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Emin Gün Sirer🔺 Profile picture
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7 Oct, 5 tweets, 3 min read
You may have noticed a big jump in the yields across @Aaveaave, @CurveFinance & @BenqiFinance on #Avalanche today. Let’s take a minute to look at what #AvalancheRush has already done for the ecosystem:

Rush is the largest DeFi incentive program ever, now valued at over $600M dollars. Since it was announced on August 18th, the growth of Avalanche has been nothing short of incredible.
In the 50 days since the announcement, Total Value Locked on Avalanche has skyrocketed from $312M to between $4.5B-$5.4B (depending on which source you use: @DefiLlama or @ioMarkr)
Avalanche Rush has been a bigger, faster success than even our wildest hopes, which caused yields to lower faster than expected. We heard the community feedback and decided to expand the program ahead of schedule to support this growth trajectory.
We want everyone to feel the Rush, and see just how fast and easy to use blockchains can be.

Oh, and the best part? Rush is still just getting started🔺

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More from @el33th4xor

Emin Gün Sirer🔺 Profile picture
30 Sep
1/ It’s a wild month! I’m excited to see #AVAX on @Coinbase, giving over 68 million people globally simple, easy access to #Avalanche
🧵⬇️
blog.coinbase.com/avalanche-avax…
2/ Listing on Coinbase is no easy task. Many projects have gone through this coveted process, so I wanted to acknowledge a few of the amazing projects - from play-to-earn to stablecoins - new to Coinbase in recent months.
3/ @AxieInfinity $AXS exploded this year, bringing the metaverse into the mainstream. With over $42M in sales in June 2021 alone, there’s no doubt that there’s more room to grow with gaming on-chain. I think play-to-earn is here to stay, and the Axie team is leading the way!
Read 7 tweets
Emin Gün Sirer🔺 Profile picture
5 Sep
It seems essential that NFTs, being fashion and conspicuous consumption goods, lose, and in fact need to lose, their coolness factor over time. The same way we can't buy a wardrobe once and be cool forever, we'll need new hip avatars regularly.
Every item, from paintings to clothing to NFTs, experiences some decay in hipness over time.

Let lambda be the time it takes for some item to go from its maximum coolness to half its coolness. Think of it as the half life of cultural coolness.
So, if lambda for some thing is 1 year, that thing is half as cool in a year. In 6 years, it loses 98% of its coolness, starts looking like your grandfather's wristwatch.
Read 12 tweets
Emin Gün Sirer🔺 Profile picture
31 Aug
You may have heard of Major League Baseball.

You may have heard of baseball trading cards. Now they are NFTs.

Guess where they are launching.

#Avalanche
businesswire.com/news/home/2021…
Where have you gone Joe Di Maggio?

#Avalanche
“Remember these two things: play hard and have fun." Wise words from baseball icon Tony Gwynn, and the mentality we remind ourselves of everyday.

#Avalanche
Read 4 tweets
Emin Gün Sirer🔺 Profile picture
29 Aug
Between $3m rocks and $12k for an invisible rock, everyone is saying that we've reached "peak NFT" today, and that we will only go down from here. I beg to differ.

>>
NFTs are going to be with us for a long time to come. We have not yet seen the traditionally collectible content (e.g. Major League Baseball, soccer, etc) in digital form. We have not seen any viral NFT-based games. Nor have we seen any good NFT applications. >>
Most importantly, NFT-related tools are abysmal and the NFT ownership experience is pretty rough right now. The current NFT experience is simply a copy of the old playing card experience, with a lot of extra steps.

And yet, there's insane interest in NFTs!

>>
Read 5 tweets
Emin Gün Sirer🔺 Profile picture
22 Aug
@gross_bit Yes, I'm happy to explain: what you're seeing is a feature, and further, the behavior you want is also supported. Chains where the addresses never change are disasters from a privacy standpoint. Avalanche is protecting your privacy here. Let's delve further >>
@gross_bit Suppose that the wallet just gave you a single, static address. Imagine now that we go to dinner, you pay, and I need to send you my half of the bill. I get to discover your address, *I get to know exactly how much you have* and *I get to watch all your future transactions*. >>
@gross_bit To avoid this, the Avalanche wallet gives you a new address as you use old addresses. That way, you can receive some money from me, and some money from someone else, without us being able to see each other's activities. >>
Read 5 tweets
Emin Gün Sirer🔺 Profile picture
19 Aug
1/ Yesterday, the #Avalanche Foundation announced the biggest #DeFi incentive program to date. This will catalyze the next phase of hyper-growth that I’ve been personally looking forward to since launching Avalanche mainnet last year.
2/ All facets of the DeFi ecosystem need to co-exist and collaborate to create a functioning and widely adopted digital financial system: automated market makers (AMMs), DEXs, borrowing and lending protocols, insurance protocols, and the list goes on.
3/ It’s crucial to have all DeFi primitives working and communicating with each other flawlessly. DeFi users also need a seamless experience to participate in the ecosystem.
Read 7 tweets

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