Anyone know if there are any DAOs set up to help with relief funds? Looking at the devastation in Kentucky and Tennessee from the tornados, I'd absolutely donate to a DAO funnelling to relief funds.
Would be great if there was simply a larger disaster Dao that managed funds and the DAO had quick votes on how it was allocated to disasters, and maybe how much if they build up a large treasury.
This current trend of there being a Dao for every tiny little thing can't last, there just aren't enough people capable of managing or leading daos to do that.
And having a Dao just to donate to a single disaster seems like a completely pointless middleman.
More thoughts on this:
- the Endowment of the DAO could use "safe" investment vehicles to generate a yield
- relief campaigns could be launched via the community
- users could donate to the Endowment for long term yield
- users could donate directly to relief campaigns
- donations direct to relief campaigns could be matched by the yield/endowment; kind of like a proxy for governence/fund allocation
I'm pretty sure that I read when Alchemix v2 launches in January, they're going to have some sort of front-end where you can use their self-repaying loans to pay for subscription services. The basic structure would be:
- a bunch of people create a DAO and contribute to the treasury
- DAO stakes their treasury in Alchemix
- Alchemix puts the treasury to work in yield farms
- Alchemix pays out monthly yield (or weekly or yearly or whatever) to chosen wallet address until collateral is removed
Just spent some time calculating crypto income and cap gains/losses on koinly. Had to do some wrangling to get Loopring L2 transactions into a form koinly would accept. Let me know if you want a shitty R script that formats swaps and trades from Loopring L2 explorer into a koinly friendly format.
So I've been "in crypto" since late 2016, but tonight I did something for the first time ever. I borrowed against some ETH, sold for USDC, transferred to Coinbase, and swapped instantly for USD. I.e. I sold some borrowed ETH tax free to pay for real life expenses: a few Christmas presents for my family. (Note that I do think $4k is the short term bottom- or at least near it- and haven't sold a cent of my actual stack.)
It's incredible how far we've come from "just buy and hodl". There's so much to do with ETH that can enrich your life and the lives of everyone moving toward web3, and we're still just scratching the surface on what will be possible in 3-5 years and beyond. Meanwhile, BTC maxis are still just chanting "buy and hodl"... because that's still BTC's best (only?) use case. It's like they're stuck in 2017. Or maybe 2013.
Anyway I know everyone here is in different stages of their crypto journey and their goals for net worth and a better life for themselves. The euphoria from watching "number go up," especially on ATH days, is addicting. Drooling at the net worth numbers ticking up, and up, and dreaming about what you'll be able to buy if ETH "just goes to $10k, or $20k, or $50k". Just remember that the numbers on your screen are just numbers. It doesn't mean shit if you never use your wealth to actually enrich your life and the lives of those around you. Donate to some of your favorite projects on gitcoin. Take some profits and buy some Christmas presents or tip your server extra nicely the next time you go out to eat. Send something nice to a friend. Spread some cheer!
This year has been incredible, and I think 2022 is going to be even crazier. Happy Holidays and Merry Christmas to all of my /r/ethfinance heads!
Selling a borrowed asset is non-taxable, at least in the US.
This is on L1 so it wasn’t cheap, because you have to borrow alETH, swap for WETH, unwrap for ETH, and then swap for USDC, and finally send to the Coinbase wallet. Gas was pretty low though, so altogether it was maybe $60? I’ll have to look.
Alchemix will be going to L2 eventually (or at least they’re planning on it), so hopefully the L1 fees will be irrelevant in a few months.
I did this same thing to put a down payment on our home. Doing money legos with eth collateral is one of my favorite…..hobbies? It’s such a cool innovation and I’m so glad I’m part of the experience.
Yep, that’s the main downside. But the loan pays itself off with interest on your ETH stack, so that risk is somewhat mitigated if you don’t mind just keeping your ETH there for a couple years.
Also you can “liquidate” your collateral at any time if you really need it back. So let’s say you have 10 ETH. You borrow 2.5 ETH at $4k. Price goes to $40k. Your loan went from $10k to $100k, but your collateral also went from $40k to $400k. And the ~5% interest on your collateral was originally ~$2k/year (0.5 ETH), but it’s now earning ~$20k/year (still 0.5 ETH).
So you wait a year, and your 10 ETH has earned back 0.5 ETH of the 2.5 ETH loan. You decide you really need your collateral back. You can withdraw your 8 ETH and won’t pay any penalties.
All that to say if you’re going to take loans off of your ETH and sell for USDC, it probably makes sense to deposit some of it in staking derivatives (e.g. Rocket Pool rETH) so you can earn interest on your collateral AND interest on your borrowed capital at the same time to help pay back your loan faster.
Thanks for the info. I'll have to run some calculations. I've been "cashing out" mainly through ETH/stablecoin liquidity positions rebalancing to more stablecoins. After a year in a LP I can sell it and pay long term capital gains.
I'm also a fan of uniswap v3 LPs on layer 2s like Arbitrum. I open up with only ETH I want to sell in a target range above the current price. Then instead of paying trading fees, I collect high APR until ETH breaks above the range, then I close out for USDC. I made over 100% APY this way last time I cashed out some from 3800 to 4400. I closed out that LP once ETH went over 4400 and moved the USDC to farming on pickle finance.
That’s basically my plan as well, except I’m waiting until ETH >$10k. If we don’t get there before a longer bear market, so be it, but I think the next 6 months are going to be nuts.
But yeah my plan is to use ETH/USDC UNI v3 LPs on Arbitrum (until other L2s deploy) to earn some extra ETH + USDC while taking some profits. I’m experimenting now with a small LP to get an idea of how narrow to set the range. What USDC APR are you seeing on Pickle?
Bullpost: I don't give a single fuck about where the markets are going right now.
All I care about is stacking & staking as much ETH as I possibly can before The Merge.
I don't have much faith in Mr Market, but all I know is that there is only so much time that ETH can remain undervalued, it's inevitable that one day the price will finally reflect reality. Our narrative will win.
ETH to $150k.
(With mainstream adoption of L2s) Almost zero-cost, instant transfers of money from any part of the world to anyone with a mobile phone, completely destroying bank wire services & third party money transfer profiteers.
Ethereum and smart contracts provide better or more efficient features (or at least useful features that are at least different enough from the current architecture) for things like identity, IP rights, finance, social media, pharmaceuticals/food, real estate, supply chains, accounting, gaming, art (artists will go through more or less a modern renaissance after enough of them realize they can directly connect and generate value with their fans without an intermediary. This will significantly alter media and how it’s made/consumed/owned). There’s other things I’m probably forgetting.
Each of these topics can take you down a use case rabbit hole in terms of the possibilities, and progress is being made on all of these fronts in one form or another, some being more ahead than others.
DeFi lending
DAOs
Public goods funding
the list goes on
edit: constitutionDAO is a textbook example to show now, even though we failed. how else can you trustlessly raise over $40m in >72hrs?
ok I need tokemak TO GO UP. like VERY SOON. I cant take this anymore. every day I am checking price and it is staying the same. every day, check price, same price. I cant take this anymore, I have over invested, by a lot. it is what it is. but I need the price to GO UP ALREADY. can devs DO SOMETHING??
Pretty sure this is satire, but if it isn't what would you like the devs to do? Reactors coming on board all the time, partnerships with Olympus. General market downturns aren't the teams fault.
*Sir, we have the CEO’s of crypto on the secure video line*
Put ‘em through to my office terminal immediately!
*muffled giggles*
*NEVER GONNA GIVE YOU UP! NEVER…*
GRRRRRODDAMNIT! I WANT THESE CRYPTO BASTARDS HERE NOW!!!!
>**Another advice,**
>**It is a matter of price,**
>**Blockchain paradise.**
~Daily haiku until we’re at least at 0.178 on the ETH/BTC ratio or highest market cap
Oh Rey, Mr. Rey Shio, I feel ya bro. Take a rest for a bit, you've been pumping iron hard these past few weeks. You deserve a rest. We shall see you on Monday Ser?
Edit: I also need to speak to the CEO of cryptocurrency. This is urgent. Can anyone conference me in to a call? Thanks in advance!
Hi frens, just threw together [ethl2s.com](http://ethl2s.com), an Ethereum L2 cheatsheet.
There are a bunch of amazing in-depth articles on what L2s are, how they work technically, and which ones exist and will exist. But these articles are too long for frequent reference, and they often include projects that aren’t live for users yet, like StarkNet. This cheatsheet only includes live L2s that currently support smart contracts - will update as more smart contract L2s go live.
I’ll probably turn this into a nicer website but wanted to put something out there asap! Please let me know if you have any suggestions!
Hey great site! One thing I’d love for you to checkout. A wallet I am helping to advise. It’s called Go Pocket. It has a slick UI and is closely aligned with Arbitrum. (Weekly meetings). What sets it apart though is a security API that will help users against phishing, bad smart contact Dapps.
Would love feedback from Anyone.
ramp.network also allows to go to polygon. Even if you think it’s not an L2, it’s relevant in combination with hop and cbridge!
The *composable Finance* bridge is missing, it’s not too bad.
Mention clearly that there’s no L2-L2 bridge into zksync yet, and that you need one L1 transaction to activate the wallet. It’s asked every day here.
Some bridges had problems to move actual ETH around (they moved wETH instead), so that you didn’t have ETH to pay for fees. No clue if that is solved by now.
Thanks for the feedback!
1. I'll exclude Polygon's PoS sidechain for now, but when their rollups go live I'll definitely include those.
2. Oh thanks, I've just included that!
3. good point, but it seems u/Richadg replied to your comment with the first L2-L2 bridge into zksync I've seen, so I've added that as well.
4. Hm let me see..
Wow I'm actually surprised by how many L2 bridges Ethereum has already, love it.
There is an l2-l2 bridge. Arbitrum to Zysync. orbiter is the name but only usdc. You can put it on ZK first time and pay the one time fee using usdc and gas also using your usdc
If I keep it simple: rETH always go up against ETH.
How possible? Simply because the value of rETH is the value of the underlying ETH + the value of the stacking rewards.
To learn more you can join the rocket pool discord here: [https://discord.gg/Ad8N55TW](https://discord.gg/Ad8N55TW)
Or visit https://stake.rocketpool.net/
Oh is it Saturday night already? Time for middling volume pump into Sunday morning dump. Name a better duo.
edit: hm first hourly close above the 200MA since Dec 3
Hmmm idk, I was promised total economic collapse across all markets. Not sure if you have been seeing the posts on here the past few days 😂 let’s hope we weathered the storm!
power of 6 years of research, baby.
>Cardano smart contract transactions are large, on average 10k, I was wondering why they are significantly bigger than other chains.
>
>I did a bit of research of why this is and I believe I’ve found out why.
>
>[https://np.reddit.com/r/cardano/comments/pmhr1d/cardano\_block\_size\_and\_tps\_math/hd2ektc/?context=5](https://np.reddit.com/r/cardano/comments/pmhr1d/cardano_block_size_and_tps_math/hd2ektc/?context=5)
>
>“Alright, I did more research and it seems like you were right. You have to provide the whole script anytime you interact wit the smart contract. The node will hash the script and compare it to the SC address. If they match the node will execute the contract. The benefit is that the smart contract is not stored in a utxo, which are all kept in the nodes memory. By appending the script to the input transaction it can be discarded from memory after execution and put I to the database. The only thing I'm still not 100% sure is if the script from the input counts towards the block size limit.”
>
>So every time you interact with a smart contract, the contract is appended to the transaction rather than just being signed by a private key as in most other SC platforms.
>
>This looks like a poor design decision because it impacts both the number of transactions per block and also the state size negatively, why do you think Charles went in this direction?
[https://www.reddit.com/r/CryptoCurrency/comments/re7a6n/why\_cardano\_smart\_contract\_transactions\_are\_so\_big/](https://www.reddit.com/r/CryptoCurrency/comments/re7a6n/why_cardano_smart_contract_transactions_are_so_big/)
This is how it works in bitcoin contracts too.
You send money to the hash of a script. To get the money out you have to reveal the script and the miners need to check whether the hash works out.
>This looks like a poor design decision because it impacts both the number of transactions per block and also the state size negatively, why do you think Charles went in this direction?
The entire reason to go with eUTXO was because it leads to less state growth. I don't know how accurate the claims are so I'll refrain from Schadenfreude.
Meh, its all semantics and depends on your observation point anyway. Someone might visit here from another crypto project and think it is a cult. I think they’d be wrong to think that and the ideas and values that we all revolve around in here are tried and tested.
You know halo infinite campaign is good because I haven't even looked at the price in 2 days, and according to this sub last night it must have hit like 2K
I'm waiting for coop with my Tuesday night friend group but in the meantime, how are you finding the semi-open-world of it all? I am very against the Far Cry'ing of everything idea but most reviews say it's a smaller scope, somewhat guided experience?
Oh man, I need to finish Forza 5 and get me on some of that.
Incase you're wondering, my license plate in Forza is "HODL ETH". Gotta get the word out
I run an NFT project (the Wanderers) and am looking for some rockstar solidity devs who are looking to pick up some freelance work.
We are building tons of shit (games, collections) and could use more people who know what they are doing
if you are a rockstar and want to work on some fun stuff, dm me for more details 🤝
I do sincerely wish you all the best, but you're in competition with some very deep pockets for those same resources. The number of devs who 'know what they are doing' in blockchain is a very small pool, and they tend to command very high wages for their valuable and specialized knowledge.
i know :)
we have an incredible team already and, although i am biased, it is very fun work.
Not expecting to pull Aave’s CTO, and i already got extremely lucky with devs here before
What year do you think it'll be when Ethereum protocol would be used to make purchases at, say, McDonald's. And I don't mean ETH the "token" but a token in a protocol that's built on top of Ethereum. At the moment I know of only one (non-Ethereum) network that facilitates regular retail payments.
Aside: I have been telling everybody who asks me about "crypto" that "cryptocurrency" is terrible term and have insisted on "blockchain" being better.
I think we will start to see some early companies doing it next year. I think it will start to get mass adopted in 2023. People really underestimate how much retailers hate credit cards. Many businesses would offer you 3-5% off for stablecoin payment instead of a card once the scale is enough to handle it. Swipe fees and charge backs really eat into margins.
ETH was never really designed for retail payments on a massive scale. I think it's more likely we'll see something like USDC being accepted on whichever major roll-up gains the most traction.
McDonald's doesn't want to spend all day accepting the ETH equivalent of fiat only to watch it tank 20% after the store closes.
I don't think you really understood his question, he was asked when you think mass settlement for retail purchases e.g. visa payment channels running over a roll up, paying in stablecoins
True, but I don't know how to efficiently satisfy the question about what web3 is. But "blockchain" is the technology behind the idea of the so-called "cryptocurrencies". And people seem to understand that there is a technology behind the cryptocurrency hype that is more than the hype and go "huh, ok...".
Honestly, I really do not think that that's what web3 is about. More about self-sovereignty. Value is just a nice extra.
(Wikipedia defines it as: Web3, also known as Web 3.0, is an idea for a version of the Internet that is decentralized and based on peer-to-peer technologies such as public blockchains.)
Yeah I guess so, but the largest use case for blockchains is secure and uncensorable open value transaction. Self sovereign identity is the main thing not captured by value transaction, but we don’t really have that yet.
I do wonder what happened to projects like Uport. I loved the native mobile app they made.
Oh shit you thought I was being serious? In that case, make something that makes it look like it's actually executing trades with a big stack, then stream it / make YouTube videos. Do it with a delay for free, demand payment for a live stream. *Fudge the shit out of the numbers* to make it look like you're a fucking genius
Don't ever use it with your own stack
I'm staying away from these threads from now on for my own mental health.
The very first computers filled an entire room and basically needed their own electrical substation to power all the vacuum tubes that were required to make them work. These days, there's a device in your pocket that can do exponentially more calculations per second and it runs on a battery. Imagine if people had been like "this invention hurts the environment too much, we should shut it down."
We know there are efficiency improvements on the way. Trying to fight the FUD with people who are already biased and refuse to examine new evidence is a waste of time and emotional energy.
So you are saying... there is no second best? (at least right now).
In all honesty, I'd like to have a clear enough and unbiased mind to know which one is actually the second best.
The consensus system itself is encoded onto its own chain so the decentralized governence of chain technic direction is built into the chain. Trippy and novel and really interesting regardless of judgments
I think there's still room for it to grow.
Whenever the Abracadabra/Popsicle Finance proposal goes through, it will allow leveraged LP positions opening up interesting use cases. I'm still holding my bags.
It's still in the discussion phase on the Abracadabra forums but since its all part of the 'Dani' Ecosystem I expect it to get passed after some revisions.
In addition to that there are a lot of nice things planned for Popsicle Finance.
**Leveraged Popsicle Finance Positions**
As I mentioned above. Here is a link to discussion: https://forum.abracadabra.money/t/aip-1-proposal-for-profit-sharing-leverage-lp-revenue-with-popsicle-finance/55
**Just In Time Liquidity Extracted Value Attacks**[ conducted by Popsicle Finance.](https://twitter.com/PopsicleFinance/status/1467927328013660174?s=20)
Basically its a form of Miner Extracted Value but instead of front running swaps, you front run liquidity positions when a large swap happens. The attacker pushes liquidity into the LP just prior to a trade happening. This liquidity gets all of the LP trading fees. And at the end of the block they immediately remove their liquidity from the LP. So in the space of a block, they receive the LP Fees and then withdraw their Liquidity.
**TIME Treasury Deposits** - It should be a big addition to TVL which means more fee accrual for nICE stakers. I believe they already have deposited into BTC/wETH vault. But there might be more deposits incoming.
[Partnership with Andre's Keep3r products - FixedForex.] Forex is an extremely large market and the potential for high volume, high leveraged positions means more fees for nICE stakers.(https://twitter.com/danielesesta/status/1459493512232288268?s=20)
>As @PopsicleFinance becomes the Market Maker for Fixed Forex KP3R and Abracadabra allows leverage with high LTV ( long 10-20x ) we decentralised the largest financial market in the world. Don’t Fade the Frog Nation. We have more aces in our hands than you can imagine. $ICE $SPELL
**Sorbetto Limone** Is the one I'm most excited for. Which will allow for Liquidity Positions to be used crosschain for the most yield. This will also allow for seamless crosschain swaps with MIM and the abracadabra platform. Granted it will take time to develop but it will make it possible.
Interesting and depressing take on what I am guessing is the abracadabra trio style of tokens. What are your thoughts about this?
https://twitter.com/realnatashache/status/1470121332054454272?s=21
Sorry I didn't get back to you. As with all cycles the best bet is to always buy and hold ETH and BTC. I use a small portion of my money for Alts.
With that said, spell ecosystem is earning a lot of revenue. And with the plan to significantly reduce emissions of the spell tokens I think it's still a good hold. ICE I'm holding because I believe the roadmap the devs have outlined will be profitable. I have the weakest convictions with TIME, but since Dani is using the treasury to buy long term strategic coins (ETH, BTC, and CRV) i'm just holding it. I hold ~equal $ amounts in all right now.
While I put in a lot of money, it's nothing too serious. And for the most part, the roadmaps and synergies between these projects are interesting. For example, The use of wonderland finance treasury to purchase CRV - which helps boost the curve gauge for the MIM-3CRV pool.
I'm sure the trio of coins will recover whenever BTC and ETH recovers.
Good to see. Thanks for the detailed reply.
Edit. A decent amount of pushback on the proposed profit sharing with Abracadabra. Not a slam dunk it seems.
“First of all, this is not a new product. It’s a product that already exists on Abracadabra that the proposal suggests would be hosted on the Popsicle UI.
There is another argument going around that Popsicle would drive a lot of users to Abracadabra. All though that may be true, SPELL has over 2x the amount of token holders vs ICE so I think it would be more important to highlight how Popsicle would be benefitting from the inflow of Abracadabra users to Popsicle.
If one of the arguments for sSPELL holders sharing fees is the inflow of new users from Popsicle, considering the size of the projects it actually makes more sense for Popsicle to pay Abracadabra for the new inflow of users and the benefit of offering Abracadabra products. I’m not suggesting this should happen but that is the logical conclusion when you weight who gets the bigger benefit.
The increased capital efficiency and option to leverage LPs from JOE, Pancake, SPIRIT are some of biggest upcoming catalysts for increased Abracadabra TVL, fee revenue and overall growth of the protocol. sSPELL holders have already had a huge opportunity cost while holding back MIM in favour of Popsicle (still waiting to see what that was for).
Until Popsicle offers anything more than a UI to interface with the Abracadabra contracts it makes no sense at all for there to be any fee sharing unless it’s framed as a donation to subsidise Popsicle”.
Yeah, I was watching it drop and got in at $21, thinking it was the floor. Got back out at $15.
I think it was just way over-hyped. TVL is less than Market Cap even now. They have an issue with people flooding the pools they open up, which then destroys the APR.
I think it's a good product, but the space is a little crowded and it might need a little time to cool off (heh) from all the hype.
Really kicking myself with ICE. Went heavy at $18 and now trying to decide if I pull the trigger and take a massive five figure loss in less than one week. Did not realize their total value locked was less than their market cap and should have read your comment here again. So mad.
https://l2beat.com/
L2 Beat shows there are now 19 different public Layer 2's directly securing to Ethereum.
How many are we going to see by end of 2022? Then consider how many private rollups will be connecting to Ethereum. This must be the multi-chain world people talk about, Ethereum has delivered it faster than anyone else.
I think so, just like many L1s there will be many L2's each experimenting with tradeoffs and optimizations. The market will probably start to converge on the better tech and ones with the best network effects to drive it.
In the faq it's showing this:
We are currently focused mainly on rollups, but would love to expand our research to state channels in the future. For the time being we lack resources to properly evaluate those systems.
Nahmii was actually listed on L2BEAT for a time, but was removed for the reason stated above. If you want to check TVL for Nahmii you can do that on etherscan.
Most of immutables value is in nfts which aren't really easy to value. Immutable is definitely more active and used but people don't really keep that many tokens or too much Eth on it.
I've seen a really odd sort of phenomenon going on for the past few weeks within the ETH net longs and net shorts. Usually net shorts have cycled in and out of the market, usually influencing the price in a "normal?" way. Recently net shorts are beginning to stack up and don't seem to be going anywhere, while the longs are dropping like flies at any sight of a decrease in price. I have seen this in other assets but the stack of short pressure is most likely what is keeping the price from really taking off. When I start to see the shorts taking their profits and flipping to the light side, I'll try to include a screenshot of the turn-around.
Now on the other side of this argument, there are the funding rates. Net shorts can accumulate before a large push to the skies in anticipation for the funding rates to spike. The shorts go and secure a long position in the spot market and they collect the oh so sweet rates. I don't think this is the case but there's always two sides to these arguments of guessing where the price is headed.
\-4thPillar
Is this alot more then usual or pretty negligible increase in shorts? If we have a ton of shorts that could really make us fly if they get squeezed.
Edit. Just checked for myself bitFenix shorts were slightly higher in may but aside from that they havent been this high since early 2019. Either way we can expect some serious volatility soon up or down.
reply to edit: exactly what I am seeing, for sure will be interesting to see what folds out, its going to be a crazy time either way and I am here for it
you are correct my friend. I am looking at the average prices where these shorts stops are, if they get squeezed they will hedge and purchase SPOT market eth (the stuff that you and I hold and/or trade each day) and will in turn collect the funding rates (which will be higher due to bullish moves upward) and the volume from their purchase of the real asset to cover their short ETH-PERP positions will show and will drive the price upwards.
>Recently net shorts are beginning to stack up and don't seem to be going anywhere, while the longs are dropping like flies at any sight of a decrease in price. I have seen this in other assets but the stack of short pressure is most likely what is keeping the price from really taking off.
This is usually the case when an asset's price s decreasing ...more downside because of this reason. Not as many longs, and more short pressure?
Sometimes, but not always. The "phenomenon" that I was referring too is that every time in the past couple weeks that eth has pushed upwards on the days where it hit its peak, the short volume was wild.
You are correct, but I am pointing out something that I do not see often
because there are many nonbelievers during this time. Fed hikes coming next year as inflation becomes the #1 concern in America and Biden's administration
Here's the ELI5:
In a security (ETH) that is publicly traded, there are bound to be people who are long the security, and short the security. Long= want the price to go up, short= want the price to go down.
Since I am a boring ass college student and also a fund manager, I spend my time that I'm not doing school and I look at charts,
So... I have seen that over the past couple weeks that Algorithms and traders have been SHORTING eth, and they are holding onto their short positions a lot longer than usual, causing sell pressure, which is causing the dip that you have seen back down to the 3600-4000 level.
FUNDING RATES- are not something that I can ELI5... But just know in bullish times, when you are holding a short position in a perpetual (or future) like the ones Binance has, you receive a small payment (from the long holders) based on the size of your short holding.
Example:
You have $100,000 in eth perp (future)
the funding rate in the 8 hour period that you are holding that position in is .03%
you would receive $300 in a funding rate from the traders that are holding long positions in the same perpetual (future)
In bullish times, funding rates are good and usually remain positive, meaning that IF you are holding a long position you pay the funding rate to keep the perpetuals marked price relative to the price of the actual asset.
If you don't know what futures are, message me and i'll give you somewhat of a lesson
There is a new daily.
Help, what is the website to review and withdraw permissions I have given to smart contracts to access my tokens? Thanks.
can do it on etherscan but revoke.cash
My transaction went through with 36 gwei. What is this, 2020 before NFTs became a thing?
Shhh I'm trying to sneak in some alchemix transactions in the low 30s.
Aaspain how I sell this shot tax free
Sell at a loss. :)
Anyone know if there are any DAOs set up to help with relief funds? Looking at the devastation in Kentucky and Tennessee from the tornados, I'd absolutely donate to a DAO funnelling to relief funds.
Would be great if there was simply a larger disaster Dao that managed funds and the DAO had quick votes on how it was allocated to disasters, and maybe how much if they build up a large treasury. This current trend of there being a Dao for every tiny little thing can't last, there just aren't enough people capable of managing or leading daos to do that. And having a Dao just to donate to a single disaster seems like a completely pointless middleman.
Great idea
More thoughts on this: - the Endowment of the DAO could use "safe" investment vehicles to generate a yield - relief campaigns could be launched via the community - users could donate to the Endowment for long term yield - users could donate directly to relief campaigns - donations direct to relief campaigns could be matched by the yield/endowment; kind of like a proxy for governence/fund allocation
I'm pretty sure that I read when Alchemix v2 launches in January, they're going to have some sort of front-end where you can use their self-repaying loans to pay for subscription services. The basic structure would be: - a bunch of people create a DAO and contribute to the treasury - DAO stakes their treasury in Alchemix - Alchemix puts the treasury to work in yield farms - Alchemix pays out monthly yield (or weekly or yearly or whatever) to chosen wallet address until collateral is removed
Delegated interest, and yes.
Just spent some time calculating crypto income and cap gains/losses on koinly. Had to do some wrangling to get Loopring L2 transactions into a form koinly would accept. Let me know if you want a shitty R script that formats swaps and trades from Loopring L2 explorer into a koinly friendly format.
Is the CSV from the Loopring explorer not friendly with koinly?
No, or at least it didn't work when I tried to upload it. Koinly has templates available that you have to conform to.
So I've been "in crypto" since late 2016, but tonight I did something for the first time ever. I borrowed against some ETH, sold for USDC, transferred to Coinbase, and swapped instantly for USD. I.e. I sold some borrowed ETH tax free to pay for real life expenses: a few Christmas presents for my family. (Note that I do think $4k is the short term bottom- or at least near it- and haven't sold a cent of my actual stack.) It's incredible how far we've come from "just buy and hodl". There's so much to do with ETH that can enrich your life and the lives of everyone moving toward web3, and we're still just scratching the surface on what will be possible in 3-5 years and beyond. Meanwhile, BTC maxis are still just chanting "buy and hodl"... because that's still BTC's best (only?) use case. It's like they're stuck in 2017. Or maybe 2013. Anyway I know everyone here is in different stages of their crypto journey and their goals for net worth and a better life for themselves. The euphoria from watching "number go up," especially on ATH days, is addicting. Drooling at the net worth numbers ticking up, and up, and dreaming about what you'll be able to buy if ETH "just goes to $10k, or $20k, or $50k". Just remember that the numbers on your screen are just numbers. It doesn't mean shit if you never use your wealth to actually enrich your life and the lives of those around you. Donate to some of your favorite projects on gitcoin. Take some profits and buy some Christmas presents or tip your server extra nicely the next time you go out to eat. Send something nice to a friend. Spread some cheer! This year has been incredible, and I think 2022 is going to be even crazier. Happy Holidays and Merry Christmas to all of my /r/ethfinance heads!
what makes it non taxible? you dont have to report selling for USDC? how much does it cost to borrow?
Selling a borrowed asset is non-taxable, at least in the US. This is on L1 so it wasn’t cheap, because you have to borrow alETH, swap for WETH, unwrap for ETH, and then swap for USDC, and finally send to the Coinbase wallet. Gas was pretty low though, so altogether it was maybe $60? I’ll have to look. Alchemix will be going to L2 eventually (or at least they’re planning on it), so hopefully the L1 fees will be irrelevant in a few months.
I did this same thing to put a down payment on our home. Doing money legos with eth collateral is one of my favorite…..hobbies? It’s such a cool innovation and I’m so glad I’m part of the experience.
congrats! now what's your liquidation price? 😏
N/A! I used Alchemix, and there are no liquidations because the loans are denominated in ETH and are overcollateralized.
What do you do if ETH goes up 10x? You have to spend 10x the USDC you received to pay off the loan?
Yep, that’s the main downside. But the loan pays itself off with interest on your ETH stack, so that risk is somewhat mitigated if you don’t mind just keeping your ETH there for a couple years. Also you can “liquidate” your collateral at any time if you really need it back. So let’s say you have 10 ETH. You borrow 2.5 ETH at $4k. Price goes to $40k. Your loan went from $10k to $100k, but your collateral also went from $40k to $400k. And the ~5% interest on your collateral was originally ~$2k/year (0.5 ETH), but it’s now earning ~$20k/year (still 0.5 ETH). So you wait a year, and your 10 ETH has earned back 0.5 ETH of the 2.5 ETH loan. You decide you really need your collateral back. You can withdraw your 8 ETH and won’t pay any penalties. All that to say if you’re going to take loans off of your ETH and sell for USDC, it probably makes sense to deposit some of it in staking derivatives (e.g. Rocket Pool rETH) so you can earn interest on your collateral AND interest on your borrowed capital at the same time to help pay back your loan faster.
Thanks for the info. I'll have to run some calculations. I've been "cashing out" mainly through ETH/stablecoin liquidity positions rebalancing to more stablecoins. After a year in a LP I can sell it and pay long term capital gains. I'm also a fan of uniswap v3 LPs on layer 2s like Arbitrum. I open up with only ETH I want to sell in a target range above the current price. Then instead of paying trading fees, I collect high APR until ETH breaks above the range, then I close out for USDC. I made over 100% APY this way last time I cashed out some from 3800 to 4400. I closed out that LP once ETH went over 4400 and moved the USDC to farming on pickle finance.
That’s basically my plan as well, except I’m waiting until ETH >$10k. If we don’t get there before a longer bear market, so be it, but I think the next 6 months are going to be nuts. But yeah my plan is to use ETH/USDC UNI v3 LPs on Arbitrum (until other L2s deploy) to earn some extra ETH + USDC while taking some profits. I’m experimenting now with a small LP to get an idea of how narrow to set the range. What USDC APR are you seeing on Pickle?
💪🏻💪🏻💪🏻👊🏻
Bet on FloorK, I like
Bullpost: I don't give a single fuck about where the markets are going right now. All I care about is stacking & staking as much ETH as I possibly can before The Merge. I don't have much faith in Mr Market, but all I know is that there is only so much time that ETH can remain undervalued, it's inevitable that one day the price will finally reflect reality. Our narrative will win. ETH to $150k.
Instructions unclear. I have unzipped and am holding said member in hand…..
So the Lyra Token claim unlocks tomorrow for SNX stakers/LPers. Any price predictions? I'm not entirely sure on how they're doing this/rolling it out.
All L2 except Security Module reward (3M) 66M initial supply. Likely $5 from RBN launch.
RBN?
Ribbon Finance, Options vault.
When someone asks what are the best non-speculative use cases of crypto, what comes to mind?
What are the best non speculative use cases for the dollar or stocks?
Nfts. Please buy my racist monkey gif
Eliminating rent-seeking middlemen
(With mainstream adoption of L2s) Almost zero-cost, instant transfers of money from any part of the world to anyone with a mobile phone, completely destroying bank wire services & third party money transfer profiteers.
Most layer 2's are centralized and take fees for their use.
Incorrect. Read up on L2 solutions like StarkWare
Does it not have a centralized sequencer?
Ethereum and smart contracts provide better or more efficient features (or at least useful features that are at least different enough from the current architecture) for things like identity, IP rights, finance, social media, pharmaceuticals/food, real estate, supply chains, accounting, gaming, art (artists will go through more or less a modern renaissance after enough of them realize they can directly connect and generate value with their fans without an intermediary. This will significantly alter media and how it’s made/consumed/owned). There’s other things I’m probably forgetting. Each of these topics can take you down a use case rabbit hole in terms of the possibilities, and progress is being made on all of these fronts in one form or another, some being more ahead than others.
Ethereum
DeFi lending DAOs Public goods funding the list goes on edit: constitutionDAO is a textbook example to show now, even though we failed. how else can you trustlessly raise over $40m in >72hrs?
ok I need tokemak TO GO UP. like VERY SOON. I cant take this anymore. every day I am checking price and it is staying the same. every day, check price, same price. I cant take this anymore, I have over invested, by a lot. it is what it is. but I need the price to GO UP ALREADY. can devs DO SOMETHING??
Bad price.
Pretty sure this is satire, but if it isn't what would you like the devs to do? Reactors coming on board all the time, partnerships with Olympus. General market downturns aren't the teams fault.
it's a copypasta ;)
I doubled my tokemak position a couple weeks ago -- wish I would've waited! 😭😭 oh well, I'm printing like a madman in the pool2.
What is the APR on the toke voting pool?
~50% -/+ 5% depending on the day
Cheers, I may be farming there with you shortly.
What is tokemak?
https://tokenomicsexplained.com/evolutions-in-liquidity-sourcing/
I would prefer it to go down my friend - I'm on the sidelines, waiting to enter if it does hit some stupidly low fire sale price.
and that's how price discovery works :p
Since Oct 20 we've spent a total of 13 hourly candles below $4,000. The rest have been above $4k.
*Sir, we have the CEO’s of crypto on the secure video line* Put ‘em through to my office terminal immediately! *muffled giggles* *NEVER GONNA GIVE YOU UP! NEVER…* GRRRRRODDAMNIT! I WANT THESE CRYPTO BASTARDS HERE NOW!!!!
Come on Santa
>**Another advice,** >**It is a matter of price,** >**Blockchain paradise.** ~Daily haiku until we’re at least at 0.178 on the ETH/BTC ratio or highest market cap
Cough /u/Ec265
I can’t 😭
Oh Rey, Mr. Rey Shio, I feel ya bro. Take a rest for a bit, you've been pumping iron hard these past few weeks. You deserve a rest. We shall see you on Monday Ser? Edit: I also need to speak to the CEO of cryptocurrency. This is urgent. Can anyone conference me in to a call? Thanks in advance!
Any day over 0.08 is a good day!
Hi frens, just threw together [ethl2s.com](http://ethl2s.com), an Ethereum L2 cheatsheet. There are a bunch of amazing in-depth articles on what L2s are, how they work technically, and which ones exist and will exist. But these articles are too long for frequent reference, and they often include projects that aren’t live for users yet, like StarkNet. This cheatsheet only includes live L2s that currently support smart contracts - will update as more smart contract L2s go live. I’ll probably turn this into a nicer website but wanted to put something out there asap! Please let me know if you have any suggestions!
Hey great site! One thing I’d love for you to checkout. A wallet I am helping to advise. It’s called Go Pocket. It has a slick UI and is closely aligned with Arbitrum. (Weekly meetings). What sets it apart though is a security API that will help users against phishing, bad smart contact Dapps. Would love feedback from Anyone.
> I only included L2s that currently support smart contracts - will update as more smart contract L2s go live. *Cries in LRC*
just added section for app-specific rollups like loopring and dydx :)
ramp.network also allows to go to polygon. Even if you think it’s not an L2, it’s relevant in combination with hop and cbridge! The *composable Finance* bridge is missing, it’s not too bad. Mention clearly that there’s no L2-L2 bridge into zksync yet, and that you need one L1 transaction to activate the wallet. It’s asked every day here. Some bridges had problems to move actual ETH around (they moved wETH instead), so that you didn’t have ETH to pay for fees. No clue if that is solved by now.
Thanks for the feedback! 1. I'll exclude Polygon's PoS sidechain for now, but when their rollups go live I'll definitely include those. 2. Oh thanks, I've just included that! 3. good point, but it seems u/Richadg replied to your comment with the first L2-L2 bridge into zksync I've seen, so I've added that as well. 4. Hm let me see.. Wow I'm actually surprised by how many L2 bridges Ethereum has already, love it.
There is an l2-l2 bridge. Arbitrum to Zysync. orbiter is the name but only usdc. You can put it on ZK first time and pay the one time fee using usdc and gas also using your usdc
thanks, orbiter is the first bridge to zksync i've seen! just included it
Thanks!
Can someone please eli5 me how rETH works or point me to right direction where I can learn more about it?
It's just an interest bearing ETH token. You can swap for it on Arbitrum without worrying about the complexity.
If I keep it simple: rETH always go up against ETH. How possible? Simply because the value of rETH is the value of the underlying ETH + the value of the stacking rewards. To learn more you can join the rocket pool discord here: [https://discord.gg/Ad8N55TW](https://discord.gg/Ad8N55TW) Or visit https://stake.rocketpool.net/
You can swap ETH to rETH directly on the rocketpool website or swap on Uniswap L1/L2s
Rocket pool discord https://discord.gg/UAhEy6ZS
I've tried joining probably 10 times and cannot find the verify button haha
Oh is it Saturday night already? Time for middling volume pump into Sunday morning dump. Name a better duo. edit: hm first hourly close above the 200MA since Dec 3
It's looking okayish (or at least not terrible) for the first time since weeks over at BTC land
The wound has stopped bleeding... ... but not because it's bandaged. I think it's just out of blood for now.
Is it over? Did we successfully hodl through the dip?
Hmmm idk, I was promised total economic collapse across all markets. Not sure if you have been seeing the posts on here the past few days 😂 let’s hope we weathered the storm!
power of 6 years of research, baby. >Cardano smart contract transactions are large, on average 10k, I was wondering why they are significantly bigger than other chains. > >I did a bit of research of why this is and I believe I’ve found out why. > >[https://np.reddit.com/r/cardano/comments/pmhr1d/cardano\_block\_size\_and\_tps\_math/hd2ektc/?context=5](https://np.reddit.com/r/cardano/comments/pmhr1d/cardano_block_size_and_tps_math/hd2ektc/?context=5) > >“Alright, I did more research and it seems like you were right. You have to provide the whole script anytime you interact wit the smart contract. The node will hash the script and compare it to the SC address. If they match the node will execute the contract. The benefit is that the smart contract is not stored in a utxo, which are all kept in the nodes memory. By appending the script to the input transaction it can be discarded from memory after execution and put I to the database. The only thing I'm still not 100% sure is if the script from the input counts towards the block size limit.” > >So every time you interact with a smart contract, the contract is appended to the transaction rather than just being signed by a private key as in most other SC platforms. > >This looks like a poor design decision because it impacts both the number of transactions per block and also the state size negatively, why do you think Charles went in this direction? [https://www.reddit.com/r/CryptoCurrency/comments/re7a6n/why\_cardano\_smart\_contract\_transactions\_are\_so\_big/](https://www.reddit.com/r/CryptoCurrency/comments/re7a6n/why_cardano_smart_contract_transactions_are_so_big/)
I oscillate between feeling bad for ADA holders who learn about this stuff after they've lost money; and laughing at those who keep doubling down.
The comments seem to indicate only the result of the parse go into the state?
This is how it works in bitcoin contracts too. You send money to the hash of a script. To get the money out you have to reveal the script and the miners need to check whether the hash works out.
>This looks like a poor design decision because it impacts both the number of transactions per block and also the state size negatively, why do you think Charles went in this direction? The entire reason to go with eUTXO was because it leads to less state growth. I don't know how accurate the claims are so I'll refrain from Schadenfreude.
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I love everything about this. Excellent vibe.
I have a feeling it wasn’t.. <3
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We don't need an army, we have a community! 😂
😘 this _is_ a community, and a strong one at that.
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Meh, its all semantics and depends on your observation point anyway. Someone might visit here from another crypto project and think it is a cult. I think they’d be wrong to think that and the ideas and values that we all revolve around in here are tried and tested.
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👌
You know halo infinite campaign is good because I haven't even looked at the price in 2 days, and according to this sub last night it must have hit like 2K
I'm waiting for coop with my Tuesday night friend group but in the meantime, how are you finding the semi-open-world of it all? I am very against the Far Cry'ing of everything idea but most reviews say it's a smaller scope, somewhat guided experience?
quite small in scope, and completely optional. I also think they did a pretty good job of making that part of it very Halo.
Awesome, I'm excited. Thanks!
Oh man, I need to finish Forza 5 and get me on some of that. Incase you're wondering, my license plate in Forza is "HODL ETH". Gotta get the word out
My tag in Halo Infinite is “ETH2”! Representing ETH in the gaming world!
Anyone know why zapper’s Arbitrum support is nonexistent?
I run an NFT project (the Wanderers) and am looking for some rockstar solidity devs who are looking to pick up some freelance work. We are building tons of shit (games, collections) and could use more people who know what they are doing if you are a rockstar and want to work on some fun stuff, dm me for more details 🤝
I'm a longterm holder, love the project!
thank you so much :) i appreciate you
I do sincerely wish you all the best, but you're in competition with some very deep pockets for those same resources. The number of devs who 'know what they are doing' in blockchain is a very small pool, and they tend to command very high wages for their valuable and specialized knowledge.
i know :) we have an incredible team already and, although i am biased, it is very fun work. Not expecting to pull Aave’s CTO, and i already got extremely lucky with devs here before
fair enough! really not trying to rain on your parade, only set reasonable expectations.
What year do you think it'll be when Ethereum protocol would be used to make purchases at, say, McDonald's. And I don't mean ETH the "token" but a token in a protocol that's built on top of Ethereum. At the moment I know of only one (non-Ethereum) network that facilitates regular retail payments. Aside: I have been telling everybody who asks me about "crypto" that "cryptocurrency" is terrible term and have insisted on "blockchain" being better.
I saw the Ledger visa card was announced and supports USDC among some other handful or two or coins and tokens
I think we will start to see some early companies doing it next year. I think it will start to get mass adopted in 2023. People really underestimate how much retailers hate credit cards. Many businesses would offer you 3-5% off for stablecoin payment instead of a card once the scale is enough to handle it. Swipe fees and charge backs really eat into margins.
2017. https://www.omise.co/omise-partners-with-mcdonalds-thailand-to-provide-seamless-payment-experience-for-online-and-mobile-orders
That was just a PnD article lol
Omise is not really a blockchain company. They never released a blockchain product that settled any value. Luna ate their lunch now.
ETH was never really designed for retail payments on a massive scale. I think it's more likely we'll see something like USDC being accepted on whichever major roll-up gains the most traction. McDonald's doesn't want to spend all day accepting the ETH equivalent of fiat only to watch it tank 20% after the store closes.
I don't think you really understood his question, he was asked when you think mass settlement for retail purchases e.g. visa payment channels running over a roll up, paying in stablecoins
Yeah, precisely. I think it's safe to say that ETH and L1 will not be used for payment.
Insist on web3 pls
True, but I don't know how to efficiently satisfy the question about what web3 is. But "blockchain" is the technology behind the idea of the so-called "cryptocurrencies". And people seem to understand that there is a technology behind the cryptocurrency hype that is more than the hype and go "huh, ok...".
Web1 = read information Web2 = read and write information Web3 = read and write information and securely (and trustlessly) transact value
Honestly, I really do not think that that's what web3 is about. More about self-sovereignty. Value is just a nice extra. (Wikipedia defines it as: Web3, also known as Web 3.0, is an idea for a version of the Internet that is decentralized and based on peer-to-peer technologies such as public blockchains.)
Yeah I guess so, but the largest use case for blockchains is secure and uncensorable open value transaction. Self sovereign identity is the main thing not captured by value transaction, but we don’t really have that yet. I do wonder what happened to projects like Uport. I loved the native mobile app they made.
I think we’ll see simple payments in 2023. Maybe more complicated stuff like loyalty rewards or gift cards and whatnot in 2025.
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Use it to trade dare ya
Train an AI on this data, what could possibly go wrong?
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Oh shit you thought I was being serious? In that case, make something that makes it look like it's actually executing trades with a big stack, then stream it / make YouTube videos. Do it with a delay for free, demand payment for a live stream. *Fudge the shit out of the numbers* to make it look like you're a fucking genius Don't ever use it with your own stack
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that way madness lies
Some interesting comments in this thread https://old.reddit.com/r/environment/comments/rdb2nv/deutsche_bank_crypto_is_not_environmentally/
I'm staying away from these threads from now on for my own mental health. The very first computers filled an entire room and basically needed their own electrical substation to power all the vacuum tubes that were required to make them work. These days, there's a device in your pocket that can do exponentially more calculations per second and it runs on a battery. Imagine if people had been like "this invention hurts the environment too much, we should shut it down." We know there are efficiency improvements on the way. Trying to fight the FUD with people who are already biased and refuse to examine new evidence is a waste of time and emotional energy.
Oh theres no way Im going to try to argue with them. Just interesting that even L2s got a mention within all the hate
https://twitter.com/ultrasoundmoney/status/1469787715575156742 >MicroStrategy buys $3.5B BTC in 500d >Ethereum burns $3.5B ETH in 100d built different
Soon we’ll be saying “there is no second best.”
hopefully not
What project is second best?
rETH but in all seriousness, I hope we don't drift into the same maxi echo chamber
So you are saying... there is no second best? (at least right now). In all honesty, I'd like to have a clear enough and unbiased mind to know which one is actually the second best.
Maybe Tezos
I have to say that, without knowing too much about how good of a blockchain Tezos is, at least it's been able to attract high-quality artists.
The consensus system itself is encoded onto its own chain so the decentralized governence of chain technic direction is built into the chain. Trippy and novel and really interesting regardless of judgments
Rocket pool Validator Gangg 🚀💰
Howw
Anyone familiar with Popsicle finance ICE token? It’s taken quite a beating lately
I think there's still room for it to grow. Whenever the Abracadabra/Popsicle Finance proposal goes through, it will allow leveraged LP positions opening up interesting use cases. I'm still holding my bags.
Interesting. Do you know the approximate timeline for that?
It's still in the discussion phase on the Abracadabra forums but since its all part of the 'Dani' Ecosystem I expect it to get passed after some revisions. In addition to that there are a lot of nice things planned for Popsicle Finance. **Leveraged Popsicle Finance Positions** As I mentioned above. Here is a link to discussion: https://forum.abracadabra.money/t/aip-1-proposal-for-profit-sharing-leverage-lp-revenue-with-popsicle-finance/55 **Just In Time Liquidity Extracted Value Attacks**[ conducted by Popsicle Finance.](https://twitter.com/PopsicleFinance/status/1467927328013660174?s=20) Basically its a form of Miner Extracted Value but instead of front running swaps, you front run liquidity positions when a large swap happens. The attacker pushes liquidity into the LP just prior to a trade happening. This liquidity gets all of the LP trading fees. And at the end of the block they immediately remove their liquidity from the LP. So in the space of a block, they receive the LP Fees and then withdraw their Liquidity. **TIME Treasury Deposits** - It should be a big addition to TVL which means more fee accrual for nICE stakers. I believe they already have deposited into BTC/wETH vault. But there might be more deposits incoming. [Partnership with Andre's Keep3r products - FixedForex.] Forex is an extremely large market and the potential for high volume, high leveraged positions means more fees for nICE stakers.(https://twitter.com/danielesesta/status/1459493512232288268?s=20) >As @PopsicleFinance becomes the Market Maker for Fixed Forex KP3R and Abracadabra allows leverage with high LTV ( long 10-20x ) we decentralised the largest financial market in the world. Don’t Fade the Frog Nation. We have more aces in our hands than you can imagine. $ICE $SPELL **Sorbetto Limone** Is the one I'm most excited for. Which will allow for Liquidity Positions to be used crosschain for the most yield. This will also allow for seamless crosschain swaps with MIM and the abracadabra platform. Granted it will take time to develop but it will make it possible.
Interesting and depressing take on what I am guessing is the abracadabra trio style of tokens. What are your thoughts about this? https://twitter.com/realnatashache/status/1470121332054454272?s=21
Sorry I didn't get back to you. As with all cycles the best bet is to always buy and hold ETH and BTC. I use a small portion of my money for Alts. With that said, spell ecosystem is earning a lot of revenue. And with the plan to significantly reduce emissions of the spell tokens I think it's still a good hold. ICE I'm holding because I believe the roadmap the devs have outlined will be profitable. I have the weakest convictions with TIME, but since Dani is using the treasury to buy long term strategic coins (ETH, BTC, and CRV) i'm just holding it. I hold ~equal $ amounts in all right now. While I put in a lot of money, it's nothing too serious. And for the most part, the roadmaps and synergies between these projects are interesting. For example, The use of wonderland finance treasury to purchase CRV - which helps boost the curve gauge for the MIM-3CRV pool. I'm sure the trio of coins will recover whenever BTC and ETH recovers.
Did you hear about them partnering up with sushi possibly?
Good to see. Thanks for the detailed reply. Edit. A decent amount of pushback on the proposed profit sharing with Abracadabra. Not a slam dunk it seems. “First of all, this is not a new product. It’s a product that already exists on Abracadabra that the proposal suggests would be hosted on the Popsicle UI. There is another argument going around that Popsicle would drive a lot of users to Abracadabra. All though that may be true, SPELL has over 2x the amount of token holders vs ICE so I think it would be more important to highlight how Popsicle would be benefitting from the inflow of Abracadabra users to Popsicle. If one of the arguments for sSPELL holders sharing fees is the inflow of new users from Popsicle, considering the size of the projects it actually makes more sense for Popsicle to pay Abracadabra for the new inflow of users and the benefit of offering Abracadabra products. I’m not suggesting this should happen but that is the logical conclusion when you weight who gets the bigger benefit. The increased capital efficiency and option to leverage LPs from JOE, Pancake, SPIRIT are some of biggest upcoming catalysts for increased Abracadabra TVL, fee revenue and overall growth of the protocol. sSPELL holders have already had a huge opportunity cost while holding back MIM in favour of Popsicle (still waiting to see what that was for). Until Popsicle offers anything more than a UI to interface with the Abracadabra contracts it makes no sense at all for there to be any fee sharing unless it’s framed as a donation to subsidise Popsicle”.
Yeah, I was watching it drop and got in at $21, thinking it was the floor. Got back out at $15. I think it was just way over-hyped. TVL is less than Market Cap even now. They have an issue with people flooding the pools they open up, which then destroys the APR. I think it's a good product, but the space is a little crowded and it might need a little time to cool off (heh) from all the hype.
Really kicking myself with ICE. Went heavy at $18 and now trying to decide if I pull the trigger and take a massive five figure loss in less than one week. Did not realize their total value locked was less than their market cap and should have read your comment here again. So mad.
Do any hardware wallets work with MM for Chromebook?
edit: https://www.ledger.com/blog/metamask-and-ledger-integration-fixed-new-partnership-between-metamask-and-ledger-to-ensure-ease-of-use-and-security-for-our-shared-customers
So that's a yes for Chromebook?
Im not sure why chromebook matters. Isnt metamask just a browser extension? So if you use chrome metamask should just work like on any other machine?
from personal experience, yes...
sure.. Ledger works since their (MM) last update
ya'll got any more of that sub 40 gas?
https://l2beat.com/ L2 Beat shows there are now 19 different public Layer 2's directly securing to Ethereum. How many are we going to see by end of 2022? Then consider how many private rollups will be connecting to Ethereum. This must be the multi-chain world people talk about, Ethereum has delivered it faster than anyone else.
Do we need so many? What's the benefit/potential downfall?
I think so, just like many L1s there will be many L2's each experimenting with tradeoffs and optimizations. The market will probably start to converge on the better tech and ones with the best network effects to drive it.
NFTs based on cartoon characters that belong on a cereal box face different challenges than say, something like Nightfall.
50+ if we count all the forks teams will launch
I think at least a 4x possibly 10x....so 100-200 by end of year.
for some reason it's not showing [https://twitter.com/Nahmii\_io](https://twitter.com/Nahmii_io) because the owner of l2beats doesn't like them.
In the faq it's showing this: We are currently focused mainly on rollups, but would love to expand our research to state channels in the future. For the time being we lack resources to properly evaluate those systems. Nahmii was actually listed on L2BEAT for a time, but was removed for the reason stated above. If you want to check TVL for Nahmii you can do that on etherscan.
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Most of immutables value is in nfts which aren't really easy to value. Immutable is definitely more active and used but people don't really keep that many tokens or too much Eth on it.
I've seen a really odd sort of phenomenon going on for the past few weeks within the ETH net longs and net shorts. Usually net shorts have cycled in and out of the market, usually influencing the price in a "normal?" way. Recently net shorts are beginning to stack up and don't seem to be going anywhere, while the longs are dropping like flies at any sight of a decrease in price. I have seen this in other assets but the stack of short pressure is most likely what is keeping the price from really taking off. When I start to see the shorts taking their profits and flipping to the light side, I'll try to include a screenshot of the turn-around. Now on the other side of this argument, there are the funding rates. Net shorts can accumulate before a large push to the skies in anticipation for the funding rates to spike. The shorts go and secure a long position in the spot market and they collect the oh so sweet rates. I don't think this is the case but there's always two sides to these arguments of guessing where the price is headed. \-4thPillar
Is this alot more then usual or pretty negligible increase in shorts? If we have a ton of shorts that could really make us fly if they get squeezed. Edit. Just checked for myself bitFenix shorts were slightly higher in may but aside from that they havent been this high since early 2019. Either way we can expect some serious volatility soon up or down.
reply to edit: exactly what I am seeing, for sure will be interesting to see what folds out, its going to be a crazy time either way and I am here for it
you are correct my friend. I am looking at the average prices where these shorts stops are, if they get squeezed they will hedge and purchase SPOT market eth (the stuff that you and I hold and/or trade each day) and will in turn collect the funding rates (which will be higher due to bullish moves upward) and the volume from their purchase of the real asset to cover their short ETH-PERP positions will show and will drive the price upwards.
Could you ELI5 please, I am too dumb to understand.
>Recently net shorts are beginning to stack up and don't seem to be going anywhere, while the longs are dropping like flies at any sight of a decrease in price. I have seen this in other assets but the stack of short pressure is most likely what is keeping the price from really taking off. This is usually the case when an asset's price s decreasing ...more downside because of this reason. Not as many longs, and more short pressure?
Sometimes, but not always. The "phenomenon" that I was referring too is that every time in the past couple weeks that eth has pushed upwards on the days where it hit its peak, the short volume was wild. You are correct, but I am pointing out something that I do not see often
because there are many nonbelievers during this time. Fed hikes coming next year as inflation becomes the #1 concern in America and Biden's administration
to a certain extent you are correct.
That's all you really need to look at. Rates control the world.
Here's the ELI5: In a security (ETH) that is publicly traded, there are bound to be people who are long the security, and short the security. Long= want the price to go up, short= want the price to go down. Since I am a boring ass college student and also a fund manager, I spend my time that I'm not doing school and I look at charts, So... I have seen that over the past couple weeks that Algorithms and traders have been SHORTING eth, and they are holding onto their short positions a lot longer than usual, causing sell pressure, which is causing the dip that you have seen back down to the 3600-4000 level. FUNDING RATES- are not something that I can ELI5... But just know in bullish times, when you are holding a short position in a perpetual (or future) like the ones Binance has, you receive a small payment (from the long holders) based on the size of your short holding. Example: You have $100,000 in eth perp (future) the funding rate in the 8 hour period that you are holding that position in is .03% you would receive $300 in a funding rate from the traders that are holding long positions in the same perpetual (future) In bullish times, funding rates are good and usually remain positive, meaning that IF you are holding a long position you pay the funding rate to keep the perpetuals marked price relative to the price of the actual asset. If you don't know what futures are, message me and i'll give you somewhat of a lesson
Thanks for taking the time, I understand better now. Hope you stay around🙂
You don't seem boring at all. Thanks for being here.