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Okay, so what are all these new DeFi tokens all about? $sushi, $kimchi, $cream, $pasta, $Base, $Yum, $Hotdog, $Noodle, and the rest?
time for a long thread u20281/ 17
TL;DR: YOU are eventually becoming the yield.
don’t dream, there is no quick buck here.
time for a long thread u20281/ 17
TL;DR: YOU are eventually becoming the yield.
don’t dream, there is no quick buck here.
2/17 no-one becomes rich overnight… it takes time, effort, a lot of hard work and *believing* to get there. and don& #39;t forget: scams and hackers are just waiting for the right moment
After all, we dont want to see this happening to your money:
Right?

https://twitter.com/lowstrife/status/1301216174659833857?s=20">https://twitter.com/lowstrife...
After all, we dont want to see this happening to your money:
Right?

https://twitter.com/lowstrife/status/1301216174659833857?s=20">https://twitter.com/lowstrife...
3/17 So okay… history: we were all about casual, peaceful lending & pooling early in 2020 when we were introduced to flash loans @AaveAave
Magic
https://abs.twimg.com/emoji/v2/... draggable="false" alt="🪄" title="Magic wand" aria-label="Emoji: Magic wand">https://abs.twimg.com/emoji/v2/... draggable="false" alt="🪄" title="Magic wand" aria-label="Emoji: Magic wand">https://abs.twimg.com/emoji/v2/... draggable="false" alt="🪄" title="Magic wand" aria-label="Emoji: Magic wand"> started happening there, some ppl noticed, some didn& #39;t.
Magic
4/17 Arbitrageurs were excited, but let& #39;s be honest - volumes were miserable back then. so it was still a small time game.
Comes March-April, and we see $HEX pools exploding. People got excited a bit… I called this “What the hack is HEX” in my tasks :)u2028

Comes March-April, and we see $HEX pools exploding. People got excited a bit… I called this “What the hack is HEX” in my tasks :)u2028

5u2028/17 Comes May and news begin to warm up the public about the upcoming $COMP giveaways… Discussions start to roll up how that can influence the space, and what narratives could emerge.u2028u2028 https://www.coindesk.com/compound-defi-governance-token-comp">https://www.coindesk.com/compound-...
6/17 Comes mid June, and we all rush into COMP mining as reward for using the platform.
Eventually this is what we call now the Yield Farming. u2028u2028
But that was **just the beginning**. It& #39;s really unbelievable what has emerged in such a small period of time since then.
Eventually this is what we call now the Yield Farming. u2028u2028
But that was **just the beginning**. It& #39;s really unbelievable what has emerged in such a small period of time since then.
7/17 Couple days in COMP mining and @Instadapp launched leveraged positions with stablecoins using the above-mentioned flash loans to maximize COMP mining… https://youtu.be/lcLqPLRFfro ">https://youtu.be/lcLqPLRFf...
8/17 And then comes @AndreCronjeTechin in July with $YFI token, fair launch (deserves separate thread), and yield farming goes to next level of 1XXX% APY and more on Curve… the token explodes from zero to 1000 to 4000 USD (and now its above 30k & Market cap reaching >$1B)
9/17 YAM https://abs.twimg.com/emoji/v2/... draggable="false" alt="🍠" title="Gebratene Süßkartoffel" aria-label="Emoji: Gebratene Süßkartoffel"> followed by combining community-owned tokens with a ridiculous food meme & to Farm YAM tokens.u2028u2028 It failed, now relaunched...
>>> Fast forward today, and well, it& #39;s still history in making, but i will quote here from my beloved @theDefiant by @CamiRusso:
>>> Fast forward today, and well, it& #39;s still history in making, but i will quote here from my beloved @theDefiant by @CamiRusso:
10/17
"There’s a new DeFi project called Hotdog...
There’s also Kimchi, Noodle, and Harvest, & they all sprung up in the past day or two.
But what’s more impressive: Some claim to offer yields in the seven figures. That’s 1,000,000% APYs. Yes: Million....
Image:Â @RougeVert4
"There’s a new DeFi project called Hotdog...
There’s also Kimchi, Noodle, and Harvest, & they all sprung up in the past day or two.
But what’s more impressive: Some claim to offer yields in the seven figures. That’s 1,000,000% APYs. Yes: Million....
Image:Â @RougeVert4
11/17 $YAM opened the floodgates and now there’s an avalanche of copycats promising 1000 and million % returns"...
read more on how:
- these markets are created;
- prices inflated;
- those platforms work;
- farming begins;
- such yields are "generated" AND...
read more on how:
- these markets are created;
- prices inflated;
- those platforms work;
- farming begins;
- such yields are "generated" AND...
12/17 ... how YOU are eventually becoming the yield
article here:
https://thedefiant.substack.com/p/hotdog-and-kimchi-coins-flash-million?r=1tkyb&utm_campaign=post&utm_medium=email&utm_source=copy
The">https://thedefiant.substack.com/p/hotdog-... rest of the game as you probably guess, is called *Musical Chairs*, but not for all projects of course.
article here:
https://thedefiant.substack.com/p/hotdog-and-kimchi-coins-flash-million?r=1tkyb&utm_campaign=post&utm_medium=email&utm_source=copy
The">https://thedefiant.substack.com/p/hotdog-... rest of the game as you probably guess, is called *Musical Chairs*, but not for all projects of course.
13/17 u2028Not an investment advise, but if you do engage in this, be ready to loose all of the money since there are mostly no audits on the code. The only one that I am a bit more optimistic here is the $sushi. Their chef is amazing :))) @NomiChef
@SushiSwap
@SushiSwap
14/17 But regardless... the time that we& #39;re living in, will be remembered as the rise of new era of finance, and looking back to summer of 2020, we will say that it was the first real explosion to reveal the potential of DeFi to the world
Stay safe, or as we say SAFU. BUT know:
Stay safe, or as we say SAFU. BUT know:
15/17 Storm (unfortunately) in one form or another is coming.
Hackers and scammers are just waiting for the right moment and moreover, they are already actively trying to ride this wave. Let& #39;s hope and pray that we wont see a major disaster. https://twitter.com/jasonchewyl/status/1301318857844387840?s=20">https://twitter.com/jasonchew...
Hackers and scammers are just waiting for the right moment and moreover, they are already actively trying to ride this wave. Let& #39;s hope and pray that we wont see a major disaster. https://twitter.com/jasonchewyl/status/1301318857844387840?s=20">https://twitter.com/jasonchew...
16/17 It will be either pump and dump, or, what& #39;s even worth, major runaway with hundreds of millions of liquidity money.
17/17 Here is another great thread from one of my favorites in DeFi space @DeFiDad:
https://twitter.com/DeFi_Dad/status/1301588286369038337?s=20
fin">https://twitter.com/DeFi_Dad/... )
https://twitter.com/DeFi_Dad/status/1301588286369038337?s=20
fin">https://twitter.com/DeFi_Dad/... )
