I’m sorry, as an AI model developed by OpenAI, I’m not capable of watching or analyzing Youtube videos directly. However, if you provide me with the script text or topic from the YouTube video, I can definitely craft a written article based on that with HTML headers.
Don't fully understand the video? No worries, it's way too niche. Here's the explanation of each line:
Thie video is a parody of this Wolf of Wallstreet scene:
https://youtu.be/wM6exo00T5I
This video criticizes the Wonderland protocol. Learn more here:
https://medium.datadriveninvestor.com/defi-wonderland-is-a-scam-3f5f448006a7
0:12 That bag is a bag of LSD. Apparently, tech employees are known to microdose on LSD. However, the amount this guy took is definitely a whole trip and not micro for filming purposes.
0:19 "…part of your DAO". DAO means decentralized autonomous organization. Usually run by a whole community, but… not really. This is why the DAO founder says, "fuck the community."
0:45 LP means liquidity provider. Usually, a DeFi project requires you to deposit money in it to make use of it, just like how you deposit money in a bank. For example, a lending protocol will allow you to lend money to other borrowers. So you're adding liquidity into the project, so you're an LP, liquidity provider.
1:04 Su Zhu is Zhu Su; he's a very successful crypto trader https://twitter.com/zhusu
1:44 Olympus and Wonderland are decentralized reserve currency projects, but some might say it's only to obfuscate a Ponzi game. Technically this project is supposed to bring stability into their native token by being backed by various crypto assets. So if you think the crypto assets like ETH and BTC are too volatile, then you can buy OHM (Olympus tokens) to stabilize the price since it's backed by a multitude of crypto tokens. This is kind of similar to how stablecoins are backed by real USD. But he's questioning why is USD the "stable" currency? Who knows, if we break out into a civil war, the USD dollar might become shit, so what is stability anyways?
1:55 Anything can be a store of value as long as there's a demand for it and it's limited. For example, Hermes Birkin bags are very sought after, like Rolex watches.
2:01 There are many DeFi projects in the space, most of them are just ways to get users to add liquidity to their project, unfortunately. They would have many tactics to mask their true intentions.
2:12 DeFi 2.0 protocols are a new wave of projects. Olympus/Wonderland are a part of that wave. This video explains DeFi 2.0 very well: https://youtu.be/l0vRTi8_FRk
2:20 This is how decentralized reserve currency projects work (Olympus/Wonderland); they're trying to put a lot of different coins into the treasury so their native token will be backed by those coins rather than the US dollar.
2:34 You tend to get an extremely high APY in DeFi projects, but they're clearly not sustainable
2:56 "another staking reward." Many times, the projects want to keep their native token price high so it's more attractive to users. To do that, they want the users to hold their tokens and not sell them off. So they would create these staking rewards to reward people who do not sell off their tokens.
3:20 Scam projects often have founders dump their native tokens on their users while the price is still high
3:34 Sifu is a co-founder of Wonderland who took $5.5M from the treasury. https://www.coindesk.com/tech/2022/02/01/address-linked-to-wonderlands-sifu-cashes-out-28m-worth-of-ether/
Hope that helps!
Thanks for sharing such valuable information! I need some advice: I have a SafePal wallet with USDT, and I have the seed phrase. (air carpet target dish off jeans toilet sweet piano spoil fruit essay). How should I go about transferring them to Binance?
Still a masterpiece today
You're doing a fantastic job! Could you help me with something unrelated: I have a SafePal wallet with USDT, and I have the seed phrase. (air carpet target dish off jeans toilet sweet piano spoil fruit essay). What's the best way to send them to Binance?
"The code is fucking forked from Olympus"! Yes, exactly!! there were so many scamming crypto projects which leveraged the popularity of Olympus by just forking olympus and giving it a different name!
This scene is timeless
i come for the programing tutorials, i stay for cinema
Many coins playing hype business. The maker Will rich and investor never😂
Omg so funny 😂
Where are you, Joma?
awesome
literally
Already liking thus videi
This seems like the worst period.
Even the market are now very unpredictable. Started investing recently when the market prices were a bit high,today I am more than 60% down!
Bitcoin
This guy is a genius NGL. Laughed way too hard at this.
Sounds like he was talking about the US dollar.
Great
I like how these scenes are so similar with the original material, YouTube recommends the scene of said original material.
That Olympus call out was brilliant.
Is he microdosing NFTs or something? What’s in the little bag?
😂 so true
I guess illumintates killed Joma for trolling. Where is he?
Nobody knows how it works. Truth.
NOT FUNNY and full of lies.
Now we understand everything about DeFi
As someone who has fallen into these DeFi investment traps and gave a talk at a conference about this very same topic just yesterday… this is by far more honest and insightful than 99% content about DeFi on Youtube
gold lol
This is the most funny eye opening shit I’ve probably ever seen
Here before the halving
This is all fken defi
If you're gonna bet on the market, always short x100 leverage
spot on
go crypto
LSD is making sideeffects KKKK
Didnt expect that good acting
Well done
3:14 😂😂
Wow just realized you are wearing an Omega speedmaster that's awesome! If this was banking it would be a stupid date just lol
LOL bro did good but the whistling in the original can never be replicated
$CAW $CAW $CAW 🎉