1. Last week, @robbietilton sold this art piece for about 17305$ on @withFND.
I saw a lot of people asking questions on CryptoArt and NFTs (Non-fungible token) to understand how it works. I'll try to explain the basic concepts on this thread ↓
More from Crypto
I'm sure someone else has explained this, but it is just so cool and I want to explain how this works.
So Curve is awesome for swaps between similar assets, right? The fact that they trade very close to each other is a key part about how Curve works, using it's custom swap invariant function.
That's step 1
Step 2 is that Synthetix is awesome for creating "synthetic assets" (aka synths) which are assets that trade like other assets, that are backed by another, entirely different asset. Basically, a plastic banana that I can buy and sell like a real banana.
Synthetix has a feature that lets you swap between any two synths with zero slippage and a flat fee. That's because it is simply converting the sythentic asset into another synthetic asset, the backing for the synth doesn't change it just uses a different price oracle now.
This is important. Absolutely no slippage, at any size
Swap $1m sUSD for $1m sBTC? flat 0.3% fee
Swap $10m sUSD for $10m sBTC? flat 0.3% fee
swap $100m sUSD for $100m sBTC? Well, there isn't that many synths in Curve, yet but you get the point. The only limit is the pool depth
— Andre Cronje (@AndreCronjeTech) January 15, 2021
So Curve is awesome for swaps between similar assets, right? The fact that they trade very close to each other is a key part about how Curve works, using it's custom swap invariant function.
That's step 1
Step 2 is that Synthetix is awesome for creating "synthetic assets" (aka synths) which are assets that trade like other assets, that are backed by another, entirely different asset. Basically, a plastic banana that I can buy and sell like a real banana.
Synthetix has a feature that lets you swap between any two synths with zero slippage and a flat fee. That's because it is simply converting the sythentic asset into another synthetic asset, the backing for the synth doesn't change it just uses a different price oracle now.
This is important. Absolutely no slippage, at any size
Swap $1m sUSD for $1m sBTC? flat 0.3% fee
Swap $10m sUSD for $10m sBTC? flat 0.3% fee
swap $100m sUSD for $100m sBTC? Well, there isn't that many synths in Curve, yet but you get the point. The only limit is the pool depth
A primer on how to use @coingecko for your crypto data/research/trading needs.
Share it with a friend who needs it!
1/ Getting started with crypto and want to check prices/projects? https://t.co/LFnk4vukxj has info on just about every crypto you'll need :)
2/ Search over 6000+ cryptocurrencies available on the market. You can see what's trending in the space as well.
Researching by categories? Filter (left side) -> Select categories -> DeFi, DOT ecosystem, Exchange-based tokens, NFTs - anything!
3/ Lets say you're looking at #Bitcoin https://t.co/g205lj03pG
At a glance you get:
- Price
- Mkt Capitalization (valuation)
- Circulating/Total supply
- 24h trading volume
- Links to websites, social media, block explorers
- Calculator
Next - check valuation?
4/ Market cap is used to rank coins, and we'll show you how its calculated - Hover over Circulating Supply (?) for breakdown.
Note: used @chainlink as example here - https://t.co/Jc46fe79Ag
While MC is important also consider product fit, narrative, team, community etc.
5/ If you're trading on AMMs like @Uniswap or @SushiSwap, you can copy the contract address directly to your clipboard.
Using @metamask_io? Add the token directly so it shows as one of the "Assets" that you own in the wallet.
See: https://t.co/94XihMf5oz
Share it with a friend who needs it!
1/ Getting started with crypto and want to check prices/projects? https://t.co/LFnk4vukxj has info on just about every crypto you'll need :)
2/ Search over 6000+ cryptocurrencies available on the market. You can see what's trending in the space as well.
Researching by categories? Filter (left side) -> Select categories -> DeFi, DOT ecosystem, Exchange-based tokens, NFTs - anything!
3/ Lets say you're looking at #Bitcoin https://t.co/g205lj03pG
At a glance you get:
- Price
- Mkt Capitalization (valuation)
- Circulating/Total supply
- 24h trading volume
- Links to websites, social media, block explorers
- Calculator
Next - check valuation?
4/ Market cap is used to rank coins, and we'll show you how its calculated - Hover over Circulating Supply (?) for breakdown.
Note: used @chainlink as example here - https://t.co/Jc46fe79Ag
While MC is important also consider product fit, narrative, team, community etc.
5/ If you're trading on AMMs like @Uniswap or @SushiSwap, you can copy the contract address directly to your clipboard.
Using @metamask_io? Add the token directly so it shows as one of the "Assets" that you own in the wallet.
See: https://t.co/94XihMf5oz
Introducing an effortless way to add tokens to your @metamask_io wallet \U0001f4e5
— CoinGecko (@coingecko) February 8, 2021
Skip the hassle of copying/pasting contract addresses to your wallet. Add an asset and it'll appear in your wallet with just a click - tap the \U0001f98a and try it out for yourself! pic.twitter.com/u26BA29ubs
1/ Welcome to #DeFi Wednesday.
Let's talk about how interest-bearing cash on a blockchain is going to revolutionise boring corporate treasury management that concerns every company is is a larger business than all crypto trading in the world.
Enter the thread
👇👇👇
2/ Blockchain community is often seen as toxic maxis and redditors who shill other their weekly favourite shitcoin in the hope of getting Lambo.
Sometimes we also do things that progress humanity towards the better future and interest-bearing cash is one of those things.
3/ Less chad and more things that actually matter:
My incomplete theory of interest-bearing cash is also available also as a blog post:
https://t.co/uiG0fZiVyu
It is 15 pages. Pick your slow poison or die fast by continue reading here.
4/ First time in the history we have an ability to create interest-bearing cash-like instruments.
Interest-bearing cash ticks up dollar (euro) balance real-time in your wallet.
Here is a demonstration using @aaveaave aDAI, based on @makerdao DAI, and @TrustWalletApp
5/ Interest-bearing cash is not like your bank's saving account. Your money in a bank is not yours, but bank's. There are some flaws in the current banking system causing a headache for Chief Financial Officers (CFOs)
Let's talk about how interest-bearing cash on a blockchain is going to revolutionise boring corporate treasury management that concerns every company is is a larger business than all crypto trading in the world.
Enter the thread
👇👇👇
2/ Blockchain community is often seen as toxic maxis and redditors who shill other their weekly favourite shitcoin in the hope of getting Lambo.
Sometimes we also do things that progress humanity towards the better future and interest-bearing cash is one of those things.
3/ Less chad and more things that actually matter:
My incomplete theory of interest-bearing cash is also available also as a blog post:
https://t.co/uiG0fZiVyu
It is 15 pages. Pick your slow poison or die fast by continue reading here.
4/ First time in the history we have an ability to create interest-bearing cash-like instruments.
Interest-bearing cash ticks up dollar (euro) balance real-time in your wallet.
Here is a demonstration using @aaveaave aDAI, based on @makerdao DAI, and @TrustWalletApp
5/ Interest-bearing cash is not like your bank's saving account. Your money in a bank is not yours, but bank's. There are some flaws in the current banking system causing a headache for Chief Financial Officers (CFOs)