Good morning gentlemen GM GM GM
Good. How are you, Ratsipus? I'm doing great. Good, good, good, good. Ratsipus, the octopus. I feel a song coming on. I like it. It's Ratsipus, the octopus.
Does whatever an octopus can do? Look out for him octopus man! octopus octopus octopus octopus yeah what is your superpower being abroad?
What's a Brock? No, the super power of Brock to put sir is the fact that he does not have only one skill but he has many skills and he has to develop them all That's so good
eight skills so good winner the books coming out when can I for you to my child I need to have a child first so maybe if I have a kid you'll
read it book. Maybe if I have a kid I'll read a book. Oh, I mean you could do it for that reason too. The Jeremy bear me, and brother bear me is actually my son. So if you would so
kindly make some folks for her. It's me. You're fine. It's me. Your son.
Okay, okay, I'm gonna go on you I'm getting my life together for 12 seconds Brauchtapist. What are we up to today, man? We up to tell me more I think I think that we're going to Do something with Pinderfinger
and GLP, something, something. And the process of that, right? Is that what I'm pretty sure what's happening? I was just, you know, over here, thinking this morning, like I'm pretty sure we're doing a little bit of D5 this morning. Now, how much easier is this on my computer?
easier on your computer. Okay, so what I'm going to do is make sure I have my metamask going on like a computer. I've done that before the call. Good. You got that arpeggio on that computer.
I don't have any arb on the computer. No, actually that arb thing never went through bro. What arb thing? Which part? By arb coins originally that one time? Never got to buy them. When they dropped down to like...
I don't know. 30-some cents or something like that. You're a never 30-sensor. Don't you talk about me. Arbitrum tokens like that. You're a rude man. Maybe something. I don't know. They drop pretty low anyway. It would have been a good time to
buy. Yeah, yeah, at least a couple hundred dollars for sure right now. It's called you know when they initially tried to buy they were still at like one 50ish. No they weren't. Yeah, pretty sure they were. They were going down. When I originally tried to buy
Yeah. They were way lower than that.
Maybe they were definitely 134 something like that 134. Oh, okay, maybe maybe they were they were dropped into like the one the one teens or something. Yeah, 111 that's where I was trying to buy remember that's why I was like ah, okay, this is the same kind of way
than no brainer because it was like yeah it was in the one team that's where I was trying to buy and then by the time we got set up by the end of the call it was in the 130s I'm like all right whatever I'll just take this you know like take jogging up with learning experience and then I never even went through
You fumbled the bag on generational wealth. Welcome to
DeFi, a proctivist, where either you make no money or you don't make enough money. That's the way it goes. That's the first rule of DeFi actually.
I thought it was don't show any keys.
Well, I mean, that's the first rule, but that's the first rule after that rule. Oh, so, so like I should share my keys then? Well, I mean no, no. Only with your closest friends, particularly people named Toe,
medicine. Nice. Who's also my daddy? I'm dead. I'm deceased. Who's also? Welcome back. You can't remember your password. Oh.
Oh, yeah, I'm logging into it. I mean, I guess for sake of sake is a recording. We're looking at tender finance. Yeah, tender finance is a compound fork.
Hello, are you okay? Yeah, just the joys of fucking defy here Yeah, I love it Hang in all right, I'll be back. I'll be guys over
I've got a freaking log in breaking my freaking safe. Oh damn. Yeah, it says. I'm not a Washington key. I'm not a Washington key. God dang. I mean, I'm trying to listen is all it's all it's all I'm trying to do.
I'm just trying to listen, you know, that's crazy. Buck and key. I'm safe. I mean, I just put my private keys in a cookie jar. Yeah, I make sense. Yes, come to my house and see cookies out on the counter. Just know that you're not supposed to eat the cookies.
If the cookies are a little metal strip, don't eat. I mean, don't take them from me, you're sense of a gun. But like, what if I eat it and I get its power? Or if I become a wallet?
What if I become a wallet? How would that work? If I say, "What if I scan you and synchrypto to you, and then would you be able to move it back out of you?" Or would you have to like digest it first before you could move it back out of you? I'm hoping I become like one with a blocked chain.
Look, there's a lot of superheroes that get some funky powers and you know blockchain man. I don't know what if one of my powers is gonna be a radioactive key and then I don't know.
Alright, so I still haven't said I need to figure out which wallet I want to use, don't I? I gotta stop to stop being a scrub Mr. Toad. You know plug in the old ledger.
you know, nice. Nice. Do a little bit of ledgering. Of course, some best practices around ledgering like
Oh man, you know like the act of signing a transaction, you know, the act of signing a transaction. We're like you have the thing pop up and you click sign. I don't know what I'm talking about. Yeah, yeah. Oh, like a lot of times.
That's the place where you're getting scammed. So, yeah, yeah. So like if you're interacting with contracts with your ledger, then like you're still like, you're still signing things that could say, "Drain wallet with your ledger."
You know, because I remember the ledger what it keeps is it keeps people who are not physically with you from being able to sign transactions. But if you're an idiot and you sign the transaction, like you're still an idiot, you know what I mean?
Excuse me sir. I am I resemble that comment. I resemble that comment. Oh man. Yeah, I mean I don't want to call anyone a name but if you're signing a transaction and then all of your money leaves
Oh no, you know, if you went through the process of getting a ledger and then not understanding how to use it and that would be really sad, you know.
so to say head. So let's not do that. Yeah. Yeah. I'm getting getting that secondary ledger. That sounds really smart to me actually. I'd like to separate just in case, just in case that little little interlayer. Yeah. I think it's wise to have like a couple ledgers
that you use for, you know, odd things, you know, this, that, the third. For the most part, you hold things in it. Maybe you do some NFT things, but I wouldn't really be like, minting from new contracts. You know, I wouldn't be engaging with new things.
with my ledger. There may be some things that I become comfortable with doing, like, toad medicines kind of like my name. And like, I will go and do things on chain, like mint things or use a D5 protocol because it says toad medicine on the blockchain now. And I don't know. People come
maybe they can build trust with that. Like if they look at the contract on EtherScan and they see that there's a bunch of E and S's and not just wallets, that looks better. It looks like people are using their real shit to engage with it. Less bonded. And if anyone knows me from Twitter,
And they're like, oh, I can trust this. Toad medicine was here, you know? But if I'm trying to play with something new, you know, a new protocol, mint a new project, yeah, I'm going to do that shit with a hot wallet.
I'm going to do it with a hot wallet. I'm going to briefly cough, realize I need to go get water. Yeah, I'm going to do that shit with a hot wallet and then when I have the asset, I'm just going to send it to my ledger.
That would be the move that makes sense.
How does it work that there's like different accounts nested in my wallet, different wallets in my wallet, right? There's a succeed phrase, but I can create multiple wallets under my ledger, correct? - Perret. - No. If I do that,
And I flow the transaction, right, on let's call it wallet A. And then under the ledger and something happens and the assets get taken from wallet A because I sent let's just say it was because in particular I sent them to the wrong
Yeah, like just just the wrong address or something like that or maybe maybe that address was was somehow compromised not through the computer, but you know that transaction was compromised so it ended up taking My assets somehow gosh, that's not clear enough because there's multiple ways of
can take it. Anyway, let's go back to the original story. Your question is, is the, like, because you can have multiple wallets underneath one seed phrase, and if you lose one wallet, do you lose all the stuff?
Is that the question? Sure. Yeah. Why not? Is that what you're trying to figure out? Because I mean, I think the answer is maybe, you know, it's maybe it's quite possible. Yeah. Because I mean, like if you have
seed phrase, that is the password to all of those wallets. So if they actually just check, like if they just know to check, and yeah, it's quite possible that you're going to lose all your shit, you know? Yeah. Like I know that our dear friend, the
other day who was sadly hacked. Like this happened to them. They had that happened where like they had some crypto that was saved because it ended up inside of another wallet that was protected
by those seed phrases and they just kind of like you know kept it. So yeah that that can happen absolutely where you know wallet 2 doesn't get hacked they can also happen where wallet 2 does get hacked but if you got hacked
on wallet one, but not on wallet two. Know that wallet two is vulnerable and they just haven't wiped it yet. So you should get your shit out of there fast, you know? Yeah. So my question is, and this is like best security practice, or this is like a concern over
different protocols. Can protocols become co-opted and then I get screwed over like what happens if just tender you know like bike interacting with tender I have a problem now. Oh yeah protocols can totally get hacked 100% be careful. It's a wild
I mean, this is, I mean, sorry. No, go ahead. Well, this is a part of the reason why like, air drops, I think you're kind of like, they're fair. Like, you came and interacted with this protocol because
for anyone else to would thank you. Here's some money. You know, for real for real man, for real for real. Yeah, man, it's like any any any time you do anything you
have vulnerabilities to that. This is why you should interact with contracts that you don't trust with your fricking everything wallet. Just don't do it. That's the way that works.
And you know, this is also why I think you deserve tokens if you're going to go and interact with something early. It's like you're literally part of what's building it, you know, you're providing initial liquidity, you're providing initial trust by using it and realize that you're valuable in that sense and that you
shouldn't it ape into shit that's just kind of like not not worth your time you know you know I mean I used to just put tokens into anything and everything and then I lost tokens a few times and then I was like oh well don't do that
Okay gentlemen, do I need to send some? Eath to this wall that sucks sending e to one wallet just to use that wallet Well, I mean we're extra eith right now It's on my phone my metamass on my phone. Is that the same wallet?
It's not the same wallets computer Talked about this what do I sound like a new If you don't at least have like five wallets, so what do you do?
I got my phone base. I got at least a couple of people in the past. I got my, yeah, anyway, we were only talking about all the while, get through all the
What's your what was your private seed phrase I was just gonna all you know over here Unicorn unicorn. Ooh sweet. It's the first letter Cool cool cool
I do need to send some east over there, right? I need starting out with a meta mask with the east and that would that would be the idea. Yeah, yeah, one would need one would need east.
Counts receive I so swap My ledger. What am I doing with my ledger? I can't figure it out. I need tea. All right, that's it. I'm gonna go get that. I need tea. We're gonna come and add it.
Micah this is what this is this is what I get for hanging out with you you and Travis this is Sorry, sorry rock the puttin toad You've made me a caffeine addict apparently don't function making coffee right now
I can't even figure out how to get back to Twitter. Just remember that caffeine is a gateway drug.
And gas fees are too bad this morning.
What does that mean? Not too bad.
like I said, like several hundred dollars worth of each and it was like a dollar and 24 cents. That's not too bad, right?
It's not great. Well, I mean the way that you would talk about gas fees is you would talk about the gway. What's gway at?
Is anyone know what a way is what is a way a way is the small smallest denomination of a
of a, of a what? Of an ethereum. Okay. Yay. And a Gway is why I can't remember. I can't believe that I got all the way there and remember that it was specifically a theory. It happens. Yeah. A Gway is a little
one billionth of an Ethereum. That's what a way is. Okay. Got it. Good times. Okay, I am ready, sir. All right, sir. Well, the first that is to tell me where you're starting. I am right now looking at my Metamask dashboard essentially.
Nice on your computer. You don't have on my computer and I'm on Google Chrome. You don't have Arbhtram on your Metamasket. Uh, nope, I don't think I do. Let me see.
Okay, let's go ahead Arbitram 1. Yeah, let's think about the tools we're gonna need because if you're starting with the theorem on Ethlayer 1 then you're going to need to bridge to Arbitram and you're going to need to enter
react with the Arbitram blockchain. So you're going to need an Arbitram when you're metamask. We're going to need a bridge tool that we like up. And that's kind of the main bits. The other bit, we're just going to go try out a new D5
protocol and we'll get there when we get there. So there's three things we're going to use. We're going to use chainlist.org. We're going to use the across bridge and we're going to use tender finance. That's what we're using today.
So why don't you go to chainlist.org.
Okay, I am here. Shameless.org. And just add ArborTrum.
Just connect my wallet there. Yeah, yep. Yeah. Okay. I already added. Okay. Okay. Okay. Okay. Okay. Okay. Okay. Okay. Okay. Okay. Okay. Okay. Okay. Okay. Okay. Okay. Okay. Okay. Okay. Okay. Okay. Okay. Okay. Okay. Okay. Okay. Okay. Okay. Okay. Okay. Okay. Okay. Okay. Okay. Okay. Okay. Okay. Okay. Okay.#
Arbitram 1, chainlist, chainlist.org
I'm not gonna keep my foot. This is our become one.
It did the exact same thing.
Well, he's changing you to clean base app.
I'm so confused what you're saying about Coinbase. So I clicked on Chameless.
I clicked where it says Arbitram 1 connect wallet.
And as soon as I click that button, a new tab opens up and it says Coinbase, Followed Extension.
Why are you trying to get clean base for it?
I am on chainlist.org. Is that correct? C-H-A-I-N-L-I-S-T dot ORG. On the left hand side it says chainlist helping users connect to EVM power networks.
side, it has a list of networks that you can connect your wallet to. The on the second row is Arbitram 1 and Colligon Mainnet. I want Arbitram 1. So I'm going
connect or click connect wallet. The second I can't click connect wallet it goes and opens a new tab. This new tab is Coinbase wallet extension. So when you click connect wallet it doesn't pop
up the thing called available wallets. And then you can select metamask finance smart wallet, queen base or wallet connect. Interesting. Huh. I wonder why that is true for you. So at the top it says search networks include test
And at the top it says connect while I wonder if I can do it. No, that's an exact thing. Interesting. Well, you could always use hop if you don't use across hop.exchange. So it's app.hop.exchange.
These are the most popular APP dot HOP dot exchange. These are the most popular bridges into the
Herb atrium ecosystem. Across and hop. Hop is actually, I think, more popular than across. I don't know. I just like using it across.
Okay, so wait, wait you like using chain list? Well, I mean chain list. Over hop. Those are different things, you know?
Yeah, Chain List is a place where I can go to easily add the ability to interact with the new blockchain to my wallet.
They're in in blockchain is a thing called an RPC remote procedure call remote protocol call. It's how you're calling the blockchain remotely. It's literally what it sounds like. And if you haven't taught the instant
of your wallet, how to talk Arbitrum, then your wallet doesn't know how to talk Arbitrum, you know, which is sad. Well I already have Arbitrum one on my wallet. Well you're because I just... Okay so hang on. In the beginning of this conversation you asked me, do you have
of Arbitram 1 and use I said no and then I went over to a Metamass thing where it asked me to add a network and it just has it there so I just added it directly from my Metamass. So you have Arbitram 1 on your Metamass now? Yes, okay.
I'm going to go back to the bridge.
or hop across dot two or hop I mean I like it across I don't know it's just pretty very faster I think across dot
I'm sorry, what was that again?
Mike can get wrong for a good idea.
Jeremy, can you hear anybody? I can hear you. I'm trying to operate my computer.
I think Tode got rugged. Yeah. Okay, finally. Oh, man. Haven't some internet issues, but like only with the PCs. Don't know why. Very frustrating.
Let me have a request here.
It says request but when I hit the request button there's no request there. So weird.
This is a small indie company.
He bombed it. You should be able to speak, Mr. Toad. Welcome back to the hotel. It's open NordVPN. Not connected. We're connected.
Can you speak sir? Yes. Can you hear me? Nice. Yes. Loud and queer. That beautiful, beautiful voice here.
- T-O. - Yep, across.tube.
Okay, sorry. You're like, I said that's already good. You're good. Then okay, so just make sure everything looks great. You have to cross that to
So you fast connect. Okay, so just connect my wallet here. Yep.
Metamask please. Okay, I'll just...
Connected in. Okay, I am connected. Go to bridge. Go to bridge.
Do do do do do do. Send. Oh, this much. Max. Do I want to do my next? I don't know if I want to do my next. Decisions decisions decisions.
It's pretty straightforward though, right? You just see the ass that you want to bridge and where you're starting from and where you're going to.
to do that stuff. Oh my gosh there's so many zeros or so many. You're so rich. I mean not really just because it's in
Yeah, I mean, it's already pretty much done there. I mean, it's pretty simple. So I just tell it how much I want. It says if the area main that and it's already has a selected to the R1, like because I've already passed. Oh, well, that's also probably because that's the only two things I have a demo to not wall it.
So it automatically assumes that which is nice. It's nice. Time to arbitrarment one five minutes. This is an ancient gas fee.
Bridge fee you will receive. There you go. Confirmed transaction.
on the workers' busy guest prices by an estimate times or less accurate.
Yeah, it'll be the worst gasp as you're starting on Ethereum, but I think I just paid like $10 about that.
So, for what it's worth, this is why I use polygon and arbitrum so much.
because you pay one cent. Well, it's said quite
It's said deposit successful. Nice. Now I'll take a moment for it to do so. Oh, to show up. Okay. Cool. Take a sip of coffee. I should make a coffee. What's it I ought to do? Sounds nice to me.
I hope people can listen to this in the future and just follow along as we're doing it. Are we doing pretty good about communicating each step as we go? Because I'm in an old bit, so I'm trying to, but yeah, this is not everything. I don't think anybody was listening to this.
with understanding what's going on here. There's too many things between this is why you want to screen for something like this. Well, okay, but wait a minute, it's not that complicated. So far what we've done is we logged into our Metamask. You have to find some way to get some e-finture Metamask. And this is just the way that I've done it. I'm sure there's better ways to do it#
But this is just the way I did it. So once I have some eith in my Metamask, I just connected it to the Arbitram 1 network. Now I have to convert the eith in my wallet from the eith network to the Arbitram 1 network.
So I went to we had two options we can either go to across.to or we could go to hop exchange which was app.hop.exchange and you connect your wallet there. It's pretty simple. On both sides
it looks pretty simple to be honest. And for me, I don't know if it's going to be like this for everybody, but for me, it saw that I had ETH in the Ethereum network. It knows what you're trying to do. This is what this thing does. So the top one put my ETH in, it asked me if I wanted to swap it to Arbitrum right away.
This is probably one of two reasons either because that's the only network I had in my wallet. So it kind of figured, right? But there's also a drop down menu. So if you wanted to swap it to another network, you will also be able to do that at that point. You just have to select a different one. It also may have been at the top because it starts with an A.
So then I just selected the amount of the ETH that I wanted to transfer from the Ethereum network to the Arbitram network. Did the signature? Signed it just like we signed all of our one three things and it did it and now we are waiting for it to
pop up into my neta mask. Which it has done. Boom! How about that, Fabie? How about that? I'm stuck on my ledger, which I haven't opened in a while, and there's no wallet cap. How do I fix it? Is there no wallet, who? There's no wallet cap. How do I fix it?
So you opened your ledger and now you're trying to view it? Right, so I have portfolio market accounts to cover and receive by cell swap card my ledger and I'm trying
to like actually see the wallet within my ledger. And my favorite way to use the ledger is to connect it to my Meta mask. Is your ledger plugged into your computer? My ledger is plugged into my computer. Cool. So you open your Meta mask.
Open some Metamask. Going to go to the Metamask. Do whatever a Metamask can. Watch out for me, Metamask!
Anybody remember what my metamass password was for whatever all of this was it was my birthday. Oh October 27th. I love toad.
Scorpio God. 27. Don't mind me guys.
I wonder how they're just waiting for the block chain to settle their transactions and being quiet. How goes your bridge to Arbitrum?
Brox on mute. He doesn't know
Oh, I knew I knew I was doing it on purpose. I got you in the room. It's it's completed. I said that a second ago, but you must not have heard me. So I thought you were waiting on Mr. Mr. Jeremy. So you will be waiting for us. I will figure out what he's doing. If if your ledgers
applied into your computer then just open your MetaMask. Open the MetaMask and in the top right hand corner there's the colorful circle. Everyone's circle looks different. It's a unique circle for everybody. But right next to where it says a Theorya mainnet or whatever blockchain you're on, there's a little circle to the right.
when you open your Meta Mask and you click the little circle, and then underneath that you click connect hardware wallet. Easy, easy, baby, baby. Once your hardware wallet has been connected,
I'm not sure if I'm ahead of you or not. I'm not sure if I'm fine. Because it's paired and then when I go to connect it says ledger device unknown error.
You may need to update your ledger live. You may need to update your ledger. But if you have ledger live, maybe your computer has some weird setting.
It can't automatically open ledger live when it's prompted to. So maybe you need to go open ledger live and check for updates. But that's how you do it is you just connect it there. Yeah.
It's a little frustrating because I think there's something weird with the ledger but Yeah, it definitely sounds like it's probably an update thing. That's what I would say Yeah, you have to update your ledger with you said you had Regularity you hadn't you said you haven't opened it in one
So yeah, it's quite possible right normally prompt an update when I open it and Not telling me the update Interesting interesting Indos live
This is nice. We should not pitch my tokens. I mean, I could literally take
like as much as I've done now. Which isn't a lot, whatever. I don't care if people really know that I have 500 each. $500 worth of each actually. I wish I had 500 each. So we could literally like set up a wallet.
and do a recording and show people how to do it and then once we're done with it just trash the wallet, you know? We could do that. We could also do the same thing with a ledger. We could also do the same thing with just like my wallet with a normal position in it.
I mean you're gonna see my address I'm not gonna show you my seed phrase you know right right right right well yeah that side of it but even like yeah I guess I guess it was me I never mind okay so where do I go next sir well sir
Yeah, we're also gonna use gmx But let's go ahead and go to go to tinderify tinder t and d e
are.fi. Wait, wait, wait. He, he ain't not I am not like the app. Yeah, not like you're a college kid trying to get, you know, some dates like not like that.
t1r.fi. And if you guys are wondering why I do this, it's to make sure that I am on the right flippin' place. So do I need to? Here's what I've got. I've got my Tinder 5 thing. Cool little
with a spinny thing in the middle. Translucent spinning green thing. I have a launch app on the top right hand side. Launch app. Launch app. Launch app. Where you can also borrow and land. Why does it open
point base. Why does here like there's something that you have in your computer? I don't know if you have a coinbase wallet somewhere on your thing. I do but I don't even have it canned. Let's get rid of it. I mean if you don't need it, like, I'm gonna rid of it.
I don't have a Coinbase wallet on my computer and that's why my computer loves me. I don't know, maybe I should go fiddle with a Coinbase wallet when I like, I don't know.
Metamask is just the most usual it, you know? Okay. What does it say wrong network? The connection wallet.
Now I'm going to do shit. There we go. Re-did it. Nice. Yes. Okay. So if you have ever downloaded the Coinbase app, it apparently likes to fight.
And if you have the Metamask app pinned, this is to my experience today at least connected. Okay. Ready to go! And I want to
Do I want to lend? Here's what you got going on. In this supply spot, that's where you can deposit crypto. You can see the rewards you would earn. Right now you have a theorem. If you deposited a theorem, then you would earn 50
15% rewards and the protocols token, the tindy token, and you would earn almost 5% in a theory on rewards. And I think it's important to know where those rewards are coming from.
The ETH rewards will accumulate in your account slowly and those rewards are paid to you from people who are paying interest on their Ethereum borrow. Someone might borrow Ethereum and they're paying interest to
you. I'm actually right now. I'm borrowing. I went in borrowed ETH because I needed gas on arbitrum and my solution was to go borrow like $20 of ETH and I'm paying 8% interest on that. So you know when I know it's that expensive, 8% on
freaking $20. I get poor. Oh, rampant inflation ran away debt crisis. Okay. Okay. Hang on. Hang on. How do I burn? So I'm on my dashboard and I don't see anywhere where
I get alone. Well, you see whether supply do you see supply in borrow right? Yep, let's end total supply. By it. We my supply says zero. Yeah, because you don't have anything in there yet. So the question
is what do you want to use as collateral? Like you could just use Ethereum if you wanted to, but you have ETH. One of the big reasons people come to Tinder Finance is because Tinder Finance lets you borrow against GLP. Do you see GLP there?
Yeah, yeah. GLP. Yeah, they're the big reason you come to tend to finances because they have a borrowing market against GLP. GLP is a weird asset to explain.
But it is a really yield product. What that means is it earns fees from the protocol that belongs to. It belongs to the GMX protocol, which is a perpetual swaps protocol.
Normal things and GLP is the counter liquidity to trades on GMX and GMX holders have been paid out something like I don't know 45 million dollars in revenue
like platform fees. GLP is regularly like on the regular paying 22 to 26% APY when there's a lot of on-chain activity it'll pay like
30% APY, they'll pay like higher and yeah, so it's paying you these rewards which is great GLP itself the underlying asset is made up of largely stable tokens
tokens. And then it's also got a little bit of ETH, a little bit of Uni, a little bit of Link. It's got like a bit coin in it. All of us to be said, I need to go and swap
my ARB or GLP so that I can loan GLP. Is that correct? Or supply GLP? Well, so you have ETH right now, right? Right. Right. Right. Which is Arbitram Network. Yep, correct. Which is fine. You can deposit ETH in parallel against it if you want exposure
to the Ethereum asset. But it sounded like the whole of the reason you were just talking for five minutes is to like basically tell me the reason why GLP is a great asset. So yeah, well, GLP is great. It's not like if Ethereum goes to 10k, like you're not going to make a
much money as if you held the Ethereum. But if you're going to take out a debt position, like you're going to owe money, you know, that means you're going to have debt and you're going to have collateral. And if ETH goes down and value, and it gets to the point where you have less ETH
there than the amount that you should have to borrow the money against, then they are going to liquidate you. At least they're going to partially liquidate you. Tender finance I think does 50% liquidations. So if you're loan to debt value
they would take half of your eith, they would sell it, and they would pay off your debt to get it back into, you know, into a, I don't know, being over collateralized, right? What you could do to hedge your risks is you could
swap your ETH to GLP, because GLP is a more stable asset as it's made up of stable tokens and a broader index of the market. And GLP can also go up in value because it can go up in value
Bitcoin and ETH and Link and you can go up because those are the underlying assets that represent GLP. The GLP will never go up as fast as those assets because it's made up of like 70% stable tokens. It's got to be.
It's just more stable. Yeah, that gives us less of a yeah, exactly more stable overall. Yeah, right. Okay. Okay. We know it's more we know it's more stable. We also know it's it's a yield bearing asset. So like that means the value of my geolpe.
will grow. If I deposit a thousand dollars worth of GLP right now at the end of the year, I should have $1,220.44. To be exact.
So I have a little what's my next step in this process. Okay. Well, if you're going to get some GLP, which is kind of a fun thing to do, then you're kind of why we came here today. Okay. Cool. We're into it. And you're going to go to g g m x dot I owe go to g m x dot I owe. That's easy.
Holy Toledo where there's been over $122 billion worth of trading volume. Crazy. Now ladies and gentlemen I am going to go ahead and
get here. I've checked. Oops. That's all that. What's all that? Gmex.io. It gives little slash, hash slash, but I am definitely on Gmex. I am going to go ahead and launch the app just like always.
to do reading and grief type things. Boom boom. I'm in there. I'm obviously going to have to connect my wallet because don't be silly. Don't ask, don't what I'm getting to is don't ask silly questions or
the girls we've learned now okay so I've connected my wallet up on the top right in GMX cool and I am ready to go sir you see where it says buy you see where it says buy oh yeah I do so you go there and it where says GOP you click buy on arbitrum
I'm not just going to go do the maxi max. Well, I mean select that you're going to buy GLP with your ether, right? So you select E5GLP. And you don't want to ever go max because you pay fees with a theory.
and if you went max and you'd have no Ethereum to pay fees, so if you have-- - Yeah, just keep like $10 in your wallet or something, you know? - $10 is funny 'cause it doesn't, I mean, I'm gonna go do that now. (laughs)
like, uh, do you have like point, you have like point two e-thout there or something? Yeah, slightly more than that. Well, then just like, just do like point one nine. Yeah, yeah, just keep like a point zero line amount in your wallet. And that'll be fine for a while.
Let me know how it goes. Okay.
Why is it giving me the GLP in dollar? Is that a dollar or do they just use the dollar sign of like I'm receiving that many GLP's?
So I mean, like if you type in, yeah, it says receive it in a dollar amount and then underneath that it says the number of GLPs. Yeah, I got it. Yeah. The number or GLPs.
I've apparently done that.
Sweet. So now you have GLP.
Did you swap it in confirm it?
I mean it said it said it said confirmed whatever whatever all right cool so now I go back to my mask and wait for it to show up again
Just go back to tendrify. It's in your mask. No. Your mask. Your mask. Your mask. Yup. It's in there. Okay. Nope. It's not showing up yet.
And you could buy. That's what I came here to do, right? You know, he buy a lot of them.
I wonder if I missed something up, but I thought it said it went through.
You may have just approved the, it's probably what you did. So anytime that you're using a new swap tool or a new tool in general, you have to complete two transactions. The first transaction is telling it's okay for the tool to use your crypto.
And the second transaction is the actual one. The first time you approve any new asset on any new app. Today you approved GMX to spend your Ethereum. But if you came back to GMX and wanted to spend your USDC, you'd have to approve that too.
Okay, so how do I do that? Because it says when I'm also- You did it. Oh, well then you have a balance of GLP. But just go back to my midway.
That's fine. That's fine. It's inside your wallet. Okay. Yeah, just go to tender fi. You there? Okay, hit supply hit GLP.
and it says do you want to supply and you say yeah I want to supply max oh max oh there we go sorry bro sorry you're good now I've noticed a bug on the on the tender
thing. So if you hit max and then hit like supplier whatever, it's going to pop up your Meta Vask. And you have to allow access to GLP on your wallet.
And you need to type in like 10 over the number of GLPs you have into your meta mask. - Okay, this is kind of confusing here.
So I came up and it said send a set of spending cap. Is that what you're talking about? Yeah, yeah, yeah. Just type in like if you have a thousand GLPs, just type in a thousand and 10.
Because you're just giving the contract permission to spend your GLP you're saying yes, send your findings. No one says zero something s GLP. So how do I know how many to do?
Well, you said you had a balance of GLP, right?
Yeah, but now what we're here is when I hit max it's showing zero. This doesn't make sense. Yeah, that's that's the bug I've noticed whenever you hit max it doesn't look at the blockchain and pull up the right number. So I've just been typing in a number that's slightly over what I have.
And it's the reason that number is off the top of my head. That's my problem. Okay, where did you see your GLP balance at? Well, just right here on this on this one right here, I'd have to go back a page. I guess I could go back and review this cool.
Okay, 199.6. So, should be 200. That would be rich.
because you're doing more than you have, but that's fine.
This is the part where I scam you. (laughs)
Oh, no, no, no. Like what? Taking all of your tokens. Very likely 15 to 15 to say over 15 seconds.
Okay, approve. There you go. Congratulations. Okay, so now I can supply, right? Mm-hmm. Supply. Supplying.
There you go. You've now deposited tokens into a DeFi protocol. It's super dope.
So now those tokens, it's something happens to that protocol. Those tokens are basically after, right? I mean, it's quite possible. Yeah, we can't do it. Yeah, so it is interesting where security starts to lie. So now you're, you have security on the protocol, right?
You have smart contract risk is what we would call it is someone could hack their smart contract and then take your crypto and The wallet risk you have is if someone hacked your wallet they'd be able to go in and withdraw your crypto So is the number that's showing in that nice little project?
pretty green circle the percentage that I'm making on what I just, Chris, Chris. Yeah, and now you can go and borrow a piece of this. Chris. Exactly. And just do it again, kind of thing. Yeah, exactly. Yeah, you just
Just go borrow USDC, you go buy more GLP, you put the GLP in there. You go buy more USDC, you go buy more GLP, you put the GLP in there. You can loop it out to the APY being like comfortably at 100%.
Where is your shitting mind? Yeah. Alright. Okay. I was talking to his.
This is the time for you to just like look at this and sing like I'm seeing but like every time I've ever looked at like a credit card statement and gone Jesus. I wish I could find something to make that percentage I Think that's higher than any credit card
percentage of the vibe ever paid and we haven't even looped yet. - Haven't even looped yet. Welcome to the fabulous world of DeFi where you can lose all of your money in a hot second. But if you know what you are doing, you can make money.
Sometimes even if you don't know what you're doing turns out that happens to that happens to I Love how we worked for an hour for you just to have the aha the last like one minute Where you're just I mean I understood what you were saying the whole time. I just didn't realize it like
I mean, I didn't realize that a 22% yield was an actual thing, to be honest, but I guess it's still just based on risk, right? Like, there's still a little risk around the risk. Well, that's the thing about like the Arbitrum community is there's so much T5 being built on Arbitrum.
All of the sexy things are being built on our own. One of the big narratives is real yield. People don't want just token inflation. They want actual fees paid.
This is an asset that collects actual fees paid from people who are doing things they actually want to do. You know what I mean? It's not like a lot of stuff. The APY is just like they're inflating the token, you know? In this case,
though, like the APY is being paid to you in Ethereum and the protocol is just buying more GLP with it and adding it to your collateral. That's how that works. Okay.
Beautiful. You have questions, comments, thoughts, concerns? Yeah, because I guess we're doing great on time, we're right there with our time. I guess, I mean, I guess we could do the whole looping thing next week.
Well, it's pretty simple. You just go buy more GLP you just borrow USDC and you go buy more GLP the reason I borrow GLP is because that the reason I borrow USDC is because that
that denominates my debt position in USDC. So if ETH goes through the roof, the value of my debt has not gone up. Does that make sense?
I'm not going to lie. I'm a little bit confused. Well, yeah, you see how you can borrow different things, right? You can go and borrow USGC. You can go borrow Ethereum. There's a number of things you can borrow, right? Okay. Yep.
So I can borrow USDC at 12.82%. Well, you're actually being paid 12.82%. If you highlight it, you'll notice, you see that it says 12.82 and then there's like a little USDC logo, a little 10D logo. So if you highlight over that, you'll
notice that USDC is paying 10% interest. If you borrow a 1000 USDC at the end of the year, you're going to owe a 1000 to 100. Granted, you were also earning 20% APY on your GLP position, so net your positive.
But then to incentivize you to use the platform, Tinder Finance is going to give you $220 worth of their token. So the Net APY is 12% as in you're being paid 12% to borrow money.
Okay, so I want to borrow USDC, right? So I just just click USDC right here on Tendrify. I'm not going anywhere else anymore. I'm just using Tendrify. Yep, like that. And it says how much and I can do 80% of max. That's nice.
Yeah, their interface is super clean So it's super easy. Okay, so now I just want to borrow that much USDC. Yep
it borrow. Boom! Confirm. Boom. Barrowing.
are successful. Keep in mind this time you're using USDC and not ETH to solve a change that
How do I change that? We'll just send a little swapy thing on GMX. So now you're over on GMX. You're trying to buy GLP again. So you're just going to go like, you see what I'm talking about? Oh, so now I have
to go over to the GMX site. Yeah. Now you have your USDC, now you're back to GMX. You're going to buy it. Okay. And on the right side, I have to go USDC. Yep. Yep. Makes sense. Yep. And then you just get your GLP. There you go.
or see something, something GLP approve. Yep, yep. I would name this space too, so the recording is named like GMHGLP or something Web 3301 looping GLP on Tinder 5.
I'm not a host so I can't do it.
Send me that in a thing real quick. And actually from now on, I want to whenever we rename it, let's rename it after the
title if that makes sense. It just makes it a really long title.
Or at least put GMOpless and then put the rest of it so that people can kind of identify. Okay, so I've done that now. I need to go back to Tinder. Fire, right? You got it.
Okay, now I'm back in Tinder 5. I need to supply. Supply GLP. You got it.
balance the receive. So, I made it in condition, I found the
You got it, you got it. Ho-be! But there it is. No, it says it's there. It's not called a hear. No, please.
Why isn't there a backsput?
Wait a minute, it's the private. What are we doing here? There we go. And I'm glad I didn't do that.
I guess it's never going to be about 200 again, mate. Well, I mean, you just have to set that allowance each time I think is time for a new Metamask. Yeah. Well, right now, I'm just looping it so I can just remember it's not, it can't be more. Right. Right. Right. I fixed, I fixed
the ledger. Yeah! Nice! I feel really I'm so glad that we did like in this like four or five minutes ago right because now Travis is over here looping and Jeremy may or may not have the first questions answered so he can maybe almost start moving things in. Nice!
So Micah, I have multiple wallets that can connect to from the ledger. Like ledger is like a master wallet for a bunch of other wallets that I want, right? So theoretically, the ledger also can control hot wallets if I want it to.
right? No. No? I can't have the ledger manage hot wallets for me. No, you can only, I mean the no. You have to have the private seed phrase inside of a ledger for that to work and you can't do that. The ledger manages seed phrases and said it has inside of it. Okay.
For my wallets, can I name the wallets within the ledger itself? Or do I have to rename them within my Metamask instance? You just name it all within the Metamask instance, and it'll only be named there.
So like if you had if you named them all venture things on the Meta mask on your computer then you went to your desktop, you know instead of like your laptop or whatever. Yeah, so then they're not going to be there on on the other Meta mask instance.
So I just have to remember that that wallet, like the first couple characters I get to remember, which one is which? Yep. Correct. Which is probably also relatively easy to do if I just check like an ETH balance or something. Correct, a Mundo. Okay. I was hoping there was some way to like
Name it on chain or something like well you just did an E and S you just buy an E and S You know you buy an E and S and then it names it like through the led like on chain so through the ledger. I will see that Yeah, it'll be all over the damn place I'm suddenly more interested in it
Okay, I suddenly care. I suddenly care. Yeah, you said it as you're resolving addressing. I'll do these things to you. Why is it waiting for approval? Now over here trying to buy more GLP on GMX.
Nice. And it says waiting for approval, but I haven't even submitted it yet.
Just refresh it or look at your Meta mask and see if there's a pending transaction or you know just fiddle with it. When in doubt fiddle with it.
Yeah, there we go. Yeah, just read. How do I see? Yes, with the ledger itself. How do I see all its within the ledger? I used to be able to do this and I'm still having trouble.
on ledger live you can also also when you click on when you click on connect wallet you know where we were earlier and you click on ledger and then you continue it'll pop up like
five wallets at a time. Yeah, yeah, yeah. Yeah. But we didn't let you know where I was at the point where I was able to see the sea my wallets and I wanted to see where that was located again and I can't seem to find it on my ledger live. It might be obtuse.
I can buy and receive. Welcome to being degenerates. Guys, like sometimes you'll sit around and you'll do like stuff and it'll
take five minutes and sometimes you'll sit around and you'll do stuff and it'll take all day. But this is how you learn DeFi. Congratulations. I think we should do like a ledger conversation next week that would be good. We could socialize that we're going to do ledger wallet stuff. Maybe even set up Travis's
Cool dudes. I'm gonna leave you soon. You know I'm gonna leave you soon. Thanks sir. Alright well
I'm I'm slightly spooked. I'm like I'm sure everything's fine, but I'm annoyed that I can't I can't access this so I'm just gonna use a hot wallet to do everything you guys just did because I'm an idiot. I'm using a hot wallet to do what I just did. I'm not doing this hotline. I let your wallet. I would. I would you want to
Mike, can you can you can you transfer to space and help me just troubleshoot real quick just so you can see what the difference is between your ledger and mine. Yeah, I mean, I'll hop on like discord and stream my screen. I could share with you. Um, I'd be interested in eating breakfast. Can I go look at your calendar and see what's see what's good.
Yeah, yeah, I could I could always do this later. I just this is one of those things on my list. So I'm glad I made some progress. Ledger was something was shit. You got a busy day busy day for Mr. Bearing me. Is it I haven't even looked. Yeah, you got a lot of calls throughout the day. Yeah, dude, let's let's do this. Um,
Let's do this man. Yeah, let's do this man. Yeah, I'm looking. I just want to get ready for some stuff today. I've got some I got a couple calls today that really mattered to me. I want to mine a screen share and get like nine. That'd be fun tomorrow. So I have a weird question.
Why would I borrow more? My API goes up higher in my borrow position than it does in my. Does that make sense? Yeah, you're earning money when you borrow. So that makes sense.
You're in tireless. You have a new life. So just keep looping. That's pretty much it. That's all I need to know for right now.
You can safely loop to about 10x on Tinder 5 is my experience. So if you had a hundred dollars, you should be able to get a thousand dollars in exposure.
So like here if you started with a hundred dollars of GLP you should be able to get it to a thousand dollars in GLP Okay
Cool, okay cool Okay Friends that position is beautiful bro like it goes from like 30 some percent to 54 percent that's nuts Ladies and gentlemen, that's a good day
a GD-D-Genning in D5. Much love. Appreciate you. I will talk to you all well probably before then but the whole crowd and all our fans next Tuesday. Let's do it. Let's do it. Cool guys. A piece. Have a beautiful day.