Thread by @CryptoShlug

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

https://twitter.com/ChimeraDefi/status/1608133959480709123?s=20&t=x4DbdBamIlfiE7sNCWVBJg

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

Links/sources used making this thread:

pine-ixora-306.notion.site/Liquid-Staking…

https://twitter.com/RobinHoodRiches/status/1612927240764801033

https://twitter.com/ChimeraDefi/status/1608133944905502730?s=20&t=x4DbdBamIlfiE7sNCWVBJg

dune.com/ratedw3b/Eth2-…

coingecko.com/en/coins/share…

etherscan.io/token/0x24C19F…

18/21

Other useful #LiquidStaking or $SGT material:

defillama.com/protocols/liqu…

https://twitter.com/WestieCapital/status/1613645213792366595?s=20&t=P25QQcGC2e-fkUR1ET1Hxg

docs.sharedstake.finance

sharedstake.org/FAQ

19/21

Socials:

Twitter - twitter.com/SharedStakeOrg
TG - t.me/SharedStakeFin…
Discord - discord.com/invite/C9GhCv8…
Github - github.com/SharedStake
Medium - medium.com/@ChimeraDefi
Dev - twitter.com/ChimeraDefi
Web - sharedstake.org

20/21

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!

https://twitter.com/CryptoShlug/status/1615122225690025987?s=20&t=hdpMDgx0nFs63MuR5nkg5w

@rektfoodfarmer