The new avalanche, defy ecosystem, is cross chain and doing some absolutely crazy stuff, and these coins are going to go absolutely nuts over the coming days and weeks as avalanche creates a snowball of new liquidity incentives and excitement strap in because, just like i told you, avax Was the ecosystem to watch, and almost every single coin that i mentioned over the last few days and weeks has gone ridiculously up in value. This is just the beginning and im gon na outline for you why this is so special, so come down the rabbit hole as we cast a spell over this new d5 landscape. Again, all this cutesy talk is gon na make sense in just a minute. If you guys are not subscribed to this channel each and every day, i show you how to make money and get ahead of trends in crypto and no ones called it like. We have so, if you like, making crazy gains in crypto, make sure youre subscribed and smash that bell button, so that you make sure you get every single update at the earliest possible moment with that said, lets dive in now. I want to say before i jump in here just like on my other altcoin videos. Yes, im invested into this ecosystem long term ive not sold a single avalanche coin. However, i need to make this completely clear. This is the deep end of the swimming pool, and this is where the advanced behavior goes on, meaning you could make it or break it here and you could easily see drawdowns of 80 90 or even more.

You could absolutely lose your shirt with these types of altcoins, so you need to understand. This is super high risk, super high reward type stuff, and you need to be prepared for losing literally almost everything if youre gon na play in this part of the swimming pool. You just got ta know that, with that said, lets dive in, as i mentioned last week, joe was one of my favorite coins in the entire ecosystem and still is its like the sushi swap of this ecosystem and im pouring myself a hot steaming cup of joe. I ate heavily into this have not sold a token yet, and i dont plan to i think, theres much much more upside here again. I also pointed out cryptically this project called wonderland or time thats going to be a heavy topic today on this video as well as apex, i talked about being a meme coin, so of course treat that, as you should, with a boulder of salt, they will pump And they will dump. I also talked about yield yak and, of course, the king itself avalanche, which is the safest play in this whole ecosystem, avalanche or avax is like the gas token of this whole blockchain. You can think of this, like solana, to the solana blockchain. The soul, token or ethereum or eth to the ethereum blockchain. These are the sort of base level assets that will be most safe, most likely to go up and least likely to go crazy down, though, of course i do believe avalanche is still in that emerging territory.

Where it could easily see drawdowns of 80 90 plus percent, so this is all super high risk. But that said, we did cover ben key avalanche avalanche uh, yield yak, wonderland and joe all over the last few weeks, and so weve been trying to give you the keys here to really get ahead of these insane market trends, but theres. Actually something brewing here in this ecosystem thats, even more special, even more interesting to me and in order to understand this were gon na, have to go down the rabbit hole in an alice in wonderland style, mystical journey here into magic land. Its all gon na make sense in just a second because were gon na, be jumping into an ecosystem here. Super low cap and super interesting called now just to be clear. None of my videos ever are sponsored or paid for that is not how this channel works. If ever i do have any person having any financial incentive on this show, i make it explicitly clear, but there is zero of that in this video or my previous avalanche videos or any of them. I tell you where i put my money. I put my money where my mouth is and i try to get ahead of the biggest trends like nfts like d5 and now the avax ecosystem anyway lets dive in here. Abracadabra money is a spell book that allows users to produce magic internet money. You, the spellcaster, can provide collateral and in the form of various interest bearing crypto assets.

In this case they provide a several assets, including x, sushi or yv, usdc, usdt or yfi, and well go into all of these. And what this means, and with this you can borrow mim or magic internet money, and this is a stable coin that you can use to swap with any other traditional stable coin. So abracadabra money, magical as it sounds, essentially allows you to take yield bearing assets in this case. Xsushi is an asset i can use by staking sushi, so i buy my sushi swap and if i want actual protocol fees from the sushi network, i can stake that sushi for whats called x, sushi and the x sushi token actually gives a yield. Now i can take this x sushi token and actually deposit it into abracadabra money, and i can mint the mim token, which is a stable coin, backed by yield producing assets. This will become very interesting, as we show you in just a second, when we talk about certain thought leaders in the industry and how they believe stable coins should be formed going forward, given that, essentially fiat currency is not so stable, with hyperinflation seeming to be rearing Its ugly head now, whats, actually interesting about magic, internet money or mim, is that it is cross chain and its actually pooled, with three of the other biggest stable coins on curve. So curve is a stable coin trading platform that fundamentally allows you to really easily get between stable coins.

Now this might not sound like that big of an issue, but when you see that a lot of coins on uniswap have like big slippage of a few percent or more for trades of ten thousand twenty thousand dollars well, you realize that when people are moving global Commerce around and they need to move millions of dollars say between usdc and usdt theyre, both stable coins. So it should really be easy for you to make a one to one swap, no matter how much money youre moving around even a million dollars or more so having high liquidity, pools that are designed to help you get from one stable coin to another is actually A core, primitive big, big necessity for defy if you really want crypto to take over as a financial layer of the internet, it must be super easy to get between currencies of the same value thats when curve comes in, and so what you see here is that This mim3 pool and by the way the naming conventions here in d5 are way too confusing. That needs to be changed but thats a different topic. The point is this: mim 3 pool allows you to easily get between mim die, usdc and usdt, and you can easily trade between them so its a stable coin, where you can easily get between other stable coins. Now, by staking and lending liquidity or lp tokens, you can actually earn a coin called spell spell: is the governance token here of this magical ecosystem and spell is one of the things that is really exciting to get your hands on and what people are farming now? What we did see is that alameda backed by sam bankman freed here this is their big financial entity that goes in, invest in things and does farming.

Essentially, this invested in solana. This is behind ftx alameda is kind of like the big. You know death star of operations here for the sam bankman freed empire. Alameda is now touching abracadabra with what this one user is calling farm and dump cash, meaning that theyre just putting a bunch of money into a pool farming the token and selling it now. This was accused of what they were doing with sushi early days, so its really important to actually see a lot of these things take place. So you can start recognizing patterns now. Spell very well might be an early stage d5 protocol that takes huge, huge market share and thats. Why its worth paying attention to here so he says, sell me as much spell as you want and f off now. Of course, this is a play on when sam tweeted at someone sell me as much solana as you want at three dollars right now and f off, because that was right before the parabolic rise and it goes down as one of the most famous tweets in all Of history now, of course, he says, look what you did with convex and i countered you there too right at two dollars, so hes saying look. They were doing this at convex farming and dumping. They did this to sushi and now theyre doing it to abracadabra. Spell trust me this is a great group of tokens to be associated with and were going to soon, dive in and see why this is actually interesting from a technical level.

Now remember when i told you that cross chain bridges were one of the most important things to focus on and i specifically shouted out any swap. Well, guess what any swap is back in the frame again, as you can actually bridge mim tokens across chains via any swap network right on the actual interface here, so you dont even need to go to another chain or another interface. You can literally bridge from phantom to avalanche or from ethereum layer, 2 arbitrum to either of these chains without ever leaving the actual interface there. And apparently it happens in just a few minutes. Its super super quick, so the bridge is fantastic and that allows for mim to be cross chain and really hop around protocols very easily and now to illustrate the power and the speed that this particular industry, or this particular ecosystem, rather is upgrading itself. We can look for a tweet here by bridged danielle, who is actually the leader here of hes the developer behind this whole magical ecosystem – and you see this hat come a hat thing thats, like the sign that people are using on crypto twitter, to indicate that theyre Playing ball in this ecosystem, so sisyphus was saying: where does the 1.6 billion dollars in tvl in nian? Go after the farm ends in two hours and of course the nian farm was the one that was taking root on arbetron. Now all of this liquidity was over. There but the farm was about to end, so where does all that liquidity go? Where does all that tvl go? Essentially, sisyphus said all the answers here are wrong.

The right answer is, it probably goes back through the bridge unless om abracadabra can get something incentivized in the next six hours, or so i bet pretty much all the money that had flown into arbitrary over the last few weeks, of which there were billions. A lot of that was going to leave unless there was a new incentive program to keep that sort of promiscuous liquidity on the chain and within just a few minutes. Here we saw that bridge daniel says how about the next 30 minutes, and that is the speed of action required to partake in whats a crazy and rapid moving defy ecosystem. So we quickly saw action here by the abercadabra community as they went to go capture this nyan liquidity and bring it over to the avax or the abra cadabra ecosystem. So they said really quickly. Deposit ethan be able to withdraw your mim within 24 hours and they were offering a 1 million airdrop, and this happened within minutes of realizing that the nian farm was going to run out of gas. And then another user said i deposited eth on on arbitrom and became eligible for a 1 million. Airdrop borrow the decentralized stablecoin mim and send those mim from arbitron to phantom in just 5 minutes via any swap network and mim spell the magic of spell and thats what hes saying this is how everything should look like ultimate freedom with mim airlines. But of course, this connects with more than just phantom and arbitrary.

It also connects to avalanche. So now we connect this whole ecosystem with popsicle finance. Popsicle finance is a multi chain, yield optimization platform for liquidity providers, turn on our autopilot, relax and boost your yield. Again. This is a big trend of everything that andre cronier touches is the ability to increase, yield passively and automatically, and this is what popsicle finance is promising again, this is from the roots of an ecosystem that was built off of wi fi right, its founder, created, wi Fi andre cronier, not that andre crony created, popsicle finance, but andre cronier is behind the phantom ecosystem, which popsicle finance is on as daniel. Of course, the chief architect here, danielle daniel, not quite sure anyway, popsicle finance, plps new design, allowed them to be used as collateral across the abracadabra ecosystem, including lemonade on phantom avalanche, as well as uniswap v3 vaults. On arbitrum, oh yeah, we are relaunching with arbitrum support from day one again, so now you see here that this is part of the interlinking here of the ecosystem. Lets explain now. Finally, we get to a pretty degenerate aspect of this. Some have called this project a scam. Some have called this project other less than savory words, and i just want you to understand that its an anonymous project not backed by daniel, not backed by the abracadabra ecosystem, but it is backed and it is using and leveraging the mim token. So it is an opportunity for mem holders to leverage their holdings to earn something called time now.

This is a sort of fork of the ohm ecosystem, but om has this insanely passionate community called the omis time is for lack of a better word, just a little bit of a copy and until proven otherwise is an extreme high risk play that should be considered. The extreme extreme, far right bell curve of risk here, consider any money you put in here absolutely gone and be happy if it comes back to you thats. The type of approach here now wonderland is the first decentralized reserve currency protocol available on the avalanche network based on the time token, each time token is backed by a basket of assets, eg mim time, avax, lp tokens, etc, etc. In the wonderland currency treasury, giving it intrinsic value that it cannot fall below wonderland also introduces economic and game theoretic dynamics into the market through staking and bonding in the long term. We believe that stability and consistency so that time can function as a global youth of account, blah blah blah blah blah look. This is just an interesting concept here and the only reason why its interesting to me and again im not putting a lot of stock into this because its a lot of buzzwords. But the reason why its kind of interesting is that this really parodies kind of what brian armstrong was saying here, with mim and time about baskets of assets, backing currencies to provide intrinsic value again. This is more of a concept of how we achieve a timeless flat rate object that does not move with inflation or asset appreciation that essentially something like a dollar that i know that if i buy a house for a dollar that, unless theres a rush on that Neighborhood that the house is not naturally just gon na increase in value against that dollar, essentially a stable asset that is not actually fiat currency, which gets printed like crazy, but its backed by a bunch of consumer goods like houses like medical care.

Like you know, internet those types of things, so to summarize here i think squirrel of valhalla puts this pretty. Interestingly, initially we launched mim as a utility to leverage up on ib tokens interest bearing tokens and to eventually use leverage lp on popsicle finance. Now we see a vision, thats much bigger than that from this utility mm will become a de facto decentralized basket. Stablecoin mim is currently seeing a steady growth with tvl, currently at around 500 million dollars, with an average ltv of 75 percent, meaning that essentially, this would have to fall down to 25 or less of its value to start liquidating uh the holders who have borrowed to Get this mem token against their underlying basket of currencies with collateral value coming from 11 different assets across four different chains, l1 and l2. Considering that more and more activities happening on different chains having a stable coin that is backed on various chains distributes chain risk, which weve seen yesterday is clearly important. A stable coin that is available in easily transferable across all chains is extremely powerful slowly, but truly the darkhorse stablecoin mim will be held in wallets just like any other stablecoin now. What i think is really interesting here is the concept of were seeing the sec start to go after the possible usdc stablecoin were seeing the need for potentially non collateralized stablecoins, as that might actually come under the regulators purview, but we need decentralized, stabilized assets and wouldnt, Be interesting if we had stablecoins that were actually backed by yield bearing assets and those yield bearing assets kept the stable value actually at a value that accrued over time.

So it wasnt just stabilized at a certain fixed rate, but it was stabilized by yield bearing assets. Thats a really really interesting concept. Here again, this is super experimental, but we can see that this is approaching. The concept here outlined by brian armstrong – and all i want you to know, is that it does seem that there is a little bit of magic going on here with all of the development. The liquidity and the actual innovation happening around abracadabra money and the mim token magic internet money spell abracadabra yep its a lot to take in cross chain liquidity, bridges yup its a lot its a lot. I know but understand that, although this world is pretty high risk learning to understand the innovations going on here will not only make you smarter and better prepared to handle crypto in general, better understanding of the actual world that is being cultivated here in defyland. But it could very well get you in early into the next yfi, the next titan of defy again. This is extreme high risk here. In fact, there have been plenty of hacks, including popsicle finance itself was hacked in its early days. They were able to essentially recover funds and repatriate funds to their users, but the point is this: stuff is high risk theres protocol risk theres risk on a lot of sides here, but the reason why i bring this up is that these nascent cross chain ecosystems between Phantom and avalanche and l2 ethereum with new types of stable coins that approach the kinds of ideals that are being outlined by thought leaders like brian armstrong, essentially outside the regulators, purview like that of the sec as they might be going after usdc.

These are the types of huge huge 100x hacks that could completely evolve. D5 could completely evolve the crypto ecosystem as we know it, and for that reason they should absolutely be experiments that are on your radar. Now am i saying to go? Buy any of these? Absolutely! Not i want you guys just to learn about this stuff and understand whats, going on the more technical you become, the less scared of peeling back the layers and looking at how protocols, liquidity and different types of yield opportunities exist in d5. The more that you too can become a big brain, be early to these ecosystems and be the recipient of much pumpage and much honor. Now i do believe that this is still very nascent, but i am a strong believer in the avalanche ecosystem in the phantom ecosystems and, of course, l2 on ethereum. So, of course, im gon na be excited when all of those things are being linked together and then throw in a little any swap bridge and im a happy happy camper. At any rate, i hope you guys learned from this. If you got some value out of it, smash that, like button, it really helps the channel. As always, if you want the absolute earliest tip offs on the most valuable ecosystems in the entire crypto space, then all you have to do is subscribe and put that bell. Notification on because were coming out with not one but multiple videos, each and every day helping you get ahead and stay ahead of this market.

Youre definitely not going to want to miss a single episode as it could be the difference between getting into joe getting into avax getting into some of these projects super duper early. We covered phantom at 3 cents back in 2020. So if you were there for that, youd be up 50 60 x by now. All you have to do is be subscribed and be following the channel and youll be two steps ahead. Looking around the corners with me with that said, i thank you guys so much for watching my names elliot trades. You can find me on twitter at elio trades. The link is in the description, make sure youre subscribed and following over there as well, you dont want to miss a clue. Trust me and ill see you very soon.