Sers, what a strange, wicked, beautiful journey crypto can take us mortals on

It appears we'll soon have a tradeable $DEGEN token

It will = a basket of 10 of the fastest-growing, most promising small cap tokens in crypto

& it will run on $NDX

More 👇

$DEGEN will be a community-driven index of small cap tokens journeying from obscurity to blue chip-dom

It will make it easy for everyone to be a degen without having to put in degen hrs and have a degen history of f’ing around in this space for years

You'll simply have to buy $DEGEN to get exposure to 10 fire-breathing small cap tokens

When I first posted about $DEGEN 10 in December, I thought it'd be a fun way to track the market

It quickly morphed into a brain dump of knowledge from many of crypto's giga-brains

Based on the vote count, I threw together a Top 10 list of tokens for 2021

Many chimed in and said they wanted a tradeable $DEGEN token

@0xbay stepped up and launched a Discord around the idea

Soon, we were doing calls w/ many of the best teams in the crypto industry who are working on crypto index products

Brilliant people w brill minds everywhere

The whole experience made me realize how these index products will change the industry


No launch date yet

$DEGEN still needs to make it through governance

But it looks like it will

Fate is on our side

The index will be different than the original DEGEN10. We made it even more $DEGEN by setting a $2 billion upper limit for the size of tokens that make it into the basket

So we cut out the giant caps and and bumped up the smaller caps from the alternate list

That ensures $DEGEN won't mirror all the other defi indices out there, and it means we'll be able to catch projects during their periods of fastest growth

I'll do another thread on the index components and how it will work, but here's the core vision:

$DEGEN will be a truly community driven index that anyone can influence by participating in governance at Indexed

I didn't make these picks... all of the badass degens who weighed in on the original $DEGEN thread did

That means $DEGEN is harnessing the wisdom of crowds

I couldn't be happier w Indexed $NDX @ndxfi as a home for the project for sev reasons. Here are but a few:

1) It's a grass-f'ing-roots, no-VC, community-driven project

2) Funding from the indominable Molly Wintermute @mollyandalpha at $HEGIC
3) Brilliant founders including @d1ll0nk who has written his own EVM among other things

4) Incredible community from day 1 with lots of leadership from @litocoen who spends his free time building out @cryptotesters and holding free workshops to onboard normies into defi

I fell in love w $NDX from day 1 + was farming it before anyone had even tossed it out as an option for $DEGEN (+ before I'd even thought of it as a potential platform)

Holding $DEGEN should be perfect for newborn apes w/ medium risk appetites (not yet the full bananas type of apes)

Longing $DEGEN = a good chance to catch the top performing tokens before they end up in massive defi blue chip indices

$DEGEN is obviously not risk-free


But when it finally goes live, you know I'm a true degen and shall long the hell out of it

🙏 to @0xbay, @litocoen, @d1ll0nk, Pr0 and everyone who has joined the journey in the $DEGEN Discord & on CT

Valhalla awaits, sers

🤡 out
Follow Indexed @ndxfi

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More from @redphonecrypto

20 Jan
One 🤡s reactions to the $YFI

1st thought: That's $220 million+... jfc

2nd thought: Well, maybe they'll get rid of the mint

3rd thought: They're not getting rid of the mint

More 👇
4th thought: They're adversarial AF to investors who are holding something w hardly any cashflow

5th thought: What's to stop them from coming back to mint another quarter billie?

6th thought: I'd rather own token x at this point
8th thought: Don't you do that, $YFI... don't you compare yourself to other projects. You can't. You're different. You play a different game than all the rest

9th thought: Wow. I think about crypto too much to be feeling this emotional
Read 13 tweets
15 Jan
A lot of people bitch about whales, but small traders have advantages, too

1 = Time

You can use it like a shank and stick it in the sides of the less patient and/or more active traders by holding long-term

2 = Ability to enter tiny projects

More 👇
It simply isn't worth a whale's time to look at low MC projects (say anything less than $10-$50 million)

There usually isn't enough liquidity there...

If you're holding $10m, putting $10k into a high-risk investment doesn't move the needle much
Sweet spot = entering a tiny project that's here for the long-term

I visualize projects as moving through plateaus. You can ride that climb

Plateau 1 = the true degen traders who buy tiny presales and do a lot of Uniswap flipping
Read 7 tweets
12 Jan
🤡 musings (not f'ing advice) on defi + adoption + #s

1/ It's January, and a single country (the U.S.) is already floating the idea of a $3t stimulus package

2/ Defi has done about a 27x in TVL over the past year to hit $22b lol

More 👇
2.5/ If the defi trend continues over the next year, we'd be approaching $600b in TVL

3/ Sound big? Consider that there's $18t earning negative yields atm ($600b is just 3.5% of that #)…
4/ Let us be reasonable bulls and say $BTC and $ETH triple this year That alone would take the crypto industry to $2.5t

5/ If the industry hits $2.5t and 20% of that finds its way into DeFi, we're at $500 billion TVL
Read 8 tweets
3 Jan
Sers, the results are in

May I present to you the official $DEGEN10

These are the Top 10 tokens (excluding $BTC and $ETH) that many of the most diehard crypto OGs think will dominate in 2021...

More 👇

The 2021 $DEGEN10

$SNX (102) @synthetix_io
$AAVE (79) @AaveAave
$SUSHI (76) @SushiSwap
$RUNE (71) @thorchain_org
$YFI (71) @iearnfinance
$LINK (50) @chainlink
$DOT (41) @Polkadot
$UNI (39) @UniswapProtocol
$GRT (35) @graphprotocol
$SYN (35) @SynLevdefi

👆 (parens = # of votes)

I'll track the performance of the $DEGEN10 vs. $BTC, $ETH and $USD regularly

142 entrants in total

Current plan = track the performance of the contributors' individual picks to see which degens rule them all at year end...

Read 11 tweets
1 Jan
legends were born this year, sers

and legends extinguished

and i was here with you to see it all

10k followers in 7 months. Mineself is honored and astounded

mineself once was lost

but now i see

the walls around the halls of power look so very thick and mighty

but they are made of cake

and we have shown up hungry

a single tongue fills many mouths

it speaketh the freest language the world hath ever known

words come out in code

1s and 0s disturb the iron claw

from Dalian to Memphis... La Plata to Tallinn

we do not let the $$ lead us astray

for we are only partway there

after 12 years of building, the true fun begins

this year, sers we fucking take it to the people

we reach a hand into the future and pull ourselves forward by a generation

we change the order

Read 6 tweets
31 Dec 20
Lo, sers, I have been down in the crypto valley and stood upon the rapturous peaks

Down low, I exited two trades too early over the past 18 months. Both could have turned a few thousand $$$ into 7 figures had I pegged the top

More 👇
I could focus on those and turn into a bitter biotch who over-trades and checks the charts every few minutes, but i’ve made plenty... enough even to give some $$ to my local homeless shelter this year

If I'm honest, when I think about “trading” cryptos, I sometimes feel perverse
I’m thinking gains while the very ground is trembling beneath our feet. I’m just happy sers to be alive and aware of what’s happening right now

We live in the land of plenty, and the playing field hath been leveled
Read 7 tweets

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