Jul 102023

This is a sponsored post

When considering Bitcoin wallets, there are various options, each offering distinct features
and varying levels of security. Below, I present a selection of the finest and most reliable
Bitcoin wallets:

The Ledger Nano X is a hardware wallet renowned for its exceptional security measures. It
ensures the safety of your private keys by storing them offline, shielding them from
potential online vulnerabilities. Equipped with a secure chip, the Ledger Nano X provides a
user-friendly interface that simplifies the management of your Bitcoin holdings.

The Bitamp Bitcoin Wallet is a client-side, open-source wallet that is easy to use. It helps to
connect with the blockchain to instantly send and receive Bitcoin from anywhere, or any
device. Due to the non-custodial nature of the wallet, it is exceptionally secure. By
connecting directly to the Bitcoin blockchain, users can speed up the transaction process.
Users have multiple login options: seed, private key, and keystore file, which can be
downloaded once an account has been created. Regardless of the device you use, Bitamp
can be accessed via Windows, macOS, Chromebooks, Android, and iOS devices. 

The Trezor Model T stands as an outstanding hardware wallet, sharing similarities with the
Ledger Nano X, and is famed for its excellent safety protocols. This superior device functions
as a convenient touchscreen interface and helps an extensive range of cryptocurrencies,
consisting of Bitcoin. By utilizing a secure element, the Trezor Model T ensures that your
private keys remain included from potential threats, bolstering the general security of your
digital belongings.

Electrum is a widely acclaimed software wallet highly regarded for its robust security and
user-friendly interface. With Electrum, you can securely store your private keys locally, and
it provides additional features such as support for multi-signature transactions and the
option for two-factor authentication.

Exodus is a software program wallet famous for its visually attractive and intuitive interface.
It supports various cryptocurrencies, together with Bitcoin, and gives convenient capabilities
which include integrated change and portfolio tracking. With Exodus, you’ve got complete
access to your private keys, guaranteeing the highest level of privacy and security.

Mycelium is a versatile mobile wallet designed to cater to both Android and iOS users.
Renowned for its robust security measures, Mycelium offers advanced features such as an
HD (Hierarchical Deterministic) wallet structure, ensuring enhanced privacy and security for
your Bitcoin holdings. It seamlessly integrates with hardware wallets, allowing you to
manage your digital assets securely. Additionally, Mycelium supports local trading, enabling
you to engage in peer-to-peer transactions within your vicinity. To further bolster security,
Mycelium provides offline storage capabilities, safeguarding your funds against potential
online threats.

Coldcard Wallet is a specialized hardware wallet designed for advanced customers who
prioritize safety. It uses air-gapped technology and allows features like multi-signature
transactions and smooth backup and restore.

Trust Wallet Trust Wallet is a mobile wallet known for its security and user-friendly
interface. It supports multiple cryptocurrencies, including Bitcoin, and offers features like a
built-in decentralized exchange and Web3 browser for interacting with decentralized
applications (DApps).

It’s important to note that the security of a Bitcoin wallet also depends on how well you
protect your private keys and follow best security practices. It’s recommended to use
strong, unique passwords, enable two-factor authentication whenever possible, and keep
your wallet software and devices up to date with the latest security patches.

Feb 282023
Bitcoin ordinals via ordinalsbot review

This is an OrdinalsBot review. OrdinalsBot is an easy to use tool from the Satoshibles team to create ordinals on Bitcoin and send it to your own custodial Bitcoin address. The service works by simply taking a fee and minting an ordinal on your behalf, and then sending the ordinal to your address. Payment is through the lightning network on Bitcoin.

The service honors the traditions of Bitcoin like privacy and freedom to transact. There is no need to sign up or create an account to use OrdinalsBot. All you need to do is pay a lightning invoice and you’ll get the ordinal sent to your Bitcoin address.

Ordinals as NFTs on Bitcoin

For those living under a rock, ordinals are Bitcoin NFTs in a nutshell, but come with several important differences compared to NFTs on chains like Ethereum. The UTXO model of Bitcoin also makes it very unique – more like ‘inscribing satoshis’ than ‘holding NFTs’. You can read more about ordinals in the ordinal docs.

Ordinals are taking off a nascent emerging scene on Bitcoin, something the Bitcoin community (minus the toxic maxis) have been clamoring for. Ordinals has been a breath of fresh air in an otherwise stagnant ecosystem. Major NFT players like Yuga Labs (behind Bored Apes) have announced projects on Ordinals.

In terms of investor interest, the first big milestone was 10,000 ordinals which have been sold for 5-6 figure USD amounts. You dear reader have probably missed the boat on inscribing an ordinal that early. The next milestone would be 1,000,000. The million mark would be interesting. Unlike NFTs on Ethereum where every NFT project is on a unique contract, ordinals are literally numbered (hence ordinal) and everyone inscribes on the same sequence. Therefore, it is a good idea to start inscribing ordinals today and hold some as a collectible.

After all, Bitcoin is probably going to be the dominant censorship-resistant chain especially with Ethereum’s transition to proof of stake. Holding information on the Bitcoin blockchain has always been the gold standard and ordinals brings the fun of NFTs on to the grandfather-chain.

Finally, all inscriptions in ordinals are stored on the Bitcoin blockchain itself, so no dangling IPFS links to nowhere.

How to Create Ordinals

In general, if you want to create ordinals by yourself, you will need to run a Bitcoin node. You will need a wallet with Taproot enabled, so you can pay for the transaction fees to inscribe your ordinal. You will need to check with the list of wallets on Bitcoin wiki. You should also be very careful not to spend your Ordinal inscription as a satoshi, basically rendering it worthless.

If you want to avoid the technical burden involved with the above, the simplest way is to use the Ordinals Bot built by the team from Satoshibles. All you need to do to use this bot is to pay a lightning invoice, which you can do with Bitcoin lightning wallets or traditional wallets as well. Lightning will make it cheaper. Make sure to send your ordinal to a BTC wallet that you control, and ideally a wallet built for Ordinals. That way, you won’t accidentally ‘spend’ your ordinal as a satoshi and lose it.

Here are the steps to create an ordinal on Bitcoin (Bitcoin NFT)

Step-1: Go to OrdinalsBot and upload your Ordinal (text, images, videos, etc.) Note that all data is stored on the Bitcoin blockchain, so the larger the file, the more fees you’ll need to pay.

Step-2: Send some Bitcoin into a lightning wallet like Muun which can pay via both lightning and regular Bitcoin.

Step-3: Get an ordinals supported wallet like Ordinals Wallet to keep your inscriptions safe.

Step-4: On OrdinalsBot, pay for the transaction via lightning (cheaper) or regular Bitcoin transaction. Make sure to add your ordinals wallet as the recipient.

Step-5: OrdinalsBot will inscribe your content on Bitcoin and send you the ordinal inscription in the address you provided. Make sure the address is right since this action cannot be reversed.

Congratulations, you have now inscribed ordinals and created Bitcoin NFTs! Do this before the numbers reach a million.

Feb 202023

Latest News: Public sale is currently live at Camelot Launchpad. Sale ends 24-Feb-2023 1800 UTC. Update – this has ended now, although Camelot continues to have other sales on their launchpad.

What is Factor DAO?

Factor DAO is a core piece of the DeFi puzzle that has been gaining momentum on Arbitrum, an L2 built on Ethereum that is emerging as a core hub of decentralized finance (DeFi) in crypto. In a nutshell, Factor is an on-chain asset management platform. The way it is built and the features it supports are much more advanced that previous versions of ‘on-chain asset management’ (think projects like Melon during the 2017 ICO boom with the same goal). I’d classify Factor and some other DeFi projects in this category in the “DeFi 2023” category (DeFi 2.0 was such a marketing gimmick).

Arbitrum DeFi

Before jumping into the token, a quick description of DeFi on Arbitrum. During the 2022 bear market when several blue-chip tokens crashed over 90-95% and majors were down 80+% from all-time high (ATH), one sub-culture of builders kept building in DeFi. That was all on Arbitrum. This group gave us gems like GMX, a protocol doing one of the highest fees in the entire crypto ecosystem currently.

Factor DAO Protocol

Factor DAO provides tools for any asset manager, trader, and other protocols to build on top of it in a seamless manner. The core of the protocol is “Tokenized Baskets” but yield pools play a big supporting role and finally the derivatives market that can interact with them is potentially huge. All these play into each other.

The core of the protocol is “Tokenized Baskets”. These are defined in ERC-4626. It presents a standard for yield-bearing vaults that make it interoperable across the entire DeFi stack. It is a powerful standardization in the DeFi system, similar to what ERC-20 did for fungible tokens. An asset manager can define their own fees and multiple strategies from active to passive. These can then easily be integrated into the rest of the DeFi ecosystem including automated market makers (AMMs) like Uniswap.

Yield pools help create lending pools on the blockchain, compatible with existing yield-bearing assets (think a-tokens from AAVE). Then there is a whole suite of derivatives built on top of these tokens and vaults – fully customizable options and futures contracts, perpetual futures, etc. There is something there for asset managers, traders, and degens alike.

There are a lot more nuances to the Factor protocol. You can dive deeper in the Factor Docs.

What is FCTR Token?

The FCTR token is the native protocol token of Factor DAO. It has similar tokenomics as Curve, i.e. the “ve” flywheel. For those unfamiliar, you lock up your FCTR tokens to get veFCTR tokens. These are not tradable. However, these give you a % of the protocol revenue and is used to make protocol governance decisions. The longer your lock-up period, the more ve tokens you get.

The maximum supply is 100MM FCTR tokens, with the team allocation of 15%. The public sale will have 10% of the tokens sold to the general public via Camelot DEX. There is a 50% treasury reserve, with the rest essentially for ecosystem incentives. Team vests their token linearly over 3.5 years.

At launch, 12.5% or 12.5MM FCTR tokens will be out in the wild.

How to Buy FCTR Token?

The best way to buy FCTR token currently is via Camelot DEX’s Launchpad. This is the public sale round for 10% of the tokens. The price will start at 0.1 USDC i.e. a $1MM minimum raise. However, we don’t expect this price to last during the sale event and the final price will likely be much higher. Make sure to do your due diligence on the token, protocol, and sale mechanics before you put any money in the primary public sale.

If you do decide to go down this route, follow these steps:

Step-1: Go to Camelot Launchpad for Factor.

Step-2: Connect your MetaMask to Arbitrum. If you don’t have Arbitrum network on your MetaMask, add it from Chainlist.

Step-3: Transfer ETH or USDC to Arbitrum. You can use the official Arbitrum bridge or multichain protocols like Hop or Multichain.

Step-4: On the day of the sale, make sure you have USDC on Arbitrum in your wallet. Use Kyber as an aggregator for best pricing or go directly to Uniswap (usually the best price, but there are a lot of other DEXes on Arbitrum that might be cheaper).

Step-5: Make sure you get your strategy of when to enter the sale figured out. Sale runs from 20 February 2023 at 18:00 UTC to 24 February 2023 at 18:00 UTC. Everyone will pay the same price at the end. The starting price of 0.1 USDC might not hold (unlikely in our opinion).

After the primary public sale ends, FCTR will trade on the secondary markets. We will update the post with those markets.

Here are the socials of Factor DAO if you want to stay in the loop on updates: Twitter, Telegram, Discord

Update-1: With 2 days remaining, the price of FCTR token has risen to over $0.5 per token, or a fully-diluted valuation of $52MM. However, the circulating marketcap would be around $17MM. There are still 2+ days left.

Dec 032022

Bitcoin is a decentralized digital currency that is based on blockchain technology. It allows for secure and transparent transactions without the need for intermediaries, such as banks or governments. This unique characteristic of Bitcoin has led many people to view it as a tool for enabling sovereign individuals, or individuals who have the freedom and power to make their own decisions and shape their own lives.

If you have already read the book The Sovereign Individual, you absolutely should. It provides a view of the world not commonly held among the ‘professional-managerial’ class.

Bitcoin, Digital Economy, and the Sovereign Individual

One way that Bitcoin enables a sovereign individual is by providing access to a global, digital economy. With Bitcoin, individuals can easily and securely send and receive money from anywhere in the world, without the need for traditional financial institutions. This allows individuals to bypass traditional gatekeepers and participate in the global economy on their own terms.

Another way that Bitcoin enables a sovereign individual is by providing financial privacy and security. Traditional financial systems often rely on central authorities, such as banks or governments, to manage and regulate transactions. This can lead to the loss of privacy and security, as these central authorities have the power to monitor, control, and censor transactions. Bitcoin, on the other hand, is decentralized and allows individuals to control their own transactions, without the need for intermediaries. This gives individuals the power to protect their financial privacy and security, and to make their own decisions about how and where to spend their money.

Alternatives to Central Bank Currencies

Furthermore, Bitcoin enables a sovereign individual by providing an alternative to traditional currencies, which are often subject to inflation and other economic challenges. Traditional currencies are typically backed by governments or central banks, which have the power to manipulate the supply and value of money. This can lead to inflation, devaluation, and other economic challenges, which can erode the value of people’s savings and purchasing power. Bitcoin, on the other hand, is not subject to these challenges, and its supply is limited and transparent. This allows individuals to protect the value of their money and make long-term financial plans without worrying about inflation or other economic challenges.

In conclusion, Bitcoin enables a sovereign individual by providing access to a global, digital economy, financial privacy and security, and an alternative to traditional currencies. It is a powerful tool that gives individuals the freedom and power to make their own decisions and shape their own lives.

Apr 012022

This is a sponsored post

The world of online casinos is constantly evolving, and the popularity of Bitcoin as a payment method has brought about a new wave of crypto casinos. These crypto or Bitcoin casinos offer many advantages, such as fast and secure transactions, anonymity, and transparency. If you’re looking to try your luck at an online casino that accepts Bitcoin, here are the top 7 casino brands that you should consider.


BitStarz is a highly reputable Bitcoin casino that has been around since 2014. It is licensed by the Curacao Gaming Control Board and offers a wide range of games, including slots, table games, and live dealer games. The casino accepts multiple cryptocurrencies, including Bitcoin, Bitcoin Cash, Ethereum, and Litecoin. BitStarz is known for its excellent customer service, fast payouts, and generous bonuses.


FortuneJack is another popular Bitcoin casino that has been in operation since 2014. It is licensed by the Curacao Gaming Control Board and offers a vast selection of games, including slots, table games, and live dealer games. The casino accepts multiple cryptocurrencies, including Bitcoin, Bitcoin Cash, Litecoin, and Dogecoin. FortuneJack is known for its excellent customer service and fast payouts.


7BitCasino is a well-established Bitcoin casino that has been around since 2014. It is licensed by the Curacao Gaming Control Board and offers a wide variety of games, including slots, table games, and live dealer games. The casino accepts multiple cryptocurrencies, including Bitcoin, Ethereum, and Litecoin. 7BitCasino is known for its excellent customer service and generous bonuses. is a popular Bitcoin casino that has been in operation since 2014. It is licensed by the Curacao Gaming Control Board and offers a wide range of games, including slots, table games, and live dealer games. The casino accepts multiple cryptocurrencies, including Bitcoin, Ethereum, and Litecoin. is known for its fast payouts and excellent customer service.

mBit Casino

mBit Casino is a popular Bitcoin casino that has been around since 2014. It is licensed by the Curacao Gaming Control Board and offers a wide variety of games, including slots, table games, and live dealer games. The casino accepts multiple cryptocurrencies, including Bitcoin, Ethereum, and Litecoin. mBit Casino is known for its fast payouts, excellent customer service, and generous bonuses.


CryptoWild is a newer Bitcoin casino that was launched in 2017. It is licensed by the Curacao Gaming Control Board and offers a wide range of games, including slots, table games, and live dealer games. The casino accepts multiple cryptocurrencies, including Bitcoin, Bitcoin Cash, Litecoin, and Ethereum. CryptoWild is known for its excellent customer service and generous bonuses.


Playamo is a popular Bitcoin casino that has been around since 2016. It is licensed by the Curacao Gaming Control Board and offers a wide variety of games, including slots, table games, and live dealer games. The casino accepts multiple cryptocurrencies, including Bitcoin, Ethereum, and Litecoin. Playamo is known for its excellent customer service, fast payouts, and generous bonuses.

The Top 7 Bitcoin Casinos: Its own unique features and offerings

In conclusion, the popularity of Bitcoin as a payment method has led to the emergence of many Bitcoin casinos that offer fast and secure transactions, anonymity, and transparency. The top 7 Bitcoin casinos listed above are highly reputable and offer a wide range of games, excellent customer service, and generous bonuses. If you’re looking for an online casino that accepts Bitcoin, these are the best bitcoin casinos that you can find online. Each one of them offers a wide range of games, a user-friendly interface, and excellent customer service. Whether you are a seasoned gambler or a newcomer, these casinos have something for everyone. Make sure to check out each one of them to find the perfect casino for you.

After reviewing the top 7 best Bitcoin casinos, it is clear that each casino has its own unique features and offerings. Some casinos offer a wide range of games, while others focus on specific types of games such as slots or live dealer games. Additionally, some casinos offer generous bitcoin casino bonuses and promotions (Source: Bitcoinist) while others focus more on providing a seamless and secure user experience.

Regardless of which Bitcoin casino you choose, it is important to ensure that the casino is reputable and trustworthy. Always do your research and read reviews from other players before depositing any funds. With the growing popularity of Bitcoin and cryptocurrency, it is likely that more and more online casinos will start to accept these payment methods in the future.

Jan 062022
ronin wallet ron token ethereum sidechain

This guide will help you buy RON token of Ronin sidechain. Ronin is an Ethereum scaling solution (Layer-2 on Ethereum) that has helped Axie Infinity grow from 1000 users to 2 million users in a year.

Tldr – RON is flying under the radar because it is not yet transferrable and there is no market price. But you can buy RON perpetuals on FTX. It has higher TVL and more users than all of Polygon/Matic, the most valuable Ethereum L2 today but is trading at a fraction of its price. If you are already farming RON and want to hedge, sell RON PERPs via FTX.

Update – RON token is now released! Read more about it on the announcement post.

What is Ronin Sidechain / Ethereum L2?

Sky Mavis, the developer behind Axie Infinity built Ronin as an Ethereum sidechain to help scale Axie Infinity, the most valuable NFT game in existence today. In fact, Axie Infinity has been so successful that its marketcap rivals some of the largest names in traditional game studio world.

The below comparison is from Messari.

The Axie team built Ronin because it was all too aware of how Ethereum’s scaling issues can kill a nascent game economy like Axie. Today, Ronin is one of the most successful scaling solutions on Ethereum.

Not many know this, but Ronin has the highest TVL locked into any Ethereum bridge to date at $6 billion. This is higher than some other better known scaling solutions like Matic (Polygon). You can run or modify this Dune Analytics query to see the results.

Ronin bridge TVL

The best thing for investors is that Ronin and RON token have gone under the radar so far because RON is not transferrable yet. Once it is released, you will see a lot more interest from crypto investors in owning a piece of the largest scaling solution on Ethereum today with both highest bridge TVL as well as highest number of unique wallets (over 100k+).

Therefore, if you think Ronin is undervalued based on usage and TVL metrics, you can buy RON token.

This graph from CryptoSlam showing blockchains by NFT sales volume should tell you everything you need to know about usage and volume. Sales volume is harder to fake than users (users are Sybil attacked with ease as creating new blockchain addresses is free). Ronin only trails Ethereum mainnet in terms of total traded volume, and is miles ahead of Polygon, the nearest Ethereum L2 competitor (ahead by over 10x).

Blockchains by NFT Sales volume. Ronin is second

What is RON Token?

RON is the native token of the Ronin sidechain. This is similar to how MATIC is the native token of the Polygon sidechain. In the future, all transaction fees on Ronin will be payable via RON, so RON is used as gas on Ronin.

The team will likely reserve some RON for yield farming and liquidity incentives purposes which can further increase the TVL on Ronin. Currently, 10% of RON is emitted for AXS/ETH and SLP/ETH LP stakers on the native DEX called Katana.

If you are bullish on the Ronin sidechain, then you should buy RON which is expected to become more valuable as usage of Ronin increases.

Future of Ronin and RON

Here is where this gets so much more interesting. Today, Axie Infinity is the only game on Ronin sidechain and all contracts are whitelisted and deployed only by the Sky Mavis team. They are taking a slow and steady approach. There is a native DEX Katana and the contracts to stake AXS and LP tokens like AXS/ETH and SLP/ETH. Then there are some claim contracts and that’s pretty much it.

However, as we have seen with all kinds of new blockchains or L2s, this is just the beginning. Once Ronin opens up to developers, there will be a whole host of DeFi applications and contracts built on top of Ronin.

The big advantage that Ronin has is in terms of installed wallets. Over 2 million people have downloaded and installed the Ronin wallet. This is very important because if you are just starting to build an NFT game, why would you not build on an ecosystem with millions of users and installed base already? Ronin can become the most used NFT gaming sidechain.

How to Buy Ronin’s RON Token

RON is currently released and listed on Ronin’s native Decentralized Exchange (DEX) Katana.

You can also farm for RON on Katana via AXS/ETH and SLP/ETH LP (liquidity provider) tokens and now also with RON/ETH LP tokens. From Feb 3 to Dec 31 2022, this the reward structure for farming RON on Katana:

  • AXS/ETH daily rewards: 24,169.18 RON
  • SLP/ETH daily rewards: 132,930.51 RON
  • RON/ETH daily rewards: 84,592.15 RON
May 052021
How to buy ICP token from Dfinity

This is a guide on how to buy ICP Token from Dfinity, dubbed the Internet Computer. After a wait of half a decade, Dfinity is releasing a public launch of its network and also its ICP token which powers the internet computer. The genesis launch took place on May 7th 2021. ICP is expected to start trading on May 10th 20211 at 10am PT. Therefore, you should be able to buy ICP tokens starting this date. ICP stands for Internet Computer Protocol.

Since I am getting a lot of questions on this, the only legitimate place to buy ICP right now (pre-launch) is FTX which supports ICP perpetual futures contract. This is the most liquid with best price discovery by far (not the IOU from MXC). Sign up and trade on FTX if you want exposure to ICP pre-launch. No KYC for up to 2000 USD withdraw per day. VPN friendly. Don’t buy MXC stuff. Otherwise, just wait for regular exchanges (see below)

But first, let’s dive deeper into Dfinity, its vision, and how to relates to the broader blockchain and crypto ecosystem.

What is Dfinity?

Dfinity has been building an “Internet Computer” since 2016-2017 and has raised several billion dollars from VCs like A16Z in the process. It has several unique features such as how nodes come to a consensus and how data is treated inside the network. We suggest doing some reading on their blog as the details are hard to summarize. If Dfinity can do 10% of all it promises, it could be a game-changer.

Dfinity hopes that popular apps like Facebook and TikTok will be recreated on a decentralized network and the Internet Computer is ready to handle any load. It is far easier for developers to manage since compute and storage are managed in a single place and scaled by the Internet Computer, which means the developers don’t need to manage things like databases, firewalls, load balancers, etc.

What is ICP Token?

The ICP token is the native token of Dfinity. You can stake the ICP token for governance and collect fees. This isn’t a gimmick like several other governance tokens. Besides, you’ll be rewarded the more the network is successful, which aligns the interests of token holders and network users and builders well.

Dfinity did an ICO or crowdsale in early 2017 where it raised around $4 million in crypto. According to an older blog post from Dominic Williams the founder and chief scientist at Dfinity, the crowdsale participants will collectively own 24.72% of the network at launch.

In addition, Dfinity did a broad community “airdrop” via CoinList in 2018. Those users get 1.25% of the entire network. Every participant here would have 119 ICP in their CoinList account. CoinList is well known to mess up big launches and we don’t expect the ICP launch to be any different. Therefore, expect some early troubles.

In addition to the crowdsale, Dfinity has raised several billion dollars from some of the most prominent venture capitalists in Silicon Valley, most notably A16Z. A16Z has led multiple successive rounds for Dfinity over the years, which proves their deep conviction in the project (in addition to providing a way to deploy their hundreds of millions of dollars in a single shot).

That in a nutshell is how ICP will be distributed prior to the launch.

What are ICP’s Tokenomics

ICP (previously DFN at crowdsale) is both a governance and utility token inside the Internet Computer ecosystem. Therefore, if you are a developer who wants to build on Dfinity’s Internet Computer, then you will buy some ICP and convert them into cycles. This is somewhat analogous to how gas works in Ethereum i.e. you need to pay for compute using the native token.

However, if you want an upside in network ownership instead, you will lock up your ICP into what is called “Network Nervous System” (previously blockchain nervous system) or NNP. This creates “neurons” that can then be used for network governance. Governance actions will earn voting rewards inside the network.

Therefore, there are two inflation sources:

  • Paying nodes for compute (data centers for example)
  • Paying governance participants

and there is one deflation sink:

  • Burning ICP when it is converted into cycles by app developers

Voting rewards are higher for higher lockups. There is a complicated governance system via NNS which we’ll cover in more detail in a later post. App developers will need to know how to buy ICP tokens to make sure their apps are functioning right. This creates a continuous demand for ICP token. Depending on the usage, ICP could end up deflationary which would be a first in the space (other than possibly Ethereum’s EIP 1559 being adopted and gas remaining high).

Node operators get ICP payments but denominated in “cash equivalent” units. This is understandable because node operators have fixed hardware costs determined in USD or local fiat equivalent, not in ICP. Voting rewards are denominated in ICP though since these are longer term stakeholders of the project.

ICP tokenomics

ICP inflation for governance starts at 10% of total supply and drops to 5% of total supply by Year-8. There is no information on inflation numbers for data center rewards yet.

How to Buy ICP Token from Dfinity

ICP has been released. The previous holders of DFN tokens via the seed round can access their ICP by following the instructions in this post. Airdrop recipients via CoinList will receive their ICP drop vested equally over 12 months.

Coinbase is listing ICP token at launch. This is probably the simplest way to buy ICP at launch. This of course was not the least bit surprising since A16Z is one of the largest investors in both Coinbase ($COIN) and Dfinity ($ICP). Note that after you sign up for Coinbase, you’ll need to log into Coinbase Pro in order to start trading ICP. It is expected that regular Coinbase users can buy ICP in the future, but the launch is on Coinbase Pro.

You can buy ICP futures on FTX which is the easiest and most liquid way to get leveraged exposure to ICP at launch. FTX’s perpetual futures are the simplest way to leverage up your ICP exposure. They are far more reliable for futures trading than Binance. You can leverage up to 100x, but please don’t do that unless you really know what you are doing. Keep it at a more modest 2-10x.

OKEx has announced it will list ICP token at launch (and also a $10MM fund to support the ICP ecosystem)

Kucoin will also be trading ICP at launch, with ICP/BTC and ICP/USDT pairs.

Binance is expected to list ICP soon after launch.

CoinList, which hosted the 1.25% community airdrop in 2018, is also expected to launch ICP trading. However, due to their poor ability to handle loads combined with poor liquidity and poor user experience and hard to complete KYC requirements, we suggest using other exchanges to trade ICP. If you are an airdrop participant though, you will need to go through CoinList to get your ICP. If you want to sell your ICP, it may be better to transfer it out to another exchange and then sell for BTC or USDT/USDC or another supported pair.

A bunch of smaller exchanges might list ICP after launch too. We’ll update the post over time to include them.

Warning: Be aware that ICP is not an ERC20 token and therefore does not exist on Ethereum. It is the native currency of the Internet Computer by Dfinity. Expect a bunch of scam ERC20s to launch on Uniswap. Don’t fall for them and stay safe out there.

Dfinity ICP Circulating Supply

The ICP circulating supply is a bit of a complex topic. This is because not all ICP is tradable in the markets. There is a lockup of ICPs in the form of neurons, and there is a “dissolve delay” before which ICP from these neurons can be obtained by a user in their wallet to sell on the markets. This mechanism is a bit different from other lock/stake protocols.

At genesis, the ICP token supply is expected to be 469,213,710 ICP i.e. about 469 million ICP. Circulating supply will depend on network conditions and economics, but is around 26% i.e. around 122 million ICP.

Not all of this is going to be liquid, however. The team has not been upfront about how many will be locked up in neurons and what the dissolve delay will be set at and whether the seed and institutional investors will get one neuron per entity or multiple. Therefore, there are a lot of questions about liquid and circulating ICP supply at launch that the team has failed to answer adequately. We’ll update this post when we get more details from the team about initial circulating supply numbers.

How to Earn ICP

The easiest way for everyday users to earn ICP is via voting rewards. If you run specialized data centers and willing to invest in dedicated hardware, that may be the better route to go. However, unlike other protocols like Filecoin, you cannot just contribute compute to Dfinity’s internet computer. Governance will need to approve every data center added to the network.

Therefore, for most users, voting (governance) is the way to earn ICP. Make sure to set the rules to delegate your votes so you don’t miss out on any rewards.

You can earn ICP by locking up your existing ICP into “neurons”. This is part of the “network nervous system” or NNS that forms the backbone of Dfinity’s internet computer.

In order to maximize your ICP returns, you should

  • Ensure that you are voting directly or in a delegated manner for every single vote.
  • Neurons lock up ICP. The more ICP you have locked up into your neuron, the more ICP your neuron will earn.
  • Dissolve Delay is like lockup. This can be set from 6 months to 8 years to earn governance rewards. If you set this to a maximum of 8 years, you get 2x the rewards compared to 6 months.
  • Age of neurons matter. Older neurons earn more ICP with a maximum of 25% bonus capped after 4 years.

Therefore, if you have a 4 year old neuron with 8 years dissolve delay, you will earn 2.5x more ICP than a neuron that was just created with a 6 month dissolve delay.

Dfinity makes it easier to compound. The network sends rewards to users in the form of new neurons. These neurons start with a dissolve delay of 1 day. You can therefore dissolve them immediately or simply increase the dissolve delay for your ‘child’ neurons. This is an easy way to compound your ICP to earn even more ICP but of course at the cost of reduced liquidity. Also note that neurons will not be tradable as trading them has security implications for the network.

Note: If you trigger to dissolve a neuron, when the delay is below 6 months, you will stop earning ICP tokens.

ICP Updates

If you want to watch the event live, register for the Dfinity mercury genesis launch event, including details on ICP token and when it unlocks. Event takes place 7pm CET / 10am PT on Friday, 7th of May 2021. ICP token will be released at 9am PT on Monday, 10th May 2021.

If you were a seed investor in Dfinity, here is a guide on how to access your ICP (warning: technically challenging. The team made it very hard for seed investors to access their neurons and ICP by not integrating with the app and instead using command line tools).

ICP and Dfinity Resources

The Dfinity blog is fairly comprehensive – we suggest giving it a read.

Some core posts are: details about ICP and its tokenomics and use for governance, technical overview of the internet computer, 20 year roadmap.