2/ You can't become your own bank even if you want.
The experience of using a crypto wallet or web3 application has always been so painful. More than 15% supply of bitcoin has been lost because people forgot their private keys.
3/ Web3 User Onboarding Experience Sucks
Web3 Onboarding Involves 4 Steps:
- Setting up wallet
- Saving Seed Phrases
- Sending funds to wallet
- Connect wallet to Web3
New users take 15-30 mins to figure out these steps.
4/ What is Account Abstraction
"Account Abstraction" is a confusing word, lets call it "Smart wallets".
Smart wallets are designed to do specific things by providing a great user experience.
The new ERC-4337 standard on Ethereum will make this possible.
5/ How ERC-4337 Works?
There are three participants involve in an account abstraction process.
Smart wallet signs Tx, Bundlers include them in Mempool, They pas Gas fees from their end, and Paymaster compensate them.
6/ Benefits of Smart Wallets
- No need of seed pharses, You can open a new wallet using fingerscan/QR Code/Face Scan in 30 sec.
- You could setup 2FA for your wallet
- You could setup daily spending limits
- You could enable monthly auto payment using crypto for subscriptions.
7/ Seamless Gaming Experience
Smart wallets are designed for Web3 Games, You could set a session keys, and auto approve number of transactions which will improve the overall gameplay experience of web3 games.
8/ You could Recover your Account
If you lose your phone than you can recover your wallet using social and commercial recovery services. It's almost like recovering your PIN/Password of Net Banking Account.
9/ Technical Implementation
EVM Compatible Chains can now take advantage of smart accounts include Polygon, Optimism, Arbitrum, BSC, Avalanche and Gnosis Chain.
L2s Like ZKSync and Starknet are using Modified version of ERC-4337
Both these wallets have implemented some of the features of ERC-4337. Try to make a new account on Argent on your phone, you will see the difference. It's the best mobile wallet on both security, and user experience wise.
You can easily outperform any crypto hedge fund if you learn DYOR.
It will only take 10 minutes, time that you can always spend.
The process is super easy... and it's FREE.
Let's reveal the secret research platform that crypto hedge funds don't know about yet 🧵
What are you looking for?
We are looking for those narratives that could outperform in the next 3 months, and the coins under those narratives where you should have your maximum alt exposure.
There are different ways to find out the next hot narratives and some good coins.
You can pay for Messari, Delphi, and all those fancy platforms and start going through all the detailed reports and data.
Hedge fund managers can always do that, as they are paid to do the whole grind.
Crypto Market has potentially found a bottom, i've enough data to prove that 🧵
1/ @dyorcryptoapp built a bitcoin trading indicator which indicates Bitcoin PA based on ratio between price, and daily volume.. the ratio is called DVMC..and it was going sideways in past few days, it recorded spikes in past few hours, and it is currently trading close to 0.04 level which is an important buying area based on past 6M historical data.
2/ @dyorcryptoapp built a market indicator which suggest the right time to buy alt based on 200 coins al index performance against BTC over the period.. the indicator is flashing a spike, and currently trading above 3.2 which strongly suggest that the alts bottom is in.
We see a lot of great opportunities in the market right now.
Filtering them is super tough.
Leave it to the Data.. they will pick for you.
Presenting My Watchlist for the next bull phase🧵
Before I present the list, you need to understand the trend formation around any coin in a bull market.
Any coin in a bull market usually has 3 to 4 months of continuation. Feel free to validate this using historical charts of most of the coins that rallied in bull cycles.
once you validate that, you build trust.
and when you build trust you start believing.
now 3 months timeframe is your sweet spot for a good swing trend.
You need to figure out those narrative which will outperform in next 3 months to get positioned into better coins.
They're saying Polygon Miden is the next big thing?
Is it really true??
Let's find out... my unfiltered thoughts on Polygon Miden and its potential 🧵
Before I start explaining what Miden is all about, let's imagine for a moment that every single post you do on X should be processed only after a bunch of nodes recompute and reach a consensus that your tweet is valid and it's following the set policies by Twitter.
In that scenario, even if Elon decided to buy and use all H100s as nodes, your tweet will still take a couple of seconds to appear on the feed, and you're gonna get so frustrated and move to some other platforms which provide you the instant processing of information you're supposed to share on the internet.
Less than 1% of the Bitcoin supply is currently used in DeFi.
With the rise of Bitcoin L2s/Sidechains, this number could easily increase to 10%.
Botanix has the best potential to emerge as the market leader in Bitcoin DeFi.
My Investment Thesis on @BotanixLabs 🧵
Around 0.8% of the Bitcoin supply is on Ethereum right now, mostly issued as WBTC and under the custody of BitGo.
The WBTC supply has actually seen a massive decline over the past 18 months; it has fallen from 0.92% to 0.80%.
Some people have moved to hBTC and tBTC, but those numbers are also down.
You could simply conclude that people are losing interest in wrapped BTC for multiple reasons, such as: BitGo holding the custody of your assets, liquidity issues, and multiple DeFi protocol hacks in the past.