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ReferralsCurrently the quantity is too much to handle when the value I earned is not much. So I may report this on a separate article. May 2021 Income ≈ $45Grade: DPersonal CommentsThanks to Elon Musk, China, and many other factors, May was the next big market crash of crypto. I lost 1/3 of my profits which was 10 years worth of average salaries here. I gave and donated another 1/3 before the market crash to people important to me. I am now left with 10 years worth of average salaries. I did sense that the market was going to crash but I missed it anyway because the fundamentals are in divergence. The fundamentals are still upcoming for innovations such as ETH 2.0, Binance NFT market place, Polygon (MATIC) as alternative to current expensive Ethereum, Polkadot cross chain, synchronization between Harmony One's main net to its smart chain where no need to cross chain like BEP2 BNB to BEP20 BSC and AVAX main net to its C Chain, etc. Therefore, I used some of my profits to take a private course on financial technical analysis. However, the reason why I completely did not blog for an entire month was because many friends contacted me since my parents exposed my big profits during the bull market wanting to start trading crypto as well. As I wrote, I gave my parents some of the 1/3 of my profit and became curious about trading and used them to trade instead. I spent most of my days receiving guests helping them opening accounts at local cryptocurrency exchanges, deposit, and start trading. Ofcourse I knew that most of them do not care about crypto but only the getting rich quick. After teaching them the technicalities, I immediately told each of the groups to make chat groups where trading together is more fun and less stressful while avoiding myself temporarily being a signal provider. Each of them shared in their groups what they wanted to buy and what they wanted to sell. If profit then we celebrate together, if loss then we mourn together. They wanted me in the group to provide signals for day trading but unfortunately they overestimated me. I am a gem hunter, not a trader, not even an investor is accurate. To follow me gem hunting is currently too difficult for them. Therefore, I remained my role as an educator and gave descriptions about different coins daily for example Bitcoin is ..., Ethereum is ..., Litecoin is ..., USDT is ..., in order for them to at least know what they are investing in. This is also one of my reasons to take a course in financial technical analysis so that I can give signals to them too. Still, they are happy because during this COVID-19 Pandemic that they have the opportunity to earn at home rather than being pessimistic doing something unproductive everyday. I actually planned to become an educator for users but it came earlier than I expected as my original plan was to complete my materials first while blogging. However, it is this enthusiast that made me forget Andreas Antonopoulos words that went our distant friends and families suddenly contacted us asking about crypto is went we should sell everything because that is a strong indication that the market is in excessive greed. Well, I missed selling and I am still hodling until now but my goal remained the same which is to introduce crypto to more people. Think about it, all my peers in college, I can count using my fingers who actually know about crypto. What happen if almost everybody know about crypto and it becomes main stream, how far can our portfolio rise? Still few people know about crypto, so if we missed the panic selling, is better to hodl because we are still early. Only if you entered the crypto market when it is already main stream is when you should be worried. AppendixDonationPersonally, I enjoyed being a full time independent content creator very much and I once again thank the platforms, investors, donators, and viewers for making my venture possible through donations, tippings, and upvotes. If you enjoy and/or want to further support my work you may choose more form of donation:
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Content CreationBlogs
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ReferralsThis month also I received many Netbox referral rewards unlike other months which are purely activities so thanks for using my link! Currently the quantity is too much to handle when the value I earned is not much. So I may report this on a separate article. April 2021 Income ≈ $61.73Grade: DPersonal CommentsApril was the middle of the bull market and I decided to stop blogging and chase the profits. Although most of you will see it as either trading or investing, I like to call it gem hunting. Maybe you see me as FOMOing (fear of missing out) just like the others, but I did it differently than other FOMOes. I was weak in technical analysis. I can only do fundamental analysis and check the news. FOMOing in BTC, ETH, BNB, MATIC, DOT, DOGE, SHIBA INU etc was not something I was confident. So I spent my time looking for projects that are new, that have not pumped yet, and projects that are in massive correction. Thanks to UNI, Ampleforth Governance, ETH, DEXMEX, Polka Insure Finance, BNB, KCS, Ape Swap Banana, JDI Yield, Fairmoon, Polylastic, etc, my portfolio went up 10 times which was worth almost 30 years of average salaries here and you know what, all of these coins I sold very early where if I hold on to them longer, my portfolio would have gone another 3 times. These gains were worth temporary stopping my bloggings for a while. AppendixDonationPersonally, I enjoyed being a full time independent content creator very much and I once again thank the platforms, investors, donators, and viewers for making my venture possible through donations, tippings, and upvotes. If you enjoy and/or want to further support my work you may choose more form of donation:
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With the release of other smart chains, yield farming becomes more affordable for average users. Although Binance Smart Chain was not the first to follow Ethereum's path, it was the spark for the new farming craziness because of cheap fees in average ¢10 per transaction. Still, do you know that using Harvest Finance is better than farming directly? CompoundingWhile in my first article about Harvest Finance, I wrote the difference between annual per rate (APR) and annual per yield (APY). To review it simply, APR is the interest generated annually while APY includes all the interest generated by investing previously generated interest. In traditional certificate of deposit, we may choose to claim interest montly and in APY we deposit those interest as well to earn more interests. While in my first post about Harvest Finance I covered the concept of APY but did not relate it to decentralized finance (DeFi) technicality yet. Executing smart contract costs gas fees and the two gas fees that we definitely cannot avoid are approving contract and depositing assets to farms. Other gas fees can actually be avoided by automating the process, in other words include the process in a single smart contract and not separate. Let's take a look a three scenarios of an example that we want to reinvest our earned interest everyday: The Legacy Process
Everyday costs $0.1 * 2 = $0.2 gas fee to reinvest. In a year, will cost $0.2 * 365 = $73 gas fees. The Current Process
Today, almost every farming platform have the "compound" button where we no longer need to spend fee to harvest before reinvesting. Everyday costs $0.1 gas fee to reinvest. In a year, will cost $0.1 * 365 = $36.5 gas fees which reduces the costs by half. Auto CompoundingLet us say the the smart contract auto harvest and reinvest our interest daily. Therefore, no need to spend gas fees which reduces the costs to zero. This auto compounding the basic feature that is available in Harvest Finance though I have not read yet every when the smart contract harvest and reinvest. More StrategiesIf I am not wrong or assuming this is the case in this article as it does change the logic of the explanation, let us say that highest amount CAKE token are given to those who provided liquidity between BNB and CAKE with APR at the time of this writing is 82% * 40 in Pancake Swap. After this exists 3 approaches: Compound To CAKE Pool
Doing this cost $0.2 gas fee for reinvesting the CAKE into CAKE pool of 92% APR. Compound To BNB-CAKE Pool
Doing this cost two times the gas fee $0.4 than the more simple staking the harvested CAKE into CAKE pool but note that this strategy can be more profitable because BNB-CAKE pool has an APR of 82% * 40 while CAKE POOL only has 92% APR. Trading Strategy
In my second article about Harvest Finance, I emphasized the value of assets. Generally we want to farm an asset that is stable or better goes up in value. What I did not write is that the APR or APY dynamically changes when the asset value changes if the token emission rate does not change. A token that spikes up in value will also cause a spike in the APR and APY indicator. Why Harvest Finance is BetterHarvest Finance provides auto compounding and high yield strategies. Not only that, we are also rewarded with FARM tokens for using Harvest Finance. Look forward as Harvest Finance is always researching better strategies. Finally Understand The Significance On Ethereum FarmsI never farmed on Ethereum because it is expensive and only knew the process theoretically. With many cheaper smart chains today, I finally started farming myself and learned the details that I missed when I was only reading articles. In Binance Smart Chain, Harvest Finance saves us around a hundred dollar assuming auto compounding everyday. Now let us go back to the old days why Harvest Finance was very valuable. In Binance Smart Chain, the average gas fee is $0.1 while in Ethereum the average gas fee is $50. How about if we change the narrative of this article to Ethereum?
Would you look at that, in Ethereum Harvest Finance potentially saves tens of thousands of dollars or the above strategy was never possible manually where farmers compound not daily but monthly or even longer and with Harvest Finance, higher APY was possible because of fee eliminations. This article was first published on Publish0x and mirrored below:Ape Board FinanceYield WatchPoo CoinJDI YieldIf you know anymore, please leave them in the comment section.Mirrors
Disclaimer: this is only a list and not financial advice to jump in any of them. Many can be opportunities but do your own research (DYOR) because price can dump, rug pull, or there can be vulnerabilities in their codes. Although most of them are audited by Certik but do read the audit results. Leave a comment if you know more or if you have a comment about any of these decentralized exchanges. What Many People Ignore in Staking and Yield FarmingBack in the old days whenever someone said HODL my reply was why not just stake instead and earn some interest? That is true if the coin we stake will go up in value. However, many people did not think of what happen if the coin value go down? For example, you have 100 coins worth $1 each ($100 worth) with interest annual percentage rate (APR) 30% a year:
Issue With Many New PlayersNow, the problem is the new players in crypto. For old timer like us, we are used to do our own research (DYOR) such as check the fundamentals, check the sentiments, and finally check the technical analysis of a coin. If there is potential, then buy the coin. Majority of new players probably does not bother doing there own research and even if they did, we still wonder if they are able to handle the volatility of the market. 10% - 20% up and down a day is normal in crypto but those new players most likely will have a heart attack after seeing their investment (or gamble) down by 10% the next day and panic sell. The day later, they cry because their gamble that they sold went up by 50%. When I became known to be in crypto, most of the people who came to me want to give me money and use them to invest in crypto on their behalf.
The Safe Plan I FoundTherefore, for these people, I search some plans of low risk investments in crypto and one of the answer I found is yield farming using stable fiat coin. Yield farming in crypto is providing liquidity and get rewarded in fees plus some tokens. It is called farming because the coins we plant generates crops. For those of you who still do not understand, just think of it as a certificate of deposit (COD) that generates interest in another currency for example we deposit Dollar and we get interest in Yuan. Like staking, yield farming is not profitable if the interest does not cover the loss of the asset's value (the coin goes down in price). However, there are farms now where we do not need to risk our investment in volatile coins but use fiat stable coins as the seeds to grow some yields. Yield farming started during the decentralized finance (DeFi) craze in 2020. For example, we can just supply some dollar stable coins such USDC and DAI and earn interest plus farming their COMP token. Why did I not start back then but only now? The fees on Ethereum became crazily expensive for for average people. Imagine paying $50 to deposit then another $50 to withdraw. This is because of Ethereum scalability issue with only a dozens of transaction per second because they are focusing more on decentralization and security. The more users came, the more users wait and they do not like waiting so what do they do? Rich people who farms hundred thousands of dollars, millions of dollars, are willing to pay thousands of dollars of fee. A thousand dollar is like a snack to them. What about average people like us? We are only willing the pay a few dollars and how long must me wait until a miner serve us? Maybe forever because there are always people willing to pay more? Good news for average people like us this year there are Layer 2 Ethereums and other alternatives such as Binance Smart Chain, Avalanche, and Wan Chain that ranges the fee from almost 0 to most expensive as 20 cents. We can profit in farming with only just a hundred dollar. Other than that, what are these stable coin farming are useful for?
Before I continue, while the calculator shows no risk because it is USD generating interest and yield but becareful with the platform because malicious platform can steal our money. For now top well known platforms such as Venus Protocol, Pancake Swap, and Ape Swap are reliable and maybe some other audited platforms as well such as Conveyor Belt. Other than that, becareful of other platform for example Turtle DEX was said to be rug pulled where people putting their money there lost them. Polygon/MaticQuick Swap when $150/QUICK
Cometh Swap when $199/MUST
Wan ChainWan Swap when $0.379/WASP
Binance Smart ChainVenus Protocol when $79.63/XVS
Pancake Swap when $17.5/CAKE
Ape Swap when $1/BANANA
Bakery Swap when $1/BAKE
Conveyor Belt when $100/BELT
Pancake Bunny when $264/BUNNY
JulSwap when $0.15/JULD
Hyperjump when $1.2/ALLOY
Kebab Finance when $2.25/KEBAB
Spartan Protocol when $1.22/SPARTAN
DODO when $3.7/DODO
Swamp when $124/SWAMP
UBU Finance when $0.38/UBU
Goose Finance when $26.159/EGG
Salt Swap when $0.369/SALT
Slime Finance when $3.304/SLIME
Blue Finance when $4/BLUE
Many Swap when $0.28/MANY
Thunder Swap when $4.77/THUNDER
More Platforms Will Definitely ComeLeave a comment if you know more platforms and I will include them in the next post. Presearch for New UsersPresearch is search engine like Google, Yahoo, and Bing with difference that it is decentralized and powered by cryptocurrency technology. For new users, it is enough to just know the following information:
Interested in More?
Interested in Investing?Unless you are planning to invest or to develop, you probably do not need anymore information except that Presearch is to be a decentralized search engine governed by the community. There is no harm in using it and even more you are rewarded with PRE tokens for using it. If you want to invest which is buying the PRE tokens, then you need dig deeper. My Opinion on Their IntegrityPresearch started in 2017 with one man, then two, then three, the next year became 12, and finally became many (cited from the beginning of their whitepaper). Not only that they survived for 4 years but they also showed growth, they have actual product and thus my opinion is that they are here to stay. Their team web page have their Linkedin accounts showed which is somewhat more trusted accounts in the career ecosystem. While that alone is not enough to put our trust but here some additional information that I found from D&B Business Directory which may help with our investigation:
As a DeveloperTheir engine is not yet open source but they will be they said and they have to be soon if they really plan for further decentralization. For now, there are two codes worth looking at on their Github which are Presearch Packages and the PRE Token Solidity Smart Contract along with its Audit Report. Through Presearch Packages, we can contribute more rich search results for example math package triggered when someone searches for 5 * 10, currency package triggered. when someone searches for two currencies (500 cad to usd), and color picker triggered when someone searches for color picker. For the deployed smart contract is best to see through Etherscan and we can see the holders of the token as well. Their first step of decentralization is that they allowed us to run nodes with limited functions now. While nodes on giant private corporations like Google are owned solely by them, Presearch now allows anyone to run a node and even rewarded with PRE tokens for the work. When a user search, the user will connect the best node based on latency etc to tell the node to retrive search results. In short, we can start participating in decentralizing Presearch but not all functions are decentralized now but they claimed to be releasing the decentralization in phases. Token's FundamentalThe naratives alone which are decentralized search engine powered by crypto technology is already enough for people with their pockets filled want a sense of ownership on Presearch by buying its token. If we ask random young investors who invested in Apple and Microsoft stocks, probably most of them does not know about dividends, their right to participate in votings, and the perks they may have if they become a major share holder. Most would answer, it's just cool owning those stocks and the sense of fulfiness of being part of something big. Today, Preseaarch not only survived for 4 years but also have a well documented roadmap. However, that is not the only thing about PRE token. PRE token have utilities. Advertisement showing in recent search engines are based on auction of keywords. The highest bidder gets their ads shown. But the problem with centralized search engine is that the auction is controlled by one entity. No matter how transparent they are, they can never beat the transparency of a machine running an algorithm. Thus, the auction by presearch is currently the most tranparent since the method is staking the PRE tokens on certain keywords and let the machine calculate who has the highest stake and then that staker's ads will be shown on the top. Ideally, the difference between centralized search engine is the custody. In centralized search engine, we deposit our funds to them and unknowingly that we are giving control to them and beg them to place the ads for us. For decentralized search engines, the custody of our coins or tokens should remain with us and we stake our coins to the smart contract to display advertisement and we can unstake anytime and ofcourse we still hold the private key thus ownership is still fully ours even when staking. Unfortunately, Presearch is not at that level yet where the method is still deposit and withdraw in an account. Anyway, the PRE tokens can be used to advertise, to disfavor other advertisements, or to make an ad free experience for users. The process of staking are:
Though we must not forget the very basis of this fundamental that advertisements are useless if there are no users or viewers. All the people I met physically does not use Presearch. If they are not there, how will advertisers be attracted to spend their money to put advertisements? Although the search rewards, the node rewards, and all other basically free token giveaways have negative impact to the price, they are also ways to attract more users, so it is two way or a cycle. Therefore, the front end of the search engine is very important for example, I prefer to use Presearch when writing a cryptocurrency name as a widget is immediately shown from coingecko the price analysis of the coin but when searching for "time in UTC", I prefer to use Google as it shows immediate the time in UTC. My StrategyIf I did my research in the beginning of this year, I would have seen the price as very undervalued and I would have dared all in. However, I was too late now that the priced already pumped. Although based on the fundamentals the it can potentially greatly increases. However, Google still one sided dominates the search engine ecosystem based on the number of users which I think is not enough to have big players place advertisements on Presearch. With the price already pumping in this condition, the price will highly likely drop if the bull market ends and when there is no significant growth. While Google is only the cause of stagnancy, the only threat for Presearch is only another decentralized search engine, especially where we can just use Metamask to stake and unstake. For now, my strategy is to DCA $5 - $10 in every consolidation in Kucoin. Content CreationBlogs
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ReferralsThis month I received many Netbox referral rewards unlike other months which are purely activities so thanks for using my link! Currently the quantity is too much to handle when the value I earned is not much. So I may report this on a separate article. March 2021 Income ≈ $121Grade: CPersonal CommentsLike last month, the hundred dollar is probably due to the bull market and not due to my hard work because this month I wrote far less than previous months. Usually, I needed to write at least once a day to reach $100. Well this does not apply to everyone. My articles are not top grade articles which is why posting once a day is needed to reach $100. Top articles probably can make hundreds of dollars. Eventhough I wrote much less but I was very happy this month as I added more professions into my list. I officially added crypto gem hunting and yield farming into my daily routine. Sometimes, I was lucky to take some arbitrage trading opportunities. I was very stressed because I did not achieve my target of greatly multiplying my portfolio because I wanted to use them as collateral to my families and friends to start my personal startup or at least my independent job. Collateral here means that they will not bother me anymore to find an official employment. I did not reach that goal, but I should be grateful that I profit another 100 months of average salary here this month. However, this month I have made my determination to charge through the walls despite not reaching my personal goal which was to win 1000 months worth of average salary. If you read my last month report, I already have the intention last month which is to go full with my independent jobs meaning that I will not seek employment in any company. This month, I intend to fully realize that where for now my independent professions are blogging, gem hunting, yield farming, and arbitrage trading. In the future, I want to do more content creating like Youtube and NFTs, build applications related to cryptocurrency portfolio, writing novels, and hopefully I can build a startup and gather teams for it. AppendixDonationPersonally, I enjoyed being a full time independent content creator very much and I once again thank the platforms, investors, donators, and viewers for making my venture possible through donations, tippings, and upvotes. If you enjoy and/or want to further support my work you may choose more form of donation:
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My Description and OpinionHow to StartYou do not need to know about complicated technical knowledge. You do not need to learn about decentralized finance (DeFi) to start eventhough it is best to be integrated in the future. To start, you only need to:
My video above only took 2 minutes:
Mobile Complete TutorialIn contrast to the desktop short getting started guide, if you access the dapp using a mobile device, you will get a much more detailed tutorial complete with animation. If you want to see this tutorial on desktop or again on mobile go to menu > settings > tutorial. Yeah, some of us are too lazy to try Upland or watch my video, so I rewrote the tutorial text fo you people here:
What New Players Today May Confuse About
Mirrors
List of Decentralized Exchanges that Emerged in Early 2021 Outside of Ethereum with Affordable Fees8/3/2021 Early Decentralized Exchange on EthereumThanks to decentralized exchanges, we can enjoy convenient trading without custody and know your customer (KYC). With Uniswap, trading becomes much more simpler with just the press of the button. Unlike centralized exchanges (CEX) where we need to:
after:
Decentralized Exchanges Outside of EthereumBinance Smart ChainThe following DEXs are on Binance Smart Chain ecosystem with all transactions paid in BNB. Note that it is different from Binance Chain ecosystem where the address starts in bnb..., this ecosystem uses the same address as Ethereum. Therefore, you can use Metamask by just switching networks:
Disclaimer: do not trust even me easily, always check their official website for example https://academy.binance.com/en/articles/connecting-metamask-to-binance-smart-chain because you may get your fund stolen if you use a malicious RPC (please correct me if I am wrong). Still, I prefer to use the Binance Chain Extension as it provides cross chain transactions between Binance Chain (bnb....) and Binance Smart Chain (0x....). Pancake SwapOther DEXsThe following DEXs originally just Ethereum DEXs but are integrating Binance Smart Chain into them: Binance ChainTronThere are other Tron DEXs other than Just Swap but they are still using traditional order book: Tomo Chain
Matic/Polygon
NeoThere are other DEXs which uses traditional orderbook: ZilliqaSolanaAvalanche
Energi
QTUMOKEX ChainCosmosSif ChainOthers Only Order Book
Finally, looking forward to Polkadot and other cross chain products. Leave a comment if you know anymore to complete this list. |
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