Let’s talk about alts baby,
let’s talk about you and me…let’s talk about all the
good things and the bad things, altcoins bring! Let’s talk ALTS…you know
our Salt N Pepa..it’s time for Chico Crypto! Yes today, we are bringing the heat with
altcoins. A flurry of altcoins alpha and informations that could make your head spin!
So keep that head screwed on tight. You don’t want to miss this altcoin alpha! So let us begin
with my favorite savior of MEV…alchemist coin! There has been big news dripping from
the alchemist faucet which needs covered as alchemist coin is changing the
decentralized exchange game through MEV. Alchemist Developer Nathan Worsley dripped
the news late last week saying “MistX now has positive-value MEV extraction built in. If
your trade generates MEV, we extract and give you a kickback. The process is transparent
and free of frontrunning. Positive-value extraction funnels MEV back to where it rightly
belongs: the hands of users who create it. What this means, is if a transaction on
the DEX would have been sandwiched and MEV extracted from it, and the user traded through mistx…the value savings of that potential
extractions are now distributed back to the user.
So going to the flashbots MEV leaderboard, we
can see the some of the latest MEV transactions, and looking at the MEV transaction sender income
column, there are a couple transactions that almost equal 1 million dollars in profit for
the MEV extractor…the miner who sandwiched the trader was able to extract nearly 1
million dollars from the DEX user and trader. If the trader would have used mistx,
an extraction of that size could have been stopped as transactions go through a private
mempool called MEV-GETH where miners take tips to route the transactions privately. The MEV savings
that mistx provided were in the past given to the mist community as a whole. Savings were sent
to the alludel rewards program and enriching alchemist crucible holders…but now a portion of
the value saved is routed right back to the user! At the mistx exchange they now have a leaderboard
button, and clicking on that will show the biggest rewards given right back to the traders,
through positive value MEV extraction. Making a trade on mistx, now gives you the right
to take back what is yours.
Your value! MistX is the first, cashback, or Ether back
exchange in the history of cryptocurrency. But what most people don’t realize
is…mistx isn’t a decentralized exchange. It’s a decentralized exchange
layer that works on top of DEX infrastructure. Initially MistX was built to
work on Uniswap v2. It was layered on top, so users could use the mistx UI and interface
to protect their trades with v2 liquidity pools. What this means is MistX can be used by
exchanges and integrated directly into their DEX.
Which seems to be happening with
the biggest swapping DEX out there….Uniswap! So earlier in September, a $DeFi on twitter
tweeted a screengrab of a Uniswap interface, which showed frontrunning protection through flashbots
and mistx integration directly into the Uniswap UI. This was just a screenshot, and from the top
it looked to be on a private server. Sooo, this couldn’t be confirmed as it was just a screengrab,
and no one I knew of had the private server link…. Until now! A crypto overview on Twitter posted
the direct link and clicking into it, it takes us to a Uniswap interface. Uniswap v3 interface.
Clicking onto the setting gear, we can click frontrunning protection on, and hovering over
the question mark a popup says “your transaction will be protected from frontrunning attacks and
it’s powered by flashbots and mistx!! And then we can see once it’s turned on, it says below
frontrunning protection: ON…clicking on Swap it says regarding the estimated gas fee “estimated
gas fee for your frontrunning protected swap” The proof is in the alchemy pudding that
Uniswap v3 will be integrating mistx!! But there will be the naysayers that say..well
someone just forked uniswap v3 from the alchemist team and is creating this themselves.
is no proof of Uniswap helping with this…. Oh REALLY!? Going back to the URL of this
private server link with mistx integration, we can see at the top that dire0x is included in
the link. Dire0x is an alchemist coin developer, specifically focusing on mistX development.
Now going into the Uniswap github, specifically the interface section,
there is a closed issue titled “Frontrunning protection mistx” which was opened
by Dire0x…also adding commits to this issue? As we can see from his Github profile…Moody
Salem is the Senior Software engineer at Uniswap… Uniswap is going to have direct mistX integration
here soon! This means crucible holders are about to be enriched on a level never we could
only dream of…billions of dollars per day get traded through Uniswap, which means
millions of dollars of saved MEV extraction. But also, Uniswap traders will also soon
get the feature of cashback on their trades. BIG stuff all around, that
is just around the corner… Buuuut now it’s time to bring the future altcoin
heat…predicting another airdrop and a BIG one like the ones I’ve predicted before.
DyDx ring a
bell!? Yeah I predicted that one months before it happened, and it was a big one…some people
making out with nearly a million dollars! Actually that is worth more than a million
now, with the recent price increases! Now, everyone should know about Paradigm. They
are one of the largest crypto VC firms out there, who has a stellar portfolio of projects.
DyDX is in there..airdrop.
Reflexer Labs, creator of RAI stablecoin is in there…airdrop of
which I also called. Uniswap is in there….airdrop, but there is a certain scaling solution too.
Optimism, the creators of the optimistic rollup! And they haven’t done an airdrop…YET!! Chico
Crypto thinks they are going to do one REAL soon!! Why!? Well #1 reason has to do with Paradigm, it’s obvious from their portfolio projects,
they like tokens and they like airdrops. I wouldn’t doubt Paradigm, one of their lead
investors, is pushing for them to do one… But the next reason is the biggest reason
of all which will push them into doing an airdrop.
It all comes down to competition…Going to l2 beat which tracks value locked up, and
looking at the optimistic rollups…Arbitrum is smoking optimism, with 1.5 billion locked
up compared with their 214 million. That is 7x the value locked up…and optimism if falling
fast and farther behind their competitor #1… But then the fastest growing l2, which is up
over 50 thousand percent over the past 7 days, is an optimistic rollup…and that is BOBA network! Going to the press release of the BOBA
mainnet, we can see that this is from the OMG network and it’s actually based
on the open source optimism codebase! Also they say “In support of the Boba mainnet,
OMG Foundation is releasing a new governance token for the platform, $BOBA.
$BOBA tokens will
be airdropped to existing $OMG token holders who have bridged their $OMG tokens to Boba
Network by a snapshot date later next month” They are doing an airdrop…that is the reason
for the explosion in TVL, the over 50 thousand percent growth in just 7 days!! Now
Optimism is already behind Arbitrum, and if they don’t want to fall behind BOBA, they
better incentivize people to go on their rollup. And the best way to do this
is…is through an airdrop!! Sooo my friends to end this episode off, I’m
going to show you how to use optimistic ethereum, and get yourself in a position to potentially
get a future airdrop. The optimism bridge can be found at gateway.optimism.io, and of course a
link for the bridge is below in the description. Once there you will connect a wallet, and we
are going to use metamask.
Once connected to your wallet, you will put in the amount you want
to transfer from mainnet to optimistic ethereum! For this example we will use 1 Ethereum. Click
deposit, and then confirm the transaction in Metamask and your ledger if you have one, and the
deposit process will begin. Wait for the required amount of confirmation, and when complete you
will know…you get showered with confetti! Now, that could be all you need to do, to be eligible
for the airdrop, but just in case, I would make a trade on uniswap on Optmisim…as they are
telling you to try it out on the bridge page.
Clicking on try it out, it takes you to the
Uniswap interface. In the top right corner click on Ethereum to switch to the optimistic mainnet.
This will automatically enter the details into Metamask, so it makes the switch. Click approve,
and then switch network and it will finally land you on uniswap on Optmisim. Then enter what you
would like to swap, for our example we will do .75 of an ethereum into Dai…approve the transaction on
metamask, with super low gas fees and a ledger if you have it. And boom, the transaction is done in
a blink of the eye. And you can even trade back, if you don’t want to stay in DAI…just making
the trades with their known partner Uniswap, will give you that much of an upper
hand, if they do plan to do airdrops. And we here at Chico Crypto think, that is
the plan! Cheers! I'll see you next time!