Do you even DeFi?
In the depths of liquidity pools of vegetables, governance and manure are some yet still undiscovered, or almost forgotten decentralized finance projects. As the rug pulls quick some pull fair, as fair as a shitcoin launch can be. In the dark ages of past bear markets, there was already some farming and now as the pattern repeats itself as it did with NFTs we are here in the middle of a repeating pattern of DeFi. You are here today to uncover light where for you there is none, learn you will, to feel the rug pull before it moves.
Bitcorn Crops, there are only 21 Million Bitcorns and yes there are farms. Since 2018 players in the bitcorn crops game have been harvesting bitcorns (farming) for holding, $CROPS tokens. However that is not all, you can also customize your farm, claim part of the earth, and collect in-game NFTs. This proto-DeFi game has a lot to offer and lives on top of the bitcoin blockchain via the counterparty protocol. Any serious NFT collector would have at least one of each card, any serious DeFi degenerate would understand the value of bitcorn crops. There is even a bitcorns podcast “Crop Talk”. There is also a similar game but with a different twist. Mafia Wars came out around the same time and there you farm Mafia Cash depending on how many Mafia Family cards you have. Both are arguably the first DeFi farming games, ever.
When NFT meets DeFi you get a multiplication of degeneracy debauchery and Rekt. Starting as a social currency that is “backed” by a vault of NFTs (vault= one address with one person holding the private key). When $Rari came on the scene suddenly $Whale liquidity pools appeared and it was Defi/NFT. The NFTs will never be redeemed and are somehow connected with the value of $Whale, but how and why? Considering that it would be easy to simply prop up the prices of things you put in the vault and then say “hey look mega value evaluation” but don’t worry, there is a third party that is auditing the vault!. They are not auditing if it is a multisig, the age of the address, or what security measures are in place for that single key. They are evaluating the value of the NFTs in the vault. This independent evaluation is being done by NonFungibles .com who was paid in, drum roll…. $Whale to do the evaluation, no conflict of interest here, move along, and stay positive! Yet another vault has appeared the Kolektor vault $KLTR, and honestly, I have not had time to grasp what the goal of this vault is, but I can say I have enjoyed the gif and cctipbot action in the telegram channel pre token launch.
There is also $Coin which is the project of Coin Artist and the game Neon District. You can find $Coin by solving some of Coin Artist´s legendary puzzles. Then there is the E-Den liquidy farm, the $Coin vault, NFT shards $Cred, and more NFTs on top of that. Are you following? You provide liquidity get NFTs there is a vault holding NFTs and then you get NFT shards too (I think), and that is not all. Who will audit the vault? Will they be paid in $Cred $Coin shards ETH, BTC, or TRX? Does it matter? I’m happy to do a fully independent audit of the vault for only a small fee.
You can not talk about NFT DeFi without mentioning $Rari and one reason is, $Rari kept it simple. Buy NFTs or Sell NFTs on rarible.com earn $Rari that can be used later for governance. That is it, no shards, vaults, extra tokens on top, so far. $Rari is paid out weekly and often people simply dump it on to the market. Recently the largest holder Robness dumped everything and moved on to $BAE Blockchain Art Exchange which has a similar system to $Rari and potential for some mega growth*.
The by far best DeFi project out there is $BRRR. Not only is it on Tron but it also has an element of no loss gambling built into the gobrrrrernance. At the BRRR.FARM you can farm BRRR and then vote on the reward change with your BRRR. You will not lose any BRRR in the voting but the money printer might go more BRRR or less BRRR depending on how much BRRR was voted on Up, Neutral, or Down. By farrrrrr the most innovative degenerate and fun DeFi project as of yet and did I mention that it is on Trrrrrrrron? The animation of the money printer and the surprise when you press “claim” to claim your BRRR is worth every bit of BRRR that was ever prrrrinted.
Do you think DeFi is all about “serious” projects trying to bank the unbanked and replace bank lending systems? No, it is not, if DeFi can not get simple applications right, and test them over time then there is no need to build complex systems. General degeneracy, gambling, and collectibles are basic human urges that test systems in the most realistic as opposed to “serious” projects acting professional but in the end, degenerate as the next rug pull that gets you rekt.
*Not investment advice
Post Scriptum
I am more than willing to discuss any and everything on a voice or video livestream with neutral third party host, I have taken part in hundreds of youtube panels, countless real-life panels and informal discussion, ask around. If one would like to see the references of said panels I am more than willing to reference them as to provide evidence to be reassuring to anyone potentially involved that I do indeed debate in good faith.
Best,
Theo Goodman
