Be Fearful when others are greedy, and greedy when
others are fearful…or something like that. Yeah, we smelt FEAR in the markets as BITCOIN
collapsed taking everything down with it. The Rising sun of cryptocurrency fell & with a
snap of the fingers & darkness took over. I just want to remind you, dawn always returns & so does
the light…because it’s time for Chico Crypto! Most will be turning bearish right about
now especially if we have continued to dip, I shoot these vids 24 hours in advance, I
don’t know….but that doesn’t matter to me. Up or down. I’m a fundamentalist who looks
for opportunities even in falling markets. Although I won’t short, because I like
crypto & I wan’t it to succeed & don’t like making money on something
that is made to hurt asset prices.
So, I’m sure some of you are asking the question
right about now: “How in the heck do you make money in falling markets if you are not
shorting with leverage or using options? Well you find hyped projects who are giving
away their cryptocurrency for free through an airdrop! And before we find out what it is, we need to understand why I think
this one could be successful… So, Ethereum needs to be scaled. It needs some
layers to alleviate pressure to it’s main chain. That is why you have seen those
who are pushing that narrative, even if they are really there to “HELP”
pushing up…BSC, it moved up significantly, using the wayback machine at the beginning of
december it was sitting at spot #10 on coingecko, and just over 4 billion in cap…Binance since
december has only gained over 36 billion dollars in market cap.
Up the #3 spot… and many of
its dapps pushed up as well, following a similar pattern, especially if it was a swapper.
including it’s most popular swapper, pancake swap. Pancake swap at the beginning of december was
sitting at spot #251 on coingecko, at just over a 28 million dollar marketcap. Today, its
rank #52 and a 1.683 billion dollar market cap…. Much WOW! Such gains for binance ecosystem
holders…but Chico doesn’t want no part of that, as with BS-C it’s as centralized as it gets with
one entity controlling all nodes.
But that shows a pattern, a narrative that could outflow into
other projects who hold more decentralization. Xdai broke out as Binance broke last week…
but there are still weird things going on with xdai. They are becoming very friendly with BSC,
officially completing a bridge to their chain last week too & in xdai documentation they
now fully promote the bridge with an example of tokens that can be bridged….Tether
USDT. What in the freak is going on? Why Tether when you are xdai…where is the
dai? We know binance loves Tether…not xdai… I’m still hodling my xdai, but it’s getting close
to losing my grip. And this begins to lead us into that airdrop. So I’m eyeing other layers that
are not about to just bend the knee right away. There bridge is focused on helping Ethereum
1st, not bridging right away to BSC.
And Avalanche AVA is one of those
projects, I have been eyeing. And just like BSC since December it has
been moving & a grooving. December 1st AVAX was ranked #116 coin coingecko…today
it has moved up significantly to rank #37… And now is the opportunity to obtain their
BIG swapper. The Pangolin exchange…and of course it comes from an airdrop. As we can
see from their token distribution breakdown, 100 percent of the tokens
are going to the community, 95 percent through liquidity mining and
the initial 5 percent through an airdrop.
Scrolling down to the airdrop information. They
said “The airdrop allocation will be distributed on the basis of ownership of UNI and SUSHI.
In order to claim the PNG in the airdrop, UNI and SUSHI holders that had tokens on December
7th, 2020 will need to call withdraw on a distribution contract. This transaction must
be from the same address that holds UNI/SUSHI on Ethereum and must be sent within one month of
Pangolin’s launch” with the steps to claim below. 1 month to claim & many of us received the
uni airdrop, and held…which means that wallet is eligible for this airdrop. Many of
us used sushi by December 7th….those wallets are eligible too. So since that is True,
I’m gonna go through and show how to claim this drop. And since Ethereum gas Fees
are high…you may want to wait until the gas fees are reasonable, especially if
your claim of PNG isn’t that many tokens.
The example I'm showing today. Is for a wallet
with 418 UNI tokens held in that wallet…So 1st you need to add the avalanche network to metamask,
easy to do, just click the networks as the top, scroll down to custom RPC and enter the
avalanche data in each respective box in metamask…click save & you should be
switched to the avalanche network…and make sure you are connected to the
wallet that held the UNI or Sushi… Now, go to the actual pangolin exchange, and of
course links for everything and instructions are below. If your on the avalanche network, and
connected to the wallet with the UNI, when you click on Airdrop, it should read how many you are
able to claim. For this wallet, which had 418 UNI, it gets 79 PNG tokens…but as you can see,
to be able to claim them you need an actual sushi or UNI token on the avalanche network.
The UNI we have are still over on Ethereum. So to claim we need to get at least 1
in the wallet, on the avalanche network.
And to do this,you need to use the bridge….the
avalanche ethereum bridge. But holy smackeral the FEEs…like I said, some may want to wait.
You need to switch back to the Ethereum network, if you want to go from Ethereum to Avalanche, and
then at the bridge connect to Metamask…switching to 1 UNI to transfer to ourselves, the bridge fee
is over .13 of an ETH or $226 dollars. YIKES…. So, what to do? Well, I decided to
take a position in Pangolin…right now, not just an airdrop, but a solid altcoin
position…the larger the trade, the less of an impact on the high gas fees right now. I see
the narrative of BSC and it’s pancake swap, thus I think for a better, more decentralized
version of pancake, Pangolin might start moving. Especially when you check out the
stats…liquidity and volume have been surging since its launch, over
200 million in liquidity and over 35 million in swapping volume…Pangolin is
gaining steam and gaining steam quick.
So Crossing the bridge & getting into Pangolin, what would be the easiest way of doing that.
Well using the token explorer for the exchange, we can see the top liquidity and volume pool is
the PNG, wrapped AVAX pool. Thus the route I’m taking is wrapping Ether, my liquidity, sending it
across the bridge, swapping the wrapped Ether from AVAX, and then making the
Pangolin trade through that pool. But you do need that little
bit of AVAX 1st for fees, maybe a friend can help you out that hodls
some, if not the only way to get it right now it with centralized exchanges.
what, you need a small amount of the tokens for fees…they should have a faucet,
just a recommendation Avalanche. Since fees are so low on Pangolin,
it’s cheap to swap around, from wrapped Ether to AVAX to Pangolin, or
just straight through from the wrapped Ether to Pangolin. It’s nothing like Ethereum,
once you get over….but, if this is the wallet that can claim the airdrop, all you
need to do now, is take some wrapped ether, avax, or pangolin and swap it for that
one UNI or Sushi on the avalanche chain….
Or if you don’t have the liquidity, but can claim,
wait for better gas prices…that’s all you can do as it’s expensive to cross the
bridge, no matter who you use…. So we here at Chico, we spot the narratives,
we understand that even in downturns there are opportunities in crypto. Airdrops, exchanges,
swapping…it’s ramping up, but we here at Chico try to make doing a backflip as easy as
possible. Cheers I’ll see you next time!.