No news update for today but I have an ape one🙊
Bought some $GRT here with my ENS (5 ETH - 50% of Fund)
Reason being:
Blow off top from 74c to 56c (~25% drop)
Previous Blow off top was from 59c to 38c (~35% drop)
Funding is still negative (but not as high as it was)
With 2.8 bln in 24hr trading Volume, personally feel there could be another run up but the r/r here isnt as great admittedly.
However, fundamentals for The Graph are strong which is highlighted by Private Chad's thread here
FDV doesn't matter at least until the large inflation hits in 6 months imo. I think everyone that wants to sell will have sold out comfortably and those that are getting in are aiming for the $1 and $LINK parity meme,
While the chart is still too early, $GRT has locked itself as a DeFi blue chip, and showing everyone new to the scene how big a successful ICO can be. Will write more about this later but for now, I aped and will buy dips for the entire 6 months🐵
Disclaimer : @TheSpartanGroup is an investor, and I am long $GRT. This is not financial advice.
We've since invested in all the projects mentioned on that tweet, with @MechanismCap even leading the seed investment round for Nansen. We want to support projects we use daily.
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It's crazy to think just how much crypto has changed my life and @Daryllautk 's too. We both got in 2017 with a tiny amount (<$50) because back then we were broke at with no source of income and just starting our degree in university
Looking back, there were plenty of signs for us to dive in:
- saw Bitcoin as payment on Steam when it was first added
- watched the Social Network movie when it first came out and thought the Winklevoss twins were cool af
- had a friend that was mining ETH in 2016 🤯
I guess the final sign was when I was interning at a local NGO and my boss at that time @mrstingy2014 started telling me about Bitcoin and how it could change the world. He wrote this cool article here: mr-stingy.com/love-affair-bi…
1/ $NXM has done a monster run up, this past month alone but why? Is it really just because people are starting to realise the demand for an Insurance product in DeFi or is there another reason why?
2/ Few understand this but, NXM’s token price doesn’t work like a normal coin, instead it works following a bonding curve:
3/ So from this formula you see that we need the MCR and the MCR%.
Think of it as:
MCR - Minimum Amount Nexus Mutual needs to operate
MCR% - Capital Pool Size over Minimum Capital Requirement
The y-pool on Curve has gone crazy again🤯 and it's because of $YFI (coingecko.com/en/coins/yearn…), which is the governance token of yearn.finance. Here's a guide on how to farm it!
There's 3 pools to farm $YFI:
yearn - needs y-curve tokens, gets $YFI
balancer - needs $YFI and DAI, gets $YFI and $BAL
Governance - needs $YFI and y-curve, gets $YFI, $BAL, $CRV
If you're like me and you just woke up to seeing 158.59% APY at the y pool on @CurveFinance, you're probably wondering how do i get some of that 💰💰💰
Here's a short guide (cause it's really that easy to use) 1. Go to curve.fi/iearn/deposit
OR to go here from curve.fi 1. Top Left, green navi bar -> y -> deposit 2. Scroll to the bottom to the line that says
"2.Y ....", click it then click deposit
2. Decide how much you want to deposit in (DAI, USDC, USDT, TUSD)
- if you don't wanna brain just choose use max amount of coins available 3. Infinite approval - save fees cause below
(Ignore the low DAI amount, yo boi here is broke cause of degen trading with @Daryllautk)