The Degens Are Toxic 👨‍🌾

You and me, sers. We are the retail now. We are toxic degens. The MMO PVP veggies are fun, but we are also killing the market.

We put huge bags into farming where the average APY turns into a 20% profit at best, while we risk the full 100% with no downside protection? Yup, that sums it up.

And I don't want to be a boomer, but when every second well-known founder starts participating in memes and PnDs, it's not really the community spirit or whatever CT tries to tell you - it's just degeneracy. And scammy, to be honest. "Projects" written in 2 days, not audited, attracting 500M USD TVL (total value locked) is pretty retarded. Wouldn't call that "experiments". YAM and its forks, potatoes of all sorts, shrimpy cream, and now bolognese - that's what I would like to eat when I go out... but we are stuck next to our laptops farming virtual shit! Next to being degenerate, this behavior is outright scammy as it dumps on unaware retail. Rug pulling, abusing token contracts to mint more, and all that stuff. Absolutely retarded.

Let's stop? 🤔

Give your attention to real value!

The bull starts and continues for longer if there is actual value being created. DeFi started something cool and fueled the market, but it's quickly detaching from reality. Not good sers.

If we want to save muh familie, we can do better. Give your attention and brains to projects with real cool use cases, participate in governance if you have time.

For example, YFI builders have been shipping a bunch of stuff, really making B.C. = Before Cronje = look like medieval times. I yolo'd all-inned into yVault, and there are other cool Y products and insurance coming up... Here are some links to click around and have fun with: ycosystem.info, learnyearn.finance/vaults/help, feel-the-yearn.vercel.app, yearn.finance/vaults, yieldfarming.info/yearn/yvault. The DAO makes about 15M USD annualized revenue (profits) now, which is mind-blowing: twitter.com/iearnfinance/status/1295582920841793537

The slight cannibalistic (parasitic?) Vault approach of harvesting and selling CRV could be soon mitigated - gov.yearn.finance/t/yip-37-participate-in-crv-governance-and-2-5x-crv-reward-boost/2611... We will dive into liquidity mining pitfalls likely in the next article. With CRV DAO launching dao.curve.fi, we could play around with: pool fees, admin fees, amplification, unkilling a pool, adding a gauge, changing gauge type, changing gauge weights, adding a pool to registry. That's pretty fun! And likely Y can play a role here as well, for the sake of growing the ecosystem long-term.

100 projects from China and Korea are coming with their DeFi (total scham, let's be honest) and many ICOs are getting ready to moneygrab. The older non-listed projects are gearing to list in the next months, coming out of retarded sleep which lasted over a year. They are late to the party, as always. But which founders kept shipping during bear? Let's give them some spotlight! 🦞

PS: is the TOP in? 👁

From the one hand, every second pooler is making their own coin coin and is preparing 3 DeFi projects. On the other hand, youtubers and the retail still know nothing about DeFi. It's not like it was with ICOs where retail was activerly participating. So it's not really whether we are late in the cycle or early. A lot of it will be decided by traditional markets and BTC. Stay safu.