vermillionsilhouette

Cryptocurrency Enthusiast & DeFi Code Debugger, Taking You Through The Journey Of Blockchains, NFT, & Everything Crypto Related. 🚀

[vermillionsilhouette @vermillionsilh2]

The vast majority of the human population has no clue about how to use #crypto. Hell, most of the population hasn't even heard of it. For those who have, most don't know how it works, even less own any, and from that only a small percentage use it to transact/stake/loan/farm.

[CryptoDiffer Analytics @CryptoDiffer]

STATE OF THE DEFI
Total Value Locked in #DeFi: ~$62.8B USD

DeFi #TVL has decreased by 6.31% in the last 30 days. 13 projects have TVL over $1B compared to 15 projects a month ago.

$LDO $MKR $AAVE $JST $UNI $CRV $CBETH $CVX $COMP $INST $RPL $CAKE $USDJ $FRAX $BAL

[John Wick @JWRB16]

U.S. August #CPI Data 3.7% and expected was 3.6%
#Btc #Stock #binance

[vermillionsilhouette @vermillionsilh2]

Well amazing to see @Nahmii_io still kicking. Hopefully your #L2 catches on, but realistically....

[Nahmii @Nahmii_io]

Migration complete!

We're pleased to announce that an updated version of Nahmii 3.0 is now available for testing on Sepolia. Find out how you can help to test the new network by reading the blog below:

https://t.co/iRcPev1wZK

[vermillionsilhouette @vermillionsilh2]

Which #HardWallet should I buy? In need of a upgrade but there's now so many to choose from!

[BSCN @BSCNews]

⛓️ Exploring the role of #Bitcoin as a modern store of value! 💎🔒 Dive into this article to get all the details you need:

$BTC
https://t.co/j2z9JJ3nYL

[vermillionsilhouette @vermillionsilh2]

@coingecko Shouldn't polygon be on this list?

[hoeem @hooeem]

The Ethereum Shanghai hard fork is about to take place.

- What is going to happen?

- What is the bull/bear case?

I have had access to institutional grade research to explain, let’s get into it: 🧵👇

[Zach Rynes | CLG @ChainLinkGod]

Yeah man crypto is the future, let me bring you up to speed

First, TerraUSD collapsed, a massive Ponzi scheme where investors were promised 20% APR on their USD ($20B in UST and $40B in LUNA wiped out)

This caused the largest crypto hedge fund to go insolvent due to excessive leverage, 3AC ($3B AUM wiped out)

3AC borrowed funds from all the largest crypto lenders, each of who went insolvent after bank runs inevitably occurred, causing a market wide credit crunch

Celsius ($12B AUM, $1.2B deficit), Voyager ($1.6B AUM, ~$670M default), BlockFi ($3.9B AUM, $400M revolving credit)

Voyager and BlockFi were bailed out by FTX/Alameda, but ah turns out they were complete fraud too

With $10B of customer funds siphoned from FTX to cover Alameda’s losses, a bank run took place, creating a second contagion wave, leaving Voyager/BlockFi rekt again

Genesis Lending, under the DCG conglomerate, also went bankrupt due to Alameda/FTX exposure ($3B shortfall)

Gemini was lending $900M in customer funds to Genesis, so they and their customers inevitably got wrapped in the mess too

No doubt TradFi is involved in this too, with the collapse of two banks that were key banking partners for crypto

Silvergate (FTX’s banking partner and ran an payment network for crypto exchanges) experienced a bank run and collapsed after losing $1B on bonds

While SVB (Circle’s banking partner for USDC and most tech startups) experienced a bank run and collapsed after losing $1.8B on bonds

Not looking too good for Signature Bank either, which runs the ‘other’ bank payment network for crypto exchanges

Can’t forget the SEC trying to strongarm the industry from shutting down Kraken’s staking product to calling Paxos’ stablecoins a security and shutting down BUSD, and much more

Various banking regulators also strongarming banks into refusing to onboard crypto companies as clients, forcing them overseas and to use sketchy counterparts

Anyways

Have you heard of liquid staking derivatives and re-staking? Pretty cool financial engineering right there, crypto innovation never stops 💪

[vermillionsilhouette @vermillionsilh2]

Uh not sure if I should buy more USDC or sell all of my USDC.

[vermillionsilhouette @vermillionsilh2]

@0xPolygon How is the different classifications of cryptocurrency in different countries affecting how Polygon approaches development?

[vermillionsilhouette @vermillionsilh2]

@elk_finance 💪elk strong

[vermillionsilhouette @vermillionsilh2]

@MagicEden Well then

[vermillionsilhouette @vermillionsilh2]

@alexangelj @sjkelleyjr In addition, using inline assembly in Solidity can also be beneficial as it allows for writing more gas-efficient code in a low-level, machine-like language than standard Solidity code.

[vermillionsilhouette @vermillionsilh2]

@alexangelj @sjkelleyjr The most gas-efficient way to code a loop in a smart contract is to use a "for" or "while" loop. This is because they don't require an additional function call for each iteration

[vermillionsilhouette @vermillionsilh2]

Essentially, synchronous #RPC is a straightforward way of requesting a remote procedure and waiting for the response. Usage of this model should keep aware of its potential performance issues.

[vermillionsilhouette @vermillionsilh2]

Let's talk about synchronous #RPC (Remote Procedure Call) in this 🧵. In simple terms, #RPC is a way for a program to make a request to a remote server and wait for the response before continuing execution. This is known as a synchronous call.

[vermillionsilhouette @vermillionsilh2]

However, synchronous #RPC can also lead to performance issues if the remote procedure takes a long time to complete. This can cause the calling program to become unresponsive while waiting for the response.