Another Day in Crypto #98 - DefiLlama New DNY Product & DeFi News
Curating some crypto content from around the web.
Hello everyone,
How are you? Hope you’re well!
As always - this is most definitely Not Financial Advice.
Everything I express here is only my opinion and perception of the market, eco systems and communities.
Do not treat any of it as an absolute fact - please do your own due diligence.
Always.
Now, let’s look at some interesting stuff I found for today.
Main story imo - a new product by 0xngmi (grazing arc) and the great team at DefiLlama.com.
Today we're launching a product that's been in the works for months: Delta Neutral Yields
It uses our huge DB to find opportunities where you borrow a token and then farm with it
With this you can get >20% APY on BTC, ETH, USDC...
Thread on how to get that APY + examples
this is the biggest alpha leak from defillama since our airdrops page
funds literally hire analysts just to find these strategies providing high yields with lower risk
and we are giving it away completely for free
leveling the playing field between plebs and huge funds
DefiLlama.com @DefiLlama
Let’s look at some of the responses.
And let’s start with me. (kek)
I believe the term you're looking for is "Chads", kind ser @0xngmi
Much respect for all you do @DefiLlama team
🦙🐐
0xngmi (grazing arc) @0xngmi
Alpha. 🦙🙏 https://t.co/f4W00kECn4
DefiLlama.com @DefiLlama
Haym:
This is very cool
DefiLlama.com @DefiLlama
Lefteris started an interesting convo:
@DefiLlama Pretty cool! Love your dashboards.
Now if only there was a way to quantify the smart contract risks of each protocol in there too 😅
Lost money to DeFi hacks multiple times so tend to be super conservative since then
@LefterisJP @DefiLlama ive been thinking about this and imo to build good risk metrics you need to male them subjective
and that puts defillama in a position where we start gatekeeping protocols
i like a very neutral position where we just provide the data
@0xngmi @LefterisJP @DefiLlama wat about a very neutral position where you just provide the (objective risk) data?
antefrens trying to make subjective things more objective
@0xngmi @ABitWhaleish @DefiLlama only thing I can imagine is pure numbers (which may not mean much). Like "number of audits" with links.
It's kind of like comparing code quality with number of commits or number of lines ... but it's just a metric to show.
Perhaps though no metric is better than bad metric.
@LefterisJP @ABitWhaleish @DefiLlama imo issue with number of audits is that it degenerates into what we saw during bull markets, when some audits were trash and audit firms were overcharging ppl as some kind of defi tax
:-( also replied to DefiLlama’s tweet:
.@DefiLlama is like a bloomberg terminal for crypto markets but it's free. Access to quality data FIRST is what separates most institutions from retails in tradfi, glad that bridge hasn't been created in crypto yet.
Moving on - what about some DeFi News?
CryptoCondom is responsible for a lot of alpha today.
Let’s start.
Look at these threads about Dexible.
No one is ever going to time a dip just right.
Occasionally you want a 🍺,🎲 or 🎬 night.
I started using @DexibleApp a cpl months ago so i could place & fill brokerage style orders w/o being chained 24/7 to a 🖥️ & my @Ledger.
👇🧵
This one is by dLux:
Arbitrum is the home of DeFi innovation and @DexibleApp is another name to add to the list.
Let's talk about this tool for the traders in a 🧵👇
Next by CryptoCondom - this alpha:
You know what 🪂 I’m more excited for?
✅ @futureversexyz for $ROOT
✅ @arbitrum for $ARBI
✅ @berachain for $BERA
✅ @tapioca_dao & @zksync 🥂 https://t.co/UlQfBe9uS1
Patrick | Dynamo DeFi @Dynamo_Patrick
Should be clear why people are so obsessed with airdrops right now.
Yes, it's free money, but airdrops are always a thing.
The reason is that the Aptos airdrop was the first big win people have heard about in awhile.
Next - SamRebirth tweeted:
Guess who replied.
@whenInternetOfB The @GainsNetwork_io sir. Doing more volume than @GMX_IO on soem@days due to leveraged forex. Revenue paid in $DAI
A thread about GNS by Thor Hartvigsen:
Gains Network has been a very strong performer recently both in terms of:
- GNS price action🚀
- Adoption & volume on gTrade🍏
Let's dive into some of the metrics that can explain this recent rally for $GNS 🧵 1/
And again…
@ThorHartvigsen .@GainsNetwork_io will do VERY well short & mid term on forex activity related to the current sovereign debt crisis. $GNS hodlers need to watch crypto revenue + adoption over the next 6m as currencies are stabilizing to see if revenues remain sustainable.
If so, 🚀, if not 📉.
DAOtopia have also written about GNS.
@GainsNetwork_io realized $300M of daily volume a few days ago and redistributed 32,5% of the profits to $GNS stakers.
Let’s jump into $GNS, a decentralized protocol enabling stock, crypto and forex trading with up to 1000x leverage.
Next alpha is presented by -
🪂🪂 Alpha right here 👇
Tendeeno (no leaks arc) (🫠/🫠).bera @Tendeeno_
If you haven't heard, @sentimentxyz is going to go live in ~30 minutes.
NFA but if they do launch a token in the future I imagine minting an account and playing around with the protocol would be +EV 🪂
We’re stoked to announce that Sentiment is now live on @arbitrum!
Sentiment enables users to borrow up to 5x their collateral and deploy assets across various DeFi protocols.
Visit our site here: sentiment.xyz
We have increased our caps to $500,000 for both USDC and USDT lending Pools!
Go deposit now! arbitrum.sentiment.xyz/lending
Sentiment is Now Live ! @sentimentxyz
Ok, who’s next?
You know who is hosting all those @Reddit nfts?
That’s right: @0xPolygon 🤝 https://t.co/esjhKZI3ao
Ignas | DeFi Research @DefiIgnas
1/ Reddit Collectible Avatars is the most fun I had with NFTs.
At least since I bought my Penguin 4 months ago.
This is how crypto mass adaption feels like.
Let me explain 🧵
:-( made me notice this:
Buffer Finance $BFR is an arbitrum app that I have been looking at for quite some time. It is basically like $GMX but with much more simpler up and down gambling mechanisms instead of perpetuals. Buffer Finance initially launched on BNB as a way for people to trade options. 1/n
An observation by Philipp:
Todays Farmer nugget is a simple one: did you know, @iearnfinance is live on @arbitrum? Earn 13.09% APY on stables ($mim pool) or 14.46% in the @CurveFinance tricrypto pool. TVL is low, so not made for large amounts. NFA
Next two threads are about some talked airdrops recently -
Anon, here's the complete NO BS zkSync #airdrop guide. Let's demystify the rumors and point out the facts
What we'll cover:
❓Wen $ZKS?
❓How to qualify?
BONUS: read on for our speculation about possible criteria and multiplier (it's cheat-sheet time 👀)
olimpio.eth on BLUR:
$BLUR Airdrop confirmed for OpenSea/NFT users 🟠🪂
🚨 13 days to claim 🚨
@blur_io is a marketplace (like OS) and an Aggregator (like Gem). Backed by Paradigm
Check eligibility: blur.io/airdrop
To claim you need to list an NFT in their marketplace. Here's how:
Next - some news by Stani.lens about Lens Protocol:
The team accepted 🥳 Can't wait to share more 👀
Stani.lens (🌿,👻) @StaniKulechov
Btw, you can also check this interview of Stani.lens on the Green Pill Podcast:
And what about some more videos?
Marketcapping with a new episode:
And Bankless with their Weekly Rollup:
Next - this tweet by Arbitrum Space got an interesting response.
🔥 In the growth of any ecosystem, Defi plays a crucial function.
So let's see the Defi Landscape in the Arbitrum ecosystem with our infographic below 👇
#Arbitrum #ArbitrumEcosystem #DeFi #DEX #Derivative #YieldFarming #Oracle #LendingBorrowing
@arbitrum_Space @arbitrum @andrewsaunders @arbitrumNewsDAO @TheLayer2DAO @EdFelten @Fractal_Visions @SizeChad @nina_rong @DZack23 @smolsharks Why is @dopex_io missing here? We probably have most of the arbitrum ecosystem's active users using us and more tvl than quite a few protocols on this list.
Also arbitrum wouldnt really have got initial traction early on without dopex
Many folks, including myself - agreed.
@tztokchad @arbitrum_Space @arbitrum @andrewsaunders @arbitrumNewsDAO @TheLayer2DAO @EdFelten @Fractal_Visions @nina_rong @smolsharks @dopex_io Don’t fade dopex, please. Thank you.
@tztokchad @arbitrum_Space @arbitrum @andrewsaunders @arbitrumNewsDAO @TheLayer2DAO @EdFelten @Fractal_Visions @SizeChad @nina_rong @smolsharks @dopex_io missing literally the most important protocol
Agreed.
@dopex_io is one of the strongest and interesting projects building on Arbitrum, and have been a big factor in attracting participants of all kinds into the Arbitrum ecosystem.
$DPX $rDPX
TzTok-Chad (💎, 💎) @tztokchad
Same.
$DPX $rDPX
CryptoGoon @goon_crypto
Rob Acosta also agreed:
Ok, let’s start wrapping up.
Size Chad looking for a Discord mod folks:
@Dingo96821636 @SizeChad @AnataNFT @CryptoMaids @SizeChad honestly @Dingo96821636 is the most responsive person Ive ever seen on a server ( @AnataNFT )
Always there, always helpful, always energetic and always nice.
Definitely a great candidate.
Btw Dingo hope to maybe be able to interest you in another possible mod opt :)
Go Dingo!
I liked this one by unexployed:
And this is a thread many of you will I believe like from Minty:
Crypto Twitter is a Goldmine for Alpha, but there is too much noise in between.
To save you Time and Sanity, Here is a List of Accounts to follow so you get all the Info you need without wasting time.
A Megathread🧵
I added:
A very nice list by @Minty0x for resources - and will definitely, definitely add one of the GOATs -
@SalomonCrypto
Enjoy folks!
Minty @Minty0x
Next - this was interesting by Gwart about SBF - you can read about the SBF Story on the previous edition of Another Day in Crypto #97:
I’ll just go ahead and drop some Adam Cochran length knowledge on you guys:
I’ve been critical of SBF forever (consider reading my very influential Substack that has 10s of readers) but now that he is the villain, I feel compelled to share my sentiments. SBF is a mere symptom
And this is also related by Ieyasu:
1. When incumbents ask for (more) regulation “we need regulation” their goal is to keep competition, disrupters away, as regulation costs R more expensive 4 new/smaller entrants.
“We” actually means “I”.
2. 3 gripto reps & no TzTok-Chad? Pfff.
He’d b my 1st choice.
And to end for today - someone had a Birthday!
Mazal Tov bulma!!!
Thanks for reading everyone, have a great day!
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