My Chads, it takes some time to understand $GHST @Aavegotchi. But no worries, let me ELI5. In order to understand @aavegotchi, we need to discuss why NFT's are getting attention from thought leaders such as @QwQiao @Rewkang @AndreCronjeTech @DeFi_Ted @gabusch @scupytrooples
The last few months DeFi has taken the industry by storm. Financial primates such as borrowing and lending, yield generation and insurance is performed by locking, staking, depositing, and using as collateral ERC20 tokens you know like $DAI, $USDT, $LINK, $YFI, $WBTC, $LEND.
Why stop there? Let's do the same with NFT's. NFT's are non-fungible tokens (i.e. each is distinct and has specific features) used to demonstrate ownership of a certain item, e.g. digital art (@rariblecom, @SuperRare_co), collectables (@CryptoKitties), digital land (@decentraland
Even more, recently NFT's have also been used to create certain financial products such as insurance.

Using NFT's that resemble digital assets (and even real-world assets) in DeFi, allows us to in the first time in history use all the "locked" liquidity into such assets for financial primates. Example: Use @enjin upcoming Minecraft items as collateral in @AaveAave to borrow money
So now that we understand why NFT's will be important in DeFi. Let's finally talk about @aavegotchi.

In @aavegotchi you create unique little creatures (i.e. NFT's) called Aavegotchi's. They are rare crypto-collectables, like @CryptoKitties, but with a twist.
To create an Aavegotchi, you need to stake it with interesting bearing Aave ERC20 tokens (e.g. aLink, aUSDT, aYFI). Yes, you heard that right. The Aavegotchi contains (through an Escrowcontract) the ERC20 tokens, and whenever you sell or buy a Aavegotchi, the tokens are included.
What makes this interesting? It means that Aavegotchis, unlike CryptoKitties, have intrinsic value (i.e. the Aave ERC20 tokens staked to create the Aavegotchi) in addition to the value from being a rare collectable. It doesn't stop there.
Like in an RPG you can equip the Aavegotchi with NFT's. Yes, an Aavegotchi (an NFT) can be equiped with (so-called Wearables) more NFT's. Aavegotchi's apparently can also poop and can breed but those details are TBD. Also, $GHST will be farmable with Aavegotchi's.
Ok Chad, now what can we do with this? The sky is the limit.
An Example:
Name: Insured YFI Aavegotchi
Created with: staking 2 aYFI
Wearable: 1 NFT Insurance for 2 aYFI with expiration 3 month underwritten by @NexusMutual.

I expect many novel Aavegotchi's to be created.
So what is @aavegotchi?

At first sight, it's a fun collectable game.

But maybe, just maybe, it will be the trend leader of sophisticated repackaging, aggregating and combining of existing DeFi products through Aavegotchi's. ,



Excited to find out!
For more info about @aavegotchi, the use-case of $GHST in this network, check out their whitepaper: drive.google.com/file/d/186zOap…

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More from @Privatechad_

24 Sep
My Chads! I'm a bit shocked how many people don't understand providing liquidity on Uniswap. But no worries, let me ELI5 without using Virgin maths.
1/ So Chad, you want to provide liquidity at a Uniswap pool, e.g. ETH:USDT pool. This means you have to provide ETH:USDT with an equal ratio (1:1). Conceptually, being a liquidity provider allows anyone to sell you USDT for ETH, and sell you ETH for USDT. What does that mean?
2/ If ETH price goes up, being a liquidity provider means you are SELLING ETH as ETH price goes UP (Ladder selling, basically).

If ETH price goes down, being a liquidity provider means you are BUYING ETH as ETH price goes DOWN (DCA Buying, basically).
Read 10 tweets
23 Sep
My Chads, earlier this week @PolyientGames finished their token sale for . One of the largest NFT token sales in history and has many people excited. The Polyient ecoystem is a complex one, and requires some time to understand. But no worries, let me ELI5.
First off, let's start with @PolyientGames. Polyient Games is an investment firm focused on NFT's and the blockchain gaming industry. They started early in 2020 and have gathered a large list of partners and investments.
Their investments and (technical) partners include amongst others:
- @BuildWithCargo, a similar market place as
- @nonfungibles
- @AxieInfinity
- @TheSandboxGame, listed on @binance
- @avalancheavax
- @chainlink
- @MakerDAO

Not bad.
Read 15 tweets
16 Sep
My Chads! Some of you made a lot of money the last months, let's make sure to not give it all back again. Below a few tips on how to survive this market. Shout out to @loomdart @CryptoDonAlt @Bitdealer_ @BullishKid @cubantobacco @Glimmerycoin for sauce market content.
First off, the most important thing to understand is that crypto is a trending market. shoots his ass up from 4.000$ in March 2019 to 14.000$ in July 2019. It dumps from 10.000$ to 3.700$ in a month in March 2020. Only for it to go up again to 12.000$ in the next 6 months.
But that's not all. The relationship between and alts is also very cyclical. The major indicator for this relation is ETHBTC. If is strong when dumps or pumps, there's a good probability the overall altcoin market is strong. So, how was this relation so far?
Read 11 tweets
13 Sep
Chads, here a cheatsheet for (Linear Protocol) google form questions:

LA Cross-Chain Compatible, Decentralized Delta-One Asset Protocol. Create, manage, and trade exposures seamlessly. Debt pool are able to “build” Linear USD (ℓUSD). Synthetic assets (Linear Liquids).
500 USDT/USDC
47,222,222 LINA tokens sold in public sale

Round 1 : 25,000,000 , 100,000, 0.00400
Round 2: 22,222,222, 100,000, 0.00450

400 registrations
200 per round.
token: LINA

Token Ticker:
Total Initial Supply TGE: 10,000,000,000
Initial Liquid Tokens: 257,666,666
- LINA tokens are the base collateral to create Liquids using Buildr. 80/20 ratio.
- Synthetic assets are called Liquids
- Use Buildr to build LUSD

Inverse Liquids formulas:
Movement = Current Price - Reference Price
Inverse Liquid Price = Reference price - Movement
Read 6 tweets
9 Sep
Chads, real talk here. You are not 'early' in Bitcoin. At most, it will do a x10 from here.

However, DEFI is the first real use case for crypto since the creation of Bitcoin. And you are ACTUALLY early. Positioning yourself correctly here could change your life forever.

Tips:
Don't fight the trend. Follow it. The current DEFI Chads such as $YFI, $LEND, $SNX and $NXM will be here to stay. Allocate at least part of your portfolio to the current Chads.
Upcoming Chads such as $UNN, $HGT, other upcoming Chads where the real x100's are made, should also be part of your portfolio.
Read 7 tweets
4 Sep
So. Bull market over? Stop it Virgin. We just getting started.

We broke a long range. If weekly closes below 10k usd, I expect more downside. BTC tends to trend hard after a long range. Punishing dip buyers. And then reverse when everyone is too scared to buy. So, what now?
Glad you asked Chad. We stick to our game plan. Defi hype isnt over and there is plenty of opportunities out there. Uniswap / Sushiswap had its degen season, let's look elsewhere.

and @justinsuntron have been doing great attracting new people. Expect more upside here.
You think @cz_binance will just let @justinsuntron take all the sunshine? (Haha. . .). Hell no. Binance Smart Chain will have their own Uniswap soon, and he's gonna pump that to attract new traders.
Read 4 tweets

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