"HOPIUM" represents the belief that the situation will improve one day.
I start writing on this blog in a period of relative calm on CT.
The arrival of the BEAR MARKET has liquidated all the hordes of influencers that filled our timelines, disturbing the "signal" of the developers and teams of the various valid projects, which are revolutionizing the world of decentralized finance, on which I started and never stopped investing since early 2021.
On that last wave of the BULL RUN, I saw my wallet reach sums that are important to me (ATH higher than $130k. How I got there, between ups and downs, will be a topic of discussion in the coming weeks), to then end up deflated and back almost to par with my initial investment. Which, however, I still consider a success, given the bloody months the BEARS brought with them.
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The collapse of the legendary $LUNA/$UST duo that made us dream of a DeFi finally free from the impositions and limitations of the TradFi stables like $USDT, $USDC, $BUSD etc., was only the beginning of a total meltdown. This was followed by the fall of some of the most important VCs such as 3AC, passing through the declaration of bankruptcy of Celsius, to then arrive at the collapse of the whole crypto market, reaching the present where the terrible post-pandemic war in Ukraine, and the European energy crisis are raging.
I decided to start writing mainly to contribute to the increase of contents on THORChain in my native tongue (Italian), which at the moment are very scarce. I bought my first $RUNE when BEPSwap was still around, before the advent of THORChain's Chaosnet (testnet), last year's hacks (users didn't loose a penny), and the much anticipated Mainnet which arrival was cheered this year.
I was immediately fascinated by the complexity required to perform swaps between different native L1s, always keeping the custody of our tokens and without any intervention of centralized intermediaries, which is the core philosophy of this blockchain built on the IBC toolkit and made possible only thanks to the skills of the anonymous Node Operators (NO), the original idea and dedication of the members of the core team, the expertise of Nine Realms and the passion of a united community, which was able to resist the Chaosnet real chaos, never losing sight of the original vision.
The THORChain machine is a complex one. Concepts such as Liquidity Blackhole, Deterministic Price, Impermanent Loss Protection (ILP), Synthetics, etc., can create a lot of confusion among the less experienced ones. The goal of this blog is also to explain complex concepts in a simple way, and by providing practical examples of how to use and exploit this product through the use of the interface most used and loved by THORChads: I'm talking about THORSwap (we will return to the difference between $RUNE and $THOR in later posts).
To summarize, THORChain's goal is to become the reference for decentralized cross-chain swaps, and a valid and superior alternative to the various CEXs, having plans to also support the possibility of lending and borrowing funds in the next future. Single staking yield is under work as I write.
To achieve this goal there is a key word: LIQUIDITY. The latter comes thanks to the possibility of obtaining real interest on ours L1s acting as Liquidity Providers (LPs) on the platform. It goes without saying that the more the word spreads, the more content and guides are available for those who enter THORChain for the first time, the more users will earn their $BTC, $ETH, $AVAX, $ATOM, $BUSD, $USDC, etc. in the numerous pools available, contributing to the success of this fantastic project.
In conclusion, in addition to $RUNE and $THOR, over these two years I have also invested in $ETH, $AVAX, $ATOM. I will talk about these tokens and related protocols / ecosystems also in this blog, since they are also part of my strategy to make it through the hard times we Crypto Degens face everyday!!
"NEVER ENOUGH HOPIUM"
CT: @mifune0x
