Ada Baguette
@ada_baguette
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Following
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620
DeFi Analyst at Waffle Capital Limited 🧇👨💻 Views are my own
Joined September 2021
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Pinned Tweet
Ladies and Gentlemen, I'm proud to present ADA-bullmarket-BAGUETTE
@spacebudznft
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Sent all the scam tokens in my wallets to Binance for some quick free ADA 😂
Scams 🤝🏽 Profit
Only on Cardano 🕺
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"Prove you are a
#Cardano
OG without saying you are an OG 🫳🎤 " - Inspired by
@MinswapDEX
I'll go first... (still have all the NFTs as well)
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I heard that the cardano community likes making new $FREN's
SHOULD I DO IT??....
@FREN_ADA
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Use this post as a 'problems with
@3utxoCapital
', I'll start with what I've seen across X and they can all be asked at the livestream.
- Why 200m ADA?
- Where is the track record of the team and why should they manage community money?
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One of my favorite token evaluation metrics is Month on Month inflation. On the 1st of every month, I note the circ supply of 20+ CNTs from
@TapTools
. I then calculate the change compared to previous months. It's great metric to see how inflationary an asset is.
Snippet 👇
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Example of
@splashprotocol
veECONOMICS
@SNEK
wants more liquidity for ADA-SNEK trading pair
Knowing that you can effectively buy liquidity on Splash, they first purchase the Splash token.
Then, they provide liquidity for the ADA-SPLASH trading pair in the ratio 20$ $ADA to 80%
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This account has been awoken from the silent depths of the bear market, inspired by
@PurritoGeneral
. All views here are my own with personal insights and fun from my life as a DeFi analyst at Waffle Capital!🥞💼
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OADA is beautiful 🥹
Had a huge aha moment today and it all clicked! Happy to answer any questions about it or maybe I go into THREADOOOOOR beaguette and hit everyone with the explainers
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🚀 Catalyst Unpacked No.4:
@SkyProtocolOrg
- Data Availability for Cardano Side-Chains 🚀
TL;DR: Sky Protocol is developing a robust Data Availability Network tailored for Cardano’s side-chains, aiming to enhance scalability, privacy, and resistance to censorship for DApps.
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What is OADA???? TLDR
- OADA is synthetic ADA
- It can be minted on Optim using ADA 1:1
- OADA can then be staked for sOADA, earning yield that can go +10%
Where does the yield come from????
Good question anon
- Optim controls the ADA used to mint OADA
- During each epoch,
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Something that I’ve been working on for a while now. Not the way I would’ve wanted it to come out but nonetheless happy to stand by it as we move forward with complete transparency 🙏🏽🥹
We would have liked to present something clear and complete. But due to circumstances here online, we thought it would be best to put out an official statement.
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SPLASH is so incredibly wet 💦
@splashprotocol
uses different types of AMM liquidity pools and has a mechanism that can match orders across these pools. Okay and….. 🥱
They’re bringing veECONOMICS to Cardano!
Ummm, what’s that Baguette???
Simple…
🔸provide liquidity to
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Congratulations
@MinswapDEX
on the V2 Launch!!!! I'm routing all my future trades through the
@MinswapIntern
Love a good easter egg 🥚
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💡 Cardano’s Approach to Adoption - Tokyo Insights 💡
@IOHK_Charles
was asked about ‘Cardano's lagging adoption’ in Tokyo, and he emphasized longevity. He pointed out that while Solana has seen rapid growth, time will tell if their short-term strategy works long-term. He went on
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As more sOADA opens up, will the yield ever drop below staking??? 😢🙁
Nope! Optim controller accounts is continuously selling the staking rights to the ADA throughout the epoch to the highest bidders
If bidders are getting filled below staking at around 2.5-3%, then a stake
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Projects who like liquidity NEED to pay attention to Splash… 🌊
Going back to basics here, Ethereum has a project like
@splashprotocol
, it’s called Curve Finance
On Curve, shit went crazy. Whales were buying a whole bunch of CRV token and locking it up to get veCRV. 🐳 💰
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@hoskytoken
@3utxoCapital
@Xerberus_io
Hey Hosky, saw that you tuned in and are still not happy. It's a process and we don't have all the answers right now. However, let me respond and let anyone else supplement or correct me:
1. I love Cardano and don't want to be anywhere else. Decentralisation and governance first
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What is 80/20 liquidity??? Is
@splashprotocol
just doing too much…
Let me explain:
Liquidity pools on most DEXES are 50/50
An example on Cardano is the ADA/FREN pool where anyone providing liquidity needs to deposit equal amounts of $ADA and $FREN
(The example is inspired by
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If you’re impressed by
@OptimFi
and
@splashprotocol
now, you’re in for one hell of a year 🌊🤯
Snapshot of Convex below. And yes, that is $1.3 BILLION locked on a single protocol.
This is one avenue of
@OptimFi
’s future and it is very bright 🌟
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@splashprotocol
are doing to liquidity what
@OptimFi
did to stake…
Let me EXPLAINNNNN
Before Optim, if a stake pool needed to attract stake, there was no way they could buy it, no matter how much they were willing to pay. 😳
Now, stake pools can buy MILLIONS worth of ADA
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OADA Yield EXAMPLEEEE
Imagine
@MinswapIntern
mints 100 OADA and
@cardano_whale
mints 300 OADA
- 400 OADA total supply
- 400 ADA reserve held by ODAO controller account
Assume only 100 OADA can be staked, a parameter set by ODAO controller account
@MinswapIntern
is first to
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🚀 Catalyst Unpacked No.12:
@IagonOfficial
Network Explorer V1 - Decentralizing Storage and Computing for Cardano 🚀
TL;DR: Iagon Network Explorer V1 aims to create a decentralized network on Substrate-parachain, enhancing storage and computing capabilities while interfacing
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Last thread about
@SkyProtocolOrg
🌃 was popular so let's break Sky down in simple terms 🧵... (bookmark for later 👀)
What is Sky?
🏫Analogy: Think of Sky L2 as a traffic management system for a busy city. Main roads (Layer 1 blockchain) get congested, making travel slow and
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3.4 MILLION OADA in the queue this epoch 👏
If I had to guess, the APY for this epoch will be around 8%. Amazing to see a good product scale 📈
Did you make the cut for this epoch anon? Or are you still fading the system 🤦♂️
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If intelligence transfers by osmosis it’s over for all of you! 🥖👑🌍
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I’m hearing whispers that $OSPLASH is cominggggg to Cardanzoooo 💰🔁
Time to run it all the way back to ETH DeFi summer 🪙
Do you know what this means anon? Or does Baguette have to go back into Threaaadooooor mode? 🧵👨🏫
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It's great to see SundaeSwap TVL on the rise post v3!
Many of you might not know this but IMO it's Sundae's pursuit of pure 'decentralisation' that lost it the status as no.1 DEX on Cardano.
Let me explain...🍨🍨🍨
After launch, SundaeSwap's liquidity was strong and regularly
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ALL $OADA pools will be primarily on
@splashprotocol
(although anyone can create a pool anywhere else)
🔸
@OptimFi
did an OTC deal with SPLASH before they launched, swapping OPTIM tokens for SPLASH tokens
🔸The deal was that OPTIM have to use their acquired SPLASH to provide
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This is the way to do it 👏👏👏
Strong decentralisation & collective community decision-making
Minswap Labs is best practice consistently, congratulations on the first of many listings
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How does
@stuff_io
work? Short and simple thread 🧵
🎬Digital licensing has led to a loss of ownership.
🎬Stuff introduces Decentralized Encrypted Assets (DEAs) and Digital Rights Management (DRM) to create digital files that maintain ownership
How?
🎬Media files are broken
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A silver lining amidst all the 3UTxO drama that people are standing up and using their voice.
Cardano’s greatest asset has always been its community. Hope that every single one of you will show the same passion when it comes to registering and direct voting / delegating to a
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The people have spoken!!!
Next steps for
@OptimFi
from here:
1. A mechanism for OPTIMiz holders to lock OADA and convert their OPTIMiz to OPTIM 🔒
2. A lending/borrowing strategy for sOADA that leverages Liqwid's platform ⚖️
3. You wouldn't believe it if I told you 👀👀 🤫
I’ve been putting out some World Mobile explainers but it seems interest is low :(
What do you want to see next?
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The BEST person to follow if you’re looking to get into the
@TheDerpBirds
ecosystem!
I heard they have a lot of STUFFFFFF coming 🫣👀
DID YOU KNOW? Ep. 67
That you can check the performance of EACH of your Outpost in a hidden part of the
@derp_goldrush
app?
Visit ANY of your outposts (or others) and click the graph icon on the left side under owner name.
You can view latest & all time rewards for $DERP & ADA
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How do people actually use World Mobile Network??
📳A new *custodial wallet is automatically created for every user that registers on the network
*Essential if you really want to onboard the next million users IMO
📶Users are then able to purchase top-ups to use services.
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- VCs have a high fail rate, why risk community money?
- VCs are profit first, won't they dump on retail?
- What about ADA sell pressure from the 200m if funded?
- Where are the other partnered VCs that would co-invest? Why not just get them to invest?
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You have been WARNED
Threaaadoooooor baguette is sharing insights on all of Cardano’s top products
If you miss out that’s on you 🫵
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CARDANO DEFI 🤝🏽 ETH DEFI (Tweet 2)
We know that curve pioneered veECONOMICS, locking CRV tokens to get veCRV and dictate emissions. 🔐
BEYOND that, a project called CONVEX was built on top of Curve.
🔸On CONVEX, a user could deposit their CRV tokens without locking them, and
Projects who like liquidity NEED to pay attention to Splash… 🌊
Going back to basics here, Ethereum has a project like
@splashprotocol
, it’s called Curve Finance
On Curve, shit went crazy. Whales were buying a whole bunch of CRV token and locking it up to get veCRV. 🐳 💰
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My birthday cake had my
@spacebudznft
and
@snek
on it! We are not the same 🤪
Shoutout to my friends and family 🥹
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⚖️ Catalyst Unpacked No.20:
@OptimFi
's $OUSD - Yield-Bearing, Well-Pegged, Scalable Cardano Stablecoin ⚖️
TL;DR: OUSD is a fully collateralized algorithmic stablecoin, designed to offer stability and yield on Cardano. It leverages the OTOKEN framework to provide yield without
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Helping senior waffles plan a Cardano 0-100 workshop
Congratulations
@eternlwallet
,
@TapTools
,
@MinswapDEX
,
@LenfiOfficial
,
@jpgstoreNFT
,
@book_io
, you’re all about to be a part of our crash course!!
🧇Will have them set up a wallet
🧇Browse through taptools
🧇Pick an
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Why is locked ADA-SPLASH LP called veSPLASH ⁉️
The ‘ve’ stands for Voting Escrow. In other words, you are escrowing your tokens for voting rights! 📰
But Baguette, what is Escrowing?? - when something (money, bond, document) is kept in the custody of the third party only to be
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🚀 Catalyst Unpacked Number 2: Gluon Stablecoin Protocol 🚀
TL;DR: Gluon is a completely novel type of stablecoin protocol. Instead of issuing a new token (i.e. the stablecoin), Gluon "breaks" an existing token into its stable and volatile components. To do so, it takes
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- How do we know they're not paying themselves exorbitant salaries?
- What guardrails are in place to stop them from paying themselves exorbitant salaries
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Month on Month inflation
Data manually inputted from TapTools once again! I'm merely an agggreeegatoooooor 🫡
*Note - no circulating supply percentage is shown anymore so it is manually calculated (hence the $HUNT discrepancy)
One of my favorite token evaluation metrics is Month on Month inflation. On the 1st of every month, I note the circ supply of 20+ CNTs from
@TapTools
. I then calculate the change compared to previous months. It's great metric to see how inflationary an asset is.
Snippet 👇
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AGREEEEGATOOOOOOR of Data is back at it again with Month-over-month inflation!
All data is copy pasta from taptools
Have added $SPLASH, $DERP, $SNEK, and $IAG to the mix as well!
Negative figure means that the circulating supply, as displayed on taptools, has gone down since
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Which OADA pool do you want
@OptimFi
to incentivise first??
OADA-OPTIM 🥩📈
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OADA-SNEK 🐍🐍
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OADA-NIKE 🐷 🐽
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OADA-ADA 🏆🏆
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Top 3 lessons from a crypto veteran
1. Sell on the way up. One day it’ll dip and not make another high for years…
2. Stick to your competencies. Don’t invest in every shiny thing you don’t understand. It’s better to be protective with your capital (not true for all)
3. If
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🚀 Catalyst Unpacked No.18: OTOKEN System - Yield Bearing Token System for Cardano DeFi 🚀
TL;DR:
@OptimFi
's OTOKEN System aims to enhance stability and optimize yield in the Cardano DeFi ecosystem through the introduction of modular smart contracts and CNT synthetics.
The
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3UTxO is already a success if that’s what it took to get people riled up about governance
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Look at those fees from
@splashprotocol
👏👏
I wonder if fees are low to bootstrap or if they can sustain fees remaining so low
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Bravo to
@Xerberus_io
&
@axotrade
, excited to test this one out
We have a little gift for you this week powered by
@axotrade
. 𝗫𝗲𝗿𝗯𝗲𝗿𝘂𝘀 𝗕𝗮𝘀𝗸𝗲𝘁 𝗕𝘂𝘆𝘀, turn your wallet into 𝗮𝗻 𝗜𝗻𝗱𝗲𝘅 tracking 𝘁𝗵𝗲 𝘀𝘁𝗿𝗼𝗻𝗴𝗲𝘀𝘁 𝘁𝗼𝗸𝗲𝗻𝘀 in the Cardano Ecosystem.
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Anyone else exhausted by the market?
Send help, baguette is beginning to burn 🔥☄️
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Hey guys, I’m looking for a GOOD Pig
Doesn’t have to be the goodest, just a well mannered funny looking pig. Can anyone give me a ticker???? 🐷
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Baguette has made a goal
I will hit 1k followers by the end of August 🤷♂️🥹 Fromt row seats for those of you already here
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🚀 Catalyst Unpacked No.16: Lending & Borrowing Aggregator - Simplifying DeFi on Cardano 🚀
TL;DR:
@AdaMarkets
is creating an all-in-one platform for aggregating lending and borrowing opportunities on Cardano, making it easier for users to compare rates and manage their DeFi
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What do ze people think about ze Indigo proposal to increase iUSD interest from 20% to 32%.
Baguette thinks this is a little overkill and that ze Indigo should balance only with RMR 🤷♂️
Happi for ze DAO though, cha ching
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@p1n3nocch14
“Within Cardano, any token/nft has some ADA attached [to it]”
So when you send one of these tokens to Binance and Binance doesn’t recognise, it detaches the ADA and burns the other token, leaving you with some free ADA!
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CONTINUATION… of exploring 80/20 pools 🏊 📈
Impact on Impermanent Loss
🔸Image 1 shows the impermanent loss for three different Balancer pools: 50/50, 80/20 and 95/5.

Impact on Slippage
🔸 In terms of slippage, the most efficient weights for a 2 token pool are 50/50.
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Highlights from Charles at the
@InputOutputHK
Tokyo Event 🤏👀 (Topic 2)
@srink
, fresh off a hack, asked how Cardano & blockchains can onboard everyone given the risk of losing funds. 😱
Charles empathized, sharing how he lost 800 BTC and hears of people who face similar risks
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Someone please challenge me to understand a complex DeFi dapp/concept and explain it to the masses
BAGUETTE IS ON FIRE and ready to burn ☄️🧯🚒
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I have come to a new conclusion that being a Baguette is really a state of mind. You too can become a baguette 🤝🏽🥖
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@spacebudznft
have a new feature! Kudos to Co-founder
@punk9968
and developer
@bytegen_dev
for the launch!
"Dress up your SpaceBud with unique helmets, suits, items, and backgrounds for a personalized experience!"
🥖Can't wait to jump in and mess around 🥖
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💡 Ouroboros Fun Fact 💡
🐢 Every slot in the Ouroboros protocol has a leader who is responsible for adding a block to the chain.
🐢To keep things secure, only blocks older than a certain number are considered settled. (Also known as a settlement delay)
🐢This design means
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Thank you for the warm welcome CT! Because you’ve been so kind I’m going to share a story very close to my heart about the reason behind my name Ada Baguette. It’s something not a lot of people know but I think it’s time that I share it…. (1/2)
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I LOVE THE FRESH SMELL OF DeFi Infrastructure improvements in the morning
- oracles indigo working with chain link
- stables fiat backed incoming
- 80/20 pools with Splash
- yield agregatoooooor sOADA
- finest tokenisation
- v2’s sundae minswap
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GMMMMM Cardano Twitter, time to learn some DeFi 🤓🤓🤓
Does everyone know how
@Indigo_protocol
works or do we need some explainers on that?
If you know how Indigo works, and you're bullish on the price of ADA, why don't you have a CDP open to take advantage of the next ADA
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“At this rate with the OADA staking queue there should be a sOADA/ADA trading pair so people can sell their sOADA at a BEEEEFY premium 🥩” - The wise words of Waffle COO
Some say he doesn’t exist, others are lucky enough to have heard his whispers
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Can
@DexHunterIO
execute a single transaction trade in the following way?
$OADA TO $FREN 🐸
OADA-ADA on
@splashprotocol
ADA-FREN on
@MinswapDEX
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The TLDW of Interview between
@cwpaulm
&
@ElRaulito_cnft
Runes & CNT’s
🧇CNT’s are natively on the ledger, you see them on an explorer
🧇Runes are attached to satoshis, explorer only shows you Bitcoin inputs and outputs
🧇Bitcoin takes 10 mins per block but users often wait
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Going through some
@MinswapDEX
archives! Did you know that they introduced their Fair Initial Stake Offering (FISO) through a creative short story? Check it out...
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how i started in crypto
1. Got orange pilled by the founder of a quant BTC firm 2020
2. Reached out to everyone Crypto I could find (including
@Waffle_Capital
CEO)
3. Whitepapers, Videos, Books, Medium, Twitter
4. Interned at Waffle Capital Summer’23
5. Went back to finish
how i started in crypto
1. After WSB mania, decided need to look into crypto
2. Attracted to Cardano, SCs about to launch
3. Work for almost all Cardano DeFi projects, translating, proofreading
4. Got deep into
@MinswapDEX
community as mod
5. Dec. 2021 get job offer, quit school
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- What is the legal status of the NPO fund?
- Who gets to keep the profits?
- What is the investment DD process?
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How and why are EARTH NODEs rewarded? 🤔
Classic Baguette break-down for you 👨🏫
Earth node operators are directly involved in the following…
1.Blockchain Operations ⛓️💥
🔸Producing blocks and committing them to the blockchain
🔸Creating digital identity
🔸Using tokens
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🚀 Catalyst Unpacked No.19:
@hlabs_tech
- A Radically Different Approach for AMM Swaps 🚀
TL;DR: Hlabs is developing a new design for Automated Market Maker (AMM) swaps on Cardano, focusing on single, deterministic transactions that eliminate the need for third-party
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Another month another AGREEEEGATIOOOOON of Data! Back again with Month-Over-Month inflation!
All data is copy pasta from
@TapTools
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Is that? No it can’t be…. OMG!
It’s a wild Ada baguette moderating the
@Waffle_Capital
panel - Why Cardano?
Cheers to Paul for bringing it to the masses 🤝🏽
Great panel Discussion between Waffle Capital, Sidan Labs and Minswap all about Why Cardano from the perspective of a VC and dApps building.
📺 -
Thanks to the teams for sending over the recording.
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Are we all just going to ignore than any LP tokens burned will never be able to migrate liquidity to new pools? 👋🏽
Surely there’s a better system? Maybe an escrow until a v2/v3 dex comes out??
With a multisig to decide when v2/v3 condition has been met? Or a summon dao
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@hoskytoken
@lord_inarius
@3utxoCapital
@Xerberus_io
Silver lining that we’re getting a lot of good feedback amidst the anger. We’re all here to build a more equitable financial future and revolutionise every industry.
Great to see the community united even if it’s against a draft leaked proposal. If 3UTxO is what it took to get
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A great one from our CEO! Read now for insights into how a young Ada_Baguette learned some of the fundamentals from his master
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Another tool that I just started using from
@TapTools
is global trades on the top right (no tappy needed)!
I set it to pick up trades >50k ADA and it's really whale watching simplified👇
Whales have been picking up a lot of $MIN, $FLDT, and $SNEK 🤷
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Planning work for an incoming Waffle intern. Thinking to have him do comparative reports on Cardano features vs. other Chains.
E.g. Solana Governance vs. Cardano Governance
Anything you want to be researched but haven't got the time to research?
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Going private at 500 followers. This is a not a drill
Baguette can’t handle the fame…
Now that you’ve read this far, please vote for waffle on Catalyst 🤭
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Why are Earth Node NFTs so Expensive?? 💰💰 What do they even do? 🤷♂️🤷♂️
🖊️Earth Node Responsibilities in Bullet Points 🖊️
🌍Processing user registration and authentication requests
🌍Financial transactions including balance checking and making payments
🌍Handling requests for
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@KrykaHodler
Good question! Incentives are the name of the game
1. Stake auctions will be conducted in OADA
2. OADA-ADA can be LPd without impermanent loss, earning good fees + farm tokens on dexes (when they go live)
3. To be introduced to lending markets as collateral
4. OADA-CNT trading
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@splashprotocol
has 15.6m in TVL, the 2nd highest out of all DEXes on Cardano, and they haven’t launched their SMART FARMS yet 🤯
That means there is currently no artificial incentives for providing liquidity 💦 on their DEX…
Just wait till incentives are live. Ofcourse it
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My girlfriend helped w a HUGE mindset change.
I was strictly assuming my bags are all going to 0, treating them as sunk costs. She showed me another way.
Why feel the pain of everything going to zero when you still believe in the investments and your thesis hasn’t changed
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