1) Ty @syrupsid for the post re: $MPL. In the continued interest of transparency we’d like to challenge/debate some points mentioned in the thread 🧵👇 (longer than usual sorry)
2a)$MPL Overview:3 Stakeholders Lenders,Cover,Pool Delegate(PD)
i)Lenders=SeniorTranche, deposit USDC for lower return but first loss (FL) safety cushion from Cover
ii)Cover=Junior/Equity, deposit MPL-USDC in Bal pool SUPPOSED to be FL protection to Lenders for higher returns
Jun 7, 2022 • 7 tweets • 4 min read
1/ Reviewed the @ribbonfinance $RBN convertible bond (CB) offering via @porterfinance_ .
TL/DR - While I am fan of both $RBN and @porterfinance_ @~7% YTM this offering leaves a lot to be desired from a holder's perspective... CBs are complex so this is just high level 👇🧵
2/ CBs have both debt and equity features
Debt: $RBN is raising $3M (3.1 bonds * .967/each), backed by the token (20% LTV) maturing 12/14/22 YTM = 7.1% (exc pot airdrops)
Equity:Conversion Rate ~1.11 RBN so @.3/each RBN has to >3x by YE for the call (.9 strike) to have value
Mar 18, 2022 • 6 tweets • 3 min read
Lets talk about this POS @StargateFinance@LayerZero_Labs Token Launch #Rug
TL/DR
1)Auction = Sniped
2)Launched DEX AFTER BC (dumb asf)
3)Crosschain Transfers not functional rugging all non-ETH BCs
4)Offer more supply @.25 while DEX/BCs trading higher fucking bonders👇🧵
1) Auction - 2 bots sniped which is annoying asf but happens often enough that you can get past it ... sad they didn't think of this given team has DeFi farmers who've dealt w this
Jan 27, 2022 • 13 tweets • 6 min read
1/ RONIN ($RON), the L2 gov token of the $AXS/$SLP ecosystem went live today. $RON is the first and only legit L2 GT in the market rn and its a hard comp bc it can be viewed as NFT platform, DEX, L1/L2, etc. So what's it worth? Smoll Shill 🧵👇Disclosure: Obvi long $RON #DYOR2/ Thread Overview a) Total ETH Bridge TVL / DAU growth metrics / NFT Volume (Macro) b) Quantitative Analysis (Pool APRs, Comp Set Multiples, FV) / Qualitative Assessment (Micro)
Nov 4, 2021 • 4 tweets • 2 min read
Quick shill🧵on $RON and $SLP 👇 1) RONIN -the L2 of the $AXS ecosystem- is launching a new governance token $RON. RONIN currently holds >$8B in assets which is more than ALL other L2s combined (inc. VC shilled Arbitrum and Optimism). But guess what Anon ... There's MOAR
2) This token will be 100% community owned as its only farmable. So what's $RON worth? L2s = new L1 so IMO it'll be a TVL war for the sidechains. Higher TVL = higher valuation = more memes, gifs and more gfs for your gfs
