I think it might be a little different and I'm going to break down my theory below (Not Financial Advice)👇
2/ Moderators in the @BoredApeYC Discord weren't really aware of any potential collaboration. It's possible that they're not up-to-date on everything that's happening just like @CM_Gilgamesh isn't informed on all details in #STEPN but it got me thinking.
3/ Let's put the pieces of the puzzle together.
There's a lot of buzzing around #Ethereum being the potential third realm and we know that #NFTs are huge on both @solana as well as @ethereum
In the AMA of 05/03 @Jerry10240 stated that they're not planning to run the game on Eth.
4/ My theory is that #STEPN wants to increase their influence in the NFT space and attract holders from other verified blue chip projects by leveraging their customised sneakers.
In the AMA of 14/05 (
6/ What if #STEPN is now trying to build on top of this? What if they want to reach out to the #BAYC holders, ask them for the rights to their trademark and use it as skins on their sneakers?
The original NFT holder would receive a share of each sold sneaker with their ape skin.
7/ This wouldn't require an official @BoredApeYC partnership and is in line with what @NGBxShpend shared in the Discord.
"doing something for apes trying to include them"
Bored Ape holders would thus be able to monetise their NFT and perhaps market it & bring new users to #STEPN
8/ It should be pretty easy to have a wallet with a Bored Ape sign a digital contract which verifies him/her as the holder and agrees to the request of @Stepnofficial to use their NFT.
It also sets a precedent for other blue chip NFT holders which own the trademark to their NFT.
9/ #STEPN would then collect the right to several NFTs and add them to their "Skin pool" which could come in handy in their "re-roll sneaker skin" aka "panda skin" event.
This is of course just a theory but I wanted to set out a new line of thinking.
10/ They might have already acquired the right to some apes in order to facilitate the Ape sneakers as mentioned in their latest tweet (
2/ What?
Simply put, a DEX is a decentralised marketplace / exchange where you can trade your tokens in a non-custodial way (you never lose the control of your assets).
Remember: Not your keys, not your coins.
3/ How?
The earlier DEXes (think 2017-2018) were very much like a pinboard at school. Requests such as: "I sell 10 BTC for 10,000 USD, looking for a buyer!". Someone could respond and conduct a p2p transaction.
Nowadays they mostly work through the concept of Liquidity Pools.
1/20
Summary #STEPN@Stepnofficial AMA 15/06/2022:
* AMA on Twitter Spaces
* @yawn_rong and @Jerry10240
* User growth
* @shitirastogi
* Economical issues
* Why #STEPN will survive
* Recent updates
* Extra notes
* SMAC
* DOOAR
* Realms
* Sneaker synthesis
* FUD
* #GST vs #GMT
2/ Townhall (AMA) on Twitter Spaces
* Monthly event from now on
* To reach as many people as possible
* Format might change for the next one (difficult to go over all user questions)
3/ * @yawn_rong working on dev, marketing, front end etc. (Realm expansion, partnerships etc). It was too much.
* @yawn_rong & @Jerry10240 will talk about technical things from time to time
* Professional people dealing with professional things (Yawn talking & sharing too much)
We don't have access to the #STEPN backend API but let's try to do an estimation by tracking all wallets on #BSC and their #GST txs.
The idea is simple: The first tracked #GST tx in a wallet is considered a new user.
Let's take a look 👇
2/ Three interesting events have been marked in the chart.
- The airdrop to #SOLANA genesis shoe holders: A slight immediate increase in new wallet addresses. Huge delayed impact.
- Launch of SMAC: App downtime impact on new wallets
- #STEPN's action plan: Short term euphoria
3/ Summary:
It's clear that it took some time for user interest to pickup.
The start of the exponential growth begun on 2022-05-19 and peaked on 2022-05-29 with a total of 8943 new daily created #BSC wallet addresses.
As of today we see around 1,000 daily new #BSC addresses.
2/ "Cross-realm energy bridge"
I think this goes too far. If they want the other realms to succeed and satisfy partners, they'll need users.
My concerns:
One shoe on #SOL and one shoe on #BSC will suffice to have two energy in the new realm. No advantage to hold more.
3/ 1. Most users hold their highest amount of sneakers on Solana and will opt for Solana for #GMT earnings (as they're shared). #GST earnings in the newest realm will probably outperform #GST earnings in older realms (such as #BSC). Why would I stay on e.g. #BSC in that case?
1/25
People have been messaging and tagging me in the last few days. I first needed some time to contemplate the actions of the #STEPN team. I'll share some of my thoughts below. 👇
To clarify. I’m not a team member nor ambassador of the project. I’m just an interested investor.
2/ First of all, I’m sure most of you have read the tweet by @Mable_Jiang by now (
The first question I've got is: "Who’s the CEO, decision maker & leader at #StepN?"
Every company has a hierarchical structure.
3/ It’s not entirely clear to me why the communication regarding the replacement of @yawn_rong as a spokesman of #StepN was shared through the personal Twitter account of another employee of the company.
A central source of information is needed. Currently, it's everywhere.
1/20
Let's take a step back and re-analyse StepN from afar based on what we know.
Should we be worried about #StepN moving into a death spiral or is this just FUD?
I'll lay out what I know and my thoughts. None of this should be taken as financial advice. 🧵👇
2/ #StepN is an investment which has done extremely well during the BTC downtrend. Until recently. We must stay focussed & vigilant.
Investment is a process. A daily uphill battle. Patience is key.
We all want to make money without opening ourselves up to high amounts of risk.
3/ We do so by working hard, finding bargains and claim any edge we can get.
As a result there is no easy money. It requires dedication and effort.
You want to do better than average and outperform others thus you need to think on a different level as well.
Be ahead of the game.