🧵 VERY HIGH-RISK play that has my attention is @PrismaFi.

Reasoning: 
- Moebius Finance Acquisition
- Emissions Cuts
- Team/Investors Close to Full Vest
- Lending/Borrowing LSTs w/ ETH ETF Launch

I'm buying up $PRISMA on dips and farming triple-digit APRs.

Let's Discuss..  🧵

Disclaimer - This whole thread is very high-risk..

Let me go full 🐻 to start. 

I'll give the reasons I think $PRISMA is a high-risk investment that could easily go further south. If you are convinced that it's going to zero, I'll drop some ideas regarding how you can profit.

Reason #1 - Exploit Debt

If you weren't familiar, $PRISMA had a massive exploit that @zachxbt covers here. 3257 $ETH worth ~$11.1M which set the protocol back massively. 

Not many projects have come back from a hack that size. 

https://x.com/zachxbt/status/1780244613808160958

Since the April Exploit, over $1M has been returned to the victims.

The protocol has another ~$1.25M in assets across multiple wallets that are currently farming or being used for project runways. 

~$8M hole to be filled and protocol fees for June were $140k. Rough

Reason #2 - Terrible Communication 

The @PrismaFi team has been very quiet through normal communication avenues such as Discord / Twitter. 

This normally isn't a good sign after an exploit but governance & Prisma emissions voting have stayed active.

Reason #3 - Partnership Emissions 

Prisma has integrations with Yearn and Convex and these protocols are still active within Prisma. 

The emissions pushed toward PRISMA LPs in the form of $CRV, $CVX, and $YFI have dwindled post-exploit as the ROI has decreased. 

Reason #4 - Stablecoins Backing

$PRISMA as a whole has two stablecoins ($mkUSD/$ULTRA) that are backed by the debt of the lending/borrowing positions. 

A decentralized stable with a hole in its balance sheet becomes a massively risky position to hold, especially if TVL falls. 

If you now believe $PRISMA is going to zero, there are ways to profit from this trade as well. 

I'd only recommend playing these if you take the time to learn the underlying protocol mechanisms extremely well. 

There are ways to profit in bullish & bearish macro environments.

Every loan taken out on Prisma provided $ETH LST/LRTs as collateral and borrows either $mkUSD or $ULTRA against that position. 

Example: 
Lend LSTs > Borrow $mkUSD > swap $mkUSD for stablecoins > wait for implosion > repay the debt when $mkUSD collapses for pennies on the dollar. 

$mkUSD & $ULTRA are backed supported by Stability Pools.

Stability Pools are incentivized w/ $PRISMA and any liquidations that occur on the platform. These assets are in trouble if we go into a bullish market for $ETH, $PRISMA trends down, and there aren't any $ETH liquidations.

In a bearish market with cascading $ETH liquidations, these stability pools are an amazing spot to park funds. 

We've seen that assets like $ULTRA have gone upwards of 10% over their $1 value. 

This becomes an opportunity as these assets are in high demand during liquidations.

From a bearish perspective...

I've given you all the reasons $PRISMA could easily go to zero.

Time to talk through why this could make a comeback...

Now to cover all the reasons I'm getting very bullish on @PrismaFi. The top one is their acquisition of @MoebiusFinance, a multi-asset restaking platform. 

Moebius will mint its own LRTs starting with @Karak_Network and @eigenlayer. 

https://x.com/PrismaFi/status/1805571644754202908

They will launch with 4 new assets including $mokaLST, $mokaLRT, $mokaUSD, and $moETH. 

All of these are baskets of the underlying assets that will earn Karak points, Eigenlayer points, and Moebius Points 👀.

Moebius Points means they will have a net new token. 

These 4 new assets will likely have big benefits when using them for lending/borrowing on $PRISMA. 

The expansion of these assets means eigenlayer/karak points, minting/burning fees, and interests on any loans against them. 

APRs should be much higher than interest rates. 

Moebius earning Kayak/Eigen Points through fees should also give them the flexibility to add mkUSD & ULTRA to their platforms. 

Ideally, that would mean something like stmkUSD & stULTRA would launch. Added utility, more liquidity, and juiced yields for both stablecoins.

It was announced that @MoebiusFinance went to audit mid-June through a partnership with @bailsecurity.

Normal audits take about 2-8 weeks. I'm expecting results of this audit to drop any day at this point which should be a nice boost to the protocol. 

https://x.com/MoebiusFinance/status/1801633480985506082

PrismaDAO voted to approve the Moebius Finance acquisition exactly one month ago. 

The Proposal - "These options bring more revenue-generating opportunities for Prisma and the DAO in addition to Moevius token and token distribution will be at the discretion of the DAO" 👀

The latest update that we have seen from either team came from the @MoebiusFinance team in their discord. 

July 25th - " We are still working out some details..  and hope to announce something soon."

The vote passed governance so I'm not sure what is being "worked out".

The Prisma DAO will vote on Moebius Token distribution. 

The majority of vePRISMA is owned by @ConvexFinance & @yearnfi through their $cvxPRISMA & $yPRISMA lockers. 

They both have a large vested interest in distributing Moebius tokens to $PRISMA, $CVX, and $YFI lockers. 

Currently, the FDV of $PRISMA is < $9M. 

A new restaking platform that is largely owned by Convex & Yearn participants is worth more than $10M immediately. 

It just depends how Moebius tokens will be distributed, which will be voted on by the DAO. 

$PRISMA is backed by some of the biggest names in DeFi.

I was NOT part of this raise but my understanding it was at $.20 per $PRISMA ($60M FDV). We are currently trading at ~$.03 ($9M FDV) which is more than 2x lower than the seed round even once you account for exploit debt. 

I'd assume Moebius could easily raise for $20M-$40M val once connected with the Curve/Convex/Yearn/Prisma Ecosystems. 

Let's say 10% of tokens end up going toward $vePRISMA holders over time, that would be $2-4M in rewards. APRs for liquid wrappers would also skyrocket. 

76.8M PRISMA are locked into vePRISMA, most of these are permanently locked by Convex/Yearn.

76,800,000 x $.03 = $2.8M locked Prisma

If Moebius launches at $30M FDV and gives 10% of supply to $vePRISMA. that alone is $3M. It's be worth more than the USD value of locked $PRISMA. 

On top of potentially doubling your value through Moebius, you also earn protocol fees. 

Currently, $cvxPRISMA is paying out 102% APR which is mostly paid out in the Prisma stable $mkUSD.

Fees have slammed since the exploit but the protocol has still earned ~140k in monthly fees for June. 

The platform has over $5M+ in debt positions paying 10% Borrow IR meaning they have $500k of income from these positions.

The liquidation cascades earned $PRISMA ~$150k already this week.

Thats more than Prisma earned for the entire month of June in only two days. 📈

When looking at these lending/borrowing positions, lately the APRs have gotten crushed.

PRISMA APR is lower for some than the interest being paid in Borrow IR. 

I think that is because PRISMA is undervalued and should change assuming Moebius pushes fees & price.

APRs are deflated for lending/borrowing because $PRISMA / $ETH LP has been prioritized w/ $PRISMA rewards.

100k weekly $PRISMA rewards in the prior week skyrocketing to 330k+ $PRISMA  for native LP.

Liquidity jumped from $130k > $600k+ once changed. 

https://x.com/PrismaFi/status/1811790554247635098

The current voting period ends in about 24 hours and might be finished by the time I post this thread. 

PRISMA/ETH is getting the same share of emissions (27.4%) as last week which makes that $600k of liquidity much stickier. 

The actual amount of PRISMA rewards decreased...

The reason PRISMA/ETH ends up getting fewer rewards is there was a large emission cut on July 24th. 

Each week they they have taken the remaining supply, multiplied it by .9%, and used that figure. 

Cutting that multiple by .1% to .8% reduces weekly emissions by 15%+ weekly

A tool I've been using to track fee payouts and emissions: 
https://www.prisma.lol/?tab=emissions

Their structure is very abnormal so this has been the best source I've found to date. 

Another important emissions date is September 1st. 

All Early Supporters and Core Contributors will become fully vested. It's <4 weeks away and I think they will it with Moebius.

After that date, all emissions will be used strictly for protocol rewards. Bullish. 

August 5th > Septemeber 1st

Total Unlocks Remaining: 
Core Contributors - 1,800,000 PRISMA ($54,500)
Early Supporters - 3,940,000 PRISMA ($118,200)

The recent emissions cuts should also help offset this $160k left to unlock. 

If $PRISMA ever bounces, it's as vesting ends. 

If all 5.7M tokens still vesting were market dumped in a single candle, we'd draw down 50% to roughly $.02. 

It's an extreme example, I don't expect every token to be market-dumped into a single LP. 

There will be time to scale in as investors dump in the coming weeks.

Post-September 1st, everything is fully vested and all emissions go to protocol users.

Sept 1st 2024 - 177,160,000
Sept 1st 2025 - 215,480,000
Inflation Rate - ~18%

Inflation rate of <20% with the majority of those emissions ending up locked in Convex & Yearn... deflationary?r

IMO, if we haven't bottomed, we're very close. 

$cvxPRISMA - .9701
$yPRISMA - .9139

Liquid wrappers have spiked down 5-10% below 1:1 multiple times lately which can lead to great entries. Once again a large chunk of Moebius points will probably be pointed toward these.

Both these vaults are also paying nice APRs. 

cvxPRISMA - 102% in mkUSD, CVX, & PRISMA
yPRISMA - 148%+ in mkUSD or yPRISMA

The yield on these being paid largely in mkUSD makes a perfect hedge for any pullbacks. 

LPing these liquid wrappers will be the move if $PRISMA does eventually bottom and reverse price action. 

yPRISMA/PRISMA - 131% paid in PRISMA
cvxPRISMA/PRISMA - 132% paid in CRV, CVX, and PRISMA

Once Team/Investors are vested, it's hard to imagine these not crushing. 

$PRISMA has quite literally one of the ugliest charts I've ever seen between 30% to the team/insiders and a massive exploit. Down only. 

$.024 feels like a bottom at ~$7.5M FDV. 

< .05 should be a steal assuming Moebius is coming. 

Possible bullish divergence playing out as well. 

Charted against $ETH it looks stronger than USD pairings. 

Excuse the sloppy chart, threw this one together quickly. HTF looks to be showing strength against $ETH and is nearly at the same levels as 6 weeks ago. 

Triple-digit yields make this more attractive.

There are 44M PRISMA in circulation right now. 

14M+ of those PRISMA are in these 4 DEX liquidity pools. 

CEXs like HTX, MEXC, and CoinEx also have a decent chunk of supply in order book liquidity. It won't take much for there to be a squeeze on liquid PRISMA.

There is a long-term path to success and profitability. 

If Moebius rolls out smoothly, pulls a decent-sized TVL, and integrates the new assets into the Prismas platform there is a path to success.

Moebius points become in demand & skyrocket APRs w/ Karak & Eigenlayer.

Recent emissions cuts, Team/Investor sell pressure finalized, and APRs are still massive for farmers. 

I wouldn't be surprised to see PRISMA squeeze heavily after a few announcements drop. I'd guess sometime between now & mid-September.

Disclaimer - 

I've built positions in $PRISMA, $cvxPRISMA, $yPRISMA, and other LPs on @PrismaFi. 

There is a chance that these all go to zero and I've fully accepted that risk for my position. This thread is for my records and isn't financial advice. 

I'm just a Scientist... 👨🏼‍🔬

You can read the unrolled version of this thread here: https://typefully.com/SmallCapScience/YtKnJse

Investment Analysis: High-Risk, High Reward w/ PrismaFi

Don't sleep on @arbitrum Orbit Chains!

50+ Orbit L2/L3s are launching and @CamelotDEX has positioned itself to be the native DEX on nearly all of them. 

Camelot is also packed with other catalysts:
- Incoming Liquid Wrappers 
- Arb Incentives
- Gauge Voting

$GRAIL Deep Dive! 🧵

Arbitrum Orbit Chains - 

The Orbit Chains narrative has been heavily drowned out the past few months due to shiny new L2s launching nonstop. 

Here is a good thread from @0xpedro_eth on Orbit Chains.

https://x.com/0xpedro_eth/status/1791167090826576069

To oversimplify Orbit Chains...
1. Cheaper & Faster Transactions compared to L2s
2. Extremely Simple Deployment
3. Ability to Leverage Liquidity Across Chains

Fast & Cheap TXs are perfect for gaming protocols. 

Shared liquidity reduces fragmentation and grows DeFi protocols. 

@SirBootsOfIron rocked a knights helmet for his Brussels Presentation in case he got mugged

The Title - "Introducing the Orbital Liquidity Network"

Camelot is positioned to be the native DEX on every orbital chain. 

https://x.com/CamelotDEX/status/1811046339901370737

Orbit Chains have already begun exploding.

15+ Orbit Chains are already live on mainnet, Camelot is the native DEX for 4 of those new chains. 

There are 50+ Orbit Chains announced to be launching by the end of this year.

https://x.com/sgoldfed/status/1798716730635911650

Deployment of a new Orbit Chain only takes minutes. 

Project can choose their gas token,  deploy a rollup, and then integrate Camelot for network liquidity 

Camelot solves the challenge of building a DEX and finding liquidity for these new chains. 

https://x.com/conduitxyz/status/1768716335675248816

This comment still holds.

3 of the top 5 rollups by activity are Arbitrum Orbit Chains pushing 100+ TPS. 

The increased speed and decreased TX cost make Orbit Chains primed for an explosion of new apps. So far, gaming has led the adoption charge. 

https://x.com/allred_chase/status/1802712010724893073

Using @l2beat data, we can look back at the growth of TVL across L2s: 

July 2022 - $4.2B 
July 2023 - $12B
July 2024 - $38B

Similar to the explosive growth we've seen on L2s, I'd expect Orbit Chains to lead Arbitrums TVL & Transaction growth going forward. 

Camelot is now live on 4 Orbit Chains including @XAI_GAMES, @SankoGameCorp, @RariChain and @reya_xyz.

$XAI FDV - $330M
$DMT FDV - $64M

https://x.com/CamelotDEX/status/1808906486854127662

Here is a quick thread highlighting @SankoGameCorp for those interested.

Key Points:
- $40M Bridged
- Legit Projects Built On Top ( sanko.tv / sanko.pet )
- 20+ Memecoins
- No VC Unlocks

Sanko is just one of many Gaming L3s.

https://x.com/CipheResearch/status/1807796574317347076

$DMT is the first Orbit Chain that $xGRAIL stakers are earning weekly rewards from the fee income. 

Currently there is about $600k of Camelot liquidity on @SankoGameCorp doing $350k-$1.5M in volume per week.

Imagine 20+ chains fees rolling toward xGRAIL!

https://x.com/CamelotDEX/status/1798096662939742685

$xGRAIL stakers are earning $2.5k in weekly $DMT dividends already. 

$DMT is only $60M FDV..  if it does 10x or even 100x those fees will scale for $xGRAIL stakers. 

Not bullish on $DMT? That's fine, the other 3 Orbit Chains Camelot launched on are multiples larger than $DMT.

This new Camelot strategy turned $xGRAIL dividends into an index fund paying out Arb Orbit Chain gas tokens. 

By the end of the year, 100's of Orbit Chains will launch. If say 50% of those new rollups leverage @CamelotDEX as their main liquidity hub, $xGRAIL dividends skyrocket.

I'm personally very excited for the @XAI_GAMES. 

$XAI has 10+ games launching in the next 12 months, has eclipsed $1B FDV at times, and is backed by massive VCs.

$XAI ~$100M MC & $340M FDV

Camelot has been live on $XAI since April and it's the largest Arbitrum L3

One of the largest reasons to be bullish on @XAI_GAMES is they have $100M of $XAI incentives for protocols building on the L3. 

Arbitrum DAO also passed a proposal to allocate 200M ARB ($150M) towards the Arbitrum Gaming Sector. It is the single largest program the DAO funded. 

$300M of incentives flowing towards @arbitrum gaming and over $100M of that will be on chains where @CamelotDEX is the native DEX. 

These programs alone should bootstrap volumes for Camelot and push $xGRAIL dividends to do multiples of the current numbers. 

The $XAI token is managing to do $35M+ of volume daily on CEXs.

The on-chain volumes should increase as games start launching, $XAI incentives are rolled out, and liquidity grows deeper. 

An L3 like $XAI could end up having more volume than Arb Mainnet for @CamelotDEX someday.

Camelot is also live on Reya L2 which is a Liquidity Network that is optimized for trading.

Reya historically has been used for interoperable liquidity across perp dex platforms. Camelot became the first spot trading platform to integrate with Reya.

https://x.com/reya_xyz/status/1805575719377846340

Reya is a pretty impressive project backed by @hiFramework, @cbventures, @wintermute_t, and other top VCs. 

Camelot being the first spot DEX to integrate is a massive win. Longterm this has potential to reduce fractionalized liquidity across all of DeFi.

 https://x.com/reya_xyz/status/1809545701627429297

The 4th Orbit Chain that @CamelotDEX integrated with is @RariChain.

Similar to interoperable liquidity from Reya, @RariChain plans to push toward interoperable NFTs with creator fees built in at the blockchain level. 

A massive idea, this time with NFTs. 

https://x.com/CamelotDEX/status/1802803673417814133

Thats 4 brand new chains that are leveraging @CamelotDEX across Gaming, DeFi, and NFTs. 

These L3s are relatively new and haven't hit their growth curves yet. Realisitically any one of these orbit chains exploding in popularity could 2x $xGRAIL dividends. 

The best part is that the L3 space is exploding and more apps are leaning into @CamelotDEX as their native DEX. 

$WINR is a gambling protocol on Arb that will be launching their own L3.

It will become another revenue stream for $xGRAIL stakers. 

https://x.com/CamelotDEX/status/1800547756999864566


I'm also extremely bullish on their $GRAIL liquidity strategies and the effects that they will have once fully launched. 

Right now, @Campiexyz_io is the best example of that. They blackholed 1,829 $GRAIL into their $mGRAIL product which is now locked out of circulation forever.

One of the reasons I'm bullish $CMP is they are launching at $4M FDV. 

1,829 GRAIL x $725 per = $1.36M GRAIL Controlled by Campie

Roughly 21% of $CMP in circ on launch which would put $CMP at $840k marketcap. Undervalued even at these deflated prices. 

https://x.com/Campiexyz_io/status/1759449398109454601

They've launched using this model plenty of other times including for @Penpiexyz_io. 

$PNP ran from $.40 to well over $2 in a matter of weeks after launching. Since then, PNP sailed to highs of ~$7 and is still $2+ today. 

I'd expect $CMP to play out similarly if gauges are live. 

For @Campiexyz_io to function properly, they need @CamelotDEX to launch their new gauge framework. 

Gauges have been delayed slightly due to the recent focus on Orbit Chains from the Camelot Dev Team.

The gauges are needed to direct emissions toward $mGRAIL / $GRAIL LP. 

The $mGRAIL / $GRAIL LP is game-changing.

Camelot has $6M+ in PoL so they havent incentivized their GRAIL LPs forcing people to lock into xGRAIL while they printed trading fees. 

Launching a $GRAIL / $mGRAIL LP once $CMP goes live will suck up a massive amount of liquid supply. 

Campie can push emissions toward this LP with gauges, boost the APRs with the yield booster, and create a huge flywheel. 

Liquid GRAIL is already rare. ~55% of GRAIL emitted has been converted to xGRAIL and that doesn't include the fact that 4,000 GRAIL are PoL. 

LPs & $mGRAIL stakers will also start earning $CMP rewards which we already determined is undervalued.

The $mGRAIL / $GRAIL LP should lead to a massive supply crunch of liquid GRAIL. Ironically lack of liquid GRAIL is what made prices skyrocket when Camelot first launched. 

Until gauges go live, @Campiexyz_io launched their new Yield Boosted LPs.

These use the Camelot Yield Booster Plugin to maximize APRs for anyone depositing into these LPs. WETH-ARB, WETH-USDC, WBTC-ETH, and PENDLE-WETH are boosted to 2x rewards.

https://x.com/Campiexyz_io/status/1810165443174232360

On top of gauges being bullish for @Campiexyz_io, they also will become another revenue stream for $xGRAIL. 

Between gauges, liquid wrappers, and countless orbit chains mean brand new revenue streams are popping up weekly. $xGRAIL dividends will skyrocket soon IMO. 

Let's dive into other catalysts making me bullish on $GRAIL.

To start, $GRAIL is oversold on multiple HTF charts including 1d, 2d, and 3d while sweeping lows set during Fall of 2023.

We're also sitting on a demand zone (5d) at the $700 level.

Low Risk, High Return 🎯

Last week @CamelotDEX kicked off a program that will distribute 1.5M+ $ARB in the next 3 months.

The incentives are worth $1M+ and will be pushed toward multiple v3 liquidity pools. 

$1M is substantial when the MC of $GRAIL is $29M and FDV is ~$70M. 

https://x.com/CamelotDEX/status/1804964167461560744

The @CamelotDEX has held strong as one of the top DEXes on Arbitrum.

MC (GRAIL & xGRAIL) - $28.2M
Annualized Fees - $17.6M
FDV - $70M 

Fees have also been extremely consistent since May, even with Arbitrum taking a usage hit. Camelot has printed $300-750k in weekly fees.

"But SCS $ARB is Dead!" 

Arbitrum has two upgrades (BoLD & Stylus) set to hit production in the next few weeks. 

Stylus - Multi VM allowing C++ & Rust Integration
BoLD - Orbit Chains able to use any ERC20 for gas or network validation ($Arb Gas Token? 👀)

https://x.com/OffchainLabs/status/1785356033012990088

1. 50+ Brand New Orbit Chains
2. Liquid GRAIL Wrappers 
3. Oversold Charts
4. Massive Incentive Programs
5. Multiple Arbitrum Network Upgrades 

If you can't see the vision of what's coming, maybe this space isn't for you.

Camelot is about to be King again! 

Disclaimer - 

None of this is financial advice and is for my own records.

I own long-term positions in both $GRAIL and $ARB. 

My goal is to accumulate GRAIL in the $700-850 range heavily and I'm expecting this thesis to play out between now an Feb 2025. 

Disclaimer (cont.) - 

I know nothing about trading mainly because I'm a scientist, but I'm bad at that too. Feel free to fade me as my last few threads have been cursed  ☠️

You can read the unrolled version of this thread here: https://typefully.com/SmallCapScience/WVIWKTt

Camelot Scaling Arbitrum - Orbitals Liquidity Network

The @asymmetryfin team has me excited with $afETH.

It's an LST that is comprised of 70% ETH and 30% CVX.

The $vlCVX votes for $afETH LPs to bootstrap liquidity and also provides extra yield so $afETH staking earns 10%+

Experimental and Innovative.

https://asymmetry.finance/dapp/gemrush?referral=pJwH7jC

They managed to raise $3M from ANKR, Ecco, GMjP, Republic Capital and other sources.

The team is also doxxed with @Macro_Justin and @hannahjojo_ as co-founders.

https://www.coindesk.com/tech/2023/05/16/asymmetry-etf-for-liquid-staking-tokens-raises-3m-round-from-ecco-capital-ankr-and-others/amp/


Within a few hours, they already have nearly $600k staked into $afETH.

For those of you doing the math at home...
$600k x 30% = $180,000 of $CVX

Every deposit leads to $CVX not only being market-bought but also vote-locked for 16 weeks. Bullish $CVX 📈

This has the potential to steal market share due to paying double-digit yield which destroys the competition.

The yield is also very real and sustainable due to the underlying $vlCVX position being incentivized.

https://x.com/asymmetryfin/status/1755021510987932130?s=20

On top of the additional yield, the 30% $vlCVX also helps bootstrap liquidity on Curve & Convex.

These end up being their biggest differentiators...
1. Their liquidity layer is built directly into the product
2. Liquidity scales directly with growth/contraction

From an outdated whitepaper..

$ASF will likely be deflationary from the buyback + burns. $veASF receives 25% of revenue paid in $safETH distributions.

I'd assume 20% going to "Protocol Owned Liquidity" means they will redirect 20% of profits toward afETH bribes 👀

Flywheel...

Time to speculate a bit..

Lets say that $afETH becomes a top 5 LST and hits $1B in TVL..

$1B x 30% CVX = $300,000,000 in $CVX buy pressure

The current CVX market cap is only $400M and there is only $25M of onchain liquidity. CVX could easily go to $100+

If we use the same example we can speculaste on bribes...

$1B TVL x 10% Yield x  20% Perf Fee = $20M Earnings

$20M Earnings x 20% toward PoL bribes = $4,000,000 in bribes

$4M means ~$150k per round in bribes for $vlCVX holders.. last bribe round was $1.3M total... significant.

$CVX buy pressure on deposits and increased bribe income means $CVX should moon as Asymmetry grows.

@ConvexFinance APRs will skyrocket which gives CRV, PRISMA, and FXS users more reason to LP on Convex.

The CVX TVL and influence over these ecosystems will moon due to this...

I'm sold, now I need $ASF token exposure.

Their Gem Rush distributes $ASF

Deposit into $afETH, LP on Curve/Convex, and referrals are ways to earn tokens.

Worth noting that it looks like @hannahjojo_ has a tokenomics background giving me high hopes.

https://x.com/asymmetryfin/status/1755021538250895611?s=20

The protocol is in bootstrapping mode for the first week.

Based on the below tweet, the first 7 days are double gems for $afETH staking until yield kicks off on March 4th.

https://x.com/asymmetryfin/status/1757768834071892006?s=20

They also announced that @eigenlayer integration is happening and will go live next time the caps are raised.

Double Digit Yields on ETH x ASF Token Airdrop x Eigenlayer Points

Rewards are coming from all angles...

https://x.com/asymmetryfin/status/1755021529547743238?s=20

The most common question is "How do unlocks work?"

The 70% of the position that is backed by $ETH is liquid but the 30% of the position backed by $CVX has 16 weeks to unlock.

15% penalty to immediately exit the full position, wonder if these fees will go to $veASF?

Due to $CVX being 30% of your position, it pays to be early because afETH isn't 1:1 with $ETH.

If $CVX is bottomed vs. ETH, then $afETH price skyrockets while printing a 10%+ yield.

The downside price risk is also limited due to the higher yields and deeper exit liquidity.

The biggest issue I have with most LST/LRTs long-term is there isn't enough liquidity for users to exit if the validator queue gets backed up.

Imagine $ETH prices falling like Luna/FTX and users needing to wait 30+ days to exit. Yikes.

https://x.com/SmallCapScience/status/1754744595236241740?s=20

Staked $ETH will eventually have outflows and the LST/LRTs like @asymmetryfin with deep liquidity will be able to capitalize.

Liquid Wrappers are easy when capital is flowing in, but once liquidity dries up they get ugly.

Most LSTs have less than 1% of their TVL in liquidity...

Do I think LST/LRTs are going to zero? No.

Do I think in the future there will be a decent amount of them trading at a discount? Absolutely.

Think of assets like $GBTC, $ETHE, $stETH, and $wBTC who have caused countless issues when liquidity dried up. LSTs won't be different.

I think both @vectorreserve & @asymmetryfin have positioned themselves very well to take market share when there is an eventual shift toward deeper liquidity.

I'm happily earning stacks of their governance tokens now and will be patient as things shift in that direction.

If you enjoyed the post, I'd appreciate you using my referral.

They have a sick program:
1. Earn 16% worth of your friend's deposits in Gems.
2. When their friends deposit, you then get 8% of the Gems they earn

Thank you to anyone who uses the link ⬇️
https://asymmetry.finance/dapp/gemrush?referral=r6KPmJr


Disclaimer -

I deposited a stack of $ETH into $afETH and am also currently long $CVX.

Nothing posted here is financial advice and if you follow you'll probably get liquidated with me.

Godspeed.

You can read the unrolled version of this thread here: https://typefully.com/SmallCapScience/isKBbeT

Asymmetry Launches New CVX Backed LST - $afETH

Looking for @Blast_L2 or @ThrusterFi exposure?

$AURA is perfect to front-run this narrative:
- They announced a subDAO called @hyperlockfi coming to Blast that will blackhole Thruster.
- Balancer v3 is launching in Q2
- $AURA emissions recently were cut by 12%

Diving In... ⬇️

There is plenty of FOMO surrounding Blast lately.

It's easy to see why:
- Raised $20M from @paradigm / @standardcrypto
- Built by @PacmanBlur
- Airdrop for new users
- $1.8B+ TVL

https://x.com/Blast_L2/status/1726747087906464024?s=20

The $1.8B TVL of @Blast_L2 is impressive even if a decent amount of that capital is farming the airdrop.

If it were to launch today it would be rivaling the TVL of @solana.

The TVL is also already larger than @bitcoin, @0xPolygon, or @avax. Massive opportunity.

With every new chain/L2, the real money is made by picking the winner of DEX wars.

I made my bet on @ThrusterFi and angel invested. Plenty of other chads did as well and multiple of these guys are Top of the Blast Points Leaderboard. Comfy.

https://x.com/ThrusterFi/status/1747030967263355252?s=20

Thruster has already announced:
1.  @BananaGunBot integration
2. Leverage Long/Short all Thruster assets via @particle_trade
3. Custom launch tools from @BaselineMarkets
4. The home of Loomdarts $PUMP token - @realpumpitcoin

These aren't the integration I'm most excited about...

Here is where it gets exciting.

@AuraFinance announced their first franchise called @hyperlockfi which will blackhole Thrusters token. 👀

This means from day 1 Thruster will have a $CVX / $AURA style aggregator. Bullish.

https://x.com/AuraFinance/status/1758209178202702133?s=20

The proposal has $AURA making several commitments including a $200k loan to Hyperlock.

It comes with the expectation that some of the $HYPER token supply will be streamed to both $vlAURA holders and AuraDAO. It will also include profit-sharing models...

Way too easy 🚀

The members of $AURA gov questioned what percentage of supply @hyperlockfi would contribute.

12% of the supply was the response from @phijifry. It will be split amongst vlAURA, Aura DAO, and Aura/Hyper LP.

If they move forward with 12%, vlAURA holders will vote on distribution.

Looking into $vlAURA, there is only ~$20M locked.

If the 12% of @hyperlockfi supply figure is correct and voted to be split evenly across the three buckets, vlAURA holders would get 4% of the supply.

That 4% could be a large piece of @hyperlockfi circulating supply on launch.

The massive @Blast_L2 TVL means a ton of swap fees coming through @ThrusterFi.

Thruster value will be unlocked by @hyperlockfi similar to AURA/CVX wrappers.

$vlAURA is the best way to get early exposure to the ecosystem and I've added more to my locked $AURA positions.

Outside of Blast/Hyperlock, there are so many other reasons to be bullish on the eco.

@AuraFinance passed 12% reduction in overall token emissions this week. They will also be focusing on doubling the incentives for the $AURA - $ETH LP.

https://x.com/AuraFinance/status/1754689565775065468?s=20

The $vlAURA Hidden Hand Incentives have been consistently $400,000 per round since November.

$400k x 26 Epochs = $10,400,000 Per Year
$10.4M x Avg P/E (15) = $156M FDV

Max Supply is 100M making their current FDV $70M. Seems undervalued and this doesn't include $auraBAL income

New projected $AURA supply curve...

In the next year, 15,651,454 AURA will be emitted worth $10,956,017 at $.70 per $AURA.

Emissions are slowing down and there is a decent chance Hyperlock allocations will go to $vlAURA holders (speculation) which will be a big locking event.

We see all the constant $CRV FUD on the timeline but I've seen very few people talking about $BAL.

It trades at a fraction of @CurveFinance FDV. It also has less dilution, no founder loan FUD, and is leaning into LST/LRTs heavily.

Balancer has recently been leaning into Yield Bearing Assets even further as they release v3 soon.

One of the key concepts is they leveraging the yield-bearing assets in their vault as a revenue stream for the DEX.  (Yes, TVL amount is no longer a meme)

https://x.com/Balancer/status/1755593228223684912?s=20

Their new vault system makes it much more efficient to provide LST/LSR liquidity using @GyroStable concentrated liquidity for stablepools.

These innovations drive TVL growth and volume which end up passing fees onto $AURA through bribes.

https://x.com/GyroStable/status/1727366719097000060?s=20

$AURA owns about 54% of $veBAL and has over $393M of TVL today.

In their most recent article, $vlAURA P/E is undervalued compared to $CVX based on both P/E and holdings.

Projections - https://docs.google.com/spreadsheets/d/1VnA1ab5ootifqSAvlvyS04WBucEmj9G1K133-w3snLs/edit#gid=0T

As another incoming catalyst, @OpalDeFi will be launching Omnipools on top of @balancerlabs / @AuraFinance.

Ideally, this one should help grow the TVL of both projects when it launches in the next few weeks.

I'm cautiously optimistic on Opal.

https://x.com/SmallCapScience/status/1746183866925424649?s=20

I called @AuraFinance on launch week and scaled into my position when prices were lower than they are today.

I've taken $AURA profits but held a good portion of my position. With these catalysts, I'm starting to heavily rebuild my full $AURA position.

https://x.com/SmallCapScience/status/1540093151410475009?s=20

Disclaimer -

I hold a decent position in @AuraFinance and am an angel investor in @ThrusterFi.

None of this is financial advice and I'm wrong often so these could easily both go to zero. Do your own research if you plan to invest.

PurpleCoinGud 💜

Auras New SubDAO on Blast, Emissions Cuts, and Balancer v3!

$CNC v2 Update!

It's been two weeks since the @ConicFinance v2 launch..
- 700k CNC (12% of circ supply) has been locked
- $31M TVL
- $16+ of liquidity per locked $CNC which is 8x the current value while earning 20%+ APR paid in stables.

Diving in..

https://x.com/SmallCapScience/status/1752739554841526498?s=20

On v2 launch, 1.2M CNC were locked.

Today there is 1.93M CNC locked meaning 730k CNC have been locked worth around $1.45M.

$CNC emissions are 4,200 per day meaning the 730,000 CNC that have been locked are equivalent to 174 days of emissions. vlCNC is still earning 19% APR

Circulating supply is deflating and emissions are tiny compared to the TVL making it hard for projects to scale in.

Currently, the best way would be to market buy $CNC and the LP only has about 600k CNC for purchase.

Eventually, I think this squeezes as someone scales in.

The first round of LAVs launched yesterday for vlCNC voting.

1.9M locked CNC is voting on directing $31M of liquidity.

-$5.2M of crvUSD
-$7.2M of USDC
-$18.8M of ETH

That is $16+ of liquidity directed per CNC locked (8x value).

vlCNC also has 20% APR paid in stables


Looking at $ETH alone...

The 1.9M locked CNC is directing nearly $19M of liquidity... $10 of ETH liquidity for each $2 locked CNC.

These are also assuming that every vlCNC ends up voting, which they won't. At quorum, $19M ETH liquidity would be directed by 500k CNC worth $1M.

The TVL has also proven to be extremely sticky hovering between $30-35M since v2 launch.

As TVL rises, it becomes more attractive for projects to accumulate and lock into $vlCNC. $100M TVL would mean each locked $CNC is directing more than 25x it's value in liquidity.

LAM - Liquidity Allocation Modules

These were called out by the team in the v2 launch governance proposal and are one of the most overlooked pieces of v2.

It allows Omnipools to be allocated across multiple platforms. It specifically mentions Prisma & crvUSD peg keeping.

Yesterday @PrismaFi announced their new lending product backed by LRTs including EtherFI ($1.2B TVL).

Between $mkUSD / $ULTRA it makes sense for $PRISMA to start accumulating $vlCNC in order to have deep exit liquidity for their lending products.

https://x.com/PrismaFi/status/1757743997592945030?s=20

Prisma has been incentivizing liquidity for mkUSD on Bal/Aura to the tune of $10K+ biweekly.

It makes sense between $mkUSD and $ULTRA for them to start accumulating a Conic position although I've seen nothing concrete announced.

Speculation for now.

https://x.com/PrismaFi/status/1756993430989779377?s=20

Countless other LST/LRTs could also already be targeting @ConicFinance.

Prisma is just a specific example due to them already calling it out in governance snapshots.

The main value driver for $CNC / $vlCNC is directing liquidity so I'm watching the TVL closely.

TDLR
1. CNC circulating supply is massively deflationary with locks.
2. $30M+ TVL of liquidity
3. Projects need to buy to accumulate $vlCNC
4. Prisma launching $ULTRA which aligns well with Conics LAMs

This is a long-term play for a reason and it'll take time to materialize.

You can read the unrolled version of this thread here: https://typefully.com/SmallCapScience/uNNEbVJ

Conic v2 Launch Update

One of my highest conviction plays over the next 12-24 months is @ConicFinance!

The new v2 rollout has the potential to turn $CNC & $vlCNC into kingmakers of DeFi Liquidity.

Multiple of the largest protocols in the space are silently accumulating, it's time to pay attention ⬇️

Omni Pools are the future of efficient liquidity for stablecoins, LSTs, LRTs, and other stable liquidity pairings.

LST/LRT/Algostables are the largest bribers across most ecosystems.

Omni Pools are more predictable and efficient compared to the current gauge options.

Instead of renting liquidity w/ gauges to push emissions toward the LP of your choice, you direct a % of TVL staked as single-sided liquidity.

It guarantees liquidity unlike pushing emissions toward your choice of LP and liquidity is redirected toward your asset faster.

Example: If I'm @PrismaFi looking for $mkUSD liquidity for $150M of $mkUSD, currently I need to bribe protocols like BAL/AURA/CRV/CVX to push emissions toward a $mkUSD-$USDC LP.

Renting liquidity through emissions doesn't guarantee that TVL will flow into the LP.

With Omni Pools Similar to Conic Finance -

Users single-sided stake approved assets like USDC, USDT, ETH, and others then $vlCNC holders direct that liquidity toward their LPs.

To oversimplify, if Prisma owned 10% of $vlCNC they could direct 10% of USDC toward the mkUSD LP.


Now onto @ConicFinance.

It showed explosive growth in 2023. From $0 > $60M TVL in 24 hours during a bear market!

$CNC has one of the cleanest UIs in web-3, their multisig signers are all Curve OGs, and there was speculation Curve was behind it.

https://x.com/markjeffrey/status/1632548150417436672?s=20

$CNC price exploded from $2 > $12 in the coming months which was impressive during such a terrible 2023 market.

$CNC emissions are tiny and it has a healthy token distribution. Nearly 50% of tokens are in circulation.

All these were reasons the price soared.

$CNC price soaring caused APRs to skyrocket... TVL continued piling in.

$CNC reached $12+ and TVL reached $150M+ before an exploit occurred in July 2023 leaving Conic with $4.3M of bad debt. Not ideal.

Post Mortem - https://medium.com/@ConicFinance/post-mortem-eth-and-crvusd-omnipool-exploits-c9c7fa213a3d

At the time, $crvUSD supply was ~$100M and $77M was in Conic providing deep liquidity & utility (yield) for crvUSD.

The exploit dried up $crvUSD utility and liquidity overnight. To make matters worse for CRV, they were also exploited at the end of July.

https://x.com/megastuffs/status/1681966941639000065?s=20

The success of both $CNC and $crvUSD became closely aligned.

Post exploit the CRV Founder ( @newmichwill ) proved that by investing $1M into Conic Finance.

Conic was ~$17M FDV at the time, so we can assume he purchased roughly 6% of the total supply.

https://medium.com/@ConicFinance/conic-raises-1m-f88ad30460fd

Due to vlCNC not earning fees in v1, the major protocols were the only lockers. They had no competition for directing liquidity.

As an example...

April 11th $CNC was ~$7 meaning a single $vlCNC was directing 15x its value in liquidity.

https://x.com/ConicFinance/status/1645823217099997191?s=20

Conic is essential to the Curve Ecosystem and Michael is leaning into it to support crvUSD liquidity.

He is by far the biggest $vlCNC holder with 500k vlCNC that makes up about 5% of FDV and 41% of all locked vlCNC.

I consider that supply locked forever, he won't sell

The way Conic works is governance ($vlCNC) votes on whitelisting Omni Pool assets, users single stake to earn yield (CNC/CRV/CVX), and then vlCNC votes on redirecting the staked $125M TVL.

In this screenshot, only stablecoins are shown but $ETH & $ETH LSTs have pools as well.

$CNC reached $45M Circ MC and $120M FDV without most $vlCNC holders locking, earning fees, and barely any LST competition

Conic v2, $vlCNC holders will receive fees from bonding $crvUSD for locked $CNC.

$CNC holders are finally pushed to lock, they will earn $cncCRVUSD fees.

On top of $vlCNC bonding fees, they will also be boosting everyone $vlCNC who locks before the v2 migration (next few days?).

1. There will be a big circ supply shrink from locking
2. After v2 launch any net new buyers will be bonding

Circulating supply 📉
Rewards for vlCNC 📈

Unfortunately, the protocol does have debt.

(We will cover this in-depth later)

As part of the Reimbursement Plan, users who lost funds during the hack will receive a debt token. The token earns fees from Conic v2 for the first year (anyone can purchase these tokens).

The plan is that initially all fees will be routed to the debt pool and then over time transitioned to $vlCNC holders.

So as the debt is paid off, $vlCNC will catch momentum 👀

The platform fee is 10% of all CRV/CVX that is farmed from the omni pools... wow.

TVL before the exploit included...
$77M $crvUSD
$69M $USDC
$2.6M $DAI

Can't forget the $6.5M $WETH - The $WETH launch was brand new. With v2 coming LST/LRTs will compete for liquidity, this ETH position should easily go to $100M+. Which LST will dive in first...  👀

Looking at Curve, $crvUSD positions are averaging about 10-20% APR annualized.

$77M $crvUSD x 10% APR = $7.7M fee intake
$7.7M fee intake x 10% platform fee = $770k

That is only from the $crvUSD LP... $4.3M in debt goes away quickly if you are farming with $150M+ TVL.

v2 Launch is close so voting for LAVs and whitelisted pools is complete.

Looking at v2 Genesis crvUSD Weights...
USDT+crvUSD - 18.5% APR
USDC+crvUSD - 12.6% APR
FRAX+crvUSD - 4.86%

All of the APRs assume max boost (convex) and are annualized...

$150M x 10% Avg. APR x 10% Platform Fee = $1.5M Yr.

As the debt gets erased the $CNC setup is elite... $CNC has very light dilution, it's farming 9 figures w/ platform fees, earning bonding fees, and possible protocol bribes in the pipeline.

$vlCNC wars incoming.

The market is in a much different position than July 2023.

Conic as a stablecoin Omni Pool protocol is already proven, I'm more bullish on the LST/LRT opportunity. $ETH Omni Pools will be ready on launch.

If you look at the v2 ETH Weights, Frax and Lido have a head start 👀

$crvUSD has been a proven use case but the total $crvUSD circulating is ~$160M currently.

LST/LRT projects lean on liquidity for LST utility and for users to scale in/out in size.

The combined TVL of stETH / frxETH is $21.5B currently.. and LST market as a whole is $32.2B.

The LRT market on Eigenlayer has taken off as well with nearly $2B of TVL and liquidity is arguably even more important at that layer.

Every day a new project is popping up in the LST/LRT space, they all need deep liquidity to survive and Conic becomes the hub for ETH LSTs.

The USDC Weights also show FRAX/DAI/MIM receiving votes.

New stablecoin projects will come after launch.

Prisma Finance $mkUSD has over $130m TVL and already hosts liquidity on Convex/Curve, integrating makes too much sense.

Side note - $cvxCNC wouldn't surprise me 👀

Based on the v1 performance, use cases above, and the investors onboard I believe the below cases are fair assumptions.

Expected -  $500M TVL x 10% APR x 10% Platform = $5.0M Fees
Bull - $1B x 10% APR x 10% Platform = $10M Fees
High Bull - $2.5B x 10% APR x 10% Platform = $25M

Fully diluted there are only 10,000,00 $CNC tokens and the project sits at $12M Marketcap and $22M FDV.

Using FDV and a P/F Ratio of 15...
Expected  - $7.50 per $CNC
Bull - $15 per $CNC
High Bull - $37.50 per $CNC

Keep in mind, that these are conservative estimates...
1. They are calculated on FDV instead of circulating supply
2. They assume all CNC would be fee-earning when only vlCNC earns
3. It only accounts for the revenue stream from farming, not bonding or bribe income.

$CNC cruised to $12 last time omni pools were live.

Keep in mind...
1. There was zero incentive for your average user to lock
2. No Bonding Income for vlCNC
3. No Protocol Fees

Perfect setup for a giant wave of locks, circulating supply to shrink, and the price to send.

The other thing that is being discounted is the LST/LRT narratives.

v2 will launch with ETH and these protocols all are in a giant turf war for deep liquidity. I'm expecting a few of these protocols to catch wind and start to heavily accumulate vlCNC.

More locking...

crvUSD, Conic, Prisma, and Llamalend will revive the Curve Ecosystem.

I won't be surprised to see Conic become a $1B+ protocol and a kingmaker liquidity protocol.

Keep in mind people laughed when I called $CVX at $1.86 ($60MC) before it ran to $2B+...

https://x.com/SmallCapScience/status/1423693199596474370?s=20

Llamalend is a one-way lending market based on crvUSD.

The launch is only a few days away and timed perfectly with the Conic v2 relaunch. I don't think it's a coincidence that all of these projects are launching at the same time as the CRV unlock.

https://x.com/CurveFinance/status/1750572090942533790?s=20

We are also at a point on the HTF charts where both CRV/CVX are due for a bounce, I'm not the only Chad accumulating positions.

Conic success will be directly aligned to both these protocols and is a higher beta play on the Curve & Convex ecosystems.

https://x.com/CredibleCrypto/status/1751184134553170061?s=20

I think everyone should take a minute to appreciate their v2 announcement video, plenty of gold in here.

https://twitter.com/ConicFinance/status/1748334443792588835


Once v2 goes live and vlCNC rewards start, I'm expecting there to be tons of users to start to lock their CNC for vlCNC to earn rewards.

Due to low emissions, I can see CNC circulating supply going deflationary for a period...

$vlCNC has kingmaker potential, hope you enjoyed!

Disclaimer -

There is risk associated with Omni Pool protocols.

They are a newer branch of DeFi and have seen an increased exploit rate in the past 12 months due to the amount of TVL they host.

I'd encourage everyone to read their latest audit:
https://x.com/chain_security/status/1749407216686248161?s=20

Disclaimer -

I own and hold both $CNC and $vlCNC in my portfolio.

This post shouldn't be considered financial advice and is strictly for my record keeping and to entertain some llamas.

Omni Pools come with increased risk due to their large TVL and have a history of exploits.


You can read the unrolled version of this thread here: https://typefully.com/SmallCapScience/nSA7AZS

Conic Finance: The Future of DeFi Liquidity and Omni Pools

A new player entered the arena..

@OpalDeFi is a new Omni Pool protocol built on top of @balancerlabs and @AuraFinance ecosystems with an ongoing LBP!

$AURA is the king of LST liquidity which perfectly sets up deep omni pool liquidity. $GEM / $vlGEM can become kingmakers.

⬇️⬇️

Gem closed an early seed round last year, unfortunately I missed it.

Key players from @AuraFinance, @Balancer, @RamsesExchange, and  @Paladin_vote were part of the seed.

They also have some top tier angels onboard such as @Bluntz_Capital and @DeFi_Dad.

https://x.com/OpalDeFi/status/1730965075832238236?s=20

The team has onboarded some of the top LSTs @Rocket_Pool and @LidoFinance.... TVL 📈!

On $AURA alone, the top two $rETH pools have over $90M of TVL, even capturing 25% of those single LPs could send $GEM.

How does it work?

https://x.com/OpalDeFi/status/1736835209918660846?s=20


The @OpalDeFi fee structure takes a 9% fee on emissions of these massive LPs.

$90M x 7% yield = $6.3M Yield on $rETH annualized

$6.3M x 9% = $567k Protocol Earnings Yearly

Keep in mind, this is only the Rocketpool LPs... Add in Lido, Stablecoins, and other massive LSTs 😱

Tokenomics -

The ongoing public sale makes up 10% of supply and is currently at ~$2M Marketcap and $20M FDV. The FDV looks scarier than it is but emissions are spread out over 10 years.

Fees being used to build a governance moat should build a price floor from $AURA / $BAL

Flywheel -

Similar to veBAL and veAURA, to receive vlGEM you will lock $GEM into an 80/20 $GEM - $ETH LP.

This will ensure super-deep liquidity for $GEM and help offset some of the early emissions. Circ MC is ~$2M and on launch a large portion will be locked into liquidity..

Conic Finance which is an omni pool protocol built on Curve / Convex was able to amass $150M in TVL without turning on fees.

The Opal Flywheel is much more powerful than Conic before the exploit and their v2 model.

Here is more details on the flywheel:
https://x.com/OpalDeFi/status/1731690012364677363?s=20

The $GEM LBP is ongoing but it closes in a few hours.

If Opal goes as planned, I think LST protocols will start going to war over $GEM influence. 🤞🏻

I think the timeline will be buzzing about $GEM / $vlGEM in a few weeks once the full launch occurs.

https://app.v2.fjordfoundry.com/pools/0x1F272Ab2BDc512cb59e7b49485eFE16d2d7F9ffa

Disclaimer -

I invested roughly $30k into the LBP but like any prelaunch protocol, there are risks involved.

Please do your own research. This is not financial advice and is used solely for my record-keeping.

Find your own $GEMS... Don't ask me!

Balancer & Aura New Omni Pool Protocol

I'm giving away $5,000 over the next 5 days on @NewBitcoinCity.

- Best Features in SocialFi
- Free to Join + Follow Public Feed
- Giveaways - ~$10k Daily
- FriendTech Keys Give Access to NBC Circles
- Built on BTC L2 (Bridge from ETH)

Join: https://newbitcoincity.com?referral=hx09

Dive In! 🧵

Let's skip the technicals for now and get into what makes @NewBitcoinCity different.

FriendTech & Stars Arena integration is impressive. FriendTech Keys you own give you access to NBC private chats, so no need to rebuy.

They also have built-in bridges from both platforms...

NBC is an insanely feature-rich platform.

It allows you to interact in ways FT and SA don't, some standout features within the private chats include:

- Red Packets (Share Gifting/Giveaways)
- Jam (Voice Chats)
- Play (Games & Tournaments)

Want the meta? 👀

Red Packets -

These are game-changers!

How they work:
1. Select private chat or public feed giveaway
2. Pick value of the prize
3. Packet is posted
4. First User to "Snatch" wins prize

Simple right?

Here is where it gets interesting.

The prize isn't paid in USD or BTC, it's paid out in the keys of a user who owns your key.

This creates a meta. If you own the key of someone who does giveaways, your key will be purchased. It creates buy/sell volume, which generates fees.


Keys pay for themselves over time due to the volume giveaways generate, they are income-producing assets! 👀

It means accounts large accounts compete to do giveaways because it makes their keys more valuable.

FriendTech has 3,3... NBC has Red Packets

https://x.com/Anonymoux2311/status/1715153204038472151?s=20

These Red Packets create organic volume across NBC, which is huge for creators who earn trading fees.

NBC you set your own fees from 0-8%, having 8% fees and owning accounts that do giveaways is a cheat code. Earn 8% on the buy (giveaway) and 8% on the sell from the winner...

Customizable Bonding Curves -

One overlooked feature is you can customize your own bonding curve by choosing the # of keys needed to unlock your private chat.

If you choose, a fractional key will give an entry (.1-.5 key) to your chat which allows more users.

Big Accounts will adjust their entry price to chats as a way to create volume.

Example: Running a promotion for a week so anyone with .1 key gets access and can sample your chat.

People will enter for giveaways alone and then be forced to sell in 7 days or buy .9 keys more.