@UnlayeredPod Co-Host | Tokenomics Enjoyoor | Next Gen Blockchain Advocate | Ex @Blackstone
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Hang it in n the Louvre
This is a @MetaDAOProject bull post.
Time to fix this industry.
- Tensor labs equity holders made a lot of money
- $TNSR token holders rekt
- Tensor fnd likely going to announce something related to $TNSR
- But unlikely to benefit token holders as much as equity holders
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But am also a bit confused. But main point is his net inflation number doesn’t include unrefined ore. You can see column on right goes down loads but total supply column makes smaller reductions and occasional increases (since total supply does include the unrefined ore I think)
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Ore is at a $200m FDV and is deflationary while number 7 on revenue list in all of crypto.
You haven’t missed anything yet
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Exactly. It’s -ev to mine and sell. +ev to mine and hold as unrefined ore for a few months since apr is 145% vs 20% for staking refined ore
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$Ore is a better product than Btc
- miners will always remain incentivised
- offers staking
- doesn’t stop ppl from mining as it grows
- has a load of sinks to offset the faucet
- money spent by miners goes back into the ecosystem
- Sol fees mean can be used as money
Fight me
Yes. In my opinion, HHC is even greater than Satoshi Nakamoto. Because I didn't have the opportunity to buy BTC, while ORE gave me that opportunity.
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If my maths is correct - $Ore supply would deflate by 26% over the next year at the current betting volume
Surely I’m making a mistake? Even at $320 it is heavily undervalued…
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Plenty of recent hype around $ore while it’s trading at < 2x P/E multiple…
($100k a day = $36.5m buybacks pa vs fdv of $55m)
Price could 10x while revenues stay flat and it would STILL be reasonably valued
Higher
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It’s rare to see a new financial primitive emerge. When it does, pay attention.
@Polymarket prices the probability of events happening.
@lightconetrade prices their impact.
Imagine knowing how Trump’s first win would’ve moved BTC.
It’s a new primitive. Lean in…
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Think it was a big miss for @doublezero not launching on @MetaDAOProject
The backbone of the next-gen internet being governed by... Jump
is not a good look
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You only care because Sol makes more revenues than Eth. Am sure you were fine with the previous speculative manias on Eth. Just less fun when it happens elsewhere.
Faux moral outrage from Eth maxis is almost as bad as their decentralisation purity tests while pushing centralised L2s
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Your TVL maths ain’t mathing. You’re comparing all assets on L2s (cos they bridged so it all counts to TVL right…?) vs actual TVL per DeFiLlama which probs puts cumulative L2s and Solana at equal (so point to Solana since it’s all unified on a single chain)
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Underrated NFT that could 10x from here
Art still looks fire. One of Toly’s favourites. OG vibes…
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Really struggle to believe that Arb and Op top the inflows for YTD. Pretty sure it ‘should’ be Base and Solana
One reason that Arb is overstated is @artemis__xyz dont include Hyperliquid - who have received ~$800m of flows YTD - all from Arbitrum… So they’re recording money going to Arb but not coming out again.
Now why are Op flows so high…?
No. Adding some context (and data) changes the story regarding flows to Solana from other chains👇
Over the last month, @base is #1 in terms of net flows ($463m). @solana is #2 with $197m of net flows. @SuiNetwork #3 with $120m.
If we zoom out to Year-to-Date, @arbitrum ($2.4b), @optimsimFND ($2.2b), and base ($1.6b) lead all chains.
But the only thing that really matters for Solana is pulling TVL from Ethereum (and the L2s).
Why?
That's where all the value sits today.
Is it happening?
Not really.
Here's the data (via @artemis__xyz)
1. YTD, Solana has lost TVL to Base, OP, and Arbitrum (albeit small numbers, about $55m)
2. Solana has seen $2.36b inflows from Ethereum L1 YTD, with over $1b flowing back to ETH (42%).
*2.7% of Ethereum's TVL went to Solana YTD, modest figures*
3. Ethereum has seen $6b of net outflows YTD, but 83% of it went to L2s (stayed in the ecosystem, where it can continue to drive value to the L1).
In total, 82% of the value that left Ethereum YTD found its way back to the L1.
----
TL;DR: Solana is pulling some TVL from Ethereum, but it's quite modest. 42% of value that went to Solana from Ethereum made its way back to Ethereum this year.
Most of the value that leaves Ethereum makes its way back to the most secure and decentralized L1.
And most of the value that has left has gone to L2s (stayed in the ecosystem).
Data: powered by @artemis__xyz
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It does of course but 7% pa when it did 2000% last year just gets lost in the rounding.
What is much more likely to be having an effect on Sol price is the current fears around long term L1 value accrual. But charts like these will help keep them at bay for the foreseeable
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So @MustStopMurad is using data to back up his memecoin shills
But he makes no mention of the serious lack of liqudity.
Looking at Solana memecoins - which aren't listed on Tier 1 CEXs - and comparing MC to Liquidity - it would appear that $GIGA is the worst of the lot...
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Thinking more about @KaminoFinance's rise to popularity and the airdrop meta:
If teams actually dropped tokens right at their genesis (as we saw last cycle) then speculators could have bet on Kamino's superior UX and commitment to its users, even when its TVL was dwarfed by @marginfi
In mid Nov 2023, MarginFi reached $100m in TVL. At the same time Kamino was at $10m.
Instead of rewarding early Kamino users with drowned out airdrop farming where maybe they made a few G's - let them speculate on the 10x+ value differential that was on offer at the time
The same one that saw people buying Solana at $8 and 1/20th the market cap of Eth.
We wonder why this cycle has felt flatter with fewer opportunities than last time around...
Create evangelists. Not mercenaries.
Drop tokens. Not metas.
.@marginfi really dropped the ball by not launching their token quickly enough
Had a huge - at one time seemingly unassailable - lead. Now demoted to an also-ran…
Many such cases. Message to devs - don’t farm your users and pls drop your tokens…
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People are buying up $DRIFT rn following Multicoin's bullish thesis - but always worth looking at the fundamentals on dexes when they can be so easily compared across.
Drift is by far the most overpriced perps dex with a released token (excl Jupiter which also accrues value from network effects around the swap and other facilities)
I like Drift - but the only thing you have control over as an investor is judging your entries. And this one doesn't feel great to me...
0/ Excited to share Multicoin's thesis and valuation on $DRIFT, the native token of @DriftProtocol !
Link here - multicoin.capital/2024/09/10…
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Data propagation is the other variable.
So the fastest L2s have to use altDAs since Eth even post DS (and certainly today) offers much lower throughput
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3. Potential Massive Airdrop Coming??🎉
@Phantom to do a *full* Keynote (not just product update)
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2. MakerDAO about to announce they will be building on an SVM fork perhaps...?
Product Keynote from newly rebranded @SkyEcosystem
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Latest I could find doing a quick search from frictionless. So about half the number you’re quoting. But you’re right - it is several orders of magnitude larger than Eth even post danksharding (although eth ppl will say that 1.3MB isn’t the max)
@LoganJastremski probs best to ask for an updated view
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To learn more about the project - check out our podcast on @UnlayeredPod
youtu.be/7vn3Ealm0V4
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