Crypto Megathread V14 - I’ve got 81000 problems but a BTC ain’t one

[TheMaster]

Dude, cake is my biggest bag and nearly all of it is in the pool so I'm not biased...

The current APY is 107% and it's been slowly falling, you can use the calculator to see 1.41% over 7 days which is $2820 on $200,000.

That's a 90% difference.

I don't know in what world 90% higher is "slightly higher but not by much".

The auto cake pool has a 0.3% penalty if you withdraw within 72 hours after any new deposit, it also has a 2% performance fee which is why they say large amounts are better off in the manual pool at 75% APR manually compounding at regular intervals.

And we're talking percentages here so it doesn't matter if it's a large or small amount.

If I had 200k, choosing whether to put it in safemoon or cake would have very little to do with the rewards and a lot more to do with how I felt they will perform in the future...

At 110% APY where it is right now it works out at $4200 in 7 days for 200k in CAKE pool.
He is claiming about 6k per week, minus 600 for 10% tax so $5400.

That would be about 20% more at the current rate in safemoon if his numbers were accurate.
Don't know where you are getting '90%' its not close to that.

Like I said this is only for huge amounts. For the average person the safemoon redistribution doesn't work out nearly as well.

 

[Rob Battisti]

I mean I doubt I'll be catching the knife on any so to speak but I have a rough estimate on what I'm looking to buy and at what price.

Cardano - $.40-.50
Solana - $18-20
HBAR - $.12-.14
EGLD - $40-50
Dot - $8-12
Sushi - $6-7
AGIX - $.16-.17

As for API3, it's current MC is $35 million, I don't see how it could go much under $2 but if it does I'll be all over it.

ADA at those numbers would be a massive drop. If that happened, the other numbers you listed would likely be way way lower as the entire market would have taken a big ol shit

 

[Woldog]

You’re likely right. My buying spree is over. I need to recoup and will hold until the big drop.

You think we're going to fall of a bigger cliff in the near future?

 

[axion]

At 110% APY where it is right now it works out at $4200 in 7 days for 200k in CAKE pool. He is claiming about 6k per week, minus 600 for 10% tax so $5400.

How so?

That would be about 20% more at the current rate in safemoon if his numbers were accurate.
Don't know where you are getting '90%' its not close to that.

$200k * 1.41% = $2820
$5400/$2820 = 1.91 = 90%
$2820/$5400 = .52 = 52%

Oh, you just took the 1 year APY and divided by 52 for a weekly %? Nah, don't do that. You need to keep it in there for a year to get the 107.82%.

Like I said this is only for huge amounts. For the average person the safemoon redistribution doesn't work out nearly as well.

The amount doesn't matter, these are percentages. Divide everything by ten or a hundred it works out the same.

Although to be honest, I think since volume of safemoon has dropped his number might be off... I'm taking the $6k at face value but if you work it out I think at current volumes it's probably about half that.

Just for a little extra info for those thinking about going for a dip, the manual pool is about 75% so it doesn't look nearly as attractive, but if you manually compound daily you actually get a better APY...

 

[Rygu]

ADA at those numbers would be a massive drop. If that happened, the other numbers you listed would likely be way way lower as the entire market would have taken a big ol shit

I feel ADA's market cap is more heavily inflated over the others just due to more hype and the huge following of dedicated holders.

I compare HBAR and ADA and can't really figure out what about ADA allows it to have a 30x bigger market cap with similar coin totals. I'm sure there are other variables perhaps that I'm not aware of as I'm still learning the tech and the factors that determine price.

Sushi/Cake/Uni I don't see dropping as much % wise as they are all big name de-fi which many people use all 3.

I'm not sure if the huge % of ADA owners having their holdings in staking will have an impact on it's price in a potential plunge or not. If it helps it not go down too much then I assume Cake would be as safe if not safer as I do notice both tend not to drop as much % wise when there is a dump, Cake barely moves I think the amount of staking could be why but am not 100% sure of that by any means.

 

[wildchild88]

I feel ADA's market cap is more heavily inflated over the others just due to more hype and the huge following of dedicated holders.

I compare HBAR and ADA and can't really figure out what about ADA allows it to have a 30x bigger market cap with similar coin totals. I'm sure there are other variables perhaps that I'm not aware of as I'm still learning the tech and the factors that determine price.

Sushi/Cake/Uni I don't see dropping as much % wise as they are all big name de-fi which many people use all 3.

I'm not sure if the huge % of ADA owners having their holdings in staking will have an impact on it's price in a potential plunge or not. If it helps it not go down too much then I assume Cake would be as safe if not safer as I do notice both tend not to drop as much % wise when there is a dump, Cake barely moves I think the amount of staking could be why but am not 100% sure of that by any means.

ADA probably has the most consolidated positions of all of the alt coins.

They will have smart contracts relatively soon. Lots of projects are waiting to migrate from Etherium to Cardano as soon as its ready.

Their following is so large, and loyal, they believe in the project.

They have been getting heaps of promotion lately, with Hoskinson having a really good showing on the Lex Friedman podcast, and all the youtube 'gurus' have been been pumping up cardano for weeks..

Probably will have the shallowest dip out of all the alt coins besides polygon.

ETH 2.0 won't make polygon redundant by the way, basically every tech person I've heard or have read have said that ETH is nearly impossible to scale properly..

 

[Fuzzybabyducks]

Eth and ada are the two coins that I feel safest putting money and that I believe have no where to go but up

other coins I feel like I’m gambling a lot more .

 

[SwamiLeoni]

Rather than just saying it will be big, can you give your reasons why you think so and think it's a standout

Absolutely. Before getting into it, we have to know some definitions.

1. What does it mean for a market to have deep liquidity?
A market with deep liquidity is characterized by the presence of willing buyers and sellers in an ongoing competitive environment. This market will have a high probability of facilitating the next trade at a price close to or the same as the last price. Below is an example of WOO X liquidity.



2. What is a dark pool?
Dark Pools are trading pools used by big players to keep trades anonymous. They're extremely liquid and makeup 30% of all volume.

They have 2 key advantages:
1. No one knows how much is sold
2. No one knows purchase prices

The problem in crypto is that throughout all of the countless exchanges, many of them have minimal volume and trading activity. But, what if you were able to combine all of these exchanges into a massive dark pool that could rival Binance and Coinbase? This is what WOO X is going to accomplish. Companies like JPMorgan, Morgan Stanley, Fidelity, and UBS all own Dark Pools. As big players enter crypto, they will search for the most liquid. WOO X is positioned to be a leading choice.

WOO X has been in development for years and is growing faster than ever. The best part? Wootrade already has a working product trading up to $100,000,000+ daily and the platform hasn't even launched yet. After launch, this number is likely to increase dramatically.



3. Cool, right? So who is backing WOO X?
WOO X is incubated by Kronos Research. They're a leading quantitative fund that trades over $45 billion PER month currently. They're ranked #4 for volume on FTX. They often move between 1-3.



Additionally, WOO is backed by some of the world's best investors including 3 Arrows Capital, Fenbushi Capital, Genesis Block, Dragonfly Capital, and many more. When it comes to talent pool, there is an abundance of intellectual capital behind the project.

4. Any DeFi products? Glad you asked.
Wootrade brings their liquidity on-chain, using a combination of liquidity pools, oracles, hedging strategies, and market-makers. Users can access the pools from a third-party front-end, such as DODO’s aggregator on Binance Smart Chain. DODO was selected as an early partner because their PMM (Proactive Market Maker) algorithm allowed Wootrade to take an active role in pricing via an oracle. This system, which internally was nicknamed ‘WooFi’ proved to be quite resilient in testing.

DeFi has created a new wave of aggregators like UNI, SUSHI, CRV, and BAL. But this creates new issues. If you use SUSHI, you can't access UNI liquidity. If you use CRV, you can't access BAL liquidity. Fragmentation has made trading difficult in many ways—until now.

Over time, WOO will integrate more decentralized protocols to enhance liquidity. WOO already partnered with DODO and utilizes LINK oracles ensuring the best prices. This reduces fees, making DEX trading accessible for millions of people.




5. What about trading Fees? There aren't any Fees.
WOO X will be the only platform to offer zero trading fees & robust liquidity for both spot and future.




6. What about the WOO token and its tokenomics?
The WOO token has multiple utilities: - Staking - Discounts - Liquidity Mining - Governance There are also **possible** plans to introduce a Binance Smart Chain integration BSC, lending, and an NFT Marketplace. The scope of Wootrade is huge.

Another key part of WOO tokenomics: 50% of the WOO treasury will be dedicated to growing the community, onboarding institutional clients, and fostering innovation. All investors have lockups, and overall receive a minority of WOO tokens. In the five months which buybacks have occurred 7.7m WOO tokens have been burned. The WOO token distribution is shown below:


A couple more things about the WOO token:

Transaction & Liquidity mining: Enterprise clients holding a certain # of tokens are eligible to earn WOO tokens for every dollar of flow traded. Retail can also participate in multiple types of staking rewards such as transaction and liquidity mining.

Platform uses: Collateral/fee reduction for API users (all other users are NO-FEE). Run your own dark pool / exchange by staking tokens.

Governance: Token holders accrue voting points and govern increasingly core aspects of the ecosystem.

In their words: "The platform is gradually evolving from its original form as a liquidity pool to a full-fledged financial service provider powered by the WOO token. " With deep liquidity, buybacks, and an ambitious range of use cases, the future of Wootrade looks very bright.

When looking at the exchange tokens with large market caps (BNB, FTT, HT) they all have high volume. So, it goes to say that if WOO X is successful, with the baking of Kronos and Zero Fee trading, the Volume will increase heavily on the exchange. That in-turn will push the price of the token up.

 

[TheMaster]

How so?

View attachment 862407



$200k * 1.41% = $2820
$5400/$2820 = 1.91 = 90%
$2820/$5400 = .52 = 52%

Oh, you just took the 1 year APY and divided by 52 for a weekly %? Nah, don't do that. You need to keep it in there for a year to get the 107.82%.



The amount doesn't matter, these are percentages. Divide everything by ten or a hundred it works out the same.

Although to be honest, I think since volume of safemoon has dropped his number might be off... I'm taking the $6k at face value but if you work it out I think at current volumes it's probably about half that.

Just for a little extra info for those thinking about going for a dip, the manual pool is about 75% so it doesn't look nearly as attractive, but if you manually compound daily you actually get a better APY...

View attachment 862413

I was holding some safemoon at one point about $1.5 k worth and the reflections didnt give me nearly as much as having the same amounts in CAKE.
It was working out only a few dollars over about a week even excluding withdrawal tax whereas I was getting a CAKE every 2-3 days roughly for the same amount, although that was at 135% APY

 

[TheMaster]

Absolutely. Before getting into it, we have to know some definitions.

1. What does it mean for a market to have deep liquidity?
A market with deep liquidity is characterized by the presence of willing buyers and sellers in an ongoing competitive environment. This market will have a high probability of facilitating the next trade at a price close to or the same as the last price. Below is an example of WOO X liquidity.

View attachment 862410

2. What is a dark pool?
Dark Pools are trading pools used by big players to keep trades anonymous. They're extremely liquid and makeup 30% of all volume.

They have 2 key advantages:
1. No one knows how much is sold
2. No one knows purchase prices

The problem in crypto is that throughout all of the countless exchanges, many of them have minimal volume and trading activity. But, what if you were able to combine all of these exchanges into a massive dark pool that could rival Binance and Coinbase? This is what WOO X is going to accomplish. Companies like JPMorgan, Morgan Stanley, Fidelity, and UBS all own Dark Pools. As big players enter crypto, they will search for the most liquid. WOO X is positioned to be a leading choice.

WOO X has been in development for years and is growing faster than ever. The best part? Wootrade already has a working product trading up to $100,000,000+ daily and the platform hasn't even launched yet. After launch, this number is likely to increase dramatically.

View attachment 862411

3. Cool, right? So who is backing WOO X?
WOO X is incubated by Kronos Research. They're a leading quantitative fund that trades over $45 billion PER month currently. They're ranked #4 for volume on FTX. They often move between 1-3.

View attachment 862412

Additionally, WOO is backed by some of the world's best investors including 3 Arrows Capital, Fenbushi Capital, Genesis Block, Dragonfly Capital, and many more. When it comes to talent pool, there is an abundance of intellectual capital behind the project.

4. Any DeFi products? Glad you asked.
Wootrade brings their liquidity on-chain, using a combination of liquidity pools, oracles, hedging strategies, and market-makers. Users can access the pools from a third-party front-end, such as DODO’s aggregator on Binance Smart Chain. DODO was selected as an early partner because their PMM (Proactive Market Maker) algorithm allowed Wootrade to take an active role in pricing via an oracle. This system, which internally was nicknamed ‘WooFi’ proved to be quite resilient in testing.

DeFi has created a new wave of aggregators like UNI, SUSHI, CRV, and BAL. But this creates new issues. If you use SUSHI, you can't access UNI liquidity. If you use CRV, you can't access BAL liquidity. Fragmentation has made trading difficult in many ways—until now.

Over time, WOO will integrate more decentralized protocols to enhance liquidity. WOO already partnered with DODO and utilizes LINK oracles ensuring the best prices. This reduces fees, making DEX trading accessible for millions of people.

View attachment 862414


5. What about trading Fees? There aren't any Fees.
WOO X will be the only platform to offer zero trading fees & robust liquidity for both spot and future.

View attachment 862416


6. What about the WOO token and its tokenomics?
The WOO token has multiple utilities: - Staking - Discounts - Liquidity Mining - Governance There are also **possible** plans to introduce a Binance Smart Chain integration BSC, lending, and an NFT Marketplace. The scope of Wootrade is huge.

Another key part of WOO tokenomics: 50% of the WOO treasury will be dedicated to growing the community, onboarding institutional clients, and fostering innovation. All investors have lockups, and overall receive a minority of WOO tokens. In the five months which buybacks have occurred 7.7m WOO tokens have been burned. The WOO token distribution is shown below:
View attachment 862418

A couple more things about the WOO token:

Transaction & Liquidity mining: Enterprise clients holding a certain # of tokens are eligible to earn WOO tokens for every dollar of flow traded. Retail can also participate in multiple types of staking rewards such as transaction and liquidity mining.

Platform uses: Collateral/fee reduction for API users (all other users are NO-FEE). Run your own dark pool / exchange by staking tokens.

Governance: Token holders accrue voting points and govern increasingly core aspects of the ecosystem.

In their words: "The platform is gradually evolving from its original form as a liquidity pool to a full-fledged financial service provider powered by the WOO token. " With deep liquidity, buybacks, and an ambitious range of use cases, the future of Wootrade looks very bright.

When looking at the exchange tokens with large market caps (BNB, FTT, HT) they all have high volume. So, it goes to say that if WOO X is successful, with the baking of Kronos and Zero Fee trading, the Volume will increase heavily on the exchange. That in-turn will push the price of the token up.

Nice breakdown thanks, will definitely have to take a closer look into it.

 

[SwamiLeoni]

Nice breakdown thanks, will definitely have to take a closer look into it.
View attachment 862425

I will have beta codes on the 25th. I have 13 total and don't mind handing them out to the sherbros before other people get them. I'm in a group chat with some pretty heavy hitters and the problems they're saying WOO solves makes me very comfortable with the hold. I offedloaded some of my Vechain for WOO and right now it looks as though I made a good decision.

I don't want to overleverage but I'm looking for a safe way to stake my $57k USDT I've got. I could get the 8-12% for staking from certain platforms or I could use a stable/stable farm. I'm just not sure where the safest yet best-performing place to put that money is.

 

[TheMaster]

I will have beta codes on the 25th. I have 13 total and don't mind handing them out to the sherbros before other people get them. I'm in a group chat with some pretty heavy hitters and the problems they're saying WOO solves makes me very comfortable with the hold. I offedloaded some of my Vechain for WOO and right now it looks as though I made a good decision.

I don't want to overleverage but I'm looking for a safe way to stake my $57k USDT I've got. I could get the 8-12% for staking from certain platforms or I could use a stable/stable farm. I'm just not sure where the safest yet best-performing place to put that money is.

Beta codes?
You mean this


So what financial incentives are there for actually holding WOO tokens aside from it being a great platform?
Are there good staking rewards?
Do you expect WOO to do a 10-20x from here?

Personally I am already with some very strong hodls with incredible future prospects so it would take a lot for me to want to diversify my main stack of alts any more.

 

[SwamiLeoni]

Beta codes?
You mean this


So what financial incentives are there to actually holding WOO tokens themselves aside from it being a great platform?


Do you expect it to do a 10-20x from here?
Are there good staking rewards?

Yea, they're referral codes. The short answer to your question is, I think it'll break into the Top 50 and it'll launch once the full platform opens. I believe a $5 by year-end makes sense, but the way the platform is set up and the new features they're adding, I wouldn't be surprised to see it go higher. It should rival FTX at least. It's a better exchange with zero trading fees.

There are staking rewards. For the beta, I'm currently getting 24% on my stack. The highest tier went up to 30%. However, they're changing it from a fixed to a variable. You will still receive rewards for staking but there will also be more LP opportunities. Bancor is always a popular pool and once the official launch happens, I'll have to weigh my options. They haven't announced how they're going to implement the new rewards systems on the platform yet.

Updated staking on WOO X

The staking program will no longer have a fixed rate APY in WOO, as that contributes to token supply inflation and encourages passive staking. Instead, there will be a variable rate, with only a small base rate allocated for passive staking. Multipliers will be added on for:

• the duration of staking
• frequency of trading
• other challenges

The 240,000 WOO cap will be removed, and users can stake as much as they choose. However, similar to APY in DeFi applications, the more WOO that gets staked, the lower the APY will be per WOO. WOO X will reserve the right to adjust the rate of rewards and multipliers to align with feedback from the community and encourage platform growth. Exact tier amounts will be released at a later date.

The goal is to make staking an active process that encourages engagement with the platform, while only adding a minor contribution to the inflation of the circulating token supply. Users seeking to passively earn higher APYs can take advantage of the much more attractive yields in DeFi. The result will be a healthy, sustainable, and engaging token economic model, with the aim to have a deflationary structure where monthly token burns exceed the reward inflation rate.

The other thing I forgot to mention was WOO Ventures. Wootrade will look to bring in new groups and WOO holders will receive airdrops depending on the amount that you're holding. There were two really successful community chats I'll link below. A lot of great Q&A there and they're well worth the listen.

 

[axion]

I was holding some safemoon at one point about $1.5 k worth and the reflections didnt give me nearly as much as having the same amounts in CAKE.
It was working out only a few dollars over about a week even excluding withdrawal tax whereas I was getting a CAKE every 2-3 days roughly for the same amount, although that was at 135% APY

Yeah it depends on that $6k figure, taking it at face value it would appear the safemoon returns are much higher but I don't think it's correct.

I have some safemoon and don't see much in returns and looking at the volume numbers I think the actual returns are less than half that $6k.

Volume fluctuates a lot so you can't look at just 1 week of returns and extrapolate that to APR.

 

[kimocomplex]

Prices so low, I have been able to double some of my holdings

If things keep up, I wouldn't mind tripling

 

[Motivated BJ Penn]

API3 on sale, just got some at 2.45

 

[SSgt Dickweed]

Prices so low, I have been able to double some of my holdings

If things keep up, I wouldn't mind tripling

If ETH goes below 2000 USD.

 

[TheMaster]

API3 on sale, just got some at 2.45

Is my biggest bag now since I kept buying at these ridiculous prices.
When things recover eventually there is going to be a buying frenzy around this project, but people always buy the greed not the fear.

Anyway, there's been a lack of cultishness around here since the linkcels disappeared, so API3 can take the place now, aka 'the Oracle'.

 

[Anewt]

Sheesh it's hard to not keep buying right now

 

[TheNinja]

Sheesh it's hard to not keep buying right now

100% agree. I'm probably not choosing the "best" bargains, but I just got some more ETH, BTC, and VET.

Probably get some ADA and API3 next during these sale prices!