BoostBeyond Hype: Understanding the Impact of Airdrops on NFT Marketplace Performance
IntroductionThe NFT marketplace is evolving. Over the past year, OpenSea has seen increasing pressure from new competitors eating away at its market share. LooksRare, X2Y2, Sudoswap, and Blur have decreased OpenSea's NFT Volume market share from 99% to 50-30% depending on the week.Market Share for NFT Marketplaces by WeekWhile OpenSea may have been one of the darling companies of the web3 era, there is one thing that it's lacking that all of its competitors have: a token. This left ...
BoostAirdrop Design | Past, Present, & Future
When considering the future of airdrops, it's easy to feel optimistic about their potential for aligning users of crypto networks. It’s just as valid to express skepticism based on the current state of the instrument. While it's clear that more experimentation is necessary in order to properly harness their power, the required overhead and lack of tooling to execute airdrops are prohibitive. But what are they, anyway?What is an Airdrop?Simply put, airdrops distribute tokens to past,...
BoostIntroducing Quest Protocol Rewards
Deploy, refer, and complete quests for cryptoParticipation lies at the heart of the crypto ecosystem. It’s the collective effort of countless participants worldwide that ensures the functionality, security, and growth of decentralized protocols. But beyond it being a mechanism for sustaining networks, participation embodies the very ethos of crypto and why it exists - to increase economic opportunities for every individual. Earlier this year we launched Quest Protocol, making it easy for anyo...
The onchain distribution network of Boost Protocol. Target, acquire and engage users with token incentives to drive growth.
BoostBeyond Hype: Understanding the Impact of Airdrops on NFT Marketplace Performance
IntroductionThe NFT marketplace is evolving. Over the past year, OpenSea has seen increasing pressure from new competitors eating away at its market share. LooksRare, X2Y2, Sudoswap, and Blur have decreased OpenSea's NFT Volume market share from 99% to 50-30% depending on the week.Market Share for NFT Marketplaces by WeekWhile OpenSea may have been one of the darling companies of the web3 era, there is one thing that it's lacking that all of its competitors have: a token. This left ...
BoostAirdrop Design | Past, Present, & Future
When considering the future of airdrops, it's easy to feel optimistic about their potential for aligning users of crypto networks. It’s just as valid to express skepticism based on the current state of the instrument. While it's clear that more experimentation is necessary in order to properly harness their power, the required overhead and lack of tooling to execute airdrops are prohibitive. But what are they, anyway?What is an Airdrop?Simply put, airdrops distribute tokens to past,...
BoostIntroducing Quest Protocol Rewards
Deploy, refer, and complete quests for cryptoParticipation lies at the heart of the crypto ecosystem. It’s the collective effort of countless participants worldwide that ensures the functionality, security, and growth of decentralized protocols. But beyond it being a mechanism for sustaining networks, participation embodies the very ethos of crypto and why it exists - to increase economic opportunities for every individual. Earlier this year we launched Quest Protocol, making it easy for anyo...
The onchain distribution network of Boost Protocol. Target, acquire and engage users with token incentives to drive growth.
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Crypto derivatives are not for the faint of heart, but they can amplify your investments' reach if properly leveraged.
Today, we'll be exploring a more advanced task for our hardened traders, as a way to show some of you the value behind participating in decentralized ecosystems beyond pure speculation.
For this quest, we'll be depositing 500 USDC in the dYdX trading platform. This is the first step to trading on dYdX.
In this article, you’ll learn:
What is dYdX?
What does trading on derivatives mean?
How to deposit USDC into the dYdX trading platform.
In order to complete this task, you’ll need the following:
An Ethereum wallet, such as MetaMask.
ETH in your wallet, for gas fees.
At least 500 USDC to deposit in the trading platform.
It’s important to note that dYdX isn't available to US citizens, so this quest will be exclusively available to our quest rabbits overseas.
We've got a few guides that might be useful on our RabbitHole Learn Hub. If you want to learn more about what DeFi is, and the difference between a CEX and DEX; hop on over there to learn more!
dYdX specializes in an often overlooked area of finance known as Derivatives, or more specifically, perpetuals. What they enable you to do is essentially to hedge your beliefs on where the market might be going in a certain time period. If you believe ETH will go up, you can signal that position and reap the rewards, and the same applies to the opposite.
Derivatives are often Centralized Exchanges' domain, as there's a lot of regulation on who can provide these services to you. By decentralizing this mechanism through their protocol and token, dYdX allows you to take advantage of this advanced finance technique, without worrying about institutional manipulation.
That's exactly why this platform isn't available to US citizens, as their regulation prohibits “unverified parties” from offering this service. By taking the DEX (decentralized exchange) route to derivatives, dYdX puts yet another tool at your disposal if you have the know-how to wield it.
When you're ready to deposit your fund into the exchange, just head over to dydx.exchange and enter the app, make sure your wallet is connected to the Ethereum Network.
When you're in the dashboard, go ahead and connect your wallet. You'll have to verify ownership of your wallet with a signature, as well as enabling trading. Remember, dYdX is not available to US citizens.
After you've connected your wallet, all you need to do is click on the “Deposit” button, approve USDC trading, and deposit your funds.
Keep in mind, whenever you're planning on withdrawing your investment, you'll be able to pick between a “fast withdrawal” and a slow one.
The difference between the two is the processing time, and how transaction costs are calculated. The fast withdrawal method charges a gas estimate to offer you a quicker way of claiming your funds, while the slow one will submit the transaction and have you pay its gas fee. Sometimes, opting for the slow withdrawal can end up being the smarter choice if you want to save on gas fees.
If you’re interested in saving up even more on gas fees, dYdX offers you gasless transactions when depositing and handling more than 500 USD on their platform for the first time. Volume does matter when you’re trying to boost your gains.
Once your deposit is verified, it's time to get trading! Remember to always DYOR, especially when we're talking derivatives. This operation is mostly for the advanced users who have a strong grasp on the markets (and can afford to risk the volatility).
Having completed this advanced operation, we're confident in you knowing your fair share of the ins and outs of DeFi. But have you gotten your credentials to back that up? If you haven't already, now's your chance to complete our DeFi skills to participate in our upcoming quests!
Until next time Quest Rabbit.
Crypto derivatives are not for the faint of heart, but they can amplify your investments' reach if properly leveraged.
Today, we'll be exploring a more advanced task for our hardened traders, as a way to show some of you the value behind participating in decentralized ecosystems beyond pure speculation.
For this quest, we'll be depositing 500 USDC in the dYdX trading platform. This is the first step to trading on dYdX.
In this article, you’ll learn:
What is dYdX?
What does trading on derivatives mean?
How to deposit USDC into the dYdX trading platform.
In order to complete this task, you’ll need the following:
An Ethereum wallet, such as MetaMask.
ETH in your wallet, for gas fees.
At least 500 USDC to deposit in the trading platform.
It’s important to note that dYdX isn't available to US citizens, so this quest will be exclusively available to our quest rabbits overseas.
We've got a few guides that might be useful on our RabbitHole Learn Hub. If you want to learn more about what DeFi is, and the difference between a CEX and DEX; hop on over there to learn more!
dYdX specializes in an often overlooked area of finance known as Derivatives, or more specifically, perpetuals. What they enable you to do is essentially to hedge your beliefs on where the market might be going in a certain time period. If you believe ETH will go up, you can signal that position and reap the rewards, and the same applies to the opposite.
Derivatives are often Centralized Exchanges' domain, as there's a lot of regulation on who can provide these services to you. By decentralizing this mechanism through their protocol and token, dYdX allows you to take advantage of this advanced finance technique, without worrying about institutional manipulation.
That's exactly why this platform isn't available to US citizens, as their regulation prohibits “unverified parties” from offering this service. By taking the DEX (decentralized exchange) route to derivatives, dYdX puts yet another tool at your disposal if you have the know-how to wield it.
When you're ready to deposit your fund into the exchange, just head over to dydx.exchange and enter the app, make sure your wallet is connected to the Ethereum Network.
When you're in the dashboard, go ahead and connect your wallet. You'll have to verify ownership of your wallet with a signature, as well as enabling trading. Remember, dYdX is not available to US citizens.
After you've connected your wallet, all you need to do is click on the “Deposit” button, approve USDC trading, and deposit your funds.
Keep in mind, whenever you're planning on withdrawing your investment, you'll be able to pick between a “fast withdrawal” and a slow one.
The difference between the two is the processing time, and how transaction costs are calculated. The fast withdrawal method charges a gas estimate to offer you a quicker way of claiming your funds, while the slow one will submit the transaction and have you pay its gas fee. Sometimes, opting for the slow withdrawal can end up being the smarter choice if you want to save on gas fees.
If you’re interested in saving up even more on gas fees, dYdX offers you gasless transactions when depositing and handling more than 500 USD on their platform for the first time. Volume does matter when you’re trying to boost your gains.
Once your deposit is verified, it's time to get trading! Remember to always DYOR, especially when we're talking derivatives. This operation is mostly for the advanced users who have a strong grasp on the markets (and can afford to risk the volatility).
Having completed this advanced operation, we're confident in you knowing your fair share of the ins and outs of DeFi. But have you gotten your credentials to back that up? If you haven't already, now's your chance to complete our DeFi skills to participate in our upcoming quests!
Until next time Quest Rabbit.
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