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Feb 1 • 5 tweets • 3 min read
#DeFi Q&A #12

Q. Any tips / advice for security when using #DeFi. Have been using a cold wallet (ledger) - what other considerations to avoid getting hacked?

A. A few security / safety tips for DeFi 👇
2/
• Cold wallets like Ledger are great especially for your HODL stash

• Keep seed phrase absolutely and completely secure. This is most important.

• Research projects carefully before entering.

Here are some ways to research:
3/
• Check if the project has been audited by a reputable auditor

• Check rugdoc.io for more information.

• Spread out funds across multiple coins / protocols / wallets to hedge against total wipeout:

4/

• If managing large amounts of money (especially if managing for others), use multi-sig wallets.

• Always use 2FA on all centralized exchanges

• Backup your Google Authenticator
5/
• Learn to identify common scams and ponzinomics in #crypto. $14B of #crypto was lost in 2021 alone to scammers.

• • •

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More from @shivsakhuja

shivsak.eth Profile picture
Feb 3
A 🧵 about why I'm mega-pumped about #DeFi in 2022.

If you look through my old posts, you'll see that I write almost exclusively about DeFi.

No gaming, metaverse, NFTs, TA, trading, shitcoins or shillcoins.

Only #DeFi.

Why am I so excited about #DeFi? 👇
1/
#DeFi is a real world use case of #crypto that is at least 10x superior to traditional finance.

In TradFi, it's hard to get more than get 0.5% interest on cash, and 10% in stocks.

In DeFi, you can get 20% passively with no price exposure.

50-100% if you put in some effort.
2/
It’s still very early in the space.

There are ~20M Metamask wallets.

Users often have multiple wallets, so there are likely < 20M users.

That's < 0.25% of the world.

Read 9 tweets
shivsak.eth Profile picture
Feb 3
#DeFi Q&A #14

Q. What are your thoughts on node projects like $STRONG and $THOR.

A. Happy to be convinced otherwise, but personally I don't love them.

For most of the node projects I've seen, the bulk of the rewards are paid out from new investors coming in.

[1/4]
2/
This smells a bit too much like a ponzi for me, especially since they are marketed as though the earnings come from the nodes.

Perhaps there are ways to sustain it that I'm not aware of, or maybe idk enough about them, but I haven't invested in any because of this.
3/
@mohitjandwani has made a great video outlining this:

Read 4 tweets
shivsak.eth Profile picture
Feb 1
#DeFi Q&A #10

Q. How likely is it that these yield farming strategies will be banned when regulation comes?

A. My thoughts on this below 👇

[1/x]
2/
• #crypto - and #DeFi in particular - is bound to see more regulation. There is too much uncertainty around regulation currently, causing problems for investors and regulators.

• Regulation varies by jurisdiction - so it's hard to say exactly what will be allowed / not.
3/
• Regulation is also slow to catch up. Things move very fast in #DeFi. New projects and models are coming up all the time, which are hard to classify by TradFi frameworks.
Read 6 tweets
shivsak.eth Profile picture
Jan 31
Do you believe $UST will lose peg before March 1st? Here is a strategies for either outcome..

[1/x] 👇
2/
Option 1: You believe $UST will de-peg

Bet Yes on @PolymarketHQ prediction market.

You can make ~700% if $UST peg falls below $0.90 on @coingecko for 5 continuous hours anytime before March 1st. ImageImage
3/
Option 2: You believe $UST will not de-peg

Bet No on @PolymarketHQ prediction market.

You can make ~10% if $UST doesn't depeg by March 1. Image
Read 6 tweets
shivsak.eth Profile picture
Jan 31
#DeFi Q&A #9

Q. What is the difference between $aUST and $UST?

A. $UST is the decentralized algorithmic stablecoin by @terra_money. It maintains its peg through a 2-token mechanism with $UST and $LUNA.

I've explained this before here..


[1/x]
2/
When you deposit $UST to @anchor_protocol, you receive $aUST tokens in return.

$aUST is an interest-bearing token, meaning that the value of the token appreciates to reflect the interest being accrued by $UST.
3/
For example, if you start 1 aUST = 1 UST, and @anchor_protocol is paying 20% APR

Then after 1 year, 1 aUST = 1 UST.
Read 5 tweets
shivsak.eth Profile picture
Jan 31
Here's a degen #DeFi play (high risk):

1. Buy $5k $FTM and $5k $TSHARE

2. Deposit both to the FTM-TSHARE LP on @tombfinance

3. Deposit the LP tokens to @beefyfinance. You will receive beefy's moo LP tokens.

🧵👇 [1/x]
2/
4. Deposit the moo LP tokens to fantom.market.xyz. You are earning 836% APY on this (224% APR)

5. Flip the switch to mark the beefy LP tokens as collateral on @market_xyz
3/
6. Borrow $3k $MAI at 12% APR. You will get liquidated if your LTV > 50% (if the value of your LP tokens falls by 40%).

7. Put the borrowed $3k into the @Defrost_Finance curve stablecoin pool earning 120% APR (230% APY)
Read 12 tweets

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