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Ditto Ambassador Program Mystery and Crypto Education
Few months ago I joined the Ditto Ambassador Club, a program set up with the goal to encourage investors to promote crypto projects on social media, mostly on Tweeter. The reward system was set to give tokens to members that will participate in tasks and complete daily activities. Was a great opportunity to earn DITTO while helping projects raise awareness.
I set up my account, and after few days under review it was activated. I was able to check daily tasks and retweet stuff to earn points. Every quarter the points would be swapped per DITTO and sent to the members. The best tool of the system was the automatic retweet of all DITTO posts, which reduced the manual work.
It was all cool and the points where adding up ... until one day when the page stopped working! Where has the DITTO Ambassador Club vanished? My detective skills are not excellent, therefore this mystery is yet to be solved.
After a strong social media presence, DITTO went quiet for months. It recently come back, with a fresh focus on crypto education. Do you know what is APR? Is the Annual Percentage Rate that reflects the yearly interest generated by a sum that's charged to borrowers or paid to investors. I would add that APR is not auto-compounding, which makes it different from APY.
Lesson two of Ditto Crypto education covers Decentralized Finance, aka DeFi. The global open alternative to the current financial system bloomed in 2020, where many DeFi Crypto projects flooded the Cryptoverse. This products used open-sourced technology to allow users to borrow, save, invest, lend or trade cryptocurrencies. A big issue with DeFi was the concerning number of scam projects, rug pulls and hacks.
What is a market cap? A local market with a baseball cap? No ... it means the total circulating supply of a cryptocurrency and the current price. This metric is used to rank crypto coins and tokens as per relative size.
Liquidity Pool is a DeFi term, and means a collection of funds locked in a smart contract. Usually is made by a pair of tokens in a 50% - 50% ratio but other scenarios are possible. The LP provider will get a reward or a share of the market fees.
If you reached this point and you still wonder what is $DITTO then you should know that is like Ampleforth but on Binance Smart Chain! However, the multiple rebase prevents long periods of negative values. Morphing so often makes Ditto to have a stable store of value, unaffected by volatility. Running on Binance Smart-Chain makes Ditto fast and cheap, not as the Ethereum Chain elastic tokens, and because it uses time-weighted average price (TWAP)feeds generated by on-chain AMMs, doesn't depend on external oracles.
Once upon a time I even had a collaboration with @MoreGainStrategies for this badass Ditto video where I challenged Ditto.Finance at Trial by Combat.
At the moment I have my Ditto staked on Autofarm, in a LP with BNB pairing. I added 203 Ditto in there and 0.39 BNB to earn auto compounding crypto at 1,1114.3 % APY. Had a look yesterday and the APY dropped at 28% so must consider the next action.