Thread by @thedefiedge

Don't miss out on getting ve(3,3)Tokens!

@AndreCronjeTech + @danielesesta are teaming up for the most anticipated DeFi project ever.

• a simple explanation of ve(3,3)
• What the Protocols are saying
• Vampire attacks
• How to get $rock tokens soon

🧵

/1 What is Ve(3,3)?

It’s a new tokenomics model.

It combines the best of DeFi 2.0 and additional tweaks.

• Ve - Users who LOCK up their tokens (for years) get the most voting power.

• 3,3 - staking / rebasing mechanics

• LOCKED voting tokens will be NFT’s which allow liquidity.

The tokenomics will be implemented through a new AMM called @solidswap ($rock) built on FTM

You're not here for the tech :-).

I'm going to focus on how to obtain the tokens.

/2 Why so much HYPE over ve(3,3)?

1. It's an evolution of AMM's. It solves issues with fees, governance. and users incentives

2. @AndreCronjeTech and @danielesesta are the DeFi GOATS.

Were you late to invest in their other projects?

This is your chance to be Day 1.

/3 How will the $Rock tokens be distributed?

They're airdropping NFT's containing the tokens.

It goes to the top 20 protocols on FTM by TVL on DeFiLlama on January 23 7pm (SAST)

defillama.com/chain/Fantom

It’s then UP TO THE PROTOCOLS to distribute the tokens how they see fit.

/4 The Tolkienomics

There's an all-out WAR to enter the top 20.

It's like everyone in LOTR battling for the rings of powers.

What's the POWER of $rock?

• voting power and control over @solidswap.

• unfair advantage to attract users and liquidity to their platform.

/5 How do WE get the tokens?

• The Protocols get the airdrop. NOT US.

• The Protocols THEN decide how they want to distribute these tokens.

So...have ANY protocols mentioned how they will be distributing the tokens?

Kinda.

/6 @LiquidDriver

from @dr_liquid_

• Liquid Driver isn’t going to distribute it to their xLQDR as many predicted.

• Instead, they want to KEEP it in the treasury. They can use it to incentivize liquidity and generate fees.

BTW $LQDR is one of my favorite plays right now.

/7 Beethoven X @beethoven_x

Most protocols are operating like BEETS

They are just as confused as much as we are.

They're not even sure if they'll be in the top 20 TVL by Snapshot.

So they have a wait-and-see approach. They're keeping their cards close to their chest for now.

/8 What will the Protocols do?

It'll be interesting to see the tactics that they use.

Here are my theories:

• Keep it in treasury and NOT distribute
• Airdrop to users (low iq move)
• Distribute as rewards to LOCKED holders like locking up xLQDR.

• Do nothing. Some of the top 20 are bridges who might not care about this.
• Rewards for staking (VeDao / 0x / Popsicle)
• Reward the ppl who have been with the protocol for months.
• Sell it to another protocol.
• Trade to another protocol.

/9 Keep in mind that some are DAO’s.

The decision will be up to the voters.

• Will they vote for what's best for the protocol long term?

• Or will they vote to distribute the tokens for themselves as soon as possible?

/10 Everyone's been bridging to FTM

Liquidity has been SUCKED away from the other L1’s and onto FTM.

Everyone's risking off because of the Dip.

Many users are experiencing the speed and low fees of FTM for the first time.

There has been one interesting side effect of all this

/11 When Vampires Attack

Remember when I said the Top 20 protocols by TVL get the airdrop?

This has led to Vampire Attacks.

It's when a protocol offers better rates in order to steal their customers and investors.

@sushiswap got their start with a vampire attack on @uniswap!

/12 An UNKNOWN Mercenary enters

Remember @ConstitutionDAO a few months ago?

A group of ppl raised funds to buy a copy of the constitution.

@_VeDao_ is doing that for $Rock tokens.

Stake tokens and earn weVe which earns $rock.

They SKYROCKETED to the top within 24 hrs.

/13 Some people aren’t happy with VeDao

• No one knows who developed it. Team is anon.

• 10% allocation to the team

• They're viewed as mercenaries that sucked liquidity out of the OG FTM protocols.

The OG's were building when no one care about FTM.

/14 The FTM OG's Fightback /w @0xdao_fi

• A team of spooky, scream, revenant, liquid driver, and reaper

• 0% team allocation

• Ridiculous APY

"And we're opening a marketplace for bribing where every fantom based can bribe 0XD holders for vote allocation" @dr_liquid_

/15 Whoa, 0xDao Flips VeDao within hours!

0xDAO is at $3.62B while veDAO is at $723m

/16 Frog Nation Enters the War

Last night, Frog Nation entered the war. Users can stake wMemo on @PopsicleFinance

It's like Aragon (@danielesesta) arrives with the army of the dead (Frog Nation) in the final battle.

Here's a guide:

https://twitter.com/thedefiedge/status/1485053466137485313

/17 My Gameplan.

• Staking wMemo on Popsicle

• SINGLE side Staking at @0xDAO_fi They're a safer bet over _vedao_ because the developers are FTM Gods.

• Staying on top of my fav protocols over the next few weeks to see what their game plans are.

/18 is it worth it?

Yes.

Don't you hate the feeling of being late to a project?

Being early...SUPER early to a project can mean massive gains.

This is your chance.

Not just ANY project.

@AndreCronjeTech + @danielesesta /w tokenomics feedback by @Tetranode

/19 Risks

1. Lots of fomo / hype. Tokens might not be worth as much.

2. Andre changing the rules. Maybe he doesn't want to reward the mercenary protocols.

3. If you're farming 0xdao_fi or _vedao_ tokens, you might get dumped on.

4. Staking wMemo might not make Top 20

/20 Thoughts:

• I hate seeing OG protocols like @tarotfinance, @LiquidDriver, @morpheusswap. etc being left.

We should be rewarding the people who built FTM.

• Andre needs someone to help him translate. Most frogs can't speak gigabrain.

/21 I pulled an all-nighter to get this out in time!

This saga's going into the DeFi history books.

Follow me @thedefiedge and I'll keep you up to date on the token distributions.

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