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. 

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).

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.

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.

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)

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. However, as so eloquently described by venture capitalist and prolific essayist Matthew Ball, there is 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 described by 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.”

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.

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?

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.

In this tutorial, you’ll learn how to mint your own NFT on OpenSea.

What you’ll need

1. Metamask/Rainbow wallet (or another web3 wallet)
2. ETH for gas fees

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. 

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 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:

1. The amount of Liquidity in a pool
2. The size of your order
3. Other market conditions (ie other users performing swaps on with the same pool at the same time.)

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 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.

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.

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.

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.

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.

✨ 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!

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.

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.

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. ​

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.

✨ 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!

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 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.

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 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.

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

• 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.