Victor Ogunnaike ◱ ◱ (@web3protocols) • Hey
A crypto enthusiast and crazy Web3 user.
Publications
- Good morning to the GREEN 💚 💚 💚 world.
- Bring your Crocs to ETH Tokyo tomorrow
- You might have missed out on $arb, but ...
Don't miss out on DiverseHQ Mainnet!
Collect this post for FREE, and you will be whitelisted.
- ETH Tokyo Music NFT Kickback
Sunday, April 16th @ 21:00
- It's good to see Scott score 4 goals in 2 matches, this are things we don't see everyday from him
- What series are you guys currently watching?
- Yumi market celebrated 1 year anniversary this week
- I attended the Collab space today, I must what they're building is pretty amazing and innovative
- Engage with Tomi Finance guys
- If u sacrificed check ur allocation
😊😊😊😊😊😊
https://pulsechain-sacrifice-checker.vercel.app/
[Sacrifice Checker](https://pulsechain-sacrifice-checker.vercel.app/)
- What do you guys think about the current market condition
- GM
- Zksync era is here a new dawn begins
- I can't still believe this profileswhere collected for free 8 months ago
- Can $Arb touch 4$ next month?
- I might have to start lens guild quest tonight
- I minted on arbitrum today, I really love the eyes**
- Wombats are the only animal whose poop is cube-shaped. This is due to how its intestines form the feces. The animals then stack the cubes to mark their territory.
- Have you joined the the Yasai Lens Festival yet? You shouldn't miss out on this!
#Yasai
- Now go to Stargate Finance Staking Tab : https://stargate.finance/stake
And stake your token
Once you stake the token, you get the voting power.
Now keep voting on Stargate Finance Governance Proposals regularly: https://snapshot.org/#/stgdao.eth
By doing this, you’re now a DAO Voter of Stargate Finance, which can potentially qualify you for the Layer Zero airdrop!!
[Stargate](https://stargate.finance/)
A fully composable native asset bridge with unified liquidity and instant guaranteed finality built on top of LayerZero
- 3 days ago, Arbitrum Foundation has been minted Arbitrum Nove with total supply 10B $NOVE
Arbitrum Nova raised $120M from Polychain, Coinbase, Pantera capital, Lightspeed Venture, Redpoint, Ribbit Capital, and Alameda Research
My Strategies :
1. Add Network
• Go to chainlist.org/chain/42170
• Connect Metamask
• Add Arbitrum Nova network
2. Bridge
• Go to bridge.arbitrum.io
• Bridge ETH Mainnet to Arbitrum Nova
3. Trade NFT
• Go to nova.exhibitio.io or tofunft.com
• Buy/sell NFT on Arbitrum Nova network
4. Swap and Provide Liquidity
• Go to arbswap.io
• Swap ETH Arbitrum Nova to any pairs (i.e. ETH/USDC)
• Add Liquidity on arbswap.io/liquidity
5. Withdraw
• Go to orbiter.finance
• Withdraw your funds from Arbitrum Nova to ETH Mainnet
Is there retrodrop for Arbitrum Nova?🤷♂️
NOTE :
• Volumes are important
• To maximize your eligibility, Bridge and Swap weekly/monthly to avoid being detected as a bot
[Arbitrum Nova RPC and Chain settings | Chainlist](http://chainlist.org/chain/42170)
Find the best Arbitrum Nova RPC to connect to your wallets and Web3 middleware providers.
- 🤔🤔🤔🤔
- 👀 Rumor snapshot of metamask user's
Not just using metamask but bridging and swapping with metamask official Defi
👉Bridge: https://portfolio.metamask.io/bridge
👉Swap: https://portfolio.metamask.io/swap
Target ⤵️
- Create more than 4 transaction
- Complete $1000
Rumor snapshot date: 31 March 2023
#DYOR
- Pulsechain could be a big surprise in 2023. Pulsechain will be big too ✅✅✅✅✅
- Be extra careful guys. Dedicate a burner wallert for different interaction especially Testnets.
- So good to be alive at this current time of Blockchain infancy. More opportunities to come. #Arbitrum
- 😂😂😂😂
- F you survived the bear season till this moment, you are a King 👑 and may the odds be in your favor during the next bull run.
- Does this send a message???😊😊😊😊
- Binance celebrated PI day with all Pioneers. Don't forget there is a pi pay option on the payment channel of Binance too... 😎😎😎😎
- I think I love Orbapp @orbapp.lens
- The market is static.... No bears no bulls. 🤔
- It's a cloudy Sunday world 🌎🌎🌎
- Good morning world. #yasai
- Good morning world. #yasai
- Good morning world. #yasai
- Imagine this in an African home. I can't believe my eyes.
I can't believe my eyes. Doing this an African home in front of a lady's parents. #bytes
- Being loyal is not enough. But being loyal to the right is all that counts. 🤔🤔🤔
- Oh. How I wonder what Heaven will like. Come Lord Jesus. Come!!! 🥺🥺🥺🥺
- Peace of mind is an asset. Don't joke with it.
- Barbeque fish, chip and salad. Yummy 😋😋😋
- I can't stop laughing... Nigeria is a comedy zone. 😅😅😅
- It's good to be green. 💚 Green 🍏
@greenation.lens
- https://mobile.twitter.com/tier10k/status/1590727907454095361
Out of $16B customer's fund with FTX, them don borrow Alameda $10B, collaterized with FTT wey market cap no reach $3B, and una say una dey hold $8B worth of FTT
- Check this out guys .... https://twitter.com/cz_binance/status/1590013613586411520?s=46&t=zZ99F-tflVjAGKibLxnA5g
[CZ 🔶 Binance on Twitter](https://twitter.com/cz_binance/status/1590013613586411520)
“This afternoon, FTX asked for our help. There is a significant liquidity crunch. To protect users, we signed a non-binding LOI, intending to fully acquire https://t.co/BGtFlCmLXB and help cover the liquidity crunch. We will be conducting a full DD in the coming days.”
- Go withdraw funds from FTX if you have ...💔💔💔 I don't anyway.
- What happens if CZ buys FTX?
Let’s start by answering, who is CZ?. Changpeng Zhao is the CEO of Binance, world leading crypto exchange platform by volume and by user-base.
FTX in the other hand, is the second largest crypto exchange in the world, owned by Sam Bankman-Fried’s (SBF)
Yesterday, SBF dropped all pride prior and contacted CZ to buy FTX and help bailout in the shortage of liquidity.
Note: A Non-binding LOI (Letter of intent) was signed, which means CZ/Binance can pull out of the deal at anytime if they feel buying FTX is a wrong thing to do.
The whole problem started from….
A few years ago, CZ and Binance invested on FTX and made over $2.1b from the deal which was paid back to CZ in form of $FTT and $BUSD (FTT is the native token of FTX exchange just like we have BNB being the native token of Binance while BUSD is a stable coin owned by Binance)
*Stable coin: A crypto token pegged to the value of the US dollar based on 1:1, its like saying null BUSD = null USD.
Now, recall, Binance holds virtually all crypto in the world both in large and small quantities for the long term. It is also rumored that they are the biggest holder of bitcoin, over 250,000 Bitcoin which is more than the rest of the world.
The whole problem started when a popular crypto news platform called CoinDesk caught up with some documents showing that Alameda Research group is going insolvent.
*Alameda research group: founded by SBF, with CEO Caroline Ellison. Alameda research group is like the trading firm/Assets management, they trade various assets and they serve as one of the biggest liquidity providers too.
So, CZ and other market users obviously got wind of the impending bankruptcy on Alameda Research.
What would you do as a smart investor?
To avoid the same issue Binance had with LUNA, a similar crypto project that fell nearly to zero, Binance through CZ made transparency reports that they would start to gradually sell off their holdings on $FTT.
Same day, about $538m worth of $FTT was transferred into Binance to be dumped on the market,
Then, FTT was trading at $23 per token, the CEO of Alameda Research pleaded with CZ to instead sell the tokens to them at $22 each,
During this whole chaos, SBF told the community that everything was fine— in true sense, it wasn’t.
Other whales (people with big bag holders) and traders started playing smart trying to secure their holding before it nukes, on hearing that Binance has started a sell off,
Ok pause!
Why did the price dump that fast? If truly they aren’t insolvent??
Well, it turns out that truly they are?
They had No Liquidity to cushion the effect of massive sell off, hence prices were really volatile.
The massive sell off started when, FTX website had a lot of backlog of sales that aren’t being processed, out of fear people who had their funds in Decentralized wallets and other exchanges started selling really fast.
Like you must have read, Liquidity is everything.
Liquidity can be explained in layman’s term as: a man who owns a car of 2m, house of 5m and cash of 3m has a liquidity of 3m because that’s the only value that is liquid and can be transacted at that point.
What is the way forward?
if CZ is successful6 acquires FTX, bet me, he would acquire even more exchanges because truly, there’s alot of gambling with people’s funds going on in exchanges.
If you don’t understand why I said gambling, the few point below will explain better.
You see how DEXes (Decentralized Exchanges) tells you to buy their token, gives you rewards some even ask you to lock the token for a certain period — what they do is to lend those money out, withdraw and stake somewhere else with much higher ROI, make their profits split some with stakers and buys back their token sending the price of their token even much higher and giving more confidence to their stakers to keep staking.
However, most times this doesn’t go as planned and they end up running at loss.
Now, this is why I earlier said, Binance through CZ is gunning to be the biggest Exchange ever and shall remain so while acquiring other smaller exchanges.
CZ said; “All crypto exchanges should do merkle-tree proof-of-reserves.
Banks run on fractional reserves.
Crypto exchanges should not.
Binance will start to do proof-of-reserves soon. Full transparency.”
What this means is that, there should be more transparency In running a crypto exchanges where everyone shows their proof of reserve (Binance calls theirs SAFU Funds, secure assets funds for users)
A very proactive CZ has just topped their SAFU funds with nullB just this morning,
Going by this sort of transparency, many Exchanges may not be able to keep up, then file for insolvency and gets acquired.
CZ is a very good businessman, he knows the weaknesses of competitors and works closely to overturn that.
Speculation has it that, CZ took that action of dumping FTT because he was angry with his good-old friend SBF, who is lobbying his way through regulation and painting opposition in a bad light.
- Let's follow each other guys...
- What are the benefits of having a lens profile??? Can anyone enlighten must? Let's learn
- My prayer is Arbitrum shouldn't pass me by... 🥺🥺🥺