The Gambling industry in the US is worth more than $261 billion

One of the most profitable web3 sectors is Gambling

5 GambleFi/ Gambling tokens I'm watching for TGE szn 👇


Remember the house always wins in the long run?

This is what makes GambleFi projects money printing machines

Before diving in, I'd kindly ask for you to engage with the first tweet - it helps a lot and encourages me to keep bringing free educational content to you :)


These projects utilize smart contracts to manage and execute bets, calculate winnings, and distribute them.

This removes the need for trust, as everything is implemented on a blockchain.


1️⃣ WINR Protocol

WINR offers a liquidity pool (WLP)  and infrastructure for building games and casinos using the WINR Engine.

Projects built on WINR utilize the deep liquidity and verifiable randomness that it provides.


WINR is taking this further with the expected launch of the WINR Chain, which will be a dedicated blockchain for optimized gambling for both developers and users.

It will feature low gas fees, on-chain random number generation, lightning-fast transactions, and AA


There are currently 3 products utilizing WINR:

• JustBet: Frontend for casino games that has been live since WINR launched.
• Degens Bet: Perps trading platform that offers up to 100x leverage on ETH & BTC.
• 0xSportsbets: Sports betting platform


Degens bet is less than a month old but has seen volume of almost  $150m

Justbet has amassed a total volume of $65m since launch with over 4m bets placed


This piece by @TheDeFISaint covers WINR pretty well p👇

https://twitter.com/TheDeFISaint/status/1721811676150772222


2️⃣ SX Bet

Another project with a dedicated blockchain optimized for betting is @SX_Bet, which offers the infrastructure for sports betting.

However, unlike other sports betting products that use a sportsbook, SX Bet uses a p2p model where users can offer and take bets.


Every straight bet on SX Bet has a 2.00% fee on profits, and parlay bets have a 5% fee. 100% of this fees goes to token holders as revenue.

Since the beginning of the year, SX has generated a cumulative revenue of almost 950k USD.


Although users earn additional SX tokens for winning bets, the revenue generated is more than the token incentive so the protocol has been profitable.


While SX Bet is built on its own blockchain, @BetSwirl employs  a totally different business model.

The protocol is currently deployed on BSC, Polygon, Avalanche, Ethereum, and Arbitrum.


It offers casino games, PvP games like Russian roulette, and player vs. house games like dice and roulette.

The platform also offers sports betting powered by the Azuro protocol.

Bitswirl has also been very successful, with a cumulative revenue of over 600k YTD


The protocol is very profitable with earning outpacing token incentives.

At a 3m FDV, it has an impressive price-to-earnings ratio of 19x.


3️⃣ Azuro

Azuro is pretty underrated. It is similar to WINR, offering infrastructure and deep liquidity to facilitate on-chain betting.

Anyone can launch a betting frontend on the Azuro protocol and become an LP to earn revenue from usage.


Azuro takes 60% of the revenue that the front end generates.

The Azuro protocol takes care of things like odds and payouts.

Users can interact with the protocol through these frontends.


They include:

→ Frontend gambling dApps
-Bookmakerxyz
-Betswirl
-DexWin
-JuicyBet
-Normies
-Gamblr

→Telegram Bots
- HausBot
-BookieBot
-BoxBet
-CoWager


Their token has not been launched yet, but the airdrop has been publicly announced.

There are many ways to accumulate Azuro Score points:



- Interact with Azuro's Smart Contracts on any frontend
- LP to Azuro's gambling layer for front-ends to use.
- Place bets

https://twitter.com/azuroprotocol/status/1699471273967911031


4️⃣ Rollbit

And now we shift our focus to the middle point between Web2 and Web3 betting: crypto casinos.

Crypto casinos don't use smart contracts, they simply use crypto for   betting. The obvious market leader in this sector is Rollbit.


Rollbit is a revenue-generating machine with its 3 products:

• Casino
• Sportsbook
• 1000x leverage futures

In the last 30 days, these products have generated a revenue of over $44 million.


A percentage of revenue is used to buy back and burn RLB:

• 10% from casino
• 20% from sportsbook
• 30% from leverage futures

Over 37% of the RLB supply being burned.

Rollbit is pushing to mainstream users by partnering with SSC Napoli, a big soccer team in Italy


5️⃣ Shuffle

Perhaps the most hyped-up GambleFi project now, as the main contender to Rollbit.

Shuffle features an impressive array of casino games and slots, as well as sports betting.

They recently announced an airdrop of $SHFL

https://twitter.com/shufflecom/status/1718986928471900553?s=20


It's still pretty early with just under 11K unique users.


One thing that is common with all of these mentioned products is that they have been profitable.

It appears that the only niche with strong revenue fundamentals are Gambling tokens.


As for unlaunched tokens, I yeeted some money to farm airdrop bags - mentally wrote it off.

This is NFA, you're most likely to take an L against the house. But in the name of airdrop farming, its a tradeoff I'm willing to make.

Any degen gamblooors here
@wacy_time1
@0x_gremlin
@0xFinish
@0xAndrewMoh
@rektdiomedes
@DeFiMinty
@Slappjakke
@Axel_bitblaze69
@ardizor
@arndxt_xo
@poopmandefi
@TheDeFISaint
@stacy_muur
@flowslike

The Lucrative World of GambleFi

A killer thread without a killer hook, will FAIL.

A killer hook without killer thumbnails, will also FAIL.

Here's how to leverage ChatGPT's DALL-E3 killer thumbnails

🧵👇


I've crafted these templates for inspiration, sharing them entirely for free.

If you find value, a simple Like or RT on the first tweet above would mean the world to me.

It takes a sec, but helps immensely.

Thank you for your support and let’s dive right into it 🏄‍♂️


1️⃣ Customizable Templates

For some odd reason, crypto twitter lads have a thing for space imagery, with circular icons of projects.

The "wen moon" movement perhaps.


Things to note for the templates I'm about to give you.
• Text generation is still messed up
• The placeholders denoted by "[ ]", whatever text inside can be customized to your needs.
• You might get magazine mockups, which you can simply crop out

Some appetizers:


Template 1 input:

Create an abstract and futuristic digital art composition with [central element/theme] as the focal point. Overlay it with a translucent circle containing key information points connected by lines. Include a title at the top, '[Title]', and use a ....


.... mix of bold and regular fonts. Highlight statistics or metrics using colored boxes, such as '[Metric1]', '[Metric2]'. Incorporate a pastel and muted color palette with hints of [specific color(s)]. Ensure the overall design is modern, sleek, and visually balanced.


Example:

*Prompt used can be found in the ALT text


Template 2 input:

Design a futuristic cover artwork in 9:16 aspect ratio, fill the entire 9:16 space, on the theme of '[specific technology or topic]'. Include a cosmic background with [central celestial object, e.g., 'planet', 'moon'] and an astronaut observing it....


Feature a 3D wireframe globe on the top left. Place the main title 'LOW RISK [TOPIC]' in bold, large letters at the upper center. Beneath it, add 'PART [number]', in a slightly smaller font. On the right, include a vertical design element with text '[abbreviation or tag]...


... At the bottom, showcase icons representing various [technologies/services] connected by lines. Ensure the color palette is a mix of dark space shades with contrasting bright icons and text. Finally, add an author or creator tag 'by [username]' at the bottom left.


Template 3 inputs:

Create a 9:16 futuristic digital artwork centered on the theme of '[specific technology or topic, e.g., 'Blockchain Evolution']'. Set the scene in a serene cosmic environment with a dominant structure, such as a '[specific structure, e.g., 'dome', ...


...'spacecraft']', partially submerged in calm waters. The structure should bear a distinct symbol, like '[specific symbol or design]'. Incorporate dotted patterns or digital elements on the sides, adding a retro-futuristic touch. At the top, place the title '[Title]' ...


...in bold letters, complemented by arrow patterns or similar designs. Integrate elements like old wooden docks or mysterious items in the water to add depth and intrigue. Use a color palette that seamlessly blends deep space blues with contrasting bright tones.


2️⃣ Transform Inspirations into Templates

ChatGPT4 introduces image-reading capabilities that you can use to templatize iterations.

I'm going to teach you how to fish.

For this, I'm going to use some of @stacy_muur's graphics as inspiration:


Template:

I want you to templatize this image for a DALLE prompt. I want a 9:16 image that fills up the entire 9:16 and is the artwork itself, not a magazine mockup within the 9:16 space. I want you to do the same and use "[ ]" to describe parameters i can customize.


e.g. I used the prompt on this thumbnail from @stacy_muur

Leveraging ChatGPT's DALL-E3 for Killer Thumbnails

If you had $10K in stablecoins, where would you go to farm?

Sure... you can get 2.4% on Convex's 3crv pool..

But there's another method I take advantage of to get up to 18% on stables.

Here's how to do it with @KyberNetwork


Curve/convex 3crv pools offer ~2.4% now

Unless you stake stable-3CRV pair, and factor in veCRV boosting + CVX APR, you rarely get stable pairs above >10% in current markets (inc. native token incentives)

And that process is too difficult.

So what's an easy way?


Playing chain launches is the easiest way to maximize APR on stable pairs.

Usually when a new chain launches, they scramble to onboard projects to attract TVL, and its a win-win for the chain and the project.


The chain gets TVL and reputable projects, attracting users.

DEXes sometimes get incentives from chains which they use to incentivize pools, and DEXes sometimes offer their own token incentives to attract users to gain market share on the new chain.


KyberSwap is the best place to earn juicy yields when a new chain launches.

They are almost always the first DEX + Aggregator to launch on a new chain.

And with that comes yields of easily >10% including KNC incentives.


2 Recent chain launches that KyberSwap launched on are Linea and Scroll.

Here is Scroll's elastic pool for stable pairs 👇

USDC-USDT: Total APR of 15.92% (Pool APR + KNC Farm APR)


Here is Linea's elastic pool for stable pairs 👇

USDC-USDT: Total APR of 16.27% (Pool APR + KNC Farm APR)


In fact, even if you don't chase chain launches, their APR on stable pairs are pretty impressive in itself on already established chains (of course including KNC incentives too).

Arbitrum's USDT-USDC.e pool offers 13.24% APR, 6.64% alone comes from the pool trading fees.


APR on pools like sUSD-USDC.e on Optimism is up to 67.52% (52.38% coming from pool trading itself) which is impressive for a stable pool.


Risk Considerations:
• The price of KNC pumped ~10% in the past 7d, which could also influence your APR on the stable pairs. It's important to check the APR weightage too to find more sustainable stable pool yields.

Maximizing APR on Stable Pairs

Aptos aimed for 160K TPS, hit 10.

TON's target? A mammoth 1M+ TPS.

With Telegram's 700M user arsenal, is TON the unsung hero of DeFi or just another overpromise?

Dive into the narrative of TON's bold aspiration 👇🧵


A year ago, I made a super in-depth thread diving into Telegram's push to become a web3 superapp 👇

1 year later, let's see where they stand

https://twitter.com/0xsurferboy/status/1602317403018231808


1️⃣ Introduction to TON's Superapp Vision

TON's inherent advantage lies in the massive existing user base of Telegram, boasting 700 million Monthly Active Users.

This provides a ripe ground for fostering crypto adoption on a large scale.


It makes the transition to a blockchain-based ecosystem smoother and more intuitive for users.

Their goal bridging 30% of MAU on-chain translates to 210M TON users

(For comparison: Theres 15M active users across the whole web3 ecosystem)


2️⃣ Value Proposition
Telegram is already largely used for communications particularly among web3 users.

It becoming a superapp with DeFi project integrations and a native blockchain built into it presents a unique value proposition.


TG Bots, though initially thought to be a short-lived narrative or borderline memecoin, has proven PMF.

Unibot, Maestrobot, Bananagun, at one point hitting over 6 figs in 24h fees, all offering easy DEX trading from within a Telegram chat interface.


To say that using DeFi from mobile, from within a Telegram chat, in a few clicks of a button, has traction, is an understatement.


3️⃣ The L1 Conundrum

TON is an L1... like many L1s, TPS is a major flex.

Many L1s have promised sky-high TPS to handle large user bases.

However, reality has often fallen short, with delivered TPS dropping as much as 99% below claims.

https://twitter.com/0xsurferboy/status/1715222915053215879


With the upcoming public performance test on October 31, 2023, TON aims to showcase its capability to handle a high TPS, which is crucial for scaling up and accommodating a large user base.

Trackable here: https://live.ton.org?=awtb

https://twitter.com/ton_blockchain/status/1716751579590644060


4️⃣ Ecosystem Overview: An Update

TON is building towards a comprehensive ecosystem with TON Payments, TON Storage, and TON Proxy, each serving as a pillar to support Telegram's evolution into a blockchain-powered superapp.


A lot of new dApps have been added since last year when I covered TON:

https://twitter.com/0xsurferboy/status/1602317487327965184


Of course, the biggest change is the TVL, which currently sits just under $10M.

For a Telegram native chain and Telegram native dApps, $10M is not too shabby


If you're keen to learn more about the unique offerings that TON has, such as:

- Buying/Selling TG usernames
- Minting anon phone numbers

You can read from here onwards:

https://twitter.com/0xsurferboy/status/1602317508551188480

Some TON ecosystem chads you must follow:
@takoy_sasha
@0xconst
@0xRunchen
@0xFinish
@wacy_time1
@rogozov
@ton_blockchain
@nobrainflip
@CryptoGideon_
@stacy_muur
@kem1ks
@jbfxdotme
@cryptosanthoshK
@defidennis
@AnthonyTsivarev

TON: Unleashing the Potential of DeFi

Data is the new gold.

Safeguarding it is the quest of the modern era.

Traditional fortresses of data like Google and Amazon have been the custodians, but their centralized nature is a double-edged sword.

Here's how BNB Greenfield is redefining decentralized data

[0/29]🧵


Decentralized storage distributes data across multiple devices, enhancing security and eliminating single points of failure - something centralized systems are incapable of.

For more information on types of data storage check out the thread  below:

https://twitter.com/0xsurferboy/status/1625827333671362560


Pioneers like Filecoin, Arweave, and BNB Greenfield spearhead this decentralized approach, emphasizing user privacy and control strongly.

In today's thread, we'll delve into the intricacies of how these innovative platforms operate.


Greenfield operates a dual-layer system: a storage-focused blockchain and "storage providers."

The Blockchain manages user ledgers and stores storage metadata.

Meanwhile, Storage Provider manages user access and handles user data upload and download requests off-chain


Greenfield Blockchain uses Tendermint consensus and Proof-of-Stake for security.

BNB is the native gas and payment token. It is also used for governance and can be bridged directly from BSC Greenfield, ensuring smooth cross-chain communication and unchanged BNB circulation


To store data, BNB Greenfield makes use of

1️⃣ Object
The primary storage unit, contains data and metadata. It's uniquely named within a bucket and can hold various data types.

2️⃣ Bucket
Container for objects. Each has a globally unique name.


3️⃣ Group
A set of accounts with shared permissions.

All data resources, such as objects, buckets, payment accounts, and groups, require specific permissions to be accessed.


ECONOMIC MODEL

Apart from transaction fees, users must pay storage and download quota fees to Storage Providers (SPs) via steam payment.

Users must prelock a certain amount for these storage service fees before using the service.


Arweave is a decentralized storage platform designed to offer permanent, immutable data storage.

It utilizes a blockchain-based structure that ensures once data is stored on the network, it cannot be modified or deleted, making it "perma-web" or permanent web storage


How does Arweave work?

Unlike traditional blockchains where only headers are connected, Arweave uses a 'blockweave'.

In this structure, entire blocks are interconnected, which aids in more efficient data access.



Proof of Access: Arweave implements a consensus mechanism called "Proof of Access" (PoA).

Instead of relying solely on proof of work or proof of stake, PoA ensures that the miners can prove they have access to old data on the blockweave, encouraging data permanence.


Endowment Mechanism: To ensure that data remains stored forever, Arweave uses an endowment mechanism.

When a user pays to store data, the payment is invested in a way that the returns cover the storage costs for decades, ensuring the data's long-term availability.


Data Storage: Users can store documents, web applications, or any digital content on Arweave.

Given its permanent nature, the platform is especially beneficial for content that users wish to preserve indefinitely, like historical records or educational materials.


Economic Model of Arweave

Arweave's economic model is distinct and crafted to support its permanent, immutable data storage mission.

Here's an overview of its primary economic components:


• Arweave uses an endowment system to finance the long-term storage of data. When users store data on Arweave, they pay a one-time fee.

Fee is paid in $AR token


• This fee is calculated to cover the storage costs of the data for several decades. It's based on the principle that storage costs will decrease over time as technology advances.

• Storage prices on Arweave are not fixed but are determined by a decentralized market.


• Miners can set their prices for storage, leading to competitive pricing dynamics based on supply and demand.

Arweave has seen an average data upload of 400gb per week  in the past few months.


While Arweave focuses on permanent data storage, Filecoin operates under a different model.

Filecoin is a decentralized storage network that allows users to rent out their storage space and retrieve data securely in a trustless environment.


Filecoin acts as a marketplace for data storage, connecting users who need to store data (clients) with those who have excess storage space (miners).

Clients make "storage deals" with miners to agree on the terms (price, duration, etc.) for storing their data.


To ensure data integrity and storage compliance, Filecoin utilizes advanced cryptographic proofs:


Proof-of-Replication (PoRep): This ensures that a miner has correctly stored a unique copy of the client's data, proving that the data has been replicated to its own dedicated physical storage.


Proof-of-Spacetime (PoSt): This ensures that the miner continues to store the client's data over time.

Miners periodically provide these proofs to demonstrate that they're still storing the client's data.


In addition to storing data, miners can also earn FIL by retrieving and delivering data to clients quickly.

This fosters a competitive market where miners strive to provide fast data retrieval.


Filecoin's virtual machine enables smart contracts to leverage Filecoin's storage and retrieval abilities with computational logic conditions, unlocking the programmability of the network.


In the  past year, Filecoin has garnered $28m in cumulative fees signaling market interest in storage


Benefits of Decentralized Storage Networks for Developers:

1. Robust Security:
Data is distributed, minimizing breach risks and eliminating single points of failure.

2. Guaranteed Data Integrity:
Data remains untouched and authentic, preventing tampering.


3. Censorship Resistance:

4. High Redundancy: Data copies spread across the network ensure its availability and durability


Overall, the multifaceted benefits of decentralized storage networks, ranging from heightened security to potential monetization, make them a forward-thinking choice for developers aiming for innovation and resilience.

@wacy_time1 recently did a thread on BNB Greenfield too, which I'd highly recommend checking out here:

https://twitter.com/wacy_time1/status/1715356570719260749


And if you want to use it yourself, @0x_gremlin provides a walkthrough on how to use Greenfield:

https://twitter.com/0x_gremlin/status/1715327389042110617

h/t Frens whom I took inspiration for this Greenfield thread

@wacy_time1
@0x_gremlin
@Abrahamchase09
@0xFinish
@bloomstarbms
@atoms_res
@0xAndrewMoh

Chads who may be interested
@rektdiomedes
@DeFiMinty
@Slappjakke
@Axel_bitblaze69
@ardizor
@arndxt_xo
@poopmandefi
@Thedefisaint

Decentralized Data: Redefining Storage

Tangible's USDR's depeg has sounded the alarm on the Sustainability of RWA-backed stablecoins.

Are sDAI and sFRAX also on Shaky Ground?

I Delved Deep into the 3 Most Prominent ones.

The Urgent Findings You Must Know

👇


Now, let's discuss the intriguing case of USDR.

Initially, it sought to back a liquid stablecoin with illiquid assets, particularly real estate.

The idea was enticing: offer a stablecoin yield backed by consistent real estate returns.

But things didn't go as planned...


The issue?

Illiquid assets.

Real estate can't be easily liquidated.

When the DAI available for redemptions went to zero, it led to panic selling to other stables. evenbtually this led to USDR depegging.


It revealed a core challenge:

How do you effectively back a liquid digital asset with yields from illiquid physical assets?

The risk model just wasn't sustainable.


In response to the depeg, Tangible DAO decided to shift its focus from solely backing its coin with real estate to creating tokenized baskets of real estate.

With their immediate focus on making the victims of the depeg whole, it remains to be seen if they can bounce back.


@MakerDAO is a collateralized debt position (CDP) protocol through which users can borrow the native stablecoin $DAI against collateral whitelisted by the MKR token holders.


Collateral includes ETH, stablecoins, and RWA.

Maker's exploration into RWA has proved to be successful so far, with the revenue they have generated being one of the reasons for the increase in the DAI savings rate.


The DAI Savings Rate (DSR) is the interest rate set by MakerDAO's governance, which provides a low-risk, passive income opportunity for sDAI holders.

Locking DAI in the DSR contract gives sDAI.

The interest paid out is sourced from the revenue  Maker DAO generates.


Now, let's look at the biggest RWAs backing DAI.

• BlockTower Andromeda

U.S. Treasuries are evenly distributed across maturities ranging from zero to six months.

DAI debt is collateralized 1:1 with U.S. Treasuries.


• Monetalis Clydesdale

Different blends of short-term bonds from ultra-short (<1 year) to short (1-3 years) maturities.

Mainly invested in U.S. Treasuries but some exposure to corporate bonds.


• Coinbase Custody

USDC held with Coinbase Custody.

Each USDC is backed by 1 dollar worth of cash and short-dated U.S treasuries.

USDC is redeemable for dollars.


In conclusion, DAI is a stablecoin backed by highly liquid assets, including U.S. T-Bills and ETH.

These assets ensure DAI's solvency, quick redemptions, and stability,  thereby reinforcing its safety.


Frax Finance in their V3 has recently introduced their RWA strategy with sFRAX.

In partnership with FinresPBC, it provides stakers with exposure to yields from on-chain assets like T-Bills, reverse repos, and USD deposited at federal banks.


Frax uses an IORB oracle to monitor the Federal Reserve's Interest on Reserve Balances (IORB) rate and relay this rate to their smart contracts.

The AMO then transforms the treasury into these RWAs through their partner, FinresPBC.


The objective is to align the staking rate for sFRAX as closely with the IORB rate as possible.

The yield is transferred back to the DAO every week and is then distributed to stakers.

Several key features separate Frax from other stablecoins:


• When the collateral ratio of Frax reaches 100%, the price would be pegged to $1 via Chainlink oracles.

• Frax cannot be redeemed for other assets.

• Frax smart contracts would be fully on-chain and decisions would be implemented through the Gov module.


Frax is taking it up a notch, and provided the AMO works well, which it has been doing so far, then sFRAX should be sustainable in the long run.

The demand for sFRAX has been evident thus far.

Getting rates close  to the IORB on-chain is a major demand driver for sFRAX


@MountainUSDM launched last month.

Their stablecoin USDM is backed by T-bills held in USDM reserves.

USDM Reserves, which consist of short-term T-bills <3 months, are held in the name of the Company with regulated financial institutions in bankruptcy-remote accounts.


Mountain Protocol is a registered company, and users with an approved account can buy/redeem USDM directly from the protocol at the price of $1.


PROS
• Advanced security features including 2FA, suspicious activity tracking.

• Although USDM can be purchased with USDC, the company does not keep USDC in its reserves hence they are not exposed to any risks in $USDC including depegs.


• Built for enterprises.

• Although Mountain Protocol promotes self-custody, users can also choose to give the protocol custody of the asset.


CONS
• High trust assumptions for the Mountain Company to redeem assets even when the price might be different on-chain

• Instant redemptions might not be available at all times as the company does not keep $USDC and is dependent on banks, which do not open on weekends.


Closing Thoughts:

The trend towards T-bill-backed stablecoins is noticeable, offering a 'risk-free' rate on-chain.

Yet, regulatory scrutiny looms, with the SEC eyeing the crypto space.

The success of these projects still hinges on regulations & macro.


Some chad frens of mine worth following to learn about RWAs too ↓

@Hercules_Defi
@0xTindorr
@DefiIgnas
@TheDeFISaint
@eli5_defi
@jake_pahor
@tomwanhh
@ViktorDefi
@definapkin
@0xAndrewMoh

... and that is the end of my thread on Tangible's USDR collapse🫡

The Sustainability of RWA-backed Stablecoins

1) What Happened

Ever seen a RUG to 0 of this scale?

Yea... that's my followers chart - My account was suspended at 24.1K.

Here's my thoughts on the very valid use case of Web3 Social

If You're reading this on Twitter, it already concerns YOU.

🧵👇


As much as I want to provide insight into what happened and actionable steps for you to prevent your account from meeting the same fate, I didn't get much info from Twitter...

Apart from a User Report which single-handedly nuked my account on Monday.


What I can say is that YOU are at risk.

Not your keys, not your account,

and you CAN'T do anything about it - Welcome to Web2 Social.


The drawbacks of centralized social media have become glaringly obvious.

A few days ago, this account was suspended, sending me straight to 0.

Followers. Gone

Engagement. Gone

Social Capital. Gone


The suspension of my Twitter account was a stark wake-up call, highlighting the fragility of building a social presence on centralized platforms.

The inherent issues with centralized control highlight the pressing need and valid use case for decentralized social.


Web3 social graphs are the spine of decentralized social networks, epitomized by platforms like @LensProtocol and @farcaster_xyz

Web3 social graphs enable a decentralized database storing info about individuals and their relationships, ensuring user control over data


So what are social graphs?

A social graph is like a digital map of our social interactions and relationships.

It maps out who knows who, who interacts with who, and in what way.


The Quagmire of Web2 Social

1. Ownership Void: Platforms own your connections, interactions, and essentially, your digital identity. You're at the mercy of the platform.

Got banned wrongfully?

Lost your email and password?

Your handle got hijacked by Twitter?

Too bad


2. Monetization Drought: There's a stark absence of direct incentivization for content creators, an aspect that could have otherwise spurred a flourishing ecosystem of creators.

Imagine how many full-time CT analysooors and researchooors there would be if they got paid.


But this opens another door for mercenary players which I'll not dive deep into.

Just think about the advent of FriendTech and the whole bunch of FT forks on other chains.


The monetization model of FT aligns more with monetizing a user's influence and network rather than their content.

This raises the question of whether the model incentivizes genuine content creation or merely capitalizes on existing popularity and network strength.


3. Isolated Realms: Interoperability among platforms like Twitter or IG is nearly non-existent (ie siloed digital identities)

There may be wormholes to connect them (e.g. Linking IG in TikTok), but at the core, the company controls your experience by owning your graph.


4. Censorship Shadows: Corporations' commercial and political interests often drive the narrative, leading to suppression or outright censorship of content that challenges these interests.

Remember how Twitter banned Mastodon?

Deboosted Substack links?

Banned ElonJet?

https://twitter.com/ElonJetNextDay/status/1620943176730017793?s=20&t=df9dqoPa005ipoBuGIk7JQ


If my social graph was decentralized, my account suspension would've gone a lot differently:

In a decentralized framework, I would own and control my data.

The network of my connections, followers, and interactions - would remain intact and accessible.


I could seamlessly migrate to another platform or service within the decentralized ecosystem without losing my follower base or previous interactions.

This level of control and portability mitigates the risks associated with platform suspensions

Keeps ur account SAFU


💡 CLOSING THOUGHTS

The tribulations I faced with my account suspension on Twitter unveiled the stark limitations of Web2 social realms, where control is relinquished to the platform, not me, the user.

An accusatory ban, rightfully or wrongfully, sends you straight to 0.


Decentralized social networks like those enabled by Lens and Farcaster, beckons a promising horizon where ownership and control are the norm.

This model ensures data privacy and also shields users from arbitrary account bans, creating a truly user-driven social network

Twitter Account Suspension: Insights and Risks

In a bull market, you want to find the 2x-ers

You don't want your portfolio to go BALD

How do you know HarryPotterObamaSonic10Inu is safe?

Here's how I use @DeDotFi to avoid LOSING generational wealth

🧵👇


In just 2 simple steps, every major flaw in $BALD's token contract was revealed.

This is a big enough red flag to tell you to AVOID it.


The tool in question?

DeFi Scanner, @DeDotFi

Their core product is an "antivirus" that scans Token Contracts to point out red flags.


Let's take a more trendy memecoin

HarryPotterObamaSonic10Inu ($BITCOIN)

1️⃣ Step One
 - Find the token chart/contract on Dexscreener, and copy it.

->0x72e4f9F808C49A2a61dE9C5896298920Dc4EEEa9


*As simple as Step 1 sounded, a lot of people fall for honeypots. If your friends are going around telling you to buy this new "harrypotter coin", or "hpos10i", "hpos", "Bitcoin", how sure are you that you're looking at the right one?


2️⃣ Step Two
- Go to @DeDotFi Scanner and paste the contract address


If you somehow pasted the wrong hpos10i ($BITCAIN), the CA will instantly be flagged:


But what if you approved a sus contract?

They have a Shield tool which you can connect your wallet and it lists out every contract that you have approved in the past, categorizing it as:
• High Risk
• Medium Risk
• Low Risk
• Informational

e.g.


They also recently built a Social element called the De Fi Social Profile.

A lot of the elements are still under development.

But it seems to have a similar DeBank-ey layout that allows you to connect more wallets.

This is a great value-add to their antivirus tools


now, I'm no airdrop farmoor and as much as I hate the airdrop click-baity fiasco on CT, @DeDotFi has token distributions to early adopters which signing up for the social profile would contribute to.


Here's my referral link (which you'll need to have one to join):

(I HAVE A LIMITED NUMBER OF INVITES, so be quick)

https://de.fi/claim/?invite=DEFI-7fb34ae2

Remember to drop me a follow there too :)

Always use protection
@0xFinish
@DefiIgnas
@crypto_linn
@crypthoem
@defi_mochi
@OvrCldJonny
@0xTindorr
@belizardd
@francescoweb3
@0xnocta
@TheDeFISaint
@Hercules_Defi
@TheDeFinvestor
@toffee248
@Axel_bitblaze69
@splinter0n
@Moomsxxx
@stacy_muur
@thecalcguy
@BobtheBuildooor

Safeguarding Wealth with DeDotFi

Friendtech is the leading Social Fi platform whose success has given rise to a barrage of forks.

However as the market has shown us time and time again, it is wise to stick with the first mover.

And evidently, other projects have been building on top of FT.



Let's explore the Friendtech Ecosystem 👇

If you faded the whole narrative or have been living under a rock, here's a thread about FT to get you up to speed:


https://twitter.com/nftimm_sol/status/1689995006478536704?s=20


Of all the forks of Friendtech, the Friendtech ecosystem is flourishing with new products being built atop of the social platform.

Here are a few:



1️⃣ Frengate

@frengate is a suite of tools to customize and streamline the frendtech experience for both creators and holders

The tools being developed include:

Authenticator: with this tool, creators can link their friendtech rooms to telegram and discord communities.


With this creators can control the minimum amount of keys needed to access the chat and also restrict the chat to existing key holders.



With the friendtech app being buggy, it creates an alternative and familiar UI for creators and users through the Telegram and Discord apps.

For creators to access this tool, they need to burn a certain amount of $FGATE tokens which is determined by their share price.



Frenscore is a ranking tool built by Frengate

It uses a point system to rank Key holders on differnt timeframes including the 7 days, 14days, 1 month and all time.



The criteria for ranking within any timeframe are
1.  Number of keys held
2.  Duration the keys were held
3.  Minimum duration of keys the holder has held



This tool makes it easier for creators to find their most loyal holders within any timeframe, which can be very useful for contests, giveaways etc depending on the creator.



The third tool built by FrenGate is an analytics tools with which users can track their portfolio performance in real time along with trade history



2️⃣ Friendtech33

@friendtech33 is a DAO launching a reserve currency $FTW which is backed by their Treasury.

The treasury is a basket of Friendtech keys, wrapped keys, ETH, the friendtech airdrop and other friendtech ecosystem tokens.


They recently did a launch sale on @VelocimeterDEX raising close to $400K



The aim of the DAO is to accumulate bluechip keys.

The keys would give $FTW holders and FT33 DAO key holders access to the chats of the accounts of the keys the DAO holds

The treasury is funded through the prelaunch sale and bonding.




FT33 works like an OHM fork

Staking of $FTW is also live with an APY of over 1400%

https://twitter.com/0xBreadguy/status/1707153805651894476



3️⃣ FrenBond

@FrenBond is a protocol for trading of bonds which track the value of keys.

Frenbond makes it possible for users to trade any keys prices with both longs and short without having to hold the key.

Its a PVP protocol. (And its not live yet)



Here is how it works

• Anyone can open a treasury  allowing traders to buy bonds

• There are two types of bonds: Long and Short. Traders buy bonds to speculate on the price of the FT key before the bond reaches maturity. The time to maturity is usually set to 24H


• The price of the bonds starts from $1 and increases every second till maturity and holders can also sell their bonds before maturity

• When the treasury reaches maturity, anyone can close it. The winning bondholders can then collect the payout from the treasury



• Fees goes to FrenBond keys holders and to $GFB holders

• The key holder/owner of the bond being traded also earns a percentage of fees




4️⃣ Friendlend


As the name suggests @frenlend is a protocol for lending borrowing powered using wrapped friendtech keys.

Lenders can deposit ETH into the lending pools to earn yield, while borrowers can collateralize their wrapped FT keys to borrow against.

https://twitter.com/frenlend/status/1704592014413808084?s=20



Friendlend does not use Oracles instead it uses collateral ratio and utilization rate to protect lenders.

Every pool starts with a collateral ratio which is independent of token price.


The collateral ratio specifies the amount of tokens that can be borrowed for every collateral token and it is based on the utilization rate.


The utilization rate is the percentage of liquidity in the pool that is being borrowed.



Whenever lenders remove liquidity, the utilization rate starts to increase and when it gets above a specified threshold, it triggers the collateral ratio (CR) of the pool to start reducing over time.

Any position whose CR > pool ratio can be liquidated.



This incentivizes users to add collateral to decrease their CR which reduces the utilization rate of the pool.


When the utilization rate of the pool falls below the threshold, a recovery state is achieved and the CR increases towards the maximum CR once more.



This system helps to maintain a fair collateral ratio depending on market demand.


There is currently an early partner program ongoing which would be about 10 partners.


These partners would have a genesis pool which would be the only pools at the beginning when the protocol launches.



Other projects to look into:
- Friendex
- FriendDAO (@frienddaotoken)
- FriendMEX (@FriendMEXcom)
- Friendtechpro

Frens in tech
@crypto_linn
@Louround_
@0xTindorr
@0xSalazar
@thelearningpill
@arndxt_xo
@rektdiomedes
@TheDeFISaint
@2lambro
@DefiIgnas
@CryptoShiro_
@TheDefiDog
@stacy_muur
@poopmandefi
@Defi0xJeff
@Hercules_Defi
@0xFinish
@francescoweb3
@FarmerTuHao

Exploring the Friendtech Ecosystem

The Liquid Staking sector commands a massive $21.11b of TVL, more than half the total value locked of DeFi at $38.97b.

LSDfi remains one of the strongest narratives and Magpie is right at the heart of it with Penpie and Radpie.

How the veWars are playing out

🧵👇


Within the past week itself, $PENDLE has outperformed almost every coin.

And the prospects for Pendle are hotter than ever with it's push towards RWA.

Securing vePENDLE share is at the top of Magpie's list with Penpie.


1️⃣ Penpie
Just like @CurveFinance, the bullish prospects of Pendle have attracted multiple protocols to build on top of it, with @Penpiexyz_io leading the charge.


@Penpiexyz_io can be seen as a Yield-Boosting-As-A-Service protocol for @pendle_fi.

Utilizing its large treasury of vePENDLE, Penpie is able to provide yields that are significantly higher than what you can get on Pendle.


This is especially beneficial for new users who do not have enough firepower to acquire large amounts of $PENDLE to be locked into vePENDLE to boost their LP rewards.


In order to understand how Penpie achieves that, you'll first need to understand how Pendle works and the utility of vePENDLE.

@LouisCooper_ has an in-depth deep dive on it:

https://twitter.com/LouisCooper_/status/1612743314092232706


Penpie works by attracting users to convert their $PENDLE to $mPENDLE for ~20% more yield as compared to locking $PENDLE for vePENDLE.

$mPENDLE is also liquid and tradeable as compared to vePENDLE, allowing users to exit their position anytime.


In the backend, Penpie takes the $PENDLE that was given to them and locks it up indefinitely on Pendle.

This grants them the right to receive boosted rewards when providing liquidity on Pendle.


Penpie then offers up the service to allow users to utilize its vePENDLE holdings to earn boosted yields when providing liquidity to Pendle via their platform.

The same pool on Penpie gives out ~9% more yield as compared to Pendle!


Users can also lock up Penpie's $PNP to vlPNP to gain access to the voting power of Penpie's accumulated vePENDLE.

Users are able to vote on Pendle's LPs and get rewarded with bribes!


vlPNP also earns 5% of all of the $PENDLE emissions generated from its Pendle LPs on its platform.

vlPNP will take 60 days to unlock for users looking to exit their positions.


If you have paid attention, you'll know that vePENDLE voters gain 80% of the swap fees generated from the LPs that they voted for.

What most people don't realize is that Penpie is also earning those LP swap fees every time vlPNP holders vote.


What's interesting is that currently, these earnings are stored on Penpie and not directed to mPENDLE, Penpie LPs and vlPNP.

A future Penpie governance proposal will decide the allocation of these rewards.

meaning yields can still go even higher.


Similar to the Curve Wars, there is an ongoing race where protocols attempt to accumulate as much $PENDLE as possible.

@Penpiexyz_io is currently leading with 7.8M vePENDLE, which is 27.81% of the supply.

👇


2️⃣ Radpie

Apart from @pendle_fi, the team behind @Penpiexyz_io also has their sights set on building a Yield Booster on top of @RDNTCapital.

This will be done with @Radpiexyz_io.