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crypto eli5 4 Nov 2020, 20:05
eth2 launchpad

the network will start on december 1st if it has 16,384 validators online by then.

launchpad.ethereum.org
crypto eli5 17 Sep 2020, 08:15
uniswap has distributed its protocol token to 252,803 early liquidity providers, users and socks holders
Attached file
crypto eli5 17 Sep 2020, 08:04
Репост из: banteg
Attached file
crypto eli5 17 Sep 2020, 08:04
Репост из: banteg
crypto eli5 15 Sep 2020, 06:18
gitcoin grants round 7 is live

https://gitcoin.co/grants/
crypto eli5 27 Aug 2020, 13:06
​​Governance Rush 🌾👨‍🌾 2/2

So how much does this governance cost? 🤷

We have been on the governance train since over 2 years ago! Check this post, for instance - t.me/blockchain_lobsters/441. Back then, governance participation was just a mere single digit percentage of token holders. Even when there were some incentives, the market didn’t want this… Now we are in a bullish market, governance actually yields strong yCRV rewards like in YFI, so it makes more sense to participate! The levels of inclusion and in the double digits now of token holders.

But like with any governance, it’s still basically plutocracy. Smart people will say “go for Quadratic voting sir” and they will be right, but it doesn’t fix things 100%. See this cool metric: twitter.com/AndreCronjeTech/status/1297757154691162112. The participation is still quite low, and hundreds of millions of intertwined economic effects are in the hands of a few (responsible) people. Which is how it has always been, so that is not a surprise. But the question is how to activate those other people?

So what fixes this apathy? 🤔

The experiment I am eyeing - PowerPool

This won’t fix everything either. But it’s pretty interesting.

So when Anton made a twitter post about asking on how to increase governance participation - many thought “ser just give extra rewards”: twitter.com/k06a/status/1298347312603897857. Moreover, staking LP tokens is also not the best idea at all times as galaxy brain Tarun points out: twitter.com/tarunchitra/status/1298359745426993159. And as we see from Andre’s post, even big yCRV (real dividends!) do not turn traders into passionate protocol participations. Most people just won’t do it.

So some have been thinking of creating parliaments, or let’s say or “Trade Unions” in a way where minority holders would be able to participate and make their small voices heard. Meta-DeFi Democracy as PowerPool calls it: medium.com/@powerpoolcvp/powerpool-the-tool-for-meta-defi-democracy-8bb82f02f40. For the minority token holders, PowerPool expands utility of governance tokens by adding cashflow and influence farming — an opportunity to continually grow token stake. For like what, a few billion dollars protocols? Kinda scary.

One has to note that buying and selling introduces new issues. However, it’s not as easy to find enough lending weight in any protocol to really get the majority of the quorum with flas loans. VoteLock of CRV went ahead and figured out this attack vector right away, and other governance coins are thinking of how to implement measures to prevent such attacks. Super interesting!

I might try to dump my CVP testnet tokens on you! So keep that in mind.

🦞 I would like to turn this little post into proper research with data, governance votes, participation across protocols, and so on. Willing to subsidize your time with coins. Please let me know if you can join this! We can look into how forks abuse the notion of a governance token and yield no meaningful returns, and all that stuff. Thanks for reading 🙂

PS: a cool post by Arthur must-read - https://blog.bitmex.com/dreams-of-a-peasant. Although seems like he spends more time farming than improving his casino xoxo
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crypto eli5 27 Aug 2020, 13:06
​​Governance Rush 🌾👨‍🌾

If you missed a few governance things of the past few weeks, this is for you.

Fellow farmers, unite! We have been collectively turning these fertile lands (not your sister, don't worry) into wastelands. Coming as a swarm in full force and annihilating the entire supply of crops within days, Ethereum lands start to feel the effects. But fear no more, we must collectively now decide on how to keep the crops growing while buying a house every second week...

This isn't really a joke. And it's not DeFI policing either! It's governance, ser. 👮‍♀️

So we have yEarn making proposals in MakerDAO, Aave supporting yEarn, then you try to vote for a gauge increase in renBTC pool by asking your CRV friends to pamp your REN bags... super fun, right? The combination of these things makes for powerful play controlling hundreds of millions of dollars.

You see, people chase yields, always and forever. When you increase the yield on sBTC CRV gauge to triple digits, it automatically makes for a good case to get some sBTC and put it into the pool. That immediately influences the fees on swaps, the volumes, and the interest for sBTC itself. Even centralized platforms like FTX and NEXO jump in. Now go a bit further and look at YAM. So you deposit COMP SNX and other governance coins. With high yields, you end up increasing the demand for these governance coins. That boosts the DeFi index for traders, borrowing rates for Compound and Aave, and so on. The indirect effect of semi-ponzis helping more legitimate projects: twitter.com/Rewkang/status/1296737576166944768

Here are some cool snippets:

-> Yearn and YAM deciding to allocate some of the reserves to Gitcoin open-source projects: twitter.com/bantg/status/1298591059606474753.
-> Curve DAO started and was immediately seeing the boost in Compound APY rewards. The Michael wanted to vote as a founder and fat-fingered a huge governance part… but holders came together and reduced his vote strength.
-> Since veCRV has VoteLock against gaming it via lending-borrowing governance tokens, Y contract had to be first approved to vote for the boost in CRV rewards, meaning for about a week longer Y is waiting to vote for the boost: twitter.com/iearnfinance/status/1298858608533397504. But as we see, the gauges are somewhat similar to how the initial weight started.
-> Credit Delegation launched by Aave, and then immediately proposed by Aave to include it in yVaults to increase APY: twitter.com/iearnfinance/status/1298303842296135680
-> Like many other protocols, farming issuance long-term neither captures more TVL nor is a good idea for price performance. Compound is trying to find an answer to this question: twitter.com/compoundfinance/status/1298720987144286209
-> SNX’s DAO, Yearn’s YCombinator idea, MetaCartel Ventures and Moloch DAO being more active, and so on. A lot of cool initiatives! We will talk about them later.

PS: this in now way relates to scam DAOs your paid chat admins are launching. Those are not experiments but are blatant moneygrabs. Cancelling such people is a must.

1/2
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crypto eli5 20 Aug 2020, 05:51
crypto eli5 19 Aug 2020, 21:07
crypto eli5 14 Aug 2020, 04:25
Репост из: Curve Finance | Announcements
The Curve team is proud to announce that Curve Finance native token CRV has officially launched. CRV will reward liquidity providers in Curve pools. As previously announced, CRV will be awarded retroactively to providers since the launch of Curve in January as well as current liquidity providers. If you would like to read about supply, distribution, governance, tokenomics and how to claim your CRV, please read our newly added guides at this address: https://guides.curve.fi/

The Curve DAO was deployed by a community member. The contracts have been thoroughly verified by the team to make sure they follow the correct deployment process. The user correctly relinquished any admin powers.

Please exercise caution as CRV becomes available on the open market, the official token address is 0xd533a949740bb3306d119cc777fa900ba034cd52
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crypto eli5 13 Aug 2020, 23:56
https://twitter.com/CurveFinance/status/1294007705263386631

*WAIT TO VERIFY** Contract address of $CRV - etherscan.io/token/0xD533a949740bb3306d119CC777fa900bA034cd52

Vesting contract - etherscan.io/address/0x575ccd8e2d300e2377b43478339e364000318e2c#readContract

Wait to check here 👾 www.curve.fi/contracts

Distirbution LP 🌀 22:17:28 UTC
crypto eli5 13 Aug 2020, 23:44
Репост из: Неизвестно
the only differences i found are the l0b57e6da0 admin key, and he fixed a mistake in one of the scripts where i'd handed all 3 admin accounts to the same address. bytecodes all check out, vestings check out, keys properly burned...
crypto eli5 13 Aug 2020, 23:21
It looks like LobsterDAO just allegedly launched Curve Finance $CRV. Everybody is still confused.

It might be a joke, but might be real. Everyone is confused af. Post-mortem incoming.

This is not a joke. Wait for confirmations. This was the best launch party ever.
crypto eli5 27 Jul 2020, 17:57
running eth2 🦏
crypto eli5 27 Jul 2020, 17:43
crypto eli5 23 Jul 2020, 07:32
crypto eli5 23 Jul 2020, 07:29
omen

if you have strong feelings about whether eth2 can make it this year, you can bet on it on omen prediction market which is powered by gnosis protocol, built by dxdao and arbitrated by kleros.

https://omen.eth.link/#/0x592af74865799e1ed509afef002a6eca26e1caa2
crypto eli5 23 Jul 2020, 07:25
eth2 medalla testnet

a final testnet before ethereum 2 beacon chain launch is now accepting deposits and will launch on august 4th.

it uses v0.12.2 of the specification and it's already supported by 5 clients: lighthouse, lodestar, nimbus, prysm and teku. this is a first testnet to use "official" user-friendly onboarding process.

the name seems to be a nod to olympic testnet which lead to ethereum launch in 2015.

https://github.com/goerli/medalla/tree/master/medalla
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crypto eli5 29 Jun 2020, 10:23
balancer pool with deflationary token drained

someone has drained $505k from statera balancer pool using a very complex arbitrage transaction.
- flash loan 104k weth from dydx
- repeatedly swap weth and sta to drain the pool balance
- sta token charges 1% additional fee on each transfer
- sync the internal pool balance with the actual token balance which was close to zero because of token fees
- swap 1 wei of sta to other pool components

balancer not working with tokens that change their balances outside transfers is inherent limitation of the protcol which is highlighted in the docs. although i think it could've used harsher wording so people don't try creating such pools.

https://medium.com/@1inch.exchange/balancer-hack-2020-a8f7131c980e
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crypto eli5 27 Jun 2020, 18:42
automated market makers

a brief explaination of uniswap, curve and balancer.

https://cipher.substack.com/p/an-introduction-to-automated-market