1/ Learn & Earn is a great way to spend the bear market.

Popularized by Binance, Coinbase and CoinMarketCap campaigns, they offer rewards for learning about #DeFi or NFTs.

But two projects are bringing this concept to a new level🧵
2/ The 1st one is Rabbit Hole @rabbithole_gg

It curates high quality Web3 projects to help users learn about DeFi, NFTs and DAOs.

For example, $DYDX is currently running a campaign for $50 USD and “Quest Hedgie” NFT rewards.
3/ Every time a user completes a task, the participation is recorded on-chain to build RabbitHole Credentials.

These are soulbound NFTs proving your knowledge and experience in Web3.

It's like your on-chain CV helping 'crypto projects find the right person for the right job'.
4/ Other use cases include targeted airdrops, special access to dApps or unique roles in DAOs.
5/ To prevent Sybil attacks, every user needs to prove he is human on @BrightIDProject app.

The good thing is that the app doesn't require ID number, date of birth, or proof of address.

The bad thing is that I still cannot connect it to RabbitHole 😅
6/ RabbitHole currently has almost 28k registered users.

It seems that DAO and NFT credentials are way more popular then DeFi, maybe because DeFi tasks are more difficult?

Full data on Dune Analytics dune.com/rabbithole/Rab…
7/ @GalxeHQ is similar, yet different.

Similarly to Rabbit, users on Galxe can learn & earn while using Web3 applications.

Currently Optimism is running various tasks for NFT rewards and possibly $OP airdrop.

Arbitrum too partnered with Galxe for Arbitrum's Odyssey campaign.
8/ Also similarly to Rabbit, participation on Galxe earns you credentials that are used for:

• GalxeID - your Web3 LinkedIn
• Galxe OAT - On-chain Achievement Token
• Galxe Passport - Your Web3 Identity stored as Soulbound Token and requires KYC.

Check out my credentials 😎
9/ Galxe credentials support not only on-chain data, but also off-chain records, such as Twitter or Discord accounts.

For example, most of Optimism Quests will require you to follow Optimism projects on Twitter to receive NFT rewards.
10/ Overall, learn & earn apps help projects to bring new users to a #Web3 world where there are no app stores, targeted Facebook ads or email marketing.

It's a win for crypto users, who can earn rewards while learning something new.

Best activity during this harsh bear market!
11/ But these two apps went a step further by creating on-chain credentials system in form of soulbound tokens.

To understand why #SBTs are important, check my thread below.

It's actually shameful that I missed these two projects in my original thread 😅
Did I miss any Web3 Learn & Earn app? Let me know in the comments or feel free to send a direct message.

Follow me @DefiIgnas for more.

Like/Retweet the first tweet below if you can:

• • •

Missing some Tweet in this thread? You can try to force a refresh

Keep Current with Ignas | DeFi Research

Ignas | DeFi Research Profile picture

Stay in touch and get notified when new unrolls are available from this author!

Read all threads

This Thread may be Removed Anytime!


Twitter may remove this content at anytime! Save it as PDF for later use!

Try unrolling a thread yourself!

how to unroll video
  1. Follow @ThreadReaderApp to mention us!

  2. From a Twitter thread mention us with a keyword "unroll"
@threadreaderapp unroll

Practice here first or read more on our help page!

More from @DefiIgnas

Sep 20
1/ TIL Uniswap Analytics TVL data is wrong.

Their official analytics page shows TVL at $10.58B, but the real TVL is around $5B.

How is that possible?
2/ The problem was reported by Ivan Vakhmyanin in his blog post, so I highly recommend reading it.

Or continue this thread for a brief summary.


(Sorry Ivan, couldn't find you on Twitter 😢)
3/ First of all, Uniswap reports ETH/USDC pool TVL at $320M.

But checking the LP smart contract address, we can see that the real TVL is just $175M.

Check it yourself on Etherscan (I was skeptical at first 😅) etherscan.io/address/0x8ad5… Image
Read 10 tweets
Sep 16
1/ Soulbound tokens will bring mass adoption to #DeFi

Introduced just a few months ago by V. Buterin and his colleagues, they're already here!

Here's how souldbound token works and a few projects building on it🧵
2/ Soulbound tokens (SBT) represent a person’s identity on-chain.

SBTs are like NFTs, but they are non-transferable therefore 'bound' to your 'soul'.

They can record your educational, employment, medical or even credit history.

Or serve as proof of attendance certificate.
3/ Lack of a native #Web3 identity prevents DeFi reaching the real world economy, such as undercollateralized lending and apartment lease.

In short, Vitalik and his colleagues believe that soulbound tokens is a crucial missing piece to build a Decentralized Web3 Society.
Read 20 tweets
Sep 13
1/ Neutrino's $USDN is the 4th largest #DeFi stablecoin.

Yet it is currently trading below the peg at $0.92 USD and collateral backing at 10%.


And what $USDN team is doing to restore the peg?
2/ In collaboration with @cryptorisksteam and another anon contributor we just released Neutrino USDN Risk Assessment report that answers these questions.

Read full report cryptorisks.substack.com/p/a-risk-asses…

Or continue reading this 🧵
3/ $USDN is an algorithmic stablecoin pegged to the US dollar and backed by WAVES.

The backing mechanism requires 1 USD in WAVES to mint 1 USDN.

However, original minting & redeeming is now restricted following liquidity crunch incident on @viresfinance
Read 19 tweets
Sep 9
1/ More #DeFi protocols are integrating #NFTs

I researched 10 of them to find out:
• Why?
• What extra benefits do they offer?
• And, the most important, which project has the cutest NFT?

A thread on 🫐 🦔 🦙 💎 🥞 🦡 👻 🍏...
2/ Technical innovation is just one side of building a successful crypto project.

The other one is community.

Because it's a sense of belonging to a group of like-minded people that makes us care about the project.
3/ A highly motivated community serves as a loudspeaker for the team's marketing efforts.

Community members share about the protocol on social media, talk about it to their friends, and offer valuable help to the team.

Even without being paid.
Read 22 tweets
Sep 7
1/ BarnBridge V2 launched yesterday.

The goal is to offer the best fixed-rate yield in #DeFi

But how does it actuallly work?🧵
2/ From a user's perspective, it's quite simple.

During a Subscription period anyone can deposit $DAI to the pool.

The trick is, the more DAI is deposited, the lower the fixed-yield is.

The subscription period lasts for 24 hours.
3/ Then comes the Withdrawal period.

If you think the Fixed APR dropped too much, you can remove your deposit during the 24 withdrawal window.

As depositors leave, Fixed APR increases.
Read 9 tweets
Sep 6
1/ What's new in #DeFi?

To find out, let's follow the money.

Early stage projects that raise during bear markets, have a good chance to come out strong into the bull run.

So, these are the top 10 projects that just raised money 👇
2/ Please note, that most of these projects don't have a token or app launched yet, but are planning to do so in the near future.
3/ Quite a few on-chain trading protocols have recently raised seed round money:

@STFX - $2M from various VCs/partners
@Gammax_Exchange - $4M backed by StarkWare
@zkxprotocol - $4.5M by StarkWare, Alameda Research, Amber Group
@Contango_dex - $4M raise.
Read 19 tweets

Did Thread Reader help you today?

Support us! We are indie developers!

This site is made by just two indie developers on a laptop doing marketing, support and development! Read more about the story.

Become a Premium Member ($3/month or $30/year) and get exclusive features!

Become Premium

Don't want to be a Premium member but still want to support us?

Make a small donation by buying us coffee ($5) or help with server cost ($10)

Donate via Paypal

Or Donate anonymously using crypto!


0xfe58350B80634f60Fa6Dc149a72b4DFbc17D341E copy


3ATGMxNzCUFzxpMCHL5sWSt4DVtS8UqXpi copy

Thank you for your support!

Follow Us on Twitter!