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Showing posts from June, 2021

Blog rebranding

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I have been thinking of getting a ".com" domain for my blog for a long while. What puts me off from action was the exorbitant price of my previous blog name's domain. As hilarious as it seems, any domain that ends with "coin" these days are being auctioned at crazy prices (you can google that to verify) due to the crypto popularity up rise. Since I am not ICO-ing or earning crazy bucks for blogging, I don't see a point to bid for it. So I finally decided to go ahead with a domain but ditch the "coin" and brain-storm for an alternative blog name - one that will not risk much of an identity loss to my original. Birth of my new domain It takes a bit of trial-and-error before I settled for rainbowonfi.com , which contains the same number of letters as my previous blog name. I find it quite catchy and easy to remember. Google it and it straight away appears at the top of the list. I designed my logo with a logo-making app in 3 steps, so it may not be th

Secret to marriage and some updates

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[Updated 6/7/21:  In case I inadvertently caused you to view Techlead's recent crypto shilling video on Million token, please don't get shill-ed into buying it. See  my tweets about it here . For a clearer understanding on how it's probably a scam, do watch the video that I retweeted from DCF. I believe it will eventually crash to zero when enough clueless buyers realized they were clueless on what he's doing.] A non-crypto related video from a semi-crypto Youtuber that I chanced upon. He's nicknamed as Techlead and I find that he has a slight resemblance to Stephen Chow. He brought up this notion of viewing being a housewife / househusband as a job... interesting concept. The part about "perfect" housewife / househusband graduates really cracked me up. Any opinion on this from those who are married? In this video, he mentioned  The Four Horsemen of the Apocalypse for relationships - something new and useful that I have not came across before. It is a gui

The options for Defi Options trading

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Ever heard of Hegic, Opyn, FinNexus ?  They are all Defi options trading apps. Not exactly new nor wildly popular, I have only just come to know about them being a crypto laggard. Option is not a simple derivative to offer (for market makers) and definitely not an easy instrument for noob retail investors to grasp. Just thought it's interesting to see how these new unicorns innovate and conceptualize options trading in the decentralized space without a traditional order book mechanism. Below are a couple of articles which I have read to satiate my curiosity and some information worth highlighting tagged with my comments in blue below.  Cryptocurrency options competition: What are the characteristics of FinNexus’s liquidity aggregation solution? "Unlike spot or futures, the liquidity of options is more difficult to obtain. For spot, there is only one category, and for futures, there are at most several categories. For options, because there are different expiration dates, exerc

Weekend brain food VII

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Endnotes on 2020: Crypto and Beyond by Vitalik Buterin (writing from Singapore Dec 2020) "People are motivated not just by earning as much money as possible in the work and extracting enjoyment from their money in their family lives; even at work we are motivated by social status, honor, altruism, reciprocity, a feeling of contribution, different social conceptions of what is good and valuable, and much more."

My Defi adventure 3: Liquidity mining on Polygon Quickswap

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*Disclaimer: This is a non-sponsored post. DYODD before embarking on any Defi activity* [Updated on 26/10/21] Quickswap is a prominent  Automated Market Maker (AMM) , or as some calls it DEX, on the Polygon network. It features a vast numbers of token liquidity pools. The dApp is a fork of Uniswap so they function very similarly.  To start liquidity mining, one can provide liquidity in its pools to earn a liquidity provider fee coupled with Quick token incentive rewards.  Personally, I find that its interface is not very intuitive for LP. I guess it's an issue with their UI design, the Rewards page tends to be a bit laggy and jumpy whenever I try to search for a particular pool. I also find this dragon castle not as easy to navigate as the sushi restaurant. In this post, I shall do a walk-through for those who are new to Quickswap so that you can maximize your liquidity mining rewards. I am lost in the Quick maze

Short review of Gemini Exchange and downloading Account statement

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Low commission trading experience Gemini Exchange, founded in 2014, is a centralized exchange platform for trading of cryptocurrencies. It is available in web and mobile interfaces, and supports many common fiat currencies for crypto trading. Setting up the account is quite a breeze but have to go through the usual KYC. I set up my account about three years ago.  Funding your trading account The account can be easily funded by fiat or cryptocurrencies. If you do not have USD, simply deposit in SGD to trade by  linking up your SGD bank account . The transfer (in/ out) is done via FAST through Xfers so it is fast! Do note that a maximum of 20,000 SGD can be sent per deposit transaction. Each account holder has a unique bank account number assigned, so be sure to input that correctly under Transfer details.  If you prefer to trade in USD, you can link up a multi-currency account and remit USD which takes about 1-2 working days to be reflected when you make a deposit or withdrawal. Be sure

Guide to Celsius promo codes stacking

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Celsius network is a financial technology (fintech) platform that offers interest-bearing savings accounts, borrowing, and payments with digital and fiat assets. Something like Blockfi which I have previously mentioned. It offers more than 35 tokens on platform for deposits. It also offers loan. If you are considering opening a Celsius account to earn interest on your cryptocurrencies, read on. Due to the attractive sign up rewards, promotions and recommendations, I decided to give it a try. I was previously using Blockfi for earning stablecoins interest as they were running a 10% APY promo till end of July. Celsius offers a clean and easy-to-navigate app platform interface and now has a web app as well. My only gripe is the jumping of hoops to gather all the rewards on signing up and I kind of failed my hoop-jump attempt.  To save new users from some angst, I will share how to juice the sign up rewards correctly below. Celsius will always update their active promo codes frequently

My Defi adventure 2: Contract failure and volatility

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https://www.rainbowonfi.com/2021/05/my-defi-adventure.html Encounter of Token Contract Failure I have had a taste of smart contract failure in transfer when I tried sending some SNX tokens to Celsius network from my Metamask yesterday.  There was enough ETH in my wallet for gas fee but surprisingly the transaction failed. For the first attempt, I thought it was because I have locked my Metamask too early and closed the browser (transaction was pending when I locked it as I was in a hurry to go out). In the second attempt some time later, the pending status was dragging due to low gas fee, so I sped it up and it immediately ringed me a failure message *slap*. Third attempt, I tried sending to Gemini (another platform) instead and again received a failure message *slap slap*. By rule of elimination, I suspected it's an SNX smart contract failure ( the token is probably locked or paused ).  This is suay or what?! In the end, I swapped all my SNX into ETH (on Uniswap) and incurred some

DeFi and the fast changing world

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Decentralized finance (DeFi) has demonstrated that banking and financial services can be displaced automated by making use of blockchains, and function seamlessly though not without limitations . Such services include depositing, lending, borrowing, accounting of money and trading of currencies / derivatives. DeFi communities and economies are not limited by a central power of control, thus things can faster and rewards can be bigger (risks are also higher). Sharing another enlightening video from Finematics.