Sushi Defi Death Spiral and Rebirth - Mine Digital
Knowledge
Posted in:

Sushi Defi Death Spiral and Rebirth

September 10, 2020 • 
Share on facebook
Share on twitter
Share on linkedin
Share on reddit
Share on email
Sushi DeFi
Spread the word
Share on facebook
Share on twitter
Share on linkedin
Share on reddit

Sam – the Jesus of DeFi

Here it is, the 27th edition of The FUD, where I talk about the biggest FUD of the week. I help clarify events that crypto twitter decides to escalate. Leggo.

This week Sushi was about to die, Sam came to the recue, based had their first rebase, Good Boy Points went live and Bitcoin is just dumping.

The Great Bear Trap

Pack it up, it’s over.

For some reason people went bearish, a small dump and everyone acing like the bull market is over. To be honest, what we witnessed was a test pump, the real bull is yet to come thanks to Defi.

If you can’t handle the volatility of crypto now though, you probably don’t deserve to be part of the greatest transfer of wealth we have ever witnessed.

Get $BASED

Based. That is all…

The most interesting Defi project to date, maybe I’m skewed because I hold enough and because of my natural bias towards decentralization.

The rebases have commenced and have been very successful.

The most interesting part though is a new initiative by the based team. NFT backed fundraising. 1/10 NFT’s sold for 50k each to raise money for development giving buyer exclusive rights and cashflow. The Degen Elite are real. Get based or go home.

Unaudited Traps

Now I love unaudited contracts as much as the next degen in the room. I mean Sushi Defi started this.

It’s the risk that gets you paid. However sometimes its hard to remember crypto is full of scammers, forget about contracts, someone got phished for a cool mili.

It’s sad, but an important reminder to everyone to keep your eyes open, double check, don’t get cucked.

Sam the Saviour

SushiSwap founder decided to cash out. He market dumped his holdings and obviously the market did not react well. Sushi was almost dead.

In comes Sam taking over and saving this thing from death, he took over the keys, set up multi sig through a community vote, and has upgraded the code and done a migration with future integration plans to Serum.

You know you have made it when the sir of all sirs, Arthur Hayes asks for your help.

The Trade

It’s dead.

Short it…..

I don’t know why I have to keep saying this but people.. corrections are normal, they are healthy, dips are for buying.

I tried to TA that chart.. I failed..

Hope you all enjoyed the update, follow me @TheBitcoinaire and @MineDigital on twitter and medium to stay updated on The FUD and Whisky & Wicks. For the best rates in Australia guaranteed use Mine Digital. Mine Digital also has insured custody so don’t worry about your funds.

Please note this is not intended as financial advice. Always do your own research. The writer holds (and is biased towards) Bitcoin. The writer’s thoughts are his own and do not reflect those of Mine Digital.

Written By
Share on facebook
Share on twitter
Share on linkedin
Share on reddit
Share on email

Sign up

Never miss a thing! Sign up to
The Knowledge Mine Digital’s newsletter on all things Crypto