1/ With @NEARProtocol and @auroraisnear popping up time for another bridge thread as you don't want to miss out on the next capital rotation!
2/ TLDR
Aurora is an L2 EVM compatible scaling solution built on the NEAR protocol. It also offers high-throughput with low transaction costs for users.
Some of the interesting highlights are summarised below:
3/ Adding Aurora to Metamask
a) Manual input
Network Name: Aurora
New RPC URL: mainnet.aurora.dev
Chain ID: 1313161554
Currency Symbol: aETH
Block Explorer: explorer.mainnet.aurora.dev
or
b) Visit chainlist.xyz to add the Aurora Mainnet network directly to Metamask
4/ Bridging Funds
a) From Ethereum
Using Rainbow Bridge (rainbowbridge.app):
• Connect your wallet to Ethereum mainnet
• Enter the token to transfer (currently only supports $ETH and $USDC)
• Confirm the transfer and wait about 10-20 mins
5/
b) From Terra
Using @Allbridge_io (allbridge.io):
• Connect to Terra via Terra Station wallet
• Paste your Metamask address and amount of $UST to bridge over
• Confirm transactions in Terra Station + Metamask and the funds will be ported over <5mins
6/ Bridging Tips
Use Terra if you want to avoid the high gas fees on Ethereum mainnet + it takes faster for the funds to arrive.
Also, there is no gas fees needed to be paid on Aurora and all transactions are currently free!
1/ A short explanatory thread on @vestafinance covering:
• What the project is about
• How they differentiate themselves from competitors
• Mechanisms
• Why I am excited about this project
2/ TLDR
Vesta Finance is a lending protocol (currently building on Arbitrum) that allows users to borrow $VST stablecoin against their collateral without having to pay interest rates
It offers instant redemptions and is governed by a stability pool (auto liquidations)
3/ Some things to take note of before delving deeper:
• $VST - Vesta stablecoin pegged to the USD
• $VSTA - Vesta governance token
• MCR - Minimum Collateralization Ratio
• Vaults - Collateralized debt positions
• Stability pool - Liquidate vaults that are below MCR
1/ One of the biggest drawbacks of using Optimistic rollups is the 7 day withdrawal delay when using native bridges.
@bobanetwork decided to build their own bridge that only takes ~10 mins to withdraw from L2 back to the mainnet.
A guide on how to onboard to Boba Network 🧋
2/ Introduction @bobanetwork is an Ethereum Layer 2 Optimistic Rollup scaling solution that claims to help:
• reduce gas fees
• improve transaction throughput
• extends the capabilities of smart contracts
• reduce 7 day withdrawal delay to a couple of minutes
1/ Back in September, @Algorand announced their $300 Million DeFi fund to support the growth of its ecosystem. What that means for us 🦍is another chain to bridge our funds over to ape in!
Here's a quick thread about how to onboard to Algorand 👇
2/ Short background
Algorand was founded by @silviomicali as a Layer 1 blockchain aiming to be scalable and secure to enable a decentralized digital currency and transactions platform.
1/
With crypto experiencing high degree of price fluctuations, it is imperative for protocols to offer safer products for the more risk averse investors.
Enter @templedao, which aims to offer a safe place for DeFi natives to seek refuge against volatility.
An ELI5 thread 👇
2/
TLDR: TempleDAO offers users automated investment pools to stake tokens to earn yield while reducing price fluctuations often seen in high risk crypto coins.
They employ several stability features in order to help stabilize the protocol and ensure investors are protected.
3/
Gap in the market
- Fixed supply of tokens: as more people enter this causes price to rise > early investors start selling which causes price to fall
- Mint 2nd token to incentivize staking: usually a worthless token which causes also causes mass selling