Hello everyone

I am new to cryptocurrency and have heard a lot about staking and Yield Farming. But there is one problem, I do not know where to look for similar projects. I have traded on binance and participated in staking there several times.

For example, yesterday I started staking NEAR on binance. The APY is about 54% there, but it will last a few days. And I would like to stay longer. I've been trying to find the stakes that suit me, but I haven't found anything at the moment.

That's what I'm looking for:

1. Not a very risky pair of assets

2. APY above 30%

3. Small fees

4. Fast Blockchain

Hello!
I want to know how you choose projects for investment?
At the moment I'm focusing on the Near Protocol.
I bought it back in early April and don't miss the chance to mention it.
What did I focus on when choosing it for investment?

1. Team (most of the famous developers worked in google and facebook)
2. Strong community (more than 100k on Twitter and a very strong forum)
3. Own blockchain (develop their own structure with their own EVM and cross-chain)
4. Solving existing problems in cryptocurrency (high fees, transaction processing speed, scalability)

This is a very brief description. At the moment I am faced with the choice to add a few more such projects to myself. Share your knowledge.

This is an example of a cross-chain. Now by the way Aurora is starting compatibility with BSC

A very good thread. I remember the first time I tried to buy NFT on Opensea, but when I saw the gas price of $ 160, I realized that I could live without NFT.
We need to look for alternatives, I know about
Paras.id

The era of cross-chain projects has come. Look at how Solano has grown. All this is due to the fact that people are moving to more convenient and cheaper projects, where they create defi projects.
Look at $NEAR now, for me this is one of the best and most promising projects.

So, we all see the explosive growth of cross-chain projects at this moment. I want to put forward my theory of what this is connected with and what the outcome will be, I also want to highlight several projects in which I trace a huge potential.

The problem of ETH has long been clear to everyone. It is too old and does not have time even for 10% for competitors, POW, huge commissions, slow — that’s its main problem.

At the moment, there are a huge number of other projects that have easily solved these problems and they show explosive growth, let’s take an example of why this is happening.

First, I’ll show you a screenshot that explains almost everything.


As we can see on September 7, there were such commissions on the ETH network, this is not a joke, not photoshop, this is a real screenshot. Users were ready to pay from $ 73 for a simple transaction. All this is due to the problem of scalability of ETH, GAS is formed on the basis of an “auction”, i.e. people are ready to give such an amount of gwei for conducting a transaction.

I don’t know what kind of users they are, probably some billionaires, because an ordinary user simply can’t afford such commissions. All this makes ETH simply unattractive for ordinary users.

The growth of ETH in 30 days is currently 11.3%


Now let’s take a look at cross-chain projects, I suggest considering the growth of Near Protocol, Solana, ADA without a technical justification for each. I will explain why they are growing and we will highlight those that will grow further.

Near Protocol


Solana


ADA


The thing is that these projects are aimed at improving interaction with users, lower fees per transaction, faster blockchain and other features.

Let’s see why Solano has turned into such a powerful rocket. It’s all the fault of DeFi, which became a big push for the development of prices, and also added a huge amount of liquidity to Solano, all this made it just a launch pad for rockets that come out on this blockchain.
This is what technologies that improve the main idea of ETH mean. Of course, Solano has further growth potential, but at the moment many analysts consider it overbought.

Of the three, I would single out Near Protocol, which is now just preparing to take off. He recently made a new ATH and is not going to stop. Its advantage over Solano and other blockchains is that it has 100% compatibility with ETH and when users realize that ETH is in the past, all the liquidity will flow into NEAR.

I studied the project and there are a huge number of advantages, starting from a developed, but still new ecosystem with its own swap’s and IDO, ending with its own EVM and a university for WEB 3.0 developers.
EVM Aurora is an excellent development from the team, it allows you to transfer your tokens and even projects to the NEAR ecosystem without much effort. A very powerful team that worked at Google, Facebook and Microsoft gives confidence that their technologies meet all the requirements and will continue to develop.
Imagine what will happen to NEAR when new DeFi projects appear there. Even now, some of them are collecting 20–30 million dollars for IDO and this is just the beginning. I am sure that this system will develop.
My DYOR assumes that the NEAR Protocol has just started its way to the tops. I think that its price by the end of the year will be about$ 50–70 per token with this approach, which they are currently demonstrating.
This is not financial advice DYOR, but my heart is fully with the NEAR team right now.

OMG PM me please. I have a one great idea!

Dude, try Near.
You can use it 100%.
There is its own EVM, a Blockchain that is much faster and more economical than Ethereum and other cool things.
Study it!

Lol. What can we say about the decentralization of bitcoin that it has long been not anonymous. This is nonsense. Bitcoin is a big and old shield coin on which nothing will be created, this is the bottom.
Ethereum, BSC, NEAR - all this will lead the cryptocurrency forward, and not this piece of shit.

You can try $NEAR
This is a great opportunity to make money on stacking. 

Hey dude.
I think you should try Near Protocol.
They have their own EVM and Bridge.
You can develop on Near!
https://aurora.dev/

maybe

I've also heard about Near. Now there are about 11%
 https://www.stakingrewards.com/earn/near-protocol?page=1&sort=stakingReward_DESC
I think this will be promoted in the future.
Look here https://cheddar.farm/

I agree with the author of the topic. You do not need to pay attention to shield coins like $pepe, $meme and so on. This shit will definitely fall and never recover!
It is better to pay attention to coins with potentially new technologies.
Near Protocol for example. They look great now and are quite inexpensive, I expect good growth as soon as they conclude a big deal with the government or some IT sector company.

As I understand it, the team knew about the errors after the first hack, but deliberately took a risk so as not to stop the blockchain.

Hey guys. For 2 weeks, we were visited by several sad things about Thorchain, the first hack occurred last week, which allowed hackers to steal 4000 ETH, the second case occurred already this week, the hacker was able to steal more than $8 million.

After the first hack, the project team had a choice, either to launch the protocol again, knowing about the possible risks, or to stop the blockchain for 6 months to conduct a full-fledged audit.

We know what we saw in the end. The team decided to take a risk, well, the risk was perceived by hackers as a challenge. As a result, we have a second hack, which has become even more destructive than the first.

The attacker took advantage of the refund vulnerability, here is the sequence of his actions. The network was halted during the attack, Refunds and LP withdrawals are still allowed. The attack can be named as Lack of proper multi-event handling. The hacker targeted a refund logic.

The simple attack steps:

• The attacker created fake router (Contract Address), than a deposit event emitted when the attacker sent ETH.

• The attacker passes returnVaultAssets() with a small amount of ETH, but the router is defined as an Asgard vault.

• On the Thorchain Router, its forwarding ETH to created fake Asgard.

• This creates a fake deposit event with a malicious memo.

• Thorchain Bifrost intercepts as a normal deposit and refunds to an attacker due to a bad memo definition.

Here’s what he managed to steal (~$8M USD) using such a simple logical chain.

966.62 ALCX

20,866,664.53 XRUNE

1,672,794.010 USDC

56,104 SUSHI

6.91 YEARN

990,137.46 USDT

The address of the wallet that participated in the creation of the smart contract.

https://etherscan.io/address/0x700196e226283671a3de6704ebcdb37a76658805

Other wallets of the attacker:

https://etherscan.io/address/0xc145990e84155416144c532e31f89b840ca8c2ce

https://etherscan.io/address/0xf56cba49337a624e94042e325ad6bc864436e370

https://etherscan.io/address/0x8c1944fac705ef172f21f905b5523ae260f76d62

Full analysis: https://github.com/HalbornSecurity/PublicReports/blob/master/Incident%20Reports/Thorchain_Incident_Analysis_July_23_2021.pdf

One more important feature was that a Twitter user under the nickname @bantg found that no approvals are needed to call the RUNE transfer function, as previously stated.

According to Banteg, it is enough to create a contract with the RUNE.transferTo function and transfer any amount of RUNE to the creator’s wallet, or any other wallet that will be registered in the owner.

At the moment, BEPSwap from Thorchain is completely suspended.

https://chaosnet.bepswap.com/

The blockchain explorer also does not work

https://viewblock.io/thorchain

https://thorchain.net/#/

What mistakes did the creators of Thorchain make?
I will say right away, my opinion is not expert and does not carry any negative assessment of the actions of the developers, I’m just expressing my thoughts. And so let’s get started.

The developers themselves admitted that their product is very difficult to implement, since it contains a large number of cross-chain options. Uniswap and other DEX, swap was implemented on Thorchain not using wrapped coins, but directly.

I mean, when you change BTC to LTC via BEPSwap, then you do not get wBTC or wLTC, as on UNI, but immediately change BTC to RUNE, and RUNE changes to LTC in automatic mode. This is a simplified example, everything is a little more complicated

The main mistake is that the developers have concentrated on a large number of blockchains. By creating opportunities for more flexible exchange, developers missed important security points, sometimes neglecting them in favor of easier use.

Thus, we have spaces in some moments of vulnerability. I really hope that the developers will fix their shortcomings, and the hacker who hacked Thorchain will show up and return all the funds.

What conclusions can we draw?

Despite a long period of time, the market of DeFi products and cryptocurrencies is still at the stage of its maturation, such situations have occurred and will continue to occur in the future.

But among all the options, you need to be able to find those opportunities that will be safer. I want to say now that you need to choose more carefully.

Here are the selection criteria I would suggest:

The team has been developing for more than 10 years and has experience working in large companies;

The team pursues ambitious goals and has really working products;

Developers are focused on a few key things, rather than trying to keep up with all the features;

There is a strong community;

During the existence of the coin, it has not had any serious security problems;

I have long identified such a project for myself. I like Near Protocol, no matter who tells me what. I see a potential geometric growth of development here.

Look, everything is simple. I understand that it is wrong to compare the two protocols, especially after the incident, but I will do it.

Firstly, Near Protocol has a very well-known development team that has worked in Facebook, Google, Microsoft and other large companies.

What does this mean?

At least the fact that they were trusted by big players. The second is that any exploit or hacking will jeopardize the competence of developers, and they value what they have accumulated for more than one year.

https://near.org/team/

The ambitious goals set by the developers of the Near Protocol are not only to simply create a swap that would support several blockchains, but to create a full-fledged competitor to Ethereum.

They cope with this perfectly, creating good conditions for beginners and already experienced developers. You can develop and issue contracts on the Near blockchain, ten times cheaper than it is on Ethereum.

The development is implemented using own EVM.

https://aurora.dev/about

You can also easily transfer ERC 20 to Near, using the Aurora Rainbow Bridge. Here, I would stop in more detail and explain to you why this approach is better than using Thorchain.

The Aurora Bridge, as a part of the NEAR Rainbow Bridge, is the only fully trustless asset bridge in the Ethereum industry.

https://ethereum.bridgetonear.org/

The main difference between rainbow bridge is that it is an unreliable bridge, at the moment it is the only solution on the market.

Interaction occurs only within the two blockchains without conflicting between each other. The powers of Near are limited only by the Near Protocol blockchain, respectively, Ethereum interacts within its blockchain.

An example of using Rainbow Bridge.

Suppose Alice wants to transfer X DAI to Bob on NEAR blockchain and she initiates the transfer from RainbowCLI/RainbowLib;

RainbowLib first sets an allowance to transfer X DAI from Alice to TokenLocker;

It then calls TokenLocker to grab those tokens resulting in TokenLocker emitting event “Alice locked X tokens in favor of Bob”;

RainbowLib then waits until EthOnNearClient receives the Ethereum header than contains this event, plus 25 blocks more for confirmation (see note on Ethereum finality in opening section)

Then RainbowLib computes the proof of this event and submits it to the MintableFungibleToken contract;

MintableFungibleToken contract then verifies that this proof is correct by calling EthOnNearProver;EthOnNearProver, in turn, verifies that the header of the proof is on the canonical chain of EthOnNearClient, and it has the required number of confirmations. It also verifies the proof itself;

MintableFungibleToken then unpacks the Ethereum event and mints X nearDAI for Bob, finishing the transfer.

Accordingly, you can only interact with the bridge directly, it is impossible to create a contract that would interact like what we saw in Thorchain.

This is a great technology that inherently has no boundaries, I am sure that developers will introduce interaction with other blockchains and applications so that users can transfer their assets to the Near blockchain.

Rainbow Bridge Documentation: https://near.org/ru/blog/eth-near-rainbow-bridge/

Conclusion

What happened in Thorchain is truly terrible. But we must not forget that this is a market that is always volatile and very young. I am sure that the developers of Thorchain will do everything in their power to prevent this from happening in the future.

Oh, thank you. It looks very cool))

I searched for information.
I found several ETH competitors in fact.
The closest in terms of liquidity is BSC and TRON. They look good and they have little commission.
But you know what?
I think everyone should pay attention to beginners. Remember the crazy airdrops from 1inch and Uniswap. I then earned 8 thousand dollars from scratch)
I am now thinking of making an exchange for several newcomers of the Near Protocol. They have their own big swap ref.finance, it seems to me that they can distribute some bonuses for their first users.
I don't know, I'll just make exchanges everywhere) Maybe it will bring me money from scratch)))

every year I hear this.
transactions will become cheaper, we will get away from this, exchanges will become faster, but so far everything is only worse.

My acquaintance with Ethereum began in 2017, then it was a very good technology. Probably everyone remembers, ICO, Bounty, crazy profits! I have been through this and am very grateful to ETH, but now everything is different.

If you did not use DEX, did not trade in the DeFi sector, then I envy you very much, because it was simply impossible to do this on the Ethereum blockchain LOL)

I started trading in DEX last summer, undoubtedly it was the easiest profit in my life, but then everything changed dramatically)))

With the arrival of more and more new users, the increase in the price of Ethereum, the huge load on the network, I was just shocked by the commission.

On average, I spent about 1-2 thousand dollars on a transaction. When the commission was $30 for the sell/buy exchange, then you don't really notice it. BUT when the commission became  $150 one way, I realized that this was just a robbery.

Yes, I understand that when you change 20 thousand dollars, you don't think much about it. But when you give 15-30% of your turnover to a transaction for a commission, it's just shit.

I spend a thousand dollars, and I give 150-200 dollars just to nowhere! What kind of nonsense is this guys?) Can't you see that Ethereum is just a piece of shit?

And also this famous Failed))) hahah. Do you think that you will not pay for the canceled transaction? LOL) You will pay 2-3 times if the hype around the coin is huge and your slippage just does not have time!

As a result, I stopped trading on DEX. I was looking for alternatives like Tron DEX, EOS DEX and so on. But due to the low liquidity, you will not earn a lot of money there.

So here's a question for you, everyone who trades on DEX from Ethereum. Don't you feel sorry for your money at all? Do you want to wait 10 minutes for an exchange? Do you want to see failed every time you did not guess the commission? You guys are masochists!

Switch to other DEX, use other blockchains, forget about Ethereum with their eternal promises!

Let's discuss what alternatives to Ethereum currently exist? Let's figure it out together!