So we’ve been trying to figure out how to get MUG into the hands of more people. It’s not the best-performing NFT TokenSet out there, but without any liquidity besides myself and a few people we’ve distributed it to, I haven’t really had the drive to manage it or issue more tokens. I had a chat with a new friend of mine who manages the Layer 2 Index tokenset, and he told me how he’s been using Honeyswap on xDAI chain to provide liquidity for the LTI token. For weeks, I’ve been mulling over whether to put an LP on Uniswap, but gas fees have really been turning me off the idea. So I went ahead and put a MUG-DAI pair up on Honeyswap yesterday.
xDAI is much easier to get onto than BSC — no VPN needed — but I haven’t explored the space very much. I know about a couple projects over there, mainly Colony, which is a DAO as a service project that I’d looked at previously. Now that I’m starting to understand some of this cross-chain swapping and bridging, I’ve got a lot more exploring to do. I don’t get the sense that there’s as much scammy-ness going on xDAI like there is on BSC, but we’ll see where the opportunity is, and I’ll probably have to start taking a closer look at Matic or Polygon or whatever it’s called next.
There’s a lot of stuff going on with these other L1s right now. RUNE is really taking off, literally, they’re getting ready to do some big launch, and price action on their token is booming as well. I’m really frustrated with this one though, since I don’t have time to delve into it as much as I want. I bought a small amount of tokens some weeks ago, but then had to move them once Binance flagged my account as US-based. When they gave me 14-days to claim my funds, I wound up sending my RUNE over to TrustWallet. I didn’t realize it was a Binance Chain address. So I spent last night trying to move BNB from BSC to Binance CEX, now I’ve got to figure out how to swap it to the actual RUNE network using their bridge, and move my BNB back to BSC so that I can continue being a degen.
Speaking of which, I did wind up putting about $140 worth of COMOS-BNB into the Comos.Finance LP yesterday. To give you a sense of the amount of due diligence I did on this one, I was calling it COSMOS for for two days until someone pointed out that there’s no ‘s’ in the middle.
For about $800 worth of ETH one can can get on BSC and really go to town on some of these projects. It’s almost like going back in time six months or more to when ETH was $200 and gas was only 10 gwei. It’s quite refreshing, but probably even more Wild West than Ethereum right now. We’ll see how things play out over the next six months. Several projects I’ve seen are locking rewards or vesting them, which should slow down much of the dumps, but it also means that getting in a few weeks late might force you to watch your funds evaporate in slow motion, if things go south.
On a personal note, I’ve got two projects interviews today. It seems funny that I’m announcing my retirement from work and now opening up to the prospect of taking on another job. One’s short-term, and the other seems like a more long-term play. I don’t know how I feel about a long commitment right now, but we’ll see how it goes and who knows, maybe it’ll work out.