Trading, Gaming & Lending — Oh My!
These are a few of my favorite things in DeFi
5 lesser known DeFi projects I've experimented with & absolutely adore 🥰
1/🧵
2/ TLDR - Table of Contents
>DEX - @beethoven_x $BEETS - 3/
>Yield Aggregator - @Reaper_Farm $OATH - 10/
>Gaming - @DefiKingdoms $JEWEL - 14/
>Lending - @GranaryFinance - 18/
>Cross chain - @THORChain $RUNE - 21/
3/ Favorite DEX — @beethoven_x / beets.fi
$BEETS is a Balancer fork known for their 80/20 LPs & multi-asset pools. The 80/20 pools are a great way to garner yield on assets while mitigating potential IL. $BEETS began on $FTM but recently expanded to $OP.
4/ One of my favorite pools, “A Late Quartet,” is a 4-way split of 25% each USDC/wBTC/wETH/wFTM which allows users to easily DCA in & out of the market.
For instance, I can withdraw in one asset only (say USDC) & the pool will automatically rebalance my assets for me!
5/ Let's talk fBeets! 30% of Protocol revenue goes to fBeets holders. Holders also vote in the @beets_wars every 2 weeks & are on the receiving end of generous bribes from several protocols seeking the extra weekly emissions.
twitter.com/cryptoismyjam/status/1527467747449286656?s=21&t=g0_INtkrVe6hnRBwSBVTBg
6/ In addition to boasting some of the highest yields for liquidity providers on $FTM (and now $OP) $BEETS is constantly pushing the envelope when it comes to new tech in DeFi.
7/ Recently, $BEETS introduced “boosted pools” - an innovative new product to maximize yield from stagnant liquidity in their LPs.
medium.com/@beethovenxio/boosted-pools-the-future-of-liquidity-provision-reimagined-7f99113ab2a2
8/ I also like that $BEETS places an emphasis on education & is constantly seeking to inform their consumers of both new product offerings & best DeFi practices in general.
Furthermore, $BEETS provides one of the best UX/UI experiences in DeFi - it's intuitive & easy to use.
9/ Finally, $BEETS has a fun & memorable Ghost/Opera theme based on the $FTM ecosystem.
If you’re lucky, they’ll make you a personalized PFP!
10/ Favorite Yield Aggregator — @Reaper_Farm / reaper.farm
Reaper is a simplified yield aggregator on $FTM & the 1st product by dev team @bytemasons. Reaper makes yield farming easy by automatically compounding rewards into more LP tokens & adding to your principal.
11/ It’s easy to navigate the @reaper_farm site & search for farms based on “TVL” or “APY.” Currently, Reaper is used by 66k users & has $14 million TVL.
During the @Solidly/@Solidex/Andre heyday, I enjoyed yields of $1 billion plus or “A LOT % APY”
Ah, the good ole days 🤩
12/ A quick note on the @bytemasons — Many in the $FTM community & beyond regard them as one of the strongest dev teams in crypto. They pride themselves on security & UX.
13/ The @bytemasons also recently released their own token - $OATH. I participated in the launch & own a small bag.
twitter.com/cryptoismyjam/status/1496354503905488899?s=20&t=g_1D5PV884TudijKKQwj-A
14/ Favorite Crypto Gaming — @DefiKingdoms / defikingdoms.com
DeFi Kingdoms (#DFK) makes me feel like a kid again. It’s a game I enjoy playing & for once can feel slightly less guilty because of the “play-to-earn” concept (shame on me for not taking profits at $20 $JEWEL)
15/ #DFK includes a DEX (marketplace), yield farms (gardens), NFTs (heroes), Fiat onramps & strong community all bundled into one fun game. I enjoy harvesting my $JEWEL from the gardens instead of simply 'collecting LP rewards' like I do on traditional DeFi protocols.
16/ There’s no right or wrong way to play the game.
Some utilize the gardens (i.e. provide liquidity) for outlandish yields — I’ve seen a range of 100%-5,000%!
Others hold their $JEWEL in the bank (this is $xJEWEL - the governance token) for a more modest 20–30% yield.
17/ The most engaging, albeit unknown ROI, is actually playing the game. This means buying & summoning heroes, questing your heroes through fishing & mining, constantly searching for items & leveling up their stats along the way. I'm looking forward to combat & PVP coming soon.
18/ Favorite Lending Protocol — @GranaryFinance / granary.finance
The Granary is an @Aave fork & cross chain lending protocol which began on $FTM & has since expanded to $AVAX, $OP, $ONE & $ETH. They are closely affiliated w/ previously mentioned dev team the @ByteMasons
19/ Currently the @granaryfinance rates are based 100% on market utilization.
According to dev @definalfantasy, the rates are all direct peer to peer lending since they do not have a token (no ponzinomics !)
Their customer dashboard is a breeze to navigate & max LTV is 80%.
20/ I first heard about the @granaryfinance because I was speculating on an airdrop.
They announced they have been taking snapshots of depositors & borrowers every two weeks since March-ish.
20% of the future airdrop will go to depositors & 80% to borrowers 😉
21/ Favorite Cross Chain Protocol — @THORChain / thorchain.com
@celsiusnetwork & now @investvoyager are the first major CEXs to halt withdrawals this bear market & they won't be the last.
We need DeFi options.
Enter: THORChain ⚡️
22/ @Thorchain is a decentralized cross chain infrastructure without the need for bridges or wrapped assets.
@THORSwap is the DEX. The native token is $RUNE. Mainnet launched this past week.
$RUNE ⚡️ is my highest conviction alt & #2 in my portfolio after $BTC (RIP $LUNA)
23/ Imagine swapping native $BTC for $ETH without a CEX? Or perhaps you want to put your $BTC to work — where else can you LP your native $BTC without having to convert to wBTC?
You can do both of the previously mentioned & more on @THORChain!
24/ If you enjoyed this thread, I'd appreciate a RT! I'm also looking for constructive criticism as I find my voice in this mercurial industry. Feel free to leave a comment!
Prefer to read in article form? Medium link is below.
Until next time, Degens!
medium.com/@cryptoismyjam/a-few-of-my-favorite-things-in-defi-6506ad41e2a4