If you’ve been in crypto for any amount of time…you understand that one of the biggest
use cases comes down to the trading of these assets.
People like making money…
And the way to make the most money in crypto with little capital is using perpetual DEX’s.
Many people use them across the world, Thus many of these DEX tokens are doing extremely
well.
So are you ready to uncover the winning DEX of this coming bull cycle?
Well let’s play some peek a boo, because it’s time for Chico Crypto!!
Everyone knows I’m a BIG fan of GMX, which I’m going to talk about a bit in this video,
but the meat of this content involves some brand spanking new DEX’s…
But let’s talk about GMX, GMX v2 has finally been released…and since the release..GMX
is getting the FUD slung at it, resulting in weak hands capitulating left & right.
Everyone expects GMX v2 to blow up overnight, 100s of million of dollars in volume.
It’s going to take some time my friends ... .but in my opinion, eventually GMX v2
is going to take over GMX v1, and have the largest chunk of decentralized perpetual volume.
If you didn’t know, it took v1 some time to catch on to the markets.
As we can see from GMX volume from all time, in the beginning, volume was just millions
on average, it took months for the volume to crack 100 million for the very first time.
Checking out trading volume stats on GMX v2, we are seeing volume in the millions as of
right now, although v2 has cracked 20 million quicker than GMX v1.
I wouldn’t doubt, within the month we see GMX v2 crack 100 million in trading volume
& sometime towards the end of the year we will see v2 crack 1 billion in daily volume.
But speaking of GMX this leads us into our first Brand New crypto projects revolutionizing
the DEX perp industry because this one is giving me super BIG GMX vibes….
That project is Good Entry, the first perpetual DEX that allows a new DeFi primitive…Protected
Perpetuals…
First, what are protected perpetuals & why am I excited about them?
Well these are designed to protect traders from sudden price movements and scam wicks,
a major problem in the perpetual space.
How do they do this?
Well traders can never be liquidated by price.
Only by time…
When a position is open, traders pay for protection on their positions on a block-by-block basis
from their margin.
For example, a Trader opened an ETh long position at a $1,900 activation price for 8 hours.
When the market price declined from $1,831 to $1,771.
Instead of taking a 3% loss, the trader lost 8 hours 8 * 0.005 = 0.04%.
These losses are negligible compared to the actual losses had a stop loss kicked in on
a normal perpetual exchange….
So why does this remind me of GMX??
Well GMX revolutionized the perpetual DEX game, by creating a simple way to trade perps,
that was user friendly….and the yield from the DEX was given to the token holders….aka
it was a simple , real yield exchange,....
Protected perps are even more user friendly…as they have solved one of the biggest issues
plaguing perps in crypto…short term manipulation of price to liquidate the range of perpetuals
that will be liquidated at the price…scam wicks in the charts up or down.
Another feature like GMX is real yield!!
From Good Entry documentation we can see they say “ezVaults offer a user-friendly “set-and-forget”
strategy for yield farmers to earn passive income generated from real yield sources in
the decentralized finance (DeFi) ecosystem.
ezVaults are similar to GLP popularized by GMX.
And then they show the sources of this real yield below.
EZvaults are very similar to GMX’s GLP…but just like GMX, this is a community focused
project with zero pre-sales, or VCs…those entities that get the tokens for cheap, and
then dump on you…a Louround on twitter has a great thread on the project, but he says
this about it.
“Good Entry will become a community-owned project by launching the $GOOD token.
They did not raise any VC or pre-sale funding!
You can already accumulate tokens by providing liquidity to the ezVaults and making trades
on the platform for a potential airdrop”
Yes my friends, the token isn’t out just yet.
They launched their product, before launching a token.
How is should be….but you can get yourself in a solid position to receive this airdrop,
by using the platform & by providing liquidity in their EZvaults…
This isn’t just a potential one either, it’s coming this year…connecting a wallet
to the platform, we see a spot pop up for the GOOD token, clicking on this it says “50M
$GOOD rewards will be airdropped after a 4 month liquidity mining program.”
Trade, provide liquidity, what else can you do to get in the best position for this BIG
airdrop??
Well as we can see there is a section on their application called quests, Clicking on this,
it takes us to a community quest board from on zealy….I’m definitely going to be completing
as many of these as I can, because I’m sure they will factor into the airdrop & the more
you have completed the bigger your rewards.
Although, what about a NEW perp DEX with a token that is already out?
Well before we get into this crypto, it’s time to cover the sponsor of this video SEND…and
like always the full details of our agreement can be found in the description…
What’s it gonna take to onboard the masses into crypto?
We need a simplified user experience and services they already use.
The ERC-4337 standard, also known as Account Abstraction, is the catalyst to make this
happen.
On my livestream a couple weeks ago I mentioned a project called Send, pioneers of this new
tech, well the Send community and founder heard I was talking about them and reached
out wanting to return the favor and support the channel, encouraging me to expedite my
deepdive into Send…many thanks to the team!!
So what is SEND?
Well they are revolutionizing the way we interact with cryptocurrency by simplifying its entry
point through its integrated ecosystem developed to elevate user experience and utility of
crypto payments.
A huge part of that is familiarity.
Send has secured itself some of the most powerful IP in all of crypto.
First is the Send-dot-it domain.
Send-dot-it is arguably one of the strongest domains in all of crypto.
Add to that, they also just secured the @Send handle on X, alongside securing the official
trademarks for Send and Send App.
They have the IP on lock that is certain to help drive their products and attract the
masses
Send is comprised of a few major components, the Send App which is the central platform,
Send Tags for user interaction, the Send Token for seamless transactions and Send Auth for
secure authentication
The Send App is the seamless and secure CashApp or Venmo for crypto, coming soon to both Android
and iOS.
Utilizing Account Abstraction, Send App turns mobile phones into Hardware wallets, eliminating
the need for seed phrases, allowing users a normalized experience using dapps without
paying gas fees and eliminating the need to approve every small transaction in addition
to customizable security.
Send App streamlines transactions with their user-friendly design empowering you to effortlessly
send, receive, and manage ETH and Stablecoin transactions with ease without sacrificing
security
Send Tags launch at the end of the month, not only provide an immediate revenue source
but will play a key role in simplifying the user experience across crypto thru easy-to-remember
identifiers that replace lengthy wallet addresses by linking Send Tags like @Tyler or @ChicoCrypto
to your Ethereum wallet
The Send Token is used for transactions, including gasless transactions, in-app services, and
loyalty rewards within the Send App ecosystem, fostering a smooth user experience.
With its recent launch the Send Token is surely one to keep an eye on
Send Auth helps eliminate the need for private keys with one-time-passwords, serving as a
specialized mobile authenticator akin to Google Authenticator, but with greater encryption
capabilities, and just as easy and familiar to use
Send is just getting started and to help encourage adoption are doing a massive release of token
airdrops and distributions to their holders.
A grand total of 20B Send tokens released over the next 20 months, Don’t miss your
chance to be part of the next revolution in crypto, Account Abstraction and the leader
in the space Send.
To get involved all you have to do is secure your own Send Tag and link to an ETH address,
verify thru SMS and hold some Send Tokens.
To ensure you don’t miss a thing, make sure to follow the @Send twitter handle, join their
telegram channel and visit their website send-dot-it.
Even though these are some of the easiest and most recognizable names in all of crypto…
links for everything Send can be found in the description
Now back to that Brand New Perp DEX…with a token released.
Everyone has been talking about Coinbase’s Layer 2, Basechain…it has the attention
of the markets, it has the HYPE….
Which means a solid Perpetual DEX on Basechain, is likely going to have HYPE behind it & surge
in the coming months.I believe I have found just that…
The project is KRAV!!
From their website, we can see they are also innovating the Perpetual DEX space.
Krav allows you to “Trade Bitcoin with leverage, using any altcoin as collateral”
Yes you heard that right, traders can tap into their shitcoin inventory, memecoins like
PEPE, and use them as collateral to open long or short positions on BTC…this feature,
any asset as collateral quite possibly could open the trading floodgates on KRAV…why?
Well with Krav, low-volume altcoins can be used, to gain exposure to BTC and eventually
ETH volatility.
And this DEX is also all about REAL YIELD!
From their documentation they say “30% of the fees generated from swaps and leverage
trading are converted to $KRAV and distributed to staked KRAV tokens….just like GMX!!
Now the application is live and ready to go…it’s the first functioning perpetual exchange on
Basechain…but the team has their heads down and building…just a couple days ago, the
Krav on X said “Our holders have spoken.
We are implementing degen mode: • x50-x500+ leverage on $BTC using any altcoin
as collateral • High APY for staking coins like $TOSHI
• Leaderboard with $KRAV rewards to the highest % weekly gain
• $KRAV buyback and burn from fees
Sooooo….what’s the marketcap of this badboi??
Well checking out Coingecko, it’s listed and the token is trading at over .003…but
the circulating supply isn’t updated so no current marketcap….
So we have to go to the X app, to find out the current marketcap based on the true circulating
supply.
Altcoin Hero on X, has been tracking BASEchain coins, and they tweeted this just yesterday.
That Krav only has about a 3.7 million dollar marketcap!!!
Yeah….KRAV is looking real juicy to me…Well viewers, if you enjoyed today’s content
make sure to subscribe!
Follow me on my socials @ChicoCrypto & @leaksblockchain on X, ChicoCrypto on Instagram, and of course
come join the chat on telegram.
t.me/chicoccrypto.
Links for all of them are in the description…Cheers I’ll see you next time!!