Crypto Tips & Tricks - 2
Whether you are starting your crypto journey or you have an intermediary level in all things crypto, there is a good probability that you will be interested in these Crypto Tips & Tricks.
In these articles, we share our knowledge on how to:
Find the information you are looking for on a specific topic:
Number of tokenised BTCs on Ethereum, what is the Gas price atm, etc.
Save on fees:
Whether using Ethereum, DEXes or centralised exchanges.
Impermanent loss, farming APY, etc.
Today, we talk about Gas tokens, Uniswap tokens with candlesticks, impermanent loss calculator.
1) Did you know you can use Gas tokens on Ethereum?
Gas tokens allow you to tokenise the Gas you pay when you execute transactions on Ethereum network. For some months now, Gas has been very expensive and it costs a lot to push an action to the Ethereum network, whether sending tokens, trading on Uniswap etc.
However, there is a solution to pay cheaper Gas: buy Gas token when Gas is cheap and use it to pay Gas when it becomes expensive. As a result you will be able to save a lot on fees paid.
There are two tokens which do that: Gas Token and Chi Token (to be used only with dex aggregator, 1inch exchange).
As said last time about Gas being cheap on Sunday nights and the most expensive on Thursday, we imagine there are already bots working to close that arbitrage opportunity.
2) Looking to see your favourite Uniswap token with candlesticks?
You can use Uniswap Vision, here.
3) Looking to provide liquidity on Uniswap?
Check out that impermanent loss calculator for: here.
The tool provides a comparison between providing liquidity in a Uniswap liquidity pool and holding:
the selected token at 100%.
ETH at 100%.
a 50/50 mix between ETH and the selected token.
For example, providing liquidity on SNX from June 11 to September 11, would have resulted in an opportunity cost of 10.82% (a loss of 10.82%) compared to simply holding both ETH and SNX.
Fortunately, not all pools have negative returns.
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