The DAO decides
Let’s go over a little bit of everything
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What happened this past week?
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Any cool things happen this past week?
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The Last Workshop
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Here are some things we’ll try to cover
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How to start
Buying crypto + NFTs
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Start simple!
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Start simple!
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Start simple!
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Start simple!
Whatever you do….just stay away from 90% of crypto YouTube/twitter/reddit
If the video has a thumbnail like this…you probably shouldn’t pay attention
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Start simple!
The notion resource list is a good place to start
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Start simple! (NFTs)
For Eth NFTs: Opensea.io
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Start simple! (NFTs)
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ETH
Start simple! �(use a decentralized exchange)
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SOL
Stocks vs Crypto
Some things to think about
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Investing in stocks is not the same
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Crypto assets are all HIGHLY correlated to each other.
If BTC is green for the day, vast majority of assets are green.��If BTC is red for the day, vast majority are red.��Diversification is possible, but it’s not the same type of diversification that occurs in traditional equities/stock.
Also ecosystems are highly correlated.��If Avax is up, Avax ecosystem token are going to very likely be up.
Investing in stocks is not the same
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Generally - altcoins have higher beta than large market cap coins.
If Bitcoin goes up 5% in a day, (all else equal) Solana might go up 10%.
If Bitcoin goes down 5% in a day, (all else equal) Solana might go down 10%.
�All of these statements are ALL “all else equal” certain news events can cause all of this to be false
You should denominate in ETH or BTC
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If you do trade, you should always compare your returns to ETH or BTC (depending on your beliefs)
Buying and holding BTC and ETH and just forgetting about it will probably be a pretty good strategy.
If you’re going to spend time trading - you should outperform just holding.���(This is like how the risk free rate of equities is considered 8%, just buying SPY)
Comparing Market Caps has some promise
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Understand Circulating vs Total Supply
Tezos is currently #48 in MC����Quality L1 tokens should probably be valued more than Tezos.�If there is a quality L1 token that goes below Tezos, it might under undervalued in relation to Tezos. This doesn’t mean in terms of USD its undervalued
(Historically, whenever FTM goes below Tezos, it’s been a good idea to buy)
Comparing Market Caps has some promise
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You can do that with other types of tokens as well
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Gamefi tokens
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Stableswap tokens: Curve Fiance (CRV) vs Platypus (PTP)
Be careful with farm tokens
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Tokens that are used as farming rewards typically trend towards Zero in the short/medium term
(Yield farms just farm them and then sell them off to stables of BTC)
There are exceptions to this but usually just short-term pumps.����No one knows what will happen the long term.
Look at tradfi metrics
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Token Terminal - this strategy isn’t really that successful.��Crypto marekt isn’t yet full efficient/rational
Crypto Naming Services
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Crypto Naming Services
Aka crypto domains
Problem: wallet address have a really bad user experience���0xad24fasdfnalwelfasdunaioseoaifnuoaiuthariuqweoiru��^ no one is going to remember that and no one can look at that and know in a split second who they’re sending money to
Crypto Naming Services
Crypto Naming Services are “wallet addresses” that are more human����andypage.eth (eth mainnet) - ENS Domains�andypage.ust (terra mainnet) - TNS�andypage.sol (solana mainnet) - SNS
Crypto Naming Services
NFT Creation
Deeper Dive
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So…you want to start a collection
So…you want to start a collection
So…you want to start a collection
Run some javascript to create 10,000 random iterations of the image and export those into a folder.
(There are lots of free code snippets online that you can use to do this without knowing how to code.)
So…you want to start a collection
Create a smart contract that will govern your NFT
Here you would set royalties, different roles of the NFTs, can the NFT image be updated? Etc
So…you want to start a collection
Find a decentralized cloud hosting platform to host all of your images
You could use AWS, GDrive, etc but IPFS is the most common decentralized option
So…you want to start a collection
Mint the NFTs to the blockchain
Again - lost of free code solidity snippets that exist to help you through this spot
So…you want to start a collection
OR
So…you want to start a collection
OR
So…you want to start a collection
Thirdweb
Just upload your images (after generating 10,000 ) and they handle everything else
Yield Farming
Deeper Dive
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Most common thing to do is go to a DEX and provide liquidity
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Astroport (Luna)��Trader Joe (Avax)��Quickswap (Polygon)��Uniswap (Eth)
Spookyswap (Fantom)
Most common thing to do is go to a DEX and provide liquidity
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You can also try autocompounders���*Be careful with these* Extra contract risk����Beefy Finance (probs safest) and multichain��Spectrum and Apollo for Terra��YieldYak for Avax��Reaper for Fantom
Final Thoughts
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And that’s all for now, folks!
andy@joinforge.co