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Wew #DeFi yield farming is addictive

Deposit $LINK to @AaveAave
Use as collateral to borrow $WBTC
Deposit $WBTC to @CurveFinance
Recieve $crvRenWSBTC LP token
This LP token is 36% $renBTC, 25% $wBTC, 39% $sBTC
Stake pool token on @synthetix_io
Farm $SNX $REN $BAL & $CRV 🤯
I currently pay 1.25% APR to borrow $WBTC, but earn 4.21% APY from curve.fi/sbtc trading fees and 15.03% APY from $SNX + $REN, and soon $CRV and $BAL once those tokens launch

Through this, I have 100% exposure to $LINK, 0% exposure to $BTC, just farming the profits 👨‍🌾
Also notice how I'm only using 50% of my borrowing power on Aave, risk management is key, nothing here is risk free

More information on what makes this wizardry possible below
blog.synthetix.io/btc-yield-farm…
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More from @ChainLinkGod see all

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ChainLinkGod.eth
@ChainLinkGod
1/ As promised, here is the thread giving context into each of the amazing slides created by the @Chainlink team created and which @SergeyNazarov recently presented with

The full slideset can be found here
drive.google.com/file/d/1wAj6QE…

#Chainlink $LINK
2/ ALL blockchains suffer from the "Oracle Problem"

From Ethereum to Bitcoin to Hyperledger to Tezos to Cosmos to Harmony to Kava to Conflux to Polkadot to Zilliqa to Icon to Hedera Hashgraph to Ontology to Solana and beyond

They all require oracles for external data
3/ Smart Contracts (SCs) on their own have zero access to the external real world data they need to execute including market data, events data, retail payments, bank payments, and more
Read 29 tweets
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ChainLinkGod.eth
@ChainLinkGod
@lastmjs @alexgausman @Foobazzler @antiprosynth @reeeatine @KyleSamani While Chainlink does heavily rely on the Ethereum network today, $LINK is far from correlated with $ETH, in fact it's the opposite

The economic bandwidth available with $ETH would be completely uncorrelated with the growth of Chainlink, and this is a problem for multiple reasons
@lastmjs @alexgausman @Foobazzler @antiprosynth @reeeatine @KyleSamani As Chainlink adoption grows, the tokenomics will directly cause the token price to rise, increasing the economic bandwidth to enable more adoption, it's a positive feedback loop that wouldn't exist using $ETH
medium.com/understanding-…
@lastmjs @alexgausman @Foobazzler @antiprosynth @reeeatine @KyleSamani Having VCs subsidize the network would centralize control and is completely non-sustainable, having an allocation which can be used for growth is a huge war chest that teams like Synthetix has proved to be essential to adoption, $LINK is the kickstarter and enabler of growth
Read 9 tweets
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ChainLinkGod.eth
@ChainLinkGod
Don't forget why we're here frens

It's not just about personal wealth, but about breaking down the barriers of trust and information asymmetry in the global economy

A permissionless level playing field driven by autonomous externally-connected Smart Contracts

#Chainlink $LINK
Read 9 tweets

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