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Treehouse

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  1. I like this one because unlike a lot of DeFi, the coin is based on providing a service that is tied to a widely needed/used service and has a utility with a clear pathway for expansion. How many DEXs will we really need in a mature ecosystem? More than one, but not one hundred.
  2. Does anyone know about Equilibrium games? I saw that they are airdropping on XBRL, but couldn't find much usable information about them. I would also say to look up Phantom Galaxies. They have a pretty amazing looking game in the making. Credible studios behind them as well.
  3. I haven't seen anything authoritative on how to establish fair value of airdrops. I have started taking screenshots from major exchanges and sites like Coingecko on the date that I receive an airdrop. I take whatever those show as the fair market value of the coins. I suppose if it was a widely visible coin with private market sales where the price had been published, then you might be able to take that as the basis.
  4. I came across Equilibrium Games referenced as an emerging project, but wasn't able to get much from their website. It looks like it is quite small at the moment and lacks some of the things that I usually value such as a Dev Team that shares their names, road maps, etc. I'm not quite sure why they were getting attention and am wondering if I am missing something here. Is anyone else following them? Any resources that you would recommend reading on them?
  5. That just leaves Coinbase standing alone amongst the big players. And pretty unapologetically alone, it seems, but hoping that they will realize being an outlier is not necessarily a good thing.
  6. I read the Bison paper, but still not to clear on the purpose and what the coin will specifically be doing. What "strategic products"? Are there a lot of products with some being strategic and some not? Products to do what?
  7. Fair point on market cap and, yes, the thinking in my original post was flawed. My main question was where is the fiat capital that is driving crypto coming from at the moment and I think that I distracted with the (flawed) comments on market cap. Looking at your last comment, I'm also curious about how you think about valuation for coins like XRP. For a lot of these coins, it seems that their "hard" value in a future mature state would be tied to their transaction volume/fees which would be combined with some "soft" value (e.g., people wanting to own votes in governance). I tend to think that value creation potential of the leaders in a mature crypto ecosystem will settle into returns on a spectrum similar to what you can get from investing into large companies today.
  8. The investment rationale is mostly speculation, I would agree. I also suspect that a lot of the market cap is leverage linked to stable coins like Tether that would not survive a bank run if they had redeem large amounts suddenly. But I am still curious about the source of the investors that are sustaining the prices of XRP over $1 as well as who are the players sustaining coins like Shiba. I see a lot of references to institutional investors in the crypto media, but I don't think that the institutions that underpin stock and bond markets (insurance, pensions, endowments) are playing in crypto yet. At the same time, I have a hard time seeing high net worth individuals providing 3 trillion in market cap (unless it is actually only 300 billion with 10x leverage, which might be the case). So I am curious both about the sources of capital for the market as a whole and specifically into XRP, particularly since it has been delisted from so many exchanges. Who is trading and where?
  9. I also started reading about Centrifuge over the weekend. They also have a model of using a block chain to securitize cash flows from real world assets. I couldn't figure out what provides the actual legal guarantee that your counterparty won't default or rug pull, but the founders are a credible group that have built legitimate fintechs in TradFi so I assume that they have some mechanism in place. They are focused on supporting small businesses to securitize assets like receivables or other types of payment commitments that businesses regularly receive. They also allow for junior/senior liquidity provision. Interesting project that is aiming to join the PolkaDot ecosystem, but already has a functioning platform that fills a legitimate need.
  10. I have a similar question. If we work from the basis of the proposition of becoming the medium for international payments, then I have trouble coming up with a model that takes market cap beyond a few trillion dollars in absolute best case. That said, there are a lot of new use cases emerging over the last year, which I think will be very additive to XRP and will have benefits that I don't know how to estimate. That said, I am also puzzled at what has sustained the price at the current level. I don't think that the volumes in ODL would explain it.
  11. To my understanding they are different from both Synthetix and Mirror in that those protocols create a token that tracks a price (so it is a type of derivative in my mind) whereas Sologenic is setting up a structure that allows you to have legal ownership of the actual securities. So it seems quite different to me (and preferable in many ways if they are able to set up a sound legal basis and if they are trustworthy as a financial services provider). I'm not sure if Synth and Mirror have some sort of collateral system linked to the asset such that a token representing a stock price has some intrinsic value tied to ownership of that collateral, but I haven't seen such in what I read about Synthetix. I haven't read much on Mirror.
  12. Maybe I can offer a little light, but maybe also more confusion. There is a company called Sologenic that has a "core team" that appears to be a group of people who also run a company called Coinfield. The founder, Bob Ras, describes himself as the founder of the Sologenic ecosystem and the CEO of Coinfield. There is also another sologenic.org which is presents itself as having a "core team" who stewards the development of the whole ecosystem and they are the ones who apparently called for the airdrop. I haven't found any identification of the "core team" (although maybe I haven't looked hard enough), but I assume that it is the same people. Bob Ras is an entrepreneur who saw an opportunity in blockchain - tokenization of stocks and using blockchain to go around the restrictions on trading across borders and jurisdictions through the traditional brokerage system. I didn't see anything that went into depth about his background other than some vague statements about having started some businesses and successfully exited. I'm undecided on my views. The project concept is indeed a very good one and, if executed with integrity and skill, would be very powerful. However, they have set up a seemingly complex structure of entities and this is hardly a "trustless venture." The whole success is dependent on having ties into traditional financial institutions, trusting the team to have secured the right licenses, and placing your faith in the quality of their legal contracts. Then there is also the tech side. There are seemingly 200 million coins in circulation, so this airdrop will essentially put all the remaining coins into play. I would guess that the posting above which speculates that a large percentage of these will end up in going back to people connected to the project under the cover of airdrop. I read their White Paper on the sologenic company and it is clear enough to be convincing that they have a solid idea and plan, but not detailed or transparent enough to allow the readers to really evaluate the project, the economics, or the vested interests. Having read the White Paper on the company, it's not clear to me what benefit (other than long-time solo holders getting more coins) the airdrop brings to the project. I should add that the air drop has been decided by a core team that claims to be interested in the good of the ecosystem rather than an interest in securities tokenization project, but I haven't found any plans / white papers / road maps for anything other than the company. So, on the balance, it feels more suspect than solid even though I would like to believe in the project.
  13. Thanks - all of your points above make sense to me. I would see the more obvious effects as being a more stable pricing. In terms of generating upward pressure on XRP price due to XRP being tied up in off-book balances combined with the need for liquidity at any given moment in the day, it seems to me that the ODL volumes needs to be running in the billions at least if not tens of billions to have a noticeable effect on XRP prices. That's a back of envelope math and not a carefully calculated one, but welcome hearing if others view it differently.
  14. This seems to be very good news for Ripple, but seems to be non-news for XRP. I would welcome if someone has details/numbers to give it a different spin, but this does seem to be mainly wash trading that will demonstrate the utility of XRP, but will not have any material effect on price in the short or medium-term.
  15. Question out to the XRP chat folks - what do you think about sologenic? I just came across it recently and find it quite intriguing. The online presence is a bit confusing since it seems that there is a developer community managing the coin, but a lot of links go to a company that is in the process of setting up a DEX and getting the required EU financial intermediary licensing to support the trading of tokenized stocks. I find it really interesting in two ways. First, I have been wondering how tokenized stock trading (which I assume is essentially a derivative rather than actual rights to stock ownership) would interact with the traditional world of equity trading. I can understand the use cases of more obscure derivatives in traditional markets, but don't quite see why one would want to trade a token linked to a stock price as opposed to actually trading the real stock with actual ownership rights. The friction in traditional markets is so low, I don't see the advantage of a shadow blockchain solution. Second, I am really interested to see how this develops as a very clear fusion of consumer-facing blockchain product that is deeply embedded into traditional financial markets. I assume that the solo coin has broader use cases beyond this specific company/App, although I am not too clear on the specific advantages that it has over other tokens/chains. I still need to do more reading on it. Any thoughts from others?
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