QiDao is one of the fastest-growing, most well-respected protocols in defi, and the sheer multitude of ways you can earn $ from it are quite vast...
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I did a big thread on @QiDaoProtocol a few months ago (see below), but today in this thread I wanted to actually break down all the various ways you can earn yield via...(cont.)
...the @QiDaoProtocol ecosystem, as there have been new strategies popping up almost daily it seems like...
As a brief reminder, QiDao is a fully-collateralized disintermediated on-chain stablecoin protocol, using stablecoin $MAI (aka $MiMetic) and governance token $QI.
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The TVL of @QiDaoProtocol has more than tripled since November when it was around $100M, and is now at $365M as of today.
The market cap of $QI is $75M currently.
As promised, here are 10+ ways to earn substantial yield with it.
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One: Become a liquidity provisioner for any of the incentivized vaults on QiDao-Matic (its original native chain).
This includes the @QuickswapDEX $MAI / $USDC vault and $QI / $MATIC vault, and the $MAI-3CRV @CurveFinance pool (see below!).
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Two: Lock up your LP tokens on QiDao-Fantom, which also offers some great incentivized options.
This includes (again) the $MAI-3CRV stablecoin pool on @CurveFinance, and the @beethoven_x pools for $MAI / $USDC or $QI / $FTM.
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Three: Do the same on either of the two incentivized @QiDaoProtocol - Avalanche farms.
To use any of the above strategies, you first 'add liquidity' on the corresponding dex, and then stake your LP tokens not on that dex, but rather on the @QiDaoProtocol site itself under 'Farms'.
Stables usually average 14%-20% in my experience... $QI pairs 60%-100%.
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Four: Lock up your 'pristine collateral' blue-chips in the @QiDaoProtocol vaults and borrow $MAI against them at 0% interest.
This functionality is on a bunch of different chains, and there are a myriad of tokens you can lock up, such as $BTC, $ETH, $CRV, and $AAVE.
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Five: If this wasn't intriguing enough, you can also take INTEREST-BEARING TOKENS and borrow against them.
E.g. You can literally deposit @Screamdotsh and @beefyfinance receipt tokens, and borrow $MAI against them while they STILL EARN YIELD while serving as collateral!
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Six: Lock $QI for 1-4 years on @QiDaoProtocol in the 'Boost' section, and receive weekly $QI yield in return :)
This is one of the coolest aspects of @QiDaoProtocol imo, and I have quite a bit of $QI locked for 4 years in this manner.
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Seven: As a holder of locked $QI, you can also potentially earn bribe rewards for your gauge votes!
Locked $QI holders vote on which vaults earn borrowing incentives, and various entities have utilized bribes to earn such votes since the gauge was implemented :)
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Eight: Create synethic locked $QI and lp it :)
As also seen on the above #FrenchChart diagram, you can- instead of locking it yourself- create synthetic locked $QI via either @tetu_io or @aavegotchi.
Here's a screenshot of the options on TetuSwap:
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I was LPing $QI / $tetuQI in this manner for awhile, until the apr's got pretty low (due to the strategy's popularity I presume).
I haven't tried the synthetic $QI option from @GotchiVault, but here is a tweet from @lemiscate with some info on it:
Gains is the product of coding genius Seb, and allows leveraged trading at up to 150x leverage on a variety of synthetic crypto assets, forex, and (soon) stocks.
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@GainsNetwork_io works similarly to @dsynths (discussed above), in that it also does not rely on liquidity farming, but rather a similar internal algorithm/oracle network to ensure all funding is 'balanced', or within proper bounds.
Thread: Why I Think Synthetics Could Be The Next Big Defi Narrative And Overview Of The Best Synthetic Protocols Right Now
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Alright my froggish brethren, I am going to geek out on the topic of "Synthetics". Let's dive in!
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"Synthetics" are, essentially, synthetic representations of assets/things, that you can trade via an on-chain platform or AMM.
The topic first became talked about when @synthetix_io came out a few years ago, but seems to have largely died down for awhile after that...
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In the last year though we've seen a number of really amazing synthetic platforms spring up, and it seems to me this could be one of the next big 'narratives' in crypto.
Thread: What I'd Do If I Was 18 To Take Advantage Of Inflation And Currency Debasement
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With all the talk about inflation and eating lentils, I wanted to do a fun #FrenchChart thread on what I'd do if I was just starting out with no money in our crazy economy.
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This will be focused on those living in the US, but its probably applicable in other Western countries as well.
Now... the most important thing is getting our income up, but first we need to figure out a way to avoid the financially draining rental rat-race.
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Step One: Presuming you have a w2 job of some sort, go join a local Credit Union or small local bank.
Step Two: Download one of those apps that helps you game your credit score.
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...with limitless scalability. As it is not a chain and does not permanently store data it is free from the restrictions of 'preservation of state'... With Muon, any web3 application can make use of external data..."
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“Muon creates bridges between all blockchains. Think of Muon-bridges as a cross-chain data application - and not just limited to tokens. Any type of data can be bridged cross-chain with Muon.”
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Thread: Why The $DEUS/ $DEI Ecosystem Is One The Most Exciting And Ambitious Projects In Defi
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Its very possible you haven’t heard of it… but some major gigabrains are quietly building something quite astounding on Fantom… 1/x
This is what I’ll refer to as the $DEUS/ $DEI Ecosystem, though that designation doesn’t do it justice.
Think of it more like $TERRA/ $LUNA + synthetics + oracles, all on a supraphysiological dose of defi testosterone.
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I will be honest that a lot of the math and tech behind it is beyond me… and its very possible this thread + #FrenchChart might have some mistakes in it... but I wanted to do a very in-depth thread describing it all as best as I could.
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