Posted 2 weeks ago | by Catoshi Nakamoto
As 2021 draws to a close, it can be easy to forget just how far the cryptospace has come in the past 12 months. And you know what? It feels great. Because after years out in the wilderness, crypto is having a Simba moment, poised and ready to stake its claim as the future of finance. Think about it: it wasn’t long ago they called us crazy, but time’s have have changed: the world is waking up to what we’ve always known is inevitable.
One of the biggest shifts we’ve seen is the incredible rise of DeFi, something that was only theoretically possible just a few years ago. Today, it’s worth a quarter of a trillion dollars – and it’s only just getting started. In this video, we’ll be looking at some of the top DeFi projects you need to know about to supercharge your gains in 2022.Read More
Let’s get it.
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First up, is a crypto blue chip, AAVE: an open source and non-custodial liquidity protocol for earning interest on deposits and borrowing assets. In DeFi years, AAVE is one of grandfathers of the space. In fact, it started off back in 2017 as something called ETHLend. And this was back when DeFi didn’t even exist. It’s the brainchild of Finnish wonderkid Stani Kulechov who is easily up there with some of the most prodigious minds in crypto.
Today, AAVE is the number one multi chain DeFi protocol out there with over 11 billion dollars in Total Value Locked. It’s hasn’t just stood the test of time. AAE has aged like a fine mulled wine.
This pioneer of DeFi protocols allows users to borrow and lend in a range of about 30 crypto assets. One of its flagship products is “flash loans” – the first uncollateralized loan option in the DeFi space. Designed for developers, flash loans allow users to borrow, you guess it, in a flash, with zero collateral required and only one condition: that the liquidity is returned to the pool within one transaction block. Failing that, the entire transaction is reversed, making AAVE one of the safest, most secure protocols out there. For anyone looking to begin their DeFi journey, you really can’t go wrong with this absolute giant of the space.
Next up, a stack of fluffy and delicious defi served up on the Binance Smart Chain, our old friend and perfect way to start your day… Pancake Swap.
Pancake Swap is the most delicious Automated Market Maker (or AMM) in the game, and with over 5 billion in TVL, it is far and away the leading DEX on the Binance Smart Chain, easily living up to its name by ‘flipping’ the Binance DEX. It’s ‘rise’ this year has been incredible, and it’s gone hand in hand with its deep liquidity and awesome features; things like syrup pools – PancakeSwaps answer to staking, yield farms, and IFO’s: initial farm offerings. Plus, it incentives liquidity with things like lotteries, prediction markets, as well as as NFT collectibles. PancakeSwap gameifies the process of making your crypto work for you. And wow, look at that sweet APY!
All in all, Pancake swap is easily one of the most complete DeFi projects in space, with one of the easiest to use User experiences around. Its native governance token CAKE went on an insane rally early this year as the protocol began its rapid rise in popularity, when people went on a frenzy of yield farming. Today, it’s sitting beautifully in a zone of serious support. If you aren’t counting carbs and looking for a high quality token that seems to have found a bottom, well, you could do a lot worse than feasting on some CAKE for Christmas.
Number 3: Raydium. An automated market maker (AMM) and liquidity provider built on Solana for the Serum DEX, offering light-speed swaps, next-level liquidity, and friction-less yield. For anyone who hasn’t tried it out, woah – you’ve got a lot to look forward to. And there’s no doubt about it: Raydium is the best-looking DeFi protocol out there – the Clooney of Crypto. The swap feature is seamless. And the interplay with Serum means you get Best Price Swaps, either within a liquidity pool or through the Serum order book – whatever’s the best deal gets instantly executed. Raydium’s farming protocols cover a wide range of liquidity providers.
And because the AMM communicates with Serum’s central limit order book, you can trade Solana native tokens as if you were on your favourite Centralized Exchange. It’s even got a beautiful NFT marketplace for the SOL ecosystem. Its native token RAY offers a series of perks to holders too, including generous staking options as well as access to token launch events and Raydium Farms. Raydium has grown as impressively as early backer Sam Bankman-Fried’s glorious head of hear. And let’s face it. Betting against SBF is one fo the dumbest things an investor could do. If you’ve not experienced the speed of DeFi on Solana, well, treat yourself this Christmas: Raydium’s slick design and insane handling make it one of the true Lambos of DeFi protocols.
Comment below with the exact make, model and color of the Lambo you have picked out…or maybe already own. I’ve got a HURACAN and if you stay in crypto for 4 years or more….you can show me your Lambo at the next Bitboy meetup.
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If you need the finest of wines, avocados or CHOCOLATE COVERED PRETZELS, you go to Trader Joes…If you need to swap some tokens or want some choice defi you visit the one-stop-shop for decentralized trading in the Avalanche ecosystem – Trader Joe. But while the grocery store of the same name is basically just a cheap version of Whole Foods, this DeFi play is the cream of the crop. PARODY OF MICHAEL SAYLOR****What’s the second best Avalanche DeFi protocol? There is no second best. There’s an Avalanche DeFi Protocol, it’s called Trader Joe****
So what do we mean by one stop shop? Well, Joe is not simply a DEX for swapping and trading, it also offers a range of DeFi features including staking, yield farming, lending and community governance. Plus it’s got an awesome feature called Zap, which allows users to convert tokens into LP tokens with a single click. A relatively new kid on the block, Joe has had an incredible rise in the past 6 months. It was the the 12th DEX launched on Avalanche but quickly rose to the top, from 20 million in TVL in August, to over 2 billion today – that’s 23% of the entire ecosystem! An ecosystem that itself has exploded in recent months, attracting a huge amount of venture capital and a super loyal community. Their lending service, Banker Joe, launched back in October with an integration from – would you look at that – Chainlink! Which allows to users to earn yield on their assets by loaning out via non-custodial pools, or putting up collateral to borrow against.
As the weirdly named co-founder 0xMurloc put it, “Banker Joe is an essential step towards our vision of turning Trader Joe into a one-stop-shop DeFi trading platform”. Why? Well, this is super cool: Banker Joe’s lending protocol combines with the DEX to offer non-custodial leverage trading, because users can deposit their tokens as collateral to borrow more tokens of another class. It’s no surprise then that Joe has seen such an incredible rise in the past few months. And with Avalanche fast-becoming one of the top Layer 1 blockchains around, that only looks set to continue.
Finally, one for the nerds – OCEAN Protocol!
Data tokens, you ask? Well, they effectively wrap a dataset into an ERC20 standard for third-parties to use without the data itself ever leaving the hands of the publisher. This means publishers can cash in on data in a private, secure way, allowing customers to gain access to datasets that were previously out of reach – that’s thanks to Ocean Market, where datasets can be bought and sold. Think of it as the OpenSea of data. Crucially, none of it’s stored on the network itself: buyers purchase an encrypted reference secured by smart contracts, so its only unlocked when transactions are finalised: basically, a DEX for data!
When you publish a dataset, you create an IDO, Initial Data Offering, complete with its own unique ERC20. The publisher can set the price, or let it be auto-discovered using Ocean’s Balancer powered AMM. Meanwhile, OCEAN stakers can provide liquidity to pools as well as earn a portion of the transaction fee, so you can earn by staking, selling, as well as launching your own marketplace. It’s seriously impressive stuff: the beginning of a new kind of decentralized data economy that levels the playing field between giant corporations and your everyday developer. Something that sits at the heart of what blockchain and Web3 is all about. Don’t say I didn’t warn you: Ocean is set to make serious waves!
That’s all I got folks. Be Blessed. Bitboy out.