Anoop Nannra’s Post

Top cryptos to watch: Qubetics ($TICS) revolutionizes cross-border payments with Web3 tech, while Hedera shines in scalability and enterprise adoption. Act now! https://lnkd.in/dWMvTmzp

Top concerns for businesses in the world of crypto payments include high processing fees, compliance concerns and settlement challenges. These can slow down the financial efforts of these high-risk businesses, and for this, you need a reliable partner. Get insights on how Quidax empowers businesses like yours with fast, secure, and private crypto settlements from anywhere in the world! Learn more here https://bit.ly/3HtUwcb  #CryptoRevolution #PaymentSolutions #QuidaxForInstitutions

If you find yourself asking, “what happened in crypto this week,” we've got you covered! Check out the Decential Digest for all things Uniswap Labs vs. SEC, Tensor Labs’ airdrop, and so much more!

Layer 2 rollup technology on Ethereum is experiencing growth in user adoption and practical utility, positioning itself at the forefront of Web3. Despite recent skepticism surrounding L2 tokens like Optimism's OP, criticisms are based on present circumstances rather than future potential. To understand how L2 tokens may accrue value, it's essential to grasp the Layer 2 platform business model. Rollup tech providers act as resellers of blockspace, generating revenue from transaction fees and miner/maximal extractable value (MEV). Optimism and Arbitrum represent contrasting approaches to MEV, with Optimism pursuing an offensive strategy and Arbitrum adopting a defensive stance. Offensive MEV strategies aim to capture and redistribute MEV revenue, potentially benefiting token holders in the long run. Decentralizing the sequencer represents a crucial step in maximizing censorship resistance for L2 platforms. Token staking mechanisms can facilitate sequencer decentralization, creating additional utility and demand for L2 tokens. Looking ahead, L2 tokens are expected to evolve in usage and value accrual strategies. While specifics remain uncertain, investors should assess each L2 platform's approach to value accrual and anticipate future tokenomics developments. Ultimately, L2 tokens are likely to undergo significant changes, and savvy investors should position themselves accordingly for the future landscape. #crypto #web3 #ethereum https://lnkd.in/gy8iYQcp

💡 YieldFest isn’t over yet, and we’ve got more exciting news to share. Hyperdrive is integrating two additional yield sources today: Morpho’s wSTETH/USDC and ether.fi’s eETH. That means users can now access new yields and pursue more of the strategies they want. Visit Hyperdrive today to see how you can leverage these new yield sources on your DeFi journey. For a deeper dive into the details, check out our latest blog post: https://lnkd.in/eXSEVgs4 #DeFi #Crypto #Hyperdrive #eETH #wSTETH #USDC

💎 Paradisers, focus on #SNXUSDT, showcasing signs of bullish momentum from its support zone. 💎 #Synthetix recently hit a bump at $4.178, causing a minor pullback. Yet, as it approaches a former resistance now turned support at $3.875, staying strong at this level could boost its chances for a bullish push towards and potentially beyond the resistance once again. 💎 The dynamic crypto market demands strategy flexibility. Should $SNX struggle at this vital support, shifting gears might be necessary. Ready for a bounce back from the significant support at $6.327, but beware, slipping below this essential marker may signal a deeper bearish shift. https://lnkd.in/ehX39zhS

#Eigenlayer: Where does the yield come from (what's the point)? #Eigenlayer is the hottest new protocol in town with around 10B USD in total value locked. #A16z recently invested $100M USD, bringing the total funding to $165M USD at a valuation of $500M. When talking about #Eigenlayer, we have to differentiate two main topics: ▶ What are the risks coming with restaking? ▶ Where Does the yield come from? In this post, I want to dig deeper into the second question. Where does the yield come from? The truth is: we don't know right now, because Eigenlayer isn't even live yet. So the actual yield only consists of the Ethereum Staking Yield, which is around 3-4%. The only thing you currently get on top of the yield are points for a potential airdrop. So the hype is currently about speculating on a token launch and getting an airdrop (the airdrop is estimate at around 1-2 billion USD valuation). So, these points are useless (until they're not). Okay, enough talking about points. The yield from EigenLayer can come from several sources: ▶ Efficiency & Cost Reduction: AVS implementations like EigenDA aim to lower transaction fees and boost data transfer rates on Ethereum. This efficiency can translate into direct yield for users through savings. ▶ Second Layer of Yield: EigenLayer's networks, including EigenDA, introduce a new yield layer for token holders, enhancing performance and possibly offering rewards for network participation or liquidity provision. ▶ Liquid Restaking Tokens (LRTs): Despite EigenLayer not directly offering liquid restaking, its ecosystem is ripe for LRT protocols. This allows users to earn yield on staked tokens that remain liquid for use in other DeFi applications. ▶ Collateralized Debt Positions (CDPs): Upcoming solutions like the Davos Protocol's LRT CDPs enable users to use their staked assets as collateral for borrowing, opening up further DeFi yield-earning possibilities. ▶ Incentives by new protocols that are building on top of. We saw this in DeFi Summer, where projects offered a high yield in native tokens. This yield only consists of inflation and is risky, speculative and not sustainable. EigenLayer's offers diverse avenues for yield, from operational efficiencies to  engaging in new DeFi protocols. However, it remains to be seen how high and sustainable the yield will be. #Eigenlayer #Ethereum #A16z #DeFi #Staking #LiquidStaking #Restaking

The story of how I spent 2 hours trying to sell a crypto-token. A couple of years ago I was speaking with my friend Roy Meirom about a cool web3 company called Immutable. It didn’t fit our investment strategy at Aleph but I liked the vision and decided to buy some of its #IMX tokens. Fast forward to the present. We’re approaching December and I’ve been thinking about capital gains. Looking at my portfolio, I noticed #IMX is actually at a loss and figured it would be a good opportunity to convert these tokens back to #ETH. I wanted to consolidate my crypto assets in fewer blue-chip tokens, and by converting the tokens, I would be able to document a $1,000 capital loss against other cap gains for tax efficiency. Simple enough? Think again. You see, my #IMX tokens are held in a hardware wallet called Ledger. I could technically convert them to #ETH on Ledger, but the hidden commissions are very high. Not gonna happen. My next idea was using a CEX like #Kraken - but it only supported IMX/USD, and would require an extra trade to then convert USD/ETH. Two trades, double the commission, no thank you. Then realization hit me - I still have some #ETH on my old MetaMask wallet that’s connected to my browser. I could just send my #IMX tokens to my MetaMask, convert them to #ETH using a DEX service like Uniswap and then send everything including the leftover #ETH to my Ledger. Planning stage complete, now to execution. I booted my Ledger ready for action but had to spend the next 15 minutes waiting for a firmware update to install. The update was successful - but wait! There’s another firmware update requiring another 15 minutes. You gotta love technology. So about an hour later I had my Ledger up-to-date, my Metamask ready to fire and it was just a matter of sending some tokens, converting to #ETH and sending them back. I had to copy a bunch of crypto addresses along the way and triple-check everything to be safe, but at least it worked. All done? Wait. I still needed to document these transactions for my end-of-year tax filings. Unfortunately web3 services still operate in a parallel reality where tax doesn’t exist, so it’s a process of manually logging transactions and prices with reference to on-chain IDs. I used Etherscan for that. Long story short - I got my #ETH and minimized my tax burden by a few $$$, but had to spend two hours doing something that should’ve taken 5 minutes. Was it worth it? I’m not sure.

Uniswap Labs has rolled out its v2 across 6 new chains - Arbitrum, Optimism, Base, Polygon, BNB Chain, & Avalanche Here’s why this is a major change While we're all eagerly waiting for v4's debut later this year, I feel this v2 expansion is a masterstroke in simplicity and accessibility 🎲 Why go back to v2, you ask? It's all about giving users the choice between the straightforward v2 and the feature-rich v3. Plus, v2's simpler code means lower costs for swaps and liquidity provision. It's like choosing between a manual and an automatic car; both get you places, but the experience differs. 🚗💨 Despite the anticipation for v4, Uniswap's v2 remains a beloved choice, especially for launching new tokens. It's a testament to Uniswap's enduring appeal and its pivotal role in the DeFi world #defi #blockchain #crypto