BitHappy

Bad news: The stablecoin mining with 27% and 34% APR has been reduced to around 10%!

Good news: I have found a new mining opportunity over 20%+, just explored, and the risks have yet to be studied.

The 27% mining mentioned a couple of days ago refers to MMTFinance on Sui and Hyperion on Apt.

Currently, both are DEXs and have not issued tokens yet.

MMTFinance is rumored to have a TGE in three to four months;

There has been no news from Hyperion yet, but I guess the TGE won't be too far off. Firstly, Aptos announced a $200 million ecosystem support yesterday, and secondly, the news about Hyperion's funding came two days earlier, quite a coincidence, right?

It is estimated that after APT's support plan, DeFi will become popular again, at least it will stimulate the three DeFi public chains: SuiNetwork, Berachain, and SonicLabs to increase their support efforts, right?

The spring for us miners might be coming, but the biggest worry is still not having enough money.

Still the same saying, we can't just mine; if there are airdrops available, we should take them, and we should claim what needs to be claimed!

A picture is worth a thousand words!

The illustration vividly explains how Pendle operates, how to make money using Pendle, and what the logic is behind it.

It is clear that it involves speculating on interest rate fluctuations, and it aligns very well with trading logic!

In the future, both CEX and DEX will undoubtedly have a new segment focused on interest rates. With Pendle's current position as the absolute leader in the Web3 interest rate derivatives space, Pendle will certainly have a place in the future!

Moreover, the interest rate derivatives space in traditional finance is already very mature.

When I last thought that interest rate trading would lead to new exchange products, I was unaware that Pendle had already planned to launch a product similar to a DEX: Boros.

Once developed, leveraging Pendle's existing advantages will surely make it a top-tier product.

However, what I look forward to more is that in the future, the PT/YT tokens split from Pendle can go live directly on CEX, bridging on-chain and off-chain, creating a new TradFi combining DeFi + CeFi + DEX + CEX.

Unlike the hedging mining or stablecoin mining strategies adopted during this period, I have shifted many DeFi positions to $PENDLE; I bet it can succeed!
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The core goal of Pendle is to achieve principal and interest separation, packaging income-generating assets into SY tokens, thereby standardizing these income-bearing tokens.

Then, SY tokens can be split into two parts: principal tokens (PT) and yield tokens (YT). Through Pendle's Automated Market Maker (AMM) mechanism, users can easily trade these tokens and engage in interest rate speculation.

Principal tokens (PT) act as a stable investment tool, helping users withstand market fluctuations and lock in fixed returns.

The price of PT tokens is usually lower than that of the original asset, and this price difference represents the fixed income that users can obtain. Users purchasing PT tokens are typically those who are cautious about future returns and wish to lock in the current yield rate.

Yield tokens (YT) are a leveraged tool full of opportunities and risks.

Users do not need to invest large sums of money to purchase complete income-generating assets; by simply holding YT, they can enjoy the rights to the income generated by the principal.

A stablecoin mining pool with 34% APR, everyone, please hold off!

I am currently testing it, and will notify everyone once the process is running smoothly and testing is complete.

This protocol has investments from OKX Ventures and Aptos, and it has only been a few days since the investment, so it is highly likely to be reliable.

The early champion of the Move language, SuiNetwork, has recently made a strong comeback, with the liquidity staking protocol HaedalProtocol officially announcing a 4.29 TGE and launching Alpha.

This has also led to another "champion" Aptos facing criticism, as the community proposals have been slashing staking rewards, prompting the laid-back big holders to take action. It remains to be seen how this will play out.

The announcement of participation in the mining protocol financing information is also happening in the past few days, and it seems they are planning something collectively.

According to DeFi OG, the subsidy war between Sui and APT may be about to start, which should bring some excitement for us miners.

Let me investigate further and report back!🫡
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Oh, by the way!

Yesterday I mentioned the MMTFinance mining pool with a 27% APR, and many friends said the APR is inflated.

There are two reasons: first, the default LP range is too wide, and needs to be manually adjusted; second, there is insufficient liquidity on weekends, and the trading volume is not enough, resulting in lower returns.

After running it, I found the APR to be around 24%.

Come on, stablecoin mining with 27% APR!

The Haedal Protocol, a liquid staking protocol on the Sui chain that has been involved all along, is expected to have its TGE on 4.29.

With work coming to an end, we must immediately start new work to avoid letting funds sit idle!

The logic remains to mine and airdrop simultaneously, with the protocol being a yet-to-be-launched token, currently ranked tenth in TVL on the Sui chain's DEX protocols, Momentum.

➤ Tutorial:

1) Go to the MMTFinance official website;

2) Click on liquidity at the top;

3) Check out the 27% APR for suiUSDT-USDC or the 20% APR for wUSDC-USDC;

4) Click on Single token deposit to directly stake USDC and exchange it for LP to mine;

suiUSDT is USDT that has been bridged from Sui's official bridge, not native USDT;

The Sui chain already supports native USDC, while wUSDC is non-native USDC bridged from Ethereum;

Regardless of the packaging form of stablecoins, it is a circumvention tactic; with enough backing, the risk is lower, and it is also fundamental to the chain.

The Momentum protocol has opened up points, and trading and forming LP for mining can accumulate.

Although the airdrop landscape has changed significantly recently, we gold miners have DeFi yields, not worried at all!

Although it is not as good as the Infrared Finance hedging with 40% APR on Berachain, it is still pretty good.

Binance launches Alpha Points scoring system!

Used to measure the user's activity in the Binance Alpha and Binance Wallet ecosystem, the rules for Alpha airdrops and participating in Wallet TGE are finally transparent!

Points not only reflect the user's participation, but will also directly determine whether the user is eligible to participate in important activities such as Wallet TGE and Alpha token airdrops.

Having specific rules means having specific strategies, which is not necessarily a good thing.

Moreover, the rules are closely related to the amount of funds, which will make it more difficult for retail investors to obtain benefits.
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Alpha Points are calculated at two levels:

1) Daily points: composed of the user's asset balance and the transaction volume of purchasing Alpha tokens.

2) Accumulation mechanism: Alpha Points are the sum of daily points in the past 15 days.

Daily points are specifically composed of the following two items:

1) Balance points: based on the total value of the user's assets in Binance Exchange and Binance Keyless Wallet.

2) Trading volume points: based on the amount of Alpha tokens purchased by users every day.

Balance points are divided into the following levels according to the total value of spot assets and Alpha tokens in the user's account:

1) ≥ $100 and <span point

2) ≥ $1,000 and <span points

3) ≥ $10,000 and <span points

4) ≥ $100,000: 4 points

Trading volume points are calculated based on the amount of Alpha tokens purchased by users every day, using a doubling rule:

1) First $2: 1 point

2) 1 point is added for each doubling thereafter: $4 = 2 points; $8 = 3 points; $16 = 4 points, and so on.

Note:

1) Selling Alpha tokens will not reduce the user's points.

2) Daily Points = Balance Points + Trading Volume Points.

3) Alpha Points = The sum of daily points in the past 15 days.

How to check points:

1) Enter the Binance App

2) Search for Alpha Points on the homepage

The trading volume of the Defi App has significantly increased in the past few days.

I suspect that with the TGE approaching, everyone has noticed the trend, 👀

According to the previously announced information, the DeFi App will conduct its TGE in the second quarter, which is before June. If the data continues to rise during this period, the TGE might start even before June.

Perhaps it's time to catch the last train!

Core Gameplay:

1) Use the DeFi App for deposits and trading to earn points;

2) Joining a top 50 camp grants a 40% point bonus, and inviting friends earns 10% of their points;

3) Posting content related to the DeFi App on X, participating in discussions, and interacting with the official account can all provide opportunities for airdrops. Moreover, the DeFi App has entered the @KaitoAI Pre-TGE arena, and there will also be airdrops for Yappers;

4) Join Discord and get verified;

Points should be the biggest weight for obtaining airdrops; of course, this article is also about Work To Earn;

According to its Chief CX Officer Yueya's post today, the Defi App has achieved stable profitability, with an annual income reaching 7 million USD.

Just this income alone is enough to stand out among many projects.

However, the shortcomings lie in that the planned features have only opened trading/cross-chain trading (no Gas preparation required), while the following features have not yet been launched:

1) Liquidity mining;

2) Margin trading;

3) Lending;

4) AI assistant: providing market insights to help users seize opportunities and complete trades easily;

Nonetheless, since there is already income, even if the product is not fully formed yet, starting the TGE and continuing development remains possible, and perhaps even more motivated?

Certain air drop expectations and 40% APR hedging strategy, sharing with everyone!

Previously, although there were expectations for the TGE of the protocol on Berachain, there was still uncertainty.

Last month, Smokey, the founder of Bear Chain, mentioned that multiple projects would have TGE in the coming weeks, but it needs to be advanced in conjunction with market and project conditions.

Today, the lending protocol $DOLO, ranked third in TVL on Berachain, took the lead in TGE; unfortunately, I participated too late and missed the opportunity.

But that's okay! Also today, the protocol ranked first in TVL, Infrared, announced its TGE plan!

According to official information, now is the time to participate, details are as follows:

1) TGE expected in the third quarter;

2) Launch of a points program, points will be exchanged for tokens during TGE (providing liquidity staking, holding $iBGT and $iBERA can earn points);

3) Points have been automatically retroactive and can be viewed in the points interface;

4) The points program lasts for three months, combined with the third quarter, TGE is expected around August.

Friends who have been following me for the past month know that I am a miner on Berachain, using a hedging strategy to earn interest differentials and also aim for air drops.

Infrared is the core protocol of my strategy, whether it is the hedged iBERA/WBERA mining pool or buying the dip after iBERA unpegs, both have allowed me to make a small profit.

According to Infrared's TGE and points program, the air drop is also just around the corner, haha!

Sharing my strategy:

1) Mortgage idle tokens, borrow BERA;

2) Exchange part of BERA for iBERA, forming an iBERA/WBERA LP for mining;

3) The mined iBGT continues to be staked for mining;

The core token of the strategy is iBERA, and iBERA is one of the key focuses of future air drops.

In addition to air drops, the lending APR is about 50%, LP mining APR reaches 90%, and the staked APR of mined iBGT is as high as 243%.

The overall APR is at least 40%, and if reinvested, the returns are even higher; specific calculations can be done on your own!

The strategy is public, future expectations are clear, do you DeFi players want to come to Infrared to enjoy the feast together?👀

Regulatory Changes, Security Challenges, and Strategic Expansion | Major Events in the Crypto Market Q1!

TokenInsight's report on 'Cryptocurrency Exchanges' provides a detailed overview of the trading volume in the crypto market during Q1, as well as changes in market share among various exchanges!

The report specifically points out that the Bybit platform experienced the largest hacking attack in history (with losses of approximately $1.5 billion), causing $ETH to drop significantly more than $BTC's 10%-15% decline, reaching 30%-35%.

Market sentiment turned cautious due to uncertainty in U.S. policies after Trump's rise to power and expectations of interest rate hikes from the European Central Bank.

The total market capitalization of cryptocurrencies fell to approximately $2.7 trillion, a decrease of 22.9% compared to Q4.

The total trading volume of the top ten exchanges decreased by 12.54% compared to Q4.

These factors combined seem to indicate that the market has entered a bear phase.

In terms of market share, Binance ranks first with 36.50%; OKX, Bybit, and MEXC rank second, third, and fourth respectively, each with a share of around 13%.

In the spot market, Binance's share reached as high as 43.9%, further increasing to 45% by the end of the quarter; the report did not provide specific data for other exchanges, but the chart shows Bybit in second place.

In the derivatives market, Binance remains in the top position with a share of 30.3%; OKX ranks second with an average share of 13.0%, and data for other exchanges is not detailed.

It is not surprising that Binance remains in the lead.

However, Bitget's market share was lower than expected; I initially thought it would rank third, but in reality, the third and fourth places are occupied by Bybit and MEXC.

Nonetheless, given the severe hacking attack on Bybit, the subsequent impact could be significant, and MEXC may surpass its ranking?

Additionally, Bitget's recent handling of incidents has been disappointing; regardless of whether the incidents should have occurred, its response was far inferior to Bybit's performance when $1.5 billion was stolen.

This also confirms that when choosing an exchange, security and crisis management capabilities are crucial, which is Binance's competitive advantage!

Recently, numerous institutions and companies have released Q1 reports. For instance, Mr. Wu conducted a thorough analysis of the report on Coingecko the day before yesterday.

He also mentioned in the text: 'The ultimate competitive advantage of an exchange is not traffic, nor the pace of listings, but security.'

I hope everyone's funds can be protected and that they receive proper compensation in the event of risks!

Four months ago, Binance Wallet declared the slogan "Become the largest airdrop platform."

Now, this goal seems to be gradually realized, but the way it is achieved is surprising.

Not through task platforms like Galxe, but through the airdrop share brought by the effect of listing coins and liquidity advantages.

This inevitably raises questions about the balance of interests between project parties, community users, and cat-raising studios.

If cracking down on cat-raising studios is a good thing, then Binance indeed has the ability to do this.

From a technical perspective, Binance's ability to counter studios far exceeds that of most project parties.

More critically, Binance can continuously enhance its defensive capabilities through repeated offense and defense drills.

Assuming that facial verification becomes standard in the future, combined with the current requirements for fund retention and interaction Alpha, the survival space for cat-raising studios will be greatly compressed; perhaps only the "village chief" will be able to establish a studio.

However, for ordinary cat-raisers and community users, this may not be good news.

After all, those who truly understand the project and have feelings for it are often these groups.

Of course, if they are also Binance users and can easily obtain additional airdrops, they might feel a bit comforted.

This also leads to project parties facing a dilemma in balancing Binance airdrops and community user airdrops.

From Binance's perspective, the benefits are obvious: it can support Alpha, create another coin listing module; promote Binance Wallet and control the on-chain entry; and support BNB Chain, locking in on-chain liquidity.

From the perspective of ordinary users, easily obtaining "big毛" is naturally pleasing, and in the future, they may no longer have to envy the earnings of cat-raising studios.

But as a community user, I also worry that the projects I participate in building may not bring me the expected returns.

On a larger scale, I also hope that projects yet to have a TGE can "clear out" on Binance Wallet as soon as possible based on their own ecological positioning.

This is not only a debt owed by the Web3 ecosystem, but also a reality that project parties must face in the current environment.

Congratulations to everyone at Interact Alpha!

You have received 200U in wallet TGE $HYPER, even though Hyperlane mocks cat users, it doesn't stop Binance from being generous!

I want to take this 200U and continue the Alpha interaction, changing from once a week to three times a week!

Next, everyone knows what to do, right?👀

The Next Step for Decentralized Exchanges: Spot/Contract Trading of Interest Rates!

This concept is inspired by Pendle. When I first encountered Pendle, I felt it was not quite suitable for traditional DeFi players, but more for traders.

In simple terms, Pendle divides tokens into Yield Tokens (YT) and Principal Tokens (PT), with Yield Tokens (YT) being tradable.

This means that the price of YT is influenced not only by the yield of the underlying asset but also by market factors.

What is being speculated on Pendle is the rise and fall of future interest rates of tokens, whereas current trading primarily speculates on the rise and fall of the underlying asset. Separating Yield Tokens makes them perfectly applicable to the current spot/contract logic of exchanges.

Previously, the conditions were not very mature, but recently, PT and YT have been appearing more frequently in Twitter and Web3 articles. Many DeFi protocols are innovating based on Pendle, and various arbitrage strategies are already utilizing PT/YT.

For example, ListaDao's clisBNB previously launched Pendle, and the latest lending can use PT-clisBNB. There are also arbitrage strategies targeting Berachain's BERA/BGT that can combine shorting on exchanges and holding PT/YT for mining arbitrage.

The adoption and support of these protocols for Pendle may very well allow Pendle to gradually become the next core protocol of DeFi, and it has recently doubled to $PENDLE , although it is still a bit away from its peak.

But just like the initial concept, the next step for decentralized exchanges is to facilitate spot/contract trading of interest rates.

Pendle's YT represents the yield portion beyond the underlying asset, and theoretically, all tokens that can generate interest can be split into YT tokens, thereby creating a trading platform based entirely on YT.

Moreover, YT originates from DeFi, making it inherently more suited for on-chain applications and more appropriate for DEX.

As on-chain exchanges gradually mature and Pendle's adoption expands, is a hopeful future on the horizon?

You can't get coins from buying nodes on Balance, and you still say it has been opened!!?

And your $EPT has a market cap of 200M, with only 1.4M liquidity!!?

In terms of token economics, coins are mined by nodes, so with so many coins coming from nodes, emptying the pool only gets you this little money!!?

The $iBERA I bought yesterday hasn't returned to peg today.

Today is Monday, liquidity should have returned, but it hasn't developed as I expected.

That day, the drop in iBERA was because there were no $BGT reward emissions for iBERA/WBERA, causing the pool's APR to plummet to around 10%.

As a result, Farmers chose to exit their LPs and sell off iBERA, leading to the depegging.

Now the pool's APR has returned to 60%, so the rewards must have started again, but it still hasn't returned to peg. It seems that Farmers' money isn't here anymore; haven't they noticed?

Come back soon, I miss you all on Berachain!

Come to Infrared to swap some iBERA and participate in DeFi mining!

By the way, I can also make some money, 🤣

In recent days, I've seen quite a few friends paying attention to the PicWe DeFi project.

I had noticed it during the Movement China tour, but as the market has declined, especially with the drop in Movement's popularity, my enthusiasm has cooled quite a bit.

PicWe seems to have sensed the market sentiment as well, planning to launch cross-chain trading from Movement to EVM at the end of the month.

While reviewing the white paper and documents yesterday, I found that the connection between PicWe and Movement isn't as strong anymore.

That's fine; after all, its slogan is "Reshaping Liquidity Across the Chain." The outside world is vast and boundless, and there's nothing wrong with setting sail.

Although things are quite competitive out there, the DeFi with chain abstraction is still decent and worth looking into.

In the white paper and documents, PicWe's planning is quite comprehensive, which includes:

1️⃣ A full-chain trading model based on chain abstraction

2️⃣ Integrating multi-chain liquidity into a full-chain DLM (Dynamic Liquidity Matrix)

3️⃣ A stablecoin $WEUSD for cross-chain asset settlement

4️⃣ Launchpad, future project token $PIC will also use it for TGE

5️⃣ Staking, farming, and permissionless liquidity pools

Among the plans mentioned above, aside from the functionality in common DEXs, the biggest highlights should be the full-chain trading and full-chain liquidity, as well as the stablecoin.

I estimate that the largest weight for future airdrops will also be on full-chain and stablecoins, meaning that using PicWe for trading and minting stablecoins will yield a higher number of airdrop opportunities.

When EVM trading opens at the end of the month, I will transfer a portion of my on-chain trading to PicWe to try my luck for rewards.

By the way, I’d like to mention a suggestion: the Launchpad and Airdrop pages can only be opened in the documents, and there's no entry on the official website.

After all, the homepage of the official website has already described PicWe's planning. If it is still in a grayscale test, at least clicking should directly redirect to the corresponding document page.

The actual situation is even worse, especially in the step of connecting wallets:

1) Fiat currency can be directly used as Gas and in-game currency for all on-chain operations within the game.

2) Users do not need to download an exchange to deposit funds and purchase Gas tokens.

3) Users do not need to download a third-party wallet app.

GameFi has a built-in wallet that is generated directly through the account and linked to the game account. By connecting to third-party payment methods, the deposited fiat currency is converted into U or game tokens for in-game purchases using exchange rate algorithms, and some fiat currency will be converted into Gas tokens.

However, even with these measures, the game still fails to succeed.

What initially seemed like a high barrier preventing user participation or leading to low conversion rates in user acquisition is actually due to the genuine lack of interest from real players in blockchain games.

To put it bluntly, games are fundamentally meant for entertainment; they need to be fun and immersive, which is fundamentally inconsistent with the nature and purpose of blockchain games.

Of course, one cannot be absolute; if a genuinely fun blockchain game were to emerge, the gaming industry might undergo significant changes. Essentially, it requires good game developers to produce quality content and effectively manage the game economy using blockchain.

For example, games like Fantasy Westward Journey and CSGO can certainly benefit from utilizing NFT technology and tokenization, but there are very few in the entire gaming industry that excel in economics, and those that do have well-established supporting facilities (Fantasy has the Scripture Pavilion, CSGO has the skin market).

It can be said that the token economics that GameFi desires is an ability that the traditional gaming industry severely lacks, which might explain why many gambling-type GameFi projects are quietly developing in the shadows.