Ignas | DeFi Research Profile picture
Jun 19 2 tweets 2 min read Read on X
1/2 Seven Emerging Crypto Trends:

• What's up with points?
• Why are projects rebranding?
• Where's the leverage lurking?
• The McKinsification of DeFi?

Discover more: ignasdefi.com/p/seven-emergi…
2/2 Airdrop Farms of the Week

✦ @CatalystAMM:

• Cross-chain AMM for easy swaps and liquidity sharing across blockchains, powered by Wormhole.

• Currently supports ETH swaps between Optimism, Blast, and Base.

• Eggs Rewards launched on May 21: Distributed weekly for 10 weeks for LPing and swapping.

• Loyalty Score: Tracks activity over time (0-100). Influences what hatches from Eggs.

• Referral: 7% kickback. Use my code for extra Eggs.

→ Join here

✦ @farcaster_xyz:

• Major player in crypto with recent $150M raise at $1B valuation from Paradigm, a16z, etc.

• Potential token launch and airdrop.

• Join with my invite to earn 50 Warp tokens for minting NFTs, creating channels, and more.

→ Join here:

✦ @ZircuitL2:

• Layer 2 solution with potential for big airdrop and token launch.

• Backed by Pantera, Dragonfly, and Binance.

• Integrated with major LRT protocols: Farm LRT + Zircuit airdrop simultaneously.

• Deposit LRT ETH for 2x points, withdraw anytime.

→ Join here app.catalyst.exchange/join/defiignas
warpcast.com/~/invite-page/…
stake.zircuit.com/?ref=tt2e5v

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More from @DefiIgnas

Jun 13
1/6 Two-year price performance of the popular EVM DEXes:

Only $UNI outperformed $ETH.

$CAKE and $BAL lagged, but $CRV took the biggest hit.

There's much to learn about product and tokenomics from these results.

A few takes below: ↓ Image
2/6 While the $BAL price dropped, the market cap increased by 49% from $143m to $204m USD.

The continuous token issuance imposes a heavy tax on $BAL token holders, who end up subsidizing LPs. Image
3/6 The same story applies to $CAKE and $CRV:

$CAKE's spot price dropped by 40%, yet its market cap remained largely unchanged.

Similarly, $CRV's price fell by 78%, but its market cap stayed largely the same.

Similar situation for $DODO
Image
Image
Read 6 tweets
May 27
FOMO just hit me hard.

First time since March.
Research intensifies!
Two weeks ago, I shared in my blog that "My gut feeling tells me we are going higher, and the market is looking for a catalyst to exit this accumulation zone."

ETH ETF + Regulatory 180 will do the trick Image
Read 4 tweets
May 22
The Life of a DeFi User: Visualized.

Deposit tokens, earn points for airdrops. All good until - BOOM.

Step on a mine: a hack or rug pull. Money lost.

And trust me, losing $10k to a DeFi hack hits harder than losing same $10k trading memecoins.
If you've never felt it, consider yourself lucky.

I've been relatively lucky too. Last time I hit was stepping on Terra's UST mine and now I got rekt on Alex labs.

Thankfully, Alex will offer partial refunds to all users.
Even the most established DeFi protocols get hacked.

Simple, boring tip: never deposit all your $ into one protocol.

The Curve Finance hack made me realize it, so I didn't get hit hard on Alex Labs.

Diversify into multiple protocols; you'll play it safer and get more airdrops.
Read 6 tweets
May 19
1/ Runes protocol launch ended up as a "sell-the-news" event.

But the Runes community is still strong and BTCFi protocol teams continue to build.

I believe a small spark is needed to ignite the Runes hype fire again. A few possible catalysts ahead: ↓ Image
2/ First short-term catalyst is Runes token listing on major CEXes.

Both Kraken and Binance recently released research reports on Runes.

Kraken even teased Runes listing on their exchange. Image
3/ Currently, Runes trading experience isn't much different from trading BRC20s.

(Although Magic Eden did some UI improvements).

But Bitcoin soft forks (or speculation of it) like OP_CAT could bring significant improvements for Bitcoin L2s, smart contracts & all BTCFi space.
Image
Read 6 tweets
May 17
1/ Bearish sentiment for $ETH is dominating on Crypto Twitter.

But Coinbase believes ETH will surprise to the upside later in the cycle.

Here are the top ten reasons why: 🧵
2/ Ethereum vs. Competing L1s:

Ethereum ecosystem still dominates DEX volume but Solana and other L1s are eating into ETH's market share.

Plus, ETH's developer ecosystem, EVM proliferation, and role in DeFi as collateral keep it competitive. Image
3/ Stablecoin Supply:

ETH dominates in stablecoin issuance: a sticky metric for adoption.

Even as Solana grows, even Ethereum L2s like Arbitrum surpass Solana in stablecoin supply. Image
Read 12 tweets
May 17
1/ Airdrop farming with points is losing its hype.

But points are just the latest trend in our ongoing token printing experiments.

So, what's next for points, airdrops, and token printing? 🧵
2/ Airdrops is the evolution of the way we issue new tokens to the market.

And every cycle, we find a new way to print tokens. And it gets easier each time.
3/ In pre-Ethereum times, launching a PoW blockchain was the way to print tokens.

Litecoin, Bitcoin Cash, Bitcoin Gold...

Fair enough, as tokens were either airdropped to BTC holders via a fork or mined with relatively low requirements.
Read 24 tweets

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