LIVEbtc-雪村
@btc-pwxcoo
Following
Followers
Liked
Shared
See original
Let’s talk about funding rate arbitrage
1. Background
Perpetual contracts have a funding rate, and longs and shorts pay each other, mostly 3 times a day. When the funding rate is positive, longs pay shorts, and when the funding rate is negative, shorts pay longs. From the historical funding rate, most of the time it is a positive funding rate. One way to play is to earn funding rates through spot + short contracts. The income obtained is almost risk-free and the APR is good. As the most common arbitrage idea, this gameplay has been scaled and productized. For example, Ethena relies on the perpetual contract funding rate to create USDE, and many CEXs also provide trading tools for funding rate arbitrage.
Perpetual contracts have a funding rate, and longs and shorts pay each other, mostly 3 times a day. When the funding rate is positive, longs pay shorts, and when the funding rate is negative, shorts pay longs. From the historical funding rate, most of the time it is a positive funding rate. One way to play is to earn funding rates through spot + short contracts. The income obtained is almost risk-free and the APR is good. As the most common arbitrage idea, this gameplay has been scaled and productized. For example, Ethena relies on the perpetual contract funding rate to create USDE, and many CEXs also provide trading tools for funding rate arbitrage.
See original
#HMSTR $HMSTR
Binance is going to list Hamster launchpool and Super Earn Coin. Here are some important information:
1️⃣ The total supply of tokens is 100 billion. Refer to the market value of $DOGS and $NOT (600-800 million). If the market value is similar, the price is about 0.006-0.008. I think it has fallen to 0.02 before the market.
2️⃣ The upper limit of "Super Earn Coin" subscription is 30,000 $HMSTR (7 days). At the price of 0.02, the total upper limit is about 600u. It is indeed much lower than the previous upper limit of 1350 of $TON. But Super Earn Coin is profitable if you grab it.
Binance is going to list Hamster launchpool and Super Earn Coin. Here are some important information:
1️⃣ The total supply of tokens is 100 billion. Refer to the market value of $DOGS and $NOT (600-800 million). If the market value is similar, the price is about 0.006-0.008. I think it has fallen to 0.02 before the market.
2️⃣ The upper limit of "Super Earn Coin" subscription is 30,000 $HMSTR (7 days). At the price of 0.02, the total upper limit is about 600u. It is indeed much lower than the previous upper limit of 1350 of $TON. But Super Earn Coin is profitable if you grab it.
LIVE
Binance Announcement
--
Binance Launchpool and Super Earn Coin list HMSTR project, use BNB and FDUSD to get Hamster Kombat (HMSTR)
Important: Binance will be the first platform to list this token, and trading will open on September 26, 2024 at 20:00 (GMT+8). Any claims of selling this token before the stated timeline are false advertising. Please do your own research to ensure the safety of your funds!
Dear User:
Binance Launchpool now has the 58th project - Hamster Kombat (HMSTR), a cryptocurrency exchange CEO simulator P2E game built on the Telegram mini-program platform.
Users can invest BNB and FDUSD into the HMSTR reward pool on the Launchpool website after 08:00 (GMT+8) on September 23, 2024 to receive HMSTR rewards. The HMSTR activity will last for 3 days. The website is expected to be updated within 24 hours of this announcement before the activity opens.
Dear User:
Binance Launchpool now has the 58th project - Hamster Kombat (HMSTR), a cryptocurrency exchange CEO simulator P2E game built on the Telegram mini-program platform.
Users can invest BNB and FDUSD into the HMSTR reward pool on the Launchpool website after 08:00 (GMT+8) on September 23, 2024 to receive HMSTR rewards. The HMSTR activity will last for 3 days. The website is expected to be updated within 24 hours of this announcement before the activity opens.
See original
#Floki #CAT #空投
$FLOKI's simon cat $CAT has arrived. The exchange does not list this coin, so you need to withdraw it to sell. If you want to sell it, just transfer it to your wallet and swap it directly.
1️⃣ Open Binance web3 wallet, select withdraw, and select $CAT to transfer to your wallet. You need to pay a little gas. It will arrive in less than 1 minute.
2️⃣ Select the market tab, $CAT is in the hot list, after selecting it, click in and pull to the bottom. There is a contract address: 0x6894cde390a3f51155ea41ed24a33a4827d3063d. Copy it.
3️⃣ Return to the homepage, select the management token below, add the contract address of $CAT, and select BEP20 for the network. After adding, you can see the number of tokens.
4️⃣ Select the Exchange tab, select $CAT and $USDT trading pairs to swap. You need to authorize twice, the first time to authorize $CAT and the second time to authorize the transaction.
$FLOKI's simon cat $CAT has arrived. The exchange does not list this coin, so you need to withdraw it to sell. If you want to sell it, just transfer it to your wallet and swap it directly.
1️⃣ Open Binance web3 wallet, select withdraw, and select $CAT to transfer to your wallet. You need to pay a little gas. It will arrive in less than 1 minute.
2️⃣ Select the market tab, $CAT is in the hot list, after selecting it, click in and pull to the bottom. There is a contract address: 0x6894cde390a3f51155ea41ed24a33a4827d3063d. Copy it.
3️⃣ Return to the homepage, select the management token below, add the contract address of $CAT, and select BEP20 for the network. After adding, you can see the number of tokens.
4️⃣ Select the Exchange tab, select $CAT and $USDT trading pairs to swap. You need to authorize twice, the first time to authorize $CAT and the second time to authorize the transaction.
See original
What are FDV and TVL?
1. FDV (Fully Diluted Valuation): Fully diluted market value. Fully diluted valuation refers to the total market value of a token if all tokens to be issued are already circulating in the market. FDV provides an estimate of the potential market value of the project, and compared with the circulating market value, it can also estimate the selling pressure and dilution that may be caused by future unlocking.
2. TVL (Total Value Locked): Total locked value. It measures the total value of all locked crypto assets in a protocol. It is used to evaluate the actual usage, potential benefits and market confidence of the protocol. Many L2 and public chains have this concept. The more people use it, the higher the TVL will naturally be.
Projects with high FDV may have greater room for future growth, but also come with greater dilution risks, while projects with high TVL are generally regarded as more robust, but their growth potential may be limited.
The TVL of #TON has fallen in the past two days because the news of Durov's arrest has caused a large amount of funds to flee for risk aversion. Pay attention to the TVL of #TON in the past few days and pay attention to the reaction of market sentiment to TVL.
1. FDV (Fully Diluted Valuation): Fully diluted market value. Fully diluted valuation refers to the total market value of a token if all tokens to be issued are already circulating in the market. FDV provides an estimate of the potential market value of the project, and compared with the circulating market value, it can also estimate the selling pressure and dilution that may be caused by future unlocking.
2. TVL (Total Value Locked): Total locked value. It measures the total value of all locked crypto assets in a protocol. It is used to evaluate the actual usage, potential benefits and market confidence of the protocol. Many L2 and public chains have this concept. The more people use it, the higher the TVL will naturally be.
Projects with high FDV may have greater room for future growth, but also come with greater dilution risks, while projects with high TVL are generally regarded as more robust, but their growth potential may be limited.
The TVL of #TON has fallen in the past two days because the news of Durov's arrest has caused a large amount of funds to flee for risk aversion. Pay attention to the TVL of #TON in the past few days and pay attention to the reaction of market sentiment to TVL.
See original
USDe's principles and potential risks
1. The principle of usde
It is essentially a funding rate arbitrage agreement. USDE is a new type of stablecoin collateralized by equal amounts of spot longs (mainly ETH) and futures shorts.
The benefits of the agreement come from two aspects:
1) Staking income for spot longs. Staking spot ETH through liquidity staking derivative protocols such as Lido can earn an annualized return of 3% - 5%.
2) Unstable returns from futures short funding rates. Users familiar with futures contracts understand the concept of funding rates. Although funding rates are an unstable factor, for short positions, the funding rates are positive most of the time in the long run, which also means that the overall returns will be positive.
It is essentially a funding rate arbitrage agreement. USDE is a new type of stablecoin collateralized by equal amounts of spot longs (mainly ETH) and futures shorts.
The benefits of the agreement come from two aspects:
1) Staking income for spot longs. Staking spot ETH through liquidity staking derivative protocols such as Lido can earn an annualized return of 3% - 5%.
2) Unstable returns from futures short funding rates. Users familiar with futures contracts understand the concept of funding rates. Although funding rates are an unstable factor, for short positions, the funding rates are positive most of the time in the long run, which also means that the overall returns will be positive.
See original
Understanding the death spiral of luna and ust
Luna and UST's death spiral returned to zero in 22 years, which is a cautionary tale. Let's see what happened.
1. ust algorithm stabilization mechanism
In short, you need to understand the stability mechanism of luna and ust first:
1. Creation of UST: Burn $1 of Luna at market price and you can mint one UST.
2. Destruction of ust: Burn one ust and you can mint luna at $1 market price.
When ust>$1: the market will have arbitrageurs who buy $1 of luna at the market price, burn it, mint 1 ust, and sell this 1 ust at a price higher than $1. The market completes the arbitrage, thereby driving the supply of ust and allowing ust to return to the anchor of $1.
1. ust algorithm stabilization mechanism
In short, you need to understand the stability mechanism of luna and ust first:
1. Creation of UST: Burn $1 of Luna at market price and you can mint one UST.
2. Destruction of ust: Burn one ust and you can mint luna at $1 market price.
When ust>$1: the market will have arbitrageurs who buy $1 of luna at the market price, burn it, mint 1 ust, and sell this 1 ust at a price higher than $1. The market completes the arbitrage, thereby driving the supply of ust and allowing ust to return to the anchor of $1.
See original
Popularization of BTC transaction size units: There are generally three units of measurement, bytes, weight units, and virtual bytes.
1️⃣ bytes: bytes (no longer used after SegWit). It is the storage size occupied in the computer that we see every day. Old transactions (before SegWit) are measured in this way. Generally speaking, the more inputs and outputs, the more bytes, and the larger the transaction size.
2️⃣ weight units: weights (unique to BTC), introduced after SegWit. To put it simply, first divide the transaction into transaction data + witness data, transaction data * 4 + witness data = weight size.
3️⃣ virtual bytes: virtual bytes (unique to BTC), introduced after SegWit. Weight size divided by 4 is virtual byte size, so it can also be understood as: transaction data + witness data * 0.25 = virtual byte size.
Virtual bytes are very intuitive, and old blocks can also be measured and compared in this way. However, weight units are basically used in program codes, because virtual bytes will introduce decimal calculations, and there will always be various problems with computer floating-point numbers, so weight units are basically used in programs. However, in scenarios such as displaying to humans, the more intuitive virtual bytes are used.
1️⃣ bytes: bytes (no longer used after SegWit). It is the storage size occupied in the computer that we see every day. Old transactions (before SegWit) are measured in this way. Generally speaking, the more inputs and outputs, the more bytes, and the larger the transaction size.
2️⃣ weight units: weights (unique to BTC), introduced after SegWit. To put it simply, first divide the transaction into transaction data + witness data, transaction data * 4 + witness data = weight size.
3️⃣ virtual bytes: virtual bytes (unique to BTC), introduced after SegWit. Weight size divided by 4 is virtual byte size, so it can also be understood as: transaction data + witness data * 0.25 = virtual byte size.
Virtual bytes are very intuitive, and old blocks can also be measured and compared in this way. However, weight units are basically used in program codes, because virtual bytes will introduce decimal calculations, and there will always be various problems with computer floating-point numbers, so weight units are basically used in programs. However, in scenarios such as displaying to humans, the more intuitive virtual bytes are used.
See original
Bitcoin Address Basics
1. Introduction to various BTC addresses
There are many types of BTC addresses, which are introduced below:
1️⃣. P2PK (Pay-To-Public-Key): Pay to public key. In fact, it is a public key. The block reward transaction of the coinbase transaction in block 0 is directly paid to the public key. This type of address holds about 9% of BTC. Due to cost and privacy issues, it has been abandoned.
2️⃣. P2PKH (Pay-to-Public-Key-Hash): Pay to the hash of the public key. This is the common address starting with 1. The public key is hashed through SHA-256 and RIPEMD-160, encoded through Base58, and a checksum is introduced. This type of address holds about 43% of BTC. It is still in use, but not as popular.
There are many types of BTC addresses, which are introduced below:
1️⃣. P2PK (Pay-To-Public-Key): Pay to public key. In fact, it is a public key. The block reward transaction of the coinbase transaction in block 0 is directly paid to the public key. This type of address holds about 9% of BTC. Due to cost and privacy issues, it has been abandoned.
2️⃣. P2PKH (Pay-to-Public-Key-Hash): Pay to the hash of the public key. This is the common address starting with 1. The public key is hashed through SHA-256 and RIPEMD-160, encoded through Base58, and a checksum is introduced. This type of address holds about 43% of BTC. It is still in use, but not as popular.
See original
Understanding mempool series (I)
Mempool is a website for checking the block and transaction memory pool of the Bitcoin network. It is very useful for checking the on-chain handling fees and on-chain congestion in daily life.
Here is a brief introduction to the meanings of several panels on the homepage (with pictures):
mempool 1-1
mempool 1-2
1. Confirmed blocks. There is a serial number, indicating that it is the xth block on the chain.
2. Unconfirmed blocks.
3. Overview of block contents. From top to bottom:
3.1 Median Fee Rate
3.2 Fee Rate Range
3.3 Total block transaction fees (in addition to this, miners also receive block rewards, currently 3.125 BTC)
Here is a brief introduction to the meanings of several panels on the homepage (with pictures):
mempool 1-1
mempool 1-2
1. Confirmed blocks. There is a serial number, indicating that it is the xth block on the chain.
2. Unconfirmed blocks.
3. Overview of block contents. From top to bottom:
3.1 Median Fee Rate
3.2 Fee Rate Range
3.3 Total block transaction fees (in addition to this, miners also receive block rewards, currently 3.125 BTC)
See original
The Taproot upgrade is implemented by three Bitcoin Improvement Proposals (BIPs):
1.1) Schnorr Signature (BIP340): This signature algorithm can integrate the signatures of all parties into a single Schnorr signature, optimizing the processing of multi-signature transactions. At the same time, this signature algorithm is more efficient and secure, thereby increasing transaction processing speed and reducing the space required for transactions.
1.2) Taproot (BIP341): Merkelized Alternative Script Tree (MAST) is used to process scripts. In simple terms, it is to optimize/merge scripts for multi-signature transactions, reducing the space required for transactions and improving efficiency. At the same time, it can make complex transactions and simple transactions in the block indistinguishable, protecting privacy to a certain extent.
1.3) Tapscript (BIP342): Define a set of opcodes, optimize script writing, increase the available space in the block, and make new functions more flexible. Pave the way for future smart contracts.
In summary: Taproot upgrade reduces the amount of data transmitted and stored in the blockchain to improve network scalability and efficiency, improves privacy to a certain extent, and supports more complex scripts. This paved the way for the subsequent Ordinals protocol.
1.1) Schnorr Signature (BIP340): This signature algorithm can integrate the signatures of all parties into a single Schnorr signature, optimizing the processing of multi-signature transactions. At the same time, this signature algorithm is more efficient and secure, thereby increasing transaction processing speed and reducing the space required for transactions.
1.2) Taproot (BIP341): Merkelized Alternative Script Tree (MAST) is used to process scripts. In simple terms, it is to optimize/merge scripts for multi-signature transactions, reducing the space required for transactions and improving efficiency. At the same time, it can make complex transactions and simple transactions in the block indistinguishable, protecting privacy to a certain extent.
1.3) Tapscript (BIP342): Define a set of opcodes, optimize script writing, increase the available space in the block, and make new functions more flexible. Pave the way for future smart contracts.
In summary: Taproot upgrade reduces the amount of data transmitted and stored in the blockchain to improve network scalability and efficiency, improves privacy to a certain extent, and supports more complex scripts. This paved the way for the subsequent Ordinals protocol.
See original
1. Ordinals protocol: Each bitcoin is composed of 100 million satoshis. The Ordinals protocol allows each satoshi to be identified and traded through additional data. In fact, the order in which each statoshi is minted is used as a mark, and then the transaction inscribes the data into the witness data in the block. After inscription, the first statoshi can be used as a unique mark (determined by transaction hash or statoshi serial number). This can be used as an NFT on the BTC chain.
2. BRC20: A protocol for issuing tokens using the ordinals protocol. In fact, when writing witness data, a string of json is written, and this json follows a series of rules agreed upon by the brc20 protocol. For example, ticker name, maximum issuance, depoly/mint/transfer operations, etc.
3. Runes: A BTC token issuance protocol similar to BRC20. However, the data is not written into the witness data, but is implemented using BTC's OP_RETURN opcode, which directly adds the data to the transaction (the OP_RETURN opcode is limited to 80 bytes, so it is not suitable for NFT, but it is more than enough for tokens).
2. BRC20: A protocol for issuing tokens using the ordinals protocol. In fact, when writing witness data, a string of json is written, and this json follows a series of rules agreed upon by the brc20 protocol. For example, ticker name, maximum issuance, depoly/mint/transfer operations, etc.
3. Runes: A BTC token issuance protocol similar to BRC20. However, the data is not written into the witness data, but is implemented using BTC's OP_RETURN opcode, which directly adds the data to the transaction (the OP_RETURN opcode is limited to 80 bytes, so it is not suitable for NFT, but it is more than enough for tokens).
See original
What is stored in the Bitcoin block?
There are 5 parts in total:
1. Magic number
2. Blocksize
3. Blockheader
4. Transaction counter
5. Transactions
btc block structure
1. Magic number
The fixed value is 0xD9B4BEF9, and this part occupies 4 bytes.
The magic number is not unique to BTC. Many software applications/protocols have such a design to identify file formats or protocols. For example, when a GIF is opened with a text editor, it starts with GIF. As for why it is 0xD9B4BEF9, it may be that this number has some special meaning to Satoshi.
1. Magic number
2. Blocksize
3. Blockheader
4. Transaction counter
5. Transactions
btc block structure
1. Magic number
The fixed value is 0xD9B4BEF9, and this part occupies 4 bytes.
The magic number is not unique to BTC. Many software applications/protocols have such a design to identify file formats or protocols. For example, when a GIF is opened with a text editor, it starts with GIF. As for why it is 0xD9B4BEF9, it may be that this number has some special meaning to Satoshi.
See original
What is Segregated Witness
Segregated Witness is a proposal (BIP-141) aimed at solving the transaction malleability problem on the Bitcoin blockchain.
1. What is Transaction Malleability?
That is, the transaction content has not changed, but the transaction ID has changed. The ECDSA signature algorithm used in the BTC network, due to the symmetry of the elliptic curve, can always calculate two valid signatures for a transaction, and these two valid signatures can also be calculated from each other. After broadcasting a transaction, a transaction with the same content is published with a different signature. The two transactions have the same content but different transaction IDs, which will mislead participants in the network.
1. What is Transaction Malleability?
That is, the transaction content has not changed, but the transaction ID has changed. The ECDSA signature algorithm used in the BTC network, due to the symmetry of the elliptic curve, can always calculate two valid signatures for a transaction, and these two valid signatures can also be calculated from each other. After broadcasting a transaction, a transaction with the same content is published with a different signature. The two transactions have the same content but different transaction IDs, which will mislead participants in the network.
Explore the latest crypto news
⚡️ Be a part of the latests discussions in crypto
💬 Interact with your favorite creators
👍 Enjoy content that interests you
Email / Phone number
Trending Topics
WeAreAllSatoshi
327,022 views
186 Posts
Who is Satoshi Nakamoto? 🤔
Can you crack the Bitcoin creator mystery? 🕵️♂️🕵️♀️ Post your wildest memes, craziest theories, and thoughts on Satoshi’s identity using the hashtag #WeAreAllSatoshi
Is Satoshi an alien? A time traveler? Your neighbor's cat? 🐱 Let your imagination run wild! 🚀
We'll be reacting to the funniest entries, so bring your A-game!
Ready, set, meme!
Binance Square Official
213 Likes
230.6k views
BinanceLaunchpoolHMSTR
127.4M views
41,753 Posts
SECAppealRipple
776,609 views
645 Posts
