12th November 2021 > > XEUS finance.

tl;dr

A delve into the world of decentralised finance (DeFi)

Market Snap

Market Wrap

With Russia about to invade a European country, markets just don’t care.

Occasional Series – Taproot is scheduled for this weekend

See CCC 23rd October 2021 if you are not yet familiar with Taproot. This is very exciting news. It will result in ongoing upward pressure on the price of BTC, in my opinion.

Curious Cryptos’ Commentary – DeF for real

The CCC has been getting involved in various DeFi projects.

The cynical amongst you will probably believe that I have been doing this merely to enrich myself.

Nothing could be further from the truth. My DeFi exploits have all been executed with the intention of being able to pass on real life experience to the CCC community.

My experimentation has been low riskish (relatively – this is the Wild West after all) type exploits.

But yesterday, one DeFi platform got three key members of the CCC very excited.

Let me talk you through it, for colour and discussion, not remotely as investment advice.

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I should probably start by saying that any involvement in DeFi activity is extremely high risk. Rug pulls, frauds, mistakes, and worthless coins are all par for the course.

On the upside, the rewards can very occasionally be quite extraordinary.

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I present XEUS Finance for discussion and colour:

https://xeus.finance/#/dashboard

XEUS is a fork of OHM (Olympus), a DeFi platform using the Ethereum blockchain. XEUS however is on the Binance Smart Chain meaning that fees, and transaction times, become almost negligible.

Launched just 6 days ago, staking rewards started at a blatantly ridiculous ONE BILLION PERCENT APY. It is important to note that APY includes compounding (the eighth wonder of the world) whereas APR does not. Interest is paid every five hours for XEUS, and the interest rate is reset every five hours.

My first tentative investment was at an APY of close to ONE MILLION PERCENT APY, which is still an outrageous number in any normal sense of the word.

Yesterday evening it was down to 60 THOUSAND PERCENT APY.

As of this morning the APY is now back at ONE MILLION PERCENT APY.

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To get involved with XEUS requires several steps and hurdles:

1. Fund your Coinbase account with your notional in fiat.

2. Buy USDT on Coinbase.

3. Transfer that USDT to your Binance account.

4. Buy BUSD (Binance stable coin) on Binance.

5. Transfer BUSD to your MetaMask wallet (*)

6. Make sure your MetaMask wallet is funded with BNB for gas fees.

7. Head on over to Pancake Swap and swap BUSD for XEUS (requires BNB gas fee of

approximately 0.5% of your notional in fiat terms).

8. Import XEUS and SXEUS (staked XEUS) token contracts to your MetaMask wallet (you can

easily do this using the XEUS website).

9. Enable XEUS in MetaMask (requires a BNB gas fee of 10p or so).

10. Enable XEUS staking in MetaMask (requires a BNB gas fee of 10p or so).

11. Stake XEUS using the XEUS DeFi protocol (requires a BNB gas fee of 30p or so).

And er, that is it.

As you can see, DeFi is not yet quite as simple as transferring money from your bank account to someone else. All I can say is that once you have been through a similar process a couple of times, it all becomes old hat. I can almost do it in my sleep.

Now sit back and watch your staked XEUS become larger every five hours. The compounding happens automatically which is a nice touch.

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XEUS is still in the very early stages. Market cap is a mere $4mm and staked XEUS is equivalent to only $2.5mm.

But Larry, our resident techie, did sent me this graph of OHM price action over the last 8 months or so:

XEUS is already up from the time I bought it, and I have been compounding interest at ridiculous rates. 40% return on capital in one day isn’t bad.

For the risk involved, my assessment is that for me, the CCC team and the Curious Cryptos Ltd. Treasury Department the risk reward ratio works very nicely. Your situation and your risk assessment will be completely different to mine.

Note there is every chance this goes to zero at any time – whatever happens in whatever direction, I will keep you posted.

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*** NOT INVESTMENT ADVICE *** just for colour and discussion.

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(*) NOTE a very important point: use BSC Smart Chain not Ethereum blockchain. If your MetaMask wallet is not set up for BSC Smart Chain, let me know, and I can help you out.