- RabbitHole has received $3.6M of financing led by Electric Capital.
- RabbitHole helps individuals go down the “crypto rabbit hole” by rewarding them for using crypto applications on smart contract blockchains like Ethereum and Polygon.
- Skills entitle users to participate in unique opportunities such as new token distributions and becoming a contributor to a crypto project
If you’re reading this, you already know the crypto ecosystem exploded over the past year.
What is Superfluid?
Superfluid is a composable DeFi primitive that allows you to Stream tokens from one address to another on a second-by-second basis. Some use-cases include, but are not limited to:
- paying for subscriptions by the second instead of yearly/monthly
- paying or being paid for work in a more granular way
- receiving rewards every second for holding a particular token
What is Yearn?
Yearn is a DeFi service that provides opportunities for users to passively invest through their core products: Vaults and Earn. This is done by pooling users' funds and socializing the transaction costs of moving those funds between other protocols that generate yield; such as dYdX, AAVE, and Compound. Vaults are like savings accounts for your crypto assets. They route your deposit through strategies that seek out the highest yield available in DeFi.
This tutorial will focus on how to deposit funds and begin earning a yield using the Yearn v2 Vaults. It will also walk you through completing one of the tasks required to claim the Asset Management Skill and Lending Skill on RabbitHole.
What is Curve?
Curve is an automated market maker (AMM) protocol that allows users to swap assets using liquidity pools, similar to Uniswap. However, Curve differs from Uniswap in that it is optimized to allow users to trade stablecoins with as little gas fees and slippage as possible.
Slippage is a term that refers to how much the price of an asset shifts during the time that it takes for your order to go through and is the result of a few factors:
- The amount of Liquidity in a pool
- The size of your order
- Other market conditions (ie other users performing swaps on with the same pool at the same time.)
Curve LP
Tutorial: How to provide Liquidity on Curve (Polygon)
What is Curve?
Curve is an automated market maker (AMM) protocol that allows users to swap assets using liquidity pools, similar to Uniswap. However, Curve differs from Uniswap in that it is optimized to allow users to trade stablecoins with as little gas fees and slippage as possible. Slippage is a term that refers to how much the price of an asset shifts during the time that it takes for your order to go through and is the result of a few factors:
What is Balancer?
Balancer is an automated market maker (AMM) protocol that allows users to swap assets using liquidity pools, similar to Uniswap. However, Balancer differs from Uniswap in a major way in that the liquidity pools are able to have up to 8 assets deposited in them, and the desired ratio between those assets can be set by the person that creates it. This essentially allows users to create custom investment vehicles that can act like index funds in which they can collect transaction fees from people using the pool. This comes with the added benefit of being able to maintain the ratios of the assets in their portfolio by having arbitragers effectively manage the fund for them.
Balancer on Polygon?
In this tutorial, we will be covering how to provide liquidity on Balancer on the Polygon network. Polygon is an EVM smart contract-enabled side chain that is very similar to Ethereum. This means that you can use familiar tools like MetaMask to approve transactions. An added benefit is that the transaction fees on Polygon are much lower than on Mainnet Ethereum.
The Weekly Hop is a newsletter covering the leaders behind RabbitHole, a platform onboarding the next million users into crypto while training and connecting them to work opportunities in DAOs.
Since the launch of RabbitHole, the core team has been responsible for creating quests to guide users through various tasks in understanding crypto. This process includes: creating content, submitting proposals for what tasks should be included, developing queries to track completions, and designing NFTs as additional rewards.
We're now starting to decentralize the ownership of these workflows so that dedicated community members can be a part of the creation process. That means that outside contributors can start having a say on how users are being onboarded into crypto through the existing infrastructure that RabbitHole built. These individuals are called Pathfinders.
Charting a path for users to become contributors in web3 based on verifiable, on-chain credentials
We started RabbitHole to promote the mission of Participation over Speculation. From liquidity mining and yield farming in DeFi to minting and flipping NFTs, there’s no shortage of speculation games in crypto today. The unfortunate truth is only a small minority of web3 users are actually becoming contributors to projects they use. To build a more accessible, sustainable web3, we need long term thinkers & builders who think about contributing over using. We need participants, not speculators.
As we set out on our journey to fight speculation in crypto, we launched Quests to help connect projects with new token holders. The next step in our journey is to help guide those token holders deeper down the crypto rabbit hole to become contributors to the same protocols we first introduced them to.
Layer 2 solutions are an exciting answer to the common question of “how can you participate in web3 without having to spend exorbitant fees?”. In this tutorial, we’ll go over one of the simplest steps you can take to start interacting with L2 chains: swapping tokens on Uniswap.
Main steps include:
- Bridging funds to Optimism/Arbitrum
- Swapping tokens in Uniswap on Optimism/Arbitrum
In this tutorial, we’ll cover how to become a L2 liquidity provider using Uniswap on two popular L2 networks: Optimism and Arbitrum.
Main steps include:
- Adding the networks to your wallet
- Depositing funds to your network of choice
- Using Uniswap v3 to provide liquidity
What is Ubeswap?
Ubeswap is a mobile-first Decentralized Exchange protocol for the Celo Network. Ubeswap wants to power Decentralized Finance (DeFi) on Celo by providing liquidity across all assets.
Celo is a mobile-first blockchain protocol that makes DeFi tools and services accessible to anyone with a mobile phone.
The Weekly Hop is a newsletter written by Pathfinders. To learn more about Pathfinders and our role in the decentralization of RabbitHole, check out last week’s newsletter.
Pathfinders are the guiding lights through the nebulous crypto rabbit hole. Every week, we meet to discuss the web3 frontier, where it is today, and where it’s going. This week's musings: the Metaverse–what it is and where we are in it.
What is the Metaverse and where are we in its evolution?
From Zoom chats, to the Minecraft world, to our Twitter feeds, the Metaverse is taking shape all around us. But there’s no finite beginning or end to this always-on digital space where people can congregate to socialize, work, learn, entertain, express themselves, and create. Instead, as put by Matthew Ball, the Metaverse is a “sort of successor state to the mobile internet” that will “slowly emerge over time as different products, services, and capabilities integrate and meld together.”
The Weekly Hop is a newsletter written by Pathfinders. Click here to learn more about Pathfinders and our role in the decentralization of RabbitHole.
If you’re reading this newsletter, I think it’s safe to assume that you’re familiar with crypto twitter. And if that’s the case, then I’m sure your newsfeed over the last week has been consumed by Loot–Dom Hofmann’s latest attempt to “promote the creation of blockchain-based art and communities to surround them.”
The first iteration of Loot, Loot (for Adventurers), featured 8,000 NFT Loot bags that each contained a list of eight different adventure items as text. Yep, you heard that right. It’s just a black background with eight lines of white text.
What is Optimism?
Given the recurring hurdle of high gas fees and slow transaction speeds, Layer 2 solutions like Optimism have become increasingly important to scale Ethereum’s network. Optimism uses optimistic rollups to bundle transactions together using smart contracts on an Ethereum side-chain before moving them to Ethereum’s mainnet. With far lower fees, far lower latency, and far greater throughput compared to Ethereum Layer 1 alone, many of your favorite DeFi protocols like Synthetix and Uniswap, have already begun to deploy on the network.
If you want to be part of a faster and cheaper Ethereum future, keep reading to learn how to use Optimism.
The Weekly Hop is a newsletter written by Pathfinders. Click here to learn more about Pathfinders and our role in the decentralization of RabbitHole.
Almost three weeks since its drop, Loot is still on my mind. And not because of what it is–yet–but because of what it could become.
Avichal Garg of Electric Capital sums it up well when he likens Loot with a deck of cards. On its own, a deck of cards is just 52 pieces of paper with signs and symbols on it. But with a bit of creativity, a deck of cards becomes the foundation to your favorite games–from Crazy 8’s, to Hearts, to my personal favorite, Poker. Similarly, while Loot may appear to be just an NFT with eight lines of white text against a black background, it could become the foundation of an entire gaming metaverse.
The Weekly Hop is a newsletter written by Pathfinders. Click here to learn more about Pathfinders and our role in the decentralization of RabbitHole.
Back in '68, Stanley Kubrick transported us into the distant year of 2001, and the future as he envisioned it held wonders like space stations on the moon and velcro shoes. And while most of the tech in this space epic held onto the 60’s zeitgeist, a particular piece featured is pin-pointedly accurate to our 21st century reality.
After setting the scene for the Discovery One spaceship, we're introduced to a futuristic gadget. Sitting on the table while the crew eats breakfast is a flat, portable screen, broadcasting the galaxy’s news from Earth all the way to Jupiter.
The Weekly Hop is a newsletter written by Pathfinders. Click here to learn more about Pathfinders and our role in the decentralization of RabbitHole.
It’s my first intro for the Weekly Hop, and I already have a confession to make…
This introduction was supposed to be a riff on an essay from Packy McCormick’s newsletter on the progressive decentralization of narrative––a topic relevant to the development of web3 organizations. I planned to share the Pathfinders’ plan to get the community more involved, ideas for revenue generation, and how we can start building this blossoming DAO in public.
But when I started writing, I came to realize that an essay on how to build our DAO’s narrative with the community is hypocritical: you don’t even know my story (or most of the Pathfinders’ stories).
The Weekly Hop is a newsletter written by Pathfinders. Click here to learn more about Pathfinders and our role in the decentralization of RabbitHole.
Nothing is ever free. And unfortunately, instances like the insurrection of the Capitol building, the spread of covid-related misinformation, and the rise of hyper partisan political environments have taught us this the hard way.
In an environment where over 500 hours of video content are uploaded to YouTube every minute, moderation functions as the core commodity that platforms have to offer. These algorithmically-programmed systems of curation maintain profitability by holding our attention on sites (to see ads) and presenting us with content that will change our behavior (to sell ads). Problem is, these algorithms have learned to “nudge” our behaviour for more sinister reasons than just bleeding our wallets dry.
To make matters worse, we’re completely blind to what’s going on behind the gold-plated doors of Silicon Valley. Under Section 230 of the Communications and Decency Act, platform companies basically have sole discretion in how they’re able to collect, collate, use, and sell our personal information.
The Weekly Hop is a newsletter written by Pathfinders. Click here to learn more about Pathfinders and our role in the decentralization of RabbitHole.
Last Wednesday, Twitter software engineer Mada Aflak posted a quick demo of the NFT authentication tool that the company is building. After downloading their NFTs from OpenSea, users can put their NFT in their avatar, and if properly authenticated, a customary checkmark will appear alongside the NFT to show that they are the “true owner” of the image.
Twitter’s addition of this NFT overlay is likely to bring a tremendous amount of exposure to the space. Some may feel like we’re already at the top, but web2’s implementation of incremental technologies like these could mark the beginning of another period of NFT acceleration.
What is Trader Joe?
Trader Joe is an AMM style decentralized exchange on Avalanche. Trader Joe combines DEX services with DeFi lending to offer leveraged trading. Trader Joe’s products are community driven which allows them to allocate fees collected from liquidation and trades back to the users via the JOE/xJOE staking mechanism. JOE is a governance token that also rewards its holders with a share of exchange revenues.
What is Avalanche?
Avalanche is a layer one blockchain created to host all kind of distributed applications. As another blockchain with similar utility to Ethereum, Avalanche has made small changes to how the blockchain works to optimize for speed and scalability. Avalanche aims to not only be a short term compliment to Ethereum but possibly even a substitute. Avalanche has a unique architecture. It consists of three unique chains: X-Chain, C-Chain and P-Chain. With each chain having its own purpose. Something interesting about Avalanche is that each chain uses a different consensus mechanism.
The Weekly Hop is a newsletter from the leaders behind RabbitHole, a platform onboarding the next million users into crypto while training and connecting them to work opportunities in DAOs.
RabbitHole is on a mission to be the University of the Metaverse. This mission includes onboarding new people into crypto, teaching them how to be crypto-native, credentialing crypto users for their on-chain tasks, and matching users to protocols to find the best opportunities to participate in and contribute to crypto networks.
But the truth is, this is not a mission that should be controlled by any single individual or entity. The Pathfinder program is the first step in decentralizing RabbitHole by recruiting the best community members and empowering them to look after the design, creation, and implementation of RabbitHole Quests.
Eventually, the Pathfinder program will become the RabbitHole DAO. In today’s edition of the weekly hop, we will talk about the strategy behind decentralizing through the Pathfinder program and the experiments we are launching to progress down the path of decentralization.
Welcome to the Rabbit Hole 🐇 🕳️
Now that you learned how to lend on Compound, it's time to learn how to borrow.
The goal of this tutorial is simple:
Make sure you have the essentials to safely and securely borrow funds on Compound.
Welcome down the DeFi Rabbit Hole 🐇 🕳️
Are you looking to supply your assets for the Compound Quest? Well, you're in the right place.
The goal of this tutorial is simple:
Make sure you understand the essentials to safely and securely supply assets and earn interest on the Compound protocol.
Today, we’re teaching you how to participate in one of the most fun + important areas of crypto culture: purchasing a non-fungible token (NFT) on OpenSea.
Get rewarded for researching and buying an NFT. Sounds like a win-win.
What you will need for this Quest:
- ETH to purchase the NFT and cover gas fees
- MetaMask wallet (or another web3 wallet)
What is Aave?
Aave is an open source and non-custodial liquidity protocol for earning interest on deposits and borrowing assets. It lets users lend or borrow cryptocurrency without going through a centralized intermediary (like a bank, financial institution, or centralized exchange).
Depositors earn a passive income when they provide liquidity to the market by depositing assets. Borrowers are able to borrow assets to obtain liquidity (working capital) without selling their assets. Borrowers pay interest on their loans. Usually, people borrow due to unexpected expenses, to leverage their holdings or for new investment opportunities.
What is Aave?
Aave is an open source and non-custodial liquidity protocol for earning interest on deposits and borrowing assets. It lets users lend or borrow cryptocurrency without going through a centralized intermediary (like a bank, financial institution, or centralized exchange).
Depositors earn a passive income when they provide liquidity to the market by depositing assets. Borrowers are able to borrow assets to obtain liquidity (working capital) without selling their assets. Borrowers pay interest on their loans. Usually, people borrow due to unexpected expenses, to leverage their holdings or for new investment opportunities.
DAOhaus is a no-code platform for launching and operating DAOs. DAOs have used DAOhaus software to raise more than $50m and distribute almost $20m. On the Daohaus platform, you can discover and join existing DAOs, as well as launch your own. Launching a DAO on Daohaus provides a landing page where others can pledge to join.
In this tutorial, you’ll learn the core actions to participating in a DAOHaus DAO: How to join a DAO, create a proposal, sponsor a proposal, vote on a proposal and process a proposal.
Join the DAOHaus Discord
- Join DAOhaus discord #haus-roles to get Scholar role
- Use the !join command to get the foundations roles.
xDai is a cryptocurrency that is pegged to the US Dollar, has super low transaction fees (up to 500 transactions for $.01 xDai), and fast transaction times. The xDai chain is a stable payments EVM (Ethereum Virtual Machine) blockchain designed for fast and inexpensive transactions.
Why use the xDAI network?
xDai exists to support stable payments and digital cash transactions. Whereas Ethereum transaction costs are unpredictable, subject to congestion, and require several tokens (for example Dai + Eth for gas), xDai transactions are fast, very inexpensive, and require a single token (xDai).
✨ Welcome Crypto Explorers ✨
In today's tutorial, we will be exploring one of the ways to own your identity on the decentralized web.
An ENS name is your username for the decentralized web that can be used to login across many different blockchain and web3 services. Once you set up your ENS name, you can use it as a website address, your identity, wallet/bank, and more!
Let's get started!
- Go to https://wrapeth.com/.
- Connect your web3 wallet to the application.
- Connect to the xDAI network.
- In the "Custom RPC" Settings, add in the xDai network details and click Save:
- Network Name: xDai
- New RPC URL: https://rpc.xdaichain.com/
- Chain ID: 0x64
- Symbol: xDai
- Block Explorer URL: https://blockscout.com/xdai/mainnet
- In the "Custom RPC" Settings, add in the xDai network details and click Save:
- Enter the amount to wrap or unwrap. To view the wxDai to your wallet tokens list, add the wxDai contract to the custom tokens section of your wallet interface:
- If you want to add manually in MetaMask, go to Assets -> Add Token, Paste in the address (symbol and decimals should populate if you are connected to xDai) and save.
- wxDai Contract Address: 0xe91D153E0b41518A2Ce8Dd3D7944Fa863463a97d
✨ Welcome Crypto Explorers ✨
In this tutorial, we will be learning how to be a liquidity provider (LP) on Uniswap (Optimism Network).
We'll be covering how to add Optimism to your wallet, deposit funds onto the Optimism network, and how to provide liquidity on Uniswap.
Let's get started!
🐥 GM web3 hatchlings!! Today we will be covering Coinbase, and how to buy & sell your first Bitcoin (BTC) and Ethereum (ETH) on the platform!!
It can be a bit daunting, but fear not! 🐇 Follow our bushy tail and we shall guide you down the rabbit hole!
First be sure to check out Coinbase’s articles on what Ethereum and Bitcoin are!
🐥 gm hatchlings!!
Today’s guide will be covering the Avalanche network, and how to setup and bridge your Ethereum (ETH) over to AVAX - the network’s native coin used for transactions on the network!
Setting up your wallet and bridging (converting one network’s currency to another) can be daunting, but fear not! Grab a desktop/laptop, a snack, and follow our bushy tail down the rabbithole: we shall guide you! 🐇🕳
Be sure to check out the prerequisite tutorials to get setup first
🐥 gm hatchlings!
Today we will be covering how to buy and sell NFTs on OpenSea, a decentralized marketplace to trade NFTs (non fungible tokens) and digital assets!
First, be sure to checkout these prerequisite guides
- How to set up MetaMask
- What is an NFT? (by Ethereum)
What is SushiSwap? 🍣
SushiSwap is a decentralized exchange (DEX) and lending market on Ethereum. Unlike a centralized exchange, SushiSwap is non-custodial and trustless. It uses an automated market maker (AMM) model to facilitate peer-to-peer exchanges of any two ERC-20 tokens in real time.
SushiSwap has quickly evolved into one of the most sophisticated token liquidity engines in decentralized finance (DeFi) by releasing innovative product offerings that stretch our conception of what a DEX is supposed to be. In addition to the steady flow of new features, SushiSwap has expanded across multiple blockchains, setting itself up to be an extremely versatile multi-chain DEX.
What is Balancer?
Balancer is an automated market maker (AMM) protocol that allows users to swap assets using liquidity pools, similar to Uniswap. Balancer differs from Uniswap in that liquidity pools can have up to 8 assets deposited in them, and the desired ratio between those assets can be set by the person that creates it. This allows users to create custom investment vehicles that can act like index funds, which comes with the added benefit of being able to maintain the ratios of the assets in their portfolio by having arbitragers effectively manage the fund for them.
Using Balancer on Polygon
In this tutorial, we will cover how to swap on Balancer on the Polygon network. Polygon is an EVM smart contract-enabled side chain that is very similar to Ethereum. This means that you can use familiar tools like MetaMask to approve transactions. An added benefit is that the transaction fees on Polygon are much lower than on Ethereum.
We've talked about providing liquidity, and how it can put your crypto to work by being at the heart of decentralized exchanges. In this guide we'll explore another prong for your DeFi swiss-army tool, the secret to snowballing returns on your LP tokens through auto-compounders.
What is Yield Yak?
Yield Yak (formerly Snowball Finance) is a yield auto-compounder for the Avalanche Network. In layman's terms, it allows you to deposit you LP pair tokens (Like wETH.e-AVAX, AVAX-PNG) and single token farms (e.g USDC.e, wETH.e, DAI.e,etc.) to automatically reinvest your gains and earn a compounding slice of the LP Pool as time goes on.
What Yield Yak does differently to other auto-compounders lies in its pooling structure. Instead of locking your yields for prolonged periods of time to maintain liquidity or soft-blocking your with prohibitively high withdrawal fees, YY socializes the costs to offer a more distributed (and therefore cost-effective) compounding mechanism that allows you to watch and withdraw your gains at mach speed.
Decentralized exchanges (DEXs) don't get as much fanfare as they should. They’re the single biggest motor behind the DeFi boom, allowing users to swap between different tokens and blockchains and enabling usage of new crypto projects.
The main advantage of using a DEX is in the name itself — they're decentralized. DEXs rely on supply and demand to determine token prices, and individual participants provide liquidity for certain token pairs to run their operations.
Today we'll explore one of the most promising DEXs in recent times, the Avalanche network's pioneer, Pangolin.
What is Polygon?
Polygon consists of two major components. Polygon Framework and Polygon Protocol. The polygon framework allows developers to spin up their own blockchain network that offers the same developer experience and security as Ethereum while also providing the scalability and flexibility of stand-alone blockchains. The Polygon Protocol provides the method of connecting two different Polygon Chains and the Ethereum Main Chain.
Polygon lowers entry barriers by reducing the transaction costs to an absolute minimum by taking a multi-prong approach to scaling. Protocols like Curve, Aave, Balancer, and Sushiswap have already launched on Polygon. The low transaction costs and fast transaction speeds have encouraged game developers to launch on Polygon. Zed.Run and Aavegotchi are two such games.
What is The Graph?
The Graph is a decentralized protocol for indexing and querying data from blockchains. If you are building an application that accesses data from the blockchain, it might take a long time to look through each block on the blockchain and extract relevant data. To solve this issue, you could build your own service to index data and store it in a conventional database. But this takes time and money.
Here’s where The Graph comes in. By allowing multiple types of network participants with specific roles, The Graph enables developers to build applications that can access blockchain data in a decentralized way without sacrificing performance. This
Let’s look at the participants in The Graph ecosystem.
Indexers: They stake GRT tokens and operate a Graph Node to index relevant data and process queries. They earn Indexing Rewards and Query Fees. Indexers are incentivized to serve correct data as their staked tokens will be slashed if they act maliciously.
Delegators: Delegators stake their GRT tokens on behalf of one or more Indexers. As a result, Delegators earn a portion of the Indexer rewards and Query fees without running their own Graph Node.
Consumers: These are the application developers that access data and pay for queries.
What is PoolTogether?
PoolTogether is a no-loss lottery platform that allows users to deposit crypto tokens into specific pools to win weekly prizes. Your deposits entitle you to “tickets” that rollover weekly till you withdraw funds from the pool. Unlike a traditional lottery, you don’t lose your deposits if you don’t win the prize.
PoolTogether uses your deposits and stakes them on Compound. The interest generated from staking activity is distributed as the weekly prize.
What is BenQi?
BenQi is a non-custodial liquidity market protocol on the Avalanche Network. You can lend assets and borrow against those assets on BenQi. Lending assets allows you to earn interest on those assets.
What is Avalanche?
Avalanche is an open-source, proof-of-stake smart contracts platform that allows developers to build decentralized applications. Avalanche offers near-instant transaction finality and uses the native AVAX token to pay for gas and secure the network by staking.
What is Celo?
Celo is a blockchain protocol that aims to reduce the barriers of entry to DeFi adoption. Celo is mobile-first, supports sending transactions to mobile numbers, has low gas fees, and supports stablecoins. These make Celo more accessible compared to other protocols
Setting up your Celo Wallet.
- Open the Metamask extension on your browser and select the dropdown at the top where it says “Ethereum Mainnet.”
What is Gnosis Safe?
Gnosis Safe is a smart contract wallet that runs on the Ethereum blockchain. It allows you to create a wallet that can be controlled by multiple people and requires a minimum number of signatures before executing a transaction.
Gnosis Safe can be run in a trustless manner as the frontend, backend, and Smart Contracts are entirely open source. Gnosis supports ERC-20 and ERC-721, which means all your tokens and NFTs can be managed through the wallet. You can use the web, desktop, and mobile interfaces to access the safe.
What is BenQi?
BenQi is a non-custodial liquidity market protocol on the Avalanche Network. You can lend assets and borrow against those assets on BenQi. Lending assets allows you to earn interest on those assets.
What is Avalanche?
Avalanche is an open-source, proof-of-stake smart contracts platform that allows developers to build decentralized applications. Avalanche offers near-instant transaction finality and uses the native AVAX token to pay for gas and secure the network by staking.
In this tutorial, you’ll learn how to mint your own NFT on OpenSea.
What you’ll need
- Metamask/Rainbow wallet (or another web3 wallet)
- ETH for gas fees
What is QuickSwap?
QuickSwap is a DEX (Decentralized Exchange) that runs on the Polygon Network. It’s a fork of Uniswap. By running on a layer 2 solution like Polygon, QuickSwap achieves low fees and faster transaction times.
To learn more about the Polygon Network and Bridging funds from the Ethereum Mainnet to Polygon, check out this guide on using the Polygon Network for the first time.
What is Synthetix? ⚔️
Synthetix is a decentralized derivatives liquidity protocol on Ethereum that enables the creation of synthetic assets (Synths) through its staking mechanism. Traders are able to acquire on-chain exposure to a variety of assets, including fiat currencies, stocks, commodities, and crypto, using the Synthetix platform.
All Synths on Synthetix are backed by $SNX tokens that holders have staked as collateral into the application. With a high collateralization ratio and a unique minting/burning mechanism, Synthetix offers traders the ability to trade synthetic assets in a decentralized manner with deep liquidity and zero slippage, unlike traditional decentralized exchanges.
What is Governance? 🏛️
Decentralized autonomous organizations (DAOs) typically rely on democratic voting mechanisms to facilitate coordination. Token holders are able to express their position on a variety of governance proposals by using their tokens to vote.
As important as voting is to the proper functioning of a DAO, participation is notoriously limited. While this is typical of many democratic institutions, voting on Ethereum is unique in that it requires a transaction to complete. This means a voter will typically be required to pay gas to signal their opinion on a proposal. This leaves many smaller token holders left out of governance since voting on every proposal can quickly become prohibitive due to gas costs.
So how do we lower expenses to ensure that anyone who wants to vote on a proposal can do so?
What is Hop? 🐇
Hop is a scalable token bridge protocol for Ethereum’s layer-2 ecosystem. The protocol uses a special intermediary asset called an hToken to quickly move funds from one network to another. These hTokens are automatically swapped for their corresponding assets through the Hop Protocol interface, resulting in a rather seamless experience for transporting assets between networks.
Currently, Hop supports sending USDC, USDT, and MATIC across the Mainnet, Polygon, xDai, Optimisim, and Arbitrum networks. Hop also plans to add even more assets in the future, including ETH, WBTC, and DAI, making it an extremely versatile cross-chain solution to the increasingly fragmented world of layer 2s.
What is Uniswap? 🦄
Uniswap is a decentralized finance (DeFi) protocol for pooling liquidity and trading ERC-20 tokens on Ethereum. Uniswap removes the need for trusted intermediaries when exchanging assets via its automated market maker (AMM) model. This means anyone can permissionlessly trade any ERC-20 token using the Uniswap protocol 24 hours a day, 7 days a week.
As the leading decentralized exchange (DEX) in DeFi, Uniswap has facilitated over $300 billion of trading volume since inception. It is essential economic machinery, enabling peer-to-peer value transfer across all of Web3.
What is SushiSwap? 🍣
SushiSwap is a decentralized exchange (DEX) and lending market on Ethereum. Unlike a centralized exchange, SushiSwap is non-custodial and trustless. It uses an automated market maker (AMM) model to facilitate peer-to-peer exchanges of any two ERC-20 tokens in real time.
SushiSwap has quickly evolved into one of the most sophisticated token liquidity engines in decentralized finance (DeFi) by releasing innovative product offerings that stretch our conception of what a DEX is supposed to be. In addition to the steady flow of new features, SushiSwap has expanded across multiple blockchains, setting itself up to be an extremely versatile multi-chain DEX.
1inch is a DEX aggregator with over $70B in total volume across 540k+ users. To give users the best token exchange rates, 1inch searches across various liquidity sources & swaps your tokens on the exchange with the cheapest rate.
They support 50+ liquidity sources on the Ethereum network, 20+ on Binance Smart Chain, and 7+ on Polygon, and their Pathfinder algorithm optimizes for the most cost efficient token swap path if necessary to minimize fees.
Why does this matter?
Alchemix lets you take out loans against Ethereum and/or DAI that repay themselves over time. Using synthetic tokens native to the protocol & backed by future yield, users can deposit ETH or DAI to mint alETH or alUSD, which can be borrowed and used however you want.
How do the loans repay themselves? When you deposit collateral into Alchemix, it starts generating yield immediately from Yearn Finance vaults. The yield earned on your collateral is then used to pay off the loan you took out.
While other platforms like Compound or Aave allow you to lend/borrow crypto, Alchemix sets itself apart by paying back your loan for you. This allows you to "set it and forget it" and never worry about liquidation.
Let's face it. Crypto onboarding as we know it is a tedious process plagued by token shillers and speculators whose only mission is to pump their own bags. And aside from centralized products like Coinbase Earn, there's no education network dedicated to teaching users the ins and outs of on-chain interactions.
Onboarding today is inaccessible, hard to understand, and owned entirely by influencers who earn outsized benefits from new members joining the ecosystem.
From an accessibility standpoint, think about the first time you heard about crypto — buzzwords galore: "How do I get started?" someone might ask. "Well," you'd say, "first you need a non-custodial wallet that holds various ERC-20 tokens. You're gonna want to go to your favorite centralized exchange, buy some tokens, send them to your wallet, swap some on a decentralized exchange to get some others, and, if you really wanna get frisky, lock em up in some high yield DeFi protocol to maximize your yield. You'll be farming in no time!"
If you don’t know a thing about crypto, you're probably staring at your screen like this:
OlympusDAO is the creator of OHM, a free-floating reserve currency backed by a basket of crypto assets. Used as a means of hedging against the crypto market’s volatility, OlympusDAO focuses on supply growth rather than price appreciation to stabilize the value (but not necessarily the price) of OHM.
How does this work?
First, every OHM token is backed by 1 DAI, but not necessarily pegged to it. While a peg would imply 1 OHM = 1 DAI, backing implies 1 OHM >= 1 DAI. This means there’s no upper limit to the value of 1 OHM, but there is a lower bound — 1 DAI. Or, put differently, the intrinsic value of 1 OHM is 1 DAI, but the market price will almost always be 1 DAI + a premium.
To maintain the value of tokens held in the treasury, OlympusDAO uses a bond mechanism to generate profits for the protocol + staking rewards to incentivize holders to stake/provide liquidity for the protocol. OlympusDAO will either issue OHM if the price spikes, or buy back + burn it if the price drops. Stakers reap the benefits of this, earning rebase rewards as a result of bond sales. The result of all of this? Even if the price of OHM drops below your purchase price, given a long enough staking period, your staked OHM balance should increase at a faster rate than the price decline.
Visor is a protocol allowing users to participate in active liquidity management & provisioning for DeFi protocols in a way that retains custody of their assets and minimizes costs. Since rebalancing and optimization of token liquidity on Uniswap V3 can be confusing for some, Visor handles this for you, saving you time and gas fees.
Why is active liquidity management important?
When participating in any sort of yield farming or liquidity mining, you'll realize how quickly gas fees add up. With Visor's "smart vaults," your assets will automatically be put in top yielding pools to maximize your ROI. Visor will also re-invest the fees it earns from providing liquidity in the pool, letting you increase your position over time.
Thanks to everyone who joined our workshop!
What is MetaMask?
MetaMask is a non-custodial crypto wallet that interacts directly with the Ethereum blockchain. With your MetaMask wallet, you are in direct control of your private keys. Private keys are like a password, a string of letters and numbers that allow you to access and manage your crypto funds from your wallet.
Using a browser that has a MetaMask extension, you can interact with crypto applications on the internet. In this way, your MetaMask is like your single-sign on for Web3, allowing you to sign in to an app or website with your wallet.
You can set up your MetaMask wallet on your phone or your laptop, but in this guide I will be guiding you through how to set up MetaMask on your laptop.
What is ENS?
The Ethereum Name Service (ENS) is a distributed, open, and extensible naming system based on the Ethereum blockchain. ENS maps human-readable names like ‘kene.eth’ to machine-readable identifiers. Instead of using your Ethereum wallet address, ENS allows you to send and receive payments via your .eth domain name.
A step-by-step guide on how to register your ENS domain
Before being able to register your ENS domain, you need to:
What is Lido?
Lido is a decentralized, non-custodial, liquid platform for staking ETH. Users are able to stake any amount and receive stETH (staked ether) in return. StETH represents the deposited amount plus lending rewards, which is updated daily. The current APR for staking on Lido is 5% — you can find the updated amount here. As you might know, APR increases if the protocol has too little ETH staked in order to incentivize more providers.
The LDO governance token is distributed to its DAO members, who are responsible for protocol upgrades, defining parameters, and managing the group of liquidity pools that Lido has. The LDO tokens have a 1-year lock-up period, following a 1-year vesting period. It is up to the DAO, not the user, to decide which pool the stake enters.
Let’s navigate over to Lido and go through how to stake ETH on it.
Hi y'all 👋 RabbitHole uses BrightID to ensure human verification of users so that everyone can have fun in the Metaverse ✨ free from bots and scammers. Once you set up your BrightID, there are more opportunities for you to interact with other crypto applications with full confidence that you are among mensch.
🚀 Let's go 🎢
Watch the full tutorial via the shortened bit.ly links below. I actually taught two friends to do this from beginning to end!
Part 1 link: bit.ly/Part1BrightID
The next wave of influential leaders in web3 are quickly coming to terms with being conscientious, considered, and effective decision makers. People who can both specialize in a target project and participate productively in a broad range of governance discussions.
The future of the decentralized web3 protocols you know and love will increasingly depend on this skillset. There is simply not enough interest in governance and voting from general community members to consistently achieve an effective quorum that captures the majority view.
gm 🐰
When you think about NFTs, written articles aren’t the first thing that come to mind. But Mirror is quickly changing that. In this guide, we’re going to dive into Mirror - a web3 toolkit for sharing stories, funding ideas, and turning text-based content into NFTs - and publish an entry on Mirror of our own!
What Do I Need?
Before we begin, let’s make sure you have your gear in order. To mint an entry on Mirror, all you’ll need is an Ethereum wallet, such as MetaMask or Rainbow.
gm 🐰
DAOs are community cooperation at work - people coming together to create, invest, build, and vibe. In order for DAOs to carry out their operations, they need stuff. And that stuff is often in the form of digital assets like cryptocurrencies and NFTs. When a DAO wants to take their digital asset management to the next level, they turn to a multisig wallet like Gnosis Safe.
In this guide, we’re going to set up a Gnosis Safe ourselves!
gm 🐰
One of the most important aspects of a DAO is collective decision making. So for this stop on our DAO path, we’ll be participating in exactly that by voting on a proposal with Snapshot!
What Do I Need?
Before we get going, let’s make sure you’ve got everything you need. In order to vote with Snapshot, you will need:
gm 🐰
In a previous guide, we voted on a proposal with Snapshot. But there are times when casting your own vote may not seem like the best option. However, there is still a way to put your votes to use - delegation.
For this step of our DAO path, we’ll be delegating LDO tokens to the RabbitHole Metagovernance Pod. This will increase the voting power of RabbitHole’s MetaGov Pod and directly contribute to the positive impact we strive to make on the Lido ecosystem!
gm 🐰
If you’re looking to jump into the world of NFTs, you’ve found the right place! In this guide we’ll explain what NFTs are, we’ll talk about the Zora protocol, and we’ll mint our very own NFT.
What Do I Need?
Before we get going, let’s make sure you have the right tools. In order to mint an NFT on Zora, you will need:
gm 🐰
Buying NFTs to support creators and join communities is already pretty awesome. But you know what’s even better? Buying NFTs with friends! That’s exactly what PartyBid was created for, and that’s exactly what we’re going to do in this guide.
What Do I Need?
Before you head to the party, let’s make sure you’re not forgetting anything. In order to join a party on PartyBid, you will need:
gm 🐰
Welcome to the beginning of your journey down the DeFi rabbit hole! For the first leg of our trip, we’ll be learning how to stake ETH using Lido - a state of the art liquid staking protocol. If that sentence was complete gibberish, don’t worry! You’re in the right place — we’ll be right here to guide you through everything.
What Do I Need?
Before we get going, let’s make sure you have the right equipment. In order to stake ETH, you will need:
gm 🐰
In our previous guide, we staked ETH with Lido and received some stETH in exchange. Now that our ETH is cozy and gaining us some staking rewards, it’s time to put our stETH to work to further compound our yield. This will be a multi-step process, and it starts with using stETH as collateral on Aave - an open source and non-custodial liquidity protocol.
If you haven’t completed the previous task yet, it would be best to start there before moving forward here.
gm 🐰
Welcome to the third stretch of our four part DeFi journey! If you’ve skipped the past tasks, you can head back to the beginning here. Don’t worry, we’ll wait up for you!
When it comes to putting your money to work, the DeFi ecosystem offers a vast array of options. So far, we have staked some ETH on Lido and lent stETH on Aave. Now, it’s time to use that stETH as collateral to borrow USDC!
gm 🐰
Welcome to the final stop of this DeFi journey! To cap off our trek, we’ll be heading to Uniswap, the leading decentralized crypto trading protocol, and providing liquidity to the USDC/ETH pool. This is the final leg of a 4 part journey - if you haven’t yet completed the previous skills you may want to complete those first before continuing on here.
We’ve covered a lot of ground, so let’s take a quick look back at what we’ve accomplished so far. We began our journey by staking ETH on Lido and, in return, we received some stETH. That stETH is bringing us daily staking rewards as long as we continue to hold it. Then, we lent that stETH on Aave. Finally, we used that stETH as collateral to borrow USDC on Aave.
This series of transactions has allowed us to retain ownership of our stETH, continue receiving those staking rewards, and made it possible for us to borrow another liquid asset (USDC) to be further put to work. We will now be using that USDC, along with some ETH, to provide liquidity to a pool and receive a cut of its transaction fees!
In January, RabbitHole launched v0 of our metagovernance pod (the MGP), to empower our community members to actively participate in the governance of our partner protocols. Over the past 12 weeks, our contributors have absolutely blown us away with their work. We’ve executed over 75 votes, voting in a way that represents RabbitHole’s values, amplifies the voice of everyday users, and promotes the sustainability of our partners.
Accomplishments and Contributions
v0 was an experiment to test our community’s interest in governance and the ability for critical strategic initiatives to be led by our community. v0 was an MVP in every sense (nobody would argue that Notion + Discord polls are the optimal governance stack) but in spite of these limitations, our contributors were able to provide enormous value to our community and throughout the broader web3 ecosystem.