I write about crypto assuming you're a 5-year-old with a short attention span.
Joined May 2022
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I don’t often make calls, but when I do, I’m extremely certain about them.
This is the bottom. We’ll range for a while so the big boys can accumulate enough cheap coins.
Once they’re done, expect fireworks.
I’m pinning this to get clout in 2028 or so.
Good luck, gentlemen!
Let's use a simple analogy to explain this news:
Governments accept only their own currencies for paying taxes.
According to the Modern Monetary Theory this is the main reason why there is a demand for that currency - because eventually you must pay taxes in it.
You understand now?
JUST IN: Ethereum to let users pay transaction fees with stablecoins instead of $ETH in 2027.
robinhood chain has the first-mover advantage to become THE blockchain for tokenized stocks
and you won't believe how many funds would love to rebalance their stock holdings 24/7 in the span of seconds, with minimal fees, to 17 decimal places
insane numbers
10 years ago we had to install wallets for EACH coin.
5 years ago we had to manage onchain wallets to play with coins.
Now people will have complete access to coins from a legitimate web2 website.
Whatever you aim at, you probably aim too low.
Let's say tokenized stocks (in their current form) become the standard and most people are invested in them onchain. It's cool that it's easy to buy/sell and transfer them.
But what you are funny tokens that simply mimic the price of the stocks. They don't have any voting power, no dividends, no rights.
So if you invested your all life savings in some tokenized stock and the company you hold stocks of goes bust, then uhmmm yea broo srrryy......life is life......
The stock market overlords SEC won't protect you. But since our leit motif is no crying in cassino, who cares, so nvm, this argument probably doesn't matter.
But you also don't get dividends which are basically free moneys for holding shares. But it's only like ~5% so unless you invest with size (like a few millions?), it's not a big deal, I guess? So nvm, this argument is also invalid.
And the voting power. Tokenized stocks don't let you cast a vote when there are some governance issues going on in the company you hold tokens of. But DAOs showed that people don't care about it, and normies also rather invest via funds like Vanguard makes you not eligible for voting as well, sooo.. yea, another argument invalid.
Nvm, tokenized stocks are fine. Lfg.
i'll explain the robinhood vs amc drama:
adam aron is runs amc, a tv company.
vlad tenev is the ceo of robinhood.
adam started to dislike vlad back in 2021 when robinhood blocked buying amc shares during the meme craziness. people could only short it.
and robinhood did it because trading stocks is not the same as coin onchain. there is a middleman who needs like 2 days to make a trade actually take place. so the middlemen basically "lend" those stocks for robinhood-alike companies. but during that meme craziness the middleman said "nah bro, too risky, give me cash upfront coz i ain't risking holding it for 2 days."
robinhood didn't have that much money so they blocked buying stocks.
so this is the first reason why adam is not vlad's friend.
the second reason is robinhood had some lag and by mistake they had a banner saying that amc had filed bankruptcy. it was on for only 3 mins.
ok, but anyway, currently adam is being aagghahrhrhrh at vlad because robinhood is legally issuing tokens that are backed 1:1 by actual amc shares so people can freely trade the price. and only the price because the shares don't make you a shareholder or anything like that.
adam says that because of that robinhood is stealing potential buyers of their shares so they cannot, for example, raise money by selling shares.
and adam is mad because he has to spend millions to ensure amc shares are traded properly (because they are securites) and vlad's tokens are not securities, so he doesn't have to adhere to thousands of SEC laws.
onchain is the future so like, mr adam, adjust?
ELI5 of TLDR retweeted
NET is like the dollar in 1971.
both are backed, right?
the difference is when you wanted gold for you dollars, you received it.
(assuming you were the central bank of, idk, france, though)
in case of NET is more like “yea, we have USDG behind the token.”
not
“we promise to buy your token from you at that value.”
for example:
their treasury is now $10M, i.e., the value of all coins that back NET, and there is 100,000 NET coins.
so, in this example. NAV (net asset value) = $100 (aka the backing per 1 NET.)
netnet capital increases the backing by lending its treasury money (so the money that are backing your NET coins) to get some interest, by making people pay 5% when they buy NET on uniswap, and through bonds.
bonds are cool innovation introduced by olympus dao - you give netnet capital some tokens (like eth) and they print out of thin air NET coins for you.
so while the treasury grows, the number of NET tokens can also grow.
and they can grow pretty fast.
so to take some NET tokens out of supply, netnet capital uses... super-mega-giga-staking.
netnet capital will pay you in net tokens every 8 hours if you decide to lock your tokens.
so the point is to have the treasury grow faster than net tokens' supply.
and chapeau bas netnet capital because you managed to have your treasury grow faster than supply.
their today's dashboard shows that official reserves rose 65.1%.
and NET supply rose about 10.06%.
so backing per token rose roughly 50.0%.
that is good.
that growth was caused by bonds.
people came with their USDG and exchange them for newly printed net coins with discount.
and they did it because that big staking APY is damn sexy. i mean, while your local bank gives you 6% a year, netnet capital gives you like 10,000%.
so yea, kinda understandable.
such big staking APY happens when NET trades above its backing. when it does, netnet prints NET tokens and give them to stakes.
the more NET trades above its backing, the more and faster stakes get NET coins.
currently NET price is $843.
NAV is $126.
so y'all pay x6.69 the actual backing.
it literally means you pay $6.69 for evert $1 of the treasury.
and you do it because you expect the treasury to grooooow.
and because you know that once NET goes below its backing, netnet capital will use the treasury to buy net coins from the market and burn them.
but i'm still i'm watching closely the project even though it borrowed olympusdao's mechanics.
the previous cycle was only memes, and i'm one of these nerds who love defi and its all bold financial experiments.
go netnet, i guess.
NET is like the dollar in 1971.
both are backed, right?
the difference is when you wanted gold for you dollars, you received it.
(assuming you were the central bank of, idk, france, though)
in case of NET is more like “yea, we have USDG behind the token.”
not
“we promise to buy your token from you at that value.”
for example:
their treasury is now $10M, i.e., the value of all coins that back NET, and there is 100,000 NET coins.
so, in this example. NAV (net asset value) = $100 (aka the backing per 1 NET.)
netnet capital increases the backing by lending its treasury money (so the money that are backing your NET coins) to get some interest, by making people pay 5% when they buy NET on uniswap, and through bonds.
bonds are cool innovation introduced by olympus dao - you give netnet capital some tokens (like eth) and they print out of thin air NET coins for you.
so while the treasury grows, the number of NET tokens can also grow.
and they can grow pretty fast.
so to take some NET tokens out of supply, netnet capital uses... super-mega-giga-staking.
netnet capital will pay you in net tokens every 8 hours if you decide to lock your tokens.
so the point is to have the treasury grow faster than net tokens' supply.
and chapeau bas netnet capital because you managed to have your treasury grow faster than supply.
their today's dashboard shows that official reserves rose 65.1%.
and NET supply rose about 10.06%.
so backing per token rose roughly 50.0%.
that is good.
that growth was caused by bonds.
people came with their USDG and exchange them for newly printed net coins with discount.
and they did it because that big staking APY is damn sexy. i mean, while your local bank gives you 6% a year, netnet capital gives you like 10,000%.
so yea, kinda understandable.
such big staking APY happens when NET trades above its backing. when it does, netnet prints NET tokens and give them to stakes.
the more NET trades above its backing, the more and faster stakes get NET coins.
currently NET price is $843.
NAV is $126.
so y'all pay x6.69 the actual backing.
it literally means you pay $6.69 for evert $1 of the treasury.
and you do it because you expect the treasury to grooooow.
and because you know that once NET goes below its backing, netnet capital will use the treasury to buy net coins from the market and burn them.
but i'm still i'm watching closely the project even though it borrowed olympusdao's mechanics.
the previous cycle was only memes, and i'm one of these nerds who love defi and its all bold financial experiments.
go netnet, i guess.
i hope memefi will be the main theme during this cycle.
let's have a look at stonkbrokers:
so stonkbrokers sells an nft.
the nft also works like a wallet, so just like in the inception movie you have a token that holds tokens.
the nft costs ~$17,500.
and to actually start making some "passive income" money, you must pay up to $43,800. it turns on the "clock in" mechanism that makes you eligible for rewards.
but when you sell the nft, the rewards turn off, so the next buyer will have to turn on the rewards by paying ~$40k again.
the rewards come from people who... buy nfts and turn on rewards.
so like when people will stop buying the broker nfts and stop turning on the rewards... you will stop receiving rewards.
on average stakers locked their ETH when it was trading at ~$2,279
the price is currently at ~$2,466
and even though they are in profit, nobody sells their ETH to put it, idk, in some memecoins
it's like they all collectively expect bigger pumping, no?
😳
ELI5 of TLDR retweeted
ok, solana bulls, one question
Revolut chose to launch their EUR on Ethereum
so did Circle and Société Générale
is it weird that even though Solana is faster, more popular, and cheaper big boys still decide to go with ETH as their first option?
two reasons:
1. real money is actually on ETH. 50% of all stables are on Ethereum.
2. ethereum (and bitcoin) are the only blockchains that cannot be stopped, according to research by Lucas Nuzzi et al.
stuff is eventually being launch on Solana as well but it's never the first option
hmm
Expanding access to locally-denominated stablecoins will accelerate global economic integration.
Welcome to Ethereum, @Revolut.
ok, solana bulls, one question
Revolut chose to launch their EUR on Ethereum
so did Circle and Société Générale
is it weird that even though Solana is faster, more popular, and cheaper big boys still decide to go with ETH as their first option?
two reasons:
1. real money is actually on ETH. 50% of all stables are on Ethereum.
2. ethereum (and bitcoin) are the only blockchains that cannot be stopped, according to research by Lucas Nuzzi et al.
stuff is eventually being launch on Solana as well but it's never the first option
hmm
Expanding access to locally-denominated stablecoins will accelerate global economic integration.
Welcome to Ethereum, @Revolut.
will the dollar stop being the reserve currency in the next 5 years?
34%yes
66%no
61 votes • Final results
