🔥I had a great time today on @CoinDesk #investeth in a fireside with @zackseward!
👇I also mistakenly prepped slides days ago and so I might as well share these 7 core tenets I'm focusing on at the moment as a #DeFi market participant/investor.
⟠1⟠ Always be learning!
👇I also mistakenly prepped slides days ago and so I might as well share these 7 core tenets I'm focusing on at the moment as a #DeFi market participant/investor.
⟠1⟠ Always be learning!
⟠2⟠ Always be paranoid with your funds. Become master of cold storage, hardware wallets, and multisig wallets like @gnosisSafe and @argentHQ.
⟠3⟠ Track your #DeFi portfolio with @zapper_fi so you can review what's working and more importantly, what's not!
⟠4⟠ Look for ways to index the #DeFi markets! Picking winners and losers is hard. Make use of new DeFi index primitives like @defipulse Index by @tokensets and ETF-like exposure via @PieDAO_DeFi.
⟠5⟠ Know in advance how to exit any DeFi opportunity you enter! It sounds dumb but I cannot tell you how many have DM'ed me asking "why can I not Zap out of this?" when they have staked an LP token.
⟠6⟠ Minimize your gas costs and stop over-trading. There's plenty of research to show that trading more frequently does not correlate with success, but in DeFi, due to gas costs, it actually can eat up your profits.
Also learn to use @ETHGasStation + @etherscan Gas Tracker.
Also learn to use @ETHGasStation + @etherscan Gas Tracker.
⟠7⟠ Lastly, be open to changing your mind. DeFi reflects a lot about legacy finance but it also is not going to repeat the past in any predictable manner.
Be prepared to admit you are wrong at times and adjust your strategy accordingly.
Be prepared to admit you are wrong at times and adjust your strategy accordingly.
⟠FIN⟠ If you want to keep learning about #DeFi + #Ethereum:
1⃣Subscribe to tv.zapper.fi to watch @Yield_TV
2⃣Subscribe to defidad.com for in-depth DeFi tutorials
3⃣Join @zapper_fi Discord and Friday open forum community calls: discord.gg/Rf3YJ3V
1⃣Subscribe to tv.zapper.fi to watch @Yield_TV
2⃣Subscribe to defidad.com for in-depth DeFi tutorials
3⃣Join @zapper_fi Discord and Friday open forum community calls: discord.gg/Rf3YJ3V
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