Well isn’t this nice to see. The bulls are back in town!! No longer do the bears
have full control of the markets, and the bulls are dancing around the china shop.
Well this channel is about to do a hokie poike. Are you ready to dance with us, I’ll start by
putting my right foot in. Because it’s time for Chico Crypto..and that’s what it’s all about!
Yup there is no doubt about it the markets have flipped bullish for the first time
in a long time. Pulling out the 30 day price chart, things looked terrible throughout January,
especially when the cliff dive came January 20th, dropping BTC to 33k.
But since that low, the price has been steadily making higher highs and more recently we have
pushed up extremely hard…breaking and holding 41k, and as of yesterday pushing up towards 45k!
If things keep moving like this…there will be an abundant amount of opportunities in the crypto
space to make solid gains! Altseason will come, and altcoins will go wild.
Although what happens when the party is over? Remember the last bullish cycle we had began July
20th after that bottom and it ended November 8th. This was only 4 months, a quarter of a year.
Yes a lot can happen in that short amount of time,
but in crypto 4 months goes by in a flash. In the blink of an eye…if
you aren’t setup for the downturn, the gains made during the bullish time can be gone in a flash!
So that is what we are going to talk about today. Getting yourself set up for a downturn
through passive income. We are going to look at the best DeFi protocols, nodes, and strategies…
So let’s begin! Starting with a platform focusing on NFTs…as they are super hot once again.
January saw an all time high for NFT trading volume..Now
which NFT marketplace saw a majority of that volume?
Many would guess OpenSea…but you are wrong. As we can see from dappradar
the largest marketplace by volume over the past 24 hours has been LooksRare,
over the past 7 days LooksRare, and even over the past 30 days is once again LooksRare.
And Looks Rare has some insane passive income opportunities right now.
Going to the Looks Rare hub, we can see that for Staking Looks, the APR is over 528 percent!
Now why such a high APR? Well as we can see going to a breakdown of the APR, it is split
between Looks tokens you receive for staking, and wrapped ETH. Yes for staking Looks, you get
Looks token but also a bonus of wrapped Ethereum. The wrapped Ethereum comes from the trading fees
of the platform…the more people use Looks Rare and trade on it, the more fees that are taken in
wrapped Eth, and that wrapped ETH is distributed to the stakers, thus the higher the APR!!
And like I showed, the volume on Looksrare is bubbling like crazy, NFTs are going to go through
another bull cycle… so this is a definite passive income opportunity, I’m not gonna pass on….
So we talked about passive income through NFT
marketplace infrastructure…but what about protocol leve core infrastructure? Like running a node?
Now for this, you do need some technical chops, you will be frustrated trying to get it setup,
but once you do the payoff is well worth it and the passive income starts rolling in without
any more work on your part, just making sure the node stays online…
And my #1 passive income node is…Pocket Network and running a service node!!
Now for those who don’t know what pocket network is, it’s a middleware service
which connects applications, wallets, and even block explorers to the blockchains.
These are done through Remote Procedure Calls, RPCs. Pocket Network is a decentralized network
made up of service nodes, which provide relay and RPC calls to blockchains.
Now over the past 6 months, Pocket has seen an exponential explosion in relays to blockchains.
In August of 2021 there were only 9 million relays being, by
the end of January the relays were peaking at over 355 million relays.
Obviously the network is showing no signs of slowing down!!
Which is even more obvious from the number of nodes processing these relays on the network.
This has gone from just above 4000 back in August to over 27 thousand today!!!
I wonder why so many nodes are coming online?? Well it has to do with the rewards!! As we
can see the rewards for POKT nodes has been seeing an overall uptrend since August…with
rewards today being about 100 POKT per day!
Pocket tokens are currently worth $1.36 cents. So that is nodes earning 136 dollars per day!!
Or that is over $4200 dollars per month, or nearly 50 thousand dollar per year!!
Now there is a requirement for running a node, you do of course need to set it
up. I have included the quickstart build in the description if that’s something you are
looking to do. But also, service nodes have a required POKT stake, of 15000 thousand tokens!
Now some people might let out a sigh, 15000 POKT is a minimum investment of over 20 thousand
dollars…Well soon you will be able to stake any amount of pocket tokens. Pocketpool is coming
soon, the first automated fractional staking pool. Kind of like rocketpool for the pocket network….
Well that leads us right into the next passive node I would like to talk about…Rocketpool!!
Running a rocketpool node has the best reward to risk ratio.
Rewards are not as high as others, but still pretty tasty, yet the risk of running it is
probably the lowest. The chances of rocketpool getting exploited are slim compared to the others.
Now the beauty of Rocketpool, is it allows passive income on your Ethereum for larger holders and
smaller holders. You can stake with Rocketpool node runners with as little as .01 of an ETH,
and earn 4.33 percent APY…but the real rewards are made by being a node runner.
As we can see, Rocketpool node runners can earn 6.36 percent APR on their staked Ethereum,
which only has to be 16 ETH instead of the normal 32 for running an Ethereum staking node…but
they also get a variable APR from rocketpool rewards…
How much is that? Well we can check out this dashboard of RPL mainnet stats.
In the orange section we can see the average RPL claim for the period coming up, which
is running from January 20th to February 17th. The average RPL claim will be 90.11 RPL tokens.
The price of an RPL token was over 35 dollars as of yesterday, so nodes are receiving an
extra 3178 bucks in under a month! That is nearly 40 thousand extra dollars per year!!!
So if you have the Ethereum, at least 16 I would definitely get a node setup for Rocketpool,
the rewards are too juicy not too!! I have included the links
for the options for Rocketpool staking nodes down in the description as well!!
Now that we went through some of the best passive income nodes….let’s finish it off with Stables.
Yes the place where you can get some of the best passive income off of those stablecoins!!
In a bull cycle it’s best not to be in stables, but if another bear cycle takes over
and eventually it will…being in stablecoins is going to once again take off!!
Now one of the best and safest places for a stable earning has to be with GUSD. They provide
8.05 percent APY that compounds daily, and this is instantly swappable for USD through their
application. As we can see, from just a 10,000 dollar stable investment, in 1 year the rewards
would equal out to over 800 dollars…which of course compounds and grows over time.
There are others out there that provide higher rewards,
but I don’t think they are as safe as USDC. There is Voyager, which provides 9 percent for USDC…and
then there is Anchor protocol, which is providing nearly percent for UST..
Although we do have to mention, a stablecoin based project who is providing some serious rewards
through their governance token and beyond.That is Convex finance. Going to their dashboard, we
can see over 50 percent APR…when you convert CRV, curve tokens and stake them through the platform!
As we can see from the breakdown, you are getting 3 rewards, CRV curve tokens, CVX convex tokens,
and 3CRV tokens…plus any airdrops which isn’t counted in the APR,
and some people are saying with the extra airdrops, its as high as 56 percent APR!
Passive income is setting yourself up for long term gains which will keep rolling in, even when
the markets turn bearish and the beginning of a bull is the time to identify the top ones.
Cheers viewers, I'll see you next time!