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8 Aug, 7 tweets, 4 min read
In markets like this, it’s often very easy to forget just how far things have come within the span of a few years

This ecosystem is not the same as it was even 6 months ago

Let’s take a look at a few examples to prove my point… 🥐
$UNI

Uniswap invented the automated market maker for a decentralized exchange of $ETH tokens way back in Nov 2018

At the beginning of last year it’s daily average volume was $1.5M, quite the difference from today’s $1B+ 👀

By the start of 2021, it had ~600k users (2.5M today)
$SUSHI

$SUSHI influenced the entire DeFi market with its way of distributing tokens to LPs

It launched on August 28th, 2020 and quickly attracted hundreds of millions in liquidity

24K -> 211k users this year

What started off a fork, is now a leader and innovator in the space
$AAVE

Originally named $LEND, $AAVE is a DeFi lending protocol that started in 2017 & has grown to have billions locked in their contracts

$AAVE even attracted attention from institutional investors & plans to build out a permissioned pool for them

68k+ users
$22B TVL
$YFI

Invented by Andre Cronje in Feb 2020, this DeFi protocol quickly took off to insane levels for its method of yield farming & fair launch

It launched with zero supply & zero value, allowing users to earn tokens by depositing into specific pools

31K+ users today
$3.5B TVL
$USDC

Started by Circle, $USDC is a stable coin on Ethereum which has grown astronomically since the beginning of the year

It was recently announced that VISA will accept $USDC for tx settlement soon

What was just a $4B mcap in January 1st, 2021 is now over $27B mcap
Anyways, I hope you all enjoyed this short thread…

But it’s clear to me this industry is growing exponentially and only just getting started re-inventing the way we transact with money 🥐

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More from @CroissantEth

croissant Profile picture
6 Aug
Did you know…

World of Warcraft had over 12M users at its peak?

It actually became so popular that the gold used in the game became worth real money

Users all across the globe started to “farm gold,” growing it to a $900M+ industry while employing millions of players
Another fun fact:

Gold farming actually became so popular that it was banned in China (ironically)

Because of this, the developers of the game were then even forced to make changes to game mechanisms to make the virtual currency less valuable
What’s my point?

Gaming + the blockchain go hand in hand.

It is only when combined with a decentralized network, programmable smart contracts, and creator economies that I believe gaming will start to unveil its full potential 🥐
Read 4 tweets
croissant Profile picture
5 Aug
I have seen a countless number of people underestimating the effects of EIP-1559 and it’s changes to the network

However, I am here to argue that it has the ability to fundamentally transform the view of $ETH as an asset class

Let’s take a deeper look… 🥐
In order to fully understand how EIP-1559 works, we have to first take a brief look at the current tx fee model today

Transactions work in what is known as a “first price auction.”

Because $ETH miners are scanning the network for the most profitable transactions…
it is usually the highest bidder (i.e a high volume trader on a DEX) who gets their transaction included in the block

Whenever a highly anticipated token or #NFT releases, this problem becomes magnified leaving many users out of the next block because of the sudden gas fee spike
Read 14 tweets
croissant Profile picture
28 Jul
“Meme coins” have been blowing up, however they make up very little of reality

I thought it’d be nice to go over a brief list of cool applications and things that are ACTUALLY being built on $ETH

All of these are breaking into trillion dollar industries… 🥐
Reddit

The 10th most popular social network in the U.S. uses “community points” on $ETH to reward users who provide quality posts or comments

They have already started three projects using $ETH, with more said to be in the pipeline

There are over 1.7B visits to Reddit a month
AP Elections

A collaboration between Everipedia & Associated Press allowed for an immutable database over the 2020 election

With help from $LINK oracles, more than 7,000 state and National election race calls were recorded on $ETH

This was the first of its kind
Read 23 tweets
croissant Profile picture
23 Jul
FUD is not good. FUD is bad. Don’t spread FUD.

This write up will be dedicated for debunking common FUD in crypto I see all too often.

A thread by 🥐…
“Bitcoin wastes energy”

People often say $BTC uses as much energy as countries

But did you know Christmas lights in the US use about as much energy as El Salvador & Ethiopia combined?

Furthermore, $BTC actually has mechanisms to promote green energy as a buyer of last resort
“EIP-1559 won’t lower fees”

EIP-1559 makes several changes to the ways tx fees work, introducing a “base fee” + “miner tip”

Base fee = 🔥
Miner tip = 🪙

The base fee will be set by the protocol, allowing wallets to set it automatically

(which means no more spamming 200 gwei)
Read 25 tweets
croissant Profile picture
19 Jul
On July 21st, 2021 several notable individuals are meeting to speak to institutions about #Bitcoin

In this short thread I will go over why this may have some very large implications… 🥐
The first thing I will point out here are the very interesting connections between the three business leaders attending this “₿ Word” event that I (coincidentally?) mentioned in a thread a few weeks back

I highly recommend you read it to understand the rest of this thread fully
It really seems like there may be something bigger going on behind the scenes

Square & Ark Invest actually wrote a research paper which mentions how #Bitcoin mining can promote the use of solar energy (which Elon Musk agrees with)

But… how exactly would this work?
Read 8 tweets
croissant Profile picture
18 Jul
Upcoming catalysts for $ETH within the next year (in no chronological order)

A thread by 🥐
NFTs

Currently, NFTs are reminiscent of the early stages of DeFi

There are thousands of devs & even many large companies building NFT platforms

We haven’t even scratched the surface of what can be made

Nvidia, GameStop, & Twitter have discussed intentions to use them soon
EIP-1559

This EIP is arguably one of the biggest ever. More than 2.9M $ETH would have been burnt this year had it been live

It will change how txs work, at an aim make gas fees more predictable and stable

The massive UX upgrade will turn $ETH into a deflationary asset🔥
Read 25 tweets

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