Timo Profile picture
Sep 19, 2020 14 tweets 4 min read Read on X
1/14 Since many people have forgotten about @DMMDAO, quick reminder and my thoughts/reason I'm bullish on it:
DeFi right now is still only focused on crypto-native assets. We have lending/borrowing, liquididity providing and margin trading only mainly of crypto-assets.
2/14 hile a handful of these Defi projects are innovative/have substance, a lot of them are quite simple copies of the same concept and we are still limiting the space by not opening up to traditional finance, it's liquidity and assets. A handful of DeFi projects simply only have
3/14 value because of an euphoria rush created by the leading DeFi's, but have severly inflated marketcaps due to governance tokens on promised and projected potential revenue streams. A slight pullback of that demand brings APY's and marketcaps back down rather quickly
4/14 While a good amount of the *total value locked* in defi is "real", most of it is stacked and inflated by cross-farming setups aka tokens wrapped and stacked from protocol to other protocols. The number of real, liquid capital of this TVL metric is way further down than 8bn
5/14 #DMMDAO is a project focusing on bringing "real" traditional liquidity and assets accessible to #DeFi. It's an ambitious goal but since #Chainlink went to mainnet and #PSD2 becoming a thing, a transparent and decentralized way of doing so can become reality rather quickly
6/14 They have been working on bringing car equity loans into a DAO-managed protocol onchain, making it possible for crypto investors to tap into this high-yield business basically with a simple click. Car equity loans bring an APY of 10-15%.
7/14 This is a real, tangible and stable revenue from one of the most liquid asset classes. While it can't keep up with the absurd high and unstable APY from recent yield farming campaigns, one has to consider the risk-level here in comparison. The high APY in yield farming
8/14 has been starting to become a thing just a few weeks ago. The profits are highly unstable and risky, because of the nature of the stacked-setups to gain these yields. People have to use and trust a handful of different, cutting edge experimental protocols, half of them made
9/14 by unknown and anon newcomer devs. A single flaw in one of the tokens used within or a single flaw within the design of these protocols can result in a total loss of funds. Yield farming rewards are simply put, yield for the highest risk averse people in the space
10/14 Revenue in money markets on the other hand is a few magnitues lower risk. #DMM #DMG introduced a model for tokenizing assets from the traditional money market while keeping the nature of crypto, trustlessness/transparency/composability/permissionless on a high level
11/14 User can already today, deposit stablecoins or ETH into DMMs dApp and receive 6.25% returns that are stable and safe from stacking-risks, most smart contract exploits and anon-devs-exitscams. It may not be your usual 100% APY from yield farming, but it's surely something
12/14 that can make you sleep comfy at night and where you can be sure about the rate not dropping down to 1% within a week. It's nothing where a simple copy could take over 60% of the TVL within 24h.. nothing where a faulty audit results in 100% loss. I'm looking forward
13/14 to the DMM team bringing their project to the next level. A few next steps they've talked about include:

- Monitoring payments/revenue flow form equity loans to a bank account via Chainlink + PSD2
- Introduce a "Coinbase" for their yield protocol where you can deposit&earn
14/14 without touching or understanding any crypto. As simple as paying online with a credit card with a Coinbase-like UI
- Adding more asset types to their DMM pool

I'm bullish on #DMMDAO and $DMG longterm. Currently my biggest alt position next to LINK. Bought ICO and this dip

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More from @chainlinktimo

Jan 10, 2022
Chainlink is gaining marketshare like no other. LINK.d +46% in one week. LINK/BTC and LINK/ETH having three white soldiers on 3D with breakout on the weekly confirmed. LINK/USD next. No matter what you do, don't sell early. The season for LINK just started #LINK $LINK #Chainlink ImageImage
The buying pressure is coming from a clear change in tokenomics. Sergey just announced the release of staking in first half of 2022 and with that, Chainlink nodes and @linkpoolio can now capture the fees from the massive network of 1000s of feeds. Higher stake -> higher revenue
We are seeing three groups of buyers suddenly starting to step in and buy up LINK tokens: 1. node operators and staking services->to reserve a high % of the feed revenue which gets proportionally shared across nodes weighted by reputation (raised by stake amount).
Read 5 tweets
Dec 22, 2021
1 Unfortunately came to the realization that @cz_binance @binance is not a reliable exchange for keeping *some* funds for you anymore. They are holding my money hostage for +3 months now and every contact with them ends in a loop with no one actually checking my case or info sent
2 They suddenly locked my account from doing any kind of withdrawal. No crypto withdrawal and no transfer to funding wallet to use credit card. They have sent me a 'Source of wealth' letter, like to anyone else, months ago This was about some new compliance thing.
3 I get it. No problem till here. I filled out everything I could. Since I don't receive paychecks anymore for the past 3 years, I can't attach a file with my income that's no older than 3 months since I don't work like that anymore
Read 24 tweets
Aug 26, 2020
I can't take any project serious that launched on #Binance via IEO. It's a literal VC-profit-party disguised as serious competition and decentralized while the supply is heavily concentrated in the hands of CZ and friends. #SXP and #BAND being recent examples of this. Thread:
These projects always post a nice pie chart for the token distribution that looks well distributed but is just cut down into different segments that still mean the same party gets the tokens. 'Seed Investors', 'Early Partners', 'Ecosystem' is all actually concentrated to CZ&VCs
If you add these up you get 60-70% in the hands of 'someone', with a vesting schedule mostly below 3-6 months time. These tokens get added in reports like Binance Research or put into Indexes like the recent DeFi Index on Binance to pump them up for a few weeks on low volume
Read 8 tweets
Jul 15, 2020
#Chainlink #LINK $LINK has not been talked about enough imo. Not speaking about price but how it positioned itself so well and still such a big part of crypto-people don't see it, don't understand it and are not buying it (yet). Let me summarize a few thinks here
The OG marines made soo much money because they did understand something very unique very early on. Understanding this early takes one to have a great filter, knowledge of the crypto landscape and patience. The OGs did understand or see what actually made smart contracts
valuable or how they would look like in the proposed whitepapers of early layer one blockchains and early literature of different type of distributed ledger technology. You would have to understand the different types of decentralization that exist, not just PoW decentralization
Read 30 tweets
Jul 6, 2020
There is still a massive misconception I see regarding #Chainlink. Unpopular opinion (amongst non-marines) The #LINK token is AT LEAST as much 'oil' as #Ether is. The "customers" of $LINK are not defi users. It's all defi protocols consuming any kind of data
There are people saying Chainlink isn't growing. Chainlink doesn't have a big userbase. Chainlink network usage is dead. I am looking at Aave, Synthetix and co. and thinking "what the fuck r u talking about?" The total value locked and the userbase of all of these defi protocols
ARE Chainlink customers. THIS IS Chainlink usage. It is below all of these defi protocols when it comes to the pyramid. It is *more* foundation than anything else. When total value locked for $SNX and $LEND goes up x100 within the next 2 years then this is directly growing #LINK
Read 11 tweets
Apr 19, 2020
I did not expect #Maker to add #LINK as collateral, but I'm also not surprised. It makes a whole lot of sense that, after #ETH and #DAI, LINK is the very next coin they want to add as THE collateral for the biggest ETH #stablecoin system. Here is why:
As collateral, you wan't something that is safe in the long run, that is not volatile and based on far fetched / high speculative value. You wan't something with high liquidity and a bit 'cash flow'. Unlike most ERC20, #Chainlink is not fueling new/different blockchains that
compete with Ethereum on the smart contract marketshare (which it has over 95% already). Chainlink does not compete with the Stablecoins where Tether alone has about 90% marketshare. Chainlink is a new 'thing', a new 'category' and serves the purpose of
Read 9 tweets

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