🟪 PolyPulse #15: Learn how to farm like a Whale
Also read about Polygon Token List, a way to ensure better access to Legitimate tokens on Polygon.
Howdy family!
Welcome to Poly Pulse - your guide to staying up-to-date on the latest trends in the Polygon DeFi ecosystem.
This newsletter breaks down top stories, developments, updates, and trends from the fourth week of March 2022 and a farming opportunity.
Whether you are a newbie who has just entered the DeFi ecosystem or a knowledge seeker who wants to keep yourself updated, PolyPulse newsletter is the best place to stay ahead of everyone in the community.
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During the fourth week of March 2022, the daily active users (DAU) increased for the third consecutive week, breaking the 400k milestone for the 5th time. Many DeFi dApps saw huge week over week movements, including QuickSwap (60k, +13%), KyberSwap (34k, +99%) SushiSwap (13k, +10%), UniSwap v3 (11k, +39%) primarily since the overall crypto market has been taking off and the users want to make the most of it to enjoy the returns.
Announcing the Ethereum Adoption DAO: Helping scale Ethereum to 100k Projects
Polygon invites Web3 builders to participate in a new collaborative initiative, called Ethereum Adoption DAO (EAD), aimed at pushing the adoption and implementation of new innovative projects on Ethereum ecosystem which comprises mainnet as well as Ethereum scaling platforms.
Ethereum Adoption DAO is a community that wants to assist this evolution by supporting the education of future builders, the formation of new projects and the development of public goods and unicorns on the Ethereum ecosystem.
While Polygon is proud to kick off this initiative, it will be just one among a number of equal Genesis Members. After the launch, Polygon will work together with the rest of the Membership team to help facilitate independence and credible neutrality of EAD, which will then be run by a core team and broader DAO community.
The main purposes are:
Business Development: Supporting the ideation and initiation of projects as well as collecting leads about projects, and sharing these leads equitably among Ethereum Adoption DAO participants;
Education: Helping upcoming and existing projects better understand Ethereum and related technologies by providing a repository of educational and training materials, including potentially developing new bespoke materials;
Content creation and aggregation: Providing a platform for the aggregation of existing content by the Ethereum Adoption DAO founder and participants as well as the publishing of new content.
The EAD initiative is open to all, including but not limited to Ethereum scaling solutions, Layer 2s, service providers, infrastructure and DefI tools providers. Everyone is welcome to join us in supporting the Ethereum ecosystem:
As a Genesis Team Member, if you are a leader/ influencer in the Ethereum ecosystem you can contribute to the project using your expertise and vision;
As a Contributor or an Evangelist, if you are a mentor, project manager, developer, student and you want to build the future with us;
As a Project, if you are building a Web3 application and you need support from the Ethereum ecosystem.
Visit the Ethereum Adoption DAO website and join theDiscord Server to find out more.
The Polygon Ecosystem DAO disbursed approximately half a million dollars to the project in the past week to enable building on Polygon! There were over 30 projects which benefited from the grants. The major grantees included Tetu, Copper, AdLuman, InsureAce, and Glory Games.
The DAO also launched a fresh set of analytical bounties at Layer3.xyz. These bounties are focussed on developing a Dune Analytics dashboards for various protocols on Polygon. If you are someone with good analytical skills you can check further details here.
Learn to farm stables like a whale:
What if you had $20M in USDC and were asked to farm on behalf of a whale on Polygon in only conservative farms with the best possible returns? Here is how you can do it.
Part A: $10M with exposure to multiple USD denominated stablecoins:
Below is how one could allocate the first $10M USDC into 3 farms across Curve Finance and Balancer. These pools give exposure to other stablecoins like USDT, DAI, MAI and EURT (Euro-Peg). Since the farmer is only exposed to stablecoins, there is no impermanent loss. However, beware of the risks associated with code vulnerabilities, hacks.
Read the entire strategy at the DeFi Pulse website.
Farming opportunities entails protocol risks, market risks, smart contract risks, and more. Treat this strategy as experimental, and never deposit more money than you can afford to lose.
To ensure users have better access to legitimate tokens, Polygon has introduced Polygon Token Lists based on Ethereum Token List standard proposed by Uniswap.
Teller Debuts Unsecured Lending to Singaporean DeFi Consumers with SG Loans on Polygon.
A word of caution when you deep dive into DeFi lending protocols
I think one of the biggest things to ensure while deciding on deploying your funds in a lending pool include factors (not limited to) like the total fund pool and the collateral cofactor of one’s supplied tokens. The returns cannot play the sole thesis to earn passive returns. You’d have to focus on the team, the audits, the narrative and the past records at the bare minimum.
Because most of the DeFi protocols are open-source, they may become the target of bad actors. We have to do our best to avoid and resist these bad guys by taking security measures as mentioned above. Thus, opting to use battle-tested protocols with proven leadership is a good, safe, and smart move all at once!
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