I know, I know…everything seems extremely bearish right now. The markets are suffering,
capital is drying up, and confidence is at an all time low. But diamonds aren’t created
in easy condition, but under some of the most stressful and pressurized conditions known to man.
This is true of diamond handed traders as well. You gotta feel the pain, before you get any gain.
So are you ready to rough it out, and get that diamond shine?
Well you don’t really have a choice because it’s time for Chico Crypto!!
Since the end of 2020, December to be exact….Ethereum has been gaining major ground
on Bitcoin. BTC dominated the markets controlling over 71 percent of total market capitalization.
While Ethereum controlled just 10 percent. Since then, Bitcoin dominance has fallen to about
42 percent, while Ethereum dominance has double to about 20 percent of total capitalization.
What happened in December of 2020, kicking off this dominance run? Ethereum launched their proof
of stake beacon chain, and the first step in the merge was completed. The path to the merge has
been continuing for the past year and half, and as of today we are in the final stretch to when proof
of work turns off, and proof of stake officially takes over Ethereum sometime later this year.
Many people are underestimating the significance of this for Ethereum, but even more people are
underestimating the significance of this for web3 infrastructure coins. The merge will be the
beginning of these coins unleashing their true decentralized powers for the world to behold.
So that’s exactly what we are gonna do today, look at the top 3 web3 coins,
which will only become more dominant in the markets once the merge goes live.
The merge is about proof of stake, so the first coin we are covering is the one and
only decentralized staking pool for Ethereum. Now to stake with Ethereum and run a node,
there are some hefty requirements, which includes 32 Ether. With todays prices
that is an over 86 thousand dollar investment. For most people, that is out of reach…which
means they can’t use their ETH to gain yield and rewards from securing the blockchain.
In comes pooling, which is combining different people’s ETH together
to fulfill the 32 requirement…but many of the pooling coins and companies are centralized.
Meaning there is a single point of failure which goes against the ethos of decentralization.
But not rocketpool, they worked and built for years,
creating the first decentralized staking pool for proof of stake Ethereum.
Now the beauty of staking with Rocketpool is the boosted APRs validators receive
and for those who don’t have enough Ethereum…people
can contribute to a validator with just .01 of an ETH and earn yield for staking.
Rocketpool works like this, there is the creator of a validator minipool, which only has to deposit
16 ETH into the pool, then stakers fulfill the rest of the 16 Ethereum by joining the minipool,
which can be hundreds of people depositing varying amounts of ETH, even just .01.
As we can see from the rocketpool website stakers, who contribute to a validators minipool,
earn over 4 percent APR on there eth…but the big rewards come in for being a minipool operator.
Checking out their rocketpool dashboard, we can see the average beacon chain return is
4.51 percent APR, yet staking with Rocketpool, allows validators to earn 5.19 percent due to
the extra commissions they receive. But wait there's more!!….you also earn an APR in RPL
tokens for staking through with your minipool. As we can see, average APRs for staking RPL
is a boosted 13.42% APR, which if you staked just the minimum amount of RPL with your node,
which is 147, you would earn an extra nearly 20 RPL tokens, which turn out to be .21 of an ETH.
So who doesn’t want those nice returns for their sitting idle ETH and RPL tokens? I sure know I
do…although setting up a minipool through normal avenues requires technical knowledge, and the use
of command line, it’s not hard and doable, but for newbies it can be waaay over their head.
Luckily Chico Crypto has an Avado, the plug and play blockchain computer for running nodes.
Making it easy to set them up. I bought my Avado all the way back in December of 2020, so I could
solo stake on Ethereum, which made it seamless and easy to get me earning the early ETH rewards.
Avado now supports Rocketpool minipools, and i just want to show you how easy it is to get set
up. First you need to download Ethereum’s mainchain, which is GETH and Ethereum 2
the proof of stake chain, Teku or Prysm. Since I’m already running an ETH2 validator on this,
I already have them installed. Now you need to go to the Avado dappstore,
and download the Rocketpool client. After downloaded go to my dapps, and open rocketpool.
Next click start setup, and set a password for your hotwallet used to create the minipool.
Once set you will then need to download a backup of this wallet. Next you need to fund the wallet
with 16.4 ETH, the extra .4 is for transaction fees and the RPL you will need to stake,
remember minimum is 147 RPL. Once you send the transactions to the wallets public address,
it will take you to the register node screen. Click register node, which
will submit a transaction and register the node. Next you need to submit your withdrawal address,
which will be the address you receive rewards at, and when or if you exit validating, your Ethereum
and staked RPL will be sent to too. Once set, click set withdrawal address and it will submit
a transaction. Now you are ready to set your minipool, 1st you need to approve RPL by clicking
the approve button. Once approved you need to stake your RPL by clicking the stake button,
and then you need to send the 16 ETH to the pool by clicking depost 16 ETH and create minipool.
Once all those transactions are approved and in the green, you will be prompted to download
your rocketpool backup data..download that, and then click go to status page.
Your minipool should show up, in prelaunch and should be initialized in about 12 hours.
Easy peasy lemon squeezy, and I’ll be earning those juicy APRs very soon. And if you want an
Avado, for making web3 and node running easy, a link to buy is down in the description. I highly
recommend them. Now I have 2 other “node projects” who are going to surge with the merge…but
before we get into that it’s time for a sponsored segment of this video brought to you by Router
protocol, and like always the full details of our agreement can be found in the description.
Router Protocol, the future of cross-chain bridging and swaps that acts as an infrastructure
layer enabling communication between blockchains. Since launching their alpha mainnet earlier in the
year Router has raised the standards of what users expect from a cross-chain platform because they’re
not just a transfer bridge like 99% of solutions. Router is building a Mesh Network which allows for
tokenized assets to be launched and mapped on multiple chains without fragmenting the assets.
Basically Router has the infrastructure to bring new use cases to interoperability
that are currently unavailable in the market like cross-chain NFT transfers,
cross-chain settlement of borrowed capital and even optimized cross-chain farming strategies.
Not only is Router more capable than other bridges and cross-chain swappers, they’re also more secure
with fully on-chain validators and are not limited to which tokens they can support… in addition,
their transaction times are currently clocking in as the fastest in the space. If you launch
their mainnet app xSwap and give it a whirl you quickly come to realize their U/I is super clean
and intuitive… users can currently perform seamless token swaps and bridges on Polygon,
BSC, Avalanche, Fantom, Arbirtrum, Optimism and Ethereum… and more networks on the way.
Furthermore, users can choose which token to pay their fees in whether it be USDC,
the native token to the source chain of the swap or in Routers $ROUTE token or even in $DFYN…
the token to Router Protocols own cross-chain DEX Dfyn.
The team behind Router is stacked and has years of experience launching successful
blockchain projects and are backed by some of the smartest money in crypto
including Coinbase Ventures, Polygon and Alameda Research
and were recently included in BSC’s Most Valuable Builder accelerator program.
And if you’re a web3 developer working in this space or building a project
you’ll want to check in with Router as they have just unveiled their xSwap Widget
and CrossTalk library that will allow developers to unleash the power of Router Protocol to assist
in building cross-chain dApps. CrossTalk is a framework that can be used by any existing
or new application allowing smart-contracts to interface with contracts on entirely different
chains. Building a cross-chain product is difficult… CrossTalk is a plug and play system
that magically converts every single dApp into a cross-chain application and gives developers
complete control, helping devs and teams save countless hours of time and stress when
integrating complex cross-chain architecture. In addition, Router will be looking to extend support
including marketing assistance, networking opportunities and rapid grants to teams that
want to help build true cross-chain projects and promote the overall growth of web 3.0
Router Protocol and their $Route token are redefining what interoperability truly means.
They’ve reached every milestone of their roadmap and are aggressively continuing
to build out the future by partnering with web3 devs and blockchain projects
by offering their tools and CrossTalk library to the entire ecosystem. If you’re a trader visit
the xSwap app next time you have a cross-chain transaction to make and you’ll see just how
easy and quick it is to use … and if you’re a web3 dev or a blockchain project make sure
to visit their discord and reach out to the team to get more insight on the CrossTalk library and
how you can partner with them and integrate the technology. Links can be found in the description
Now back to the two of my favorite web 3 node projects
and the first one is critical to web3’s decentralization. That is Pocket Network…
Pocket Network is a decentralized API designed to help Web3 applications communicate with blockchain
networks through an exhaustive network of over 46 thousand nodes.Pocket provides RPC,
Remote Procedure Call access to the ever growing list of blockchain
including Ethereum, Solana, Avalanche, Polygon, Gnosis Chain and nine others.
Pocket is growing exponentially month after month, doinly 221 million relays in July of last year
to over 21.5 billion for the month of April this year…a growth of over 10,200 percent in just
9 months…shoot from March to April, the network increased by 9.7 billion relays,
an increase of over 82 percent in a single month.
So what type of rewards could one see for running a Pocket node? Well to run a pocket node,
you need to stake 15,000 POKT. Last month the average earn across all nodes, was 1734 POKT. If
we multiply that by 12 months, that gives us 20808 POKT earned, which is an APR of over 138 percent!
So how do you run a node? Unfortunately Avado doesn’t support Pocket nodes yet,
so to set up a node and to begin earning the juicy rewards,
you need technical skills including knowledge of how to use command line.
Although, there are some services out there if you don’t want to dive down the technical rabbit hole.
There is Pocket Pool, which is a high performance pool of nodes designed and
maintained by experts.Thus there is no minimum requirement of tokens,
you can contribute to the pool and begin earning compounding rewards with any amount of pocket
tokens. There are also node running services, like the most popular Cod3r…which takes a cut
of your rewards for hosting the node with them or you can pay a flat fee if you have multiple nodes.
Now we are going to finish with a web3 allstar whose existence is critical to almost
every chain, dapp, and transaction across the blockchain ecosystems.
That is the decentralized oracle network better known as Chainlink.
Link, is soo stink everytime i talk about it, I automatically get a poop face. And Chainlink
dropping out of the top 10 coins, out of the top 20…to #30 where it is today, screams BUY ZONE as
the network is getting upgraded big time, TWICE this year. Staking will be dropping,
as well as the 1st iteration of the CCIP, it’s cross chain interoperability protocol.
But let’s talk about running a node and staking. I’ve predicted for some
time that staking for LINK would happen at the end of this quarter,
which would mean by the end of June…less than 2 months away.
So how to get prepared? Well setting up a chainlink oracle node is the most
technical of all, and it’s not for the faint of heart. Although there will be a node provider,
who has been building a staking pool service when staking finally goes live. That is Linkpool,
which will let users select from curated lists of
professionally managed nodes and pools and share in the staking rewards.
So, there you have it my friends…even when the markets are down, there is a way to earn….these
projects are all critical to web3, and web3 isn’t going anywhere. Cheers I’ll see you next time!