Ignas | DeFi

@ignas

189 Following

2174 Followers

Ignas | DeFi pfp

i still dont know what this is

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Bitcoin fixes this

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Current crypto use cases: - Speculation - Self-Custody - Smart Contracts - Stablecoins - Quick Fundraising & Market Exit vs. IPO - Bitcoin: Non-Sovereign, Borderless Store of Value Huge potential use cases: - Privacy - Authenticity (Crucial in the Age of AI) - Truly Global, Cheap, & Fast Payments (Already Starting) - Micropayments - Decentralized Identity & Reputation (Early Stages) - Efficient, Global RWA Trading & Settlement (Starting)

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I check on X to get insight from people smarter than me. I read Reddit to see what average people think. I scroll TikTok to see what having no brains feels like. I'm on Farcaster to see how the future of social media looks like.

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Guess who is TWAPing BTC?

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Scoring Crypto Narratives: My Formula You likely spent hours hunting for the next big crypto trend. Get it right, and you profit. Come late, and you're the exit liquidity. But which narrative deserves your attention? I share my formula in my blog: https://www.ignasdefi.com/p/scoring-crypto-narratives-my-formula

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It’s crazy how much more risk I take the more money I have. When you worry about surviving from salary and low savings, taking risk is scarier. Though even more needed than when you have money.

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Mind-blowing moments after discovering something new about crypto are now rarer. Those mind-bending innovations that take time to really understand. And when you do, you think "OMG, that's f***ing amazing!" I remember getting mind-blown after learning about: - Flash loans - Rebase token / Supply adjustment ($AMPL) - AMM: x * y = k and how impermanent loss rekts you - MEV (Sandwich attack) - YFI: free token has value? - Liquidity mining - giving tokens for free to boost liquidity - veToken (the OG flywheel model) - Fluid's Smart Debt (borrowed assets as liquidity) What are some new, mind-blowing things you've noticed this cycle?

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4 of the 8 top DeFi protocols didn't exist three years ago: Eigenlayer, Etherfi, Spark, and Ethena. Now, they are among the top DeFi protocols by TVL. Notice that all top 8 protocols are focusing on YIELD. DEXes out of top 8: Uniswap, Curve, Pancakeswap... LPing due to IL isn't worth the risk? Notable changes: - Aave: 4th to 1st, TVL +315% - Uniswap: 6th to 10th - Curve: 4th to 19th, TVL -50% since 2022 - PCS: 5th to 24th, TVL -50% - Convex: 8th to 35th MakerDAO (Sky) lost the 1st spot but its first subDAO, Spark, is a success. Binance staked ETH is now as big as Lido was 3 years ago. Ethena is a beast: started growing again, soon to reach ATH TVL.

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What do I get for having Pro subscription ? Been traveling and missed out on the news:))

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Amazing how many once hot & high potential crypto experiments failed. Just a few on my list: - Fractional NFTs / ERC-404 - NFT lending - Music NFTs - Elastic supply tokens/stablecoins (although $AMPL still alive) - $YFI style 'fair launches' - (3,3) - Move-to-Earn (and similar Earn slogans) - Two-token model (Bera might be last to try it) - Algo-stablecoins (UST but sUSD depegged despite 750% col. ratio) - "Stable asset" controlled by interest rates, not pegged to fiat: $RAI - Stables backed by Protocol controlled value (PCV) like $FEI. (Olimpus DAO keeps similar Protocol Owned Liquidity (POL) idea alive.) Failure is part of innovation. And crypto is amazing as we experiment a lot. Perhaps those ideas were ahead of their time, like YouTube was before adequate internet speeds.

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Why does saying "I work in crypto" feels so cringey and awkward? Feels like the "crypto" word itself is too loaded, meaning scams, get rich quick, and 'crypto bro' culture. I think we've had it great with the Web3 storytelling. It was the strongest narrative we've had: Web1: "Read-Only" -> Web2: "Read-Write" -> Web3: "Read-Write-Own" Yet 'Web3' isn't trendy anymore. I don't use it myself much. It's like after the Metaverse, GameFi, and NFT bubbles we stopped pushing the 'Web3' story, because.... it got cringey as well? But I think Web3 is the single best narrative that unifies what crypto has to offer. Even more now than in 2020-22 bull cycle due to AI. The value of censorship resistance, user ownership, and privacy is important to many. Yet, most people view crypto not as a solution, but as a step toward a dystopian future. We're terrible at selling crypto... I mean the Web3 vision to the masses. Maybe I should push the Web3 term once again.

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Seriously, how will Farcaster work with Monad, Base and Snapchain? Confusian of da higest orda lol

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$ETH ultrasound narrative is dead! Or is it? As EF scales the L1 and $ETH pumps, the ultrasound narrative is coming back. What a surprise :) I'm not the first to write about it, but the market is yet to internalize the message. The logic goes like this: Gas limit (now ~36M) could hit 150M, boosting L1 scalability. Critics would say "oh that's bad, because lower fees burn less $ETH. Buy my alt-L1!" That's the old thinking. True that more txs per block = lower fees, but more activity could mean more ETH burned. Higher gas limit → more txs outweigh lower fees → potentially more burn. As @hanni_abu calculates, "at 36M and the deflationary threshold it 14.5 gwei. At a 300M gas limit the deflationary threshold becomes 1.74 gwei (14.5gwei*36M/300M)." He also adds that as gas prices drop, users are more willing to pay higher fees during congestion: E.g., at $0.01, a 100% premium to $0.02 feels more acceptable than jumping from $5 to $10. Lower prices make people less sensitive to congestion fees.

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New blog post: Crypto's New Realities: • HODL is Dead • DAOs are LMAOs • Bye DeFi • Rot in Private markets • Hyperliquid Read it here: https://www.ignasdefi.com/p/cryptos-new-realities-hodl-is-dead

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Why I believe that Ethereum's last resort narrative is a "pivot" to a Bitcoin L2. https://x.com/DefiIgnas/status/1918284246440984626

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Wallet on browser is so freaking awesome! I can't even... So bullish.

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DeFi’s Next Evolution: How Protocols Become Platforms Featuring Fluid DEX v2 launch: https://x.com/DefiIgnas/status/1916041754169557492

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Amazing video of a non-crypto tech youtuber trying to earn money with memecoins. TLDR - crypto is gambling to most people. Sad. His review of memecoins? 3 out of 5 stars. https://www.youtube.com/watch?v=zCTEhUvdhBg

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New blog post: Nine shiny new tokenless protocols with points to try (farm) right now. Enter the alpha zone here ↓ https://www.ignasdefi.com/p/nine-tokenless-protocols-with-points

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