We're at a point in defi development where the differences in chains are becoming cultural as well as technical. The Ethereum Network, technically decentralized, fosters an elitist culture. Not just talkin about the fees. In order to get into the best profit opportunities, you have to buy your way into launchpad platforms like Trustswap, DuckDaoDime/Duckstarter or YFDai.
On top of buying and staking the launchpad tokens, you'll need to suck up to the devs by joining their social groups and saying some nice shit about them on Twitter (even though they've proven nothing cuz the damn product hasn't launched yet). Then you have to fill out a form and possibly KYC yourself to an anon team for just a chance at an allocation. Get whitelisted and get past the bots on launch day, and you might get one of those 20xs Ivan on Tech always blathers on about.
I understand the culture, and this isn't coming from a place of lacking or jealousy. I hold positions in some of these launchpad platforms, and I can compete for allocations whenever I want. So don't think I'm salty or biased because I'm personally missing out. I'm not.
I also understand that Ethereum today is built as a reward for the folks who held through the bear market after 2017. I came along later — before the bull market we're currently in, but I simply didn't know about Ethereum in 2017. So everyone who was buying into ether when ETH = $50/$100 — ETH is for them, not you, jackass. Don't get mad.
I've said in many posts before that you have to roll with your generation in crypto. Innovation happens so fast here that a generation is a matter of weeks, not years. So if you're just getting into crypto now, Ethereum is honestly your daddy. You don't deserve to reap the rewards there, and the culture is such that you really can't unless you provide a substantial amount of value to the more developed ecosystem in the form of cashy cash.
No, you and I need to roll with the innovations that are coming out now, with us. Binance Smart Chain. Avalanche. Matic. Ronin. Cardano and Polkadot to an extent. And I'm going to talk about the culture of BSC and how it is much more conducive to you poor folks. And even though it is a centralized platform, it is providing some of the same opportunities that Ethereum provided in 2018 and 2019.
Yeah, BSC is technically centralized, but it is fostering a much more open, decentralized culture of participation. I just got into 3 incredibly interesting projects today (shrimp.capital, WOWswap, musicalbeats.org), and I didn't have to do anything more than harvest my yield farms and move into the new tokens via Pancakeswap. Didn't need to worry about fees or launchpad hurdles. The experience was really good and profits came almost immediately. More importantly, I'll be able to do the same thing tomorrow for basically free, meaning that I can expand with no lag alongside the total ecosystem. As I've said in many posts, that's the #1 thing you need to do to get profitable in crypto.
Binance fosters inclusivity on sponsored projects as well. When the new stuff hits on Binance, all you gotta do to participate is look to the Binance Launchpool. You can no-risk farm early coins with stables at an APY around 5-9%. After that, they always move the new coin into a Pancake farm where you can get a 500% APY if you're early. Flip those early cakes into more project tokens if you want, and you can come up with a pretty good allocation, no permission or KYC from random ass anon devs required.
Pretty funny to me. Ethereum, technically decentralized, becoming culturally centralized. Binance, technically centralized, culturally decentralized. And Binance will eventually become Ethereum, because projects like Wault are bringing private launchpads to Binance. People in general are trained to centralize. But for now, this is what it is.
Understanding this cultural difference can earn you a great deal of money. Choose your culture wisely. For my money, BSC is still the clear winner even though I want to move towards a decentralized world.
YOUR GUIDE TO MAKING MONEY IN CRYPTO STARTS HERE ---> Making Money in Crypto Part 1
Gems I'm investing in: