BitHappy

The performance of this on-chain liquidation is better than that of exchanges, especially in the lending aspect.

This is mainly due to the design of protocols like Ethena and AAVE, which, in order to increase TVL, encourage circular lending and fix the value of lending assets to collateral assets at a ratio of 1:1.

For instance, the circular lending of USDT and USDe on Aave previously had no liquidation risk due to the use of a fixed oracle, coupled with subsidy activities at that time, which raised the TVL by billions in just a few days.

This mechanism has also driven almost all stablecoins to be fixed at a ratio of 1:1 in the oracles of lending protocols.

Therefore, most users involved in this on-chain stablecoin circular lending have come through largely unscathed.

However, the most severe liquidation losses for USDe occurred on Binance.

On one hand, Binance launched a promotion offering 12% interest on USDe, attracting a large number of whales to participate in circular lending (resulting in almost total losses). On the other hand, USDe can also be used as contract margin.

I just saw a big shot analyze that this waterfall event was triggered by the chain reaction of USDe liquidations, but the post has already been deleted.

Latest news: Binance will compensate users affected by USDe, BNSOL, and WBETH.

Recently, River has been rising too aggressively; it's impossible not to pay attention～

Since I didn't participate earlier, I've been looking for any opportunities to get involved these past few days.

I actually found a few, as follows:

1/ Buy River Pts and convert them into locked River through the Conversion 2.0 airdrop system. Based on the current River price, the potential return could be about 15 times;

2/ Directly buy Pendle YT, wait for points to accumulate, and receive an airdrop at the end of the season, which could yield several times returns;

3/ Go to Pancake and form an LP with SatUSD/USDT, which has a 25X points bonus, with the official annualized estimate being 140+%;

After weighing various factors, I still believe the first option has the best risk-reward ratio.

On one hand, the annualized return after locking is incredibly high; on the other hand, the cost and structure of acquiring Pts are relatively simple.

For example, with a current investment of $100, you can obtain about 9,447 Pts, which can be exchanged for River at the real-time exchange rate after locking. According to official data, the same 9,447 Pts, if chosen for a 3-month lock-up period, could be exchanged for about 12.07 River;

At the current price, this part of the value is already close to a thousand U, equivalent to getting nearly 10 times returns in three months with $100. Additionally, if you are willing to wait longer, choosing a 12-month lock period could yield about 15 times potential returns～

However, it should be noted: the returns from this strategy will still be affected by price fluctuations, and with the funding rates remaining high, the method of hedging to lock in profits may not be suitable in the current environment.

But personally, I believe finding an opportunity to hedge some returns is still feasible.

The recent hype around River is clearly closely related to the $8 million strategic investment from Sun, which I believe most people are already aware of, right?

Thus, River's total strategic financing has now reached $12 million.

Additionally, while researching their rules and looking for opportunities, I found that their tokenomics has been continuously adjusted.

Wow, it’s intense; it’s that time again to see everyone getting hundreds of times returns.

Note: The above is for informational sharing only and is not investment advice; please make sure to do your own research!

DeFi Enthusiast: BitHappy

Regarding my experience eating a 1000% annualized return on USD1 yesterday～

After Binance released the USD1 incentive announcement yesterday, the market experienced a brief chaos, and the interest rates on various lending platforms soared, creating a huge arbitrage opportunity on the Bybit contract side.

Seeing the opportunity, I immediately executed the following strategy, which exceeded expectations: the price difference, which was initially expected to converge in five days, turned positive within hours due to the upward spike in the contract, directly accelerating the profit process. Due to the very short time of capital occupancy, the annualized return rate exceeded 1000%!

​➤ Core logic:

Due to the rapid widening of the basis on the USD1 contract on Bybit after the announcement, shorts had to pay a very high funding rate to longs at one point, with the annualized rate reaching as high as 106.87%.

At that time, I thought of borrowing USD1 on-chain to sell spot while going long on the contract to obtain the funding rate paid by shorts, expecting to achieve a comprehensive annualized return close to 80% after deducting the borrowing interest. The profit composition: funding rate income + basis return - borrowing interest = net profit.

However, the instantaneous and drastic return of the basis saved us several days of waiting costs, resulting in an actual annualized return rate exceeding 1000%.

​➤ Practical tutorial:

​0/ Borrow USD1 on Lista, using PT lending to offset part of the interest with implied interest rates; if unsure how to do it, you can refer to previous article tutorials;

​1/ Sell the borrowed USD1 for USDT;

​2/ Open a long position on USD1 in the Bybit contract market;

​3/ Wait for the basis to converge and close the position, keeping an eye on the funding rate;

Note: Although this is low-risk arbitrage, one must guard against the risk of insufficient margin due to the basis continuing to widen abnormally. I was lucky to encounter a "reverse spike" that accelerated the convergence; if the market moves in the opposite direction, it may require additional margin and longer wait times.

​Tip: The above is for information sharing only and not investment advice. Please be sure to do your own research!

Diligent DeFi enthusiast: BitHappy

Binance Trading Competition S2 Burning Skills ～

Last time we mentioned that the Binance chain trading competition S2 has some small tips.

Many friends are waiting for the answer.

Actually, the answer is right in the riddle, and the key is how to avoid the risk of a price drop. As long as this point is handled well, the whole gameplay will become very clear.

So this time's operation is:

Choose several tokens with contracts on the BNB chain → Buy on-chain → Open a short hedge contract → If the coin price rises → Sell and close the contract (counted as profit)

If the coin price drops, just hold until the end of the competition. Because the realized gains and losses for the rankings only count the parts that have been sold, the unsold parts will not be calculated.

By repeating the process of selecting coins → hedging → closing positions, you can continuously amplify profits until you successfully make the leaderboard.

Due to the potential rewards of the trading competition, this method is very suitable for hedge trading on Perp. Of course, it’s great to make a profit, and even if you don’t make a profit, you can still earn Perp points as a reward.

Note: The above is only information sharing and not investment advice. Please be sure to do your own research!

Diligent DeFi enthusiast: BitHappy

Tips for Amplifying USD1 Earnings Through Leverage Accounts~

According to Binance's latest activity rules for USD1, USD1 used as collateral in a leverage account can enjoy a 1.2x reward bonus.

Therefore, we can use USD1 as collateral, borrow 50% of USDT, and then deposit it into USDD to enjoy an annualized return of approximately 10.43%.

The tutorial is as follows (image):

0/ Binance app → Assets → Spot → Leverage Account (Cross Margin) → Borrowing

1/ Select USDT → Fill in the amount of USD1 45% → Click confirm

2/ Return to Leverage Account (Cross Margin) → Click Transfer

3/ Switch account order → Select USDT → Max → Confirm transfer

4/ Deposit the transferred USDT into USDD to enjoy an annualized return of 10.43%, for detailed steps see the post below: USDD 存入教程

Note: The current borrowing rate for USDT is 4.6%, yielding an approximate interest margin of 5.8%. If the USDT rate continues to rise to the point where there is no interest margin, it should be withdrawn and repaid in a timely manner.

Reminder: The above is for information sharing only and not investment advice, please be sure to do your own research!

Diligent DeFi Enthusiast: BitHappy

USD1 has finally unpegged, but it's on the upside, hahaha～

Thanks to Binance and the USD1 Spring Festival investment red envelope, I'm happy!

In simple terms, the content of the new announcement is that holding USD1 in Binance's spot account, fund account, margin account, or U-denominated contract account will earn interest weekly.

Based on the current issuance of USD1 at around 3.2 billion, even if all USD1 is in Binance, the annualized return would be around 16-17%, so the actual annualized return will be quite impressive!

However, the total amount will definitely grow, which means the annualized return will decrease.

The most important reminder is that USD1 used as collateral in contract or margin accounts will have a 1.2 times increase, 👀

The basic gameplay remains the same, see these tweets:

👉 Beginner's lending tutorial: https://www.binance.com/zh-CN/square/post/34792846616121

👉 Money-making strategies collection: https://www.binance.com/zh-CN/square/post/34141149088938

👉 Best money-making strategy: https://www.binance.com/zh-CN/square/post/34232370171273

Note: The above is for information sharing only, not investment advice, please be sure to do your own research!

DeFi enthusiasts: BitHappy

Currently, which Genius to brush has become one of the most concerning topics for everyone!\n\nFrom the current situation, the outlook is not optimistic, and there is uncertainty about whether subsequent projects can be smoothly advanced.\n\nThe accompanying image shows the pools from the two agreements I have been most concerned about these days. It can be clearly seen that after the announcement of transaction fees in the morning, the trading volume saw a significant decline, with a drop of at least over 80%.\n\nMoreover, according to official statistics, the total trading volume for this week is currently 4.89 billion. If one rashly jumps in over the next few days, it is highly likely to become cannon fodder.\n\nTherefore, I plan to observe for a while this week.\n\nHowever, this is still a game of strategy, and the difficulty of earning points in the coming weeks may still be considerable.\n\nFor example, actuaries will roughly calculate the loss of each point based on trading volume and weekly points, so the efficiency of points in the following weeks may be similar to this week.\n\nHowever, it should be noted that the major players who brushed early will receive rebates next week, while those who did not go all out will not, so it is still important to act quickly.\n\nI currently plan to brush o1 again, as it is not too competitive for now.\n\nSome personal thoughts and a beginner's guide on o1 can be found in this post: https://www.binance.com/zh-CN/square/post/35323998588473\n\nAdditionally, there are currently no LP opportunities found for o1, but everyone can keep an eye out. If anything is discovered, remember to quietly message me, haha~\n\nNote: The above is for information sharing only and not investment advice. Please be sure to do your own research!\n\nDiligent DeFi enthusiasts: BitHappy

Don't forget to retrieve the money you forgot in the Binance wallet～

For friends who have stopped using Alpha for various reasons before, or switched from the original wallet to a private key wallet, please pay attention.

I have personally tested that after changing wallets, Binance will not swallow your Booster rewards, and they will be directly issued to the wallet you originally participated in the activity with!

➤ The tutorial is as follows:

0/ Open the Binance App → Wallet → Discover;

1/ Select the Booster section;

2/ Click My All Rewards - Claimable - Batch Claim;

Note: The above is just information sharing, not investment advice, please be sure to do your own research!

Diligent DeFi enthusiasts: BitHappy

I brushed 50,000 in Genius, still too conservative～

On the BNB Chain, there are many who brush over 100,000 or even millions in a single transaction!

Are you big players also like me, just silly?

There must be some secret, 👀

Genius, are you still刷?\n\nGo ahead, after all, there are no fees now～\n\nEven if there's a "0.02" loss on stablecoins in BSC, it's still better than in the future being like o1 with "1.00", right?\n\nHowever, I still think issuing my own token isn't a good idea, after all, the invitation points have already been taken away.\n\nEven if self-issued tokens seem feasible now, will they really not be taken away in the future?\n\nMoreover, the point rules for stablecoins are written in the documentation.

Last time there was a vulnerability in the Binance trading competition, many friends took advantage of it～

This time the S2 rules are the same as S1: the higher the profit ranking, the more rewards you can get, up to 60 $BNB.

The operation of the last vulnerability was:

Buy coins → Withdraw → Sell (avoid risk of decline) → If the coin price rises → Buy back → Sell (counted as profit).

However, this time you definitely can't exploit loopholes like that anymore. Because community members have already submitted this bug to Binance officials and received a reward of 1 $BNB.

The officials also clearly stated: as long as there has been a withdrawal operation, the profits of that currency will not be counted.

So, are there any other methods or tips?

Yes, brother, of course there are!

If you are interested, please leave a serious comment in the comment area, and I will send it to you privately～

Binance wallet trading stock tokens gives 5 Alpha points～
Although everyone says that if everyone has it, then everyone does not have it, but if you did it, you are ahead of others by 5 points.
➤ The tutorial is as follows (image):
0/ Open Binance App → Wallet → Stock Tokens;
1/ Select any stock token such as Coca-Cola;
2/ Click trade;
3/ Authorize and exchange;
4/ After success, reverse exchange the token back to USDT;
Note: Each account has only one qualification, and a single purchase must be greater than 50U, and the activity ends on February 3 at 21:00.
Tip: The above is only for information sharing, not investment advice, please make sure to do your own research!
Diligent DeFi enthusiasts: BitHappy

Everyone's complaints about o1 are mostly about the excessive loss, which is actually unnecessary～

The ratio of loss to points is the key; no loss but unable to obtain points is meaningless!

Additionally, although many cryptocurrencies on o1 have very low trading fees, it is said that only the cryptocurrencies under the o1 Alpha category have a high points coefficient, which is why everyone is刷 LMTS.

However, I haven't found any definitive documents or explanations for this claim, but the official documentation clearly mentions the existence of a points coefficient.

Genius Season 1 Points Price Prediction～

Everyone can calculate the cost of points through loss, and then compare the chart to have a rough expectation of returns.

The key point: The new points regulations will take effect tomorrow morning at 5 AM (Eastern Time today at 4 PM), and trading points will be retroactive, meaning there is still time!!?

➤ About the new points regulations:

0/ TGE will be before April 12;

1/ Invitation points are invalid;

2/ 10 million points will be distributed weekly;

3/ The efficiency of acquiring stablecoin points is halved;

4/ Only trading volume is needed, not the number of transactions;

5/ Currently, there are no transaction fees.

Note: The above is for information sharing only, not investment advice. Please make sure to do your own research!

Trendy DeFi enthusiasts: BitHappy

The track suddenly became popular. If you hesitate and wait, the only thing that awaits you is the continuous increase in the cost of participation!

Last week, due to Genius announcing the background of YZi and CZ, it not only brought 40,000 new registrations in just one hour, but also rumors suggest that the number of users has exceeded 1.5 million.

This caught the Genius product and team off guard, exposing not only technical shortcomings but also flaws in the design of the invitation points in the token economics.

Immediately following this, there was a "maintenance" at 8 AM on Saturday.

It is speculated that a weekly retrospective model for points may be adopted, which means the difficulty of obtaining points will significantly increase.

At the same time, Genius also ignited a fire for the Terminal track.

The data for the same track, o1, also rose in these two days, but unfortunately, o1 started implementing a fixed model of 2 million points per week today.

What originally required only $20 in low consumption to earn nearly 10,000 points in an hour is now impossible.

Therefore, hot projects must be followed up quickly; even with a small investment, one cannot miss out.

Because in a few days, the cost could be several times that of the early stages, or even dozens of times.

If your Genius level is not enough, it's better to take a break for these couple of days~

After maintenance, although trading points can be retroactively applied, the level cannot be raised, which means that for the same trading volume, your costs are 40% higher than those of a level three account.

You might consider going to the same track o1, although its volume is not as high as Genius, and it doesn't have advisors like CZ that create as much FOMO.

However, it has Base behind it, along with undisclosed xxxx.

If you are looking for a comparison target, you can refer to Base's Perp major: AVNT.

Group car: https://o1.exchange/@bithappy

In Genius's leveling system, "transaction count" and "transaction volume" are equally important!

The optimal solution for transaction volume: fewer large amounts;

The optimal solution for transaction count: more small amounts.

However, in the fifth step of yesterday's tutorial "Quick Transactions", the part on how to set up quick input amounts was omitted.

This time it's added, as shown in the picture👇

To be honest, the certainty of Genius is actually not very high～

But I still choose to incur a few thousand in losses.

Why?

Because it has CZ advisors and YZi investments, plus the currently poor product experience makes me think there might be a big opportunity hidden here.

Of course, it could also be the PTSD left after missing Aster.

But anyway, in Crypto, product quality cannot serve as a basis for decision-making.

After all, the first principle of Crypto is having a strong background.

This might also be the true understanding of BUIDL, turning the bad into something great!

Note: The above is for information sharing only, not investment advice, please make sure to do your own research!

For DeFi enthusiasts who bet on airdrops with interest: BitHappy