Time off <> Time On

I’m in VT with my family this week. I made the mistake of working on Monday when the move would have been switching my OOO on for the week. It’s not that I wasn’t productive Monday; I cranked through multiple projects that needed a boost. I should have taken the opportunity to turn time off into time on.

Yesterday = time on. It was a big day of Layer 2 learnings.

  • Over the Bridge: Once you move $$$ in Layer 2, it’s an awesomely inexpensive test ground. I swapped MATIC for DAI on Polygon and then made the mistake of bridging the DAI to Ethereum, thinking this could be a way to avoid gas. This didn’t work because the gas fees to add the DAI to Ethereum were 5x the value of DAI. My small amount DAI will be sitting in limbo between Polygon <> Ethereum until gas fees come down (will this ever happen).

    • I also deposited ETH to the Optimism Gateway. Fees are almost non-existent on OE, but there’s not much you can do other than swap and hold. I’m Optimistic.

  • Fiat to Polygon: I signed up for a Dharma Wallet to skip the Layer 1 gas. Connected it to my checking account and should have more $$$ to learn with in 6 days.

  • Aave: This is a great platform for learning. The team has built an accessible tool perfect for a n00b like me. The arbitrage opportunity here almost seems to easy. Deposit MATIC > Borrow MATIC (2.2% APY) for leverage > Swap MATIC to DAI (6.12% APY). Am I doing this right?

  • Hardware: I bought a Ledger Nano S. After getting scammed, I need to feel more secure. Hoping this will be an answer.

  • $SAND = 🚀: This is a fun ride. I’m up 2.5x on my $SAND holdings in less than 7 days. HODL.

  • Reading List:

    • I dig @Shortshoward’s writing style. His NFT Value Investing Philosophy post is $$$. These are the gems:

      • ‘NFTs as less art and more like fashion — grass-roots adoption, niche communities and subcultures allowing for mixing and matching.’

      • NFT Value comes from

        • Scarcity (land grab)

        • Ownership (identity/brand)

        • Influence (social media/marketing)

        • Hype (WallStreetBets/Gamestop)

        • Fungibility (Pak NFTs only, for now)

        • Innovation

    • To say a16z’s DAO Cannon is robust is an understatement. I read the first 4 recommendations, which doesn’t even scratch the surface of this awesome resource.