brianwalden Posted November 10, 2021 Author Share Posted November 10, 2021 1 minute ago, CryptoOwl said: Thats interesting, OlympusDAO team is looking for official fork into AVAX. Isn't that quite strange considering AVAX already has Wonderland that is sponsored by the same people behind MIM/Acrabadabra? Competition ahead? Competition is good. I just came across this article that's explains a little bit of what the Olympus model accomplishes from a developer's perspective: https://www.loop.markets/farming-re-imagined-loop-nft-lp-bond-marketplace/ I don't know if this makes things more or less confusing. Link to comment Share on other sites More sharing options...
CryptoOwl Posted November 10, 2021 Share Posted November 10, 2021 14 minutes ago, brianwalden said: Competition is good. I just came across this article that's explains a little bit of what the Olympus model accomplishes from a developer's perspective: https://www.loop.markets/farming-re-imagined-loop-nft-lp-bond-marketplace/ I don't know if this makes things more or less confusing. Protocols owning their own liquidity and earning fees from all transactions, does make a lot of sense to justify where the rewards are actually coming from. I did read the FAQ from OlympusDAO: https://docs.olympusdao.finance/main/basics/basics And in some strange way, it is starting to make sense 🤔 Brainwash complete? 😂 brianwalden 1 Link to comment Share on other sites More sharing options...
CryptoOwl Posted November 10, 2021 Share Posted November 10, 2021 I bought some TIME 😎 Let's see how this lotto ticket plays out 😜 brianwalden 1 Link to comment Share on other sites More sharing options...
CryptoOwl Posted November 11, 2021 Share Posted November 11, 2021 https://docs.wonderland.money/partnerships/abracadabra Sounds like a great idea! Leverage FTW! Link to comment Share on other sites More sharing options...
CryptoOwl Posted November 11, 2021 Share Posted November 11, 2021 https://www.okex.com/academy/en/olympusdao-protocol-owned-liquidity-defi-reserve-currency-ohm Worth the read IMHO, explains many questions I had. For example treasury management and how treasury actually turns profit from minting assets. brianwalden 1 Link to comment Share on other sites More sharing options...
Krypto Posted November 12, 2021 Share Posted November 12, 2021 Hi @brianwalden im now staking time do you need to unstake regularly to get the MEMO converted to time? otherwise how do you benefit from the compounding effect, unless are they also staking the MEMO once it’s generated? Link to comment Share on other sites More sharing options...
Krypto Posted November 12, 2021 Share Posted November 12, 2021 44 minutes ago, Krypto said: Hi @brianwalden im now staking time do you need to unstake regularly to get the MEMO converted to time? otherwise how do you benefit from the compounding effect, unless are they also staking the MEMO once it’s generated? Actually it looks as if I wasn’t staking time, don’t think I had enough Avax for the gas the first time but I am now, and now that I am I’m guessing that it’s the memo that the compounding is applied against as your time is effectively converted to MEMO once it’s staked Link to comment Share on other sites More sharing options...
brianwalden Posted November 12, 2021 Author Share Posted November 12, 2021 1 hour ago, Krypto said: Hi @brianwalden im now staking time do you need to unstake regularly to get the MEMO converted to time? otherwise how do you benefit from the compounding effect, unless are they also staking the MEMO once it’s generated? When you stake, you earn more MEMO every 8ish hours. When you unstake, MEMO get converted 1 to 1 back to TIME. Link to comment Share on other sites More sharing options...
brianwalden Posted November 12, 2021 Author Share Posted November 12, 2021 48 minutes ago, Krypto said: Actually it looks as if I wasn’t staking time, don’t think I had enough Avax for the gas the first time but I am now, and now that I am I’m guessing that it’s the memo that the compounding is applied against as your time is effectively converted to MEMO once it’s staked Oh, I think I know what happened. On EVM-based blockchains the first time a Smart contract interacts with a coin in your wallet you need to give them permission first. The first transaction was actually just you giving them the approval to allow transactions between the smart contract and your wallet. You had to do the second transaction to actually stake it. Luckily this is only a one time thing, you won't have to do it again. It's all very confusing. Krypto 1 Link to comment Share on other sites More sharing options...
brianwalden Posted November 18, 2021 Author Share Posted November 18, 2021 @djdhrubs's strategy of selling a quarter of his OHM every few months inspired me to come up with my own strategy. Compounding is kind of like the opposite of a radioactive half life. If the rate stays constant, one you figure out how long it takes for your funds to double, they'll keep doubling at that same rate. So I like to think in terms of these doubling cycles. My plan is simple, every time my staked funds double, I'm going to sell 10%. One optional beginning is the first time they double, take out your original principle to make sure you won't lose anything, then start the 10% strategy from there. So if I start with 1 unit, when I have 2 units I'm going to sell 0.2. If you want to save up to 2.2 units before you sell the 0.2, that's fine. Then when it doubles again to 4 units, you sell 0.4. When you have 8 units you sell 0.8. at 16, sell 1.6. And so on. You can base this either on your number of staked coins or your overall dollar value. It's not a science, more of a guideline that you can adjust to fit your needs. djdhrubs and Kiwi 1 1 Link to comment Share on other sites More sharing options...
brianwalden Posted January 27, 2022 Author Share Posted January 27, 2022 Holy crap guys. I'm so sorry for shilling TIME. Link to comment Share on other sites More sharing options...
BillyOckham Posted January 27, 2022 Share Posted January 27, 2022 7 hours ago, brianwalden said: Holy crap guys. I'm so sorry for shilling TIME. As others have said elsewhere…. not your fault mate. Adults make their own choices. No sensible person holds you even slightly responsible for their own actions. Keep sharing things as you see them, you are a smart person and have helped many. Be a shame if you stopped because one thing went bad. But maybe consider doing a token gesture like refunding all losses to just one person (me!)? Link to comment Share on other sites More sharing options...
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