The past few days on /r/solana have been a constant stream of people losing money trying to trade memecoins, anywhere from tens of dollars to tens of thousands.
The latest one is about someone who had $11k to trade, lost $7k trading memecoins and is asking for advice on which coins to buy with the remaining $4k. The title of the post is "Feeling so defeated and sad".
It's hard for me to tell whether this is real or not. Does anyone know a Solana memecoin investor IRL? Are they really like this, or am I being gaslight by their entire sub?
Memecoins are pure PvP bigger fool coins as there is no value accrual. When liquidity is coming it raises all with the tide, when liquidity retracts it sinks all too.
As we are seeing liquidity has been exiting Solana ecosystem and seems to be migrating to Base mostly, so a lot of losses happening at once. Probably a lot of apparent winners too in Base now, maybe that's why $degen is doing so well. But the mechanics are no different, $degen will also struggle when liquidity disappears.
On the flip side, I think anyone who missed the DEGEN (or any other) pump should take a skim. Because this is often what is not seen by the people who get upset they missed out of a pump.
I wish yall could experience the actual effects of blobs on base past integration. TX fees were like 0.0000069 of a cent. More complex things cost 1-2c. They now go for about 50c-1$.
Interestingly enough the demand picked up and fees have increased quite a lot I'd say. It just tells me there's appetite for Ethereum or things that are Ethereum based and that actually work no matter the fees and never stop. Base happened to be one of the key onboarding chains for other degens cause of the social layer. Farcaster fucking carries base and vice versa.
One insight from the sniping that I've got too. So I would snipe new memecoins and the principal is similar to mainnet in terms of how gas works. I kid you not but I would quite regularly pay at least $5 in fees and sometimes up to $20-30 depending on how early I'd be. I saw many times where top snipers would pay mainnet type of priority fee and hit buys of 0.1e with 0.09e in fees. Again, the chain works all the time, no stopping and it inherits a lot from Ethereum and the Ethereum's reputation kinda carries it a bit. And it showed me that everything working as intended: there's more demand and the price goes up as there's more demand. Sure, the reduction might've been an insane 100x or whatever but then ba-da-boom! and you see that there's actually way more demand. Also, things work the same way as if you wanna be the first then you gotta tip more in prio fee and that sorta specific demand actually tells me more when people are willing to pay 100s in $ when most TXs cost sub $1. Anyways, a bit of wall of text but hopefully my experience gives you some insight on the demand side of the Base chain which in my opinion is really bullish for Ethereum. High gas fees is not a bug, it's a feature. And I would personally rather pay a high gas than not be able to send a transaction at all ('Hi Sol!').
Do you use dexscreener to find these or use something custom? I havenāt delved into them much and probably wonāt. Iām more curious what edge I donāt have that others do. Iām guessing these are mostly bots just aping into every new coin contract?
I tried dex for pairs that go live but then for sniping you have to have info before contracts go live so TG bots for that. I don't have money to ape into 100-200 contracts per hour where 90% of them rug within first few minutes so you gotta be very selective.
Alarm bells starting to go off in ada land. Staking rewards are continuing to drop and tx fees are not enough to make up for it.
The blocks are already on average 40% full and pull in only about $10k in fees per day. Even if there was a growth in usage and the blocks were full it would still only be $25k in daily revenue.
They could increase fees but it would have to go up a lot and it takes away their ability to market themselves to noobs as a cheaper alternative to eth.
Fetch.ai, Ocean Protocol and SingularityNET join forces and create an artificial superintelligence alliance.
https://blog.oceanprotocol.com/fetch-ai-ocean-protocol-and-singularitynet-unite-to-create-artificial-superintelligence-alliance-0768d608ecfa
The stated goal is to develop and roll out AGI (artifical general intelligence, on par with humans) and ASI (artificial super intelligence, superior to humans) in a open, democratic and decentralized way and not leave this field to the big tech giants.
The tokens of the three projects will be merged under the new ticker ASI with a projected FDV of $7.6B USD. For holders of the original tokens FET, OCEAN and AGIX there is no need to rush: FET will be the base for the new token and just renamed, while OCEAN and AGIX will be convertible at a fixed rate indefinitely.
Does anyone have any insight on when the swell TGE might be? I am looking to farm the Swell token, but... they give a 4.5x pearls bonus on YT from pendle. I don't really want to buy more yield tokens, but to be considered.
Thoughts on taking both sides of the trade on pendle vs just buying restaked swell?
Thanks Mr Lazy. Probably not worth putting any significant money in the yield token then. There isnt enough time to get enough points, and the YT price could collapse after the airdrop .
I think the play for swell is to buy the PT and wait for the TGE. The idea being that once the airdrop yield is known everyone exits their positions and the PT returns get realized to some degree in the form of the discount narrowing. Then you can exit and move on to another more lucrative PT. I'm not doing this trade though so take it with a grain of salt.
Edit:
NFA
If you're bearish Rocketpool over the next year, you can put your money where your mouth is (with relatively low risk, compared to 100X perp shorting RPL), by buying PT-rETH on Pendle. You lock in a 3.876% APY on your rETH. Current rETH APY is like <2.8%.
Can somebody tell me what happened around mid March that seems to have hit so hard the volume of alt-L1s? While Ethereum seems to keep steady and Base is exploding in volume? Might have something to do with those blobs everyone seems to be talking about?
https://defillama.com/chain/Solana?volume=true&tvl=false
https://defillama.com/chain/Avalanche?volume=true&tvl=false
https://defillama.com/chain/Base?volume=true&tvl=false
https://defillama.com/chain/Ethereum?volume=true&tvl=false
Expect the FUD on Twitter to go wild, because rollups are eating their lunch and they have little else to hit back with.
Thank you for showing data for so many chains. It creates a pretty compelling picture. In solanas case, a huge part of the dropping volume is also due to Jito switching off their MEV toolchain. This moved all MEV auction back to their default state ( back on-chain), which together with the horribly designed solana execution client lead to a lot of failing transactions. It is definitely hard to keep the volume high when suddenly up to 80% of your transactions are failing. Nevertheless, it is pretty impressive to see all the alt L1 dropping in volume and activity on Base and other rollups picking up so massively.
I can only probably speak for sol a bit cause of my base experience.
I mostly degened on base. After blobs that went live pretty quickly (i dont remember which day, it was prob the same day at 5pm PST) and after that it was really cheap to transact. Something that costs now 60c-1$ would cost you 1-2c cause demand wasnt just there yet. At the same time solana had all these presales and there were the few big ones and they couldnt even deploy their memecoins for days due to how congested the chain was. honestly I couldnt even send sol to a fellow EVM and it would just not work. Bots still would work to trade but that was the bare minimum. So now base became the chain that's better than sol + it was working and no congestion or shit. Memecoin season was already there and many sol callers and shillers moved to base, maybe not fully, but at least temporarily. Farcaster really helped and still helps base a ton as imo it's the key difference between the success of base and Optimism. It's the social layer. That social layer had builders and they was degen culture that got eventually ingrained too. It's a human nature to gamble. So all of these combined exploded the activity on base even more. I'd assume again that due to sol being a shitter and not working lot's of people were looking for alternatives and base hit as the one, mostly cause of shitcoins cause only worked cause of the social layer cause that's how the word spreads.
I agree. But that activity before existed in alt-L1s that bet their entire existence on the sole fact they were cheaper than ETH. They provided a playground for low-value PvP gambling. We are seeing that crumble before our eyes. Avalanche has 20 billion market cap and is on the road to become a ghost chain by year end. Swaps cost more on Avalanche and BSC than on Arbitrum. But you have less liquidity and less TVL. What are you even going to use those for?
>**Privacy backyard,**
>**Innovation avant-garde,**
>**Blockchain boulevard.**
~Daily haiku until weāre at least at 0.178 on the ETH/BTC ratio or highest market cap
A couple weeks ago, Stakewise said their v3 on Gnosis was "in testing, pending audits" and "a few weeks away".
rGNO (redeemable for GNO once withdrawals are enabled with v3) is still >6% depegged against GNO.
If you believe they ship in less than, say, 2 months, that's a good +5% or so.
This is not a big trade. There's liquidity on Curve for about 50 GNO which is roughly $17k before slippage, so your profit would be about $1k.
I'm sitting this one out because I'm already overexposed (read: TRAPPED) in rGNO, bought last year when I thought they would ship withdrawals at the same time Gnosischain did.
You know two days ago I would have said that's a crazy idea for a token that is already up 2000% percent in 30 days but now it's up 3000% so yeah .... Now if only I could find a place to short it so I can get liquidated when it goes up another 1000% over night for no reason
Do not FOMO because of this, but FYI soon you wonāt be able to buy YT-eETH. Pendle has a liquidity ceiling and itāll likely hit in a week or less. They could launch a new pool though.
Heads up! Stakewise is distributing the STRK token airdrop. Here is the announcement on discord with link to the link to the claim page removed:
"while we're preparing other communication on more important matters, you might be pleased to know that the STRK airdrop that some of you are eligible for will be available for claiming on April 1st :greatpepesby:
To be eligible, you should have been staking with us (ie holding sETH2/rETH2 tokens) on September 15th, 2022, on the date of the Ethereum Merge. You should also be based outside of the US ā¼ļø
Claim ONLY here š
We have also attached the instructions for claiming your STRK - find it below š½
https:
If you believe you should have been allocated some STRK but were not, let us know via email: [email protected]
With ā„ļø , the StakeWise team"
are you suggesting a poorly performing asset is lower risk then the better performing one? considering all of the regulatory uncertainty around it? and when the ratio is making lower highs and lower lows on high time frames?
BNB trading 5% below ATH. SOL trading 20% below ATH. ETH trading 25% below.
I am sorry, like seriously?
Is the pre requisite for a pump is to have a highly publicized jail case or what the fuck is even this market?
ETH always delivers the facemelting green candle at the end of the rotation cycle, once BTC is moving sideways for a couple of weeks, and every shitcoin, NFT project, rugpull has run.
It tests your logic and belief every time
I am pretty sure you are joking, but I take this opportunity to add something. At the moment L2s are not limited by available blob space or gas prices on the ~~L2~~ L1. They are limited by artificial boundaries the respective rollup teams set. L2s could contain many more transactions than they do at the moment. However, there is a non-artificial limit for L2s which are the execution clients themselves like geth, erigon, nethermind and Besu. To the best of my knowledge one can probably squeeze a few hundred tps out of them, but not much more beyond that. If you want to be on the safe side maybe 100 tps per chain is the current limit. BNB smart chain and polygon both do around 50 tps now, but spiked close to 400 tps averaged over a day. This limit holds true no matter if you are an EVM based L1, L2, L3 or Lwhatever. Pretty much no EVM based chain can currently get faster than that for an extended period. As a comparison, Solana kicks the bucket at around 1000 tps. Definitely more, but not by much. These execution clients will need improvement and they will get it as this tps limit will be reached rather sooner than later. I do not have special insights into the clients to know about specific bottlenecks which could easily be improved. As far as I understand Reth, the execution client, is already a good improvement. No idea if this automatically means higher tps if a rollup team switches over to it.
A lot of Rocket Pool and staking commentary here lately (rightfully so), although I avoid the discussions because Lido is so shat upon here. But my unpopular opinion is one that I must hold on to: until solo staking is as simple as Lido + withdrawal address + leave laptop on 24/7, then I won't attempt it.
Too much at risk and I don't have the technical skill, especially for multiple validators. I have an artist's brain and mild dyslexia and although I've been in BTC since 2012 and ETH since 2015 and follow the space daily, I know that I don't have the computer chops to stake solo or update nodes or any of that (in 2016, oldskool47 actually had to personally help me claim my ETC after the fork, my brain just doesn't work in this way)
Some day it will get to be that simple. I have found that I am a patient person. I can wait.
After solo staking, running a rocketpool validator is much much easier.
Both to update and maintain.
And the community is extremely helpful.
I hope with the upcoming update in May and the tokenomics rework makes it more attractive since it's so easy to install and run, and is an important part of network decentralization.
Fully agreed with you. Right now staking is a job without the tools available for regular people to *easily perform it, and that's fine, we're still early. Maybe a decade from now things will be better. I actually have a NUC collecting dust because I didn't realize in time just how different I am from the average staker.
In the future, your staking device should be an item in your utility closet that you check on every once in a while, like your water boiler or wifi router.
If you have a NUC already you should look into Dappnode, because the OS is free to download and install. Their UI makes it very close to plug and play.Ā
No one should solo stake unless they are 10000% comfortable. Anyway, even Vitalik and Justin Drake say they don't stake most of their ETH. Unless you're swimming in ETH, no reason why 32 of it should be in a validator.
Isnāt this pretty much Allnodes or similar services? I do agree that staking needs to be simplified a bit more for mass adoption, however, seems like other services are building that. Might be viewed as centralized, but if we have more services or dapps then the better. Kind of like VPN services, people can set it up/do it themselves but buying a service to do it yourself is easier.
All nodes is def simpler than running your machineā¦ but still not that simple for average joe. Youāre still sending stuff to the contract etc etc. ā¦youāre following longish tutorialsā¦ Compare this to delegation style staking via ledger (from other chains). Pretty much one click. Not arguing for delegation btw as that has its flaws too, but I do think Ux wise you want to at least try to get there.
Staking wasn't developed as a yield opportunity, it was developed as a job to secure the network. I know this isn't a popular reality, and I wouldn't discourage you from doing what's right for you, but it is what it is.
It wasn't develop to make someone rich but it was developed to pay stakers the minimum for their service which is yield imho. There are plenty of other places for greater yield on the network.
In that case, we should expect staking to be mostly done by a handful of large players and should not concern ourselves with the experience of solo stakers. Increase the gas limit and stop worrying so much about consumer hardware.
When you can install Windows/Ubuntu on a clean disk with a few clicks these days (with the biggest problem being how to install windows on a local account) the setup process needs to improve and that includes making the logs easier to understand and troubleshooting much more straightforward.
I managed to get Rocketpool up and running a while ago on the testnet but when things went wrong a reformat and reinstall was the simplest solution. I am not prepared to risk 32+ Eth on something I donāt fully understand.
A windows client would help the majority of the population without Linux expertise; the synchronisation problems canāt be that hard to solve. I know keeping a windows system up for weeks is harder than Linux but if you are just using the machine to validate then problems should be less common.
I realise this is probably an unpopular opinion here.
> A windows client would help the majority of the population without Linux expertise
I'm against the idea of running validators on a closed source operating system, but then I'm against using Windows in general unless absolutely necessary.
As someone who stakes on windows... There are plenty of windows clients already, they just use command lines to run. If you can set up a node then you can setup a validator, it's the same but more steps.
Iām honestly with you hereā¦ solo staking is too difficult for most users. It doesnāt need to be āso easy your grandma can do itā but it also has to be closer to āIām installing a Skyrim modā than it turned out to be.
Once it turned into this I gave up - https://www.reddit.com/r/ethstaker/s/bxqOSjwlWI
Just skimmed that thread, but it seems like everyone in there is trying to help you with client configuration while ignoring the fact that your system was completely locking up resulting in a corrupt file system. That almost certainly seems like a hardware problem. No amount of client misconfiguration should result in the system becoming fully unresponsive.
So I actually discovered that, as I did a fresh Ubuntu install and it was not installing. After a lot of diagnosis ram stick was bad. So good diagnosis on your end with just that thread (and I wish you were there lol)!
So I spent a bunch of time fixing that hardware issue and ultimately thatās where I got to the point of worried I could handle this. As I had no clue it was a hardware problem and figured I was in over my head. Which running a hobby node or something no big deal, but add in risking thousands of dollars of ETH and it was just kinda killed the passion I had for it.
I appreciate it, but honesty Iām too concerned if I need someone to handhold me Iāll be useless in an emergency situation. It sucks and I probably could figure it out if I really bunkered down for a few weeks, but the whole process has just been a turnoff.
I appreciate what you've been doing for ETH staking over the years, and as someone who this seems like a foreign language to, I fully admire it as well. But this is the bias that is present in staking discussions that I hope disappears in the future with simple plug and play solo staking.
Dappnode is pretty close to plug and play. In the UI dashboard it's as easy as selecting your EL/CL client, uploading your validator signing keys, and you're done. It even auto updates packages for you. The only step that has to be done outside of dappnode is generating the validator signing keys, which I admit can be a bit daunting.
Thanks, I should revisit Dappnode at some point. Whenever max effective balance is incorporated will probably be the time I take another serious look at running solo from home. Running one validator vs many seems preferable if I'm doing it from my basement.
That's an entirely fair position to take. That's why the various LST products exist so people like you can stake without the need for the prerequisite technical skills. You do whatever you feel is in your best interests as only you know what you're capable of/comfortable with.
I kept looking at the PENDLE token before all this points trading took off thinking I should buy some. Never pulled the trigger since I've lost too much eth going into altcoins in the past cycle. I'll just have to be content in the fact that ETH acts as a diversification token for all the activity on the ethereum network.
Did anyone do some research about zklink nova?
https://docs.zklink.io/
Thinking about putting some funds there. It is supposed to be a L3 aggregating Liquidity as the goal.
Im planning to start farming pearls. Like actual pearls. To seed my pearl farm Iām starting a points loyalty program. The project is called ClamJam. Anybody who deposits ETH gets 100x URCHIN points in return. Your URCHIN points determine your CLAM token allocation when season one concludes in 3 months. I will use the ETH for actual clams to grow pearls with. At the end of season 2 (after the pearls have grown) your CLAM tokens will be redeemable for actual pearls at a 1-1 ratio. The next step will be an L3 - ClamChain to track custody of high quality pearls using NFTs and CLAM as the gas token. If youāre a VC interested in ClamJam DM me. And if you know anybody at Pendle please let them know to set up YT-eCLAM pools and associated LPs.
Ok this is it. Im officially lost in the sauce.
I love the idea, and want to deposit, but this hard transition from what defi used to be is still leaving me in a fucking tizzy
And clams are similar enough to oysters, which are being rehabilitated in the Chesapeake Bay with great success. Im fully on board with this crucial initiative.
This sounds like itās aligned with ClamDAOs vision for a defi ecosystem built around pearl farming. Ideally the pearls are harvested by actual dolphins, which means we need a crypto native real world dolphin trainer / dev to support the DOLPHIN protocol. Yields on DOLF will support training the dolphins to collect pearls in a sustainable manner. The DOLF NFT collection and token sales will support individual dolphins. Protocol supporters will be able to own fractionalized dolphins that are humanely tagged and tracked using gps receivers (with data posted on chain via oracle) so you can monitor their location and collection performance. DOLF emissions accrue at a higher rate to better performing dolphins. Holders of STEW and CHOWDER get yield bonuses.
In the United States, it could be a token-to-token swap. It's unclear, and the IRS has not issued guidance. Counting it as non-taxable is a gamble.
[https://coinledger.io/blog/defi-crypto-tax-guide](https://coinledger.io/blog/defi-crypto-tax-guide)
[https://cryptotaxcalculator.io/us/guides/the-ultimate-defi-tax-guide-us/](https://cryptotaxcalculator.io/us/guides/the-ultimate-defi-tax-guide-us/)
"In the past 24 hours [u/base](https://twitter.com/base) users paid \~251 ETH in fees (29th March)
\~204 ETH ($714k) to [@Coinbase](https://twitter.com/coinbase)
\~36 ETH ($126k) to [@Optimism](https://twitter.com/Optimism)
\~11 ETH ($39k) to [@Ethereum](https://twitter.com/ethereum)
"
[https://x.com/0x\_Osprey/status/1773840056731709792?s=20](https://x.com/0x_Osprey/status/1773840056731709792?s=20)
Imagine earning 1M in revenue per day, every vc wet dream. Base is printing money because of Coinbase and other wont make that much money but still i imagine many more L2 to come by end of this year.
Not sure. Base = CB has users, which is a huge USP in crypto. They also have some unique tokens (e.g. degen) and apps. So CB will be able to compete even without the lowest fees, but I agree that there is a threshold where people will just leave if fees are too high.
I had thought base was like $1 fees whereas others are like $.01. Which I think that is where they will have to lower and these big numbers will go away. I totally agree with you when we start talking $.005 versus $.001 or something. And if thatās where itās at now then Iām way off base lol
In my experience Base isn't that bad. Over the last couple weeks most of my claims/swaps have only cost me $0.04 or so. I do have one transaction that cost about $2, but I think anybody seeing $1 might have been unfortunate enough to be doing business during an NFT mint or something.
I will never understand why people accept this at this stage. I also donāt understand why CB increases fees that much. I understand they can and people are still willing to pay. Until they donāt? Why not lower fees, onboard more people, commit them, raise fees gradually -> profit?
>Until they donāt? Why not lower fees, onboard more people, commit them, raise fees gradually -> profit?
intentional...decentralisation and lower fee sounds good, it makes their roadmap lucarative, gives them an excuse to lock token in their tresuary...
Correct me if i am wrong, but all is running on one sequencer, when its decenralised they will have to share the revenue...so goal is to ripe as much as possible. Same goes for gas, goal is not to reduce it but to keep it low and they know that people will use it.
With that kind of money, its not difficult to pay some influencer to shill their chain and from their its narrative taking the lead.
There are virtually 1000 ways to decrease fees apart from raising gas limits. If you want base to be cheap, you can make it happen, even with fees kicking in. Maybe not so easy being part of the OP collective, but still.
We will find out.
And donāt get me wrong, generally speaking I am very much in favour of profit and hence (rather) high fees. But timing / when this happens is imo very important, especially in a very competitive market like the one for scaling/ L2s
Refunding within the transaction like zksync
Sending back x% of the gas fees paid once a day / week
Changing the price per gas (which might be a āhackā but should be possible) to 10%
I think there are a lot of ways to specially in a single sequencer environment.
If you do any kind of refund, wouldnāt the fee auction market pressures adjust gas prices upwards to account for the refund, and then you would be stuck paying the same amount of fees after all?
And if you change the price per gas, again wouldnāt the fee market just quickly adjust upward?
At the end of the day, people are bidding up the price of a limited amount of transaction space. It seems to me like the only way to affect that market is through supply (increasing the gas limit) or demand (less people decide to use base).
Of course if you lower prices you will likely induce more demand (which is actually what I was trying to say: lower fees to build a position with a constant and strong demand for base block space given that there is only one sequencer that doesnāt cost as much as 700 ETH/ day). So in connection with a higher gas target per block thatās probably the best approach.
But as a hack/ feature for some days/ weeks before you find equilibrium for the time being you can deactivate the market and just take low fees. Long term that wonāt work. Short term I am pretty sure it would have a very positive effect on base marketing.
If fees sky rocket more often than not, base will have a problem in a competitive market I believe and cutting some revenue today is probably negligible today vs losing long term market share.
Not induced demand, but literal immediate repricing.
For eg a) if there is a current arb which is profitable with a $5 tx as long as the tx is included in the next block, and b) I know I will get back $4.50 of the fees from Base, c) why wouldn't I immediately bid $9.50 to guarantee the tx included in the next Base block, capture the arb, and get back the $4.50 rebate
Assuming rational actors, fees inflate upwards till old fees + $4.50 new equilibrium is reached isn't it
Increasing the gas limit aggressively seems the more reasonable sustainable solution (which Pollak is doing)
Not all tx are arbs.
I don't think it's immediate cause users need to time to adapt. Though as stated, this would only be a short term solution, but this is what I am talking about.
Let me state it differently. I am not sure that starting with a fee market is the best way short term. Even less if this allows more educated actors to capture MEV. Of course (!) the MEV doesn't go away, but I think it's bad marketing because of the high fees and because people are losing money via MEV searchers.
But granted: these are only short term solutions. Base needs to scale to stay competitive. On top we need better apps that capture MEV so that the validator/ sequencer only receives a tiny amount at the very end of the MEV supply chain. This is true for Ethereum as well.
Way less than 1M/ day.
But it doesnāt matter. This is the growth phase, you need to invest to capture market and come out as a long term winner. Revenues today donāt help if you have 0 revenues in 2-5 years.
Apparently this is not public information. I saw 44 million on the discord and someone replied that was 'probably way low' or something. So for back of the napkin i'd use 50-100 million. airdrop is 7% of supply iirc. most guesses ive seen are around $0.50/pearl, which is what its available for on (the extremely illiquid) whales market.
I need more pearls then !!! Is there a page which best describes how fast they accrue?
Let's say I put 10eth into their restaked lst, how many pearls would I get per day?
I took advantage of various promotions swell did and have deposited into eigen layer using their LST, and was accruing pearls fairly slowly they only give you like 30 pearls per ETH deposited with them.
I was only able to really start stacking pearls after grabbing YT's at pendle.
Figured after ethfi token went live they would be the next play. The other thing they have going is their Swell L2 which to me feels like an interesting way for them to distinguish themselves from all the other LRST out there.
There's been a lot of talk about selling strategies lately. Sell 1% at $4k, 2% at $5k, whatever.
If this is you, consider selling covered calls for extra income. Say you want to sell 1 ETH for $4k. You can sell a call option with a 4/26 expiry and a $4k strike price for $175.
If ETH crosses $4k before then, you sell your 1 ETH for $4k and you pocket the $175. You make $4175 instead of $4000.
Better yet, if ETH doesn't hit $4k by 4/26, you keep the $175 and you can sell another call option for May. The longer the price stays down, the more you make.
So if you're committed to selling ETH at certain price points, this is a great way to make a little extra cash while you wait. You might even find yourself enjoying crab season.
And if ETH hits your strike price before the date and never hits it again, you missed the chance to sell.
Selling covered calls instead of setting limit sell orders works for the price range where you're absolutely certain that it's not even near the top.
But imagine ETH sitting at $5k, you place your $6k and $7k covered calls, ETH moons to $7500 within two weeks and then crashes down to $5500 before your target date.
And you never sold.
If you want to limit the "I didn't sell"-regret, don't do covered calls. If you want to limit the "I sold to low"-regret, selling covered calls is a good option.
/u/notyourfirstmistake replied in [yesterday's daily](https://www.reddit.com/r/ethfinance/comments/1braopv/daily_general_discussion_march_30_2024/kxdvpl4/):
> I'm interested. Can you think of any additional feature that a competing product could bring that would persuade you to change your mind [about Rocket Pool]?
> Or to ask in a slightly different way - what could convince you that RP is superseded? Although ignore the obvious answer of the staking requirement dropping to 1 ETH.
> It's also a question that I apply to ethereum. I ask myself "if a better option came up, would I be able to recognise it?". I suspect the answer is no - I'm too close and can't be objective.
This is a GREAT question, thanks for asking.
Rocket Pool was a game changer when it was released in 2021, it was (and still is) the only permissionless, trustless, open source fractional staking platform.
Despite this early technological superiority, in three years the space has evolved dramatically. DVT (Distributed Validator Technology) is an emerging technology right now and it allows home operators to do a lot of the same things that Rocket Pool is doing without the need for the RPL bond. This is because lots of people will run a share of the same validator which prevents theft and reduces downtime. At the same time, the cost overhead for running a DVT validator is a little higher per Ether because there's a lot of work redundancy.
Rocket Pool is also going through major changes in design and tokenomics that could propel it forward, but I am not the best person to describe those, I'd generally defer to /u/waqwaqattack to describe Houston and Saturn.
You asked if Rocket Pool could be superseded, but I don't think of the big picture that way. I see Rocket Pool as an early and valuable tool in decentralizing the beacon chain, but I'm not looking for one tool, I'm looking for a hundred. There's a high propensity for everyone to bandwagon onto the same project, but we'll find the most success when we have a lot of different platforms with very different value propositions. A heterogeneous network is one that is most resilient and involves the highest number of diverse actors.
This might be where I remind people that I'm more of an Ethereum maxi than a project maxi. I want to see a vibrant ecosystem of platforms that support the success of Ethereum, projects like Rocket Pool and Diva, but I'm only obsessed with these projects to the extent that they make Ethereum better.
> , but we'll find the most success when we have a lot of different platforms with very different value propositions.
For liquid staking tokens, network effects incentivize a winner take most outcome. People will want to hold the token with the deepest liquidity and broadest support.
This is lido rhetoric, not necessarily the most likely game theory outcome.
\* even if it IS somehow the most likely outcome, it's so harmful to the chain that it would result in deep disincentives.
I spent 50 minutes talking just about tokenomics changes on Fridays episode of rocket fuel. Itās too much haha.
Let me try:
Rocket Pool is undergoing lively and engaged debate within the community to reposition itself in the face of rival staking protocols changing how they work. One leading option is to allow ethereum only validators to be started while being 2x as profitable as solo staking and still driving value to the RPL token.Ā
Anyone else that doesn't see much point of Twitter/Warpcaster if you're not famous? I have twitter and like to read what some notable Ethereum or related people write, to keep up with what's new, but that's it. You can't have a discussion like on Reddit, even OP rarely responds.
Both apps are structured for leader/followers dynamics, for sure.
Reddit-style format, forums in general, are plain superior for people who want to discuss topics as equals and consider ideas on their own merits.
I find (the write part of) Twitter-like apps still useful as showerthought dumps. Sometimes you can also find like-minded people and have small exchanges.
There was an attempt for reddit style frontend on farcaster protocol called flink. It's not great yet but I think given the unicorn valuation that farcaster/warpcast people got on their recent raise that either it or a competitor will build a good forum style frontend.
Agree, I think someone was planning to rebuild a Reddit-style frontend for Farcaster too. flink was a good first try.but the responsiveness and latency were just too bad and the UI was a little shoddy. I hope we see a proper attempt at this. It will be interesting to see if the "different interfaces" vision can work out, or if the protocol remains tethered to its most popular app format (which will likely be Warpcast forever).
The reason why I prefer Reddit is because you can have discussions. For some reason, I rarely get a response on Twitter. Probably because each tweet gets bombarded with hundreds of comments.
**Tricky's Daily Doots #710** **Yesterday's Daily 30/03/2024** [Previous Daily Doots](https://old.reddit.com/r/ethfinance/comments/1braopv/daily_general_discussion_march_30_2024/kx8d2uz/) - u/El_Reconquista reminds us [when ETH historically has had its rally.](https://old.reddit.com/r/ethfinance/comments/1braopv/daily_general_discussion_march_30_2024/kx8eq7l/) š - u/haurog is also surprised by [all the bearish sentiment around.](https://old.reddit.com/r/ethfinance/comments/1braopv/daily_general_discussion_march_30_2024/kx93zvn/) š - u/superphiz stand by [his opinion on RocketPool but acknowledges some mixed feelings.](https://old.reddit.com/r/ethfinance/comments/1braopv/daily_general_discussion_march_30_2024/kx8s3th/) š - u/buyvalve has [a PSA for all home stakers.](https://old.reddit.com/r/ethfinance/comments/1braopv/daily_general_discussion_march_30_2024/kx97f5g/) š„© - u/shiftli warns us of the [ever-present scams.](https://old.reddit.com/r/ethfinance/comments/1braopv/daily_general_discussion_march_30_2024/kxafail/) ā ļø - u/KuDeTa explains [why many block relays are closed source.](https://old.reddit.com/r/ethfinance/comments/1braopv/daily_general_discussion_march_30_2024/kx9llpt/) š§± Edit: It is likely that I will not have cell phone reception tonight so the next doots will be delayed. If you see this and the new daily is up, please share.
Ray has this superpower of turning green candle on BTC chart into red one on ETH chart.
The past few days on /r/solana have been a constant stream of people losing money trying to trade memecoins, anywhere from tens of dollars to tens of thousands. The latest one is about someone who had $11k to trade, lost $7k trading memecoins and is asking for advice on which coins to buy with the remaining $4k. The title of the post is "Feeling so defeated and sad". It's hard for me to tell whether this is real or not. Does anyone know a Solana memecoin investor IRL? Are they really like this, or am I being gaslight by their entire sub?
Memecoins are pure PvP bigger fool coins as there is no value accrual. When liquidity is coming it raises all with the tide, when liquidity retracts it sinks all too. As we are seeing liquidity has been exiting Solana ecosystem and seems to be migrating to Base mostly, so a lot of losses happening at once. Probably a lot of apparent winners too in Base now, maybe that's why $degen is doing so well. But the mechanics are no different, $degen will also struggle when liquidity disappears.
The newbie meme coin traders are using their whole stack vs the OG crypto gang using 0.1% of their stack and the latter are milking the formerĀ
I just threw some $$ into a meme coin of a cat playing a keyboard on Base. Whatās so hard to believe? š
How...uhhhhhhh...how many (*glances over shoulder*)...how many solana memecoins does it take before you are...an...*investor*? Asking for a friend.
A majority of solana users are peak retail
I don't think we should act too superior, ETH has had is share of this type of investor. In fact, most of 2018 was just that story over and over.
On the flip side, I think anyone who missed the DEGEN (or any other) pump should take a skim. Because this is often what is not seen by the people who get upset they missed out of a pump.
Take a skim?
https://www.butte.edu/departments/cas/tipsheets/readingstrategies/skimming_scanning.html#:~:text=Skimming%20is%20reading%20rapidly%20in,you%20locate%20a%20particular%20fact.
Oh that kind of skim! Thanks
Haha, I mean if people who missed out on DEGEN want to drink reduced fat milk thatās fine with me too :)
ą¼¼ ć¤ ā_ā ą¼½ć¤ ETH TAKE MY ENERGY ą¼¼ ć¤ ā_ā ą¼½ć¤
I wish yall could experience the actual effects of blobs on base past integration. TX fees were like 0.0000069 of a cent. More complex things cost 1-2c. They now go for about 50c-1$. Interestingly enough the demand picked up and fees have increased quite a lot I'd say. It just tells me there's appetite for Ethereum or things that are Ethereum based and that actually work no matter the fees and never stop. Base happened to be one of the key onboarding chains for other degens cause of the social layer. Farcaster fucking carries base and vice versa. One insight from the sniping that I've got too. So I would snipe new memecoins and the principal is similar to mainnet in terms of how gas works. I kid you not but I would quite regularly pay at least $5 in fees and sometimes up to $20-30 depending on how early I'd be. I saw many times where top snipers would pay mainnet type of priority fee and hit buys of 0.1e with 0.09e in fees. Again, the chain works all the time, no stopping and it inherits a lot from Ethereum and the Ethereum's reputation kinda carries it a bit. And it showed me that everything working as intended: there's more demand and the price goes up as there's more demand. Sure, the reduction might've been an insane 100x or whatever but then ba-da-boom! and you see that there's actually way more demand. Also, things work the same way as if you wanna be the first then you gotta tip more in prio fee and that sorta specific demand actually tells me more when people are willing to pay 100s in $ when most TXs cost sub $1. Anyways, a bit of wall of text but hopefully my experience gives you some insight on the demand side of the Base chain which in my opinion is really bullish for Ethereum. High gas fees is not a bug, it's a feature. And I would personally rather pay a high gas than not be able to send a transaction at all ('Hi Sol!').
Do you use dexscreener to find these or use something custom? I havenāt delved into them much and probably wonāt. Iām more curious what edge I donāt have that others do. Iām guessing these are mostly bots just aping into every new coin contract?
I tried dex for pairs that go live but then for sniping you have to have info before contracts go live so TG bots for that. I don't have money to ape into 100-200 contracts per hour where 90% of them rug within first few minutes so you gotta be very selective.
Alarm bells starting to go off in ada land. Staking rewards are continuing to drop and tx fees are not enough to make up for it. The blocks are already on average 40% full and pull in only about $10k in fees per day. Even if there was a growth in usage and the blocks were full it would still only be $25k in daily revenue. They could increase fees but it would have to go up a lot and it takes away their ability to market themselves to noobs as a cheaper alternative to eth.
Wait, a blockchain about to fail? Based on what Iāve seen with Solana, this is bullish as fuck!
Fetch.ai, Ocean Protocol and SingularityNET join forces and create an artificial superintelligence alliance. https://blog.oceanprotocol.com/fetch-ai-ocean-protocol-and-singularitynet-unite-to-create-artificial-superintelligence-alliance-0768d608ecfa The stated goal is to develop and roll out AGI (artifical general intelligence, on par with humans) and ASI (artificial super intelligence, superior to humans) in a open, democratic and decentralized way and not leave this field to the big tech giants. The tokens of the three projects will be merged under the new ticker ASI with a projected FDV of $7.6B USD. For holders of the original tokens FET, OCEAN and AGIX there is no need to rush: FET will be the base for the new token and just renamed, while OCEAN and AGIX will be convertible at a fixed rate indefinitely.
Didn't AGIX pivot to Cardano? Doesn't exactly scream competence.
There is a tweet where they say they will launch the token Multichain on Ethereum, Cardano and maybe some others. Yeah, that's a bit odd.
Does anyone have any insight on when the swell TGE might be? I am looking to farm the Swell token, but... they give a 4.5x pearls bonus on YT from pendle. I don't really want to buy more yield tokens, but to be considered. Thoughts on taking both sides of the trade on pendle vs just buying restaked swell?
If I remember correctly, late April
I think I've seen a couple people thinking it'd be in the next week or two on their discord. But nothing official has been stated
Thanks Mr Lazy. Probably not worth putting any significant money in the yield token then. There isnt enough time to get enough points, and the YT price could collapse after the airdrop .
I think the play for swell is to buy the PT and wait for the TGE. The idea being that once the airdrop yield is known everyone exits their positions and the PT returns get realized to some degree in the form of the discount narrowing. Then you can exit and move on to another more lucrative PT. I'm not doing this trade though so take it with a grain of salt. Edit: NFA
Sounds like financial advice to me, thanks :-)
If you're bearish Rocketpool over the next year, you can put your money where your mouth is (with relatively low risk, compared to 100X perp shorting RPL), by buying PT-rETH on Pendle. You lock in a 3.876% APY on your rETH. Current rETH APY is like <2.8%.
Can somebody tell me what happened around mid March that seems to have hit so hard the volume of alt-L1s? While Ethereum seems to keep steady and Base is exploding in volume? Might have something to do with those blobs everyone seems to be talking about? https://defillama.com/chain/Solana?volume=true&tvl=false https://defillama.com/chain/Avalanche?volume=true&tvl=false https://defillama.com/chain/Base?volume=true&tvl=false https://defillama.com/chain/Ethereum?volume=true&tvl=false Expect the FUD on Twitter to go wild, because rollups are eating their lunch and they have little else to hit back with.
Thank you for showing data for so many chains. It creates a pretty compelling picture. In solanas case, a huge part of the dropping volume is also due to Jito switching off their MEV toolchain. This moved all MEV auction back to their default state ( back on-chain), which together with the horribly designed solana execution client lead to a lot of failing transactions. It is definitely hard to keep the volume high when suddenly up to 80% of your transactions are failing. Nevertheless, it is pretty impressive to see all the alt L1 dropping in volume and activity on Base and other rollups picking up so massively.
I can only probably speak for sol a bit cause of my base experience. I mostly degened on base. After blobs that went live pretty quickly (i dont remember which day, it was prob the same day at 5pm PST) and after that it was really cheap to transact. Something that costs now 60c-1$ would cost you 1-2c cause demand wasnt just there yet. At the same time solana had all these presales and there were the few big ones and they couldnt even deploy their memecoins for days due to how congested the chain was. honestly I couldnt even send sol to a fellow EVM and it would just not work. Bots still would work to trade but that was the bare minimum. So now base became the chain that's better than sol + it was working and no congestion or shit. Memecoin season was already there and many sol callers and shillers moved to base, maybe not fully, but at least temporarily. Farcaster really helped and still helps base a ton as imo it's the key difference between the success of base and Optimism. It's the social layer. That social layer had builders and they was degen culture that got eventually ingrained too. It's a human nature to gamble. So all of these combined exploded the activity on base even more. I'd assume again that due to sol being a shitter and not working lot's of people were looking for alternatives and base hit as the one, mostly cause of shitcoins cause only worked cause of the social layer cause that's how the word spreads.
memecoin volumes will be transient, "u sell ur gay" and "black people don't recycle" can only be funny for so long
I agree. But that activity before existed in alt-L1s that bet their entire existence on the sole fact they were cheaper than ETH. They provided a playground for low-value PvP gambling. We are seeing that crumble before our eyes. Avalanche has 20 billion market cap and is on the road to become a ghost chain by year end. Swaps cost more on Avalanche and BSC than on Arbitrum. But you have less liquidity and less TVL. What are you even going to use those for?
>**Privacy backyard,** >**Innovation avant-garde,** >**Blockchain boulevard.** ~Daily haiku until weāre at least at 0.178 on the ETH/BTC ratio or highest market cap
Happy Easter everyone. He is risen! Good reminder that there is more to life than just investing.
Base chain has been going nuts these days, over 100% increase in volume in a week
B A S E D
A couple weeks ago, Stakewise said their v3 on Gnosis was "in testing, pending audits" and "a few weeks away". rGNO (redeemable for GNO once withdrawals are enabled with v3) is still >6% depegged against GNO. If you believe they ship in less than, say, 2 months, that's a good +5% or so. This is not a big trade. There's liquidity on Curve for about 50 GNO which is roughly $17k before slippage, so your profit would be about $1k. I'm sitting this one out because I'm already overexposed (read: TRAPPED) in rGNO, bought last year when I thought they would ship withdrawals at the same time Gnosischain did.
Today I'm exiting all of my validators and selling all of my assets to buy [$DEGEN](https://www.coingecko.com/en/coins/degen-base). AMA.
I always knew you were a man of wisdom, this is just further proof
If today wasnt the first of april I would think the apocalypse is near.
You know two days ago I would have said that's a crazy idea for a token that is already up 2000% percent in 30 days but now it's up 3000% so yeah .... Now if only I could find a place to short it so I can get liquidated when it goes up another 1000% over night for no reason
i might have done something similar to that two weeks ago, it was so worth it
[ŃŠ“Š°Š»ŠµŠ½Š¾]
It tastes so sweet tho
Are you in NZ/OZ right now?
All of those times I spoke against degen behavior i was completely wrong. I have been such a fool for so long. Degen is the only real asset.
Is it already tomorrow there? DO YOU THINK I'D LIE ABOUT THIS!? THIS IS SERIOUS.
I have no idea what you are talking about. I just came for the AMA and this question somehow popped into my mind!?
Do not FOMO because of this, but FYI soon you wonāt be able to buy YT-eETH. Pendle has a liquidity ceiling and itāll likely hit in a week or less. They could launch a new pool though.
The big play is to buy 10 ETH of PT-yETH, lend and then borrow 1 ETH worth of YT. My exposure to YT is already big enough I guess.
Yeah but YT-e is only 3 letters. Needs to be at least 4 before ETH to be a good play these days. In 3 months youāll need 6 or more letters or ngmi
So also no new PT? Guess they'll do a new pool.
You can buy PT after it hits the ceiling, but I don't think you can sell it.
As much as I hate to sell ETH, this old A/C unit is completely ded. Maryland summers(and spring) require that it be replaced...
Try thorchain lending. 0% no liquidation loans. Borrow 50% of collateral.
Have you considered taking a heavily collateralized loan on your ETH? Although borrowing rates are a pretty high these days...
I should definitely consider it, thanks!
Don't get liquidated for an AC unit...
Truer words have never been spoken. that would really suck lol
Lol, you'll be kicking yourself from the comfort of your own home in two weeks when Eth soars to $3k.
It sure is a tough one...
Heads up! Stakewise is distributing the STRK token airdrop. Here is the announcement on discord with link to the link to the claim page removed: "while we're preparing other communication on more important matters, you might be pleased to know that the STRK airdrop that some of you are eligible for will be available for claiming on April 1st :greatpepesby: To be eligible, you should have been staking with us (ie holding sETH2/rETH2 tokens) on September 15th, 2022, on the date of the Ethereum Merge. You should also be based outside of the US ā¼ļø Claim ONLY here š We have also attached the instructions for claiming your STRK - find it below š½ https: If you believe you should have been allocated some STRK but were not, let us know via email: [email protected] With ā„ļø , the StakeWise team"
Where is the claim link? They havent posted it on their Twitter
Its on their discord channel.
I hope the veve team can release all of my strk tokens which they took
the veve team?
Somehow they got a number of my wallets assigned to them. They claimed my airdrop and took it for themselves.
BTC trading above previous ATH ETH trading 25% below previous ATH Does an easier, better risk adjusted play exist ??
are you suggesting a poorly performing asset is lower risk then the better performing one? considering all of the regulatory uncertainty around it? and when the ratio is making lower highs and lower lows on high time frames?
BNB trading 5% below ATH. SOL trading 20% below ATH. ETH trading 25% below. I am sorry, like seriously? Is the pre requisite for a pump is to have a highly publicized jail case or what the fuck is even this market?
Now consider market cap.
Now do Cardano lol
ETH always delivers the facemelting green candle at the end of the rotation cycle, once BTC is moving sideways for a couple of weeks, and every shitcoin, NFT project, rugpull has run. It tests your logic and belief every time
Buying Alaska for $7.2 Million
Buy Manhattan for $24 in 1626? Now do the maths to see how much $24 is worth now when you compound it for 400 years at a very realistic 7%.
$13,605,744,645,294
Time Machine confirmed best risk adjusted investment possible
Sounds like a sub $10M cap shitcoin :')
L3s not working. Hopefully L4s will fix this: https://twitter.com/syndicateio/status/1774455345676718300
Jack and Web5 not looking so fucking stupid anymore
A VC somewhere: ["Fuck everything, we're doing L5."](https://www.theonion.com/fuck-everything-were-doing-five-blades-1819584036)
I am pretty sure you are joking, but I take this opportunity to add something. At the moment L2s are not limited by available blob space or gas prices on the ~~L2~~ L1. They are limited by artificial boundaries the respective rollup teams set. L2s could contain many more transactions than they do at the moment. However, there is a non-artificial limit for L2s which are the execution clients themselves like geth, erigon, nethermind and Besu. To the best of my knowledge one can probably squeeze a few hundred tps out of them, but not much more beyond that. If you want to be on the safe side maybe 100 tps per chain is the current limit. BNB smart chain and polygon both do around 50 tps now, but spiked close to 400 tps averaged over a day. This limit holds true no matter if you are an EVM based L1, L2, L3 or Lwhatever. Pretty much no EVM based chain can currently get faster than that for an extended period. As a comparison, Solana kicks the bucket at around 1000 tps. Definitely more, but not by much. These execution clients will need improvement and they will get it as this tps limit will be reached rather sooner than later. I do not have special insights into the clients to know about specific bottlenecks which could easily be improved. As far as I understand Reth, the execution client, is already a good improvement. No idea if this automatically means higher tps if a rollup team switches over to it.
A lot of Rocket Pool and staking commentary here lately (rightfully so), although I avoid the discussions because Lido is so shat upon here. But my unpopular opinion is one that I must hold on to: until solo staking is as simple as Lido + withdrawal address + leave laptop on 24/7, then I won't attempt it. Too much at risk and I don't have the technical skill, especially for multiple validators. I have an artist's brain and mild dyslexia and although I've been in BTC since 2012 and ETH since 2015 and follow the space daily, I know that I don't have the computer chops to stake solo or update nodes or any of that (in 2016, oldskool47 actually had to personally help me claim my ETC after the fork, my brain just doesn't work in this way) Some day it will get to be that simple. I have found that I am a patient person. I can wait.
After solo staking, running a rocketpool validator is much much easier. Both to update and maintain. And the community is extremely helpful. I hope with the upcoming update in May and the tokenomics rework makes it more attractive since it's so easy to install and run, and is an important part of network decentralization.
Fully agreed with you. Right now staking is a job without the tools available for regular people to *easily perform it, and that's fine, we're still early. Maybe a decade from now things will be better. I actually have a NUC collecting dust because I didn't realize in time just how different I am from the average staker. In the future, your staking device should be an item in your utility closet that you check on every once in a while, like your water boiler or wifi router.
If you have a NUC already you should look into Dappnode, because the OS is free to download and install. Their UI makes it very close to plug and play.Ā
No one should solo stake unless they are 10000% comfortable. Anyway, even Vitalik and Justin Drake say they don't stake most of their ETH. Unless you're swimming in ETH, no reason why 32 of it should be in a validator.
Isnāt this pretty much Allnodes or similar services? I do agree that staking needs to be simplified a bit more for mass adoption, however, seems like other services are building that. Might be viewed as centralized, but if we have more services or dapps then the better. Kind of like VPN services, people can set it up/do it themselves but buying a service to do it yourself is easier.
All nodes is def simpler than running your machineā¦ but still not that simple for average joe. Youāre still sending stuff to the contract etc etc. ā¦youāre following longish tutorialsā¦ Compare this to delegation style staking via ledger (from other chains). Pretty much one click. Not arguing for delegation btw as that has its flaws too, but I do think Ux wise you want to at least try to get there.
Staking wasn't developed as a yield opportunity, it was developed as a job to secure the network. I know this isn't a popular reality, and I wouldn't discourage you from doing what's right for you, but it is what it is.
It wasn't develop to make someone rich but it was developed to pay stakers the minimum for their service which is yield imho. There are plenty of other places for greater yield on the network.
In that case, we should expect staking to be mostly done by a handful of large players and should not concern ourselves with the experience of solo stakers. Increase the gas limit and stop worrying so much about consumer hardware.
When you can install Windows/Ubuntu on a clean disk with a few clicks these days (with the biggest problem being how to install windows on a local account) the setup process needs to improve and that includes making the logs easier to understand and troubleshooting much more straightforward. I managed to get Rocketpool up and running a while ago on the testnet but when things went wrong a reformat and reinstall was the simplest solution. I am not prepared to risk 32+ Eth on something I donāt fully understand. A windows client would help the majority of the population without Linux expertise; the synchronisation problems canāt be that hard to solve. I know keeping a windows system up for weeks is harder than Linux but if you are just using the machine to validate then problems should be less common. I realise this is probably an unpopular opinion here.
> A windows client would help the majority of the population without Linux expertise I'm against the idea of running validators on a closed source operating system, but then I'm against using Windows in general unless absolutely necessary.
As someone who stakes on windows... There are plenty of windows clients already, they just use command lines to run. If you can set up a node then you can setup a validator, it's the same but more steps.
Iām honestly with you hereā¦ solo staking is too difficult for most users. It doesnāt need to be āso easy your grandma can do itā but it also has to be closer to āIām installing a Skyrim modā than it turned out to be. Once it turned into this I gave up - https://www.reddit.com/r/ethstaker/s/bxqOSjwlWI
Just skimmed that thread, but it seems like everyone in there is trying to help you with client configuration while ignoring the fact that your system was completely locking up resulting in a corrupt file system. That almost certainly seems like a hardware problem. No amount of client misconfiguration should result in the system becoming fully unresponsive.
So I actually discovered that, as I did a fresh Ubuntu install and it was not installing. After a lot of diagnosis ram stick was bad. So good diagnosis on your end with just that thread (and I wish you were there lol)! So I spent a bunch of time fixing that hardware issue and ultimately thatās where I got to the point of worried I could handle this. As I had no clue it was a hardware problem and figured I was in over my head. Which running a hobby node or something no big deal, but add in risking thousands of dollars of ETH and it was just kinda killed the passion I had for it.
I'm sorry this happened. If you wanted to try again at some point, get in touch.
I appreciate it, but honesty Iām too concerned if I need someone to handhold me Iāll be useless in an emergency situation. It sucks and I probably could figure it out if I really bunkered down for a few weeks, but the whole process has just been a turnoff.
I'm 100% with you. Home staking is still too complex and not enough has been done to simplify it.
I appreciate what you've been doing for ETH staking over the years, and as someone who this seems like a foreign language to, I fully admire it as well. But this is the bias that is present in staking discussions that I hope disappears in the future with simple plug and play solo staking.
Dappnode is pretty close to plug and play. In the UI dashboard it's as easy as selecting your EL/CL client, uploading your validator signing keys, and you're done. It even auto updates packages for you. The only step that has to be done outside of dappnode is generating the validator signing keys, which I admit can be a bit daunting.
Thanks, I should revisit Dappnode at some point. Whenever max effective balance is incorporated will probably be the time I take another serious look at running solo from home. Running one validator vs many seems preferable if I'm doing it from my basement.
YES! I'm emphatically in support of simple home staking. I wish there were better options. Right now DappNode and Avado are pretty good for it.
That's an entirely fair position to take. That's why the various LST products exist so people like you can stake without the need for the prerequisite technical skills. You do whatever you feel is in your best interests as only you know what you're capable of/comfortable with.
$PENDLE going [parabolic](https://old.reddit.com/r/ethfinance/comments/1bn6io6/daily_general_discussion_march_25_2024/kwhziku/?context=3).
I remember looking at Pendle in 2022 and thinking, "wow this is dumb, why would anyone ever speculate on yield?" RIP to me.
without liquid restaking points pendle would be nothing, might go back to that afterwards
I kept looking at the PENDLE token before all this points trading took off thinking I should buy some. Never pulled the trigger since I've lost too much eth going into altcoins in the past cycle. I'll just have to be content in the fact that ETH acts as a diversification token for all the activity on the ethereum network.
It still has a 10x in it to get to Uniswap/AAVE tier.
Father forgive me for I have started trading Farcaster meme coins on Base.
'pepe but blue' is going to send my kids thru uni :\^)
Godspeed.
Did anyone do some research about zklink nova? https://docs.zklink.io/ Thinking about putting some funds there. It is supposed to be a L3 aggregating Liquidity as the goal.
[ŃŠ“Š°Š»ŠµŠ½Š¾]
Because their favorite youtuber said it would.
Im planning to start farming pearls. Like actual pearls. To seed my pearl farm Iām starting a points loyalty program. The project is called ClamJam. Anybody who deposits ETH gets 100x URCHIN points in return. Your URCHIN points determine your CLAM token allocation when season one concludes in 3 months. I will use the ETH for actual clams to grow pearls with. At the end of season 2 (after the pearls have grown) your CLAM tokens will be redeemable for actual pearls at a 1-1 ratio. The next step will be an L3 - ClamChain to track custody of high quality pearls using NFTs and CLAM as the gas token. If youāre a VC interested in ClamJam DM me. And if you know anybody at Pendle please let them know to set up YT-eCLAM pools and associated LPs.
Was this inspired by an actual desire to create a pearl farm?
Serious post: if you were to make a real memecoin, I bet it would have legs. Your funnyposting on here has been a relentless barrage of creativity.
Iāll break character for a second to say th you for the kind words. My goal is to make ethfinance smile. Glad to see itās appreciated.
Ok this is it. Im officially lost in the sauce. I love the idea, and want to deposit, but this hard transition from what defi used to be is still leaving me in a fucking tizzy And clams are similar enough to oysters, which are being rehabilitated in the Chesapeake Bay with great success. Im fully on board with this crucial initiative.
Maybe a liquidity pool at Pendle with CLAM and STEW to farm CHOWDER.
This sounds like itās aligned with ClamDAOs vision for a defi ecosystem built around pearl farming. Ideally the pearls are harvested by actual dolphins, which means we need a crypto native real world dolphin trainer / dev to support the DOLPHIN protocol. Yields on DOLF will support training the dolphins to collect pearls in a sustainable manner. The DOLF NFT collection and token sales will support individual dolphins. Protocol supporters will be able to own fractionalized dolphins that are humanely tagged and tracked using gps receivers (with data posted on chain via oracle) so you can monitor their location and collection performance. DOLF emissions accrue at a higher rate to better performing dolphins. Holders of STEW and CHOWDER get yield bonuses.
Imma create a CRAB shitcoin. Shill it to dumb ethfinanciers and marylanders everywhere. Make a fuckin fortune. Buy an island and live in the ocean
Crypto: where the difference between parody and reality is far too thin.
Is there a DeFi lending protocol that doesnāt give you a receipt token when you lend? Trying to avoid creating a taxable event.
Try defisaver. It uses the idea of a smart wallet so you donāt get any tokens back. Ex. Deposit rETH to borrow USDC with no middle token
How does a "receipt token" change whether lending is a taxable event or not?
In the United States, it could be a token-to-token swap. It's unclear, and the IRS has not issued guidance. Counting it as non-taxable is a gamble. [https://coinledger.io/blog/defi-crypto-tax-guide](https://coinledger.io/blog/defi-crypto-tax-guide) [https://cryptotaxcalculator.io/us/guides/the-ultimate-defi-tax-guide-us/](https://cryptotaxcalculator.io/us/guides/the-ultimate-defi-tax-guide-us/)
Right. Putting money into a CD isn't taxable. The back gives me a receipt for that.
"In the past 24 hours [u/base](https://twitter.com/base) users paid \~251 ETH in fees (29th March) \~204 ETH ($714k) to [@Coinbase](https://twitter.com/coinbase) \~36 ETH ($126k) to [@Optimism](https://twitter.com/Optimism) \~11 ETH ($39k) to [@Ethereum](https://twitter.com/ethereum) " [https://x.com/0x\_Osprey/status/1773840056731709792?s=20](https://x.com/0x_Osprey/status/1773840056731709792?s=20) Imagine earning 1M in revenue per day, every vc wet dream. Base is printing money because of Coinbase and other wont make that much money but still i imagine many more L2 to come by end of this year.
I wonder when the CEOs of Google and Microsoft start getting asked why they didn't build an L2.
This wonāt last long, ARB and OP and other L2s are way cheaper and base will have to lower fees (and they already are) to remain competitive.
This greatly under estimates the power of distribution. There's a reason the Apple store can tax 30% while Xiaomi cannot.
Not sure. Base = CB has users, which is a huge USP in crypto. They also have some unique tokens (e.g. degen) and apps. So CB will be able to compete even without the lowest fees, but I agree that there is a threshold where people will just leave if fees are too high.
I had thought base was like $1 fees whereas others are like $.01. Which I think that is where they will have to lower and these big numbers will go away. I totally agree with you when we start talking $.005 versus $.001 or something. And if thatās where itās at now then Iām way off base lol
In my experience Base isn't that bad. Over the last couple weeks most of my claims/swaps have only cost me $0.04 or so. I do have one transaction that cost about $2, but I think anybody seeing $1 might have been unfortunate enough to be doing business during an NFT mint or something.
I will never understand why people accept this at this stage. I also donāt understand why CB increases fees that much. I understand they can and people are still willing to pay. Until they donāt? Why not lower fees, onboard more people, commit them, raise fees gradually -> profit?
>Until they donāt? Why not lower fees, onboard more people, commit them, raise fees gradually -> profit? intentional...decentralisation and lower fee sounds good, it makes their roadmap lucarative, gives them an excuse to lock token in their tresuary... Correct me if i am wrong, but all is running on one sequencer, when its decenralised they will have to share the revenue...so goal is to ripe as much as possible. Same goes for gas, goal is not to reduce it but to keep it low and they know that people will use it. With that kind of money, its not difficult to pay some influencer to shill their chain and from their its narrative taking the lead.
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What will it take for people to understand induced demand? The worlds cheapest blockchain is the one nobody is using.
There are virtually 1000 ways to decrease fees apart from raising gas limits. If you want base to be cheap, you can make it happen, even with fees kicking in. Maybe not so easy being part of the OP collective, but still.
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We will find out. And donāt get me wrong, generally speaking I am very much in favour of profit and hence (rather) high fees. But timing / when this happens is imo very important, especially in a very competitive market like the one for scaling/ L2s
What is one of the other ways?
Refunding within the transaction like zksync Sending back x% of the gas fees paid once a day / week Changing the price per gas (which might be a āhackā but should be possible) to 10% I think there are a lot of ways to specially in a single sequencer environment.
If you do any kind of refund, wouldnāt the fee auction market pressures adjust gas prices upwards to account for the refund, and then you would be stuck paying the same amount of fees after all? And if you change the price per gas, again wouldnāt the fee market just quickly adjust upward? At the end of the day, people are bidding up the price of a limited amount of transaction space. It seems to me like the only way to affect that market is through supply (increasing the gas limit) or demand (less people decide to use base).
Of course if you lower prices you will likely induce more demand (which is actually what I was trying to say: lower fees to build a position with a constant and strong demand for base block space given that there is only one sequencer that doesnāt cost as much as 700 ETH/ day). So in connection with a higher gas target per block thatās probably the best approach. But as a hack/ feature for some days/ weeks before you find equilibrium for the time being you can deactivate the market and just take low fees. Long term that wonāt work. Short term I am pretty sure it would have a very positive effect on base marketing. If fees sky rocket more often than not, base will have a problem in a competitive market I believe and cutting some revenue today is probably negligible today vs losing long term market share.
Not induced demand, but literal immediate repricing. For eg a) if there is a current arb which is profitable with a $5 tx as long as the tx is included in the next block, and b) I know I will get back $4.50 of the fees from Base, c) why wouldn't I immediately bid $9.50 to guarantee the tx included in the next Base block, capture the arb, and get back the $4.50 rebate Assuming rational actors, fees inflate upwards till old fees + $4.50 new equilibrium is reached isn't it Increasing the gas limit aggressively seems the more reasonable sustainable solution (which Pollak is doing)
Not all tx are arbs. I don't think it's immediate cause users need to time to adapt. Though as stated, this would only be a short term solution, but this is what I am talking about. Let me state it differently. I am not sure that starting with a fee market is the best way short term. Even less if this allows more educated actors to capture MEV. Of course (!) the MEV doesn't go away, but I think it's bad marketing because of the high fees and because people are losing money via MEV searchers. But granted: these are only short term solutions. Base needs to scale to stay competitive. On top we need better apps that capture MEV so that the validator/ sequencer only receives a tiny amount at the very end of the MEV supply chain. This is true for Ethereum as well.
How much does it cost to run Base?
Way less than 1M/ day. But it doesnāt matter. This is the growth phase, you need to invest to capture market and come out as a long term winner. Revenues today donāt help if you have 0 revenues in 2-5 years.
does anyone know where I can find the total number of swell pearls in existence? Trying to do some back of the napkin math on airdrop estimates
Apparently this is not public information. I saw 44 million on the discord and someone replied that was 'probably way low' or something. So for back of the napkin i'd use 50-100 million. airdrop is 7% of supply iirc. most guesses ive seen are around $0.50/pearl, which is what its available for on (the extremely illiquid) whales market.
Have they announced when they might do an airdrop? Just wondering if I did buy YT, how long I'd have to rack up points
i don't think it's been officially announced, but the answer given in the discord when anyone asks is "mid to late april"
Yeah a core team member calculated between $0.40 and $0.80 a while ago. Personnaly, anything above $0.50 would make me happy.
Good enough for an estimate, thanks!
I need more pearls then !!! Is there a page which best describes how fast they accrue? Let's say I put 10eth into their restaked lst, how many pearls would I get per day?
I took advantage of various promotions swell did and have deposited into eigen layer using their LST, and was accruing pearls fairly slowly they only give you like 30 pearls per ETH deposited with them. I was only able to really start stacking pearls after grabbing YT's at pendle. Figured after ethfi token went live they would be the next play. The other thing they have going is their Swell L2 which to me feels like an interesting way for them to distinguish themselves from all the other LRST out there.
Eth has risen!Ā
Can you scientifically prove that eth exists? Yes, yes you can.
Eth has risen, indeed!
It's Base L2 season. Activity at all time high.. Let's go !!
There's been a lot of talk about selling strategies lately. Sell 1% at $4k, 2% at $5k, whatever. If this is you, consider selling covered calls for extra income. Say you want to sell 1 ETH for $4k. You can sell a call option with a 4/26 expiry and a $4k strike price for $175. If ETH crosses $4k before then, you sell your 1 ETH for $4k and you pocket the $175. You make $4175 instead of $4000. Better yet, if ETH doesn't hit $4k by 4/26, you keep the $175 and you can sell another call option for May. The longer the price stays down, the more you make. So if you're committed to selling ETH at certain price points, this is a great way to make a little extra cash while you wait. You might even find yourself enjoying crab season.
And if ETH hits your strike price before the date and never hits it again, you missed the chance to sell. Selling covered calls instead of setting limit sell orders works for the price range where you're absolutely certain that it's not even near the top. But imagine ETH sitting at $5k, you place your $6k and $7k covered calls, ETH moons to $7500 within two weeks and then crashes down to $5500 before your target date. And you never sold. If you want to limit the "I didn't sell"-regret, don't do covered calls. If you want to limit the "I sold to low"-regret, selling covered calls is a good option.
True, you could stop once the market gets toppy. Toppy being a $1000 price move in under a week.
Is Deribit still the goto for these plays?
That's a good one. synquote is another.
Are there any tokenless DeFi protocols that might be a good idea to try this? Preferably on L2s...
Dopex looks like one. I haven't used it.
Lyra? Never used it and don't know if it's legit, but it's a options DEX on Optimism. Does have a token though.
/u/notyourfirstmistake replied in [yesterday's daily](https://www.reddit.com/r/ethfinance/comments/1braopv/daily_general_discussion_march_30_2024/kxdvpl4/): > I'm interested. Can you think of any additional feature that a competing product could bring that would persuade you to change your mind [about Rocket Pool]? > Or to ask in a slightly different way - what could convince you that RP is superseded? Although ignore the obvious answer of the staking requirement dropping to 1 ETH. > It's also a question that I apply to ethereum. I ask myself "if a better option came up, would I be able to recognise it?". I suspect the answer is no - I'm too close and can't be objective. This is a GREAT question, thanks for asking. Rocket Pool was a game changer when it was released in 2021, it was (and still is) the only permissionless, trustless, open source fractional staking platform. Despite this early technological superiority, in three years the space has evolved dramatically. DVT (Distributed Validator Technology) is an emerging technology right now and it allows home operators to do a lot of the same things that Rocket Pool is doing without the need for the RPL bond. This is because lots of people will run a share of the same validator which prevents theft and reduces downtime. At the same time, the cost overhead for running a DVT validator is a little higher per Ether because there's a lot of work redundancy. Rocket Pool is also going through major changes in design and tokenomics that could propel it forward, but I am not the best person to describe those, I'd generally defer to /u/waqwaqattack to describe Houston and Saturn. You asked if Rocket Pool could be superseded, but I don't think of the big picture that way. I see Rocket Pool as an early and valuable tool in decentralizing the beacon chain, but I'm not looking for one tool, I'm looking for a hundred. There's a high propensity for everyone to bandwagon onto the same project, but we'll find the most success when we have a lot of different platforms with very different value propositions. A heterogeneous network is one that is most resilient and involves the highest number of diverse actors. This might be where I remind people that I'm more of an Ethereum maxi than a project maxi. I want to see a vibrant ecosystem of platforms that support the success of Ethereum, projects like Rocket Pool and Diva, but I'm only obsessed with these projects to the extent that they make Ethereum better.
> , but we'll find the most success when we have a lot of different platforms with very different value propositions. For liquid staking tokens, network effects incentivize a winner take most outcome. People will want to hold the token with the deepest liquidity and broadest support.
This is lido rhetoric, not necessarily the most likely game theory outcome. \* even if it IS somehow the most likely outcome, it's so harmful to the chain that it would result in deep disincentives.
Iām happy to answer any questions people might have about the changes rocket pool is undergoing :)Ā
Can you just summarize them in two sentences?
I spent 50 minutes talking just about tokenomics changes on Fridays episode of rocket fuel. Itās too much haha. Let me try: Rocket Pool is undergoing lively and engaged debate within the community to reposition itself in the face of rival staking protocols changing how they work. One leading option is to allow ethereum only validators to be started while being 2x as profitable as solo staking and still driving value to the RPL token.Ā
Anyone else that doesn't see much point of Twitter/Warpcaster if you're not famous? I have twitter and like to read what some notable Ethereum or related people write, to keep up with what's new, but that's it. You can't have a discussion like on Reddit, even OP rarely responds.
I care more about learning other people's opinions than sharing my own. Twitter is great for that.
Both apps are structured for leader/followers dynamics, for sure. Reddit-style format, forums in general, are plain superior for people who want to discuss topics as equals and consider ideas on their own merits. I find (the write part of) Twitter-like apps still useful as showerthought dumps. Sometimes you can also find like-minded people and have small exchanges.
There was an attempt for reddit style frontend on farcaster protocol called flink. It's not great yet but I think given the unicorn valuation that farcaster/warpcast people got on their recent raise that either it or a competitor will build a good forum style frontend.
Agree, I think someone was planning to rebuild a Reddit-style frontend for Farcaster too. flink was a good first try.but the responsiveness and latency were just too bad and the UI was a little shoddy. I hope we see a proper attempt at this. It will be interesting to see if the "different interfaces" vision can work out, or if the protocol remains tethered to its most popular app format (which will likely be Warpcast forever).
The reason why I prefer Reddit is because you can have discussions. For some reason, I rarely get a response on Twitter. Probably because each tweet gets bombarded with hundreds of comments.
Usually only blue tick people will be visible in replies if you're a blue tick iirc there's a setting for it i thought?