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Ash Profile picture
@ahboyash
Aug 19, 2021 • 8 tweets • 4 min read • Read on X
Scrolly
1/ But ser how do I port funds over to @avalancheavax and enjoy the yields??
2/ Option 1: Using Avax Wallet + @binance + @MetaMask.

Create an Avax wallet and take note of the X chain address. Binance only supports withdrawals to the X chain.

wallet.avax.network
3/ Buy AVAX on Binance and withdraw them to your Avax wallet using the X chain.

Once the withdrawal is complete, in the Avax wallet, select ‘Cross Chain’ from the menu to transfer it to the C chain (EVM compatible).
4/ Once done, select ‘Send’, and make sure that the source chain is set to the C chain. Paste your Metamask address to withdraw.
5/ Option 2: use the Avax Bridge (AB) to transfer funds from Ethereum > Avalanche.

Firstly, add the Avax network to your Metamask RPC network.

Staying on the Ethereum network, navigate to the bridge and connect your wallet: bridge.avax.network
6/ Choose the funds that you want to transfer over and wait for confirmations on both Ethereum and Avalanche.
7/ The tokens bridged should have the ‘.e’ after their symbol indicating it has been wrapped on the Avalanche chain.
8/ @Darrenlautf has some useful reading materials for more information.

⬇️

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More from @ahboyash

Ash Profile picture
May 25
1/ With over $700m in TVL, @sanctumso is poised to capture a large share of the @solana liquid staking token (LST) market share by building a unified liquidity layer.

They envision a future where all staked $SOL can be used across Solana dApps - solving the liquidity fragmentation problem.

In this thread, I cover:
• History and problems of staking, introduction of liquid staking tokens (LST)
• Sanctum’s products (LSTs, stake accounts, reserve pool, trade router and Infinity)
• How to get started + Wonderland campaign
• Personal thoughts with relevant data

Join me in LST Wonderland 🧵Image
2/ TLDR of Staking + LSTs
(a) History
• Solana is a proof-of-stake (PoS) network where $SOL is staked to participate in the consensus of the network (block validation).
• The higher the amount is staked = the more secure the chain is. In return for staking, users get rewarded in more $SOL tokens.
• How to natively stake $SOL: Use @phantom to stake —> Phantom creates a stake account —> this account will be delegated to the validator of choice —> receive rewards.

(b) Problem
• Holding just plain $SOL alone causes users to lose out to inflation (rewards go to the stakers).
• However, staking $SOL with validators = capital opportunity cost as the staked $SOL cannot be used in other dApps (i.e. unable to generate yield on the staked $SOL).

(c) Solana LSTs
• In 2020, Lido was created on Ethereum which revolutionised the staking ecosystem. Users could now stake with Lido and receive a LST (stETH) which represents their staked ETH on a 1:1 ratio. The liquid stETH could now be used across multiple DeFi dApps and earn yield.
• Probably the best PMF crypto product, the model was replicated on Solana. Solana liquid staking protocols like @jito_sol and @MarinadeFinance have over $1.7 and $1.4b TVL respectively.
• How an LST on Solana is issued: Deposit $SOL into a LST pool —> stake account is created for the user which will be delegated to a group of validators —> user receives the staked $SOL that is liquid and can be used in other dApps + validator rewards.
• The total market cap of staked $SOL is $69b, while the total market cap for Solana LST is only $4b (6% liquid staking ratio) —> increasing the amount of LSTs will therefore unlock huge liquidity on-chain.

(d) Validator LSTs
• Liquid version of a stake account —> $SOL that is deposited into the validator LST pool creates a stake account that is delegated —> the staker receives the validator LST which represents their stake with the validator.
• Sanctum lets validators create their own LST where the staking revenue can be shared with holders.

But alas, tons of liquid staking protocols with different LSTs & liquidity pools lead to liquidity fragmentation - this is where Sanctum comes in.Image
3/ Sanctum Product Offering
Sanctum is a platform that allow validators to create their own LST (infinite number of LSTs) and they act as the unified liquidity layer. This helps to deepen liquidity for LSTs and consists of 3 working parts: Infinity, router and a reserve pool.

(a) Infinity
• Sanctum’s flagship product: a giant pool containing all types of LSTs (multi-LST pool) to ensure users can easily swap LSTs between each other. A close analogy is in the form of @CurveFinance's 3pool (DAI-USDC-USDT).
• Users can deposit any types of LST or $SOL into Infinity to get $INF, an LST which is yield bearing and can be used across multiple DeFi dApps (such as @KaminoFinance, @solendprotocol, @MeteoraAG, @ArmadaFi, @orca_so and @RaydiumProtocol).
• Why deposit? —> $INF earns the average staking return of all LSTs in Infinity + trading swap fees.

(b) Router
• This part explains how swaps between LSTs are carried out.
• As we have previously mentioned, LST is a liquid version of a stake account. But problems arise if liquidity pools for LSTs on DEXes are too thin which causes high slippage.
• Instead of swapping LSTs for one another in liquidity pools, Sanctum’s router uses the stake account and convert it to liquid wrappers.
• ELI5: the router just shifts your stake account from one LST provider to another —> liquidity is now no longer an issue for LSTs (especially new and smaller ones) since a liquidity pool for 2 LSTs (to facilitate trade) is not needed anymore.

(c) Reserve Pool
• This pool allows LST holders to insantly convert their LST back to $SOL pool is available for any LSTs on Solana.
• If a user swaps staked $SOL for $SOL, on the backend the pool will unstake the staked $SOL to replenish its reserve.
• It also serves as an important backstop for emergency unstaking.
• Instantly unstake here: unstake.sanctum.so/en/Image
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Read 8 tweets
Ash Profile picture
May 18
1/ “Hope is a Fantom that makes a man run a long way."

In comes the spooky revival arc for @fantom with the Sonic-fication of its chain + new token migration into $S.

We discuss the Sonic upgrades + parallelized virtual machine + how to position yourself and get ready 🧵 Image
2/ Introduction
Fantom is a layer-1 blockchain platform aiming to address the limitations of scalability and transaction
costs faced by established networks like Ethereum.

Launched in December 2019, Fantom positions itself as a high-speed, low-cost alternative for developers building dApps and users seeking to interact with DeFi protocols.
3/ Sonic Network Reveal

Just yesterday, @FantomFDN revealed more details about the Sonic network.

In short:
• New layer 1 blockchain (Sonic Network) with a significant performance improvement + layer 2 bridge to Ethereum (unlock more liquidity)
• Parallelised EVM (Sei + Monad hype)
• New native token ($S) where people will have the option to migrate $FTM at a 1:1 convertion ratio (bridge for bi-directional swaps available)
• At least $100m $FTM earmarked by Fantom Foundation for ecosystem development
• Airdrop campign (farmers wya)

The above is subjected to a governance vote: forum.fantom.network/t/the-new-fron…Image
Read 14 tweets
Ash Profile picture
Apr 25
1/ Crpto natives mention the term "multisig" a lot, but most don't realize the true behemoth powering all the multisig infra is @safe.

Sharing some thoughts on why we at @Signum_Capital decided to back this protocol that secures more assets than @RobinhoodApp. Image
2/ Intro
Safe is both the most secure smart contract wallet infra and platform (Safe WALLET) + account abstraction leader (Safe CORE) on Ethereum and the entire EVM space.

It is trusted by some of the largest projects in crypto such as @1inch, @aave and @chainlink + running on 14 networks including Ethereum, @base, @arbitrum and @0xPolygon ().

We view Safe to be an integral foundation for the entire ecosystem due to the gargantuan value they secure.docs.safe.global/home/4337-supp…Image
3/
 a) Safe WALLET (Smart Contract Wallet)
Safe is an omega critical infrastructure for crypto users and developers, as it safeguards digital assets for projects/DAOs, institutions, individuals.

As of April 2024, the following stats show strong traction for Safe:
• Over 8m Safes created.
• Manages over $103B worth of assets.
• Conducted over 48m total transactions.

See the stats for yourself here:

Safe’s PMF cannot be denied as the stats show strong smart contract account adoption.

Safe’s Wallet ensures:
• Top grade security and audited contracts.
• Wallets controlled by many private keys (multi-sig).
• Decentralised co-ownership of assets.
• Self custodial wallets.
• Mobile access, Safe wallet is available on both the App Store and Google Play.dune.com/safeImage
Read 11 tweets
Ash Profile picture
Jan 20
1/ @MetisDAO has grown considerably since I covered it way back in 2021. From just being a "Vitalik mother" coin, it has slowly made its way into a top 5 L2 contender.

The token had an incredible past 3 months with a ~10x surge in price since October due to a slew of narratives which led to an increase mindshare on the ecosystem.

This thread aims to outline the different narratives for Metis as well as dApp growth both on the DeFi and consumer apps side.
2/ Pampementals
• $400m ecosystem development fund at current price ()
• First L2 with decentralized sequencer ()
• Speculation on a potential Binance/ UpBit listing
• @nuvosphere inscriptions causing a spike in transactions
• And of course, Vitalik mom koinmetis.io/blog/metis-edf…
metis.io/blog/community…Image
Image
3/ Metis ecosystem
Metis has a plethora of dApps ranging from DeFi, gaming and NFT marketplaces.

Chads like @2lambro, @CryptMoose_, @crypthoem already covered the basics of Metis in their threads. In this thread we take a deeper dive into the three verticals below:
• DeFi
• Gaming/social
• NFTs + inscriptionsImage
Read 11 tweets
Ash Profile picture
Dec 5, 2023
1/ Mega compilation of Bitcoin ecosystem resources.

Helpful for anyone needing to get up to speed with the latests developments especially pertaining to Ordinals and BRC-20. Image
2/ Bitcoin ecosystem thesis
•
•
•
•
• medium.com/neworderdao/ma…
portal.vc/bitcoin
standardcrypto.vc/thoughts/bitco…
outlierventures.io/article/bitcoi…
medium.com/ybbcapital/dig…
2/
•
•
•
•
• medium.com/@willfangcc27/…
galaxy.com/insights/resea…
taprootwizards.com/manifesto
lnmarkets.substack.com
ark-invest.com/big-ideas-2023…
Read 24 tweets
Ash Profile picture
Aug 21, 2023
1/ The opportunity cost of being away from the screen gets higher as more chains and dApps launch.

Crypto ETFs + Bitcoin halving are some pumpemental narratives for a bull market resumption.

It is imperative to establish your foundations to quickly ape into new ponzis:
2/
a) Getting started
• Leave capital/ dust money on different chains in case you need to bridge over to ape a new project/ shitcoin
• Bookmark faucet websites to get gas on new chains ( and are good examples)gas.zip
stakely.io/faucet
3/

• Install all types of wallets (for different chains) in your Chrome extension and have dust money on it
• Have a hot wallet on your phone in case you are AFK and need to ape something quickly
• Automating it through @TeamUnibot or @lootbot_xyz can be quite beneficial too
Read 9 tweets

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