Deep Diving DeFi
That came to my mind this morning.
Yet I'm getting in deeper and down. Where I first only was going for the PolyDoge DAO {Decentralized Autonomous Organization}, I now also entered 'the MESH'. And when I entered that realm I got some free Mesh to start with. The price already set at about 18 USA Dollar per Mesh, kind of surprised me. And more drops to follow. Mesh, the place to be for drops on the Polygon Matic network.
Almost 5 years ago I began publishing on this media and application platform on a Blockchain. (Its name shall remain silent.) At some point in time this platform turned into Hive. It was the technology that got me in. Imagine that, blogging on a Blockchain, how on earth would that be usable? It turned out to be pretty nifty. Not only could it be used for publishing, but other applications could run on it. Awesome, is it not?
At first I was not that interested in DeFi {Decentralized Finance} at all. Even with NFTs {Non Fungible Tokens} I was a bit looking at it from a distance. And when the one I created on Hive-Engine did not live up to its promise I kind of lost interest. Way too complex to use, even when I minted one of my own, it seemed to be lost. Meaning, in short, not ready to be used in real life yet. And I know how it is supposed to be used in a system. The application shell has to be programmed. Than it will make sense the way it is set up.
In short, it just did not live up to my expectations. Where I would be able to add some Smart Media Tokens to an NFT. Which would be released if someone bought the piece. Anyway, the idea was there and then I came across 'Open Sea'. With that the Polygon Matic platform came to my attention again. Okay, no free transactions, but I could still see me use it. And the way 'Open Sea' made it possible to create NFTs almost looked too good to be true. And of course a certain percentage is for the company behind it, but I'm perfectly okay with that. Really the whole thing just delivers what I'm expecting from an NFT market place.
More and more Blockchain projects are using Polygon Matic. You can also find Hive related stuff on there like pHive and pHBD. Bridging Blockchains is part of the fun, like with Atomic Swaps it is becoming one huge Cryptocurrency system. And part of this whole thing is DeFi. Which I did frown upon a lot. And I'm still unsure about what its purpose is. Except of making value out off value. Although that seems to relate to money making money. Which in case of the DeFi applications I got into actually do seem to function like that.
At some point I recently doubted if I should take bank savings out and put that in too. But, as you may know by now, I live by the rule to only invest what I am willing and can effort to lose. If they were just my savings, well, no doubt, all the way in. Yet, my other halve might disagree on that. Therefore I do put in what I have laying around for grabs in the Crypto Space. Not all of it, mind you, but something I consider worth taking the risk with. And on Polygon Matic I came across the PolyDoge DAO. And that one turned out to be very profitable. Where I know that being there when others still kind of laugh at it, or ignore it, often is an advantage. And it looks like Polygon Matic is really taking off seriously. Using the TokenPocket wallet I had to change the node setting, because it did not stay up to date. But after that it functioned like it should.
Yesterday I noticed something mentioned about 'the MESH' on Polygon Matic. First I thought it was just like yet another DeFi spin off. So why would I change my initial main focus on PolyDoge and go for another risk factor. Well, I just got a little more than one MESH for free when I added the URL and connected the dApp to my TokenPocket Wallet. Being from Netherland, everything that is cheap and even better GRATIS, gets my attention of course. Seeing the market price of one Mesh being already about 18 USA Dollar made me even more Nederishly happy. And with interest at over 400 percent per year, why not stake it? It is a crazy thing this DeFi thing, so why not use it as long it seems like fun to do so?
And I will use the same steps as I do with PolyDoge. Stake, yield and add it again. Compounding is the farming way to go for me. This means doing a few steps per day. Yet nothing to get worn out by. Actually I like this better than playing some online Crypto game. And even if I do not want to for a couple of days, the amounts to claim will grow. Less compounding value per day, but na higher yield at a later stage. And still in the back of my head it goes like 'this is crazy'. But I do not want to sound like those billionaires who are near death and show how conservative they are. Still claiming that Bitcoin is useless. While there are young Cryptocurrency dudes who buy a 2 million Bulgatti Veyron with BTC in Dubai. No, I'm not that, far from it even, but I did kind of surf on some left behind waves, not complaining, nicely getting by on what comes my way. And so just now added to that was 'the MESH'. Still, I might retire sooner that I normally would.
Even though there is mostly red in the Cryptocurrencies realm I did see the value I had invested grow. While I notice how monsters like the World Bank and the IMF try to bribe countries like Argentina with financial 'support' to completely ban Cryptocurrencies. Yet another attack on the Cryptocurrency realm. Sure some investors will feel cold sweat and their hands go weak after that. And when those two old billionaire Muppets grump again at Bitcoin, I actually feel more confident that Cryptocurrencies already are taking over. Did any of them already mention Tulips again perhaps? The threat to 'them' is real. As a large part of Cryptocurrencies cannot be centrally controlled as the Banking Monetary Governance system does it really must have become a real pain in the neck. That is part of the fun for me. The uber rich are actually scared 'their' money loses its value over time. And with that their believed 'power' will be turned into dust. So, their internal conflict could very well be if they should get in a bit, half or all the way. As trying to stop Cryptocurrencies in its tracks already failed since 2009...
Therefore instead of thinking over things too much, like I did concerning Bitcoin {BTC} back in 2010, I now dive deep in stuff like DeFi. As I did miss out when opportunity knocked on my door in 2010 and I did make some mistakes after that, in 2016 that turned around. And even though I'm not that active on this platform as when I first started publishing, I still like being here now and then. This Sunday I got up at 6, the sun was out, just had yielded my farms and then while having a coffee it was time to blog a little again. And with the note that I only invest value that I made in the Cryptocurrency realm, I leave you for now, wishing you and those dear to you a beautiful day!
Screenshot taken at https://meshswap.fi/
