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What is going on? Welcome back to the underdog investor audio experience. It is Colin here and I had a great question in the community today from somebody that is just starting and it was great that they kind of prefaced. Hey, you know, I'm brand new to this. And I finally got my hot wallet set up. I've on ramped some capital into my centralized exchange. But my question is, which chain? What blockchain do I start on? And I thought it was a great question. So I wanted to have that conversation with you today. And I wanted to give you a few things to consider when deciding what blockchain you want to operate on. So what I did is I broke it down into the first one. The first thing to consider is what assets do you want to hold, right? Because all of the blockchains have a sort of a list of assets that are available for specific DeFi opportunities, right? And so that's, I think, something that I say almost every single day in the yg. And that is the underlying assets that we're investing in is the most important part of the entire equation. And so if you're deciding, Hey, which blockchains should I start on? I think we should start with the most important piece, which is the assets that you want to invest in. So that's number one. The second consideration that I think that you should think about when deciding which blockchain to operate on is what decentralized exchanges do you want to operate on? And I think that that also plays a role in the equation. Uniswap has a specific amount or number, I should say, of blockchains that that Uniswap operates on. Pancake swap is the same way. Aerodrome is another one, Sushi swap. There's plenty of other decentralized exchanges, but thinking about, Hey, which decks do you want to operate on also plays a role in which blockchains you should look at, right? And sort of in reverse as well, depending on the blockchain you want to operate on will also help you dictate which decentralized exchange or which I should kind of broaden that out a little bit to which DeFi platform you want to operate on. And so if you want to provide, if you want to lend on Ave, well, Ave has a specific set of blockchains that are available to use. And so again, you can do it in reverse. You could look at the blockchains and then decide which lending platform do I want to operate on in the, you know, on those blockchains. And so hopefully that makes sense. And then the third thing to think about is the gas fees, right? Gas fees are a form of, I like to call it business expenses that we incur as a liquidity provider or as a lender or a, you know, a DeFi enthusiast here. And it's really important to think about the income versus the expenses when it comes to running a DeFi operation. And gas fees are one of those business expenses that we have to take into consideration when we're operating on certain blockchains. So give an example. Ethereum Maynet is known to be one of the most expensive blockchains to operate on. And that's because there's a lot of traffic and the throughputs, not all that excellent, which just means to use one of my metaphors that it's a massive highway, but there are a lot, there's a lot of traffic on that highway. And so the fees that are going to that you're going to incur when you are operating on that blockchain are going to be high as compared to other chains like the layer two operations on that that help scale Ethereum like polygon or base or arbitrum or optimism, those gas fees are going to be cheaper than Maynet. So very similar because they're both EVM style blockchains and they operate with each other, the gas fees are going to be a little bit cheaper on those layer two's. And then you have other blockchains like the BMB chain or Avalanche or Sui or Osmosis or Solana, all of them are going to have pros and cons. But I think the gas fees are something that you should pay attention to. And so what I did for this member new IG was break it down by most expensive to least expensive. So this is not going to be totally accurate, but I believe it's going to be Maynet. It's going to be the BMB chain. It's going to be Avalanche are going to be usually the most expensive. And then you start to get into layer two's like arbitrum, optimism, Sui, those are all going to be right there in the mid tier. And then your cheapest block chains are going to be polygon, they're going to be base, they're going to be Osmosis, etc, etc. So now again, those three things, I think is what we should be taking into consideration as well as just, hey, how new or how long has this blockchain been around for? And so considering all those, all those variables, you can start to hone in on, hey, what do which blockchains do I want to operate on? For me, I like all of them, but me personally, I like to operate on Solana, Osmosis, and some EVM chains. I really like base right now, but arbitrum and optimism are two really, really solid options as well. So hopefully all that makes sense to you. Without, with that being said, jump back in the YG, ask your questions, dive deeper into the content, the educational content, and don't forget to take action. With that being said, I'll see you in the next episode. [BLANK_AUDIO]
