Thread by @wagmiAlexander

🔥 Alpha on #veSolidWars

The market seems woefully confused about the best way to get $SOLID exposure right now. I'm here to help.

Imagine you've got $10,000 and you want $SOLID exposure, whats the best value play?

It's probably not what you think...

👇 🧵

Assumptions

I'm ignoring #FTM protocol specific plays right now because (IMO) there are too many variables there.

I want to focus on the options that are either direct exposure or are solely focused on controlling $SOLID.

That means looking at $SOLID, $SEX, $WeVE, $OXD.

I'm also ignoring the more speculative longer term value proposition around each, but will touch on those later.

I also got very little sleep last night, so it's possible I fucked something up. Please send notes if so!

So how much $SOLID can $10,000 get you with each?
$SEX: 2,126
$SOLID: 833
$WeVE: 692.69
$OXD: 304

What kind of yields can you get on each?
$SEX: 5000%
$SOLID: 3000%
$WeVE: 0%*
$OXD: 1400%

🤯 this is an insane discrepancy!

*No LP, but veDAO is farming + value will accrue back.

Thoughts on $SEX

It is possible the market is undervaluing @SolidexFantom until a bug fix is confirmed.

But, from what I've heard they've got one and @AndreCronjeTech has been involved.

There could also be ill-will from rekt LPs, but recompense could smooth that over quick.

Thoughts on $WeVE

If $SEX is woefully undervalued at the moment, that means $WeVE (@SolidexFantom's top partner) is too.

And if you've been watching closely, you'll see their plan to compound control has been going swimmingly.

In 2 days, they've increased their $SOLID by 50%.

Thoughts on $OXD

I like @0xDAO_fi, but am at a loss as to why people are buying / holding it at current prices.

$OXD represents a share of their initial $veSOLID allocation and access to their "partner benefits".

That means...

...to buy it at today's prices, you have to pay 7x the price per $SOLID that $SEX gets you.

If someone has run a model on how those benefits can close that gap in ROI I'd love to see it.

I fear folks are just confused about what they're buying OXD v1. It's not their $CVX, yet.

Thoughts on Yield

Beyond the stunning discrepancies in price / $SOLID, there is also the opportunity cost of missed yields.

Not only can $SEX get you 7x the value of $OXD, but you can farm/compound it for 5,000% APR.

That is 3.5x more than the 1,400% APR of the $OXD pool.

Conclusion

I took time away from furious compounding yields this morning to see if the numbers would shift my strategy.

🙅‍♂️ they have not

👉 $SEX is a 7x better value than $OXD
👉 $SEX can farm 3.5x the yield of $OXD
👉 $WeVE is increasing control of $SOLID + $SEX

So...

I'm going to...
👉 Continue to Stack + Farm $SEX
👉 Stack and Farm SOLIDsex / $SOLID
👉 Accumulate more $WeVE
👉 Eventually buy some $OXD v2 with my gains

Thanks for reading! Retweet the alpha and give me a follow for more.

wagmi✌️

https://twitter.com/wagmiAlexander/status/1497221462352031744