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How to win at Autopools

APs help you solve market making but still requires active allocation

Meaning, the choice of when to deposit and what ratio of assets to deposit matters twitter.com/i/web/status/1… 2/

Take AVAX/USDC for example

Let's say you think this is the local bottom for AVAX and you expect price to increase

If you think AVAX will increase a lot quickly, then it's best to just hold AVAX in your wallet

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$JIMBO V2 was exploited for $8M

Effectively, the exploit works by:
• Buying JIMBO low
• Selling JIMBO high

Below I explain how and possible mitigations

// THREAD // 2/

Attacker flash loaned $10M of ETH from AAVE

Added some JIMBO at a very high price 896 bins above the last JIMBO bin

Then used the ETH to buy up the entire liquidity of JIMBO + 1 so price of JIMBO spiked up to the very high price bin

When you start off as a forked project, it can be intimidating to even think you're capable of innovating something new.

The key is baby steps. Each little small progressive step builds your confidence until you can finally tackle something big.

A little timeline... • July 21: Fork UniV2 and launch TJ. Just me, a Solidity noob, and @0xmurloc who likes to pretend he's good at frontend.

• Oct 21: Fork CREAM and launch Banker Joe. Lots of sleepless nights and 6 fig bug bounties paid to keep it secure. We get a srs lesson in security.

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The Plan TLDR:

• Incubator with industry elite experts
• Liquidity to acquire grails for sub-daos

I'm bullish the Avaissance because it solves BOTH supply and demand.

Read on👇

https://twitter.com/avalancheavax/status/1641108182553722881

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I expect things to start off slow and ramp up in the weeks to come as folks figure things out

Clearly the flywheel here is:

• Create dope collection
• Start sub-daos
• Sub-daos compete to acquire grails
• When grails are in demand, floors will naturally be in demand too

Decided to give myself a little challenge and become a smart contract auditor in 3 months

Gonna start with some learning, then participate in some competitions

So if i start posting a lot of solidity and security content, you know why

Let's get it 🫡 Slot 1 on Ethereum 101 complete ✅

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Been mulling over whether IL is a good metric for LPs

Cos by LPing you become a willing buyer/seller. It’s great if you want to start DCA’ing in/out of your position

So comparing it vs hodling isn’t really the right comparison here

Let me explain 🧵 2/

Say you LP AVAX/USDC

It’s now $20 and you think we’re near local top so you want to start selling your position

You can do this by LPing on LB

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I’ve reflected on how the $JOE team has evolved this year.

Now time for some personal reflections… 2/

At the start of the year, the idea of creating a protocol from scratch was very daunting, almost impossible.

But Rocket Joe turned out to be so so important for building that initial confidence as a team.

Joepegs and LB soon followed.

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2022 is almost over.

A whole year of down only followed by two massive black swan events. It couldn't have gotten worse than that.

But for the $JOE team, we have much to celebrate about.

Here are some key highlights... 2/

• Our NFT marketplace, Joepegs, is deployed May 2022.

• Joe Studios is created over the summer, which has been responsible for top NFT collections like Smol Joes, Rich Peon Poor Peon and Plague Game.

• Our V2 AMM, the Liquidity Book, is deployed Nov 2022.

Rich Peon Poor Peon was a new test for us.

It was our first NFT project that had no semblance of JOE and served as the litmus test of whether we had any business building NFT projects.

Here are 5️⃣ things I learned that I hope other NFT projects may find useful 🧵 1. Keep the messaging short and simple

Engagement is how you spread awareness so it's paramount that your messaging is short and simple. It doesn't matter if you're English, French or Frog - smash rock and PGMI are simple enough for anyone to understand and repeat over again.

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With just over 2 weeks until The Great Mint Race 🏎🏁,

Here's a thread why you should participate and how it could propel your web3 career with the profiles of past participants as an example🧵 2/

@0xnivek

Spent 3 years at FB after graduating from Cornell where he went from E3 to E5. Stumbled upon the liquidation bot bounty one day and was 1 of 3 participants. Ended up joining $JOE full time where his main contribution was building the indexer for Joepegs.

This guy pointed out that if Ava Labs were to pick a favourite, it should be a foreign MP like Opensea.

This is bad for many reasons. A thread 🧵

https://twitter.com/CryptoTroller/status/1569851288669622272

Reason 1:

They're not gonna give a shit about Avalanche and you only need to look at Defi for that. AAVE, Curve, DFK are all here but they've done nothing to build the core community. They can barely tell you what other projects are there.

Seems like people like the 1 million dollar plan to make $AVAX a top 3 NFT ecosystem. Or are at least intrigued by it, which is a start.

Let me address some replies here 👇: Let's not turn this into some moral debate. There's nothing fake/immoral/illegal about sweeping floors. It's a pretty normal practice.

https://twitter.com/JustnThePhotog/status/1569805364614565889?s=20&t=s5FIsndc5bCI3QjGSwhd7Q

The 1 million dollar plan to make $AVAX a top 3 NFT ecosystem

In 2 easy steps ✌️

Read on 🧵 To build a thriving ecosystem, you need both supply and demand.

Step 1 is about supply, step 2 is about demand.

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If you're feeling hopeless or angry cos this crash wiped you out, let me share a story...

In 17/18 I saw my 20x gains completely wiped out and then ended up losing 2/3 of my initial as well

I was beyond pissed at the world 2/

At the time I was still a doctor, learning code on the side

I made it a goal that by next cycle I will be building instead

With literally nothing to lose at this point, I channelled all that anger and went back to school to learn computer science

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A lot of us came into crypto because we were tired of what was going on in the world around us:

The Establishment
Mainstream Media

Sad to see it now creep into crypto. 2/

I choose to build on #Avalanche not because I'm a maxi.

I choose to build here because of the love and support I've received.

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For every Azuki there are probably dozens of NFT pfp projects that completely flop.

So what makes blue chips like BAYC, CloneX and Azuki so successful?

Is it the art? I outline my thoughts below 🧵 2️⃣

The art is important, but not the deciding factor.

The graveyard of beautiful pfp art that derive no value is very crowded.

With the art, is just has to be unique and good enough.

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Re: My take on Andre

A typical idealistic nice guy

That crumbled under the harsh realities of people

Who are inherently selfish, greedy and dgaf about your well being

So he used that as a means to justify bad behaviour 2/

I see this happen all too often in my short time in crypto

And I hate it

“I work so hard and they dgaf me so I’m not gonna gaf them too!!”

I bet this is how 99% of rugs evolve

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Since inception, Trader Joe has helped launched hundreds of projects, many of which have succeeded and many which have not.

Of those that do not, they usually violate one of the points below.

I call these the New Crypto Founder Red Pills 💊 2/

Farm incentives is not the antidote to poor price action

"But if u provide high APR people will have high incentive to buy our tokens."

No, the real antidote is good product and community management

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Rocket Joe is one small step in defi, but one big step for the future of $JOE 🔮

To explain why, first I must give a little history about how we've progressed over the past 7 months 🧵 2/

Trader Joe was launched on July 3rd by myself and @0xmurloc. We were two web2 guys who wanted to get into web3.

With zero experience, we did what most people do - fork something and go with the flow.

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We are now less than 24 hours from our first RJ launch event with @heroesofnft.

There’s a mix of buzz and confusion in anticipation for tomorrow, so I just want to clear the air and give some tips of advice: 2/

You will receive LP tokens, not HON tokens.

For example, if you deposit 1 AVAX, you receive LP tokens worth 0.5 AVAX and equivalent amount of HON.

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So what really is ROCKET JOE?

Is it a launchpad? Not quite.

In a nutshell, it's the decentralised version of the "CEX listing".

In this thread, I shall explain in detail 🧵 2/

First, let's describe launchpads like @AvalaunchApp.

A project like @heroesofnft will distribute 5% of their supply for the IDO.

In this specific case, they're putting up 10mm tokens for sale at a price of $0.10 per token.