If you’ve followed DeFi on Twitter for the past few months, you probably know the address with the prefix “0xb1”.
I tweeted a bit about the address. To recap: 0xb1 is the largest Ethereum address for income farming. In dozens of transactions per day, roughly $ 400 million net worth circulating in the DeFi division’s income farms and logs. (A fun fact is that the address spent over $ 150,000 worth of Ethereum on transaction fees.
What makes the address particularly interesting is that the address literally has a Twitter address whose name is the address. It verifies that the Twitter account is the same group that the address is running in.
By far one of the most interesting Ethereum addresses I’ve seen is @ 0x_b1.
It’s also an interesting social experiment – a $ 300 million whale opening up a Twitter account for fun. Check their bio.
Let’s break down the address and see what they do with their capital. ?
– Nick Chong (@ n2ckchong) January 3, 2021
0xb1 recently announced that they will be giving away some of their DeFi assets to increase the space.
The DeFi giveaway
On January 13, 0xb1, who describes himself as “the people of DeFi” announced that they will “remember the true year of #DeFi, the year of the ox, and the year of # 0x_b1”.
To commemorate the Year of DeFi, they explain, they will give part of their holdings to a number of protocols:
- Fifty percent of their BadgerDAO DIGG air drop, which is expected to be worth a few hundred thousand dollars, will go to developers of the BadgerDAO protocol. You will donate the funds to three specific developers.
- 500 YF Link (YFL) to LInkSwap, YF Link’s automated market maker, for further incentives to reduce liquidity.
- 5,000 Yaxis (YAX) for the project’s Metavault Strategies Hackathon to increase revenue for users.
- US $ 150,000 for a Commemorative NFT to celebrate the 0xb1 address and its involvement in a number of crypto asset projects.
Without people there is no DeFi.
We are masters of the people of #DeFi and we are announcing the opening of 2021 with a solemn series of games that commemorate the real year of #DeFi, the year of the ox and the year of # 0x_b1.
With best thanks,
Let the games begin!
– 0xB1AdceddB2941033a090dD166a462fe1c2029484 (@ 0x_b1) January 13, 2021
Many celebrated the collaboration with the thread, which garnered over 600 likes and retweets from innovators like Andre Cronje from Yearn.finance and Ameer Rosic, advisor to Badger DAO.
A productive animal
Aside from freebies, 0xb1 is a productive land animal.
More than 99% of their capital is active in income operations. For example, the address has $ 150 million worth of ETH and WBTC collateral on deposit that will be used to borrow stablecoins worth $ 80 million.
The address generates a return of $ 200,000 to $ 400,000 per day in the protocols it deposits in alone, which means that as an address, it is generating many tens of millions of dollars in returns every year.
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