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Res
Research @proximityfi | ex-F1 Engineer 🏎 | Aerospace Engineer ✈️ | All views here are just my own, NFA
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Jan 12 β€’ 5 tweets β€’ 2 min read
This isn't about TA but about psychology. Gonna use this example.

$AIRI is consolidating within a tighter range, with overall trend to the upside. How many times the $0.0045 area has been touched?

The tighter the consolidation, the more violent the next move will be.

[1/5] Image Market reacting positively to the recent CPI print. BTC close to 19k, FET and OCEAN making new HHs, PHB and other AI coins up

Think what this chart is saying to sellers and buyers. When there are no big dips, eventually emotional humans are forced to buy as they feel fomo

[2/5]
Dec 19, 2022 β€’ 13 tweets β€’ 7 min read
1/ It Is Finally Live!

#NEAR is now compatible with @MetaMask πŸ”₯πŸ”’

Thus, NEAR becomes the first non-EVM chain to offer MetaMask compatibility through a smart contract called #NETH, developed by @proximityfi

Thread on how NETH works πŸ§΅πŸ‘‡ 2/ #NETH is a smart contract that enables your Ethereum address to remotely control your paired NEAR account via signing transactions.

NETH is deployed on the NEAR side and allows you to directly interact with NEAR dApps using most Ethereum wallets, such as MetaMask
Nov 5, 2022 β€’ 19 tweets β€’ 8 min read
1/ Can't believe market isn't aware of this gem

-Active liquidity management & market making on UniV3
-$3M Mcap | $10M FDV w/ 67.5% staked
-Fees>Mcap lol
-Just moved to Arbitrum
-Real Yield & utility

Enter $GAMMA | @GammaStrategies

THREAD 🧡
s/o @CryptoDamus411 for discovery 2/ Gamma is a non-custodial, automated, active concentrated liquidity manager

Gamma's Supervisor contacts (Hypervisor + input strategies), automatically manage the price ranges, rebalances assets, and re-invests earned fees to generate yields in an optimal way
Oct 27, 2022 β€’ 26 tweets β€’ 8 min read
1/ If you missed $CPOOL, don't miss $dAMM

TGE on Oct 31, but you can get it now at $300k Mcap πŸ‘€

The market might not know about it due to complex dynamics and ambiguous info

I went down the rabbit hole using Discord, Dune & Nansen, and this is what I found out

A thread 🧡 2/ $dAMM is the main token of @dammfinance, an undercollateralized lending protocol similar to $cpool that lends out tokens, including altcoins, to accredited market makers
Sep 7, 2022 β€’ 20 tweets β€’ 7 min read
1/ On Hedging: what is hedging and how to hedge

(with an example, fully on-chain and decentralized)

A thread 🧡 2/ WHAT IS HEDGING

Hedging is an advanced strategy to minimize the risk of your investment by offsetting losses

Think of it as an insurance policy. If you want to protect your home against the risk of fire, you might protect it by taking out insurance
Aug 31, 2022 β€’ 33 tweets β€’ 10 min read
1/ Enabling cross-chain composability: how @NEARProtocol’s Nightshade will disrupt DeFi

A thread πŸ§΅πŸ‘‡ 2/ This thread aims to provide the main takeaways from the more extensive research by @proximityfi that I personally wrote and you can find here

I've tried to make it as simple to understand as possible

medium.com/@ProximityFi/e…
Aug 8, 2022 β€’ 25 tweets β€’ 5 min read
After recent events, it is time the crypto space develops a new stablecoin that is

- 100% decentralized
- censorship resistant
- truly resilient

In this thread I'll explain and summarize one interesting idea to issue a BTC/ETH-backed stablecoin using derivatives contracts πŸ§΅πŸ‘‡ 1/ Let's understand the motivation first

Today:

- The US sanctions Tornado Cash and following this event
- Circle blacklists Tornado cash addresses by freezing USDC
- Github suspends accounts of Tornado contributors

Jul 29, 2022 β€’ 5 tweets β€’ 2 min read
While you are too busy with FOMC, CPI, unemployment data, GDP, recession, Powell, FED, Lagarde, Japan bonds, etc etc.

I just have notifications on for @Bitboy_Crypto

He is the HERO you don't deserve

He gave you a clear signal to max long at the bottom Image Sometimes it's just this easy

The signals are so good that you don't even need to know anything about markets to make money

Don't overthink

Just follow Image
Jun 30, 2022 β€’ 24 tweets β€’ 6 min read
$USN v2.0 has just been announced:

"A flexible stablecoin that can adapt to any market conditions"

v2.0 Phase I Design: collateralized 1:1 with $USDT + offers a sustainable native yield thanks to $NEAR staking rewards

Keep reading πŸ‘‡πŸ§΅

1/x
TLDR; $USN v2.0 shifts to a flexible model that will be split in 2 phases:

- Phase I: USN is 1:1 backed w/ USDT and offers a sustainable native yield obtained from NEAR staking rewards

- Phase II: USN will also be collateralized by non-stable assets, starting w/ NEAR

2/x
Jun 19, 2022 β€’ 5 tweets β€’ 2 min read
$USDD might go down to $0.85, but it must stay above $0.85

JustLend shows that $USDD is $1. It seems this is hardcoded

As Collat. Factor = 85%, this means that if USDD goes below $0.85, then ppl can buy worthless $USDD and borrow $USDC for a profit, draining the protocol Things don’t look good

I wouldn’t touch it. Collateral in stablecoins is higher than USDD in circulation

However, if they buy USDD they are spending money
Jun 15, 2022 β€’ 19 tweets β€’ 6 min read
1/ Given the market situation & extreme fear, you might be tempted to short $TRX due to the $USDD depeg at $0.96-0.97

DON'T DO IT

Pls understand the math first πŸ‘‡πŸš¨ 2/ I don't precisely like their tactics, you know that. The problem is always how they convey information

Currently:

- $USDD is +158% collateralized by $USDC & $USDT
- Adding $BTC @ $20k, Collat. Ratio increases to 197% (it doesn't rly matter given the stablecoin collateral)
Jun 13, 2022 β€’ 13 tweets β€’ 5 min read
1/ Update on $USDD πŸ‘‡

I just woke up and saw that USDD has slightly depegged to $0.97

Now trading at around $0.98 Image 2/ The Curve pool for $USDD - 3CRV is getting unbalanced

$USDD = 82.82%
3CRV = 17.18%

Even the native Sun.io, which has deeper liquidity, is getting more unbalanced:

$USDD = 60.94%
$USDT = 39.06% ImageImage
Jun 12, 2022 β€’ 10 tweets β€’ 4 min read
1/ And it's starting

$USDD is currently just 92% collateralized by the Reserves (even considering $TRX funds) ⚠️

If you subtract $TRX, it turns out collateralization ratio is currently 73%

Also, the 140M $USDT are not really USDT, but jUSDT πŸ‘‡ 2/ That means that the 140M USDT are deposited into JustLend, a lending / borrowing protocol on the $TRX network

They are earning some yield on that, which is understandable

However, we need to consider now that those $140M are subject to smart contract and exploit risk
Jun 11, 2022 β€’ 7 tweets β€’ 3 min read
This Is Huge:

$NEAR becomes the first non-EVM chain with @MetaMask compatibility 🀯

No need to create a NEAR wallet - just use your Metamask and come play with NEAR dapps directly

By @proximityfi & @NEARProtocol

1/7 Some notes:

- The integration is done entirely on the Near side via smart contracts using Ethereum accounts

- The plugin codename is nETH

- This is an early-stage alpha version, so there're still some technicalities

- Contract is already audited

- Unofficial integration

2/7
Jun 11, 2022 β€’ 7 tweets β€’ 2 min read
$ETH / $BTC is currently at spot where the 2018 bear-market relief rally took place

Notes:

- Bear market rallies can be strong: $ETH +120%
- Can last longer than most think: 1 month only up
- Can trick you into thinking we go back bull mode
- Macro structure is key: just a LH If smth like that occurs, don't get fooled

$ETH / $BTC might even go lower without much support though, given the stETH situation

It's backed 1:1 to ETH but liquidations may put some sell pressure on ETH. Then misunderstanding & FUD come, which may trigger a bigger sell off
Jun 5, 2022 β€’ 16 tweets β€’ 9 min read
1/ This is nuts

@usddio @trondaoreserve & @trondao are deceiving the market with $USDD

They are claiming that $USDD is collateralized at over 200% and this information is technically FALSE

I'm gonna explain why πŸ§΅πŸ‘‡ 2/ According to their articles, they claim that collateral ratio is over 200%

Let's check some data at tdr.org/#/

- $USDD supply = 667M
- $TRX burnt = $667M = $USDD supply
- Reserves = $787M
- Collateral ratio = 218%
Apr 23, 2022 β€’ 21 tweets β€’ 8 min read
1/ Is $NEAR really exploding? How is @finance_ref & $REF benefiting from that?

Let's dive into some metrics! | A data threadπŸ’»πŸ§΅

The $NEAR ecosystem is def booming: we just had the biggest influx of money via the Rainbow Bridge 2/ There is literally no money leaving the eco.

That means people want to stay and take advantage of the opportunities
Apr 22, 2022 β€’ 9 tweets β€’ 3 min read
1/ Did you know that you can get 400% APR on $NEAR using @BastionProtocol?

This strategy does not have liquidation risk or impermanent loss.

This is mainly thanks to the liquidity-mining program they just introduced after the launch of $BSTN 2/ You have to provide $NEAR to the vault and then borrow against it. Since rewards for supplying are higher than the borrowing cost you can re-supply your borrowed amount.

If you do several loops, you will end up with high returns. Let's do a zoom on the chart above
Apr 22, 2022 β€’ 5 tweets β€’ 2 min read
1/ Has anyone noticed about @thenearpay?

It's a direct fiat on-ramp on the $NEAR blockchain and allows you to spend crypto worldwide.
Coincidence that they release this when $USN is coming? πŸ‘€

Definitely a good way to increase adoption

Go have a look: nearpay.co 2/ It supports 10+ fiat currencias & 30+ cryptos.

They bring an app and a physical card that allows to:

- Make payments with crypto worldwide
- Get industry events exclusive access
- Get inheritance services
Apr 21, 2022 β€’ 10 tweets β€’ 3 min read
1/ The $NEAR upcoming unlock

Everyone seems to be worried about an unlock that:

- has been happening since Oct '20
- is linear but people claim that is 1% in a day
- is the same typical boring unlock that every project has 2/ In the chart above you can see how the circulating supply will develop over time:

- From April 19th to April 26th, the supply will increase by 0.1 p.p. since the unlock on April 22nd is linear

- The big step occurs from May 10th to May 17th, with an increase of 2.1 p.p.
Apr 19, 2022 β€’ 33 tweets β€’ 7 min read
1/ Why I think that $USN - $NEAR will not be like $UST - $LUNA...

...but that's even more bullish

A thread πŸ§΅πŸ‘‡ 2/ Here I will cover:

- why @NEARProtocol is releasing $USN
- how they'll manage to offer 20-30% APR
- how it will be sustainable over time
- the main beneficiaries