Treehouse Profile picture
Jun 24 7 tweets 6 min read
#DeFi Weekly

TGIF! 🌳 What went down this week? Here's 5 headlines you can't miss!

1. Solend..decentralized?
2. Bancor Halts IL protection
3. dYdX Builds Chain on Cosmos
4. Solana Announces Web3 Smartphone
5. $100M Horizon Bridge Exploit

#WebTr3e #Crypto #Web3

a short 🧵👇
1. @solendprotocol approves whale wallet takeover:
cointelegraph.com/news/what-dece…

Doubts were raised over #Solend's decentralization. Read our thread on this matter! 👇
2. @Bancor Halts IL Protection:
cointelegraph.com/news/bancor-pa…

@Bancor, famously known for its IL (Impermanent Loss) protection feature, is under scrutiny as it halts this LP service due to "volatile markets".
3. dYdX develops its own chain on Cosmos:
cointelegraph.com/news/dydx-move…

@dYdX announces its own chain on Cosmos because of decentralization and performance. It will feature an off-chain order book and 0 gas fees for trading.
4. Solana Labs announces new #Web3 smartphone:
coindesk.com/business/2022/…

@solana introduces the Solana Mobile Stack (SMS), a #crypto layer built on Android along with Saga, their flagship device built by @Solanamobile and @OsomPrivacy.
5. @harmonyprotocol's Horizon Bridge...or Horizon breach?
coindesk.com/tech/2022/06/2…

A hack of the Horizon Bridge caused a theft of around 86K $ETH or $100M. The Harmony team is working with authorities and specialists to resolve the situation.
Subscribe to our newsletter for daily market updates here: bit.ly/CanopyCollecti… 🌳

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More from @TreehouseFi

Jun 24
#CryptoBytes

What happened to @solendprotocol?

It is a decentralized lending platform on #Solana that has been facing community backlash after its recent actions that seem to go against the ethos of decentralization. A summary 🧵👇

#WebTr3e 🌳 #DeFi #Crypto #Solend
Just 2-3 weeks ago, $BTC’s poor price action led to a massive sell-off in major altcoins such as $ETH and $SOL, which reached lows of $881.56 and $25.86, respectively. This also led to on-chain liquidations at the $1K-$1.1K level, according to @parsec_finance.

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One prominent potential liquidation that stood out was a $108M $USDC debt on the #Solend platform where a user deposited 5.7M $SOL, worth $170M at the time, as collateral. The liquidation price of $22.27 was very close to the $SOL price then.

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Read 19 tweets
Jun 21
Not many know this: DeFi Option Vaults (DOVs) have gained tremendous popularity over the past few quarters. The potential for DOVs to revolutionize DeFi in the coming years is HUGE.

Learn more 🧵👇

#WebTr3e 🌳 #DeFi #DOVs #Options Image
What are DOVs? 👀

DOVs are automated vaults that use options as their underlying product to generate returns. At its peak, DOVs accounted for >$500M of the total #TVL in #DeFi options.

/1
2 reasons why DOVs are a force to be reckoned with:
1️⃣ DOVs democratize complex options strategies to the masses
2️⃣ DOVs bring high organic yield to DeFi

We believe that DOVs will shape the #DeFi space moving forward. 🚀

/2
Read 22 tweets
Jun 8
A bipartisan #crypto bill was introduced yesterday, 7 June 👀📝

Also known as the Responsible Financial Innovation Act, @SenLummis and @SenGillibrand proposed a regulatory framework for digital assets in the bill. Here are the key takeaways in case you missed it:

🧵👇
1️⃣ Definitions

The bill recognizes #crypto as digital assets and makes a clear distinction between tokens that are considered securities vs. commodities. The class a token falls into will be evaluated by its purpose and the rights conveyed to its holders.

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Based on the legislation, most #cryptocurrencies like #Bitcoin and #Ether are defined as "ancillary assets" which fall under commodities.

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Read 13 tweets
Jun 7
Many assume that successful investing comes from picking winners during bull markets. However, it is during bear markets that life-changing wealth is created.

Here’s our playbook on how to navigate this Crypto Winter!
🧵👇

#WebTr3e 🌳 #DeFi #BearMarket Image
As we navigate #CryptoWinter together, here are some principles that can help you endure this bear market.

1️⃣ Downside Management & Capital Preservation
2️⃣ Asset Selection & Accumulation
3️⃣ Liquidity Optimization & Capital Efficiency

/1
1️⃣ Downside Management & Capital Preservation

Hedging, sizing, and dollar-cost averaging (DCA) can help you mentally prepare for stressful market movements and generate positive expected returns in the long-term.

/2
Read 13 tweets
Mar 11
#DeFi Daily 11/03/22

#Bitcoin pulled back on Thursday, falling by 8.54%. It found support below the key $39.5k level. Price retested the downward channel which it broke out of on Wednesday during US trading hours.

Read more: 🧵👇 BTCUSD Graph
#Ethereum’s $ETH has hit through the trailing stop loss at $2577 yesterday afternoon. We suggest observing retest of the $2350-2550 base area + trendline since Feb 2021 on a daily chart which also serves the lower bound of the wedge.

/1
#DeFiTVL sits at 200.6b today as it has remained relatively flat throughout the week. Overnight, there were more rotations out of the #Fantom ecosystem, driven by outflows from #Solidex and #Solidly.

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Read 7 tweets
Mar 10
#CryptoBytes

So you’ve heard about Proof-of-Work (PoW) 🔨 being used in #Bitcoin and #Ethereum, what about Proof-of-Stake (PoS) 💰? Read on!

If you’re unfamiliar with PoW, read our previous thread here:

🧵👇
Proof-of-Work and Proof-of-Stake are both consensus mechanisms or algorithms that ensure the security of the #blockchain. 🔒

In simple terms, they are used to select which participants/nodes should be given the chance and authority to add a block to the chain.

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This ensures security because it helps to filter participants who may not be genuine or committed to the #network.

In both mechanisms, chosen participants have to contribute a certain resource such as money or energy. This prevents bad actors from overtaking the network. 😇

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Read 10 tweets

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