This Week in DeFi: The blocmates Alpha Report – News, Opportunities and more…
Welcome to the first instalment of This Week in DeFi. We are going to release a weekly round-up newsletter on our website which covers all the current events, opportunities and what to look out for in the coming days.
Here at blocmates, we are trying to help as many people discover and understand the weird and wonderful world of DeFi.
If there is anything you are unsure about you can always join our free community ran Telegram which is aimed at helping newcomers and those who have issues in crypto and DeFi.
Before we start non of this is sponsored and if it does become sponsored in the near future we will tell you. There are enough shitty things going on in the industry at the minute. This is no strings attached.
On top of that, we aim to be at the forefront DeFi, experimenting and trying new things as and when they come up. We do the troubleshooting so you don’t have to.
Anyway, enough of that it is time for the alpha report.
TITAN rises from the ashes…
We can’t begin this article without first talking about the huge elephant in the room that is Iron Finance and its $TITAN token.
Just when you thought you had seen it all… $TITAN following its demise after the “first bank run in DeFi” bottomed out at near zero. So, the project is dead right? Wrong! A group on Telegram named “Titan is our Doge” currently has 1700 members which have doubled in the last 24 hours.
This has led to $TITAN surging over 20x in 3 days…
If the narrative is $TITAN to $1 then I don’t want to ruin the party but following the “bank run”, over 43 trillion TITAN were minted…
Who knows, though it could maybe reach $0.001 and if I need to say this is not financial advice you are already lost, my friend.
PolyQuity – Over collateralised borrowing…
Polyquity has launched a few days ago, again on Polygon and has slowly begun to pick up some attention.
The over collateralised lending/borrowing platform is a fork of liquidity fi and encourages users to deposit $MATIC and borrow up to 90% PUSD from the protocol.
From here users can pair PUSD with USDC in an LP and receive a very tasty 195% APY using Adamant Finance.
Learn from our mistake and provide the liquidity through PolyQuity dApp directly and DO NOT USE Sushi Swap. For some reason, people are being hit with a 25% fee for doing so…
Add Liquidity link to avoid fees – https://app.polyquity.org/liquidity
As always, you are at risk when using DeFi protocols…
Early Adamant Finance $ADDY unlocks…
Speaking of Adamant Finance, the first rounds of early investors are beginning to be able to unlock their vested $ADDY. Users were incentivised with really great APYs to lock their $ADDY for 3 months to earn $ADDY, $MATIC and $USDC.
For me, the move here was to leave the vested $ADDY in the vault to earn the rewards and then once the 3 months is up take the rewards tokens to the market for new opportunities.
The $ADDY token has held quite well considering a large amount of token unlocks must have just begun to happen.
It feels like the DeFi space tried to work purely on rewards and now is trying a penalty fee to prevent huge selling pressure from any rewards users gain. It will be interesting to see if this plays out in the long term. It certainly feels more sustainable.
Retail doesn’t $MATTER
— blocmates. (@blocmates) July 1, 2021
Finally, ending on a bad note… AntiMatter and its $MATTER token for some reason have decided to unlock strategic investors tokens earlier than scheduled…
Now, I don’t understand any reasoning behind this other than the fact that early investors are getting impatient and there is still enough retail liquidity to be able to dump into. This is such bad form from this team and a lot of people in the CT world are pissed off.
Always be sure to check privately held wallets and pre-mined tokens before investing in a project. As close to a fair launch as possible is best.
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