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.
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.
I’ve created some Stacks education materials that addresses some of the common questions that end users may ask when they first come across Stacks and/or using dApps built on Stacks blockchain. I’ve kept it in a very basic modular format, with the aim of allowing creators and developers to freely use them and build on top of it for their own need.
Each folder contains: Video with narration, Video without narration, Audio-only, Text only