Thread by @2lambro

Raised 12.6m but only took 200k and returned it back to investors ?
Potentially the first dominate solidly fork on @Polygon?

Meet @SatinExchange

📍In this thread
1️⃣ What is Satin?
2️⃣Satin follow on Sale
3️⃣Lambro’s Summary, thinking & speculation

Unrolled for u here! subscribe me while u are there
2lambroz.substack.com/p/raised-126m-…

1️⃣What is Satin
🔹TLDR

🔹Key highlight of Satin exchange
🔹Satin yield distribution & fee model
🔹Traction so far
🔹Tweets from friends

🔹TLDR
Satin is a Solidy fork using $CASH (yield bearing stable by @Stabl_Fi) for LPs, achieving a higher capital efficient LP attract deep liquidity.

🔹Key highlight of Satin exchange
● Satin exchange is a solidy fork built on @0xpolygon, supporting stable swap and uniswap v2 swaps.

● Instead of stable coin for LP, it uses a yield bearing stable coin $CASH allowing LP to earn trading fee +yields from $CASH (low risk stable coin strategy) Giving LP a higher capital efficiency

● $SATIN/$CASH LP can be locked into veNFT ($veSATIN) earn yield they voted for

● Claimable $CASH rebases in veSATIN (earn stable yield while boosting LP yield)

● Low fees Stable 0.01%/ Volatile 0.2%

🔹Satin yield distribution & fee model
$SATIN is the governance token, users can $Satin/$CASH for $veSATIN for boosted yield

There are Main Pools & Partner Pools on @Satinexchange
For Main pools
● 90% trading fee to veSATIN holder
● 10% to treasury

For partnerpools
● 65% to veSATIN holder
● 25% to Partner’s treasury
● 10% to treasury

🔹Traction so far
They did a “overflow model” sale for 200k but got 12.6m attraction.

Overflow model meaning users can deposit the amount they wish to invest in and receive allocation based on the % of it to the total committed. Additional funds was return to the investor

So far they have partnership with
@0xPolygon @GainsNetwork_io @KlimaDAO @staderlabs @LidoFinance @beefyfinance

info from @0xShinChannn

🔹Tweets from friends
I am late to the party. Here are some of my friends that did great threads on them. Give them a follow if u aren’t already!
@Only1temmy

https://twitter.com/ViktorDefi/status/1626231806730305541

@ViktorDefi

https://twitter.com/Only1temmy/status/1629008683077365760

@0xShinChannn

https://twitter.com/0xShinChannn/status/1628813270554644485

2️⃣Satin follow on Sale

Start time: 00:00 UTC March 1st, 2023
End time: 2359 UTC March 4th, 2023
Duration: 4 days

Vesting: 12 week linear vesting

Expiry veSATIN airdrop for all participants in the amount of 1 veSatin for every 2 $SATIN secured
Expiration after 12 weeks

Tokens for sale: 895M $SATIN
Token Price: $0.0008
Total USD Value: $716,000
Raise valuation: $20M

Launch valuation $25M

🔹Tokenomics
Total Supply of $SATIN is 25,000,000,000 tokens.

●Vesting not clear
only got trust me bro 1 year linar from discord

3️⃣Lambro’s Summary, thinking & speculation

🤔Utility, Hard Market Demand (not Sure)
❌Valuation (a bit expensive)
✅Speculation (doable)
🤔Investors profile (cant check)
❓Metrics to monitor
🐑Summary

Like/retweet this if u got to here so more people can read this!

🤔Utility, Hard Market Demand (not Sure)
Basically can't check is there a "need" for the token since its a farming uility driven token. it will depend on the trading volume &fee.

❌Valuation (a bit expensive)
Comparing other solidly exchange
@VelodromeFi
MCAP 36M FDV 172.5M TVL313M
go to solidly farm on OP #optimism

@ThenaFi_
MCAP 49.69M FDV 49.7M TVL 155.18M
biggest solidly farm on #BNBChain

@solidlizardfi
MCAP12.4M FDV12.4 TVL89.24
recent degen farm on #Arbitrum

@Equalizer0x
MCAP3.1M FDV39.8M TVL44.37
#FTM solidly with some traction

✅Speculation (doable)
● First solidly fork that got traction
● New less competitive battlefield compare to arbitrum & FTM
● Polygon dex trading vol is not bad its actually more than OP

❓Metrics to monitor
● Dex volume
● Liquidity pool depth
● $SATIN fee & emission ratio change when they launch.

🐑Summary
I am not sure about $SAINT

it can be a hit or miss. I like the narrative of “first” on polygon but FDV 20M valuation might be a bit high.

With an Anon team and without clear indication on emission or vesting schedule on their gitbook is very hard for me to ape in.

If i were to go in i will check the emission and the $veSAINT airdrop from taking part in the public sale depending on how much edge i can get to in early farming with those $veSAINT

I can’t comment on best strategy to investa without knowing the initial mcap.

If u are looking to ape farm pls note weekly emission is 1.2% of total supply) with 2% weeky decay.

its very aggressive but still might be a profitable farm n sell strategy for short term.

As for long term i will keep an eye on the metrics to decide in future

Thanks for reading give me a like and subscribe me!

2lambroz.substack.com/p/raised-126m-…

Tagging u coz i m not even 5k yet

@milesdeutscher
@CJCJCJCJ_

@Crypt0_Andrew

@monosarin

@defi_mochi

@alpha_pls

@DeFi_Cheetah

@OnChainWizard

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@Only1temmy

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@TheCryptoDog
@LouisCooper_

Tagging u coz i m not 5k yet
@thedailydegenhq

@DAdvisoor

@rektdiomedes

@crypto_linn

@crypthoem

@ViktorDefi

@DeFi_educator

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Tagging u coz i m not 5k yet
@thewolfofdefi
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@chainfeedsxyz
@0xAbel_eth
@victalk_eth
@nft_hu

@UST_DAO
@Dacongfred
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@0xShinChannn
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@0xJamesXXX