October 16, 2021

How User Friendly Terra Luna DeFi Ecosystem is Today?

Terra Luna user friendly
Terra Luna is a collection of fiat stable coins but in the future will strive to become the decentralized finance (DeFi) of tokenize real world assets. One of the projects is Mirror Finance where we can invest in tokenized stocks freely, fast, and cheap with full ownership. However, how user friendly is Terra Luna DeFi ecosystem today? Let us take a look.

Mobile Wallets Started to Emerge

Math Wallet
Unfortunately at the time of this writing, there is only two mobile multiple cryptocurrency wallet that supports Terra Luna and its decentralized applications (DAPP) and they are Math Wallet and Coin98. Other than that, the only other wallet to access Terra Luna DeFi ecosystem is its native Terra Station browser extension and mobile wallet. Not even Trust Wallet and Safepal supports Terra Luna assets and certainly not Metamask because it is not a fork of Ethereum. However still, the existing wallets are user friendly enough for users to enjoy the Terra Luna DeFi ecosystem.

Main Network and Smart Chain are on Same Network

Kucoin Deposit Terra Luna
Many DeFi ecosystems decided to run a separate smart chain for their DeFi such as Binance Smart Chain, Polygon, and Avalanche C-Chain. However like Solana, Terra Luna decided to build on the same chain where no need to set up a new smart chain network and cross chain. Therefore, deposit and withdrawal in exchanges are just as simple as vanilla sending and receiving. The top 2 global cryptocurrency exchanges Binance and Kucoin supports Terra Luna but as long as there is Terra Luna in the exchages, they definitely support DeFi deposit and withdrawal where we can even get Terra Luna in crypto.com exchange. One of my local exchange Tokocrypto also supports direct deposit and withdrawal.

Portfolio Generator or Tracker for Terra Luna

Extraterrestrial Finder
Among all the multichain portfolio tracker I know, only Ape Board supports Terra Luna. I found two native ones called TeFi and Extraterrestrial Finder. I prefer https://apeboard.finance/dashboard/terra1d9q9md249hrlwyq6sqvpt7mxmvyfkj8ukn0qlc and https://finder.extraterrestrial.money/columbus-5/address/terra1d9q9md249hrlwyq6sqvpt7mxmvyfkj8ukn0qlc because I can share my portfolio through hyperlinks.

Trading View for Terra Luna

Coin Hall Terra
I was very fortunate to find Coin Hall that supports trading tools for Terra Luna assets including drawing technical analysis and technical indicators. Not even DEX Guru and Chartex support Terra Luna assets yet. I have tried Googling and no luck but then I stumbled upon Twitter and finally found it. Finally, leave a comment if you know more similar DAPPs.

Mirrors

October 13, 2021

How User Friendly Solana DeFi Ecosystem is Today?

Solana user friendly
Many users probably already know that Solana is one of the fastest smart contract platform there is where during its live main net in early 2020, it was able to run 50 thousands smart contracts per second. Therefore, it is very fast and cheap. However, how user friendly is Solana DeFi ecosystem today? Let us take a look.

Many Mobile Wallets Supports Solana DeFi

Safepal Solana
Other than the main Solana wallets Sollet, Phantom, Solflare, Solong, and Slope, other multicryptocurrency mobile wallets also supports Solana such as Safepal, Math Wallet, Coin98, Bitpie, and blocto. Although Trust Wallet supports Solana assets but decentralized app (DAPP) browser is not yet released to expore decentralized finance (DeFi). For now Metamask does not support Solana because it is not a fork of Ethereum.

Main Network and Smart Chain are on Same Network

STEX Solana
Many DeFi ecosystems are not a fork of Ethereum but they decided to run a separate smart chain for their DeFi called Ethereum Virtual Machine (EVM) compatible such as Binance Smart Chain, Polygon, and Avalanche C-Chain. However, Solana decided to build on their same main network where no need to set up a new smart chain network, cross chain, bridge, etc. Therefore, deposit and withdrawal in exchanges are just as simple as vanilla sending and receiving. Sure the top 2 global cryptocurrency exchanges Binance and Kucoin supports Solana but as long as there is Solana in the exchages, they definitely support DeFi deposit and withdrawal where you can even deposit and withdraw on Stex. One of my local exchange Tokocrypto supports direct deposit and withdrawal as well.

Portfolio Generator or Tracker for Solana

Sonar Watch Solana
Portfolio DAPP for Solana is still quite few. Among all the multichain portfolio tracker I know, only Ape Board began to support Solana, but no need to worry because there are native portfolio platforms for Solana. The first one is Step Finance and the second one is Sonar Watch. I prefer the second one because I can share my portfolio just by sharing a link https://sonar.watch/dashboard/FNY6aisHK3MKf2MosbtN4BmfWDx8MF96aWTzJFFnPPYy.

Trading View for Solana Assets

DEXLAB Solana
Unfortunately DEX Guru and Chartex have not support trading tools for Solana assets yet, but good thing there is a native trading view platform for Solana called DEXLAB. It supports drawing technical analysis and technical indicators just like Trading View. There are more feature such as order book, minting lab, and initial DEX offering (IDO). It also have its own token called DXL.

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October 7, 2021

How User Friendly Polygon (Matic) DeFi Ecosystem is Today?

Polygon user friendly
While Avalanche C-Chain used to be complicated, the Polygon (Matic) network used to be initially expensive. Actually it is not the Polygon network that is expensive but the Ethereum network where we used to have to bridge the assets ourselves using Plasma Bridge from Etherum to Matic network with average cost through out the year is $50 per transaction. However, Polygon today is cheap and simple just like Binance Smart Chain.

Many Mobile Wallets Automatically Support Polygon Network

Metamask Matic
I will repeat this writing many times that Metamask remains the prefered wallet for experienced users but not for beginner and potentially new users because the requirement of setup the network manually. Users have to find the network configuration information on the web and explore the advanced feature of adding custom network on Metamask. From my experience, users who are less literate in computers are too lazy to figure this out which results in the lost of potential customers on the decentralized finance (DeFi) ecosystem.
Coinbase Wallet Matic
The DeFi networks should automatically be available where users should only need to switch back and forth. Polygon network being supported on Trust Wallet Mobile was one of the initial steps for attracting more users. Today, Polygon network is supported on many wallets such as Coinbase Wallet and Safepal.

Many Exchanges Support Polygon Network Deposit and Withdrawal

crypto.com exchange
It is a give that deposit and withdrawal to Polygon network is supported on the top 2 global cryptocurrency exchanges Binance and Kucoin. One of my local exchange Tokocrypto supports direct deposit and withdrawal as well. Here is another one that unexpectedly supports Polygon network, crypto.com exchange.

Portfolio Generator or Tracker that Supports Polygon Network

Zapper Fi Portfolio Farming
As we trade many assets and farm in many places, we need to keep track of them and generate a portfolio. Everything in the open cryptocurrency is actually open and transparent but only recently developers created tools to describe the information into a beautiful portfolio. Of them all that impresses me the most are portfolios that can be shared just by sharing a link where here are examples of my portfolio from https://debank.com/profile/0x9cbd20f35e039499fbe203c69c834d35b538c5c0, http://apeboard.finance/dashboard/0x9cbd20f35e039499fbe203c69c834d35b538c5c0, https://zapper.fi/account/0x9cbd20f35e039499fbe203c69c834d35b538c5c0, and there is also APY Vision but needs to hold its token to use.

Trading View for Polygon Assets

Quick Chart
Today even DEX Guru and Chartex supports trading tools for Polygon assets. Before those, the first trading tool for Polygon assets is Quick Chart solely dedicated for the Matic network. From its social media may seem that currently only consists a few developers or even one man army but because of that I think is a good chance to invest before it grows big just like Yeti Swap where back then was only like 10 chats a day in its Telegram group, and now is over 200 chats daily which ofcourse I am in massive profit. Other than it already have a working product which is trading view for Polygon assets, Quick Chart seems to be heading to similar direction to Poo Coin App where holding the token / subscribing will receive benefits of no ads, make advertisements on their page, and access to exclusive information. There is another one called Polysafu but their Twitter seemed to be inactive since June 2021.

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October 5, 2021

How User Friendly Binance Smart Chain DeFi Ecosystem is Today?

BSC user friendly
Previously, I wrote about how Avalanche C-Chain became as user friendly as other decentralized finance (DeFi) ecosystem. At the start of the DeFi craze in 2021, why do users prefer Binance Smart Chain (BSC) as an alternative to expensive Ethereum while there are other chains either older or newer? While the previous article was closer to a guide and a news, this article is more like a story.

Mobile Wallets Should Automatically Supports BSC

Trust Wallet BSC
My career have been in computers and thus my co-workers often uses computers. As I fell in love with cryptocurrency, at least I have to introduce more people to the crypto space. There are less problems introducing the to my co-workers, but was not as easy to introduce to my other peers. One of the main reason was they are lazy to use computers. Unless it is on mobile, they will not consider. Therefore, it is essential for DeFi to be accessible through mobile.
Metamask BSC
For early DeFi users, Metamask was the main wallet, but for new users on mobile, they do not prefer Metamask. I have friend outside of computers who enjoyed DeFi but only BSC and the reason was because it is automatically available in Trust Wallet. I invited that friend to Polygon, Avalanche, and Harmony but was too lazy to create a new wallet or import to Metamask and add the networks manually.

Exchanges Should Support BEP-20 Direct Deposit and Withdrawal

BEP-20 Withdrawal
In the past, we can only withdraw Polygon to Ethereum (ETH) chain and have to pay a high gas fee to cross chain to Polygon chain through Plasma Bridge. Avalanche C-Chain used to be more unpleasant where not only we have to cross but only one wallet works which is the web wallet and therefore needing extra effort to import and export wallets. For pleasant experience, the withdrawal process should be like Ethereum, simply withdraw with one button which is what Binance provided when it released its BEP-20 Binance Smart Chain (BSC). Both of my local exchanges Tokocrypto and Indodax also supported BSC. Currently Binance is facing regulatory issues and if you are against KYC then you can try Kucoin.
BEP-20 Deposit
The same applies to deposit. Back then in Polygon, we have to cross chain from Polygon to Ethereum and pay high fees when depositing to exchanges. Also back then in Avalanche C-Chain, we have to open a separate web wallet to cross chain to main net before depositing to exchanges. Like BSC and ETH, depositing should be as simple clicking one button.

Portfolio Generator or Tracker is My Favorite Feature

JDI Yield Portfolio Farming
Being able to trade and farm without complicated bureaucracy like know your customer (KYC) verification and permission attracted me to DeFi which truly represents the spirit of the free market. However, what currently impressed me the most the portfolio generator especially those that can be shared or shown to others which truly demonstrates the transparency of cryptocurrency to the public. The first portfolio generator released on BSC was Yield Watch which have the best and simple interface however the least supported farms among them all so use this if you do not farm much. For those who farms of dozens of platforms, JDI Yield is best. Finally still, the only platform I know that allows portfolio sharing is Ape Board, for example here I can share to you my BSC portfolio: https://apeboard.finance/dashboard/0xD9c6F048c08bCb24190C0FDE5BbC622f51F83469.

Trading View for BSC Assets

JDI DEX Guru
Like boys will be boys, traders will be traders. I saw many comments about "who the f**k is selling!" and the replies were "traders just got to trade". Without trading tools, traders will be discouraged to enter. The first trading tool for BSC I found is Poo Coin which also have many other services other than a chart generator but for trading tools, it only supports indicators and cannot draw any technical analysis. Then, I found DEX Guru with almost complete trading tools facility like Trading View. If you cannot find your token, find its contract and paste it.

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