Technology, Finance, Entrepreneurship
For folks who’d like to dive deeper into the intricacies of yield farming on Arkadiko, read on as I share my experience interacting with Arkadiko.Finance.
The front-end of Arkadiko Protocol went live at Stacks block 34620, after connecting your hiro web wallet, you’re greeted with a sleek UX where a tutorial prompt will walk you through the basic functions of Arkadiko. At launch, users are able to open a vault, swap digital assets, provide liquidity in pools and staking of DIKO.
Shopping has historically been identified as therapeutic, which helps in emotion regulation and better well-being, a term more commonly known as retail therapy. Additionally, it’s always part of the thrill to shop around to find the best deals, looking for matching credit card reward points, or exclusive offers. That serendipity of finding a good deal just makes shopping all the more fun, a period for bonding among family/friends, a time to chill out and relax, but more importantly an activity that intrigues your senses by finding what you love and owning it.
Hyperinflation brings about detrimental effects to societies, as prices of all goods and services rise rapidly over a short period of time, whereas your income and savings remain stagnant, thus leading to a significant decrease in purchasing power very quickly.
Globally, there are several countries plagued by hyperinflation or generally high inflation due to unsustainable monetary policies, fiscal policies, which led to the devaluation of their local currencies in foreign exchange markets thereby eroding the purchasing power of the government, businesses and its citizens. This sets off a ripple effect where the state would no longer be able to afford to maintain public goods, businesses unable to compete internationally and individuals no longer have the purchasing power to improve their lives, thus leading to an economic collapse and social breakdown.
In the article below, I set out to make a case on how countries plagued by hyperinflation can overcome it through the adoption of Bitcoin and reap the benefits of paying Bitcoin as a universal basic income (UBI) through Stacks’ Proof-of-Transfer (PoX) mechanism.
Non-fungible token(NFT) has been the talk of the town since the turn of the new year, especially with the sale of Beeple’s US$69 million NFT art at Christie’s. NFTs was largely popularized by Rare Pepes, Crypto Punks & Cryptokitties on the Ethereum blockchain in 2017 but do you know that the history of NFTs can be traced back to 2012 on the Bitcoin blockchain(Colored Bitcoin). Where Yoni Assia discussed coloured coins as unique and identifiable and was part of the “Genesis bitcoin transaction”.
So what exactly is a Non-fungible token?
Fungibility is most commonly defined as “an item is replaceable by another identical item”. E.g. Fiat currencies, a 20 dollar bill has the same value as another 20 dollar bill where users do not differentiate them and counterparties do not possess any discrimination against one over another 20 dollar bill. Non-fungible is the exact opposite of this, where each item is unique on its own, and people place different value on each item. In the physical world, items that are non-fungible ranges from artwork, music, to personal items where they are largely non-fungible. Non-fungible token represents ownership of a digital asset that is unique on its own on the public blockchain. A more in-depth discussion about what NFTs are can be found in the NFT bible.
The release of the Bitcoin white paper by Satoshi Nakamoto in 2008, gave rise to a new technology(Blockchain), and initiated a movement towards greater decentralization.
Bitcoin started off within a niche community of cryptographers and computer scientists, but gradually expanded across the globe to individuals from all walks of life. The beauty of decentralization is the inclusiveness that the community offers to everyone, where anyone who believes in the project is welcome to be part of it, through hodling(misspelling for hold) the token and/or contributing to the project in other ways.
What is DeFi?
Decentralized Finance (DeFi) has been in the spotlight in recent months, with several DeFi projects gaining traction and their tokens soaring in prices have attracted a lot more attention. But what exactly is decentralized finance and what can it do that traditional finance couldn’t?
DeFi represents an ecosystem of financial applications that are built ontop of blockchain networks. Financial applications ranging from borrowing/lending, to owning fractional assets through tokenization and peer-to-peer transactions.
Bitcoin, chances are you’ll have come across the word one way or another through various medium. Either through news outlet where commentary reports about Bitcoin were mentioned, or within your social network where friends and family mentioned and/or discussed about it. While everyone has a take on what Bitcoin is, but its still somewhat challenging to explain Bitcoin in layman’s term for the average Joe. I experienced the same too, whenever I’m asked by family and friends, what is Bitcoin, what does it do? How does Bitcoin has any value? Those are all legitimate questions, and through this article I look to answering all those questions.