Category Archives: Crypto Currency Videos

Will Cardano Overtake Ethereum in 2021?

Will Cardano Overtake Ethereum in 2021?

Everyone in the crypto world has questions and expectations about the future of Ethereum as Ethereum 2.0’s release keeps getting closer. Will this upgrade be able to address the Ethereum scaling problem along with performance issues? Will the gas prices model be changed? Will the change to proof-of-stake increase the throughput to the level required by the current boom?

While I wonder about all of this in order to decide how to manage my ETH portfolio, crypto projects might have more at stake than I do. Some of them are not waiting for Ethereum’s latest upgrade. Today, I will be updating you with the latest news on Cardano as well as telling you why you should have ADA in your portfolio as it will be overtaking Ethereum next year. We’ll pit ADA vs Ethereum and tell you exactly how Cardano will benefit from an ETH 2.0 stall.

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How long does it take to mine 1 Bitcoin?

How long does it take to mine 1 Bitcoin?

The simple answer is that it currently takes about 10 minutes to mine a new Bitcoin. However, mining is a complex process, of which several factors need to be considered.

Bitcoin’s value and demand are projected to rise in the coming years. Buying Bitcoin is the easiest way to obtain the digital currency, but there are other ways to receive it. Mining Bitcoin is a viable option. This article explains how long it takes to mine 1 Bitcoin. 

Mining Explained

Mining Bitcoin involves transaction validation. Nodes (computers) compete to generate new blocks of valid transactions and include them in the Bitcoin blockchain. These nodes are rewarded for their computing power. 

Whenever a Bitcoin crypto transaction is performed, network nodes make sure that it is authentic and then update all information required about the transaction to the blockchain. Nodes compete by solving complex math puzzles. The winning node earns a reward, paid in BTC the native cryptocurrency to the Bitcoin blockchain. 

This process requires a great deal of computing power, making mining an expensive and calculated activity. As compensation for the costs, the network gives the reward for validated transactions.

Bitcoin mining is a finite process as there are only 21 million coins in the total supply. The last of these is projected to be mined about 120 years from now. With the decreasing supply, the number of Bitcoins allocated as rewards reduces every four years, known as the Bitcoin halving. This phenomenon has taken place three times so far, and occurs every 210.000 blocks, reducing the block reward by half. The last halving, which occurred in May this year, left the current rate sitting at 6.25 Bitcoins per block. 

Factors Affecting the Time It Takes to Mine 1 Bitcoin

As earlier mentioned, with Bitcoin’s supply algorithm, the average time required to mine one Bitcoin is approximately 10 minutes. The time needed to create a single new block remains constant, but some other crucial factors that affect the profitability of mining Bitcoin include:

  • mining hardware used
  • hash rate
  • mining method 
  • mining difficulty

Mining Hardware Used

The Bitcoin mining landscape is much different than it was at the start in 2009 when miners could use their PCs to generate new blocks. Bitcoin now uses the SHA-256 mining algorithm, which most computers cannot handle. It takes extremely powerful and efficient hardware to run millions of calculations within a short time. 

Graphics Processing Units (GPUs), Application-specific integrated circuits (ASICs), and Field Programmable Gate Arrays (FPGAs) are the current most broadly used hardware for Bitcoin mining. There is also the issue of electric power consumption, the more powerful the computer is, which is an added expense.

Hash Rate

Hash rate is the measure of how much power the network requires for finding and validation blocks of transactions. This metric expresses the ability of a blockchain network to make computations, calculated by the number of operations done every second (hashes per second).

Hash rate increases with more nodes available to compete to solve a block. So, a network with a higher hash rate simply has a better chance (more nodes competing) to confirm the new block.

Mining Method 

Solo mining to earn a full personal reward is expensive and tedious, as discussed above. Mining pools are the best option for those who can’t afford the huge costs of Bitcoin mining hardware. They allow people to pool resources to achieve a higher hash rate, which means more blocks mined. 

Bitcoin pools share resources to cover the costs of computing and electric power and puts them in the running against big-time mining companies. It also betters the chances of winning the block for a shared reward.

Mining Difficulty

Mining difficulty is an indicator of how hard it is to get the right hash (operation) for each block of Bitcoin. It shows the amount of work a node must put in to be rewarded. 

Mining difficulty is an ever-changing value, so it is challenging to approximate the exact potential mining time. That’s because the bitcoin network is designed to alter difficulty every 2016th block to make sure that the process occurs every 10 minutes.

When it becomes too easy to mine new blocks, the network increases the difficulty, making it harder. The reverse is the case when mining becomes too hard, which may happen if the price of Bitcoin falls, and too many miners quit mining.

Conclusion

Due to the ever-changing factors involved in mining, such as competition and computing power, it is difficult to state the exact time it takes to mine a Bitcoin. The average is 10 minutes; however, it may take a miner more or less time depending on their mining power.

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Solana Blockchain Review by Coin Bureau

Solana Blockchain Review by Coin Bureau

Solana is a fast layer 1 blockchain that was founded by former Qualcomm employees. The Solana blockchain can scale to over 65 000 transactions/second. It is able to scale without sacrificing decentralization or security due to a very unique feature.

Solana is able to do this by adding timestamps to blockchain transactions, something also done by companies like Google and Intel.

However, Solanas being a decentralized platform means it cannot use a centralized clock. Because of this Solana created its own decentralized clock. The clock is required for the entire blockchain to reference and organize transactions and blocks accordingly.

Solana, similar to Ethereum is a smart contract blockchain. Solana is still in development, however, this has not stopped 3rd parties from beginning to migrate towards the platform. Major players in the cryptocurrency space such as Tether, Chainlink, and FTX have all begun steps to utilize the Solana blockchain.

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How to Create NFTs Non Fungible Tokens

How to Create NFTs Non Fungible Tokens on Ethereum

Use this video to learn about the process of how to create NFT's (Non Fungible Tokens) using the Rarible app, an NFT marketplace.

The blockchain space is evolving, Yield Farming and NFT's are giving the crypto space a wave of new crypto enthusiasts. You can use the video above to learn about how you can create your own art and digital objects into tokenized assets on the Ethereum Blockchain.

Rarible: https://app.rarible.com/

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NFT Marketplace Rarible and the RARI Token Explained

NFT Marketplace Rarible and the RARI Token Explained

What Are NFTs Non-Fungible Tokens

Non-fungible tokens are similar to collectibles, but digital or digital representation. These special cryptographic tokens have 4 key properties:

  • Can't be counterfeited
  • Can't be replicated
  • Can't print to demand
  • Has ownership guarantees

Two main types of NFT's

  • ERC-721 tokens
  • ERC-1155 tokens: Which combines both fungible and non-fungible tokens

What Is Rarible?

Rarible is on track to becoming the first decentralized and community-owned marketplace for non fungible tokens. Both ERC-721 and ERC-1155 tokens are supported on the Rarible platform.

NFT MARKETPLACE RARIBLE

What is RARI Token?

Rarible aims to become a DAO (decentralize autonomous organization) and an important part of making this come to be is a governance structure. That’s why the RARI token is a governance token. Right now, there are two main things you can do with RARI tokens.

  • Community voting - proposals to improve the marketplace.
  • Curation - community decides which NFTs should be featured on the Rarible marketplace.

What to expect from Rarible

The Rarible team has a plethora of different products and services in the pipeline. This includes things like:

  • NFT market indexes (buy baskets of collectibles)
  • price discovery mechanisms for NFTs (get alerts and notifications)
  • a mobile app (buy, trade, and swap nft's on the go)
  • social features (share, comment, interact with nft's)
  • DeFi NFT’s (Defi, yields, mining, rewards in the NFT space)
  • fractional ownership and more (Own fractions fo things such as domains, sales, real estate etc)
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What is a Non Inflationary Cryptocurrency

What is a Non Inflationary Cryptocurrency

a non-inflationary cryptocurrency is a digital asset that has a fixed or diminishing supply. There is absolutely no way to create new tokens. This means the circulating supply can only go down.

Deflationary Farming is a process that allows farming without infinite inflation occurring. In order for this to happen, a fee must be charged on token transfers, and people can earn fee's by farming.

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ETHEREUM 2.0 in October 2020 | Chico Crypto

ETHEREUM 2.0 in October 2020 | Chico Crypto

GET READY! Ethereum 2.0 could be launching in the next few weeks! This means STAKING is coming to Ethereum sooner than people realize! Do you have your 32 ETH for staking!? Will the launch of ETH 2.0 be enough to keep the crypto markets bullish? Or will smart contracts need scaling too & soon!? Tune in to find out…

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What is Deflationary Farming | How Deflationary Yield Farming Works

What is Deflationary Farming | How Deflationary Yield Farming Works

Yield farming has an inherently bad characteristic. You are putting down capital to earn something that you and all the others like you intend to sell. This means there is likely to be higher demand in the short run and sell-offs as time progresses. This destroys the value of the underlying token, do to inflating the supply.

There is a solution to this madness! and its called Deflationary Farming. For deflationary farming, there must be 1. a fee charged on token transfers, and 2. users can earn fees when they farm. This allows those who farm to do so without infinite inflation.

By having a fixed supply that cannot be added to and having unstakeable farms, yield farms cVault.Finance has created the first deflationary yield farming farms in the defi space.

The rewards given to farmers in cVault.Finance are paid out in Core tokens. The core tokens used for rewards are made available by cVault Finance ferm buying them from Uniswap and given to the farmers.

List of Deflationary Farms / Tokens

  • Core Token - Learn more about Core token here
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How to Use cVault Finance and earn Core Token

How to Use cVault Finance and earn Core Token

Welcome to this video posted by King of Fomo, in this video you will learn about cVault.finance and how you can earn Core Token by yield farming.

What is Core Finance?

Basically, it is a farming token, with a few twists. Most farming platforms are a copy and paste with minor changes of an existing platform such as Uniswap. Core Finance which is already over 10 million in total liquidity is still considered a low cap coin. The total supply of Core Token is just 10,000.

When you are farming Core Tokens you cannot remove your staked coins. This is unique as most other farms being yielded are ones where you can unstake your liquidity (Core-ETH pair for example).

CoreVault is the first high yield farmable deflationary DeFi token. With most liquidity farming pools the farmers are farming, they have to mint constantly new coins to generate returns. This causes the coin to become less valuable and they have too much sell pressure to keep the value from dropping.

The solution by Core Finance is called deflationary farming, it requires to very simple steps:

  1. Charge fees on transferring tokens
  2. Users can earn fees through farming

From this; token holders are able to farm without infinite inflation.

How to buy Core Token

Step 1

Go to https://cvault.finance/ and click on 'Wallet' then in the Core area click on 'Get'

This will bring you to Uniswap where you can swap to receive Core tokens.

Buy core tokens on uniswap

Step 2

Once you have your Core tokens you will need to create the liquidity pair with Eth coins and 'supply' them to the pool.

Get core weth using uniswap

Playing Minesweeper on cVault.finance

You may notice that the cVault finance website looks like an early version of windows operating system. You can click the start button in the bottom left and a menu will pop up with the option to play Minesweeper - the unforgiving classic desktop game that ends when you click a mine.

Minesweeper on cvault finance website

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Best yield farming optimizer to use for the most gains (YFO)

Best yield farming optimizer to use for the most gains (YFO)

In 2020, no ‘pure’ crypto enthusiast can insist that they have successfully ignored the lush idea of yield farming totally. Since Compound made its mark in the decentralized finance (DeFi) hustle with the COMP governance token, crypto users have swarmed towards developing new and ingenious strategies to generate the most yield from their token investments. This move effectively shows how long it’s been since the Initial Coin Offering boom was all that mattered in the crypto space. 

One of those bright ideas put forward was by Andre Cronje, whose design philosophy mapped the creation of the now-famous YFI. To put YFI’s achievement in a sentence, YFI amassed its fanbase when it achieved 2000% APR, and it managed to hold a 100+% APR return rate for quite a while before newer models and strategies grabbed their own share of the limelight.

Using the idea as a base model, many experts are in their workshops redesigning what is now popularly known as a yield farming optimizer (YFO). The YFO is essentially a yield farming protocol created to maximize profit by shifting invested digital assets around in target circles to provide a level of liquidity that provides the highest paying yield opportunities. 

A perfect example of such a successful redesign is JFI by the Justpool finance team. The team deployed JFI as the yield farming optimizer on the Tron platform with numerous pools on JustSwap, to begin with. The change led to an increase in net profit and reduced gas fees for participation in the liquidity provision on the JustSwap platform.

We can see the purpose of a yield farming optimizer in two points:

  • First, there’s a baiting fee termed ‘trading fees’ that the platform can now employ to draw in liquidity providers. This incentive favors both the system leaders and liquidity providers.
  • JFI staking can then become executable on as many as 21,000 tokens to achieve an exponential return on profit as liquidity factors in. Of course, this comes along with voting and governance rights to widen the scope of Defi yield farming on the JustPool finance platform.

In their system, the community oversees governing the $JFI, and the rules are set so that token earnings can only be through mining as there are no plans for ICOs, and pre-mines are also out of the equation. Other system governors might want to keep a hold on some of their tokens, but claiming to open the total number of tokens to the community has proven to be the fastest way to draw liquidity catalysts in. 

The $JFI yield farming pools have also been set to be mined in as little as 10 weeks. The strategy is to mine three pools that contain an equal number of tokens (7000 each) weekly, with half to be mined in the first week, before an estimation on the half of that number is mined in the following week. The progression continues with half of the present week mined in the next until the ten weeks are over. Subsequently, the team will share the liquidity stakes as a reward to all miners in each pool.

The execution of a yield farming optimizer such as this provides interesting insight towards the future of DeFi. After all, an increase in the probability of earning profit is always welcome, and where the profit yield grows, is where you’ll see liquidity investors.

Best Yield Farming Optimizer (YFO)

An exciting new Yield Farming Optimizer coming soon is the one from DefiYield.Info. Be sure to check them out for new updates and features regarding defi and yield farming opportunities.

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How to use Honeyswap to Provide Liquidity | HNY xDai Pool Rewards

How to use Honeyswap to Provide Liquidity | HNY xDai Pool Rewards

Welcome to this crypto video and quick blog post about 1Hive's Honeyswap decentralized exchange. With Ethereum network getting clogged and having transaction fees in the $5 to $20 range, many people and dapplications are looking for alternatives.

Honeyswap 1Hive Uniswap fork

One such alternative is the xDai chain which can be used with 1Hive's Honeyswap. The xDai chain is appealing because it is still using the Ethereum blockchain as a sidechain/sister chain. Opposed to a blockchain such as Tron which is a separate crypto blockchain all together.

Transacting and swapping on the xDai chain is a considerable amount cheaper and faster then the Main Ethereum network.

We will start at the stage as if you already have a metamask wallet and some Ethereum in it.

Steps to use xDai chain, xDai bridge, and 1Hives Honeyswap platform

Step 1:

Connect your wallet to the Ethereum sidechain/sisterchain - the xDai Network

  1. Click the circle on Metamak
  2. Click add Network
  3. Add these 4 details in the respective boxes:

If you do not do this then you may see this error "Wrong Network" when trying to use Honeyswap. If you get this and you are looking at how to fix the error then you simply need to connect to the xDai network using the steps above.

Honeyswap Wrong Network error how to fix

Step 2:

Buy Dai on Ethereum chain and convert to xDai on xDai chain

  • Buy Dai on Uniswap
  • Switch back to the Eth Network in your Metamask wallet
  • Convert Ethereum to Dai using Uniswap or another exchange.
  • Transfer your Dai on the Ethereum Network to xDai on the xDai Network. You need to use a bridge to do this. You can use this bridge here: https://dai-bridge.poa.network/).

Make sure you are using the Ethereum network in Metamask to send. Like wise if you were trying to send xDai back into Dai you would be using the xDai network to send back. Be a bit patient here as it takes a few minutes for your xDai to appear in your wallet.

If you have xDai shown on the left (as per the screen below) then you are using the xDai network in Metamask and need to switch back.

Transfer from Eth main net to xdai chainPOA xdai bridge

Step 3:

Add liquidity to a pool (we will add to the xDai / HNY pool)

There are many pairs that you can add to. You can see them and their details here https://info.honeyswap.org/pairs.

  1. Switch to xDai Network in your Metamask wallet
  2. Buy Honey (HNY) on honeyswap. The pool is about 50/50 xDai and HNY so consider this before choosing how much to swap. (be sure to leave atleast 1 xDai in your wallet as it is used for gas fees similar to how Eth is used for gas fees on Ethereum. https://info.honeyswap.org/token/0x71850b7e9ee3f13ab46d67167341e4bdc905eef9
  3. Add to the HNY xDai pair
    • Click on pool > Add Liquidity

Add liquidity to pool on honeyswap

    • Choose both xDai and HNY as a pair

Add liquidity to hny xdai pool on honeyswap

    • Confirm and pay for the transactions. Be sure to also click 'Supply' after the swap is 'Approved' to put your pair in the pool to provide liquidity. After you should see something like this showing you your pool allocations.

proof you provided liquidity on honeyswap

Great! now you are providing liquidity to the HNY xDai pair on 1Hives Honeyswap. You may be wondering what you get for doing this? For example on Uniswap you get UNI tokens for staking your digital assets. Likewise on Honeyswap you get rewarded for providing liquidity.

How do you get and claim your rewards? How do you know what token the rewards are being paid out in and at what weekly rate or APY? Where are the rewards displayed on the Honeyswap site?

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WHAT IS UNISWAP GOVERNANCE TOKEN (UNI)?

WHAT IS UNISWAP GOVERNANCE TOKEN (UNI)?

DeFi leader Uniswap, has stepped it up with a governance token of their own – UNI. As expected of such a behemoth of a platform, they have big aspirations. Aspirations that are well encapsulated by the one billion coins stocked for release over the next four years.

To Uniswap, this is a chance to reward their community members, investors, present/future employees, and advisers with a planned token allocation of 60%, 17.8%, 21.51%, and 0.69%, respectively. In doing so, they follow the recent trend of protocol teams dishing out governance rights in exchange for the much-desired liquidity.

Since its launch, the UNI has not been immune to the market cap’s price volatility. Within 48 hours, the UNI token price soared as high as $8.00 as Uniswap users grabbed their share of airdropped tokens, in the following days it settled around $4.00.

However, it’s still early days for this new token, and the attractive $4.00 current market price per token has catalyzed widespread belief that this token can end up becoming DeFi’s next golden project.

The four-year vesting cycle is adjudged to be worth around $600 million in potential yields for the 17.8% (178 million tokens of UNI) to be shared to the investors. 

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Biggest Yield Farming Secrets EXPOSED

Biggest Yield Farming Secrets EXPOSED

The initial buzz around Decentralised finance (DeFi) has become the backdrop of yield farming recently, and for good reason. Yield farming promises dreamlike returns on capital investments in platforms like Curve, Synthetix, Balancer, and of course, Compound. These returns can reach 100% APR on ETH, comp, random,  and other stablecoins. It suffices to say that the idea of yield farming epitomizes earning money while you sleep, but only if you're doing it right. 

In the beginning, yield farmers simply made the most of the flattering attempts by new big names like Synthetix to enable liquidity providers to circulate their native tokens. They accomplished this through their synthetic ETH token (sETH), using Uniswap DEX. The bait was that adding liquidity to the targeted sETH trading pool and staking Uniswap deposits called Uniswap sETH LP tokens, would profit the investor with SNX ( the Synthetix token) as well as trading charges earned from the Uniswap platform. 

Following that trend on various DEXs, Synthetix currently gives back the most SNX returns at (about 48,000 SNX) every week through the Curve DEX. Meanwhile, other protocol teams have copied that style, with the COMP tokens smashing various records after debuting as governance-tokens-on-sale recently. 

On that note, the most experienced experts in the world of yield farming have released a few trade secrets that will change your approach towards yield farming for the best profits. Here's what they have to say:

Learn all you can about 100% APR – Arthur Cheong 

By taking the time to meticulously borrow tokens that'll yield the most COMP,  farmers have learned to supercharge their proceeds. This leverage borrowing system relies on the market-based distribution formula for the COMP token, and channels like InstaDapp has made that whole ordeal a more straightforward one.

The beauty of this strategy is in its continuity since liquidity providers can just hop on to the next scarce token after heating up to its maximum potential. This is evident in how most liquidity providers have moved onto less popular pieces like ZRX and BAT tokens after gaining weight on USDT. 

Divide and plunder – Degen Spartan 

Instead of looking at the juicy fruits on offer with the movement to COMP, you can capitalize on the resultant gaps in token space that have made niche strategies a bigger market for those willing to try. All you have to do is invest some stablecoins into the sUSD Curve pool, for example, and you'll be happy with more than an extra 20% APY in SNX after you throw the token into the Synthetix Mintr incentives contract.

Low-rate capital – Jake Brukhman, Founder and Managing Director of CoinFund

This has profit written all over it, but farmers will need to dig in their heels to weed out the really 'big fish' opportunity. There are many lending platforms offering capital at interest rates that go well below 0.1% - some are even available at 0%. There's also the exuberance of early protocol teams that promise sky-high APYs to consider. Of course, your assets, luck, and risk-taking threshold determine your prospects, but the odds are really good. 

Don't forget the roots - Lasse Clausen

Little success in enabling liquidity for rewards can derail farmers from the basics of yield farming. One has to continually remember that yield farming is all about providing exposure for these tokens at their early stages in order to seize on their potential. While this means there's always some reinvestment to be done, the endless possibilities are why yield farming is so exciting anyways. 

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Disclaimer: Statements on this page do not represent the views or policies of anyone other than the person who says or writes them. The information presented to you on this site is made available for discussion purposes only, and is not cryptocurrency investing or any other type of investing recommendations or advice. Under no circumstances does the information on this page or site represent a recommendation to buy or sell cryptocurrencies and crypto securities. All product and company names are trademarks™ or registered® trademarks of their respective holders. The use of them does not imply any affiliation with or endorsement by them. By using this site you agree to our website terms and privacy policy found at watchcrypto.media/terms-privacy

Understanding Impermanent Loss

Understanding Impermanent Loss

Imagine our shock when we discovered that processing liquidity doesn't mean a guaranteed future as we watched millions of staked tokens lose value before our very eyes. It seemed better with the old technique where we just held our tokens. But understanding the unfazed advent of the automated market maker (AMM) technology plays a significant role in helping to overcome 'impermanent loss' (the term used to define the risk that DeFi's many liquidity providers run every time they try out a basic buy-and-hold strategy).

In order to get the way to circumvent this risk, we must first know the enemy. So, what is Impermanent loss?

What is Impermanent Loss?

Impermanent loss is the degree of deviation between the token value in an AMM and the value of a token kept in a wallet. The rather optimistic 'impermanent' part of its name is simply to acknowledge the rare possibility that the relative token prices in an AMM will go back to their initial state (the value when you placed the token will then replace the loss and you even get 100% of the trading fees in addition). 

The sky is not that blue, however, and that's why liquidity providers often lose their capitals in that process, in addition to negative returns on the investment.

What Causes Impermanent Loss?

The roots of Impermanent loss are the arbitrageurs. It is common knowledge that AMMs are not bound by fluctuating market rates. However, changes in token prices still reflect in the disconnected AMMs. So, how does that happen? 

It turns out that arbitrageurs manually adjust AMM prices by purchasing underperforming assets or selling the overpriced ones until the AMM prices reflect the external market prices. Not seeing how that relates to impermanent loss? Well, that's because arbitrageurs customarily choose to make their profits from the invested assets of liquidity providers. That shortage is called impermanent loss. 

How to Mitigate Impermanent Loss

To avoid impermanent loss, the more advanced traders have taken to keeping hawk eyes on any flux in AMM prices, with their intentions clearly geared towards avoiding losses. Of course, there are less hectic ways to inhibit impermanent loss. One is to regulate the price divergence.

If the token price difference between pieces in the AMM and the external market is the driver for impermanent loss, then minimizing that widening gap is crucial to relaxing the risk of impermanent loss. 

As long as AMM tokens don't run out of commission and the relative prices of both external market tokens and AMM tokens remain consistent with each other, there's no need for arbitrageurs in the equation. Liquidity providers can then start thinking about earning money from their trading fees. To prove that theory, tokens that retain a consistent price range (with respect to the external market mirror assets) always turn out to be an effective repellent for impermanent loss. Of course, these systems need to be appropriately optimized for the profit of the liquidity providers. 

This means that providers must always withhold an amount designated to be a 'backup asset' when they're thinking of investing liquidity in synthetic tokens and stablecoins. Many developers have created Chainlink price oracle integrations to peg reserves for liquidity providers and maintain the AMM token price in stasis. They only change with respect to the external market prices flux based on the readings of the oracles, which means bye to the arbitrageurs. 

By using such a design, liquidity providers can fearlessly invest in volatile tokens again without fear of impermanent loss, just as much as they would with stable tokens. And this rules out the defensive move of holding synthetic assets when one would otherwise stake, which can even be a 100% liquidity provision for token exposure in AMM. 

Bottom Line

As long as the problem of impermanent loss is mitigated, liquidity provision in AMMs can relaunch towards its true potential. On that foundation and through investors with the latent capital to actually make it a passive market, the newly improved and risk-minimized AMMs can now truly become the biggest answer to catalyzing the growth of decentralized liquidity. 

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Yield Farming Defi Insights for Beginners

Yield Farming Defi Insights for Beginners

Agricultural yield refers to the amount of food harvested. Likewise, followers of the DeFi movement have created the term “yield farming” to refer to a similarly exponential growth of interest on a foundational cryptocurrency stash. These yields come about when assets like USDT, USDC, and Dai are utilized on a DeFi platform such as Compound.

The introduction of a distribution system for the COMP governance token by Compound has further blown up the relatively new yield farming space, completely transformed the field of DeFi, and definitively made Compound the biggest DeFi project. The COMP token is now by far the most valuable DeFi token owing to the swift and massive migration of traders to the Compound platform for COMP “farming.”

Yield farming is this year’s most significant “discovery” in DeFi. It has caused several crypto enthusiasts to shift their focus to yield farming activities via DeFi projects like Sythetix, Balancer, and Curve. However, the ideas surrounding yield farming are not entirely new, but the sudden widespread realization and interest in them definitely is. 

For better understanding, let’s delve deeper into some of the hottest yield farming tokens and trends.

COMP Farming

The Compound platform is providing a four-year “liquidity mining” offer for liquidity providers. The aim is to reward all borrowers and suppliers of assets on the platform via a proportionate allotment of COMP within this period, with 2,880 tokens allocated daily. This new approach is drawing in a lot of traders who are transferring their crypto assets to the platform to yield-farm COMP allocations. 

Furthermore, some other DeFi projects are also promoting COMP yield farming in various ways. For instance, InstaDApp, a smart wallet project, has added a “Maximize $COMP mining” widget to allow users to get in on the action with a few clicks. Basically, this is mining with an advantage. Traders can deposit or borrow assets to gain more COMP. These same actions can be performed manually, but a smart wallet like InstaDApp eases COMP yield farming, and it only takes a couple of clicks.

BAL Farming

Instead of the 1:1 pools that Uniswap uses, Balancer, a newer automated-market maker (AMM), lets users create liquidity pools made up of several ERC20 tokens, which makes it more flexible. The designers of Balancer seek a completely decentralized governance that is also capable of doing some bootstrapping. Hence, the platform has just initiated its own liquidity mining campaign, with BAL as its governance token.

So far, 100 million BAL tokens have been minted, with up to 65 million allocated to reward liquidity providers. Currently, 145,000 BAL tokens are distributed to Balancer’s liquidity providers every week, which has attracted a lot of traders interested in yield-farming BAL rewards.

sUSD Liquidity Trial

In March this year, Sythetix commenced its own incentive program for traders of sUSD, the platform’s native stablecoin, via the iearn and Curve exchange protocols. It began with a four-week test campaign aimed at distributing 32,000 SNX tokens proportionately to liquidity providers staking their Curve LP tokens.

Users were to deposit sUSD along with another supported stablecoin like Dai, USDT, or USDC into iearn and, in turn, receive an allotment of Curve.fi sUSD/y.curve.fi tokens. They could then take their tokens to Mintr, the decentralized minting hub of the Sythetix platform, and stake them to qualify for the trial SNX awards. 

The driving concept was that traders get a regular pool of APY as well as SNX incentives for supplying liquidity to the platform. It was a very appealing campaign for yield farmers to earn interests on their lodged assets and their liquid assets that they could sell instantly on any DEX and make profits.

The Curve-Ren-Synthetix Farming Meld

One other highly rewarding yield farming prospect owes to the recent partnership between Sythetix, Curve, and Ren, an interoperability project. It’s a rewarding BTC ERC20 liquidity pool set to run for ten weeks.

The exceptional set-up of the system allows users that provide WBTC, sBTC, and renBTC liquidity to the pool to earn SNX, REN, CRV (the upcoming Curve reward token), and BAL. That is nothing short of paradise to a yield farmer.

Is it really possible? Yes. Firstly, the combined teams of Ren and Sythetix have designed a Balancer pool made up of REN and SNX tokens. The pool is to generate both BAL from the liquidity mining campaign of the Balancer platform and liquidity provider rewards in BPT form, which is basically a wrap combo of REN and SNX.

Futureswap

Promoted as being adequate for both yield farmers and traders, Futureswap is a decentralized futures exchange where users also get rewarded for providing liquidity. Although the project is yet to be officially launched, a three-day Alpha test ran at the start of the year. 

In just three days of running, owing to the remarkably high demand for the platform, the Futureswap team had to shut down the test for caution’s sake. Nonetheless, those who experienced the exchange attested to its great potential. The team’s analysis reported that the high volume during the Alpha test “translated into the outperforming of holding equal value amounts of ETH/DAI for liquidity providers of over 550% annually.” Now, here’s a margin that will be sure to get a yield farmer at the edge of their seat.

Bottom Line

The realization of yield farming has transformed the DeFi arena in such a short time, and its exciting prospects will be sure to keep drawing crypto traders in for a long time. However, as with all other forms of trading and mining, there are risks involved. Yield farming comes with both smart contract risks and liquidation risks, and so you should never farm using funds that you’re afraid to lose. Curiosity is welcome, but recklessness isn’t. The yield farming movement is here to stay, and so there should be no rush.

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What Is Polkodot And How Does It Compare to Ethereum?

What Is Polkodot And How Does It Compare to Ethereum?

When discussing cryptocurrencies these days, it's hard to go without haring aboutor mentioning the Ethereum blockchain. However, a new project has some interesting potential. Originating from a co-founder of Ethereum, Gavin Wood, Polkadot has become a highly anticipated multi-chain interoperable network. 

Following his leave from the Ethereum Foundation in 2016, Gavin Wood created a new blockchain called Polkadot, with the aim of solving different problems faced by many exisiting blockchains, including Ethereum 1.0. 

Polkadot vs. Ethereum

Considering the intertwined history of both projects, it is only natural to compare them. At the basics, Ethereum, from a developer perspective, provides a platform where both logical statements and smart contracts are deployable to navigate the transfer of native assets on the Ethereum chain. On the other hand, Polkadot is meant to provide a platform where various blockchains are connectable, as well as a framework that makes building your own blockchain possible and easy. So as far as similarities go, on a basic level, the major design aim of both Ethereum and Polkadot is to enable developers to create their own personalized, decentralized applications. 

In detail, the Ethereum and Polkadot platforms have their individual strong points. One of the most obvious strengths of Ethereum is its all-encompassing ecosystem, but this comes at a price – scalability, which refers to how transactions are processed at a limited rate. 

Ethereum 1.0 uses a structure consisting of a single-chain where each node must individually authorize all transactions. Ethereum 2.0 aims to tackle this problem using a main chain termed the “Beacon Chain”.

Polkadot uses a similar yet different sharding method, in that it consists of a main chain termed the “Relay Chain,” and the shards (called parachains in Polkadot) can process transactions in parallel. But unlike the Ethereum sharding method, the parachains do not use a uniform rule for state-changing but independently initiate state changes. A simple way to understand this is to think of the main chain as a multi USB connector where, for the Ethereum blockchain, you can only plug in a specific type of USB type, while Polkadot allows for more. 

That brings us to the effect of the level scalability that both blockchains offer. The lack of flexibility of shard connection in Ethereum makes interoperability nearly impossible, and, as such, only predetermined shards can join the Ethereum ecosystem. The reverse is the case for Polkadot as bridge parachains effectively enable developers to connect to external blockchains, including Ethereum.

It’s increasingly clear that Polkadot aims to do everything possible on other blockchains with the added benefit of seamless movement of assets between other chains, among other things. One of its major strengths over other blockchains for developers is the use of the development framework – Substrate –which effectively helps with facilitating easier blockchain development. 

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PARSIQ vs. ZAPIER: Automation For Repetitive Blockchain Tasks

PARSIQ vs. ZAPIER: Automation For Repetitive Blockchain Tasks

Start-ups, managers and even freelancers use various web applications regularly. Using these many applications and processes can become tasking, inconvenient and repetitive. In a bid to find convenience and an easy way out, many people have found refuge in automation tools. 

Zapier is an automation tool that serves as a bridge between many business web applications. But in the fast-moving world of blockchain processes and transactions, Zapier is handicapped to certain functionalities. And that’s where PARSIQ steps in. 

What is PARSIQ?

PARSIQ is a blockchain monitoring and workflow automation tool that serves as a multi-level bridge between blockchains and off-chain applications. In simpler terms, PARSIQ is a platform built for everyone – institutions and merchants alike – that allows users to monitor transactions and automate workflows in real-time. With PARSIQ, you can automate repetitive blockchain tasks and connect blockchain transactions, data and events with many web applications, platforms, services and channels.

PARSIQ vs. Zapier for Blockchain Applications

Unlike Zapier, the PASIQ platform is a tool that gives its users a means to apply “if-this-then-that” logic to connect workflows between blockchains and off-chain applications. 

PARSIQ offers a great advantage in the blockchain world. With it, anyone can monitor and manipulate blockchain data streams, which is impossible with Zapier. The PARSIQ tool also helps existing businesses get integrated with blockchain Infrastructures, fueling manipulation and automation for blockchain-specific asset management. 

When it comes to seamless and easy design, the PARSIQ team has done a marvelous job. And they are constantly improving and upgrading the PARSIQ tool to make it even easier for users with little technical knowledge, enabling them to create workflows quickly with just a few clicks. 

PARSIQ also boasts strong security, to the core of checking the addresses of funds and zeroing on the blacklisted address. Although it is a blockchain-based tool, PARSIQ also helps individuals and businesses alike to simplify accounting, tracking of portfolios, and financial reports, especially with its recent Google sheets automation. 

According to the founders of PARSIQ, they understood that many cryptocurrency-related businesses didn’t see a need to carry out in-depth investigations as to the sources of the funds they process. All they wanted was a way to track assets in real-time and to ensure that the funds are legitimate. This gave rise to the game-changing idea of PARSIQ, which is helping millions to monitor and automate their blockchain workflows in real-time. 

With the many benefits and advantages that come with PARSIQ, the developers have also managed to give out most of its rewarding functionalities for a low and rewarding fee subscription. In terms of pricing, Zapier and PARSIQ are very similar in their professional offers. This is another wholesome advantage from PARSIQ, seeing as it seamlessly bridges the gap between blockchain and business. 

Bottom line

Although Zapier is an effective automation tool that helps its users daily to close the gap between business web applications and automation, it is quite limited in the ever-evolving world of blockchain and blockchain transactions. The PARSIQ tool carries all the automation functionalities of Zapier and is also effective in impacting and connecting blockchain applications.

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Ivan on Tech Stack Sats Webinar Review | Should You Attend

Ivan on Tech Stack Sats Webinar Review | Should You Attend

Are you interested in or already into Bitcoin trading and looking to accumulate more coin by buying, earning, or mining? 

Sign up here

What if you found out that there’s a proven method to stacking massive sats (or “satoshis,” the smallest unit of Bitcoin), and you can learn it without having any prior experience or expertise? In fact, this webinar aims to teach you just that. These are sure secrets coming first-hand from an expert.

The beauty of sat stacking is that you don’t have to break the bank to achieve a stack that makes you smile in your sleep. Ivan “On Tech” Liljeqvist will teach you how you can cut unnecessary expenses and build up your Bitcoin stack over time until it grows beyond your wildest dreams. 

Stack sats in your sleep!

The success of effective sat stacking lies in its consistency. By regularly and steadily accumulating small amounts of coin, you can grow a massive Bitcoin asset. 

When you consider the figures (1 Bitcoin = one hundred million satoshis), it may seem like a long haul. But with these proven techniques, you’ll find that your goals are not at all far from reach. In fact, for some reason, it’s better to look at it the other way around: 1 satoshi = 0.000000001 Bitcoin. There! By stacking enough sats per day, you’ll have a substantial stash before you know it. All it takes is a first step. And your first step is right before you. Attend the Stack Sats Webinar and gain insights to change your life.

This webinar will teach you the secrets to success with any cryptocurrency of your choice. Learn how to:

  • Generate a steady income: A lot of people have lost a lot of funds while “investing” in cryptocurrencies without sufficient knowledge of how things work. Learn how to beat mistakes and optimize your returns on any crypto investment.
  • Make the most out of any market: Action time! While many wait around dreaming of opportunities, step up, and make it happen. Learn to build wealth regardless of the conditions of the market at any point in time.
  • Create a rewarding blockchain career without being a developer: Yes, you can develop a career in blockchain without being a developer. 

Cryptocurrencies have revolutionized the global financial landscape forever, and those with foresight are always a step ahead. Here is an opportunity to put yourself ahead. And it’s completely free! What are you waiting for?

The catch

The webinar is completely free, no strings attached, and an expert, Ivan “On Tech” Liljeqvist, will teach it. The only catch would be that there are only 300 slots available. So hurry and sign up now to reserve your attendance. 

Bonus point!

Sign up as an affiliate of the Ivan On Tech Academy and get your leads into the webinar Stack Sats Webinar and get a commission for those that convert. Also check out other insightful webinars and courses by Ivan “On Tech” Liljeqvist, including blockchain programmer courses and Ethereum developer courses, and raise your commissions!

Sign up for the webinar here

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7 High Commission DeFi Affiliate Programs You Should Sign Up For

7 High Commission DeFi Affiliate Programs You Should Sign Up For

For a while now, access to passive income has defined those who can achieve their dreams and those who cannot. On the one hand, some still think putting in hard work will earn them that dream vacation to the Caribbean, the other group are smartly selling their time to make sure they get on the next plane there.

Over the past decade, the latter school of thought has produced too many success stories to count, with smart investments producing millionaires without number – a great percentage of which have come from the advent of Decentralized Finance (DeFi).

As cryptocurrencies gain value with each passing day, all it takes to be successful is to attach yourself to a working model for DeFi passive income to rake in some cash while you sleep.

Here are the seven hottest DeFi affiliate programs you can check out today.

#1 Universal Liquidity Union

The bridge to every coin Visit here

ByBit

ByBit has soared in popularity over the past few years, with the ByBit’s DeFi affiliate program social media marketing campaign turning up as a huge success among derivative cryptocurrency exchanges. The $90 welcome bonus makes joining an easy choice, while the pyramid-strategy for its DeFi referral program has made moneymaking even easier for ByBit affiliates.

ByBit affiliates make referral earnings not only from people they refer directly but also generations of people referred by their referrals. Affiliates at the third level get 10% off trading fees, and extremely successful affiliates that bring in high-volume traders get commissions that could reach 35%.

Ledger

One DeFi affiliate program that places your future in your hands is Ledger. As the premier DeFi affiliate program right now, Ledger affiliates enjoy conversion rates exceeding 50%, which is directly beneficial since they get a dollar commission for every 10 dollars sold. 

Also, depending on whether the affiliate joins directly or not, you can choose how you earn. Using the Awin.com registers your earning in cash while using the direct Ledger DeFi affiliate program records earnings in BTC. The payout must reach a $50 threshold before affiliates can withdraw.

Visit Ledger here

Paxful

Originally a trading platform for cryptos, Paxful has recently developed a friendly platform for affiliate earning. The Paxful affiliate team has a pleasant reputation for improving the experience, and their DeFi referral program pays out 10% in commissions for every level 2 bitcoin purchase that an affiliate refers. That generous system lets you in on commissions from the referred purchases that affiliates you refer would normally only benefit from. Affiliates also get to keep half of the exchange fees when a referred buyer orders bitcoin through the Paxful platform, so there are many ways to get income.

Visit Paxful here

Coinbase

Being the first bus stop for the majority of people’s first foray into cryptocurrency certainly has its perks. Chief of them is the fact that affiliates can guide the newcomers to their benefit – which is worth 50% in commissions for trading fees done within the first 90 days after joining the Coinbase affiliate program.

There is no cap on the number of referrals. While you enjoy the customized DeFi referral program campaign reports and tracking, you continue to get 10% of every purchase from your referred purchases.

Coinmama

Reliable is not a word you throw around in crypto-space, and that’s why Coinmama is worth her mention in this list. Since its launch in 2013, the Israel-based crypto exchange platform has become a reliable moneymaker for crypto enthusiasts. Coinmama offers a lifetime exchange commission of 15% through an in-house DeFi affiliate program on its web application. The fact that the commission on trading fees is valid for a lifetime more than makes up for the numbers that might not be as impressive as the competition. Coinmama’s worldwide appeal – Coinmama boasts support in more than 189 countries – can prove to be a good platform for any DeFi referral program you’re looking to stack sats with.

Changelly

Changelly has as many platform users as Coinmama despite joining the cryptocurrency exchange market much later, which is a testament to Changelly’s excellent experience. The round-the-clock live support, transparent rates, and easy-to-use platform make the DeFi affiliate program an easier choice for people looking to get more from DeFi.

Changelly also presents an irresistible offer in her DeFi referral program - Affiliates earn commissions at 50% for every referred user. Even popular media channels like Coin Gecko and CoinTelegraph have found that offer hard to pass up.

Visit Changelly here

Trezor

Trezor is a hardware wallet like Ledger that allows you to store cryptocurrency assets offline. Affiliates find Trezor an excellent DeFi affiliate program, despite its averagely impressive 12% commission on referrals, because of how popular Trezor is in crypto-space. After all, everyone in the crypto market will need a hardware wallet at some point, so being an affiliate of the most popular one is not a bad idea.

These seven DeFi affiliate programs have kept up good work for a respectable period, although some new names like the upcoming HASHWallet affiliate program may likely give them a good fight soon enough. Until then, make the most of them!

Visit Trezor here

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6 Most Profitable Yield Farming Platforms – Blockchain Cryptocurrencies

6 Most Profitable Yield Farming Platforms – Blockchain Cryptocurrencies

The latest craze in the finance world is undoubtedly cryptocurrency. The monstrous growth of Ethereum and Bitcoin assets over the past year has become the only shining light in what the Queen would have already (but understandably) written off as an ‘Annus horribilis.’ 

The doubters have become blind believers. And even newbies with no idea of what tokens are, assert to their friends and families that cryptocurrency is everybody’s path to financial freedom. 

Of course, while they might be right that the future is here, the end to that story is predictable by now. If these people don’t find the true source of the crypto heat – yield farming – it will be another sad tale of falling victim to the numerous get-rich-quick schemes out there. 

Indeed, yield farming is one of the few channels that offer the window of opportunity for investment in crypto in the craziest of ways. Either by lending or borrowing, many people have figured out ways to take advantage of yield farming. On that note, here are the six farms that currently yield the most:

Compound

One doesn’t rant about yield farming post-lockdown without paying tribute to the legendary DeFi Comp tokens. Since her debut on June  15, 2020, the value of the tokens has risen as high as $200, shocking Compound’s team and investors, and that momentum is not looking like it will run out of steam anytime soon.

The Compound protocol banked on creating activity on the platform by just giving away the tokens daily, and the world responded. After all, who wouldn’t develop an interest in a deposit that yields benefits even if you were the one taking the loan? What’s better? You can stack the yields by lending out what you borrowed from what you had initially lent out, all to multiply your yield — a true game-changer in the world of ‘Compound’ interests.

Visit compund.finance website here

Universal Liquidity Union (ULU)

The bridge to every coin visit here

Binance

Unlike Compound, Binance is a crypto margin lending platform. That means it serves as the emergency reserve for traders looking to open leverage positions that will require more capital than they can afford at the time. Binance offers people with idle cryptos the option of giving out loans at ‘meh’ interest rates (around 0.83% for ETH).

Margin lending is a volatile business since the yield fluctuates based on the demand and supply of the loans. Then again, which part of cryptocurrency isn’t watery?

BlockFi

If you’re looking for a more profitable yield farming platform than Binance, then BlockFi is the fastest solution. Simply put, BlockFi offers 4.5% interest rates for ETH loans (where Binance offers 0.83%) and 6% for BTC (where Binance offers 0.75%). The only minor drawback is that BlockFi is a lot stricter than their counterparts, requiring KYC validation, among other certifications that can be such a hassle. Get through all that, though, and you get better deals.

NEXO

Another alternative to margin lending platforms is NEXO, which uses a centralized lending system. The centralized nature of the loan origination makes the interest rates more stable since the stability puts the interest rates out of the hands of market forces and under the control of the system. For the lenders and users, that’s great news as it affords greater interest rates.

COSMOS (ATOM)

People more adept with the nature of cryptocurrencies can venture into the world of stakable currencies. The deal is that by helping a blockchain to stay secure (or by ‘staking’), you get rewards. COSMOS is one of the big boys in that world, and the platform has amassed a serious following in the past year, with its 8.3% interest rate drawing people in by the minute.

Synthetix

Compound might be the hottest player in the DeFi Universe right now, but it all began with Synthetix. Right now, Synthetix accounts for more than one billion dollars locked away in their crypto vault. Staking a blockchain is a way of earning greater investments in currencies with potential, and thus, requires absolute caution. but the 53.79% interest rate that Synthetix promises has made millions of people throw their caution to the wind.

So, there they are, the biggest yield farms waiting for you to sow your financial seeds. The probability of success and failure is as predictable as the number of times you’ll blink tomorrow, but what’s life without a little risk?

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