Mike Irwin

Writer, photographer, blogger for the Wenatchee World

[Queens of BAYC ✨💞 @LadiesofBAYC]

GM, especially to the new ladies joining the @BoredApeYC ! 💅💕🦍🍌

[Mooni23.eth🐧🦍🍌 @mooni23]

Ape till I die

[Cre8ors @Cre8orsNFT]

The time has come.

MINT PAGE IS IN THE BIO!

[Lonfo @LonfoNFT]

Lonfo Beanies and Balaclava 2024
Now available on Etsy and the Lonfo Shop! 🇮🇹

Handcrafted in Italy with love and Missoni's premium wool. 🧶
Each purchase comes with an exclusive Lonfo Art NFT for a touch of magic. 🖼️
Limited stock. 🫰

[CoinFLEX @CoinFLEXdotcom]

We are pleased to announce the successful approval of CoinFLEX’s restructuring by the Seychelles Courts.

Please read our full announcement here (https://t.co/VWHEYWwLey) and stay tuned for more information coming later this week.

[Skullx @SkullxNFT]

JUST IN

Mint is live!

[sirvincentfred @SirVincentFred]

I’m following a LOT of apes, but I know I’m missing a lot too. Let’s do a little OG #ApeFollowApe, shall we?

[Orion Parrott (oparrott.eth) @OrionParrott]

Goodmorning @OrangeDAOxyz fellows! The possibilities are endless.

[Upbit Korea @Official_Upbit]

[스테이킹] 스테이킹 지원 디지털 자산 추가 (MATIC)

업비트 스테이킹 서비스에 폴리곤을 편리하고 안전하게 스테이킹하여 블록체인 검증에 참여해 보세요.

➡️ 폴리곤 스테이킹 바로가기: https://t.co/B54NTqqReu

🔗 공지 바로가기: https://t.co/j1mg3HyBvI

#UPBIT #STAKING #MATIC

[Pixel Vault @pixelvault_]

Don’t bring a knife to a gun fight.

More skills
More brawlers
More flex
More rewards

+ $500 in free games

Stay strapped with BattlePass 🔥

S1 BattlePass available starting tomorrow for 0.069Ξ
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[Changelly @Changelly_team]

$ENJ by @enjin is now listed on Changelly! 🚀

$ENJ powers @enjin, a #blockchain that enables seamless, no-code integration of #NFTs in video games and other platforms.

Exchange $ENJ ➡️ https://t.co/ndY0jjTuWq

[TruBit Latam @TruBit_Latam]

🎙️TruBit Talks #8M | Este próximo Jueves 07 de Marzo están invitadxs a nuestro Space: Mujeres lidereando en Blockchain.💜

🚺Nos acompañan: @Anananfts @Kalipssoh @mujeresencrypto y @FemtechLa . ✨

🔔Activa tus notificaciones y visibilicemos el rol de la mujer en #Blockchain.

🇲🇽 19.00, 🇨🇴 20:00, 🇦🇷22:00.

[Ben @nftsupply]

its just really fucking dope to see rare sats finally get the attention they deserve.

[Nestor (Axin) @jiuyuebtc]

DMT的创新与新资产层出不穷啊🤣

[C @cyounessi1]

Over *four years* ago I was a research analyst at @scalarcapital.

The Terra / $LUNA deal came across our desk and I was assigned to it because I was the DeFi guy. Here's what I had to say about the project.

How did we allow it to end up like this?

[Base App @baseapp]

The biggest barrier to growing onchain adoption is the complexity of onboarding.

We’re excited to introduce our smart wallet solution to help make onchain onboarding faster, easier, and safer. Available on testnet for developers now.

Learn more: https://t.co/86ANCip7UO

[BitMEX @Bitmexdotcom]

When you finally get your Twitter handle... @BitMEX

[CyrilXBT @cyrilXBT]

Crypto money flows from BTC to altcoins.

If you're reading this, you're in luck.

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Get the alpha you need 🧵✍️

[craig (ethalorian) @ethalorian]

Why do we need Over-collateralized lending on the #LUKSO blockchain?

Grab a snack and strap in...A long-form post below ⬇️

A short story from its success on the Ethereum Network

Overcollaterlized lending has significantly impacted the Ethereum economy, transforming how users interact with digital assets and creating new financial opportunities. This long-form post explores the concept of overcollateralized lending, its implementation on the Ethereum blockchain, and its effects on the ecosystem.

⬨ Understanding Overcollateralized Lending

Overcollateralized lending is a financial mechanism where borrowers provide collateral worth more than the value of the loan they are taking. This is a common practice in decentralized finance (DeFi) platforms built on Ethereum. The purpose of over-collateralization is to mitigate the risk of loan defaults and ensure the stability of the lending platform.

In traditional finance, lending often relies on credit checks and personal guarantees. However, in the decentralized world of Ethereum, where anonymity and trustlessness are valued, overcollateralized lending provides a secure way to facilitate loans without needing to trust the borrower.

⬨ Implementation on Ethereum

Ethereum's smart contract functionality allows for the creation of decentralized applications (dApps) that can execute overcollateralized loans automatically. Platforms like @MakerDAO, @Compound, and @aave have popularized this model, allowing users to deposit their cryptocurrency assets as collateral to borrow other assets or stablecoins like $DAI.

For example, a user might deposit Ether ( $ETH ) into a smart contract on the MakerDAO platform to borrow DAI, a stablecoin pegged to the US dollar. The user must maintain a collateralization ratio (the value of the collateral compared to the value of the loan) above a certain threshold, typically over 150%. If the value of the collateral falls below this threshold due to market fluctuations, the collateral can be automatically liquidated to repay the loan, protecting the lender from losses.

⬨ Impact on the Ethereum Economy

💎Liquidity and Capital Efficiency: Overcollateralized lending has unlocked new liquidity in the Ethereum ecosystem. Users can leverage their existing assets to access additional capital without selling them, leading to more efficient use of capital.

💎Stablecoin Adoption: The rise of overcollateralized lending has contributed to the growth of stablecoins like DAI. These stablecoins are essential for DeFi, providing a stable medium of exchange and a safe haven during market volatility.

💎Financial Inclusion: By removing traditional barriers to borrowing, such as credit scores, overcollateralized lending has made financial services more accessible to a broader audience, promoting financial inclusion.

💎Risk Management: The overcollateralized model encourages responsible borrowing and risk management. Borrowers are incentivized to monitor their collateralization ratios and maintain sufficient collateral to avoid liquidation.

💎Innovation and Growth: The success of overcollateralized lending has spurred innovation in the DeFi space, leading to the development of new financial products and services on the Ethereum blockchain.

💎Price Stability: The mechanisms of overcollateralized lending, such as automatic liquidations, help maintain the stability of the lending platforms and the broader Ethereum ecosystem during market downturns.

Connection to #LUKSO and Universal Profiles

⬨ Why are we advocating for DeFi Now?

1. Improved Access to Capital:
Creators often require capital to fund their projects, whether it's for producing content, developing digital assets, or launching new ventures. Overcollateralized lending allows creators to borrow funds against their existing digital assets, such as cryptocurrencies, NFTs (non-fungible tokens), or other tokenized assets. This provides them with the necessary liquidity to invest in their creative endeavors without having to sell their assets.

2. Leveraging Digital Assets:
In the creator economy, digital assets play a crucial role. Creators can monetize their work through NFTs, social tokens, or other blockchain-based assets. Overcollateralized lending enables creators to leverage these assets as collateral to secure loans, enhancing their value and utility

3. Financial Flexibility:
Overcollateralized lending offers financial flexibility to creators, allowing them to manage their cash flow and financial needs more effectively. For example, they can borrow funds to cover short-term expenses or invest in new projects, and repay the loans as their revenue streams grow.

4. Empowering Independent Creators:
Traditional financing options may be limited for independent creators due to the lack of traditional collateral or credit history. Overcollateralized lending on blockchain platforms provides an alternative financing route, empowering creators to pursue their projects independently.

5. Fostering Innovation:
Access to capital through overcollateralized lending can encourage innovation within the creator economy. Creators can experiment with new ideas, technologies, and business models, contributing to the diversity and vibrancy of the creative landscape.

6. Community Engagement:
In some cases, overcollateralized lending can involve community participation, where fans and supporters provide liquidity to lending pools. This fosters a sense of community and engagement, as supporters can directly contribute to the success of their favorite creators.

7. Risk Management:
Overcollateralized lending allows creators to manage risks associated with their projects. By borrowing against their assets, they can avoid the need to sell their holdings during unfavorable market conditions, preserving their long-term value.
Digital Identity and Reputation

In traditional finance, undercollateralized lending relies on the borrower's credit score and history to assess their creditworthiness. However, in the decentralized world of blockchain, where anonymity and pseudonymity are common, assessing creditworthiness becomes a challenge.

‣‣‣LUKSO's digital identity solutions can bridge this gap by providing a way to create and manage digital identities that are verifiable and trusted. These identities can be linked to a user's history of transactions, interactions, and behaviors on the blockchain, forming a digital reputation.

⬨ Unlocking Undercollateralized Lending

💎Credit Scoring: By leveraging digital identities and reputations, LUKSO can enable the development of decentralized credit scoring systems. These systems can assess a user's creditworthiness based on their on-chain activities, such as timely repayment of loans, participation in governance, or other positive behaviors.
💎Risk Assessment: Lenders can use the information from a borrower's digital identity and reputation to perform more accurate risk assessments. This can lead to more tailored loan terms and interest rates based on the perceived risk of the borrower.
💎Reducing Collateral Requirements: With a reliable way to assess creditworthiness, lenders on LUKSO-based platforms may be more willing to offer loans with lower collateral requirements or even undercollateralized loans. This can make borrowing more accessible to a wider range of users.
💎Building Trust: Digital identities and reputations on LUKSO can help build trust between borrowers and lenders in the DeFi ecosystem. This trust is crucial for the functioning of undercollateralized lending markets.
💎Smart Contract Integration: LUKSO's smart contract capabilities can automate the lending process, incorporating digital identities and reputations into the loan agreements. This can ensure that terms are enforced based on the borrower's on-chain behavior.

⬨ Congrats if you have made it this far!

#PinkMoney believes that…..

LUKSO's digital identity solutions have the potential to unlock undercollateralized lending in the DeFi space by providing a reliable way to assess creditworthiness and manage risk. This can lead to more accessible and flexible lending options, ultimately expanding the reach and impact of decentralized finance and unleashing the full potential of The New Creative Economy.

Do you agree or Disagree?

Weigh in with a comment.

[Charlotte @MsCharlotte90]

#NewProfilePic
@DiminutiveD ❤️