For the last 2.5 years the very existence of a token has resulted in a speculative premium for the project. If that flips to a discount I think we will finally start to see some token projects actually merge, setting up a ratio hard coded in a contract that burns the token.
M&A for token projects:
1. Core team agrees to join buyer
2. Gov vote goes out to token holders
3. If approved, contract containing $X in stables is deployed
4. Contract allows token swap to stables at buyout price
Is this how it might work?
This is great validation of the work the core contributors have put towards the often thankless task of writing tests and documentation. A culture that was established by @jjgonecrypto years ago and continues to this day.
1/7 Over the past two months, Synthetix has worked hard to achieve a 97% score, and is tied for the current top score with @LiquityProtocol ! As such, it is time to syntherely congratulate the protocol and underline what went into this groundbreaking effort.
Just left #permissionless, it was the first conference in a long time where I felt like it was actually too short. So many amazing people and such great content. Nice job @BanklessHQ curating the event.
Starting something new and want to do it in the most web3 ways possible.
Shill me the latest best tools, services or frameworks for starting and operating new projects the web3 way:
- what can we do with it/use it for
- note if it’s a future feature if not ready to use today
One of my closest friends released his first book today geni.us/DatingWithoutFear it addresses dating anxiety. It’s a really easy and compelling read. Anecdotally I’d say a lot of crypto people have social anxiety, this could be a great read if you’ve been looking for help.
One take away from the Aelin launch is that airdrops within the Synthetix ecosystem are super inefficient. If I were doing something like that again I’d propose distributing AELIN only to the treasury council and making everyone else buy it. FDV is $20m now 😅 it’s nonsense.
NFT Gated Deals are the future of fundraising.
Communities can airdrop NFTs (&
@poapxyz's) to early protocol users, giving them exclusive access to their Aelin funding round.
NFTs are now entry tickets to early-stage fundraising. Take a look at the upcoming UI 👇
In case you were wondering what the deathmatch that was our household looked like, somehow @KieranWarwick has decided rather than use @aelinprotocol that @illuviumio should create its own competitor. You cannot make this shit up.
Within the next few hours, Synthetix is releasing a new liquidation mechanism (SIP-148) that completely overhauls the former system.
This new mechanism will greatly strengthen the protocol and ensure the system is healthy.
If you're staking, read 👇
Ngl I’m a little concerned we are finally deploying SIP-148 sips.synthetix.io/sips/sip-1…. Like many other things we’ve done over the last four years (I’m looking at you stakingRewards.sol) this mechanism is likely to be leveraged for new more efficient ponzis.
Polychain LP call today
- Top positions: DOT, ICP, ETH, AVAX, BTC
- Telling portco founders to tighten belts
- OpenSea/FTX overvalued
- NEAR is doa
- Haven’t been hurt as bad as others (no leverage)
- Bullish on COIN
- Will be aggressive in bear
It’s easy in hindsight to say you should have shorted Luna, but plenty of people got liquidated trying to short it over the last 6 months. It could just as easily have dipped to $60 and then ripped up to $200.