So far @gnosispay usage came exclusively from Europe. This week we launched @USDC cards in Brasil and in addition Apple Pay support! So we can expect this graph to further go up this the right!
What do you like to see coming next?
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Everyone can mint 1 CRC/h - but what is one CRC worth?
Price discovery is slowly happening. Lets take a look how liquidity works in Circles and how thousands of separate markets find a single price 👇
The first thing to understand is that in Circles there are A LOT of different tokens. To be precise: each user (human) and each group have their own distinct CRC token. Right now, we have 136k different tokens - mainly still those from v1 that have not migrated yet.
So, in theory there could be 136k different prices - in practice, however, most CRC are priced in one another. When 2 people trust each other they are essentially expressing that they are willing to exchange each other's tokens at a 1:1 rate.
So, as soon as a Circles account is trusted, it essentially already has a price (in someone else's CRC).
Today is the 4th birthday of @aboutcircles!
So far, 126,978 users have minted 365m CRC—each representing 1 hour of human lifetime. But to keep Circles scarce, they are not only issued but also constantly burned at a rate of 7%/year—54m in total—resulting in 310,930,358 Circles 👇
Circles was launched in 2020, and while it initially received a lot of attention, it was still too early. We tried to pioneer a consumer-friendly app e.g. already using @safe for account abstraction, but the immature tech combined with the complexities of the Circles web of trust
led to a situation where the app wasn’t working. Most users - despite enthusiasm -gave up before reaching 2,400 CRC (with 24/day, that’s 100 days of minting).
After the initial hype, a period of small and local experimentation followed, mainly in Berlin with around 20 businesses.
sDAI on Gnosis has generated over 11% APY in the last year since it launched. Current rate is around ~8%.
A reaction I often get - what are the risks? Is this safe? Where does the yield come from.
So let me explain it in detail 👇
Lets start with a poll - do you hold sDAI on Gnosis? If not, why not? 1) Yes 2) No - Risk too high 3) No - I have better investments 4) No - I don't know what this is/ who it works
First, a small comment on the initial graph: It appears as if the price had some fluctuations. This is just data inaccuracy from CoinGecko. In reality, sDAI had a continuously increasing exchange rate against DAI and DAI itself didn't have any depegs from $1 in the last year.
Call me crazy, but I think a chain's value should come from the utility it provides. Ethereum is fundamentally offering block space. Currently users are paying ~$2.5b per year for this block space and ultimately this is a measurement of the utility Ethereum provides. (1/6)
How can this increase by 10x over the next years? To me the answer can not be that transaction costs increase by 10x - at least part of it needs to be Ethereum simply offering more block space.
Yes, increasing the block limit will put more load on full nodes. But we should (2/6)
not be naive. I also liked it when I could run a full node on the side on my regular laptop but those days are over and this is fine. In a word where running a validator requires ~$70k worth of ETH (and we still have over 800k of them (!!!)) and a couple of transactions.. (3/6)
Ok - starting from zero - I will now set up a trading bot that crawls the internet to get information about recent topics, evaluates them and uses the result to make autonomous trades on prediction markest.
Let's see if I can get it running in <15 min.
GO!
Ok, first step: You find general information on: but we don't read, we jump right to the quick starthackathon.olas.network
here are the requirements. I have python, I have docker. Poetry (a python environment management system) can be installed with one command.
For anyone in Europe @monerium is by far the fastest, cheapest and most crypto native on and off-ramp. SEPA transfer and minutes later tokens are minted into your wallet 1:1
(1/4)
Once you sign up you can connect your wallet (Metamask or really anything else including @safe and @GetLinen) and a personal IBAN will be generated for you. Now you can do a regular SEPA transfer to this IBAN (from any bank account). As soon as money hits the account... (2/4)
the same amount of EURe tokens will be minted into your wallet. During banking hours this can happen in less than a minute after you initiate the SEPA transfer.
Now you have EURe gnosisscan.io/token/0xcB444e… freely transferrable. (3/4)