/1 $ZORA @zoracles MICRO-CAP thread.
#UNIBOND LAUNCH IMMINENT IN *COMING WEEKS*
A suite of privacy technologies, which are about to culminate into the future leading NFT marketplace by volume… NFTs not of JPEGs, but tokenised yield bearing ASSETS!
The future of NFT = ASSETS
#UNIBOND LAUNCH IMMINENT IN *COMING WEEKS*
A suite of privacy technologies, which are about to culminate into the future leading NFT marketplace by volume… NFTs not of JPEGs, but tokenised yield bearing ASSETS!
The future of NFT = ASSETS
2/ INTRO; The beauty and curse of DLT blockchain is that it is a PUBLIC ledger.
This transparency allows it to be immutable and secured by anyone with a node, however, the downside is that your activity and balances are broadcast publicly.
Your entire $ETH history is public.
This transparency allows it to be immutable and secured by anyone with a node, however, the downside is that your activity and balances are broadcast publicly.
Your entire $ETH history is public.
3/ Zora uses “Zero-Knowledge Succinct Non-Interactive Argument of Knowledge”.
Zk-SNARKS, are math proofs to prove you know something without declaring the actual data.
They effectively work like encryption for blockchain data, by making public data unreadable without the key.
Zk-SNARKS, are math proofs to prove you know something without declaring the actual data.
They effectively work like encryption for blockchain data, by making public data unreadable without the key.
4/ “Oracles” connect deterministic blockchains with off-chain data.
ZORA is a zksnark oracle, which retrieves or provides data without publicly disclosing any sensitive info
e.g, this could be proof-of-ID /credit /debt /ownership /funds etc, without disclosing any personal info
ZORA is a zksnark oracle, which retrieves or provides data without publicly disclosing any sensitive info
e.g, this could be proof-of-ID /credit /debt /ownership /funds etc, without disclosing any personal info
5/ ZORA can use the oracle to learn about you, and generate a reputation score using on-chain private data. The "ZORA SCORE"
This mathematical formula attributes a CONFIDENTIAL value of trust and creditworthiness using metrics of; debt, liquidity, trading/platform history, +more
This mathematical formula attributes a CONFIDENTIAL value of trust and creditworthiness using metrics of; debt, liquidity, trading/platform history, +more
6/So what should a confidential reputation score, and oracle data feed useful for?
Transacting fungible tokens via a DEX is trust-less and uses an automatic market maker (AMM) to determine price, but how do you price a yield bearing NFT?
For this, we need trusted data analytics
Transacting fungible tokens via a DEX is trust-less and uses an automatic market maker (AMM) to determine price, but how do you price a yield bearing NFT?
For this, we need trusted data analytics
7/ Unlike JPEGs, yield bearing NFTs have a quantifiable value, but which is not obvious to a buyer without being presented with proof.
This makes trading and/or borrowing & lending against yield bearing assets difficult and risky.
A new data driven #NFT marketplace is needed
This makes trading and/or borrowing & lending against yield bearing assets difficult and risky.
A new data driven #NFT marketplace is needed
8/ One yield bearing NFT of particular interest are the relatively new concentrated liquidity position NFTs
LP are effectively like bonds for crypto, ranging from ultra-low risk stable-stable LP, to speculative high yield
But there is currently no bond marketplace for crypto!
LP are effectively like bonds for crypto, ranging from ultra-low risk stable-stable LP, to speculative high yield
But there is currently no bond marketplace for crypto!
9/ Enter #UNIBOND, a new marketplace focused entirely on yield bearing NFT assets.
The platform will use a big data approach to assign metrics of fair market price, asset performance, investment risk, buyer/seller score (like eBay), etc
THE FIRST MARKETPLACE FOR NFT ASSETS!
The platform will use a big data approach to assign metrics of fair market price, asset performance, investment risk, buyer/seller score (like eBay), etc
THE FIRST MARKETPLACE FOR NFT ASSETS!
10/But why buy or sell a LP position on #Unibond?
Univ3 LP have up to 4,000x higher capital efficiency than v2. They are far superior in ROI when set up correctly
BUT, the majority of LP remains on V2? Why? Complexity!
Use this tool to see for yourself.
Univ3 LP have up to 4,000x higher capital efficiency than v2. They are far superior in ROI when set up correctly
BUT, the majority of LP remains on V2? Why? Complexity!
Use this tool to see for yourself.
https://twitter.com/danrobinson/status/1429972775511408651?s=20
11/ Even OGs struggle to comprehend the underlying mathematics, & strategies to optimize their LP for maximum yield.
Most would be far better off to leave it to the experts, and buy using the reputation and easy to understand performance analytics of #Unibond, even at a premium.
Most would be far better off to leave it to the experts, and buy using the reputation and easy to understand performance analytics of #Unibond, even at a premium.
12/ Why would non-professionals sell NFT via the site?
Big positions in markets have a significant price impact when unwinding and selling the position, and cause slippage loss.
NFT can sell slightly below market to attract buyers, and still profit.
This is similar to OTC deals
Big positions in markets have a significant price impact when unwinding and selling the position, and cause slippage loss.
NFT can sell slightly below market to attract buyers, and still profit.
This is similar to OTC deals
13/ Having a proper marketplace for such assets is crucial for concentrated LP to thrive, which benefits the whole ecosystem with improved capital efficiency.
In the same way the DEX was the most important invention for stimulating crypto adoption by unlocking P2P network effect
In the same way the DEX was the most important invention for stimulating crypto adoption by unlocking P2P network effect
14/ @opensea did the same thing with JPEG NFTs
JPEGs are minted on the website (primary), and immediately posted on the secondary market at significant mark-up. This only works because of the network effect value a marketplace like @opensea brings!
secondary market >> primary
JPEGs are minted on the website (primary), and immediately posted on the secondary market at significant mark-up. This only works because of the network effect value a marketplace like @opensea brings!
secondary market >> primary
15/ This secondary market volume of JPEG alone annualised is >$15B PA, and its estimated the secondary JPEG market is >100x the primary market
By contrast the primary market of UniswapV3 LP is $3B. The secondary market could already be worth >$300B PA!
This is just Uniswap NFTs
By contrast the primary market of UniswapV3 LP is $3B. The secondary market could already be worth >$300B PA!
This is just Uniswap NFTs
/16 But even more yield bearing NFTs are coming. For example @SushiSwap's #Trident will likely be based on NFT
Plus the narrative to 'tokenise everything'. #NFT are the perfect investment vehicle for crypto, including IRL assets like houses
NFT ASSETS will do EXPONENTIAL volume
Plus the narrative to 'tokenise everything'. #NFT are the perfect investment vehicle for crypto, including IRL assets like houses
NFT ASSETS will do EXPONENTIAL volume
17/ Now imagine you had the chance to invest in @opensea a yr ago, where every transaction fee collected since was distributed 100% to the token holders, and there was a max supply of just 10,000!
Well, that’s exactly what @z0racles #unibond plans to do!
bloomberg.com/press-releases…
Well, that’s exactly what @z0racles #unibond plans to do!
bloomberg.com/press-releases…
18/ Did you read the most important part?
A 1.75% fee will be redistributed to $ZORA holders.
The pre-existing $300B secondary market potential from uniswap alone could generate $5.25B in fees!
At 10,000 max supply, that’s $525k per token PER YEAR! From market vol. ready to go!
A 1.75% fee will be redistributed to $ZORA holders.
The pre-existing $300B secondary market potential from uniswap alone could generate $5.25B in fees!
At 10,000 max supply, that’s $525k per token PER YEAR! From market vol. ready to go!
19/Now for the REALLY exciting bit. By using its proprietary data analytics, Zora can also price an NFT asset's risk as collateral.
That is, ZORA uses your NFT + performance analytics + ZORA score to unlock CONFIDENTIAL liquidity lines-of-credit from an otherwise illiquid asset!
That is, ZORA uses your NFT + performance analytics + ZORA score to unlock CONFIDENTIAL liquidity lines-of-credit from an otherwise illiquid asset!
20/ IMO this is the real game changer.
ZORA will be the FIRST marketplace to be able to confidently price risk to allow borrowing against an illiquid yield bearing NFT.
The interest of the yield can pay of the loan, and you gain liquidity which can be used to gain leverage 🤯
ZORA will be the FIRST marketplace to be able to confidently price risk to allow borrowing against an illiquid yield bearing NFT.
The interest of the yield can pay of the loan, and you gain liquidity which can be used to gain leverage 🤯
21/ This is exactly what whales do IRL. They hold appreciating yield bearing assets, and they borrow against them using an equity-line-of-credit.
Zora uses zk to make this line-of-credit CONFIDENTIAL.
Perfect explanation by @EconomicsEx from 9m30s below
Zora uses zk to make this line-of-credit CONFIDENTIAL.
Perfect explanation by @EconomicsEx from 9m30s below
22/ Using each user's personal ZORA SCORE, performance history, debt, and ranking; ZORA may propose a different fair market lending rate for each user.
Further, the system is so robust the loan-to-value ratio can be increased above 100%, all the way up to fully uncollateralized!
Further, the system is so robust the loan-to-value ratio can be increased above 100%, all the way up to fully uncollateralized!
23/ I can foresee whales competing to become amongst the top ranking users of the platform...
Not to make commission, but purely to maximise their ZORA score to give them access to something much more valuable;
The lowest possible lending rates & collateralization ratios!
Not to make commission, but purely to maximise their ZORA score to give them access to something much more valuable;
The lowest possible lending rates & collateralization ratios!
24/ If a user can securely and cheaply borrow >100% LVR of their assets, they can rebuy the same asset and repeat, effectively leveraging themselves (within ZORA SCORE credit worthiness) whilst using the yield to fund interest.
Again, very similar to IRL empires built using debt
Again, very similar to IRL empires built using debt
25/ We’ll also see 3rd party dApps using the platform's network effect to gain exposure.
e.g auto LP rebalancers like $VISR, $WARP, $LIX, yield aggregators, and IRL asset NFT wrapping ( $NAOS, $ALBT,etc).
All vying for the leaderboard top performer, and also access to capital
e.g auto LP rebalancers like $VISR, $WARP, $LIX, yield aggregators, and IRL asset NFT wrapping ( $NAOS, $ALBT,etc).
All vying for the leaderboard top performer, and also access to capital
26/ Future plans for Zora’s NFT marketplace include shielding transactions (e.g. buyer/seller addresses) through ZK, providing anonymity by leveraging the trust of ZORA SCORE
This opens up a whole new paradigm of privacy for trading NFT assets (JPEG incl)
This opens up a whole new paradigm of privacy for trading NFT assets (JPEG incl)
https://twitter.com/MStiive/status/1430181155505123328?s=20
27/ It is clear we are entering a new dawn where everything will be tokenised.
The growth over the next years is truly unfathomable.
Within network effects, the winner takes it all (think @opensea for JPEG).
ZORA has the first market mover adv to dominate the NFT asset space.
The growth over the next years is truly unfathomable.
Within network effects, the winner takes it all (think @opensea for JPEG).
ZORA has the first market mover adv to dominate the NFT asset space.
/END As always, DYOR and listen to your own brain. This is just my thoughts/speculation.
LINKS
CG: coingecko.com/en/coins/zorac…
DEX: dextools.io/app/uniswap/pa…
Web: zoracles.com
GIT: github.com/zoracles
🔥 #UNIBOND launch in **COMING** weeks! 🔥
Hope you enjoyed.
LINKS
CG: coingecko.com/en/coins/zorac…
DEX: dextools.io/app/uniswap/pa…
Web: zoracles.com
GIT: github.com/zoracles
🔥 #UNIBOND launch in **COMING** weeks! 🔥
Hope you enjoyed.
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