FLIP - the token
This token has gotten its ass kicked during this bear market, as unlocks processed, cash was burned, and hype faded. But during that period the team was building.
The key is to reach escape velocity (sustainable profitability) before you run out of cash. Chainflip is finally achieving that, just after the token reached its nadir earlier this year. The market was worried that this project would never achieve sustainability.
But as the token collapsed to bankruptcy level prices, shit got built. Customers were acquired, market share was gained, and the product suite was expanded. And now it’s beginning to pay. We’re still priced for failure, but we are turning the corner to sustainable growth. This is when re-prices happen, and you can see it in the beginning of the reversal, with the >50% gain from the YTD low.
You can now own a deflationary token with ~10% staking yield in a profitable ecosystem, and watch the magic happen as the market realizes this is a growth story again.