DeFi Dad - FIND ME ON GITCOIN GRANTS ROUND 6! Profile picture
🤖 Decentralized finance (DeFi) super-user, curating p2p fintech apps built on #Ethereum. 📺 DeFi Dad YouTube Channel 🎧 Host of The Ethereal Podcast
dominicreeves Profile picture 1 added to My Authors
17 Apr 20
To experience blockchain-based virtual worlds, it doesn’t require a headset! Just a click.

Try the top 8 builds in @cryptovoxels. We will discuss the metaverse with the team at @token_smart in an upcoming episode of the Ethereal Podcast!

1/ Auction house…
2/ @token_smart Amphitheatre

Yes, that's a Viking Ship in the background and if you press F you can fly to it.…
3/ @josiebellini's HQ and yes, I believe that's an enormous version of her iconic Bitcoin gas mask.…
Read 12 tweets
6 Apr 20
@intocryptoast @HegicOptions It’s confusing when you check out Investopedia.

🛡Put options offer the literal option to sell ETH at a specific price (called the strike price)
🛡In @HegicOptions, the strike price = ETH price when you buy
🛡You can exercise options until the expiry date (1-8 weeks out)
@intocryptoast @HegicOptions Here’s an example @intocryptoast:

🛡I see ETH up today at $165
🛡I’m not comfortable selling my ETH cuz I’ve done it before and the market always takes off whe I sell
🛡So instead, I’m willing to pay a fee to have the option to sell ETH at $165 if ETH📉
@intocryptoast @HegicOptions 🛡It’s a way to protect my ETH profits
🛡I go to @HegicOptions and I buy protection for 5 ETH for 1 week while ETH is $165
🛡I pay two fees: 2% / week + 1% additionally upfront on the 5 ETH (meaning 0.15 ETH)
🛡Now I have a right to redeem 5 ETH for $165 (so 825 DAI) for 1 week
Read 6 tweets
13 Mar 20
Given the insane gas prices yesterday, I wanted to share a tip if you ever submit a @metamask_io txn and find yourself saying "dear God, I should've paid a higher gas price!"

You can easily drop/replace the stuck txn by submitting another with the same # (nonce).

Here's how...
In @metamask_io Chrome
1⃣Go to the colored icon -> Settings -> Advanced -> Customize transaction nonce -> Turn on
2⃣Look at oldest stuck pending txn # to cancel
3⃣Send your current wallet a new txn for 0 ETH with the same nonce (txn #) but higher gas price based on @ETHGasStation Image
4⃣How to send:
🦊 Click Send
🦊 Input 0 ETH
🦊 Paste your wallet address, ie defidad.eth
🦊 Set Gas Price (Gwei) higher than the FAST price on @ETHGasStation (in pink)
🦊 Paste # of stuck txn in Custom Nonce

Ethereum should drop/replace the stuck txn with the same nonce #! Image
Read 4 tweets
11 Feb 20
@NexusMutual is a decentralized alternative to insurance, providing the #Ethereum community protection against hacks.

Here's why it should be on your radar:
➕Anyone can buy smart contract insurance
➕Being a backer (staker) can earn up to 50% ROI
➕It's powered by #Ethereum
1⃣ Why Nexus? It's the best/only protection against a black swan/bug in a value-storing #DeFi app.

So if your options are:
❌No protection
✅New insurance that has 28% more capital on-chain than required to pay all claims, what do you choose?

Duh! [see]
2⃣With that framing, data from indicates @NexusMutual has quietly built one of the most successful #DeFi apps to date.

🚀$2.9M USD (13,141 ETH) staked by backers (Risk Assessors)
🚀9,915 ETH in total coverage (what's insured)
🚀Avg coverage = 93.5 ETH
Read 19 tweets
2 Feb 20
Very impressed by the #DeFi portfolio tracker @defisnap! I took a bunch of screenshots using it on @metamask_io mobile browser to demonstrate how it visualizes my own:

💥@UniswapExchange LPs
💥@synthetix_io staking
💥@tokensets trading
💥@compoundfinance lending
1/ First your aggregate Dashboard view. Just copy/paste a wallet address and it calculates in <10 secs.

There is so much to unpack in this Dashboard. I cropped a fraction of mine which gives you a sense how much info them cram into one view. Ignore how ugly my 2nd crop is.
2/ I am always happy to see more being done to enable LPs to easily track/see their position as market makers on @UniswapExchange. I wish could track my return in USD. Currently it’s just Pool %.
Read 7 tweets
11 Oct 19
1/ As someone trading small positions in ETH, BTC derivatives, I've been fascinated by @SetProtocol + @tokensets.

Today, I finally went into beast mode to fully understand this #DeFi magic!

I am convinced most do not understand Set. So here's my dumb explanation in a thread.
2/ Despite all the brilliant peeps building on #Ethereum, most never do more than HODL ETH. While many dollar-cost-average into ETH, they fail to put their ETH to work.

The most obvious example of "money put to work" is using
@compoundfinance to earn interest, lending ETH, DAI
3/ Now, if you've never traded, all you need to know is less than 1% of FT traders are profitable. If you trust that common stat, you only need to know that many successful traders use bots.

Something like 70-80% of daily trade volume in crypto markets is estimated to be bots.
Read 21 tweets