Tuesday, November 1, 2022

Why Avalanche, geophf?

One of my followers, @ScammoonR, asked me:
you're all in on @avalancheavax huh? What makes it your favorite layer 1? Just curious

Aye, m8. Fair question.

It's a bit in-depth. So, I'll also ask you the same question. What #cryptocurrency sparks joy for you? ... and why?

Okay, why Avalanche?

Welp, because here is where I landed, after the $AVAX crash (and a bit before, but I didn't get hurt by the $AVAX crash: I got gutted by the Terra- and Harmony- crashes).

Okay, the FRIST question to answer is, ... "DOOOOO I invest heavily into Avalanche? Or is this a SMEAR campaign to SMEAR my sweet, innocent self with UNFOUNDED accusation of AVALANCHIAN-BIAS???"


answer: yeup, I'm heavy into those $AVAX chains.

Glad we got THAT all cleared up 🙄

So, next question: so, why Avalanche as opposed to, say ... Ethereum?

Excuse me while I puke my guts out. #EthereumPuke


Okay, so, I don't like paying $260 fees on a $100 transaction as much as the next guy, and I've written extensively about this, but, okay, so, why not Tron or Polygon, the two blockchains competing for the 'slowest transaction processors in the World"?

They both win, btw. 🙄

Why not Terra nor Harmony?

Because I don't like crying every. single. day.

I mean, every. single. day there's a new horror story on one of those blockchains now.

Sad, really.

I don't have time for 'sad.'

Why not Fantom Opera (cool name for a blockchain. Snaps), nor Algorand, nor The Graph, nor ... [name an alt blockchain here]?

"Hellooooooo? Echooooooo, echo-echo-echo!"

Their TVL, combined, is less than mine, for chrissiks! ... or it's gonna be, smh. 

That and Fantom's @GeistFinance and Polygon's @0vixProtocol have a vesting period for their yield tokens?

Lame.

You want to bring value to your yield tokens, BRING VALUE TO YOUR YIELD TOKENS BY MAKING THEM HAVE INTRINSIC WORTH! Locking FOR 3 MONTHS them just pisses me off now.

So, that leaves, um, ... Solana and Cosmos.

I could've gone either way: Solana or Avalanche, I'm glad I went Avalanche. Solana a bit too weird with their weird leveraged DEXen. And Cosmos had nothing until @TeamKujira came along (sorry, but it tru). Now Cosmos has something.

So, all my liquidity is in Avalanche (see above), but all my development work is around @TeamKujira.

Which means what, exactly?

Nothing. I'll continue to fund Avalanche because Avalanche just. frikk'n. works. for me, and I'll continue to explore Kujira.

So, you've seen what does and doesn't work for me.

Now, let's explore why Avalanche works for me.

Firstly, Avalanche works FOR ME. Each investor is different!

I'm a yield-farmer, FRIST and foremost, and Avalanche, with it's near-0 fees, and @AaveAave and @BenqiFinance both providing leveraged yields, manifested in token form as well as in APR (unlike the sucky MATIC-MaticX strat on Polygon), is just durn near perfect for me. 



Why? It's durn-near perfect because:

  1. I collect yields on supply, x1 work.
  2. I borrow, collecting yields on borrow, x2 work.
  3. I INVEST in, say @TeamKujira-experiment, and pay back my self-loan with the gains, x3 work.

My investment money is working 3x for me using this approach.

You may say, "Well, you can do that on @Bybit_Official."

Fair, and thanks for pointing out that CEX, but I'm a Defi-boi. I want my money to be in MY wallet and earning income for ME. I want somebody else to be free to set up a DAO so I can try it out, if I want.

You may say: "C'mon, geophf! You and I both know that @mirror_protocol and @anchor_protocol were VERY centralized."

Fair, but look what happened there. 

Benqi and Aave know their place. They are NOT going to overextend their algorithmic stable coin. They don't even have one!

It boils down to this: with Avalanche, I put my money into the money markets, putting it to work, yielding me those frezsh yieldszorxen, then borrow (ooh! more yields!) to invest into experiments elsewhere.

Avalanche works for me. It has a very simple approach I understand.

2 comments:

  1. Absolute fountain of knowledge G, thanks for the never ending insights

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    Replies
    1. Hey, thanks, m8. I'm glad you find these articles useful.

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