Reflecting on how I started crypto has me fighting back tears of joy and has forced me to appreciate how far I've come. I am filled with gratitude as I type this.
This is a story that shows that there's always light at the end of the tunnel:
August 2021, I had nothing and Don Jazzy was on X promoting Abeg app by giving away 5k naira to 20 people but we had to solve a puzzle first. Some solved it and hoarded the answer to stifle competition. I did the opposite. I shared the answer to the public.
Unfortunately, I did not win. But someone else won with my answer and appreciated my effort with 2k naira. I was grateful but that was only the beginning. A total stranger (now my friend) watched this whole interaction and decided to give me $50 in USDT for being liberal with the answer when others were selfish.
And asked me to buy $PCHF. He showed me how to buy on chain and in about a week, my $50 turned into $300.
I later lost the $300 but gained something bigger. Thanks to @RallyOnChain for making me look back at where it all began
Here's how to read the Risk Dashboard to better understand how to manage risk while using @hylo_so.
The first thing you'll see is the Collateral Ratio. This measures how much backing supports the system.
For example, if the Collateral Ratio is 130.86% and the Stability Pool Adjusted Collateral Ratio is 5,986%. What this generally indicates is that there is a stronger position for the protocol.
You'll also see the current Stability Mode.
For this, Hylo operates in three modes:
🟢 Normal Mode → 160%+ CR
🟡 Fee Adjustment Mode → 140%–160% CR
🔴 Stability Pool Activation → Below 140% CR
These modes help the protocol automatically respond to changing market conditions to support the hyUSD peg.
Another key section of the dashboard is the Stability Pool.
When the Collateral Ratio falls below 140%, part of the Stability Pool can be used to help strengthen the system. As a result, some hyUSD in the Stability Pool was converted into xSOL to improve system backing.
If you're wondering how the system returns to Normal Mode, the dashboard shows that too. Another useful feature is the simulation tool that shows how the system may react if SOL moves up or down.
You can also view projections for:
• Collateral Ratio
• Stability Pool usage
• hyUSD converted
• hyUSD price
• sHYUSD price
• xSOL price
The goal for the dashboard is simple, it gives you a better understanding of how Hylo works and how the protocol manages risk during different market conditions in real time.
An outstanding part of recapping @hylo_so's past month was their trade relief campaign.
If you recently suffered liquidations above on Solana perps. Hylo is offering $100 in xSOL relief! It's a simple idea, but one that shows the team is thinking beyond products and looking out for users too.
Another was the introduction of new brand assets: Released updated visuals, logos, and branding resources.
There is also expanded multilingual support across 8 languages
More updates are: 🧵
Most DeFi still hasn’t fixed a core issue
memecoins pump fast but using them as liquidity usually means selling.
@purintaxyz flips that.
You keep your meme exposure but borrow against it in USDC instead of exiting.
Your memes can do more with Purinta
Imagine ignoring trends in the meme culture, standing by the side lines and still outperforming most users. This is what Purinta is all about. They enable memecoin holders to actually use their tokens, use as collateral and borrow against positions, all without selling. Your memes stop being idle and starts being productive capital.
This tweet will guide you on how to get in early you to this first of it's kind, memecoin money market and potentially stand a chance for some really cool drops like a $3k monthly prize pool🤤
🧵First, you wear the Purinta Sorting Hats...
🚨 Free Mint Spot Alert! 🚨
25 final spots on the free to mint spaces from my 0 drop
to try to get in is simple
-follow me and @pnagrade (project behind my dev and helping me a lot)
-leave your address in the comments (but say please kindness goes a long way)
-repost