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Cryptocurrency: DeFi, Farming, and Staking Megathread
- Thread starter Chee-to
- Start date
Anybody here "farming" airdrops? Currently staking SCRT to qualify for the Shade Protocol airdrop, and have lucked into a few others just messing around with stuff in the AVAX ecosystem.
Who's got eyes on interesting protocols that don't yet have a token in circulation?
Who's got eyes on interesting protocols that don't yet have a token in circulation?
Tons. Staking LUNA is yielding airdrops on pretty much every new token coming into the Terra ecosystem.
you may want to learn the language or stay ignorant and be kicking yourself 10 years down the line
play those cards right and you might be able to retire by the end of the next bull run
I'm trying, it's a lot to learn and I like to complain while I do anything difficult. It makes me laugh, then I'm not frustrated, and can work through the painyou may want to learn the language or stay ignorant and be kicking yourself 10 years down the line
play those cards right and you might be able to retire by the end of the next bull run
You guys really need to look into $TIME. This is a fork of $OHM which i another high IQ play but I think $TIME is even better. $TIME has $70,000 APY and the price of coin continues to climb. To get time, either wrap your $ETH to $WETH or get some $AVAX. Get Avalanche network setup on your Metamask and then go to Wonderland and stake. Rebase occurs every 8 hours.
$ICE is the next brain child of the same team. This ties into Popscicle Finance which is changing the game for LP's. Right now $ICE is in the $60 range but could go to $1000 and higher.
The whole magic internet money $MIM is real and will become a major stablecoin. $TIME, $ICE, and $MIM are all interconnected. https://abracadabra.money/
$ICE is the next brain child of the same team. This ties into Popscicle Finance which is changing the game for LP's. Right now $ICE is in the $60 range but could go to $1000 and higher.
The whole magic internet money $MIM is real and will become a major stablecoin. $TIME, $ICE, and $MIM are all interconnected. https://abracadabra.money/
I dont mind reading but would love to find a good youtube channel. Any recommendations? There are so many out there not sure which ones to watch. Thanksyou can learn a lot from youtube, no reading required
It is not LUNA, but rather a separate ERC-20 (ETH-based) token that’s designed to track LUNA’s value. So basically it's a mirror of LUNA. The 'W' stands for "Wrapped".
WLUNA = Wrapped Luna
Some coins operate on different types of platform technology that are not easily compatible with Coinbase exchanges. So to be able to offer the coin, Coinbase (or someone else) creates a "wrapped" version of the coin and through the use of complex bots, rebasing, burn control, or some other algo-based fancy tech, the WLUNA price remains approximately equal to LUNA.
Be sure not to send WLUNA to a LUNA wallet address or vice-versa.
Other wrapped coins include
WBTC
WONE
WMATIC
WBNB
and a whole bunch of others.
Wrapped tokens are versions of tokens that exist on other, non-native blockchains. For instance, BTC is its own blockchain token on the Bitcoin network, but because Bitcoin never had smart contracts, BTC had no Defi applications - until someone created wBTC (as an "ERC-20 token") on the Ethereum network. Anyone who deposited BTC on the Bitcoin network would mint wBTC of equivalent value on Ethereum, and be able to use the wBTC there.
WLUNA is LUNA held on the Ethereum network. You want native LUNA on the Terra network. Buying WLUNA on CBP isn't ideal right now, because you can only withdraw it to Ethereum, and then you would have to pay ETH gas fees to bridge it over to Terra to hold and stake it as actual LUNA. The better route is to buy SOL on CBP, withdraw to your SOL wallet, trade the SOL for UST, and then bridge that over Wormhole to Terra. You can then buy LUNA with the UST on the Terra blockchain. I believe this route is active, but have never tried it - DYOR.
Can you buy LUNA on Gemini and withdraw directly to Terra? That would be the best course of action if you have deposits on Gemini. I haven't logged in to Gemini in a long time.
Oh sh!t, just looked into it, and Gemini is actually selling WLUNA too. Kind of lame that they just label it LUNA.
Ok, how about Kucoin? lol
edit: there's also a BNB bridge I believe. I've only fkd with ETH bridges to date though, so def DYOR prior to making any moves.
There are several bridges - it's pretty easy to get coins in between the ETH, SOL, Terra, BSC, MATIC, XTZ, and FTM networks. The question is how to do it cheaply, and ETH gas is usually the sticking point as the US CEXes only sell LUNA and USDC on ETH chain.
You could sign up and KYC for FTX.us, which would allow you to deposit fiat to FTX and withdraw USDC and maybe UST directly to SOL, then swap the USDC on Saber or Mercurial for UST and send that to Terra.
But do you get that from just staking Luna with Terra, or do you need to stake Luna in all of these individual projects and wait for the airdrop?
Seems like Friday and Saturday evenings are the best times to make ETH transactions if one must. Very reasonable gas fees last night.
As far as avoiding ETH entirely goes, allbridge looks interesting. Not sure how soon the LUNA "coming soon" part is.
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I think Sunday night is even better, at least in my experience. Haha I spend all week looking forward to getting my transactions done then