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...
Share Dialog
Share Dialog
The onchain distribution network of Boost Protocol. Target, acquire and engage users with token incentives to drive growth.
Subscribe to Boost
Subscribe to Boost
>460K subscribers
>460K subscribers
Alchemix lets you take out loans against Ethereum and/or DAI that repay themselves over time. Using synthetic tokens native to the protocol & backed by future yield, users can deposit ETH or DAI to mint alETH or alUSD, which can be borrowed and used however you want.
How do the loans repay themselves? When you deposit collateral into Alchemix, it starts generating yield immediately from Yearn Finance vaults. The yield earned on your collateral is then used to pay off the loan you took out.
While other platforms like Compound or Aave allow you to lend/borrow crypto, Alchemix sets itself apart by paying back your loan for you. This allows you to "set it and forget it" and never worry about liquidation.
The Alchemix dApp has 4 main parts:
Vaults
Transmuter
Farming
Treasury
For the sake of this guide, we'll discuss the basics of how to mint + borrow alETH. After minting alETH, you can swap it for other tokens, or stake it in a liquidity pool.
You can connect any WalletConnect compatible wallet, or use the MetaMask Chrome extension (recommended) to quickly sign in.
Type in the amount of ETH you want to deposit, or use the % buttons to deposit a certain % of the total amount of ETH in your wallet.
Your "wallet balance" should show the total amount of ETH in your wallet.
Your "collateral balance" should show the total amount of ETH you've deposited into the Alchemix smart contract, which will be used as collateral for the loans you take out.
"Available to withdraw" shows the amount of ETH you can withdraw while still maintaining a <25% loan to value ratio.
"ETH APY" shows the Annual Percentage Yield your deposited ETH will earn via yearn.finance vaults. You don't have to do anything to begin earning this APY — Alchemix will take care of it for you. The yield generated from these vaults will then be harvested & used to pay down the global debt in the Alchemix system, paying back everyone's loans slowly but surely.
You're able to borrow up to 25% of your deposited ETH in a synthetic ETH token called alETH. For every bit of ETH you want to borrow, an equal amount of alETH will be automatically minted.
Just as you deposited ETH into the Alchemix vault in the Deposit tab, type in the amount of alETH you want to mint/borrow in the Borrow tab, or use the % buttons.
This alETH can then be swapped for other tokens or staked in various Alchemix related liquidity pools to earn extra yield.
If you have any questions about this guide, feel free to reach out directly on Twitter @NotZachDavidson.
Alchemix lets you take out loans against Ethereum and/or DAI that repay themselves over time. Using synthetic tokens native to the protocol & backed by future yield, users can deposit ETH or DAI to mint alETH or alUSD, which can be borrowed and used however you want.
How do the loans repay themselves? When you deposit collateral into Alchemix, it starts generating yield immediately from Yearn Finance vaults. The yield earned on your collateral is then used to pay off the loan you took out.
While other platforms like Compound or Aave allow you to lend/borrow crypto, Alchemix sets itself apart by paying back your loan for you. This allows you to "set it and forget it" and never worry about liquidation.
The Alchemix dApp has 4 main parts:
Vaults
Transmuter
Farming
Treasury
For the sake of this guide, we'll discuss the basics of how to mint + borrow alETH. After minting alETH, you can swap it for other tokens, or stake it in a liquidity pool.
You can connect any WalletConnect compatible wallet, or use the MetaMask Chrome extension (recommended) to quickly sign in.
Type in the amount of ETH you want to deposit, or use the % buttons to deposit a certain % of the total amount of ETH in your wallet.
Your "wallet balance" should show the total amount of ETH in your wallet.
Your "collateral balance" should show the total amount of ETH you've deposited into the Alchemix smart contract, which will be used as collateral for the loans you take out.
"Available to withdraw" shows the amount of ETH you can withdraw while still maintaining a <25% loan to value ratio.
"ETH APY" shows the Annual Percentage Yield your deposited ETH will earn via yearn.finance vaults. You don't have to do anything to begin earning this APY — Alchemix will take care of it for you. The yield generated from these vaults will then be harvested & used to pay down the global debt in the Alchemix system, paying back everyone's loans slowly but surely.
You're able to borrow up to 25% of your deposited ETH in a synthetic ETH token called alETH. For every bit of ETH you want to borrow, an equal amount of alETH will be automatically minted.
Just as you deposited ETH into the Alchemix vault in the Deposit tab, type in the amount of alETH you want to mint/borrow in the Borrow tab, or use the % buttons.
This alETH can then be swapped for other tokens or staked in various Alchemix related liquidity pools to earn extra yield.
If you have any questions about this guide, feel free to reach out directly on Twitter @NotZachDavidson.
No activity yet