and even more importantly, not clothing advice
1) The Ecosystem, Part 1:
Getting Dressed
By now pretty much everyone knows the story:
The meteoric rise, the sudden crash, the dormant period, and the recovery.
This story starts at the lowest point: right after the migration.
But of course there was negative sentiment then! That was expected.
The brutal part for the project was after the fires were put out--the dev funds returned, the migration successful.
But instead, Sushiswap endured a month of the most negative sentiment I've ever seen a project have.
There was a chat, as the major builders and multisig holders got things off their chest.
"desert Sushiswap or I'll pressure your company to fire you".
It was a perfect storm of coordinated attack, disorganized sadness, and all around frustration.
just as some were thinking of quitting, because they didn't want to take it anymore-
there came an outpouring of solidarity.
Sushiswap wasn't perfect, and in some cases it wasn't even good. But it didn't deserve what it was getting.
"Fuck the h8ters"
SUSHI was up 6x from its nadir.
All of a sudden, it's popular again.
Why? What happened?
Partially people got bored of shitting on Sushi.
But more than even of those, right at the lowest point, Sushiswap made a decision.
https://t.co/tcvJXJTrNY
But at its lowest point, Sushiswap found itself naked.
So it did what you do there: it ignored the noise and got dressed.
'Fuck the h8ters. Just build.'
1) Yield Farming, Sushi, and Collective Imagination:
— SBF (@SBF_Alameda) September 2, 2020
The Emperor Has no Clothes
It rolled out more than almost any other project in DeFi did. Frankly, it left most in the dust.
https://t.co/NAqLxTsK6g
-------------
So what does this have to do with @bonfida?
Serum was never in the doghouse the same way Sushiswap was.
But for all its promise, it started with nothing.
What do you do what there's no good Solana wallet?
You build one.
And then you help others build more.
Those six months are nothing on a cosmic scale, but they feel like an eternity. What have they brought to the ecosystem?
Well, of course, there's the world's only high performance on-chain DEX: https://t.co/16Vp8zPjV4
Because, for a few months, there wasn't a huge marketing barrage or persuasion campaign. In the end actions speak louder than words.
So first you get dressed.
But Bonfida alone as built a shocking amount in less than half a year.
b) Oh, right, also one of the world's only fully on-chain matching engines: https://t.co/VILVwF0IpQ
c) And TradingView Charts!
That's a lot for a few months!
e) Oh also it has on-chain Pools??? https://t.co/xVWs5deto2
g) And an API serving tens of millions of calls per day to CoinGecko, CoinMarketcap, apps, and more! https://t.co/69pje01OMg
So it's an analytics sweet for Serum.
i) ...and a tool to mint your own brand new token! https://t.co/ZI8GeBWvMW
j) plus a bit of free SOL to get started: https://t.co/QQcrI4AKd7
A token management suite for Solana built in a few months. Not bad!
Now it didn't build all of this from scratch--many of these products are composed with primitives that others have been building out on Serum this year.
And that's totally fine.
And on top of that, it's composed, wrapped, and GUI-ified even more.
None of this takes away from the incredibly intricate work from @blocks_go_brr, @armaniferrante, @seb_alameda, and more.
Bonfida has built a ton. And on top of that, it helps each app be its best self.
It's just getting started.
The action starts in 3 hours:
https://t.co/7rUsDYybK8
https://t.co/16Vp8zPjV4
More from Trading
1/ Feels like a good time to tell the story of how I went from broke to a millionaire to broke again in 2017/18 again...
Yesterday was brutal for some people...
Losing life-changing money sucks, losing any money sucks...you can chase the market or you can change your strategy.
2/ The original thread is gone but you can read it here.
https://t.co/cLLNs75rB0
tl;dr
- Traded $32k to $1.2m
- Thought I was a genius
- Made poor investments
- Didn't conserve capital
- Peaked at 150 BTC
- Lost nearly all of it
2 weeks from losing my house + no income. Oops.
3/ I am going to assume you are in it for the money rather than the tech. Yeah, you might Tweet about the amazing blockchaining of cross-border payments and oracles yadda yadda...really, you are in it to make money.
If you are really in it for the tech, go and build something.
4/ Okay, so if you want to make money, trading is super hard, you are trading against:
- Better traders than you
- People who can move markets
- Unknown information
And if you are trading with leverage you might blow up your account with the volatility.
5/ If you are not trading, you are investing. Okay, so what are you investing in?
I made the decision that the crypto with the best opportunity of existing in 10 years is #Bitcoin:
- Solves a genuine problem
- The right tech
- A proven track record
Yesterday was brutal for some people...
Losing life-changing money sucks, losing any money sucks...you can chase the market or you can change your strategy.
2/ The original thread is gone but you can read it here.
https://t.co/cLLNs75rB0
tl;dr
- Traded $32k to $1.2m
- Thought I was a genius
- Made poor investments
- Didn't conserve capital
- Peaked at 150 BTC
- Lost nearly all of it
2 weeks from losing my house + no income. Oops.
3/ I am going to assume you are in it for the money rather than the tech. Yeah, you might Tweet about the amazing blockchaining of cross-border payments and oracles yadda yadda...really, you are in it to make money.
If you are really in it for the tech, go and build something.
4/ Okay, so if you want to make money, trading is super hard, you are trading against:
- Better traders than you
- People who can move markets
- Unknown information
And if you are trading with leverage you might blow up your account with the volatility.
5/ If you are not trading, you are investing. Okay, so what are you investing in?
I made the decision that the crypto with the best opportunity of existing in 10 years is #Bitcoin:
- Solves a genuine problem
- The right tech
- A proven track record
I spent over 100 hours studying the best patterns in Technical Analysis taught to me by @niki_poojary.
Turns out, patterns trading is simple—if you follow these 8 Patterns:
Let's start: ↓
While studying her Twitter profile and with constant talks with her, I found these to be the most important patterns she focuses on always.
Then I wrote a small summary of what each pattern means.
Also attached are some examples from her tweets.
1/ Cup and handle Pattern
Happens during an uptrend.
The cup portion has a U-shaped appearance.
The bears are getting weaker as they are unable to drive the prices below the last low.
Subhasish Pani uses this a lot in stocks to spot bullish trades.
Eg
Eg
Turns out, patterns trading is simple—if you follow these 8 Patterns:
Let's start: ↓
While studying her Twitter profile and with constant talks with her, I found these to be the most important patterns she focuses on always.
Then I wrote a small summary of what each pattern means.
Also attached are some examples from her tweets.
1/ Cup and handle Pattern
Happens during an uptrend.
The cup portion has a U-shaped appearance.
The bears are getting weaker as they are unable to drive the prices below the last low.
Subhasish Pani uses this a lot in stocks to spot bullish trades.
Eg
5: When to play directional:
— Nikita Poojary (@niki_poojary) December 18, 2022
Whenever the index is moving in a single direction, its important to go with the trend.
A few weeks ago when BNF broke out of the cup and handle pattern, all we had to do was sell PEs.
Pls note: weekly TF chart is attached to just show the C&H BO pic.twitter.com/z0wgUzJW8t
Eg
#VOLTAS Another cup & handle pattern for cash positional pic.twitter.com/Jsc99xJfwY
— Nikita Poojary (@niki_poojary) October 23, 2019
You May Also Like
A THREAD ON @SarangSood
Decoded his way of analysis/logics for everyone to easily understand.
Have covered:
1. Analysis of volatility, how to foresee/signs.
2. Workbook
3. When to sell options
4. Diff category of days
5. How movement of option prices tell us what will happen
1. Keeps following volatility super closely.
Makes 7-8 different strategies to give him a sense of what's going on.
Whichever gives highest profit he trades in.
2. Theta falls when market moves.
Falls where market is headed towards not on our original position.
3. If you're an options seller then sell only when volatility is dropping, there is a high probability of you making the right trade and getting profit as a result
He believes in a market operator, if market mover sells volatility Sarang Sir joins him.
4. Theta decay vs Fall in vega
Sell when Vega is falling rather than for theta decay. You won't be trapped and higher probability of making profit.
Decoded his way of analysis/logics for everyone to easily understand.
Have covered:
1. Analysis of volatility, how to foresee/signs.
2. Workbook
3. When to sell options
4. Diff category of days
5. How movement of option prices tell us what will happen
1. Keeps following volatility super closely.
Makes 7-8 different strategies to give him a sense of what's going on.
Whichever gives highest profit he trades in.
I am quite different from your style. I follow the market's volatility very closely. I have mock positions in 7-8 different strategies which allows me to stay connected. Whichever gives best profit is usually the one i trade in.
— Sarang Sood (@SarangSood) August 13, 2019
2. Theta falls when market moves.
Falls where market is headed towards not on our original position.
Anilji most of the time these days Theta only falls when market moves. So the Theta actually falls where market has moved to, not where our position was in the first place. By shifting we can come close to capturing the Theta fall but not always.
— Sarang Sood (@SarangSood) June 24, 2019
3. If you're an options seller then sell only when volatility is dropping, there is a high probability of you making the right trade and getting profit as a result
He believes in a market operator, if market mover sells volatility Sarang Sir joins him.
This week has been great so far. The main aim is to be in the right side of the volatility, rest the market will reward.
— Sarang Sood (@SarangSood) July 3, 2019
4. Theta decay vs Fall in vega
Sell when Vega is falling rather than for theta decay. You won't be trapped and higher probability of making profit.
There is a difference between theta decay & fall in vega. Decay is certain but there is no guaranteed profit as delta moves can increase cost. Fall in vega on the other hand is backed by a powerful force that sells options and gives handsome returns. Our job is to identify them.
— Sarang Sood (@SarangSood) February 12, 2020
