Then fund your wallet with a little bit off $sol, for gas, and some usdc from your exchange account like FTX, if your exchange doesn’t allow withdrawals of usdc to solana directly you can buy sol and swap on @RaydiumProtocol
There are lots of great platforms to use on Solana. Since we mentioned @RaydiumProtocol start there and make a swap using that decentralised exchange. Swap some sol for usdc
By the way, keep this all low stress just put in like 100 bucks to play with to your phantom wallet.
Next let’s start making our money work for us.
@MercurialFi is a stable swap protocol allowing you to swap between different dollar coins.
Put $10 usdc into their ust3 pool. Currently paying 26% in both the mer token and wLUNA. Rewards paid daily.
Next let’s put $10 bucks in @port_finance, this is a borrowing and lending platform like aave.
Supply usdc and you will earn usdc fees 4.5% from borrowers and earn 21% in port as an added incentive.
Bonus you can lend your farmed mer tokens for high yields too
Next is a more degenerate play.
Put $10 into @Saber_HQ via their ust usdc pool. This will give you a liquidity provider token. Take that token to @SunnyAggregator and deposit it into the saber ustusdc pool to earn 230% paid in saber and sunny. Note high risk.
And just for fun you can go to @SolanartNFT and grab an nft on the cheap!
Most of this stuff is pretty straight forward. Just connect your wallet to the site and deposit funds. So go and try it out!
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I remain very bullish on the Polka $dot $ksm ecosystem.
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So let's talk about parachains.
Kusama has successfully had their first parachain auctions and are now on round two of parachain auctions.
The first 5 parachains resulted in 10% of the supply getting bonded! WOWSERS!!!
The star of round one was Moon River. Even if you had bought the top on KSM you would be up 10X on $movr, most who backed them are up 20 to 100X or more. And the real kicker with parachain auctions.... you get your KSM back at the end! This is solid proof Dotsama is a money maker
Oh and I should note that Solana also has a token burning mechanism which burns a percent of the transaction fees. This is good for long term tokenomics.
This chart from Ben Cowen also shows this concept. Either this was shortest lowest ROI cycle ever, or we are heading for our double bubble with a cycle end in early 2022.
Trading your fiat for BTC is exchanging bad money for good. Bitcoin is Gold 2.0 and has essentially become the reserve asset of the crypto markets.
I personally use it as a gold like asset in my crypto portfolio.
DCA into Bitcoin is a great way to get exposure to BTC. Dollars will 100% fall in value. Your BTC will continue to rise versus fiat over time. It is an inflation hedge, store of value, and still in price discovery