Why does my brain do this to me? Supposed to be working... instead fixated on the implications of the migration from to
1) In case ye didn't know: migration ratio = 100:1. Every 100 LEND will get you 1 AAVE.
2) Current supply of = 1.3 billion, so we should see a cap of 13 million .
But no...
Instead, we'll see an extra 3 million enter the world via the pliable birth canal that is the blockchain for a total of 16 million
3) The whole thing feels like a little wand-waving to conjure 30% more supply out of thin air...
4) Oh yeah, with the added "bonus" of turning the token into the "insurance" fund in the event of a catastrophic failure. Thanks for the additional risk lol
5) Sounds lame so far, but it ain't. There's good news. The new supply won't flood the market
Governance will say how to use it... some will be held to secure the system. The rest will be for enticements to help grow
6) My takeaways: I like the optics/ease of a smaller circulating supply
16 million is just easier to grok than a random-ass 1.3 billion .
7) My brutally-honest takeaway (like I've been drinking too much):
Print that fucking money !
Oh yeah. Make the system grow! We all know you came along too early to benefit from yield farming
(instead other yield farming platforms benefitted from you!)
7.5) Now, though, with those extra tokies, should be able to create some right proper incentives to pour fuel on its already 🔥 growth trajectory.
8) More: Everyone feels like #defi is growing insanely and they seem to think $10 billion locked is a huge deal
Me thinks that's the smallest little mound of 🥜 imaginable relative to where this is all going
9) Even within #DeFi itself, $10 billion locked isn't much. It's less than 3% of the total market cap of ALL cryptos.
We could be at 10% of the total market (about $35 billion) by the end of the year...
10) Say we hit $35 billion total locked in DeFi. If keeps the 3rd place slot and the ratios don't change, it will have $5 billion+ locked
Current MC = 43% of total locked
10.5) If that stays the same when they have $5 billion locked, will be worth $2.15 billion or $134 per token (that's about $1.65 per token or a gain of about 200%)
11) Of course, I think things like are going to be what brings the COMMON MAN into our nerdy little club. So $5 billion locked seems like a sandbagger's goal. Even the 100th largest bank in the U.S. has 3x that amount!
11.5) Seriously. No. 100 = City National Bank of Florida in Miami with $16 billion in assets. en.wikipedia.org/wiki/List_of_l…
12) Aave is a protocol. It's not a company, so it's not fair to compare it to a bank.
It will hold so much more than a fucking bank.
13) Closing words (I promise):
is still in its pre-pubescent days. It has pimples. It gets a woody even thinking about holding a girl's hand. One night, we will go to bed and will be a cute little boy. We will wake up in the morning and it will be a man.
14) will have $50 billion locked. It will literally shut down some of the banks on that Top 100 list. It will integrate with the rest
15) I need to get back to work
16) Keep your head down, @StaniKulechov You're an inspiration
17) Peace, love and alpha, my frens
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