🏈 The Athlete That Gave Up Millions To Build A Sports Media Empire 💰 – Been enjoying the Huddle Up newsletter and this was an awesome story (the YouTube at the end was cool).
⚖️ Proof Of Liquidity, Joel Moegro. I’ve been thinking about uses of Balancer Pool Tokens (BPT) and it was interesting to see this – When you add assets to a pool, you receive ERC-20 BPT tokens in that pool proportional to your contribution. In Joels example you use these tokens to stake. The staking service can ‘look through’ the BPT to see how much of the required token you’re staking. In the meantime the pooled tokens are providing liquidity and the stakers assets remain balanced to the original pool weights. Seems like a lot can be done with this kind of idea…
I’m an NHS doctor – and I’ve had enough of people clapping for me – Strange, confusing times and this captures a bit of how I feel.
⚖️ “Honestly, there’s another way to look at it from the low cap perspective. If you hold onto the low cap, and it moons on very low volume/liquidity, then you likely won’t even be able to sell it at the top. There just won’t be enough liquidity. But if you provide liquidity in a pool, and your pool comprises most of the global liquidity for that low-cap token, then when it moons you can simply withdraw your liquidity and you’ll have way more ETH or USDC or whatever than you started with. It’s basically a unique way of selling a bunch of those tokens on the way up whereas you may not have even been able to do that if you were trading on someone else’s illiquid market.“
⬆️ Balancer community member, @rabmurat posted that message on Discord and it provided some interesting confirmation for something I had been thinking –
- Assume stable DAI price
- 📈💩⬆️ Market shitcoin price goes up 10%
- 👀 Arbitrageur sees opportunity
- 💲➡️⚖ ️➡️💩 DAI in to pool shitcoin out
- ⚖️💩⬇️ Bal pool shitcoin price goes up to market price
- Pool now has more token and less DAI
- How to choose weights? High shit % means keep more shit but high % also means less of pair (DAI) required
- Compared to HODL?
- Impermanent loss does happen but remember HODL only works if you can actually sell at that price – is there liquidity/volume/slippage, etc?
Along similar lines this tweet was an interesting way to think about the BAL incentive mechanism – “…people can deposit their illiquid shitcoins and convert it to a new coin which might be better…”
How to create an Ethereum DeFi realtime dashboard – I didn’t realise Google scripting was so advanced.
🐂 This was a good Tweet storm by Chris Burniske with some tips on how to handle the Bull market (if it comes…)
🐂 Also some more good Bull market/general advice from Taylor Monahan.
Ballet is so cool 🩰 and this from Ballet Opera de Paris shows that working from home is easier for some!
An explainer video about the Opyn hack that shows some useful tooling. Opyn handled it pretty well I thought but also thought it kind of showed they don’t have much traction.
Memeconomics – thought this summed up the current situation pretty well but I guess time will tell.
Photo by Patrick Tomasso on Unsplash