Reading Bigeng｜Creation is valuable, eight valuable LikeCoin applications

Writing can be understood as "creativity mining". You pay for creativity, generate value, and obey the consensus mechanism of "Proof of Creativity" to obtain a token called LikeCoin.

This article tries to sort out various ways to manage LikeCoin. There are eight ways in total. Overlooking the overall situation, it can be used as a guide map for new users to get started.

■ Eight ways to manage LikeCoin

Without further ado, let’s start with the picture above, then follow the thinking process and introduce each “diamond” block in sequence.

At the beginning, everyone’s LikeCoin will be in the Liker Land app. You can choose:

• ① Simply hold (HODL)
  Do nothing but explain the origin of the allusion to "I AM HODLING". The misspelling is intentional.
  
  
• ②Entrustment and pledge (Stake)
  It can be done on-site at Liker Land (see LikeCoin interest earning, concepts and operation tutorials for details). But one thing you must know is that you have not obtained the " private key ", so $LIKE is in custody. Strictly speaking, you do not have control over it, and the handling fee is relatively expensive .
  
  If you want to solve the above problem, it is a good idea to withdraw $LIKE to a Keplr wallet where you have the "private key" (see Keplr wallet guide for details, everyone's tutorial on how to make a fortune ). You can also pledge $ here. LIKE, low cost.
  

There is no need to move all your belongings to the Keplr wallet, and leave some funds in Liker Land for:

• ③ Donate
  Click the yellow "Support the Author" button below the article and use $LIKE to encourage the creator . This article can be used as a practice object for everyone, so grab $LIKE   Smash me .
  
  
• ④ Market
  Use $LIKE to trade goods/services provided by other citizens , which can be found in #Matters Market , #LikeCoin Market ⋯⋯ and other tags.

The above four uses can be accomplished through Liker Land. Let me take a breath and show you the English version of the architecture diagram. Next, I will start from the "right branch" of the Keplr wallet.

The remaining four uses can be used consistently with " coin-to-coin exchange (Swap) ". The things you want to exchange for are different.

 Simplified wording ◍ Withdraw to (withdraw to), hereinafter referred to as transfer, transfer, transfer in ◍ Centralized Exchange (Centralized Exchange), hereinafter referred to as CEX
◍ Decentralized Exchange (Decentralized Exchange), hereinafter referred to as DEX

• ⑤ Flat Money
  Want to exchange it for "real money".
  
  Transfer $LIKE from Liker Land to a CEX that supports the " LIKE/USDT" trading pair. There are currently three CEXs that meet these conditions: DigiFinex/Liquid/ZB . Once converted into a stablecoin (Stablecoin), it will be stable ; then transfer CEX that supports "fiat currency withdrawal", from a Taiwanese perspective (fiat currency is New Taiwan Dollar), there are three ACE/BitoPro/MAX options to choose from.
  
  Since the trading volume of $LIKE on CEX is small and it is not easy to combine , we proposed another plan. First, exchange $LIKE into a mainstream currency with large trading volume. After that, send it to a larger CEX to sell it off.
  
  Now pull back the Keplr wallet mentioned before. It supports many decentralized finance connections , such as connecting to Osmosis DEX. You can easily exchange $LIKE for $UST without placing an order, and then transfer it to large-scale exchanges such as Binance. CEX, look for the "UST/USDT" trading pair, again, once you switch to stablecoin (Stablecoin), it will be stable.
  
  
• ⑥ Crypto-linked Cards
  I want to change it to "food and grass".
  
  As far as I know, the cards currently on the market that are linked to cryptocurrency are all based on the concept of " debit card " (please correct me if I am wrong), which means that you can convert the cryptocurrency you hold into legal currency - Stored value - to make payment deductions.
  
  Which card did you apply for? If we take the CRO card launched by Crypto.com as an example, I will convert $LIKE into $USDT and keep it in reserve to lock in exchange rate fluctuations . When there is a demand for card swiping, I will consume "food and grass" and turn it into a limit.
• ⑦ Swap and then Stake
  I want to change to a "new target".
  
  Whether you think the interest rate offered by pledging $LIKE is too low, or you are optimistic about other currencies in the long term, or you want to diversify your holdings to reduce risks, then don’t hold it! For example, exchange $LIKE for other virtual currencies on Osmosis DEX, and follow the trend (through the Keplr wallet) to complete the pledge and bet on new investment targets.
  
  Prioritize betting OSMO/ATOM fully, with 50/5 as the initial target, to seize airdrop opportunities.
  
  
  
  
  
• ⑧ Liquidity Mining (Farm)
  I want to change to "Liquidity Provider token (LP token)".
  
  For example, connect to Osmosis DEX, exchange $LIKE into two currencies at a 50/50 ratio, inject water into the pool behind a certain group of trading pairs, and obtain LP tokens in recognition of beneficial rights (proof of participating in the allocation of swap fees) ); taking it a step further and pledging it is called liquidity mining. In some places, the word "farming" is used instead of "mining", which has the same meaning.

■ Postscript: Collective Wisdom

Before writing the article, fortunately, I first threw the "architecture diagram" I planned to use in this article on Liker Social to ask everyone to help brainstorm and use the power of collective wisdom to optimize and enrich it to eight uses (I didn't expect so many originally). Special thanks to @ JohnShao doesn't hesitate to come up with ideas.

Finally, I would like to use the method of "association and metaphor" to take you to review this article and create eight valuable applications.

⚠️ For basic operation, just Liker Land
① Survive ② Fixed deposit ③ Sponsor ④ Exchange for "citizen's goods/services"
⚠️ Use Keplr Wallet for advanced operations
⑤ Exchange for “real money”
⑥ Change to "food and grass"
⑦ Change to "new target"
⑧ Exchange "voucher"

🌱 Reflections on special writing are being serialized👉 01 ｜ 02 ｜ 03 ｜

🌱 Regular irrigation to support continuous farming👇
https://liker.land/leo7283/civic will give you an extra subscription for the fireplace

🌱 Follow [ Zhongshu Nervous System ] broadcast information and never miss it👇
Good Quotes from Good Books/Book Market News/Mind Map/Drifting Books/Storytelling Club

🌱 I appear on other platforms 👇
【 Facbook ｜ Mastodon ｜ Medium ｜ vocus ｜ Potato 】