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By TraderJeff · Posted
In a week when reports were few, DAX was affected if perhaps less so, on 14th May, following USA PPI reports. DAX went down to 18,621 and almost straight back 83 points in one minute. It is very important to have stops and limits in place. My Stop was at 18,741 (my Entry price + 20 points) and Limit at my Third Take Profit Target of 18,650. The trade on 17th May was more straightforward (see charts below) -
If you've encountered Drift Protocol but couldn't quite comprehend its role in the DeFi realm, this article aims to elucidate the project's mission and its attempts to address major hurdles in the world of decentralized trading and finance. Fundamentally, Drift Protocol is a decentralized exchange (DEX) built on the high-performance Solana blockchain, facilitating transparent, non-custodial trading without any central entities holding custody of your assets. All transactions occur directly peer-to-peer through secure wallet integrations like Phantom, eliminating the necessity to entrust shady centralized exchanges with your hard-earned crypto. However, Drift transcends the boundaries of a conventional DEX. It's an all-encompassing ecosystem encompassing spot trading, perpetuals, borrowing, lending, staking, and liquidity pools – the entire spectrum. Remarkably, they even offer automatic yield on your account holdings, essentially providing free money for your consideration. What truly sets Drift apart is its cutting-edge liquidity solutions. They employ multiple mechanisms such as limit order books, AMMs, and an innovative "Just-In-Time Auction" system that brings in market makers to provide on-demand liquidity for traders. It's akin to having an entire army of liquidity ninjas at your disposal. Their Dynamic AMM is a game-changer as well. Unlike the static liquidity we're accustomed to, it dynamically adjusts and recalibrates the liquidity pools based on real-time trading demand, translating to better capital efficiency and reduced slippage for traders. And let's not overlook the bots! Drift has an integrated bot system that allows you to automate your trades and execute complex strategies far more efficiently than manual execution. With over $340 million in total value locked and nearly $19 billion in traded volume from their 169,000+ users, Drift Protocol is clearly onto something substantial. Moreover, they recently raised $23.5 million in a Series A funding round led by Polychain. Drift Protocol is truly pushing the boundaries of what a DEX can be – aggregating various DeFi services, solving liquidity challenges, and providing traders with professional-grade tools, all while maintaining full decentralization on the Solana blockchain. This project has certainly piqued my interest, and it could be a game-changer for us crypto enthusiasts. -
Allow me to unveil the revolutionary Lifeform project – a groundbreaking development in the realm of virtual identities and avatars for the web3 world. At its core lies a mind-bogglingly innovative concept. They've developed a state-of-the-art editor that empowers users to create hyper-realistic 3D virtual human avatars, which can serve as digital identities across the metaverse and web3 applications. Brace yourself for a staggering number – over 10 billion possible combinations of facial features and body details, all powered by the cutting-edge Unreal Engine 5, the very same technology behind blockbuster movies and top-tier video games. Impressive, isn't it? But here's the real kicker – these avatars aren't merely for virtual worlds. With Lifeform's DID solution, you can actually utilize your custom avatar as a login method and verified identity for any decentralized app or metaverse platform. It's an NFT-based digital ID that seamlessly grants you access to the entire web3 ecosystem. Remarkably, as early as March 2023, Lifeform had already become the most widely used dApp on the BNB Chain, boasting over 3 million monthly active users. This rapid adoption is a testament to the virtual identity concept's meteoric rise. On top of that, their AI analyzes user activity across blockchains, providing personalized service recommendations based on your crypto asset management strategies. It's a sleek, all-in-one web3 identity platform like no other. And the surprises don't end there. These avatars aren't limited to the metaverse; you can beam your virtual self into Zoom calls, Google Meet, online conferences – you name it. Your avatar mimics your movements and expressions in real-time, courtesy of their cutting-edge plugin. It's like being a real-life hologram! Lifeform is single-handedly bridging the gap between our physical and digital identities in an incredibly accessible manner. They are undoubtedly the key to onboarding the next billion users into the web3 space. It's a genius concept, if you ask me. You can check out it's token $LIFEFORM on the Bitget exchange as it recently got listed.
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