Thread by @ShaharAbrams

#Celsians Let's take a minute to speculate on how CelsiusX could work and why it might be a massive gamechanger for @celsiusnetwork


Hold my hand, anon, and let's peer down the rabbit hole together.... 🕳️
🧵

1/ Per the teaser
we know that CelsiusX will be a wrapped token platform, allowing users to withdraw native tokens in the app to... any chain they want?

So we could be the first to get wrapped tokens, like ADA or DOT, on an ETH L2 like Polygon? Yes!

2/
But what's the point? What to do with these tokens when we have them outside their native chain?
You know by now anon, one word: YIELD

3/
That's where liquidity comes in. In the world of Defi on web3, there can be no utility without liquidity. This is what projects like OlympusDAO, Curve, Tokemak, Abracadabra, and many others figured out. It's the KEY.

https://twitter.com/ShaharAbrams/status/1461086402016428038?s=20

4/
Celsius says they will bootstrap massive liquidity for their wrapped tokens. But can they do it? Heck yes.

Celsius has a LOT of weight to throw around: If we were listed on DefiPulse where would we be? Number 1. We have the same assets as the other guys on there, after all

5/
Back in August, Avalanche launched a $180M incentive program to attract the likes of Curve, Aave, Abracadabra, and more. Celsius is bigger than any one of them.

6/
Any L1 or aspiring L2 looking to launch Defi services will be willing to give Celsius massive incentives to deploy our AUM there. What does this mean? Yield.

Yield gets you liquidity, liquidity gets you Defi apps. The apps can get you more yield... Repeat.

7/
Why will those aspiring to Defi trust CelsiusX? Because they won't need to - the architecture will use cutting-edge chainlink oracles to constantly audit wrapped token proof of reserves.

Wrapped tokens ought to be trustless from the get go.

8/
But it gets better. Users that find themselves with these wrapped tokens will realize that the best place to unwrap them... is Celsius.

Because remember Celsius is still in posession of the native tokens. What else could we do with them, anon? Do you remember our one word?

9/
That's right, MOAR YIELD. We'll have to see how the UX ends up but I'd assume the user won't have to do anything.

Even if they don't want to withdraw the tokens, CelsiusX can still wrap and deploy them to... wherever the yield is the best!

10/
Polygon? Avalanche? Arbitrum? Moonriver? doesn't matter. The L1s and their dapps will be coming TO US. We give them liquidity, they give us yield, users get more tokens. It's a win-win-WIN

11/
This is why I'm convinced CelsiusX can make a difference in yield & in utility (2 sides same coin) thru deployments onto other chains

The wrapping service alone can be a new institutional-grade product for big players that want to move assets cross-chain with deep liqudity..

12/
Where does all this extra yield and income go? And how does $CEL token partake in the benefits? That's where I think this gets really interesting. And that's a thread for another day - this one's already getting long!

13/
But here are a few options off the top of my head:
-Yield directly to HODLers
-Yield bonuses gated by $CEL loyalty tier
-CelsiusDAO, revenue share, community empowerment + decision-making to drive further dapp development

Or some combination

What do you all think? #Celsians