# Danang Defi Study Group – week #23

**Published by:** [David Ryan](https://paragraph.com/@drcoder/)
**Published on:** 2022-11-02
**URL:** https://paragraph.com/@drcoder/danang-defi-study-group-week-23

## Content

9:30am, Weds 2nd Nov 2022, Draper Startup House My Khe Beach, Danang, Vietnam Key Words: Passive Income, Wealth Preservation, Meetups and Conferences, Art, Social, Achievement NFTs We have a new Discord server which will likely take over from the Slack! Here is the invite: https://discord.gg/E8MNGhUfRQ This week’s contentsIntroductionsStaking and Passive IncomeContributors needed for Danang blockchain projectsNeed a new Danang meetup!Ethereum Hackathons and ConferencesWealth preservation in difficult timesCan you burn physical art into digital NFTs?Monetising life events via NFTs – Life Logging, Lens ProtocolTry out Defi protocols, and get free NFTs for achievementsPOAP claimMirrorGlossaryIntroductions Went round the group, made brief introductions, asked if anyone has questions today, or topics to discuss? There were questions about staking and passive income. Staking and Passive Income Dan was with us, he is a content creator on YouTube focusing on passive income. Channel name is DanPassiveIncomeMicrocaps: www.youtube.com/c/DanPassiveIncomeMicrocaps We discussed potential passive income sources (this section is not financial advice, please do your own further research):David - Staking Ethereum on a Dappnode (32 ETH returns approx 5% per year)Dan - Optimus – Rebasing token - 1% per day - this is high risk, degen even!https://www.coingecko.com/en/coins/optimus-opt3/usd#panel Other members:Staking ETH with Lido, Curve, Convex (Curve LP with ETH/STETH, stake it on Convex, 7% on Ethereum mainnet)Staking USDC on Pool Together which is available on Eth Mainnet (expensive), Optimism & Arbitrum (cheaper), Polygon (cheap)Centralised exchanges (beware - not your keys, not your tokens!)Liquidity positions on Uniswap or other AMMs (beware impermanent loss!)Hive Blockchain - delegate HIVE power - get back 12 HIVE per dayContributors needed for Danang blockchain projects The City of Danang wants to create an NFT for tourists, like the Bali Boys (Ilya) NFT project for Bali. They may be looking for people to work on this. Duy Tan University will be launching a cyber information safety training program, they may be looking for speakers. Need a new Danang meetup! This Defi Study group will come to an end next week (9th Nov) since we will not have anyone available to lead it any more. Alternative options for meetups in Danang:Those who come on Wednesday can still do a lunch meetup and chat about blockchain. We now have a Discord group to help organise this.Can we run monthly web3 events? Potential locations:Esco BarSection 30LANG3Pama HotelGo to Digital Nomads meetup every fortnight at My Casa restaurant: https://www.facebook.com/groups/digitalnomadsindanang/eventsEthereum Hackathons and Conferences If you are interested, please sign up ASAP to ETH Vietnam conference, and Sozu Haus hackathon. Details below. Sozu Haus – Hackathon 15-22 Nov, in Hoi An, Vietnam. Twitter and Registration Form: https://mobile.twitter.com/sozuhaus https://lu.ma/sozuvietnam ETH Vietnam conference, 25-27 Nov in HCMC. Hackathons both before and during the event: https://www.eth-vietnam.com/ Devcon 7 – Ethereum conference in 2023. Yesterday was the deadline for deciding location. Nha Trang, Vietnam still doing well: https://twitter.com/EFDevcon/status/1587086922073227264 Wealth preservation in difficult times Question from attendee: “What are the best ways of protecting your wealth during times of economic downturn, inflation, war, and climate change?”. We focused in particular on the event of a destructive war, which may be the worst case scenario. Some opinions discussed from those present:AssetsCrypto - ETH + yield, also BTC – as long as digital devices are functional and networked – as long as the internet is still working.FarmlandRental property (risk of property rights not being respected)Gold and jewellery (risk of being seized)Food (rice, products with long shelf life)Keep some in cash, USD and a few more large currencies. Ideally with yield (bank / blockchain). VND can get 8.4% per year. But this is with smaller banks who have smaller balance sheets and more risk. Timo – is a bank app - lock VND for 18 months for 5%+ APRPremium alcohol! High end whisky, fine art (can be difficult to find a buyer)$300,000 Hermes handbag for walking wealth across a borderGeneral tipsDiversificationOnly invest what you’re willing to loseInvest into good peopleGet a Starlink, Iridium satellite phone, prepaid, data plan, make sure internet is “always on”Be first aid trainedMove to South America.Get multiple citizenships. Research your heritage, see what you are already eligible for. Popular choices:TurkeyArgentinaSome small island nation passports can be bought via investmentsGibraltarMentioned the macro commentator Peter Zeihan and his YouTube channel “Peter Zeihan on Geopolitics”, channel name ZeihanonGeopolitics: www.youtube.com/c/ZeihanonGeopolitics Can you burn physical art into digital NFTs? Damian Hirst has burned $10M of artworks to “turn them into NFTs”. Group discussed whether this is a good idea, and whether digital art has the same value as the physical art which it represents, and which was destroyed in the process? https://www.bbc.com/news/entertainment-arts-63218704 We also talked about Tascha’s Destroyed Diamond NFT, and whether the NFT of a diamond holds the same value as the original diamond itself. Although Tascha bought the diamond for $5k and sold the NFT for around $11k, which appears to vindicate her thesis that the value of the diamond transfers to the NFT, was this really due to the inherent value inside the NFT, or the hype and publicity surrounding this stunt? https://opensea.io/assets/ethereum/0x2a9e4045185c8d778b85610ca96d79bd8ecdc720/1 Monetising life events via NFTs – Life Logging, Lens Protocol We talked about Life Logging, where you make NFTs of everyday events. A good example of this is Ghozali Everyday NFTs, where Ghozali took a selfie every day and sold it as an NFT: https://opensea.io/collection/ghozali-everyday One of the best solutions for creating NFTs from everyday events is Lens Protocol. It is the backbone of many web3 social media apps, where the user owns their own data, and data is interoperable across all the protocols. https://www.lens.xyz/ Try out Defi protocols, and get free NFTs for achievements If you use any of the 3 sites below, you will receive an excellent education in how to use recent Defi apps, you will get NFTs representing these achievements, and those NFTs might be your entry badge into future high-value communities, or even airdrops. Highly recommended to check these out and gain many of the NFTs! Layer 3 bounties: https://beta.layer3.xyz/bounties Galxe Campaigns: https://galxe.com/campaigns Optimism Quests: https://app.optimism.io/quests POAP claim Claim a free NFT on the Gnosis chain for attending this event. You can also download the POAP app for your phone. Here is a sample claim link: https://app.poap.xyz/claim/189sq9 Mirror Each week we publish the meeting notes in a web3 native way using Mirror! Glossary POAP – Proof Of Attendance Protocol, free NFT on Gnosis chain for attending an event OAT - Galxe OAT is similar to POAP, it is a light-weight badge standard designed for event organizers to distribute NFT badges on Polygon chain AMM - Automatic Market Maker - holds 2 different digital assets, allowing trading in either direction on the pair - prototypical example is Uniswap NFT - Non Fungible Token - token on a blockchain representing a unique digital asset

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