Quote:
Originally Posted by housenuts
Except number go up. I'm just going to continue apeing on spirit, spooky and froyo (weekly drop for veCRV ppl) until returns are less and/or swap is better.
ELI5 this? Got a link?
Quote:
Originally Posted by Pasghettos
A lot of activity on HEX recently. Where do y’all fall on the spectrum between “HEX is an incredible idea and is going to the moon” and “HEX is a ponzi, stay away.”
Pure ponzi, stay away
Quote:
Originally Posted by Go Get It
Internet Computer... da fuq?
Dfinity is so beyond cringe and the FDV is insane Filecoin levels. The distribution is virtually all controlled by:
1) team/foundation
2) Feb 2017 Seed investors
3) 2018 strategic round of funds
It is so much hype and IMO it's EOS 2.0. If the valuation was more sensible or there was significant yield farming, it might be interesting, but it's impossible to touch at these levels. A primary reason why the price is holding up rn is there was an issue where the 2017 seed investors cannot yet access their tokens from seed phrase. For reference, the price of ETH when they did that round was ~$11. I know someone who put <$2000 in, and it's worth $20m at price today. It vests monthly over 48 months and you can probably guess what he's going to do with it each month. I reckon nearly all investors are viewing this similarly. Not much else to say, it's like you take the Solana ecosystem which IMO is mostly uninvestable at these levels, and you make it 50x worse.
Even if yield farming develops there with ICP pairs, it's still hard to want to buy because the FDV is 1) really high 2) in the hands of OGs/sophisticated investors, so if there were good yields, they'd get soaked up quickly. Part of what made the BNB move so explosive is that its starting point was so low -- single digit billions. Once a significant ecosystem developed as BSC with all BNB pairs, the upward reflexivity was tremendous. Starting from a $180B base you do not get those same effects. Obviously we are in a state where dog coin copycat ponzis are flying and the float seems possibly low (until seed investors can access), so in the mean time anything can happen, but seems like an exeptionally poor buy if you had to buy and hold for a year+.
Quote:
Originally Posted by Zima421
what happened with ALCX price action tonight?
That's been a one way train for a while. It's simply what happens when a project has big name investors and a ton of hype with low initial float, and pay >80% of emission to current token holders (thru ALCX staking and ALCX/ETH LPing). May give you a glimpse into the future of the Solana ecosystem...
Quote:
Originally Posted by oneonth3run
It wins the internet? Pretty stacked roster of venture backers, is this truly novel or just sounds great to someone like me without the CS background to get it?
Twoshae--thoughts?
Sent from my Pixel 3a using Tapatalk
Read above. It's professor-coin / EOS 2.0 with a Filecoin-level valuation that makes no sense. Their reasonable competitors are Cardano/Polkadot/Solana -- the price... like 4-20x those. Interested to see the extent to which throwing money at problems can create an ecosystem there.
Quote:
Originally Posted by martenJ
You know you can have a cool defi project, but that doesn't make the token awesome.
Apart from 10% fee ALCX collects from every harvest I don't see much value in the token.
Yup, imo it's just middleware with a token. It's kind of cool, but it doesn't really have any competitive advantage and is primarily just relying on yearn vaults. Yearn could just build this directly.
Last edited by Two SHAE; 05-11-2021 at 03:50 PM.