Supply and Demand of Ethereum v.2020

# 0x0001 Cambrian Explosion of Decentralized Finance

ETH, as the native Ethereum blockchain token, owned its greatest reputation after the flash-crash on March 12th, 2020. The fee market in that day rushes to 600Gwei due to the risk-exposure of ETH and BAT token position, which are saved in MakerDAO, to mint DAI tokens, which pumps DAI to 1.18USD and also boost Ethereum miners’ rewards. These rewards are mainly given to miners using graphic cards, and some to ASIC miners using InnoSilicon’s A10 series.

# 0x0010 Proof of Work, International Trading Services, Energy Industry and Semiconductor Industry

PoW coins like Bitcoin and Ethereum for Iranians are approaches to “store electricity virtually”. Since Mar 2020, in the physical world, A.K.A world with non-crypto finance just suffered an oil price crash, WTI index crashed from 45USD to 10USD. Our research made an assumption: POW crypto index stick to SOXX and WTI Index ( in some ratio ) and please do your own research in the past 5 years and 5 years in the future. OPEC countries like Iran mined their cryptos with old version BTC/ETH machines, but with very low electricity cost due to low oil cost.

# 0x0011 What’s Your Portfolio In Ethereum Ecosystems?

DeFi liquidity providers usually had a 50–2000% APY reward in the earliest farming stages, which also pumps graphic card mining to a 30–500% APY return. Most DeFi projects allowed LP farming so that other investors and arbitragers can easily trade between DeFi tokens. If seeking arbitraging opportunities only in a small closed-loop, these tokens will inevitably go to an end of “Heat death of the DeFi universe”. Thanks to projects like MANA, ENJ, BAT, STORJ, ANKR, and many other NFT, they developed their own business, provided virtual property, virtual arts, advertising services, cloud storage services, and node services to form their own ecosystems, earn tokens and burn, or earn fiat money and repurchase tokens.

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