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30 Apr, 5 tweets, 3 min read
One month ago I tweeted about the emergence of strong $OHM community. Since then circ. MC more than doubled (3x at the top) but price has been almost steadily increasing and haven't yet stress-tested the (3,3) meme. Will $OHM stakers prove their diamond hands now?
Although Coingecko reports a massive 57% decrease in price in last 24 hours which could suggest a sudden exodus, it's not a correct figure. There were some issues with incorrect price feed from Sushi which apparently haven't yet been fully fixed.
The correct 24h price decrease atm is 37%. Still substantial enough to draw attention. Of course, price is expected to go down because circulating supply gets bigger and bigger every day but sudden movements are always moments of truth. Let's check some on-chain metrics for $OHM.
- Protocol owns 82% of total liquidity!
- There are almost 3.5k OHMies and this number grows steadily.
- Protocol has collected enough $OHM to distribute to stakers for next 183 days at 50k% APY.
- 87% of supply is staked - (3,3) meme.

More: duneanalytics.com/shadow/Olympus…
On-chain data looks healthy but price action is worrisome. This may be the first time when $OHM stakers can really prove if they represent a community of true believers or they had strong hands only because number went up.

Dear $OHM community, (3,3)?

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More from @korpi87

korpi Profile picture
2 May
I have no idea what $TRU is but its daily Volume / Liquidity ratio on Uniswap is at 37, which means 11% daily profit for LPs just from trading fees. Apparently $TRU can be bought cheaper on a bonding curve outside of Uni and is arbed heavily on Uni leading to such a crazy volume. Image
At current V/L ratio, LPs are in profit unless $TRU outperforms $ETH more than 170% in a single day which equates to impermanent loss of 11%. Price is dictated by the bonding curve and I don't know its shape but judging by current price action I bet it's a very low probability.
So if you hold $TRU and want to earn extra money, use the current opportunity of low gas prices and add liquidity to Uniswap. I'd do it but I'm a bit afraid to ape into $TRU after such price increase without knowing what it is and I'm too tired to look into it now.
Read 4 tweets
korpi Profile picture
24 Apr
I wrote a short thread on $NXM / $WNXM yesterday, planned to post it today but $WNXM price increased substantially and it's not valid anymore. I'll post it anyhow because this opportunity periodically comes and goes so it makes sense to keep an eye on it.

The original thread👇
I've already mentioned it a few times but it's free money so I will do it again. You can keep full exposure to $ETH price and get at least 35% extra by buying $WNXM now at 0.028 ETH and selling it when it goes back to 0.038 ETH (minimum).
@NexusMutual is the unquestioned leader in the decentralized insurance and I will probably have to write a long thread about them (spoiler: I will prove how massively undervalued the project is) but today I just want to mention a couple of facts.
Read 6 tweets
korpi Profile picture
21 Apr
70% APR on stablecoins with no impermanent loss, hardly any risk of liquidation and almost zero transaction fees. Sounds good, right? It's possible with leveraged farming of $MATIC rewards on $AAVE on Polygon. See how to do it👇
$COMP farming last year was probably the first time when DeFi users got paid for borrowing. Savvy farmers substantially increased their APRs by iterative lending and borrowing. The same can be done on $AAVE with transaction fees on Polygon so low that you can hardly feel them.
Iterative lending and borrowing works this way:
1. You have 1000 DAI and lend it on Aave.
2. You borrow 75% of your deposit, i.e. 750 DAI.
3. You lend borrowed 750 DAI on Aave.
4. You borrow 75% of your deposit, i.e. 562.50 DAI.
5. Repeat multiple times.
Read 8 tweets
korpi Profile picture
17 Apr
@n2ckchong's great educational thread on Aave inspired me to write a #CryptoTwitterManual. This is a useful guidebook to help all the new market participants navigate the Crypto Twitter (CT) minefield and avoid getting rekt by fomo.
The #CryptoTwitterManual consists of the real tweets I captured from many CT influencers with the explanation what they really could have meant. Don't be under a delusion that influencers publicly share alpha for the benefit of their followers. Most of them don't.
Not all CT influencers are mindless shillers though. Some really do care for their followers and try to educate them, not only force them to buy shilled bags. Be mindful of this fact, learn from others but not necessarily immediately buy what they shill.
Read 14 tweets
korpi Profile picture
15 Apr
1) @iearnfinance TVL crossed $3B. This is a big milestone. It grounds Yearn's 1st place in the competition between yield aggregators - amazing achievement taking into account that it's the only protocol which doesn't incentivize TVL by issuance of its native token $YFI.
2) With hindsight, I think that distribution of total $YFI supply in a single farming event last summer was a big hurdle for the development of the protocol. How can you compete with others who fork your code and add token issuance on top of it to increase APY for users?
3) Yet, this lack of $YFI inflation led @iearnfinance to the place where they are today. They had to be creative to offer competitive returns for depositors. Let's summarize what they did.
Read 12 tweets
korpi Profile picture
11 Apr
Let me ELI5 what happened here so that everyone could admire the power of @iearnfinance v2 vaults.
$YFI
1) Yesterday a new farm appeared on Ethereum: app.thisistheway.finance. It doesn't even matter what it is. The most important fact is that it rewards farmers with a token $BAG for staking $ETH, $WBTC, $USDC or $DAI. So it's passive earning opportunity.
2) "But sir, it's a new farm, it must be risky!" Is it? The farming contract is a slightly modified version of MasterChef - a well known and battle-tested contract on Ethereum. The only change is that it applies an exit fee on your stake if you leave early.
Read 14 tweets

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