1/8) Zeus Capital is obviously attempting to profit from spreading FUD about LINK. Including using paid promotions over Twitter.
The report itself is full of inaccuracies & misinformation, even concluding with how to short LINK.
chainlink.docsend.com/view/nfrvnyuuz…
This needs debunking:
The report itself is full of inaccuracies & misinformation, even concluding with how to short LINK.
chainlink.docsend.com/view/nfrvnyuuz…
This needs debunking:
2/8)
1. Pump & dump groups are operating over all cryptocurrencies, unless it can be linked to the team this is not a valid criticism
2. The company does not act as a gatekeeper, only formal partnerships require permission, not all nodes
3. No evidence of "bogus" partnerships
1. Pump & dump groups are operating over all cryptocurrencies, unless it can be linked to the team this is not a valid criticism
2. The company does not act as a gatekeeper, only formal partnerships require permission, not all nodes
3. No evidence of "bogus" partnerships
3/8)
4. LINK does not run on ETH testnet, this claim is flat out false
5. High gas prices are the fault of ETH not LINK, this critique is moot
6. LINK has not exposed users to financial losses due to it running on ETH, this claim is false
7. There is no incentive conflict
4. LINK does not run on ETH testnet, this claim is flat out false
5. High gas prices are the fault of ETH not LINK, this critique is moot
6. LINK has not exposed users to financial losses due to it running on ETH, this claim is false
7. There is no incentive conflict
4/8)
8. The selling of LINK by founders is not a red flag considering it is part of the original social contract
9. Critising LINK for its Oracle centralization is missing the point of what LINK achieves as a quasi decentralized system, solving the oracle problem pragmatically
8. The selling of LINK by founders is not a red flag considering it is part of the original social contract
9. Critising LINK for its Oracle centralization is missing the point of what LINK achieves as a quasi decentralized system, solving the oracle problem pragmatically
5/8)
10. LINK being classified as a security is not a problem unique to LINK, there are multiple paths to resolve this with the SEC as has been done before by other projects
11. Reduction in usage is inline with the rest of the ecosystem at that time, cherry picking statistics
10. LINK being classified as a security is not a problem unique to LINK, there are multiple paths to resolve this with the SEC as has been done before by other projects
11. Reduction in usage is inline with the rest of the ecosystem at that time, cherry picking statistics
6/8)
12. The promise of LINK is in its institutional network effects for oracles, which is not easy for individual projects to replicate, unlike what is claimed
13. Having a international team using coworking spaces is not necessarily a bad thing, better to measure by results.
12. The promise of LINK is in its institutional network effects for oracles, which is not easy for individual projects to replicate, unlike what is claimed
13. Having a international team using coworking spaces is not necessarily a bad thing, better to measure by results.
7/8)
14. 16 oracles controlling most of the work over such a network is a very healthy number. Having a greater number of major oracles is uneccesary
The report states this means it is centralized, that is false since it is built on ETH, which enforces the smart contract rules
14. 16 oracles controlling most of the work over such a network is a very healthy number. Having a greater number of major oracles is uneccesary
The report states this means it is centralized, that is false since it is built on ETH, which enforces the smart contract rules
8/8) There are valid critiques within this report, including LINK distribution, staking & admin keys.
However, these facts where already well known before the release of this report, it does not expose anything new.
Be carefull out there, there are manipulators in this market.
However, these facts where already well known before the release of this report, it does not expose anything new.
Be carefull out there, there are manipulators in this market.
