@johnarb, this might be of interest given your early days of tezos staking and your recent BAYC acquisition. It's more a critique of Apecoin and the current strategy for retail stakers. https://cobie.substack.com/p/apecoi...?r=2n125&s=r&utm_campaign=post&utm_medium=web
Thanks, going to read it now! I tripled my position on Apecoin, too, above $16.50 because I was anticipating a good price move up when the Bored Ape metaverse land sale is announced but it did not happen on 4/20 so price has come down on Apecoin
Wow!! A lot to unpack, but props to cobie, very smart dude. He's made generational wealth and very happy for him but also jealous of him, lol Tezos staking rewards are for blockchain validators, so true to the cryptos ethos of getting paid for securing the blockchain and transactions Staking for simply the purpose of bribing the people to not sell and crash the price is cringe and will not be productive in the long run The staking of Cake is a great model, imho. I don't own any cake now, but yes, it's true, Cake pays 83% APY for simply staking and that might seem like what cobie describes as bribing the holders so they do not sell if you only look at the surface Once you dig deeper, the Cake staking model is actually a reward for shareholders who hold long term. Think of stock shareholders who get quarterly dividends from operating cash flow The Cake staking rewards are paid from emissions, which would trigger some red flags, they are diluting the value of all Cake tokens, but then remember the operating cash flow? Pancakeswap operations buys millions of $ worth of Cake tokens every week and burns them to ensure that the Cake tokens are not debased Much more cake tokens have been burnt than the circulating ones. Billions of $ worth of Cake tokens have been burnt -------------------------------------- Back to Apecoin, the staking mechanism is not like the Cake token model. Will there be operating profits that could make sense for paying rewards to Apecoin holders? I think that's why cobie is critical and rightfully so -------------------------------------- cobie is very down to earth, but his brilliance is awesome Vampire attack the Meta (Facebook) NFT marketplace idea on the metaverse with a BAYC Otherside metaverse NFT marketplace (which by the way is a rumor now) and generate income A lending/borrowing platform for BAYC ecosystem NFT's would be great. Incentivize lenders to lend stablecoins for a yield, and incentivize borrowers from not selling their Bored Apes or Mutants or BAKC to have liquidity at the cost of triggering a tax event A BAYC web3 platform for depositing the BAYC NFT's and hook it up to a 2FA like Google Authenticator or compatible. This web3 can function as verified ID for Discord, Twitter, Ape Fest, VIP access to events or clubs or hotels, etc. This one hits home for me as I am too scared to connect my Metamask wallet that has the Bored Ape, but I know I will have to if I need to claim future BAYC airdrops As a yield farmer, I'm a big fan of incentivizing LP's as they are the ones providing liquidity for buyers and sellers [An aside, love the Tomb fork projects, but they don't seem to last, made some profits on yield farming via LP the Zomb Finance and got out when the peg was about to go below 1.01, Made even much better profits on Polaris got out a couple of nights ago due to NEAR protocol fud unlock of VC tokens that have 400x in value, wNear is half of the LP so it was very painful getting out and seeing the Spolar keep shooting up, but may come back to Polaris after 7-10 days if everything is ok] --------------------------- This article is very very good and I'm very thankful that you shared it It gives me time to think of longer term strategies on Apecoin. I most likely will stake in the short term I have my hopes for Apecoin to be the currency of the Metaverse if the BAYC/Yuga Labs becomes the biggest and baddest and the most successful one beating Facebook/Meta or any of the Web2 giants like Microsoft I think of the movie Ready Player ONE and how the evil corporation either FB Meta or MS or Roblox or any Web2 company are against us, cryptos folks who are for the decentralized Web3 Exciting times for all of us... ----------------------------- Pancakeswap pictures below:
I'm still collecting NFT's however the thesis of Fine Art having more durable value than collectibles isn't bearing any fruit during this market cycle. The thesis as-is against the current market cycle is proving to be invalidated. Regardless of the cringe worthy youtube marketing, Mr Legal Eagle's channel has been a clarifying resource for much of the various issues hitting the news cycle. This one is particular is insightful with regards to NFT's. NFT's vs Tradfi Copyright and Trademark Law Longer but well worth considering the articulate counter-argument, challenging base line crypto bro beliefs;
Came across this AI gen based derivative project of Moonbirds. It seems to be the catalyst for the recent proliferation of AI gen works. I'm generally not a fan of derivative or fan art based works, but if there is an exception this collection would be it. The difference is in the details.
Ukraine Sells Donated CryptoPunk NFT for $100K to Support War Effort https://www.coindesk.com/business/2...eferral&utm_source=rss&utm_campaign=headlines