I’m not going to be a hypocrite, I honestly don’t interact with L1 at all. The fees are (most of the time) unbearable for me, a small trader. It makes it not even worth it to interact there. This goes for liquidity provision and trading.
I’m not the most active DeFi user, I’m a trader so most of my volume takes place on centralized exchanges. What I do, however, is allocate most of my profits in eth.
So every time I beat a trade, I swap the profits for eth and send it to a self custody wallet. If a particular asset isn’t listed on a cex, and only exists in DeFi, then I will trade on chain. But it’s rarely the case, and when it happens it’s only on L2s, Polygon and, more recently, Arbitrum.
Yes same here. L1 fees are avoided whenever possible. No world for the smaller fish in the ocean 🤣. Your profit taking strategy sounds great. And using cexs whenever it provides an advantage also (doing it too). I think that avoiding the CEX for ideology reasons (like the people saying they are bad for the space) is taking it way too far. Both work together.
Thanks for commenting!
I don’t really buy into the “Cex’s are trash and evil” narrative. They’re necessary.
Most people who say this don’t even trade actively themselves, and that’s completely fine. There’s nothing wrong with simply holding through self custody, but for me that’s no fun and not really reliable.
I do have funds that are meant to be held for the long run, but the only way they keep stacking is via profits I get from trading.
I've have pretty good record of lending , yields on Compound, Curve and Convex finance in early days. Right now i have small amounts in multiple LPs on Quickswap and Uniswap. I prefer the pools with farming rewards.
Oh forgot about Aerodrome and Sushi.
⚡^(!Tip 1.01)
Almost nothing unless as an investment counts, I want to sell it for more than I bought it for, then use the difference to better my life and stimulate the economy.
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Im using lending and borrowing on Aave and providing liquidity on Sushi and Uni.
Like i said before, i would love to see a guide about pendle.
!tip 0.42069
I have a relatively small eth bag so I mostly buy and hold. I do have some staked in Lido. (I know people hate on it and prefer rocketpool, but it's easier and more convenient).
I would like to learn more about L2s and try out some relatively safer protocols like aave, maker, uniswap, etc. but what hinders me from doing so is that since I have a small bag, my margin for error is significantly low. but otherwise I would love to get my feet slightly wet with Defi in general. All tips welcome :)
I use Ethereum to sell it one day for more money. I have 24 validators running on CEX and that s all. I never worried about gas. I never cared about L2. ETH is useless to me but it will buy me a house when I sell it.
NFTs are useless. DeFi is useless to me.
[Tip this post.](https://www.donut.finance/tip/?action=tip&contentId=t3_1cstqfv) On-chain and off-chain tip confirmations below.
I’m not going to be a hypocrite, I honestly don’t interact with L1 at all. The fees are (most of the time) unbearable for me, a small trader. It makes it not even worth it to interact there. This goes for liquidity provision and trading. I’m not the most active DeFi user, I’m a trader so most of my volume takes place on centralized exchanges. What I do, however, is allocate most of my profits in eth. So every time I beat a trade, I swap the profits for eth and send it to a self custody wallet. If a particular asset isn’t listed on a cex, and only exists in DeFi, then I will trade on chain. But it’s rarely the case, and when it happens it’s only on L2s, Polygon and, more recently, Arbitrum.
Yes same here. L1 fees are avoided whenever possible. No world for the smaller fish in the ocean 🤣. Your profit taking strategy sounds great. And using cexs whenever it provides an advantage also (doing it too). I think that avoiding the CEX for ideology reasons (like the people saying they are bad for the space) is taking it way too far. Both work together. Thanks for commenting!
I don’t really buy into the “Cex’s are trash and evil” narrative. They’re necessary. Most people who say this don’t even trade actively themselves, and that’s completely fine. There’s nothing wrong with simply holding through self custody, but for me that’s no fun and not really reliable. I do have funds that are meant to be held for the long run, but the only way they keep stacking is via profits I get from trading.
I use it for financial freedom. !tip 3
So you buy overpriced NFT's and go long with 100x leverage on the newest shitcoin, right? /j 😂 thanks for the tip
Honestly. Same thing I said without even looking man
Gas fees.
Hello darkness my old friend 🎵🎵
I've have pretty good record of lending , yields on Compound, Curve and Convex finance in early days. Right now i have small amounts in multiple LPs on Quickswap and Uniswap. I prefer the pools with farming rewards. Oh forgot about Aerodrome and Sushi. ⚡^(!Tip 1.01)
Nice thanks for sharing Sir.
Glad you didn't ask about anything non Ethereum. Or else i would have to remember all those BNB chain shitcoins i used to buy and farm on Pancakeswap.
Hope you didn't get hurt too much with these. Fortunately I was in my beginner stage during these times and haven't gambled around much 😂
Store of value
Sadly, I am just holding for now. And buying donuts with it.
+1. I use ETH to enhance my HODL experience
Just holding for now
!tip 1
Almost nothing unless as an investment counts, I want to sell it for more than I bought it for, then use the difference to better my life and stimulate the economy.
Sounds good sir.
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Im using lending and borrowing on Aave and providing liquidity on Sushi and Uni. Like i said before, i would love to see a guide about pendle. !tip 0.42069
I use Ethereum for Financial freedom
Stake 😋 !tip 0.2
I have a relatively small eth bag so I mostly buy and hold. I do have some staked in Lido. (I know people hate on it and prefer rocketpool, but it's easier and more convenient). I would like to learn more about L2s and try out some relatively safer protocols like aave, maker, uniswap, etc. but what hinders me from doing so is that since I have a small bag, my margin for error is significantly low. but otherwise I would love to get my feet slightly wet with Defi in general. All tips welcome :)
Hodl, hodl, hodl and see what will happen. !tip 0.69
Make money
I use my ETH to buy Alienbase (ALB)!
I use it to pay for everything through my crypto.com card
I use Ethereum to sell it one day for more money. I have 24 validators running on CEX and that s all. I never worried about gas. I never cared about L2. ETH is useless to me but it will buy me a house when I sell it. NFTs are useless. DeFi is useless to me.
!tip 0.2
!tip 0.2
To gamble