Defillama, a commonly used tool in the currency circle

Hello everyone, I am the God of Wealth.

Defillama is a website that became popular in 2020. DeFi applications were very popular at that time. The original intention of this website was to display the TVL of these DeFi protocols, make a list, and compare them.

Unexpectedly, it is still developing now.

Llama means alpaca, so the logo of this website is also an alpaca, which is the mythical animal "Grass Mud Horse" that became popular on the Maopu forum in the past. Haha, it's quite childish and boring.

There is also a swap gathering place here, similar to 1inch, but its principle is completely different from 1inch.

1inch does back-end routing, that is, there is a routing smart contract; but Defillama's swap does not, it is front-end routing.

So don’t bother to use this swap and expect it to give you airdrops. Because it has absolutely no idea that you have swapped here.

If you interact with a smart contract, it will be recorded on the Ethereum chain.

But if you use Defillama's swap, the Ethereum chain will not know it. If Defillama wants to know this, it must record it on the front end and then write it to the back-end database.

What I said is very important. If you don’t understand it, read it several times or search for more information online.

You need to understand the front-end and back-end of the website, as well as the principles of smart contracts.

These are very important, I need to emphasize them many times, and I will continue to emphasize them in the future.

Currency applications are generally called Dapps. The most common architecture is front-end + smart contract (back-end). A typical example is Uniswap, which is UI + Smart Contract. Chinese people would say "front-end", and English would definitely say UI.

There was an incident in 2023.

There were conflicts within the Defillama team. A buddy said that he would fork Defillama and issue a coin. This matter later died out.

Let’s first talk about the concept of “bifurcation”.

As far as I know, the earliest word "fork" comes from GitHub. It means that you copy someone else's code base (repository), and you modify it for your own use based on the copied copy.

This is easy to understand.

It's like when we were in college, we had a C language course. When I took the computer class, I couldn't write code, so the homework was to copy the code written by other students. But in order to prevent the teacher from seeing it, I changed the variables in the code The names have been changed. For example, the character variable written by others is called str, and I changed the name to stu, which means this.

What the currency circle calls "fork" usually refers to making a copy of a "blockchain", thus turning it into two versions. It is divided into soft fork and hard fork. If you are interested, you can search on Google and learn more.

Devillama is just a website, and there is nothing to fork. The so-called fork means just making another identical website.

There was another incident in 2023, which was about Uniswap.

Uniswap said they charge front-end fees. If the user uses the Uniswap website or Uniswap mobile wallet, the currency exchange fee will be 0.45%.

At that time, investors were very unhappy because the fees collected were not distributed to $UNI Coin East; this approach also has another implication, that is, $UNI token holders (Coin East) only have the rights to the smart contract on the Uniswap chain. Governance rights and interests do not have rights in the UI part.

This discussion is detailed. This kind of discussion has not been seen in the currency circle before.

Governance rights have been debated ever since the advent of Bitcoin. I discussed this problem in my book "Four Golden Threads". There is a lot to talk about here. You see, Bitcoin is accounted for by POW mining machines, so if the mining machines are shut down, the software will be down. But the miner has no coins in his hands. This is a typical architecture that splits currency rights and services (computing power).

This was not intentionally designed by Satoshi Nakamoto. When he designed the Bitcoin software, he never considered such a complex issue.

When building a house 20 years ago, did anyone consider the problem of so many food delivery riders today? If you think about it, you must have designed a takeout delivery system in the building. The riders put the takeout downstairs and delivered it directly to every household on each floor.

The economic model of Tornado is that $TORN Coin East only has rights and interests in the UI part. $TORN governance rights are for the Relayer responsible for withdrawing coins, not for the smart contract that completes currency mixing. The smart contract of coin mixing is entrusted to the black hole address, cannot be changed, and has nothing to do with the $TORN token. This is exactly the opposite of Uniswap.

What I'm talking about is very important. If you don't understand it, just read it a few times or find some extended materials.

I often go to Defillama to look at various data, such as the TVL of various Dapps; or the transaction volume of various swaps.There is a lot to see. #币圈生存 #BTC

It takes three years to enter the industry, five years to master it, and ten years to become the king. Trading is not about getting rich in one go, but about making reasonable profits that can be long-term, stable, sustainable, and highly probable, so that you can continuously obtain wealth. Professionalism creates value and details determine success or failure.

I am the God of Wealth, a veteran in the currency industry, and I only tell the truth. If you are interested in the currency circle and want to get started quickly but feel confused, please follow me and contact me through the homepage. I will provide you with real, valuable advice to help you move forward steadily. Let’s explore, grow and create brilliance in the currency circle together!