With all the attention on @avalancheavax lately, here are some tips for those who are bridging their assets across for the first time.

Thread 👇
1/ As part of my work, I've played around with most cross-chain bridges that came live the past 6 months... and I had the best experience with @avalancheavax hands down.

It's extremely easy to send $ETH assets over to Avalanche with: bridge.avax.network
2/ Avalanche is EVM-compatible - you can easily use your @Metamask setup and bridge over in a few clicks.

Clever design choices:

- Shows live confs so you know what's going on
- Auto-wraps your ETH
- Airdrops you free $AVAX to pay for gas (!)

Whole process takes a few mins
3/ Tip: if you're bridging over chonky amounts of USDT (6-7 figs), swap $ETH -> $USDT first on a ETH dex, then bridge $USDT.

Don't do this: $ETH -> Avalanche -> swap to $USDT to save fees.

The USDT <> wETH liquidity is there, but it's not @Uniswap @SushiSwap level yet.
4/ So say you do end up using all the airdropped $AVAX for gas like a proper degen, you have 2 options:

a) Bridge more assets ($75+) to get airdrop $AVAX
b) Send $AVAX to your Avalanche wallet

Now, b) Is still a bit of a hassle
5/ Since Binance rugged $AVAX withdrawals, the "easiest" way is:

- Buy $AVAX on Binance
- Send that $AVAX to your Avalanche wallet
- Then send it to your Metamask "wallet" (more on this)

Never thought I'd say these words again, but I recommend using a Ledger here lol
6/ First, you need to download the @avalancheavax app on your Ledger manager.

Then head on over to wallet.avax.network and connect with the app on.
7/ To receive $AVAX tokens, you will need to select X-chain (the exchange-chain).

Once received, you will then need to send your assets to the C-chain (contract chain), after which you will be able to use them via Metamask.

Why this hassle?
8/ C-Chain is the EVM instance on Avalanche. To use Solidity dapps on Avalanche you need to have your assets held there.

i.e. C-Chain = go-ethereum fork where networking/consensus is swapped out for Avalanche stuff but the VM runs Solidity smart contracts.
9/ In general bridging has been issue-free, but the exchange -> wallet is a bit unintuitive at first, though the team has done a great job with docs here:

docs.avax.network/build/tutorial…

Disc: I hold a little $AVAX and some assorted dapp coins from my dive into the rabbit hole

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More from @mrjasonchoi

8 Sep
An update: here's what major L1 protocols look like if we use TVL as a proxy for usage
Few personal thoughts:

1/ $ETH: @arbitrum is slowing creeping up in volume, but I think the space is underestimating the impact of L2s on usage because of current fees, which will come down over time

@dydxprotocol token trading soon may draw attention to @StarkWareLtd too
2/ $AVAX: price has tumbled the most. >50% of the OI has been wiped, leverage pretty much reset.

Meanwhile, @binance re-enabled C-Chain withdrawals + @pangolindex liquidity mining (will @traderjoe_xyz follow or lose momentum?) + Rush + @CurveFinance @AaveAave are compelling.
Read 5 tweets
1 Aug
Starting a fund vs. being an angel investor

A thread 👇
0/ Many friends found success investing in crypto with their personal capital this year, and a few have asked me whether they should start a fund.

I'll share some learnings from the past 3 years helping scale a fund from square 1.
1/ ~3 years ago, @TheSpartanGroup launched its fund arm with $10m and 2 people.

Today we manage >$200m across two main funds (liquid + venture), with a 5 person investment team + additional support team.
Read 26 tweets
13 Jul
Is Uniswap the best model for decentralized exchanges?

Some notes from my discussion with @hosseeb & @GandalfTheBr0wn 👇
1/ There's a few dozen decentralized exchanges today.

Most of them can be grouped by how makers and takers interact. See below:
2/ In @Uniswap, liquidity providers and market makers are one and the same (less so with vaults on top of v3).

Those who provide capital are basically market makers who employ the same strategy: the simple but effective "x*y=k"
Read 9 tweets
5 Jul
Wanted to share my own investment process to document how I'm thinking now.

A thread, not advice of any kind 👇
1/ When it comes to liquidly traded cryptoassets, my investment strategy can be summed up as follows:
2/ First, some background:

When I first started investing in crypto, I focused on making thesis-driven bets with a multi-month to year time frame.

There wasn't any real process besides finding what seems like a good project and buying it.
Read 21 tweets
5 Jul
A lot of my threads are commentary on the latest projects and events in crypto.

Pinning this meta-thread to keep track of more "timeless" threads in case they're helpful to anyone.
Why "fully diluted valuation" is not a meme.

Taking advantage of illiquidity and mispricings.

Read 8 tweets
29 Jun
Will regulations end up killing DeFi?

A thread 👇
1/ As someone not based in US, keeping track of the alphabet soup of regulators (SEC, CFTC, IRS, FinCEN) can be daunting.

That's because unlike China, there's no comprehensive, unifying stance issued by one entity.

insights.deribit.com/market-researc…
2/ Over the past 12-24 months, individuals within different regulatory bodies in the US have offered various comments and draft regulations on DeFi.

Following is my rough summary of notable comments.
Read 8 tweets

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