I don't want to be that person, but considering the growing amount of FUD around $WBTC, I figured it's worth checking how Avalanche money markets are getting their price. Why is this important? Because $WBTC is currently in a middle of a depeg, trading 80 bps below 1:1 parity with $BTC on Binance.

This might be a lack of MM to arb the trade or a sign of some problems with the @BitGo - a company that custodies underlying Bitcoin.

Alpha #1 vault from @hedge_farm launched today on #Avalanche. Right now the deposits are available only for users on the allowlist with public access opening on Friday.

What is this vault, and how do you participate? In short, the vault takes users' deposits in $USDC, locks them up for an epoch's duration (28 days) and uses them to generate yield.

The yield comes from 2 sources:
• DeFi farming with stables
• Trading volatile assets

We all know and use blockchain explorers for exactly what their name suggests - exploring the chain.

But if I tell you that they are so much more than just databases of past transactions and wallets?

Here are five cool features you might not know about: 1. Token approvals.

Token approvals allow third parties to access and transfer our precious tokens. This is useful for things like NFT marketplaces and yield farms.

It can also result in a loss of funds if the third party is malicious or is exploited.

Today, @MessariCrypto have published their quarterly report on the state of #Avalanche.

It's worth a read on its own, but here are some quick takeaways I find interesting: Activity on C-Chain is on a decline, but subnets (DFK and swimmer) are growing, recently hitting an ATH on daily transactions.

Activity shift from the primary network resulted in a decline in revenues, but that's by design.

Undercollateralized lending is somewhat of the "holy grail" of DeFI.

Existing applications like @AaveAave and @BenqiFinance require borrowers to put up collateral worth more than their loan. They do this because, in the absence of background checks, credit ratings and KYC, it's usually the only way to ensure the loan is paid back.

This protects lenders but ends up being not a very good deal for borrowers.

Perpetual futures (aka perps) are one of the most powerful tools in the retail trader's arsenal.

They are responsible for some of the biggest wins but also for some of the most devastating losses.

But what exactly are they? (Part 1/N) The common explanation is that futures are "contracts between two parties that oblige them to buy or sell an asset at a predetermined future date and price".

And that perps are simply futures with no expiration date.

But that doesn't really capture the complete picture.

Now that the FUD has settled and bears are fitting to decide who is the biggest bear, it might be a great time to dive into #Avalanche.

Not sure where to begin?

This thread should help you get started with the red chain. 1. TECH
Avalanche is a heterogeneous network of multiple different blockchains.

In simple terms, it scales horizontally by allowing pretty much everyone to build a custom chain with provided tools.

Read more about it in the official whitepaper - assets.website-files.com/5d80307810123f….

Delta neutral protocols might be the next big thing in DeFi.

Everyone is already going crazy about the cashflow assets (e.g., $JOE, $GMX, $SNX), so Δ-neutrality makes sense as the next step. But first, what exactly is the delta (Δ) neutral position?

In simple terms, it is a strategy that combines multiple long and short positions so that the net change of its value is zero in all market conditions inside a certain range.

When @Platypusdefi gauges finally get released, 3,000,000 $PTP tokens will be up for grabs each month.

That's $450,000 worth of emissions available for protocols looking to deepen their liquidity.

Therefore, one of the most important questions here is: "who'll participate?". So let us speculate a bit on what might be in store for $vePTP governance.

It's too early to make any concrete claims, as we are yet to get official docs on gauges, but assuming they'll work the same way $veCRV does, it becomes possible to make some predictions:

Yesterday $GMX hit a new ATH vs AVAX and ETH yesterday and is now up 66% from the start of the month.

A lot of bullishness on the timeline but why the sudden rally?

Here are three main driving factors in my opinion: 1. Rise of the "cashflow tokens" narrative.

People are starting to pay closer attention to coins that generate yield in stables or base assets (e.g., ETH/AVAX). Notable examples include $JOE, $SNX, $CRV and, of course, $GMX.

So imagine you used this dip to buy more of that sweet JOE and now want to get some yield on it. Where do you go?

At this moment there are four basic options: Vanilla -
Stake your JOE for sJOE on the @traderjoe_xyz's website to earn 0.05% in USDC of all the swaps. The APR currently sits at ~100% thanks to the recent spike in the volume.

If we define depeg as a loss of ~1%, a hypothetical $cowUSD+$USDC pool on Curve with A=200 and $100M in liquidity will suffer a depeg for $cowUSD when there is $76.6M of USDC and $23.7M of $cowUSD in it.

That's 3.2:1 unbalance. MIM-3CRV has an amplification factor of 2000 (A=2000). That means depeg occurs only when the relation between amounts of assets in the pool is 11.5:1.

This whole UST situation made me realise how many crypto investors aren't actually crypto/DeFi users.

I certainly used to know this in a past, as my own first steps into DeFi were very recent (August 2021), but somehow this knowledge escaped my head during winter. It's pretty easy to forget that majority of people just hold their coins on Binance or KuCoin because CryptoBanter, Bitboy or r/cc told them so.

They probably haven't read a single whitepaper and certainly don't care about thousands of CT threads and dramas.

To understand why our stablecoins keep depegging it is important to first understand and follow Curve Finance.

It is one of the biggest (1st until recently) protocols in DeFi and a major battleground for all the stablecoin drama. At the first glance, it is just another DEX just like TraderJoe or Uniswap: there is a pool with crypto assets and you can trade with it instead of relying on always having a 2nd party on the opposite side of a trade as you would in a traditional order book exchange.

Avalanche's @traderjoe_xyz earned more fees in a day than some of the L1s did in a week. Market cap down 📉, revenue for LP and sJOE holders up 📈.

What is @GMX_IO and why you should care about it? While being in the top 20 projects on #Avalanche by TVL I don't really see enough people talking about it which is a bit of a shame since it's probably one of the most sophisticated and interesting DeFi protocols I've seen. In short, it is a decentralised exchange for perpetual and spot trading. What that means is that you can long or short assets (currently supports ETH, AVAX and BTC) with up to 30x leverage or use it as a normal DEX and perform swaps with zero slippage.