Thread by @invadermeerkat

Can the upcoming @0xDAO_fi launch trigger a huge supply/demand imbalance for $OXD? Is there better play than simply burning $OXD for $oxSOLID? I think there might be👇 (1/6)

$OXD has only one use now: burning it. When you burn $OXD:
1) You get oxSOLID, a token that represents veSOLID controlled by 0xDAO 1:1
2) You get partnership status with 0xDAO. As a partner you get pretty nice benefits. Details can be found at: docs.oxdao.fi/general-inform… (2/6)

1) Now simply burning OXD to get oxSOLID is not a good motivator. By doing so you are paying a significant (up to 300%+) premium & you would be better off buying $SOLID from the market. You can see the specifics of the calculation attached. (3/6)

2) The partnership status is the real value behind burning OXD. 0xDAO will consider any OXD holder that burns their tokens as a launch partner & partners will enjoy great benefits. For details see screenshot/link: docs.oxdao.fi/general-inform… (4/6)

Now, my speculation:

1. 0xDAO controls more votes than Solidex & their APRs will be better
2. So, people will want to buy OXD to burn to get partnership status
3. All the while more OXD gets burnt every second, rapidly reducing supply

You see where this is going, right? (5/6)

So far, to get the partnership status, no minimum threshold of burnt OXD was announced by @0xDAO_fi. The dynamics of the play I described in my last tweet will change depending on any such threshold. It would be quite minimal if there is no threshold. (6/6 - END)