Hi everyone. I’m glad to be back and we are making some changes so let’s go over those first.
New Name, New Focus
Our attitude of only bringing newsworthy and actionable items that you can really use is not changing. But what is changing is our focus. The entire crypto market is way too broad, so we will focus on our favorite sector where we think the best money-making opportunity is. DeFi.
DeFi, or decentralized finance is a way to invest by lending your funds or supplying liquidity in return for added coins. The beauty of it is no middlemen are necessary for your transaction and it’s available to anyone who has a crypto wallet.
Now onto 2 new features: News from the Week and Farm/Investment of the Week
News From the Week
One of our favorite news sources is Lunar Crush. Lunar Crush helps measure sentiment with tons of analytics about Twitter. And this matters because Twitter is by far the best place to get your crypto news. But you have to sift through lots of hype and junk to get to the news sometimes, and Lunar Crush helps us do that.
The highest-ranked DeFi ecosystem in Lunar Crush this week is Fantom.
It’s hit a low of 30 cents and now is trading at 36.2 cents. For those not familiar with Fantom, here are some numbers:
It’s the #8 blockchain for DeFi with a total of $1.6 billion in Total Value Locked (TVL). That’s collateral in storage to enable borrowing
SpookySwap, which allows you swap, stake, farm, provide liquidity, or bridge between Fantom and other chains is the biggest DeFi protocol there. It’s an AMM (automated market maker) which means it makes markets by connecting buyers and sellers in a decentralized way with no middleman.
Fantom, who is on Twitter as @FantomFDN, is in the news for a couple of reasons including that they are looking to add more collateral types giving more people the chance to invest and borrow.
Fantom has a lot going on. Check them out.
Farm/Investment of the Week
Here we are going to focus on one investment and explain why we like it. This is not investment or financial advice and we hold no licenses that allow for that.
On Pangolin v2, a DeFi protocol on Avalanche, one farm we really like is a boosted farm. Boosted farms offer bonus returns for a little while before going back to their normal interest rates. The farm we like uses USDC, which right now is the safest stablecoin and the network native coin for Avalanche AVAX. Under normal circumstances, this USDC-AVAX pool pays 26%, which is a pretty nice return for 2 quality coins. Now, while it’s boosted, it pays 59%.
You get paid in PGL, one of Pangolin’s 2 coins but it’s easily convertible into more USDC or AVAX or other tokens directly on the Pangolin site with its swap feature. We think this interest rate is EXTREMELY attractive for holding the top stablecoin and a top 15 project coin, two coins we would likely have in our portfolios anyway.
Pangolin has lots of great pool options so check them out. Fees are low and transactions fast on Avalanche too.
And if you are looking for a great place to buy your tokens, it’s hard to beat Binance. It’s the world’s biggest exchange. Click this link and get a discount on your first trade.
Seeya next week.