How to develop the "number one player" in Ethereum's DeFi money game?
Editor's Note: This article comes fromBabbitt Information (ID: bitcoin8btc)Editor's Note: This article comes from
Babbitt Information (ID: bitcoin8btc)
Babbitt Information (ID: bitcoin8btc)
, by David Hoffman, translated by: Overnight's Porridge, published with permission.
Last November, we discussed the concept of an Ethereum money game. In short, Ethereum is a wealth maximization game platform.
Ethereum is a state machine with rules and turns that allow players to perform actions. Every block, players can move, and the rules of the game they are playing are formulated by Ethereum's smart contract and implemented by Ethereum's EVM.
As we speak, there are games being built, deployed and run on the Ethereum platform.
I'm talking about the money game.
Applications on Ethereum provide financial rewards to their players, and to realize these rewards, there may be a series of rapidly growing initiatives.
The money game is a speculator's paradise, it is inherently addictive because winning the game means making money. Such games are appealing because they create the possibility of going from poor to rich.
Like all games, some players will outperform others. If this is your first time playing a game like this, you might be falling prey to someone else.
Like all games, you need to spend some time understanding the game and improving yourself.
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New valid Move
As of now, 2020 has been defined by many different valid moves that have emerged in the Ethereum and DeFi space.
Compound and COMP: Token Distribution via Supply Assets & Governance;
Ampleforth and AMPL: 'Rebasing' self-adjusting supply;
Yearn and YFI: Yield farming and cash flow & treasury governance;
All these different protocols, and their respective mechanisms, add something new to the already known arsenal of mechanisms available in the DeFi space.
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First Rule: Survive Yourself in the Game
In reality, winning the Ethereum money game depends on how players define winning. Only you can decide what constitutes a "win". Your winning conditions may be different than others, and if you see ETH whales on Twitter making a specific move in the DeFi space, it may be because it suits their playstyle and their offensive and defensive abilities.
If you want to be good at the sport, you first have to learn how to play it. When you discover a new game, you don't start on "Expert" difficulty, you start on "Easy" or "Normal" until you feel ready to move on.
The great thing about Ethereum is that it is an infinite game. As long as Ethereum creates new blocks, new Moves can be made. However, you as a player may lose your resources, ultimately severely limiting your available moves.
The number one rule is that you always put yourself in a way that will keep you in the game. Breaking this rule means game over, and as long as you don't break this rule, you'll always have a chance to accumulate wealth.
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AVOID GAME OVER AT ALL COSTS
As you accumulate wealth, you unlock more possible moves. Having more money and more knowledge makes it easier as long as you don't make mistakes.
Unlocking all moves is how you win the game.
I personally haven't unlocked all possible moves yet, I'm still learning like everyone else! And ethereum developers have found only a small number of valid moves.
- David
