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Alternate cryptocurrencies / Altcoin Discussion / Re: Bittawm Defi Platform Review - Alpaca Finance - https://www.alpacafinance.org/
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on: August 02, 2021, 08:00:24 AM
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Step-by-step guide on how to leverage farm stablecoins on Alpaca Finance
1. Register a MetaMask account
A. Download Metamask for Chrome on https://metamask.io/ (you need to be using Chrome or Brave browser)
B. Follow the instructions to create a wallet, create a password, and write down your Secret Backup Phrase.
2. Add the Binance Smart Chain (BSC) network to your MetaMask
A. Follow instructions here: https://academy.binance.com/en/articles/connecting-metamask-to-binance-smart-chain
3. Deposit some BNB (e.g., 0.01 BNB) and stablecoins (e.g., USDT, BUSD, USDC, TUSD) into your MetaMask wallet. BNB is needed to conduct transactions, which costs ~$0.10 each. You can do this through several ways:
A. Via Binance. Register a Binance account (this may take several days to weeks). Deposit fiat (e.g., USD) from your bank into your Binance account. The USD is automatically converted to BUSD. Buy BNB on the exchange. Transfer the BNB and BUSD from Binance to your MetaMask address (more info here: https://crypto-explained.com/services/send-bnb-coin-to-binance-smart-chain-on-metamask)
B. Via a bridge from another blockchain, such as Ethereum or Polygon. If you used Ethereum or Polygon, we’ll assume you know what to do.
C. Via any other platform that supports BSC. There are numerous fiat onramp platforms. These platforms need to support BSC integration for you to transfer stablecoins or other tokens to your MetaMask address.
4. Go to Alpaca Finance and open a stablecoin-stablecoin farm, following this step-by-step guide: https://docs.alpacafinance.org/our-protocol-1/step-by-step-guide/farm. Alpaca currently offers several stablecoin-stablecoin farms using BUSD, USDT, TUSD, USDC, UST, and VAI. Farm at maximum leverage to gain the most yield.
5. Sit back and enjoy earning 10-40% interest on your stablecoins
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54
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Alternate cryptocurrencies / Altcoin Discussion / Bittawm Defi Platform Review - Illuvium - https://illuvium.io/ - FIGHT FOR ETH!
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on: July 28, 2021, 05:56:29 AM
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I am an advocate for Defi and disruptive tech, for some insight go here:
Bittawm's Intro to Liquidity "Mining." The new most profitable form of mining?:
https://bitcointalk.org/index.php?topic=5349340.msg57463821#msg57463821
 I present to you a true masterpiece, something super special........ Illuvium!Platform Name: Illuvium
Native Token: ILV : https://coinmarketcap.com/currencies/illuvium/
Chain: Ethereum
Telegram: https://t.me/illuvium
Docs / Whitepaper: https://docs.illuvium.io/
Website: https://illuvium.io/
This is going to be big!
This is not financial advice and I am not a financial adviser.....however...... SELL YOUR FAMILIES AND BUY ILLUVIUM
Let me tell you why I consider this so special, and why I expect massive gains:Illuvium is built on encompassing disruptive technology and high growth industries
1. Blockchain Gaming: Blockchain gaming is going to be more prevalent in the gaming industry, and it is evolving rapidly. Users will actually have the opportunity to monetize their time playing and own in-game assets. Pretty incredible stuff. Empowering the players!
2. Decentralized Finance (Defi): It is no surprise that DeFi is taking the world by storm at the moment, It is producing incredible life changing opportunities. You can currently earn some fantastic rewards on the Illuvium yield farm. More info here: https://staking.illuvium.io/
Illuvium is a DAO (decentralized Autonomous organization ) The projects direction will be determined based by the governance of the ILV token holders.
Please note that the longer you lock your yield farming the larger the APY %.
3. NFTs: The artists at Illuvium were poached from world-class studios in gaming, cinema and entertainment. They have already produced some of the most incredible, beautiful NFTs available right now. The Spartan Squizz is my favourite... look how incredible it is. (click the link here to see the moving version: https://imgur.com/Nr9RI1x)
This project is truly the trifecta when it comes to new, disruptive, and high growth industries. I expect to see massive growth out of this.
What is Illuvium and how do I play?
Illuvium is an RPG and Collection Game built on the blockchain.
You are basically a monster hunter set out to capture creatures called Illuvials, some rarer than others.
Players use "shards" to capture / collect Illuvials.
Illuvials (of the same type) can be fused together to form even more powerful Illuvials with different abilities. You can fuse rare Illuvials together to form even rarer Illuvials.
Illuvials will have affinities which are the basis for their abilities. Affinities are elemental. Water, Fire, Earth, Air and Nature. Once ascended, these affinities can be matched together to make mixed or more powerful affinities. For example air + water = frost, fire + fire = inferno.
There are also 5 types of classes for Illuvials (fighter, guardian, rogue, psion and empath). As with affinities, once ascended, Illuvials can mix the classes to create new classes. For example fighter + rogue = slayer.
Not all alien biomes (the regions in the game) will be accessible without first unlocking "Obelisks.” If you put the time, you can discover a way to unlock an Obelisk, and gain access to new areas, with new illuvials to capture and collect.
As players capture Illuvials, capture rates on those illuvials will change. Over time they will become harder and harder to get, increasing rarity.
Users collect Illuvials, shards, imbues, weapons and armor by playing the game. These items can be used to enhance your gameplay or sold on the Illuvium Exchange (IlluviDEX).
Players use their capture Illuvials to battles other players in competitive arenas. Winning will ultimately earn you ILV.
Illuvium vs the competition:
I have been watching the blockchain gaming space closely. Axie Infinity has been getting a lot of attention lately... Let me tell you, Illuvium is far superior to Axie infinity.
Please see the comparison chart below that shows how much more substance it has. It is the fair, transparent blockchain game for the people!
Please note I did not create this table, I found it on the Illuvium Discord. The market cap figures have changed slightly since this table was created, however it still paints a pretty clear picture that Illuvium is currently heavily undervalued, but has the right foundation to blow Axie out of the water.
Conclusion:
In a nutshell I compare this game to an online, better, alternative version of pokemon.........on the blockchain........on steroids......Where players can monetize their game-time and collectibles. Do not miss this opportunity to be part of this revolutionary gaming experience.
Remember to always do your own research! As mentioned I am not a financial adviser, never invest more than you can afford to lose!
This game is scheduled to launch in public beta in late Q4. This is a chance to be early to the party, and this is the prime time to invest!
I have personally invested thousands into ILV,
I am staking all of my tokens at https://staking.illuvium.io/
I believe in this project so much I am locking my rewards for the maximum amount (365 days) for increased yields. Please see below:
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56
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Alternate cryptocurrencies / Service Discussion (Altcoins) / Re: Bittawm's Intro to Liquidity "Mining." The new most profitable form of mining?
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on: July 27, 2021, 08:15:13 AM
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~ The kicker is these protocols often will give you additional token rewards (denominated in their tokens) to incentivize participation,
I've lost count of how much I've harvested so far but it's been pretty beneficial to me. A lot of the money I've been using for paying bills and investing in other coins/token comes from here. Now let’s take a look at some of the issues Liquidity miners face:
Rugpulls and unsafe platform operators:
Some platform operators are straight up thieves (much like hardware scammers). It is important to assess the risks involved with each platform.
Gotta add security as part of the issue. I got some money on platforms that were exploited from flash loan attacks. totally on the same page. I have made some crazy profits on some of these yield farms. Granted I lost money when I started because I did not know what I was doing I consider alpaca finance one of the safest having so much locked in TVL and giving the opportunity to leverage farm with stablecoins |
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57
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Other / Meta / Re: Should we be able to post about liquidity mining here?
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on: July 27, 2021, 08:10:17 AM
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It is easy to mitigate IL if you pair mirroring assets such as stablecoins or btc/btcb for example.
This section is the mining section and it is legitimately called liquidity mining.
it is not your traditional form of mining but still called mining none the less
How much do you earn with providing liquidity for stablecoins however? Generally the yearly APY for Tether is around 10% and it seems its the same with liquidity mining however the risk seems much higher. Plus these are smart contracts and who knows, Uniswap might have some bug which results in everybody losing their funds. Hasn't happened yet but look what happened with ThorChain and Rune the past month. Seems every couple weeks or so we hear of some smart contract getting exploited and people getting their money stolen. What website do you use to get quotes for the most accurate yields? Check out alpaca finance on BSC: https://app.alpacafinance.org/farmyou can get anywhere from 15-40% using leveraged yield farming on alpaca finance. It has been pretty incredible for me |
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58
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Other / Meta / Re: Should we be able to post about liquidity mining here?
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on: July 25, 2021, 07:59:19 AM
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just because it has some "mining" on it doesn't necessarily means it's the same thing. i'd suggest you post about it on the altcoin discussion or service discussion if you're talking about a specific provider. the way it works are way to different from traditional mining, it's just called the same thing to make promotion easier imo.
the thing is, I am not talking about one specific provider. I want to educate the community so they can make some returns and experience what I have experienced. I have mined significantly more than the average miner and liquidity mining is putting hardware mining to shame. Just saying I want to help the community |
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59
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Other / Meta / Re: Should we be able to post about liquidity mining here?
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on: July 25, 2021, 04:02:28 AM
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I don't think this is the right category because you are referring to providing liquidity in a pool to generate interest correct? Maybe services discussion would be a more ontopic category. Either way, unless it gets moved we can discuss it here.
I looked into this before because I used to make great returns just by doing a cash and carry with the bitcoin/ethereum futures, basically at the beginning of the year, they were paying out something like 25% APY with the longer Sept/Dec 2021 futures expiries. Then when bitcoin started to correct, the funding turned negative and right now there is no way to earn money this way.
So I looked into earning with DeFI pools. However I had 3 concerns. First one is to use Metamask you can't have proper cold storage (unless you got a hardware wallet). Second is the impermanent loss that you discussed before, basically the higher APY have a high chance of this happening and the lower APY doesn't provide much interest, like stablecoins.
Third issue is that the APY calculators for the highest yield, aren't accurate. They say something like 5% a month but in reality you gain maybe 1%.
yes I am referring to providing liquidity. As you know I am an old time miner, but my defi returns are putting any mining returns to shame. It is the most lucrative opportunity I have ever experienced since the early stages of buying BTC. It is easy to mitigate IL if you pair mirroring assets such as stablecoins or btc/btcb for example. This section is the mining section and it is legitimately called liquidity mining. it is not your traditional form of mining but still called mining none the less |
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