🧵Base Quick Catch-up
@BuildOnBase
is exploding with innovations and new projects. It won't be a surprise if Base receives greater attention shortly.
This thread will cover:
- Base Overview
- Base Ecosystem Highlights
- Base tokens in watchlist
DeFi market is rocking.
As users pay attention to @arbitrum DEXes, $VELA $GRAIL $GMX are leading the way.
A quick look at the recent rising star @vela_exchange & its token $VELA which has just reached an ATH of $6.69. Some useful stats 👇
One of the @arbitrum projects I'm long-term bullish on is @vela_exchange!
Users that missed $GMX have heavy coping going on. $VELA / $VLP are a 2nd chance.
The perp exchange differentiates w/ synthetics, forex trading, and other differentiators.
Alpha + Airdrop 🧵
January 2021 ⬇️
~100 daily trades
~$50k daily trading volume
January 2023 ⬇️
~2,000+ daily trades
~$100m+ daily trading volume
The stats are different, but the vision remains the same:
Building the #1 decentralized synthetic trading platform. 🍏
Premia :
-Selling option is random you dont pick the strike or the expiration (v3 fix this)
-Low liquidity cuz selling option is random
-Options can be more expensive when the demand is high
This is not a thread I aint a threador im blocking anyone calling me a threador
I used every possible way to trade crypto options off chain and on chain. And there is no perfect solution but that should change v3ry quickly.
Instead of telling you everything that is good about each of the different platforms I will tell you everything that is bad about them
When sharing volume numbers of $GNS compared to $GMX, a frequent remark is that it doesnt count because of forex numbers.
Well, here are the daily fee numbers to $GNS stakers and $GMX stakers for the months of December and January and the ratio between the two protocols.
Congrats @vela_exchange with the Beta launch!
The UI looks very professional and I like the trailing stop feature 🔥
Current trading pairs:
Crypto: $BTC $ETH $DOGE
Forex: $EUR $GBP $JPY
$VELA will surprise many.
Here are 8 names, 8 volume charts and 8 price charts (last 3 months) of perp dexes without labels, courtesy of @tokenterminal.
A good measure of on chain activity of these 8 protocols.
Everything is scrambled.
Can you put them together?
Is the market rewarding on chain activity?
So only $125M FDV for $GNS in a space that is valued at $3.6B in the midst of the bear market and was valued at $32B during the last bull market.
Where do you think this will go next bull market?
Down?
Lol.
Lmao.
This stays an amazing lesson why FDV is key.
Side by side FDV 's of the perpetual dex space and how tokenomics wrecked portfolios and why it didn't. $GNS, $PERP, $INJ, $SNX, $GMX and $DYDX
From 32 Billion dollars in October 2021 to just 3.6 Billion dollars. How it all happened:
@ReveloIntel >forks like $GNS
>We collect, organise, create & present valuable information aimed at helping helping track their favourite projects & change more efficiently.
Get a load of these dumbasses. Even SBF is more reliable.
Q&A
Q: GMX cannot be compared to other forks because the forks like Gains Network which is a bucket shop (has enough in stablecoins to pay traders when they win) 24/
Is $GMX Sustainable??
Recently @AlgodTrading joined Jordi Alexander (@gametheorizing) to debate the popular @GMX_IO DEX design & if it can be sustainable.
Read our notes below 👇
It´s funny that on $GMX there´s still maxxed out long capacity yet $GNS literally pays you to go long right now with almost $4M net short positions across all pairs.
Check out gtrade.tools for an overview of the funding fees being paid out right now.
The search for real DeFi yield continues.
Say hello to @GainsNetwork_io
v6.2 update goes live today, introducing single-sided staking.
With nearly $12m in fees collected to-date, find out how much yield stakers could be getting👇
$GNS
blog.bybit.com/en-US/post/gai…