rektdiomedes Profile picture
Jul 7 39 tweets 163 min read
Thread: Here’s The Biggest Stablecoins You Can Actually Invest In

🧵

So… as I’ve said before, I think stablecoins are clearly the stickiest ‘use case’ for crypto/defi so far, and I sincerely believe we’ll one day have trillions of dollars of them on-chain…

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However, some of the biggest ones- like $USDC and $USDT obviously- you can’t invest in…

So, here’s a thread of all the stablecoins you CAN invest in 😊

[Also: H/t to my man @JackNeiwold for the awesome 'alignment' meme in first tweet - it was too good not to reuse!]

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@JackNeiwold One: $BUSD via $BNB

$BUSD is the third biggest stable after $USDC and $USDT, and currently has the 6th highest market cap of any token.

The relationship between it and $BNB is a little more theoretical... (cont)



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@JackNeiwold ...than with some of the coins we’ll look at in this thread, but it is certainly fair to say that being bullish on $BUSD would suggest a bullishness on $BNB as well.

Here’s a great thread on the success of $BNB/ BSC/ @cz_binance:



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@JackNeiwold @cz_binance Two: $DAI via $MKR

$DAI is the 4th biggest stablecoin currently, with a market cap of $6.45B, and notable as the largest over-collateralized one.

Users deposit assets into @MakerDAO, then take loans against them in $DAI.



5/
@JackNeiwold @cz_binance @MakerDAO @MakerDAO is doing some extremely interesting things, including now with RWA (real world assets).

Here’s some good info on Maker from @JasonYanowitz:



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@JackNeiwold @cz_binance @MakerDAO @JasonYanowitz Three: $FRAX via $FXS

@fraxfinance is the creation of gigaChad defi’er @samkazemian (see below).

Frax is a partial algo stablecoin that is 80-90% backed by other assets and 10-20% backed by $FXS, HOWEVER…

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@JackNeiwold @cz_binance @MakerDAO @JasonYanowitz @fraxfinance @samkazemian ...Sam and co have done such an amazing job of building the treasury and protocol-owned liquidity that they essentially “own the peg” at this point, and $FRAX has seen no de-pegging during all this market craziness.

Excellent @fraxfinance thread:



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@JackNeiwold @cz_binance @MakerDAO @JasonYanowitz @fraxfinance @samkazemian Frax has been building like crazy despite the bear market, and also is going to be utilizing part of its treasury to do a buyback of $20M worth of $FXS.

Also make sure to follow @flywheelpod, @charlie_pyle, @curvecap, and @fraxbull1 for $FXS alpha.



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@JackNeiwold @cz_binance @MakerDAO @JasonYanowitz @fraxfinance @samkazemian @flywheelpod @Charlie_Pyle @CurveCap @fraxbull1 Four: $USDN

$USDN is a stablecoin connected to @wavesprotocol. It is the 8th biggest stablecoin and has a market cap of $761M.

It had some significant de-pegging issues in the weeks after the Luna/UST collapse, but has not been in the news much the last few weeks.

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@JackNeiwold @cz_binance @MakerDAO @JasonYanowitz @fraxfinance @samkazemian @flywheelpod @Charlie_Pyle @CurveCap @fraxbull1 @wavesprotocol I don’t have strong feelings about $USDN and had trouble finding a lot of good info to link to either.

Here’s a recent thread on it though:



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@JackNeiwold @cz_binance @MakerDAO @JasonYanowitz @fraxfinance @samkazemian @flywheelpod @Charlie_Pyle @CurveCap @fraxbull1 @wavesprotocol Five: $USDD via $TRON

$USDD is the stablecoin tied to the Tron blockchain, created by the infamous @justinsuntron.

It currently has a market cap of $719.3M.

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@JackNeiwold @cz_binance @MakerDAO @JasonYanowitz @fraxfinance @samkazemian @flywheelpod @Charlie_Pyle @CurveCap @fraxbull1 @wavesprotocol @justinsuntron It received a lot of speculation regarding a Luna/UST-style “death spiral”, but so far that has not happened, and it has been gaining more and more market share over the last two months.



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@JackNeiwold @cz_binance @MakerDAO @JasonYanowitz @fraxfinance @samkazemian @flywheelpod @Charlie_Pyle @CurveCap @fraxbull1 @wavesprotocol @justinsuntron Six: $FEI

$FEI is the 12th largest stablecoin, at a market cap of $359M. It is an ETH Mainnet protocol and has some brilliant founders.

Fei Protocol was in the news a lot this last year re: Rari merger + hacks.



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@JackNeiwold @cz_binance @MakerDAO @JasonYanowitz @fraxfinance @samkazemian @flywheelpod @Charlie_Pyle @CurveCap @fraxbull1 @wavesprotocol @justinsuntron It has since been getting attention over contentious votes relating to how best to deal with the fallout of those hacks.

Here’s a thread from @0xMaki that’s a good starting off point (though slightly dated) if you’re interested:



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@JackNeiwold @cz_binance @MakerDAO @JasonYanowitz @fraxfinance @samkazemian @flywheelpod @Charlie_Pyle @CurveCap @fraxbull1 @wavesprotocol @justinsuntron @0xMaki Seven: $MIM via $SPELL

$MIM – which is similar in structure to $DAI - has had one of the most fascinating trajectories of any token in crypto…

It only came out in the latter half of last year, and by the end of January of this year had almost reached a $5B market cap.

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@JackNeiwold @cz_binance @MakerDAO @JasonYanowitz @fraxfinance @samkazemian @flywheelpod @Charlie_Pyle @CurveCap @fraxbull1 @wavesprotocol @justinsuntron @0xMaki However after all the Wonderland craziness + Luna crash + overall crypto crash, its now down to under $200M.

There's never been any argument that it’s a useful, innovative protocol tho, and there are still many folks who are bullish on it.



17/x
@JackNeiwold @cz_binance @MakerDAO @JasonYanowitz @fraxfinance @samkazemian @flywheelpod @Charlie_Pyle @CurveCap @fraxbull1 @wavesprotocol @justinsuntron @0xMaki Eight: $alUSD via $ALCX

$alUSD is the stablecoin of @AlchemixFi, a very popular defi protocol on multiple chains. It is the brainchild of @scupytrooples, and currently has a market cap of $185.9M.

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@JackNeiwold @cz_binance @MakerDAO @JasonYanowitz @fraxfinance @samkazemian @flywheelpod @Charlie_Pyle @CurveCap @fraxbull1 @wavesprotocol @justinsuntron @0xMaki @AlchemixFi @scupytrooples @SalomonCrypto Nine: $LUSD via $LQTY

$LUSD is the stablecoin of @LiquityProtocol. Its like Dai/Maker but only accepts $ETH as collateral. Market cap is currently $171.8M.

Here’s a great jumping off point thread on it from the wonderful @korpi87:



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@JackNeiwold @cz_binance @MakerDAO @JasonYanowitz @fraxfinance @samkazemian @flywheelpod @Charlie_Pyle @CurveCap @fraxbull1 @wavesprotocol @justinsuntron @0xMaki @AlchemixFi @scupytrooples @SalomonCrypto @LiquityProtocol @korpi87 Ten: $sUSD via $SNX

$sUSD- MC $89M- is the synthetic version of USD from OG synthetics protocol @synthetix_io, which has been one of the few big bright spots in defi the last couple months.

It was founded by @kaiynne.



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@JackNeiwold @cz_binance @MakerDAO @JasonYanowitz @fraxfinance @samkazemian @flywheelpod @Charlie_Pyle @CurveCap @fraxbull1 @wavesprotocol @justinsuntron @0xMaki @AlchemixFi @scupytrooples @SalomonCrypto @LiquityProtocol @korpi87 @synthetix_io @kaiynne @Cryptoyieldinfo Eleven: $OUSD via $OGV

This is the stablecoin of @OriginProtocol. MC $66.5M.

I honestly do not know that much about this one, however they have a very active twitter account you can get more information from:



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@JackNeiwold @cz_binance @MakerDAO @JasonYanowitz @fraxfinance @samkazemian @flywheelpod @Charlie_Pyle @CurveCap @fraxbull1 @wavesprotocol @justinsuntron @0xMaki @AlchemixFi @scupytrooples @SalomonCrypto @LiquityProtocol @korpi87 @synthetix_io @kaiynne @Cryptoyieldinfo @OriginProtocol Twelve: $YUSD via $YETI

@YetiFinance is the flagship native stablecoin protocol of Avalanche, and has had a very respectable performance since it launched several months ago.

It currently has a marketcap of $57.7M.

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@JackNeiwold @cz_binance @MakerDAO @JasonYanowitz @fraxfinance @samkazemian @flywheelpod @Charlie_Pyle @CurveCap @fraxbull1 @wavesprotocol @justinsuntron @0xMaki @AlchemixFi @scupytrooples @SalomonCrypto @LiquityProtocol @korpi87 @synthetix_io @kaiynne @Cryptoyieldinfo @OriginProtocol @YetiFinance They allow you to borrow $YUSD by depositing a wide range of tokens, including interest-bearing ones, so you can be earning yield while borrowing.

There’s lots of great info on @YetiFinance out there, but here’s a good thread on it from @avaxholic:



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@JackNeiwold @cz_binance @MakerDAO @JasonYanowitz @fraxfinance @samkazemian @flywheelpod @Charlie_Pyle @CurveCap @fraxbull1 @wavesprotocol @justinsuntron @0xMaki @AlchemixFi @scupytrooples @SalomonCrypto @LiquityProtocol @korpi87 @synthetix_io @kaiynne @Cryptoyieldinfo @OriginProtocol @YetiFinance @avaxholic @QiDaoProtocol They have built partnerships with a ton of other protocols, and $MAI had a market cap of $350M and growing fast before the overall crypto market began crashing this spring.

Here's a thread I did on them from a few months ago:



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@JackNeiwold @cz_binance @MakerDAO @JasonYanowitz @fraxfinance @samkazemian @flywheelpod @Charlie_Pyle @CurveCap @fraxbull1 @wavesprotocol @justinsuntron @0xMaki @AlchemixFi @scupytrooples @SalomonCrypto @LiquityProtocol @korpi87 @synthetix_io @kaiynne @Cryptoyieldinfo @OriginProtocol @YetiFinance @avaxholic @QiDaoProtocol @CeloOrg @packyM Fifteen: $agEUR via $ANGLE

$agEUR is from @AngleProtocol, a “Capital-efficient, Decentralized, Over-Collateralized Stablecoin Protocol”.

The Angle team seems top-notch to me, and has done some very respectable building throughout this downturn.



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@JackNeiwold @cz_binance @MakerDAO @JasonYanowitz @fraxfinance @samkazemian @flywheelpod @Charlie_Pyle @CurveCap @fraxbull1 @wavesprotocol @justinsuntron @0xMaki @AlchemixFi @scupytrooples @SalomonCrypto @LiquityProtocol @korpi87 @synthetix_io @kaiynne @Cryptoyieldinfo @OriginProtocol @YetiFinance @avaxholic @QiDaoProtocol @CeloOrg @packyM @AngleProtocol $agEUR mc=$51M and $ANGLE mc=$5M.

I think the use case for a decentralized Euro stablecoin like $agEUR is particularly bullish given the recent news of all the regulatory hurdles the EU is placing in front of Circle’s $EUROC.

Good thread on this:



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Here's a link to the beginning of the thread, please rt if you found it useful! :)

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More from @rektdiomedes

Jul 4
Thread: Here's The Best Crypto + Macro Videos I Watched This Week

🧵

Alright my good frogs, here's my top videos I watched the last seven days...

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One: @LynAldenContact on @TIP_Network

This was a fantastic interview with a lot of fascinating monetary history stuff and thoughts on current macro climate.

Really cannot recommend it enough:



2/x
Two: @Charlie_Pyle from @Pitch_Money on the @flywheelpod

Charlie is a wicked smart, very impressive dude and if you have any interest in Frax/Curve/etc I would recommend it highly:



3/x
Read 10 tweets
Jul 1
#FF:

There's probably 500 absolute Chads I follow who I'd recommend, but off the top of my head here's a few you might not know:

@DeFiyst - gigabrain high-iq analysis, similar to @OnChainWizard (who is also amazing)

@cryptolad1256 - very smart dude, general defi alpha

1/x Image
Cont:

@Charlie_Pyle - founder of @Pitch_Money. If you like FXS/CRV/CVX stuff I'd follow him.

@samkazbot - reposts of @samkazemian's TG activity.

@ClintFiore - non-crypto account (irl biz broker) but seeing his massive/purposeful action on my TL helps keep me motivated.

2/x Image
Cont:

@thedulab - non-crypto, ridiculously good life alpha. Highly recommended.

@AnthonyLeeZhang - extremely insightful observations on crypto/defi.

@resdegen - on-chain defi stuff, very high signal:noise.

3/x Image
Read 4 tweets
Jun 28
Thread: What Weimar Germany Can Teach Us About The 2020's (Un-Ironically)

🧵

So, 'Weimar Hyperinflation' is often a lazy metaphor for our current fiat regime...

HOWEVER, at the same time, there is a lot we can learn from studying what happened there...

1/x
This thread is definitely not to suggest that the US/Europe/etc is going see such hyperinflation over the next 10 years...

However...

The 'extremes inform the means', as they say, and there are a lot of parallels between Weimar and the situation today.

2/x
As a quick recap, 'Weimar Germany' essentially refers to the time in Germany between the end of WWI and the Third Reich, and is generally associated with the 1920's specifically.

Its most famous feature was the hyperinflation that occurred.

3/x
Read 26 tweets
Jun 26
Thread: Is The "L1 Rotation Trade" Dead?

🧵

The last bull market was absolutely dominated by L1's and the so called "L1 Rotation Trade"...

But will this be the case in the future?

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We all remember what happened in 2021...

All the L1's absolutely dominated the charts and grew to valuations well into the tens of billions...

To wit:



2/x
If my memory serves me right, we at one time had ETH, BNB, LUNA, SOL, ADA, DOT, and AVAX all in the top 10 tokens by market cap, with MATIC + NEAR not far behind. (poor Fantom never got the respect it deserved fr)

3/x
Read 24 tweets
Jun 20
(cont.) Thread On Avoiding Contagion As A Degenerate Ape...

Here’s another thread on $USDT from the above-mentioned @otteroooo, back in May, who expounded in-depth on it, and gives a Tether collapse a 15% chance of happening in his estimation:



26/x
On the Tether side, here is their most recent official response to the speculation:



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They also- interestingly- just announced a little while ago that they will apparently be pursuing a full audit from a top 12 accounting firm:



28/x
Read 23 tweets
Jun 20
Thread: The Crypto Bulltard’s Guide To Potential Further Contagion

🧵

So… the question on everyone’s minds right now is ‘Will the LUNA/Celsius/3AC stuff keep spreading?’ and... "Where might it spread?"

And that is the subject of this thread.

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The title of the thread refers to the fact this is NOT going to be a thread of speculative Schadenfreude. I genuinely feel bad for any/every individual or entity rekt by the current market conditions.

I’m also a true believer in on-chain smart contract-based systems being..

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... superior financial plumbing and (many years from now) replacing tradf structures.

Instead this thread is primarily me curatooring the best info I have found, to try to avoid exposure and also to better position to buy solid tokens amidst capitulation.

3/x
Read 25 tweets

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