#Web3 & #DeFi degen, sharing thoughts and analysis of projects/hot narratives from time to time
Oct 4 • 48 tweets • 24 min read
A detailed report on GMX: drive.google.com/file/d/1ZOZsAv…
Here you will find out: 1. How GMX differentiates itself from others (zero slippage for traders + no impermanent loss for LPs) 2. How value is accrued to $GMX 3. GMX's potential risks and solutions to them...
Here we go!
1. Launched in Sep 2021, GMX is a decentralised perpetual and spot exchange that trading BTC, ETH, AVAX, UNI and LINK with 0% slippage, a 10bps fee, and up to 30x leverage on fast and cheap networks, directly from users’ wallets, without KYC or geographic restrictions.
Sep 16 • 31 tweets • 37 min read
After #TheMerge, most focus on $ETH's potential deflationary impact, or ESG, but very few spot out the issue of MEV after #TheMerge! In this 🧵you will know more about: 1. complete paradigm shift of MEV 2. Why @foldfinance has been rising ~8x within 2 months!
@foldfinance 1. TL;DR: @foldfinance can generate a higher staking reward to $ETH stakers, due to its upper hand on Ethereum order flow, by generating a greater yield from MEV, which leads to a higher block inclusion rate. This causes more people to stake $ETH there, creating a flywheel effect
Sep 8 • 23 tweets • 30 min read
How @newmichwill could potentially maximise the interest of @CurveFinance with $crvUSD as the first ever stablecoin launched by a stableswap!
Here you will know more about the huge upside of $CRV, from the #RealYield prospect:
1. If $UST ends up in a death spiral and cannot snap back to hold the peg, that really means the end of algo -stablecoin era, and all algo-stablecoin holders should now swap for $DAI, $USDC or $USDT. Here’s why:
2. To be a resilient stablecoin, you need to have (i) the economy of scale or (ii) enough backing with the underlying asset for users to redeem. $UST is definitely the first type. It bootstraps the liquidity and scale to a $18B crypto asset - top 10 market cap, too big to fail