Yield Farming Strategy: How To Defend Your Position using @nansen_ai Smart Alerts?
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2/ Once you are exposed to the pool, there are now multiple things that can affect your pnl
- Token price (If pool2)
- Smart contract exploits
- Reward token price
- Token price (If pool2)
- Smart contract exploits
- Reward token price
3/ We will focus this chapter on token price exposure. Both the token used to farm, and the reward token.
4/ Step 1: Under "Diligence", select "Top Depositor"
5/ Step 2: Input the contract address and token being deposited. In this example, I have selected $JOE staking pool on @traderjoe_xyz
6/ Step 3: Take note of all the Smart Money in on the staking pool.
7/ Step 4: Right click and select "Wallet Profiler"
8/ Step 5: Copy address of the wallet
9/ Step 6: Go to "Smart Alerts"
10/ Step 7: Input the criteria as per below
11/ Step 8: Paste in the wallet address you copied earlier. Set your min value. And select JOE as the token.
This will notify you of any transaction made by this wallet that is above $5,000 worth of JOE. So when they buy, receive or sell. You will get notified.
This will notify you of any transaction made by this wallet that is above $5,000 worth of JOE. So when they buy, receive or sell. You will get notified.
12/ In the advance guide at a later stage, we will go through how to use more advanced filtering techniques to reduce noise.
13/ Step 9: Do the same for all other wallets whom have deposited in this staking pool. All you have to do now is copy the address and input into address bar in Step 8
14/ Now, if a huge amount is being withdrawn by these major market participants, you will get notified on it.
15/ Step 10: Now I will go into "Token God Mode" and look at who the other major wallets holding $JOE
16/ Step 11: Go to "Notable Wallets" tab
17/ Step 12: Under "Top Balances", look for contracts/wallets that can affect price movement if they sell. Add them to the "Smart Alerts" we set up earlier
18/ Take away the concept instead of looking at the project specifically. I will use different examples in this guide and use the ones that has the clearest example for you to understand.
19/ This is Chapter 9 of the guide. For other chapters, check out -
20/ This is for educational purpose only and should not be viewed as financial advice. This process highlights how you can use on-chain analytics to find opportunities, more research still have to be done on contracts and project.
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