Published in Coinmonks·PinnedI’ve lost $5000 over the last two weeks in decentralized finance farming yield. Here’s my story.Decentralized finance has been quite the hype for the past few months and I’ve finally decided to get my feet wet two weeks ago after my friend repeatedly prompted me to. Here’s what I’ve learned after losing ~$5000 on yield farming. Yield Farming Yield farming is one of the must-do in the…Defi7 min read
Published in Coinmonks·PinnedDissecting Risk in Defi ProjectsYield farming is the newest kid around the block in the decentralized finance (Defi) space right now. With interest rates (or yield, or APY) over 100% on every other projects, one might overlook the level of risk associated with investing in Defi projects. In fact, that was how I lost…Defi11 min read
Published in Bluejay Finance·Mar 8Launch Schedule for Bluejay FinanceAs the team continued to make progress towards the launch, we are excited to share with you our timeline and roadmap towards launching BLU and then our first algorithmic stablecoin in Asia. Review of ProgressDefi6 min read
Published in Coinmonks·Mar 6An NFT that records your collection — Introducing Floppy DisksFloppy Disk NFT (floppydisknft.com) is a project that allows you to record different NFTs you’ve collected on Ethereum. Once an NFT has been “saved” it will transform into that and also add that into its history of saved NFTs. This not only allows you to continue wearing your verified profile…Nft4 min read
Mar 4Valuation of Governance Tokens of Protocols with Treasury with this 3 FactorsOne question I get asked a lot is what value does governance token have? It’s not any different from the valuation of the shares of a company really! To say that governance tokens have no value is the same as saying the shares of a company have no value. To…Defi5 min read
Published in Bluejay Finance·Feb 21Bluejay Finance’s Revenue Model ExplainedThe revenue model of a protocol is one of the most important components over the long term. Here we look at how Bluejay Finance’s protocol accrues value for its BLU holder. Sources of Revenue Bluejay Finance generates revenue from 3 main sources: Seigniorage (from minting a currency) Arbitrage (from differences in market price) …Defi7 min read
Published in Bluejay Finance·Feb 6Rethinking APY for rebase token protocolsRebase token protocols, like Olympus, Wonderland, Klima, Redacted, promised their users 5 digits and 6 digits APY. However, in the recent “bearish” market, most of the users buying into these protocols ended up getting rekt. So, if the APY is not a good gauge of whether you will make positive…Defi8 min read
Published in Coinmonks·Jan 29Ponzinomics Simplified (Part 1)A short story on how everyone can get rich in DeFi — The story starts simply with a developer launching a new project. With some initial capital of 10,000 DAI (a USD stablecoin), he minted 10,000 new $PONZI coins and created an Uniswap liquidity pool where anyone can buy and sell the coin for DAI. Each $PONZI can be bought or…Ethereum5 min read
Sep 17, 2021My journey to disclosing a vulnerability that can lock up millions in EthereumProjects on Ethereum get hacked every single day. In fact, you have an entire publication dedicated to hacked projects with a leaderboard of the greatest losers. If you have been a programmer, you know it is extremely hard to not introduce bugs into your software. Writing code is not just…Ethereum7 min read
Sep 9, 2021I shit on DeFi projects all day… and now I'm launching my ownJust for fun, add “Blockchain Developer” onto your LinkedIn profile and see how many messages you receive in a day from DeFi projects which is working on something exciting and revolutionary. Or maybe look at the r/CryptoMoonShots subreddit to see the crazy number of projects launched every day that promises: …Defi4 min read
