DeFi Made Here
@DeFi_Made_Here
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@alphabethcap | Analyst @Instadapp | Head of Growth The approach is not to limit the choice, but to provide a broader choice.
Joined November 2021
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Pinned Tweet
1/🧵
@instadapp
launched
@0xfluid
- the biggest innovation in the DeFi space since Uni v2 to Uni v3 transition.
It combines concepts of the
•
@Uniswap
v3
•
@MakerDAO
vaults
•
@AaveAave
pool-based liquidity
•
@CurveFinance
LLAMMA
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First of all, oracle-based perp DEXes/lending are always a subject to market manipulations.
They need to use a number of risk parameters set by the DAO or risk management service providers to reduce the risks but most of the time "we live, we learn".
@dYdX
decided to increase
This should mitigate any immediate similar issues to $YFI
We will soon publish improvements we will be making to v3 and dYdX Chain software to mitigate similar issues long term while still allowing for reasonable leverage
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Perp DEXes with a liquidity pool model and a flat fee are unlikely to have a bright future. The competition is too big and they need to innovate to stay competitive.
Liquidity is mispriced most of the time. Eg a 0.1% fee for a small trade on GMX v1/Gains is expensive compared to
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Chainlink Investment Thesis
This thread will cover the Chainlink Product Overview and the value proposition of $LINK
0/38 🧵
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oh wow what a coincidence GCR is withdrawing from
@eigenlayer
the next day after the snapshot was taken
never happened before in crypto
The account 0x2fe deposited almost 4,000 wbETH (Wrapped Binance Ether) into Eigenlayer’s wbETH strategies contract around 4 months ago.
As of 3 weeks ago, this wbETH has been almost entirely removed, and the account has farmed 3.48M Eigen points.
Address:
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Recently I joined
@goodentrylabs
team and I want you to explain why I am so excited about Good Entry and how it revolutionizing the perp trading space:
• Leveraged perp trading with no liquidation by price
• No counterparty risk
• Build on top of Uni v3 liquidity
Thread 🧵
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Dear
@cobie
could you please share a few more insights regarding current market conditions.
Asking for a friend
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1/🧵 Recently,
@BankofAmerica
released a report predicting asset tokenization will exceed $16T in the next 5-15 years,
And cited
@Avax
Subnets as one of the key platforms driving the future of transferring value globally.
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Do you remember Polkadot parachain auctions?
Acala paid ~$1.3B to win the first one
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I think we do not give enough credit to Cosmos IBC
Billions of dollars were lost in bridge exploits
While IBC suffered 0 hacks
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Maybe I should have sold instead of taking a screenshot
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1/🧵 $CRV is a ticking bomb
The Curve ecosystem is in the hands of "questionable people/entities" and Mich's ability to service his debt which grows $1.7M/month.
I will explain why I see a light at the end of the tunnel and how
@0xSifu
is playing this game.
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1/ My dear followers and whoever is reading this I am kindly asking you to read the full thread and retweet the first message. I tried my best to provide you with quality content and the only thing I am asking back is a retweet. This is very important for me.
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1/🧵 Another day - another attempt to drain
@arbitrum
DAO treasury
aka $1k per 9 views tweet or ok bye
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$6M $usdc left on Uniswap against $105m $usdt
What happened this time?
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1/🧵 On-chain Derivatives sector is the most competitive in DeFi with dozens of protocols live and many new projects about to launch.
Follow this thread for the Key Metrics analysis on $GMX $SNX $GNS $PERP $LVL $MUX and more
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Meantime $1m $usdc against $78m $usdt left
The vampire attack continues:
1. Swap Tether for USDC
2. Cash out USDC
3. Deposit cash
4. Print more Tether with new cash
5. Repeat
Because Circle has no redemption fees and Tether has a 0.1% redemption fee, $usdc will continue
$6M $usdc left on Uniswap against $105m $usdt
What happened this time?
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1/🧵
• 50% of Gearbox ezETH TVL wiped out + debt
• 150 liquidations on Morpho
• Millions were lost during 78% ezEth depeg
Yesterday was just a rehearsal before a major depeg event once EL points are over
At
@0xfluid
we protect lenders and borrowers and had 0 liquidations
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So you are telling me that
@TrustWallet
is the most popular crypto project in the world now? 🤔
Probably nothing
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Quick access to the threads with all my guides on:
- Stablecoin farming strategies (40% APY minimum);
- Relatively safe non-stable farming strategies;
- DeFi protocols;
- Educational tutorials;
Etc.
This thread will be updated on a regular basis, stay tuned.
Thread 🧵
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There have been a lot of great ideas on how to play $ARB airdrop, but nobody is telling you about one more way.
(it will also make you eligible for one more $ARB airdrop)
Thread 🧵
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16/
@kava_platform
hardcoded $ust to $1. Users were able to mint $USDX (native stablecoin from the Kava chain) against UST at 99% LTV without risk of liquidation. After that $USDX was sold for other assets on Kava Swap.
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Why in the world defi lending rates are lower than tradfi rates?
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optical illusions in DeFi
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1/🧵 Back in March, I prepared a 22-page report for the investment firm about
@pendle_fi
At that moment $pendle MC was 200x less than $uni MC, now the difference is only 12x
Let me explain why I bet on Pendle and what type of projects I am interested in for investing.
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There is no SocialFi narrative, don't get trapped. It is a pure PvP where influencers became wrapped shitcoins.
I also do not believe that projects like STFX or Perpy will ever take off (in their current state).
The only copy trading tool I found worth exploring is
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25/ If you liked this thread, I would love it if you could share it by retweeting the first tweet:
Thank you and stay safe!
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26/ If you liked this thread, I would love it if you could share it by retweeting the first tweet:
Thank you and stay safe!
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1/🧵 What is happening with the stablecoin landscape and why is $usdc losing the competition?
Meantime $1m $usdc against $78m $usdt left
The vampire attack continues:
1. Swap Tether for USDC
2. Cash out USDC
3. Deposit cash
4. Print more Tether with new cash
5. Repeat
Because Circle has no redemption fees and Tether has a 0.1% redemption fee, $usdc will continue
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1/ Want to get rich in web3?
Get DAO funding to
• Promote web3 adoption in Africa - $125M
• Spread good vibes throughout the crypto space - $60k
• Promote veganism in Africa with NFTs - $20k
• Onboard more women to web3 - $1M
and many other ways to get rich in the 🧵 below
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So gents, here are a few thoughts of mine
I went through all the applications and comments and I think a lot of projects simply will not get the grants or will get much less than asked for.
I highlighted the projects with Green color that have high chances of getting a grant
I went through 100+ Arbitrum Grant Applications and selected the protocols with the highest potential upside (this includes MC, FDV, chances of getting the grant, etc).
I will share the full picture and my thoughts in
@friendtech
and
@joinfantech
chats in ~30 minutes and later
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22/ I don't want to call their names, everyone knows them and people will eventually forget about it. But I want to thank those who were trying to warn the community about the risks
@FreddieRaynolds
@0xHamz
@Galois_Capital
@JackNiewold
and many others.
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1/ I support the
@gauntletnetwork
proposal
The $CRV market is dangerous for
@AaveAave
and simply does not make any sense.
Out of 306M $CRV tokens, 289M $CRV are deposited by
@CurveFinance
founder and he borrowed $63M stablecoins against it.
Wondering why? Keep reading 👇
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1/ A small 🧵 on a complex topic of Liquidity Provisioning, Liquidity Pool models, and Liquidity Pricing
And a list of alternatives for passive Liquidity Providers and single-sided market making.
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25/ Summing up, $UST holders have to understand that there is no liquidity on the market to exit from $UST for everyone at the same time, in return for this risk you are getting 19.5% APY (won't last forever).
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Reading governance forums is super underrated, I learned a lot from it.
For example, you can find out how to get a $1.3M salary in Web3, how to charge $4M a year for security, ask for $2M for marketing services, etc.
I started my study with the
@MakerDAO
governance forum and
Underrated ways to learn:
1) Reading governance forums
2) Reading old trading books
3) Putting $ in a burner wallet and just trying out new dApps
Don't just rely on watching videos / reading threads all day - you won't have an edge doing what everyone else does.
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I am actually one of the biggest supporters of the
@curvefinance
ecosystem but got blocked for having a critical point of view.
Honestly don't understand why.
Fortunately,
@CurveFinance
went through the previous week's exploits and $CRV liquidity problems, however, there are some issues remaining.
This week $veCRV holders are facing
• The lowest bribes per veCRV
• The second-lowest total amount of bribes paid
• 2.9% 30d $veCRV APR
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All major crypto stablecoins are either centralized or minted against centralized stablecoins
What decentralized stablecoin design can potentially solve the stablecoin trilemma and who is building it?
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I compared LP trading fees for $ARB and DEX aggregator routes and this is what I've got
•
@KyberNetwork
: 5866%
•
@traderjoe_xyz
: 571%
•
@Uniswap
: 315%
•
@CamelotDEX
: 207%
A small breakdown in the thread 🧵 below
👇
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23/ In my turn I regret that I was too delicate in wordings in my thread about $UST as I didn't want to get a lot of hate from the Terra c̵u̵l̵t̵ community.
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If you are just staking GLP on
@GMX_IO
you are simply losing money.
Do you want to get 50% more? Read this thread 🧵
👇
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@cz_binance
@binance
People will call me strange, but I keep most of my crypto on Binance and feel it is safer than self custody
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CeFi is regulated by the government.
DeFi is regulated by the code.
But what stops the growth of DeFi industry?
Thread 🧵 (and small giveaway)
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🚨🚨🚨
@DuneAnalytics
airdrop confirmed!
Find out how to make 7 figures of life-changing money in this thread 🧵
👇👇👇
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1/🧵
@pendle_fi
fits absolutely any narrative in DeFi cause DeFi is all about yield
And Pendle is all about yield stripping
Trading points (future airdrops) sounds extremely degen but what if you can make 5x returns?
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I have never touched Solana for many reasons:
- Connected to Sam/Alameda/ftx
- All coins were basically Sam coins
- You got instantly filled on ftx when buying Sam coins but never filled when selling
- Chain was switching off/on every week which we later came to know was due to
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21/ Probably this is one of the worst weeks in crypto history so far. And a lot of people are accountable for that besides Do Kwon and the team. A lot of crypto influencers were promoting Terra heavily and building their wealth and audience around it.
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Will someone build a better DEX than Uniswap?
The only protocol that actually tried to compete with Uni was Curve which had double the TVL at one moment ($20b vs $10b)
But in the long run, nobody was able to rival Uniswap.
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1/ How to make 50% on $ETH in 3 months explained in 3 tweets
Small thread 🧵
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.
@pendle_fi
is literally a magic wand
In 1 day it got $130m TVL on Mantle which struggled to get any TVL since its inception
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Compound is doing $565k revenue per month with $2.5B TVL ($4.4k in TVL for $1 in revenue)
Aave revenue is at ATH - $6.3M with $13B TVL ($2k in TVL for $1 in revenue)
@0xfluid
is doing $317k revenue per month with only $413M TVL ($1.3k in TVL for $1 in revenue). It is already
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Found the best copytrading vault on Hyperliquid. This guy never misses
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@RyanSAdams
@arbitrum
@BanklessHQ
@banklessDAO
Sorry, for some unobvious reason I thought you were the same entity, I don’t why I thought that
Except banklesshq and banklessDAO have the same name, logo, colors, you are the biggest token holder and frequently promote it and if anyone thinks of bankless, he will associate it
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Remember OlympusDAO?
They still have the biggest stablecoins treasury in DeFi with 181M+ $DAI in there
thx for playing
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I didn't know what coins are considered "DeFi Blue Chips". I've just checked now and it's such a joke.
$AAVE -93.1%
$UNI - 92.6%
$SUSHI -96.3%
$MKR - 92%
$COMP -97.1%
$CRV -94.1%
$SNX -95.1%
$YFI -95.7%
Avg -94.5%
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Friend Tech will transform into a platform for creating and managing premium paid groups or will end up as Bitclout.
At the current stage,
@friendtech
is nothing else than a way to speculate on shitcoins aka influencers' shares and farm a potential airdrop.
It does not work as
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There have been a lot of
@berachain
and
@monad_xyz
on my timeline in recent days and I tried to dig deeper into the ecosystems as they both raised well above $100m
While Monad's strategy is pretty straightforward - let's build very good tech and get all the biggest players
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I am a fan of the projects which automate complex yield farming strategies for you. Today we will speak about
@groprotocol
and how to get 24-57% APY on your stables.
Thread 🧵
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If you're in DeFi for a while you must have heard how a guy bought a $25,000 boat for free.
Back then self-repaying loans were the innovation, but the space is evolving.
Now you can get an instant upfront yield without the risk of liquidation or losing money.
Let me explain 🧵
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How a man who created this had $5M to buy $sol?
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Introduction to $crvUSD
Part 2
Three birds with one stone.
Thread 🧵
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10/
@venusprotocol
suffered a $13.5m loss because Chainlink oracle stopped updating the price of Luna below $0.1 while the market price was $0.01. This allowed users to lend $Luna and borrow against it 10x more assets than possible under normal conditions.
Dear Venus Community,
Due to the unanticipated suspension of Chainlink's LUNA price feed, Venus has taken a precautionary measure to protect our users and is currently paused.
A VIP to unpause Venus following the disabling of LUNA has been launched:
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1/ An ongoing thread about the
@arbitrum
STIP proposals voting progress
aka governance ve33
(the thread will be updated on a regular basis, keep it bookmarked)
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If you believe in RWA adoption then you have to read about this project ($1.7MC at $3.8M raised).
Thread 🧵
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Me and $pendle
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Buybacks and burn > real yield
I think many revenue-sharing projects start realizing that
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1/ Disclaimer: I own $UST, $LUNA and a bunch of other coins on Terra. This thread is not about creating FUD, but I am asking reasonable questions and would love to have a discussion and listen to multiple points of views.
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Governance ve(3,3) or how to get a $1.3M annual salary in Web3.
There is an ongoing proposal on the Arbitrum Governance forum which seeks more than $2M in funding and seems to be passing.
The idea of the "The Arbitrum Coalition" proposal is to "fund a coalition led by
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Vertex Volume $1.4B
Vertex OI $14M
GMX Volume $149M
GMX OI $58M
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What happened on Arbitrum in March that its DAU grew 3-4x till now?
Also, most L2s will be ghost towns after the incentives are over, it is hard to see competitors for Base and Arbitrum at this stage
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1/ It is time for the 1-month review of the over $2b liquidity injection into Arbitrum.
Let's break down how Arbitrum native coins that were positioned to go 10-100x have performed. 👇
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Nothing broke in defi, right? No depegs, bad debts, protocol rugs etc?
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From $17M in daily fees down to $11
NFTs were the biggest scam in the previous bullrun
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If coin is down -90% it can only go down by another -10%
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Imagine locking up $850m in the multisig instead of farming the two most promising airdrops while being liquid and earning yield.
As you may know, EigenLayer is raising its caps on 18th Dec, including not only stETH, cbETH, and rETH, but 6 other LSTs too, including ETHx.
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Liquid Staking explained.
(+ an example of 20% delta-neutral yield utilizing liquid staking)
Thread 🧵
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A friendly reminder to revoke all permissions
Dear
@Rabby_io
, could you please add the button "Revoke All"
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Met so many crypto natives at
#ethcc
Featuring:
@haydenzadams
@TheCryptoLark
@adamscochran
@AndreCronjeTech
@Bitboy_Crypto
@CryptoHayes
@LayahHeilpern
@SBF_FTX
@SergeyNazarov
@ChrisBlec
@Ripple
$xrp
@FloydMayweather
@Stepnofficial
@cobie
@ArkhamIntel
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Ultrasound money is about to get Rekt
$56m $eth leveraged position is close to liquidation, might be a nice dump
🦇🔊
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1/🧵 High interest rates in TradFi are one of the reasons why DeFi TVL and stablecoin MC are in down-only mode.
People get almost a 2x yield in "risk-free" US treasuries than they get on Aave.
However, bringing RWA on-chain can help DeFi to sustain itself through this period.
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1/ There were a lot of words spoken about $UST / $Luna /
#Terra
collapse, but can we evaluate the total damage to the DeFi space?
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6 lessons we learned after (and probably knew before) short-term $USDC depeg
Thread 🧵
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You can farm
@eigenlayer
and
@ether_fi
points with 10x leverage without paying for it at all (0.04% net positive APR)
The rates will increase with more demand, but that's the cheapest option on the market right now
weETH/wstETH vault is now live on Fluid.
Leverage farm upto 10x
@ether_fi
&
@eigenlayer
points with the lowest borrow rates.
Borrowing Limit is capped at 10,000 wstETH.
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The creation of
@0xFluid
DEX had extended traders into a place they had never been before: the debts of ordinary DeFi users
It allows to generate up to $39 in LP per $1 in TVL achieving a CEX level of liquidity and it will forever change the DEX and Lending landscape 🧵
1/ Announcing Fluid DEX!
The single most powerful, capital-efficient and scalable decentralized exchange built on top of the Fluid's Liquidity Layer.
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The arrest of Pavel Durov actually tells us that all governments are the same
He had to give away VK (Russian Facebook) to authorities and flee from Russia because he did not want to disclose personal details of the users in 2014
And now he is again about to lose everything
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.
@eigenlayer
is at 98% capacity (only 10k $ETH left)
You can still get 2-in-1 rewards if you restake with
@KelpDAO
10% of the KelpDAO token supply will be airdropped to the Kelp restakers + you will get Eigen points as well.
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Wow, so many wrong takes on
@ethena_labs
today on the timeline (so let me add a few of mine)
People are mixing up luna/ust, leverage/ponzi, decentralized/centralized stablecoins, and many other things
A long tweet on what Ethena actually is, its sustainability, and the risks of
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