In This Issue
- My latest portfolio updates.
- Rebecca breaks down this week’s trending coins.
- Erik has a report for you on the future use cases for DeFi.
- The team from Cronos discusses some cool new projects.
- Jesse has a deep dive for you on GMX Exchange.
For any crypto related questions please comment on the website.
For any support related issues please visit wealthmastery.io
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Lark’s Portfolio
I bought some Bitcoin. Exciting, I know…
Otherwise I am not buying anything this week. Nor am I selling anything.
Although I am researching more into cash flow generating coins.
Let me share some thoughts so far.
You have probably noticed me buying up truck loads of JOE over the last months? Why have I been doing this? The USDC rewards! Stake Joe and get paid in dollars. Brilliant. Cash flow is also why I have not sold my LOOKS. I am still earning rewards paid in ETH every day.
The harsh reality of all of these crypto coins is that most of them have little to no reason for existence. Yes, money can be made riding the hype train… if you sell, but the coins with real reasons to hold them are few and far between, but there are some.
Here are a few to watch. Please keep in mind that any of these coins can still drop 99% due to the macro environment. Some of these platforms may fail completely. I am not saying to run out and APE into these coins. Just a list of things I like or am looking at which you may find value in learning a bit more about.
JOE – Trader Joe is one of the biggest decentralized exchanges on the Avalanche network. Their native JOE token can be used to get into launchpads, boost your farming APY, or what I do with it… earn USDC for staking it! At the time of the writing the APY was at 31%. Where does that money come from? Well 0.05% of all fees paid on the platform go to those staking JOE. The more business the exchange does, the more money stakers make. I am holding this one long term. Either it makes me rich or Avalanche and Trader Joe fail. I am, of course, literally betting on the first option!
GMX is a decentralized perpetual exchange, think Bybit but on chain. It has been popular on social media recently since the cash flow rewards remain so strong. Rewards either pay out in Ethereum if staking on Arbitrum or Avax if staking via the Avalanche network. Staking rates are currently over 20% whether staking the coin directly or by providing liquidity. Make sure to read Jesse’s report this week for more info!
LOOKS is the token for the Looks Rares NFT marketplace. Looks Rare is a direct competitor to Opensea, and was launched specifically to challenge the VC narrative of Opensea. A lot of VCs have made a lot of money from Opensea, but regular users have benefitted little from the platform, aside from buying and selling NFTs of course! Looks Rare wanted to give back to NFT users, and thus by staking their LOOKS token you get paid out in Ethereum which is collected from fees paid by users on the platform. I have been slaughtered on the token price since my first purchases, but I am still getting nice ETH rewards. Looks Rare volume remains a decent second to Opensea’s NFT space domination.
BALANCER has certainly not proven as…
Hi! My name is Lark Davis!
I’m a cryptocurrency investor with years of experience and I’ve been making consistent profits in the crypto space.
I’m passionate about helping others do the same, so I run multiple educational channels on crypto investing.
