Are You Newbie Struggling To Scale In DEFI ?? In This Thread, I've Gathered 30+ Materials & Resources To Help You Grow & Become Profitable An In-Depth Thread RT & Share For A Friend

ULTIMATE GUIDE TO WEB3 JOBS If you are yet to Land a gig in Web3 this thread is for you! A 5mins thread that'll change your life for good. ❤️ & RT

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This is a financial advice you wont get in one place. With the bull run approaching, take your time to read this carefully. It could save you a lot and guide you along the way, but still DYOR ⤷ Don't convince anyone to buy or sell anything.. you can ruin your relationships. ⤷ Don't get married to a coin it will break your heart. ⤷ Remember that the coins at the top won't be there forever.. most change every bull run.. ⤷ Buy when volume is low and everything is red. ⤷ If a YouTube personality is talking up a coin, they have already bought the coin.. have been paid to promote that coin, and you are their exit liquidity. ⤷ Don't keep eth in a wallet with other coins.. you can more easily have your wallet drained. ⤷ Don't send your wallet address over Twitter or other social media.. you will attract the attention of scammers. ⤷ Don't buy when volume is high and everything is green. ⤷ Don't click on free nfts that were sent to your wallet. ⤷ Don't click on anything in your emails saying that your crypto account is compromised.. ⤷ Backup your 12 or 24 word wallet in writing.. do not back it up onto the cloud or a word document on your computer.. ⤷ Use an authentication app like authy or Google authenticator.. and not sms authentication.. if possible. ⤷ Have another phone with your authentication app on it.. just in case you lose your main phone. ⤷ Remember that everything is a scam and it's pvp not pve. ⤷ Understand market caps and probability. ⤷ Pay attention to the news, but don't believe it. ⤷ Keep learning. Never know anything. ⤷ Assume that anything you put in will go to zero. ⤷ It's easy to buy, but it's hard to sell.. ⤷ Have a plan to enter. ⤷ Have a plan to exit. ⤷ Test wallet sends with small amounts. ⤷ With exchanges.. read all documents and agreements that you are entering into.. make sure they have liquidity.. check CMC or CG ⤷ Verify price of coins in multiple placed not just the exchanges or dex. ⤷ Understand that you won't learn anything I just said until it's too late. Good luck

I can see a couple hundred new followers. Sorry to burst your bubble, guys, nobody is teaching you Web3. No worries, though-open this🧵↴

LENDING & BORROWING - How to make the most, while preventing stories that touches. ELI5 for Beginners & Pros From a perspective of someone that's used Money Markets across multiple chains Many are probably familiar how time-taking and strenuous this works in TradFi. From the application process to the several documents required before borrowing is approved leading to delay in accessibility to funds. It is even more cumbersome when an individual happens to be the borrower, facing rigid eligibility requirements (such as the need for a credit history, collaterals, credible guarantors, et al), high interest rates on loans, and several hidden fees attached to loans. In contrast, DeFi provides a solution by utilizing smart contracts as opposed to TradFi—mediated by financial institutions. The process is facilitated using vaults—where users deposit assets as collateral into (on their protocol of choice), earn interest (depending on the market’s current APY), or use this collateral to borrow against other assets (e.g supplying $ETH to borrow USDT or supplying $BERA to borrow $NECT on @beraborrow). Users can decide to over-leverage their position (similar to longing an asset), and sometimes for max yield (depending of the supply/borrow APY) by supplying again the borrowed assets and borrowing against it (looping), repeatedly. This strategy is effectively used when farming a protocol by; - depositing a less volatile asset (i.e stablecoins like USDT, $HONEY or $NECT) - borrowing another (less volatile) asset against it - then redeploying this borrowed asset and repeating the process, to amplify the Net Value or Volume on the protocol. Getting started, there are a few concepts you "must" understand (to avoid stories that touches). Also note that different protocols sometimes utilize different terminologies/buzzwords to represent similar concepts, making it seem confusing at first. Some of these concepts act as a risk management mechanism for both; the protocol - to prevent issues that'll cause a liquidation cascade across board the users - to manage and adjust their positions if needed to avoid being liquidated Understanding and monitoring these will help you (either as a lender or borrower) make informed decisions. 1/ Borrow APY - This is the annualized interest you pay on your loan (daily, weekly or monthly depending on the platform). The rate for this can either be “variable” or “fixed” during the borrow duration. For instance, if you borrow $1000 worth of $NECT with 3% APY, you owe the platform 3% of that borrowed amt, annually as interest. 2/ Supply APY - As opposed to Borrow APY, this is the annualized return you earn for supplying an asset (providing liquidity) in a vault. The interests that borrowers pay are then distributed proportionally to the liquidity providers (YOU). The APY for this are also dynamic as there are factors that determines this, for instance the Utilization Rate of the asset supplied. For instance, if you supply $1000 worth of $BERA, with a 5% supply APY, you earn ~$50 BERA compounded over a one year period (if APY remains constant or stays around that range) 3/ Utilization Ratio - basically showcases the % of the supplied collateral that’s been utilized (borrowed). A high utilization ratio means that majority of the assets supplied have been utilized, leading to higher return for lenders. For instance, a low utilization ratio is the inverse of high. When assets are supplied during this period, returns are usually lower as opposed to when the utilization ratio is high. Protocols implement mechanisms to auto adjust and create a balance by discouraging excessive borrows when this ratio is high and encourage users to repay their loans, and vice-versa. 4/ LTV (Loan to Value ratio) - the % of your collateral (the supplied asset) you can borrow. For instance, a 75% LTV on $BERA means, if you supplied $1000 worth, the max you can borrow against it is $750 worth (of any asset of choice). 5/ Borrow Limit - Similar to LTV, it’s the max value of your funds you can borrow. 6/ Borrow Power - Similar to LTV, it’s the % of your total borrowing power that's used. For instance, having a 100% Borrow power used, means you can no longer borrow. 7/ Health Factor - If the health factor of your position goes below or equals ≤1, it means you have used up your borrowing power and your loan position may be liquidated soon. If price of your collateral drops further, your collateral value drops too, leading to the Health Factor going below <1 Maintaining a loan position above >1 or way above the threshold is safer, should incase an event happens that triggers sudden downward price movement, you also have enough time to adjust manage your position. 8/ CR - Collateral Ratio - Similar to Health Factor, CR represents the "%" of your collateral value compared to your loan. CR is calculated by - (Collateral ÷ Your loan amt) x 100 These are the few key concepts and like I mentioned earlier, protocols sometimes utilize different concept/terms. For instance @beraborrow on Berachain uses CR, and plans to implement a toggle for users to easily switch between either using “LTV” (just like on Kamino) or switch back to using default “CR, MCR, CCR, TCR”. A good move if you ask me. Understanding Money Market Risks There are several risks involved esp with new protocols that could affect both the user & protocol. Some of these risks includes; Assets depegging, Oracle price anomaly, Contract Vulnerabilities, Liquidations, et al… and understanding the strategies in place by these protocols to mitigate these risks will help you filter & decide which protocol to put your big bag in--again to avoid stories that touches. Some of the things I take note of includes; 1/ Audits - Who are the auditors? How often are they audited? Are there bug bounties in place? There are several solid auditing firms out there, these are a few solid ones I know - @PaladinSecurity, @ConsensysAudits, @CertiK, @certora, @osec_io, @BlockSecTeam, @code4rena, @GuildAudits, @_SEAL_Org, @xyz_remedy (erm not sure if xyz audits). 2/ Oracle - Oracles are basically messengers that provides data fro Which oracles does the protocol rely on for its price feeds? Are they trusted? Decentralized? Using a single source for price feed could cause a liquidation cascade if the Oracle gets exploited or experiences price anomaly. Most times it is safer when a protocol source data from multiple trusted (decentralized) Oracles. For instance, @beraborrow sources it's price feed from Oracles with the most TVL secured for each specific assets + a combination of different Oracles such as @redstone_defi, @PythNetwork, Chronicle. 3/ Collateralization - How overcollaterised is the protocol generally? What threshold are positions liquidated? Are there caps to certain (volatile) assets and how is exposure controlled? 4/ Smart contract risk - For many protocols, LSTs can be used as collateral, and these are usually issued by another team (or rather, smart contracts outside the protocol). It’s safer to DYOR about new LSTs and technically the reliability of any new assets you’re supplying (or borrowing) with. 5/ Multisig & Timelocks - We’ve seen several scenarios recently whereby a dev wallet gets hacked, and then used to liquidate or dump a large amt of protocols liquidity/tokens. Multisig would prevent access if a dev wallet gets hacked (as it requires multiple signature to implement changed) and Timelocks to prevent immediate (malicious) actions. Speaking with the @beraborrow team, I also got to understand better their risk management/isolation mechanism, other key features (some yet to be implemented), which helped build some level confidence. PS: I use protocols building on @berachain that aligns with my post as casestudy, also as a way to support builders in the trenches with us rn. DYOR. If you intend to properly use money markets, you can start by exploring the @beraborrow dApp, it's quite user-friendly. @aave also allows you to effectively explore without using real money via sepolia testnet. There are other solid protocols across different chains, some of them include; Berachain - @beraborrow, @rootsfi, @ursafinance Solana - @KaminoFinance, @marginfi, @save_finance Bitcoin - @LiquidiumFi, @FluidtokensXBT, @ALEXLabBTC, @SovrynBTC Ethereum - @aave, @LiquityProtocol, @llamalend, @CurveFinance TON - @evaaprotocol, @aquaprotocolxyz Also Lending/borrowing isn't limited to just tokens, NFTs can as well be used as collateral, keep an eye on @KingdomlyApp. Amazing stuff otw! 😉 I hope you found this useful. Kindly RT & share to educate others. BM & furthermore Ooga Booga! 🧸

Why You're Losing Money on Meme Tokens: The Tools You Need In my last thread, I shared the best Telegram bots for trading on Solana. Now, I'll share with you the five Telegram bots I use to scan meme tokens and how I use them 🧵RT

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