ALGO Reddit Mentions | ChartExchange

My favorite ecosystem is Algorand. It is fast and simply works. I also believe it to be one of the most undervalued L1s this cycle.
You will need a wallet, I would suggest Pera Wallet. You will need to buy a bit of ALGO and deposit it into the wallet.
Then look for stake button in the bottom of the wallet interface. Clicking this will show you the options for staking your crypto. I use Tinyman and Folks Finance. Connecting inside the wallet rather than in a browser is safe and you will just click on “Connect Wallet” once inside any of the apps listed. Since you are connecting from inside the wallet itself, it will be seamless.
In Tinyman, go to stake tab and stake some ALGO to receive tALGO. tALGO will automatically accrue value so that when you unstake, you will receive more ALGO than you put in. Pretty straightforward and simple.
Folks Finance is basically the same in this regard but staking there gets you xALGO.
The difference between these platforms is when you want to go further and play with collateralized loans and liquidity pools.
Tinyman is where I play in the liquidity pools (or LP).
Here you can deposit ALGO and USDC, for example, and make approximately 20% return in TINY farm tokens and transaction fees. You access this area through the pools tab. Navigate to the pools you are interested in and follow the prompts to make deposits.
Imagine you put $100 on a table in silver and $100 in dollars then invited people to swap and pay a fee. If they need cash, drop some silver, if they want silver, drop some cash. Let’s also imagine that you do this at your local tavern and they appreciate your swap business by giving you beer tokens. In this case, TINY tokens. You can use these in their establishment, or cash them out. You could also put them in another LP and earn interest on them.
Generally, best to immediately cash out beer tokens, but they are useful when the tavern holds a vote about what beers to have on tap, for example.
One thing to be aware of is that LPs is that some assets will loose value against other assets. LP pools constantly adjust to balance this. This is done by giving you more cash and less silver if silver value goes up as a ratio. But it also works the opposite way as well where if silver value plummets, you will end up with more silver and less cash.
Impermanent loss comes when your value could have appreciated more if LP assets were held separately. If the value of Silver 100X, you will be sitting in a bunch of cash having “sold” your silver on the way up.
Knowing this, it is better to provide liquidity to pools of two assets you are happy to hold. The lowest risk is to stick to pools that have similar assets. Like tALGO/ALGO or xALGO/tALGO, for example.
I am in USDC/ALGO, tALGO/xALGO, and SILVER/ALGO.
That is enough to get your feet wet. The rest of it like collateralized loans would take much more to describe. It works just like you think it would. You deposit something of value that you don’t want to sell and either get some yield or you can borrow a different asset that might be more useful to you.

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Algorand / United States dollar
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