Olamide Daniel
Content creator, breaking down projects for better understan
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MEMECOINS
Today we are going to be talking about memecoins. Memecoins are tokens built in a particular blockchain that are majorly for the community. This simply means that unlike DeFi protocols whereby founds has large amount of the coin, memecoins is said to have little or none of the token to founders which means that everything is said to be distributed equally.
Memecoins has both its ups and downs which I'm going to be discussing with you guys below;
Memecoin is said to be a community driven token but at the same time a place where the largest rug pulls can happen. Rug pulls in the sense that the one with the highest token can decide to pull out when he or she sees the market is favorable leaving everyone on the losing side.
Trading memcoins can make you rich overnight still the same time make you poor overnight, its like a high risk investment platform, so the advise given to me is not to put all your capital in memecoins, if you have a $1000 its advisable for you to risk only $200.
so its memecoin a good investment platform, yes if you have a good training and study on what it entails.
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MEMECOINS VS DEFI
DeFi has a big market cap which means that the creators (founders) has a big amount of token.
memecoins looks majorly on the community but at the same time be careful on which memecoins you are to buy as most of them are found to be a rug pull system. Things to know a good memecoin is if they have a legit team.
If you have like $100 its not advisable to just put all into a memcoin because we don't really know whether its going to dump on you, use like 20$ for memecoins while the rest you can store it in stable coin.
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LETS TALK ABOUT A PROJECT IN THE SUI ECOSYESTEM
FULLSAIL
Full sail is a next generation decentralized exchange built on sui blockchain, leveraging an automated market maker (AMM) model that combines concentrated liquidity and dynamic fees for optimized trading and capital efficiency.
i know all this things maybe too hard for you to grabs so let me break it down, full sail is like bybit, binance been place for crypto trading where people can trade tokens but instead of a company controlling it, it runs on sui blockchain.
FEATURES ON FULLSAIL
(a) DYNAMIC FEES: Liquidity pools on full sail automatically adjust fees in real time according to volatility and volume. this helps to maximize liquidity provider returns while maintaining efficient, low cost trading for users
(b) TOKENOMICS: It said to use a Ve(4,4) model incentives long term staking and governance via Ve-sail.
(c) GOVERNACE MODEL: Reward alignment through community voting and emission control.
(d) PERFORMANCE: Fast, low-cost trades enabled by parallel execution on sui
(e) STRAGETIC BACKING: Supported by sui foundation, aftermath finance, and strong ecosystem ties.
HOW TO STAKE AND EARN ON FULL SAIL
(a) Download slush wallet from your android or your iphone.
(b) Register and fund your wallet with both sui and USDC or any other token.
(c) Go to the app and search for full sail.
(d) Click on the top left corner of your phone and click on liquidity.
(e) Click deposit on any of the liquidity pools you have money on both sides.
(f) Select the range of sui and USDC you want to deposit.
(g) Click on ADD LIQUIDITY
By this way you have added your funds to their liquidity pool which will say to be providing for you for a long space of time.
HOW TO CHECK YOUR STAKED COINS ON FULLSAIL
(a) Once you open the full sail app, click o the top left corner of your phone
(b) You will see position, click it.
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SIMPLIFYING CRYPTO TERMS PART 1
DeFi
We have been hearing the word DeFi but we really don't know what it means. DeFi is an abbreviation of Decentralized Finance and its said to be a system whereby transactions are not controlled by a centralized system. its is trustless, automated by smart contracts and it is permissionless. DeFi is decentralized which simply means that instead of it to be controlled by one network, it is been distributed to various nodes. Bitcoin is said to be a P2P decentralized censorship resistance and store of value.
WHAT IS SO DIFFERENT ABOUT DEFI
The thing that makes DeFi different from other centralized finance is because they make your money work for you instead of just been a place you can just keep it and leave it idle. here are some reasons why DeFi is different;
(a) Earning interest
(b) Earning market maker fee (trading fees)
(c) Pooled rewards (governance token)
HOW DO YOU QUALIFY AN APP IS DEFI
(a) You been able to have 100% control of your assets
(b) You been able to interact with apps, smart contracts and also avoiding any human middleman
(c) You not necessary doing KYC
(d) No restrictions
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