Liquidity Provider for Hire: DeFi Fundamentals
Learn how to maximize your gains with this repeatable tactic
Yo, gov!
The Club has moved to our own custom website: www.governorsclub.xyz.
Even though we've moved, our content and dedication to being the definitive source to upgrade your Algorand DeFi and NFT game remain unchanged!
We'll keep this substack accessible for a short period of time, but we encourage you to update your bookmarks and links to our new domain as soon as possible to continue your Algorand journey.
Thank you for your continued support, and we look forward to seeing you at the new and improved Club!
Gov Tip: If you’re new to Algorand, make sure to check out our Algorand Beginners Guide to begin your Algorand journey!
You’ve heard me say it before and you’ll hear me say it again: supporting new DEXs when their priority is to grow their TVL is an earning opportunity that you shouldn’t pass up. Especially in a young, growing ecosystem like Algorand where the amount of competition is low, the cost benefit is high, and you’re incentivized to participate through rewards.
And yet I see many pass on these opportunities time and time again because they have a “favorite” protocol.
This is an interesting concept to me because it’s so early in the Algorand DeFi lifecycle. Don’t forget, back in January of this year we didn’t have one working DEX because of the Tinyman hack. Back then, Yieldly was king and YLDY was going to make us all rich.
Doesn’t that seem like a lifetime ago, gov?
How much things can change in just a few months.
That’s why I recommend you don’t get caught up in favoritism this early on. Besides, if you don’t try a bunch of protocols how will you ever know which is truly your favorite? Without testing each one, you can’t decide which UIs, offerings, features, and overall experiences you enjoy the most.
And while you figure all that out, view yourself as a liquidity provider for hire.
In the following guide, I’ll explain what I mean by being a liquidity provider for hire and reveal which protocol I plan to “work” for next.
Let’s dive in.