My First Uptrennd Earning
This is my entry for Navi organized contest.
To start with, beyond earning 1UP, my first earning on Uptrennd is quality education and knowledge on interaction and organization in a forum. The fact you cannot upvote your own post irrespective of how good it is shows how much we need people to rate our works. With the acquired knowledge here, I've landed gigs outside Uptrennd that paid good money upon seeing my Uptrennd contents.
I joined Uptrennd in March, 2020 when COVID-19 lockdown started and indeed Uptrennd helped me through the lockdown period with very informative and entertaining posts. I still wish the level of engagements that time is still obtainable till now.
I made my first Uptrennd withdrawals on the 1st of April, 2020 after I've reached level 16 in the forum and Hodl in my wallet till price rose to about #5 and I sold to a fellow Uptrennd member for cash without an escrow. Going through Zizy post where she mentioned 1UP buyers in Nigeria, I contacted Aaron Danjuma who gave me a very good price, sent about 10,000 1UP to him and he sent my cash afterwards.
I bought a different breed of rabbits with my first earning and made battery cage. Today, I've made double my first earning from breeding rabbits I bought.
Till now, my first Uptrennd monetary earning is at my backyard multiplying.
#earnfreecrypto #uptrennd
Cover image credits: Navi
DeFi
DeFi is short for “decentralized finance,” a term used to describe varieties of financial applications in crypto, that's designed to eliminate financial intermediaries.
Defi is finding real life usage because centralized systems can disrupt the speed and sophistication of transactions while offering users less direct control over their money. Current banking and financial systems comes to mind as you can even be prevented from accessing your fund an example is the current Nigeria CBN regulations on accessing your domiciliary account. DeFi is an improvement on blockchain and crypto usage as it incorporates complex financial transactions.
Defi main advantage is completely eliminating middlemen from all financial transactions including loans, insurance, crowdfunding and betting. Paying with fiat for a transaction includes a middleman who can chose to accept or decline your transactions but with Defi, it's direct transaction between buyer and seller.
Most Defi applications are built on Ethereum ecosystem but recently, Tron is finding it's own niche in Defi. These coins are built for smart contracts as most people even agreed Tron copied ethereum whitepaper.
Smarts contracts automatically executed transactions provided conditions for it's execution are met and it offer wider flexibility. Example is the new Jeff pet project, Trustswap, when you want money sent to your employee by month-end provided he met certain performance indexes. These can be written in a smart contract
The common DeFi applications include:
Decentralized exchanges (DEXs): DEXs, a short form of decentralized exchanges are exchanges that directly connect users so they can trade cryptocurrencies with one another without trusting an intermediary or centralized exchanges with their fund. Transaction is done directly from a connected wallets of users.
Stablecoins: A cryptocurrency that's tied to an asset outside of cryptocurrency; Gold, Dollar, Naira, or Euro, for example to stabilize the price.
Lending platforms: These platforms use smart contracts to replace intermediaries such as banks that manage lending in the middle.
"Wrapped" bitcoins (WBTC): A way of sending bitcoin to the Ethereum network so the bitcoin can be used directly in Ethereum's DeFi system. WBTCs allow users to earn interest on the bitcoin they lend out via the decentralized lending platform. It's believed that total Bitcoin wrapped is more than Bitcoin traded presently.
Prediction markets: As a punter, I love this market as it's designed for betting on the outcome of future events, such as football matches or other sport matches. The goal of Defi in this market is to eliminate intermediaries.
In addition to these, new DeFi concepts have sprung up and includes:
Yield farming: Recently, Uptrennd announced 1UP is now available for yield farming. This entails serious research and knowledgeable approach as it's very risky but it offers larger returns, some as high as 1000%.
Liquidity mining: Liquidity mining is providing Liquidity on DEXs with your tokens with the hope of getting a free token in return. A recent example is the distribution of UNI tokens on Uniswap to traders. This too can be said to be an example of yield farming.
I'm excited about the future prospects of decentralized finance.
Limiting Thoughts
So while taking stock, and trying to get out of my present state of mind, I stumbled on a write up that challenged me. What are my limiting thoughts?
Over the years, there are things planted subtlety in our subconscious that became a stumbling block to our progress by limiting our thought process.
I have heard people said money cannot buy happiness and my friend Safari Bangz has written extensively on why it's a wrong thought process but some people still good on to this limiting thoughts.
The question I ask people with this mindset is, what makes you happy? Some says hanging out, vacation, putting smile on people's faces by giving them gifts, getting to eat what they like when they want, e.t.c. The next question I ask is if having money cannot get these done? So who now says money cannot buy happiness? It does buy loads of it.
Another funny limiting thought is the normal saying that; Do what you love and not what gives you money. I used to believe this for long as I think it's monotonous when you do things for money alone and could be boring. The new thought that changed my mind was: Is it fun when I make enough money and pay my bills? Yes. What if I unleash the power of my mind to make the job paying the bills fun?
I found out other series of limiting thoughts that got me near the State of depression and I'm learning to guards my heart jealously against these thoughts.
What are your limiting thoughts?
