CrypτaoShlug Profile picture
Jan 16, 2023 22 tweets 16 min read Read on X
Earlier today I tweeted I had come across a coin "that imo is almost guaranteed to 5-10x in the short-medium term regardless of what BTC does due to the narrative". I genuinely believe this. The narrative is #LiquidStaking #LSD & the coin is....Time for a thread 🧵

1/21
First of all, what is #LSD or the Liquid Staking Derivatives narrative & why should you care?

To understand LSD you must first understand native staking on $ETH. Eths move to PoS means holders can now stake their tokens, validate transactions & earn $ETH rewards for it.

2/21
Exact rewards stakers receive is minimally ever changing but it remains relatively constant around 4% APY. Sounds good? It is but not for all holders. stakers must stake at least 32 ETH to be a reward-earning validator. This is a lot of shekels for the average $ETH plebian.

3/21
What's more, the staked $ETH AND it's rewards are not withdrawable prior to the Shanghai Update (coming Q1 this year). Load of shite I hear you say? Based! This non withdrawal issue is what lead to the genesis of the various #LSD / #LiquidStaking protocols.

4/21
All LSD protocols work slightly different but the general flow is:
-Give protocol your $ETH - get liquid LSD ETH back
-Protocol native stakes your $ETH & earns rewards (YAY)
-Rewards paid out in additional LSD ETH (YAY)

5/21
The benefit of this to the $ETH plebs is that you can earn via the native staking with less than the required 32 $ETH (YAY) AND you can exit your LSD ETH position if you so deem it wise while still earning rewards.

6/21
That's all a load of bollix & I don't really care, get to the point Shlug.

These #LSD protocols have become huge, some of which include: $LDO, $FXS, $ANKR, $RPL, $SWISE, $SD. However, these have grown to have some huge market caps & alls huge TVLs.

Who's the best R:R?

7/21
I'm glad you asked, imo hands down the best #LSD in terms of potential of x's from right now has to be $SGT / @SharedStakeOrg.

What's the TL:DR on $SGT?
-They are an #LSD as described above where you give them your $ETH to stake & you remain liquid to that amount

8/21
-SharedStake optimizes Eth2.0 staking profits by creating an off-chain yield bearing stable token.
-By using vEth2 instead of other wrapped Eth tokens, DeFi users gain an extra 8-9% yearly growth with off-chain profit distribution.
- $SGT currently has 16K $ETH staked (wow)

9/21
- $SGT also create revenue from their own #MEV bot which makes roughly 1 to 1.2 $ETH / day & on December 28th $SGT crossed 100 ETH in MEV rewards giving them 325.2 $ETH protocol profit.
-User #veth2 redemption price ~1.0813



10/21
$SGT is the governance token used to direct the SharedStake DAO. This can be platform improvements, partnerships with additional protocols/DAOs etc. One of such improvements currently before governance is the issue of LIQUIDITY, or lack there of.

11/21
$SGT is currently available on sushiswap ($88K liq) & uniswap ($65K) & has a marketcap of $1.1 million ONLY. This mcap makes $SGT a micro micro cap & enormously lagging behind it's fellow #LSD protocols. In order for $SGT to attract the whales it needs more LP

12/21
Team is well aware of this & it's currently being actioned. Many people will wait until the liquidity is bolstered before apeing, however on my research into #LSD protocols I found $FIS at $25 mil mcap (25x more than $SGT) & only $190K mcap but they also trade on Binance

13/21
What's the bulla case, can $SGT do some numbers?

By Christ she can!

From chart below we can see how $SGG compares to the other major #LSD players. $SGT liq:mcap ratio is an incredible 22.5 Vs the 2.01 average of the rest. This imo well depicts the room it has to poomp

14/21
Now $SGT has only 482 holders with numbers increasing everyday as this coin is beginning to trickle into CT. 991 have it on their watchlists on CG, I'd be sure a lot of these are people sidelined waiting for better liquidity. $SGT are upping twitter presence also ASAP.

15/21
The coin has pumped the past few days but that is mainly due to the very bad liq it had, since then 10 $ETH+ has been added but even at this level I think the R:R is huge. On the 4 hr chart it is consolidating under resistance & looks like it wants to rip.

16/21
The #LiquidityStaking #LSD narrative is only just heating up, it has so much room to run yet imo and $SGT will be one of the best protocols to benefit from investment wise. I couldn't wait sidelined any longer incase it ran so I've been DCAing slowly the past few days.

17/21
Due low liq & 2 pools use swap.cow.fi or 1inch.io for best spread if buying. If you've enjoyed this, learned anything, are bullish on $SGT or all the above (or none of the above tbh) it would be appreciated if you like & RT, ty!

• • •

Missing some Tweet in this thread? You can try to force a refresh
 

Keep Current with CrypτaoShlug

CrypτaoShlug Profile picture

Stay in touch and get notified when new unrolls are available from this author!

Read all threads

This Thread may be Removed Anytime!

PDF

Twitter may remove this content at anytime! Save it as PDF for later use!

Try unrolling a thread yourself!

how to unroll video
  1. Follow @ThreadReaderApp to mention us!

  2. From a Twitter thread mention us with a keyword "unroll"
@threadreaderapp unroll

Practice here first or read more on our help page!

Did Thread Reader help you today?

Support us! We are indie developers!


This site is made by just two indie developers on a laptop doing marketing, support and development! Read more about the story.

Become a Premium Member ($3/month or $30/year) and get exclusive features!

Become Premium

Don't want to be a Premium member but still want to support us?

Make a small donation by buying us coffee ($5) or help with server cost ($10)

Donate via Paypal

Or Donate anonymously using crypto!

Ethereum

0xfe58350B80634f60Fa6Dc149a72b4DFbc17D341E copy

Bitcoin

3ATGMxNzCUFzxpMCHL5sWSt4DVtS8UqXpi copy

Thank you for your support!

Follow Us!

:(