All Things Crypto- An Elk.Finance Podcast
All Things Crypto- An Elk.Finance PodcastAug 15, 2021
All About Health & the Blockchain
In this episdode of All Things Crypto, Shylo (LtSnakePlissken) speaks with Dr. Adam Sharp MD MSc, CEO of Galvan. Galvan's mission is to allow users to earn tokens for making healthy choices, as well as have access to their health information on the blockchain. In this episode, we discuss:
1. What the blockchain has to do with health and wellness
2. Galvan's mission
3. Current concerns related to the health system that the blockchain may be able to solve
4. The implications of having health related information on the blockchain
5. The downsides of the blockchain, as it relates to health and wellness
Please remember that as with all episodes of this podcast, we are not financial adivsors, and this is not to be considered financial advice.
All About DAOs
Today, Shylo (LtSnakePlissken) and special guest Denton (from Hoo Smart Chain) discuss DAOs- Decentralized Autonomous Organizations. We discuss What DAOs are, how they work, why they could be important, and some potential pitfalls. We also talk about what DAOs mean for the future of not only crypto, but even humanity! Give the episode a listen to learn more, and be sure to visit Elk.Finance for all of your DeFi needs!
All About Web3
In this episode Farid, Shylo, and Josh discuss Web3. We talk about what it is, what it means for tech, and what it has to do with the blockchain and possible mass adoption. We also have a great discussion about the future of Web3. The term Web2 was coined in 1999, and defined the simple interaction with centralized websites, especially social media. Web3 focuses more on the decentralization of the internet for privacy and security reasons. This also comes with some potential pitfalls. Come listen to the discussion!
All About ElkNet v2 & Avalanche Summit
In today's episode, Farid and Shylo (LtSnakePlissken) discuss the features of the upgraded ElkNet, the new ELK token, and why the upgrade took place.
Picture ElkNet as a hub of our ecosystem. Like the centre of a wagon wheel, where each spoke reaches out to a different blockchain. On each blockchain there is a reservoir of ELK. With v2, users can simply transfer their Elk tokens into the reservoir using our dApp, ElkNet "picks up" this transfer, and after the transaction is final (different on many blockchains but ElkNet doesn't care) it instructs the reservoir on the destination chain to send ELK (the same amount) to the user's wallet. That is how it works right now, but ElkNet is more than just a bridge. We're more of an oracle. Closer to something like Chainlink. We allow data gathering and transfer across blockchains, but primarily we are utilizing it for value transfer at the moment through our ELK token. In the future ElkNet will be able to create databases of information, proxy tokens, and even transfer our upcoming stablecoin pegged to the Swiss Franc (CHFT)! The v2 upgrade of ElkNet allows for this to happen.
In terms of the token upgrade, this was done in order to increase security of the protocol by removing the mint function from the old Elk token. This way, new ELK could be placed in to these new reservoirs and users not aware of the upgrade would not have to worry about what is happening, as they are informed on the webiste. We are also now able to have the same contract address on IoTeX, which is a nice little fix.
Give the podcast a listen for more details!
Elk is going to the Avalanche Summit!
Hey Elksters! We wanted to give you a quick run down of what Elk is doing at the Avalanche Summit in Barcelona. Come by and meet us! The team is leading a workshop on March 26th @ 12:15pm, doing some special giveaways, and planning for a good time! We're planning to be at a few different places, so best to keep your eyes on the Elk Twitter from March 22nd to 28th, 2022.
All About Rug Pulls
In the 12th episode, Farid and Shylo (LtSnakePlissken) discuss rug pulls. Stay informed and DYOR regarding projects so you don't get scammed! Please see the notes here for more info on the episode.
Check out our socials to give us some feedback here: https://docs.elk.finance/social-channels. Remember to like and subscribe!
All About NFTs
In this episode, Farid and Shylo discuss NFTs, what they are, how they work, as well as the upsides, downsides, and risks. Remember, we're not financial advisors, and this is not financial advice! Check out a rundown of the episode in this Google Doc. Take a listen to our other podcasts, and give us a like and subscribe! You can find more info about Elk Finance at t.me/elk_finance_chat, our website at Elk.Finance, or from any one of our socials!
All About OHM Forks
In the 10th episode of All Things Crypto- An Elk Finance Podcast, Shylo and Farid discuss OHM Forks. Fork, meaning "copy with changes", of Olympus DAO. They can be a risky investment, though people certainly have noticed the potential profit of many of these. We talked about a great deal in todays podcast, so the notes would not all fit in this description. So please follow this link to a Google Doc outlining what we discussed in this episode.
All About Moose NFTs
In this episdoe of All About Crypto, Shylo and Farid take a dive into the Moose NFTs. Catch us on our Telegram Channel if you have any questions or comments, and also check out our Social Media Links to stay up to date with everything Elk, as well as future Moose NFT launches!
What are NFTs?
Non fungable tokens- own something on the blockchain, image is not stored there directly, though metadata that links to the file is there. You're registered as the "owner" of that image. We'll do a whole episode on NFTs at some point.
What stops me from making a copy and selling it for the same price?
Contract address verifies that it is the orginal, you can always tell based on the data on the blockchain.
What is the deal with Moose NFTs?
It is a token that will allow anyone who buys it to run a paranode, which I'll get more into later, and we've somewhat mentioned in the "All About Elk" episode. Basically, a Moose allows the owner to wrap 1 token (a single contract address) on the chain the Moose is on and send it to the other chains Elk is on in a wrapper. It would hold the original token in a smart contract on one chain, wrap it, burn the wrapped version when sending, and mint it on the destination chain.
Why is the moose so expensive now, didn't it use to be 600 bucks? What happened to the airdrops?
As of now, still getting 4.2 Elk per Moose per chain, but at some point, even this will be unsustainable, as the amount of chains we're on increases, the amount of airdrops increase exponentially. We weren't really making as much for liquidity for new chain launches and incentives. We feel like Elk has reached a point in the development cycle where we really have something to show, and owning a Moose is another way to have a stake in the future of Elk, as well as the projects that will use ElkNet. For the BSC moose, for example, we are trying something different and using a whitelist to prevent botting- using winners of ElkSeason 2 and top 10 liquidity holders on BSC. We'll see how this goes for future launches. This provides liquidity for our ETH launch!
Okay, if there are no airdrops, what are the rarity benefits?
Well, some of that is under wraps, but you may know if you're hearing the episode at a later time. Besides being more rare and sought after (only 30 rare and 9 Epic) there will be other exclusive benefits for these moose holders! Stay tuned.
All About Lending & Borrowing
Hi Elk-erinos! Today, we speak about lending and borrowing in DeFi. The discussion revolves around the purpose of lending and borrowing, how it works, as well as what the risks are. We reference a great many points from Roland Rood's article linked here. We also referenced some material from Hypertrader here. Please let us know what you thought about the podcast! Get in touch with us on our Telegram Channel!
All About Arbitrage
In this episode, Shylo (LtSnakePlissken) and Farid talk all about arbitrage. We talk about what it is in relation to both the financial system (https://en.wikipedia.org/wiki/Arbitrage) as well as how it relates to crypto, and Elk specifically!
We focus primarily on 'spacial arbitrage' in regards to cryptocurrency. Quoting the Wikipedia article linked above, "in spatial arbitrage, an arbitrageur looks for price differences between separate markets. For example, there may be a bond dealer in Virginia offering a bond at 100-12/23 and a dealer in Washington bidding 100-15/23 for the same bond. For whatever reason, the two dealers have not spotted the difference in the prices, but the arbitrageur does. The arbitrageur immediately buys the bond from the Virginia dealer and sells it to the Washington dealer".
In DeFi, a simple example of this might be that you notice the price of Elk is $2.90 on TraderJoexyz.com and is $3.00 on app.elk.finance. You would buy the token on Trader Joe (but not so much that the price increases drastically so you do not pay more per token) and sell it for $3.00 on Elk's DEx. This way, you would have bought for $0.10 cheaper, and would keep the price even between the DEx's, increasing Elk price when buying on Trader Joe and decreasing the price on Elk's DEx, causing them to "even out" in price.
A more complex example of this would be arbitraging Elk using different chains. So, let's say the price of Elk is $2.80 on AVAX and is $3.30 on Polygon. Before doing anything, you need to make sure that you have enough Elk to sell to make a profit. You can do this by inputting the amount of Elk you will sell on Matic, and "previewing" the amount of Matic you would get. You can then take this Matic and use a tracker such as CoinGecko to see how much that Matic is worth, then, taking a few dollars off for fees, you could see how much AVAX you could purchase with that amount. You would then go to AVAX and preview the amount of ELK you could get with that AVAX on the Elk Dex, or perhaps on Trader Joe. If the amount is to your satisfaction, you could take one of the following two routes (there could also be more):
Sell ELK for MATIC on app.elk.finance -> Send your MATIC to KuCoin Exchange (make the exchange wallet is not down before sending) -> Trade MATIC for USDT on KuCoin -> Trade USDT for AVAX on KuCoin -> Withdraw your AVAX to your MetaMask Wallet on the AVAX C-Chain -> Purchase ELK on either app.elk.finance or traderjoexyz.com after previewing which would get you more for your AVAX -> If the price still differs, use ElkNet to send ELK to the highest price chain and repeat!
Sell ELK for USDC on app.elk.finance-> Go to xpollinate.io (make sure there is exit liquidity for USDC on AVAX) and send your USDC to the Avalanche C-Chain -> Trade your USDC for ELK on Trader Joe -> If the price still differs, send ELK to the highest price chain and repeat!
The route will be different, and you may even have to navigate through many different exchanges or bridges, depending on how available the native chain token for the ELK you are buying is. And of course there are risks! Prices of ELK could change between when you send and finally move it over to the other chain, exchanges can take a very long time to recieve or deposit tokens causing prices to move, bridges may take a long time, someone (maybe even a bot in the future) could beat you to it, and lastly there is human error with all of this copy-pasting.
At the end of the day, this process is necessary for Elk, and it is profitable for you. It serves Elk by keeping the prices even, so you can do a good deed and make some gains! Keep in mind the risk, and always do some test runs before doing the real thing.
Thanks for listening, and give us some feedback at t.me/elk_finance_chat
All About Elk
Today, Shylo and Farid discuss the Elk.Finance ElkNet, and talk about why we're excited, and about some of the new technology and features coming, and why should you care. We basically follow Roland Rood's wonderful "Beyond the Bridge" article, so read that first or follow along! Please give us some feedback on our Telegram at t.me/elk_finance_chat, you can find me under the username LtSnakePlissken. Thanks everyone!
All About Stablecoins
Today, Farid and Shylo discuss stablecoins, what they are, how they work, why they are useful, and also some limitations. You can find a great article that we referenced by Roland Rood, our lead writer at Elk.Finance at this link. Please let us know how this episode went, and give us some feedback by messaging LtSnakePlissken (Shylo) on the Elk.Finance Telegram chat at t.me/Elk_Finance_Chat.
All About Impermanent Loss
In this episode of All Things Crypto- An Elk.Finance Podcast, we discuss impermanent loss in regards to liquidity providing in a decentralized exchange (DEx). We drew most of our material from our lead writer, Roland Rood, from his article linked here.
We discussed most of this episode in the order it was presented in the article, so if you'd like a recap of the content from this episode, please give this a read! We also mentioned an impermanent loss calculator that you can try here.
Thanks for listening! Please direct any feedback to me, LtSnakePlissken, on our Elk.Finance Telegram at t.me/elk_finance_chat
All About Farming
In Episode 3 of All Things Crypto, Farid and Shylo discuss farming in regards to DeFi. What is farming? How does it work? How do you do it? Listen to find out! If you have other questions, feel free to find me under the username LtSnakePlissken on Elk's Telegram channel and send me a message- https://t.me/elk_finance_chat. You can also find a description of the episode here.
All About Liquidity
In the second episode of this Elk.Finance Podcast, Shylo and Farid discuss what liquidity is, how it works, and why it matters to you. If you have other questions, feel free to find me under the username LtSnakePlissken on Elk's Telegram channel- https://t.me/elk_finance_chat
An Introduction to Cryptocurrency
In the first episode, Farid and Shylo discuss the "basics" of cryptocurrency, how it works, and why it has value. We discuss the concepts of decentralized and centralized finance. Join us for the first episode of All Things Crypto- An Elk.Finance Podcast.