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Wangarian 🔺 Profile picture
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16 Sep, 4 tweets, 2 min read
1/ Couple of quick stats on the Avax ecosystem:

- TVL has just peaked ATH at $2.6b since the parabolic run-up when Avalanche Rush was announced
- TVL has increased ~10x since the announcement and continues to climb.
2/ Bridge inflows:

- Over the past 30 days, there's been $1.35b net inflows from the ETH bridge
- 20 of the 30 days have recorded net inflows
- Last 7 days have recorded inflows > outflows leading up to Avalanche Rush
3/ DEX flows:

- Trader Joe continues to remain the dominant DEX after surpassing Pangolin earlier this month.
- Trader Joe past 7D Volume: $1.1b
- Trader Joe TVL: $618m
- Pangolin past 7D Volume: $685m
- Pangolin TVL: $376m

analytics.traderjoexyz.com
info.pangolin.exchange/#/home
4/ Avalanche Rush:

- 10m AVAX tokens (~$600m) carved out for a multi-month incentive program
- Touted to go live in a week, with Aave / Curve / Sushi / Pangolin / Joe deployment offering AVAX incentives

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More from @0xWangarian

Wangarian 🔺 Profile picture
10 May
0/ Tokenomic Design Explorations

Since the inception of crypto-assets, tokenomics have been a fresh attempt at designing asset ownership instruments from first principles.

However, we're just scratching the surface. A thread on how tokenomics can develop in a xchain world
👇
1/ Recap

Currently, tokens are used primarily as a growth marketing tool. Via liquidity mining, protocols spend 'equity' in return for bootstrapping initial adoption.

This has been wildly successful, with Compound's LM event kickstarting the original DeFi Summer last year.
2/ Since then, LM programs have been the bread & butter growth hacking mechanism for new protocols.
However designing LM programs are extremely tricky.

Give away too much, and you'll have little left in the tank for the future. Too little, and competitors will overshadow you.
Read 12 tweets
Wangarian 🔺 Profile picture
1 Apr
1/ Prelim thoughts on market cycle

We are reaching the stage where valuations are beginning to lose sense.

New projects out the gate with untested proven models are frequently hitting billion dollar valuations.

Multiple 'froth' signals are also surfacing across the board
2/ Does this mean its the top? Not necessarily.

As the saying goes - Signs of froth are indistinguishable from signs of adoption.

However I find myself thinking that certain projects can drop 90% in valuation now and still be fairly valued.
3/ Generic consensus is that $BTC still has some ways to go before hitting a 'top', largely driven by increased institutional acceptance.

Therefore it wouldn't be wrong to rely on a rising tide lifting all boats.

But how long will this last?
Read 5 tweets
Wangarian 🔺 Profile picture
3 Mar
0/ Teaching an old DEX new tricks ($BNT)

4 months ago, Bancor released their flagship single sided Impermanent Loss protection solution for LPs.

70x increase in TVL and 55x increase in volume later,
I present a deep dive on a forgotten DEX that may be the dark horse of 2021
👇
1/ Story so far

Bancor is a OG DEX launched in 2018 (to much fanfare) but suffered from an overcomplicated token model and lacked noticeable traction despite lofty promises.

venturebeat.com/2017/12/12/6-m…
2/ After 2 years of behind the scenes product iteration and a leadership reshuffle, the original Bancor vision is being realised. Consequently, the Bancorian community is stronger than ever led by @yudilevi @NateHindman @MBRichardson87.
Read 18 tweets
Wangarian 🔺 Profile picture
13 Jan
1/ Observations of a dHedge fund manager

Whilst it has its drawbacks, I find myself interacting with the dHedge platform frequently.

For the uninitiated, @dHedgeOrg is a non-custodial copy trading protocol built on top of the @synthetix_io ecosystem.

app.dhedge.org
2/ dHedge's value proposition is simple. It provides a platform for active fund managers to showcase their trading prowess, with a transparent scoreboard for all to see.

Managers can also interact with their investors via public and private posts
3/ Since Mainnet launch in late Oct 2020, dHedge's traction has been growing steadily with ~14m TVL today and over 200 active managers.

Cumulative trading vol on the platform stand at $87m, providing a nice boost to the underlying SNX system as well.
Read 8 tweets
Wangarian 🔺 Profile picture
15 Dec 20
1/ Thoughts on investing and missing winners:
A case study on $COVER.

You can't catch every winner. That said, there's always something to take away from the one that got away.
2/ Since the lows in late Nov, $COVER has ~6x its token price.

I knew about COVER since the SAFE farming days, but dumped my SAFE tokens shortly after Cover released its original tokenomics.

3/ At the time, the lack of thought and poor economic design of the $COVER token was the nail in the coffin for me.

I know many others shared my view. However, we all missed something.

We underestimated the team's ability to learn from their mistakes.
Read 6 tweets
Wangarian 🔺 Profile picture
15 Nov 20
1/ Some of you are wondering why $SUSHI has been pumping.

Sushiswap? Wasn't that the dead $UNI fork that got hacked by the founder 2 months ago?

Surprisingly, $SUSHI never left. Instead - it has silently been building in the background.

Let me break it down for you
👇
2/ $SUSHI's dark horse narrative comprises of 3 main elements:

1. Market proven product yielding stable cashflows
2. Product releases with strong USP factor
3. Near term catalyst

Together, they construct a powerful narrative for Sushiswap's recovery - and why its far from over
3/ Background
After the initial Sushi hype faded (when 10x rewards expired in mid Sep), TVL and Daily traded volume on Sushiswap collapsed.

Nobody thought a fork with no USP could last.

Throw in a $15m ETH scandal by the founder it looked like the end.

Read 13 tweets

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