Happy New Year! 🥳
2024 is set to be a huge year for Photo Finish™ LIVE.
Let's recap the biggest milestones of 2023, with a glimpse at some of the things we've already planned to accomplish in early 2024. 🏇🏽
Read the New Year's Day note from Third Time Games CEO & Founder @iancummingsnft ⬇️
https://t.co/MbPVRETUmk
The #DePin mothership @gridnetproject - $GNC 🧙♂️
With the rise of a need for decentralized and private infrastructure in an increasingly uncertain world, crypto ecosystem participants are looking for projects that fit the original ways of crypto - with a focus on decentralization, privacy, and security.
It is easy to lose track of this vision in recent years when most people are just chasing the next VC-hyped vaporware pump. But there is still hope.
Some projects have been relentlessly building over the last years to value the true cypherpunk ethos and bring the ultimate one-in-all platform for decentralized infrastructure.
🧙♂️My bull thesis on $GNC:
Gridnet is a decentralized OS delivering infrastructure to support dozens of use cases in a decentralized and privacy-respecting manner, ranging from dApps to decentralized AI systems, decentralized file storage systems, DEXes, decentralized messaging apps, and many more.
The best way to give you an idea about the stage of development and what Gridnet is is to check out the UI directly:
https://t.co/OGlOaUdDKd
🧙♂️Security
When connecting to the above UI, Gridnet OS ensures that everything is end-to-end encrypted at all times in a decentralized manner. It features the first implementation that eliminates reliance on centralized servers and ensures that the initial WebRTC handshake between peers is carried out through random nodes, drastically increasing security and privacy.
On top of that, it further secures the user's communication to the UI with unique custom elliptic curve cryptography, onion routing, zero-knowledge proof, decentralized WebRTC signaling, and more layers of TLS encryption.
🧙♂️Usecase
To grasp that significance, let me give you some daily use cases for the UI.
Imagine you are in a cafe or internet shop, where you don't know if you can trust the internet connection safety. You can now connect to the gridnetOS UI, log in with your wallet, and safely and privately operate all businesses, from handling data to transacting crypto. The same scenario applies in restrictive countries and situations where you don't feel secure about whoever might be watching you digitally.
So far, there have been only browsers like TOR you could use but no whole dOS experience, which secures all layers from the basis and also allows you to store data, apps, crypto, and more.
🧙♂️Team
The team of academic researchers led by Rafal Skowronski has been working since 2017 with an astonishing development track record, with daily YouTube coding sessions, nearly weekly updates, and vast communication on their discord and several blogs.
🧙♂️Tokenomics
Tokenomics are rather attractive, with around 417k $GNC dilution per month and an estimated 30M GNC circulating by 2028.
Current OTC rates are between 3-5$ and on a massive discount from the top of 8-9$. The circulating supply is around 7.4m $GNC, giving it an MC of 21-35m MC.
🧙♂️Evaluation
There have been massive attacks on the network over the last months, which sadly delayed some urgently needed developments like the wallet upgrade and the first exchange listings. Still, the team has announced these upgrades for the next month and also the first t2 exchange listings for Q1 2024.
There is still a lot of hesitation to buy in the OTC stage and due to the network outages, but that's precisely where you should start adding and not when it takes off again.
Overall, at the current stage, $GNC is, IMO, massively undervalued at this MC, and with this promising product, which is an absolute spot-on fit for the forming DePIN narrative and makes a lot of the DePIN project obsolete because their use case is already integrated into GridnetOS or can be easily added.
On top of that, there are many things most haven't discovered yet about this project. Very hyped about the future of $GNC 🧙♂️
Hidden feature of the $BTC ETFs is the share price being a much smaller number than coin price.
• $47,000 for a coin = How much higher can it really go?
• $27 for a share = What if this goes to $100?
Unit bias is a hell of a drug.
Shit load of spot ETF's just got approved, Bitcoin is trading p much at 93 week highs...
Yet spot is trading at a premium
0 signs of froth
It's just fkin magnificent
Before we begin, I would like to express my respect for the @MessariCrypto and @EV3ventures teams, as well as the two exceptional analysts, @Old_Samster and @Danconia_Crypto, who contributed to this research.
You can access the original paper for free ↓
https://t.co/kreczEkiro
The neurons should fire in the following order, with the biggest % moves occurring the furthest down the funnel:
1. "Buy ETH"
2. "Buy existing L2 tokens and LSD tokens"
3. "Buy defi and memecoin tokens on L2's that don't have tokens yet"
wtf is stakenet?
StakeNet is a new primitive for Solana that allows one to build autonomous, decentralized programs that allocate resources across a network of node operators.
StakeNet was originally designed for Solana liquid staking protocols. Today, every Solana liquid staking protocol uses a hot wallet to control their delegation strategy, which brings a slew of centralization risks that become increasingly concerning as the total amount of LSTs on Solana increases. In order for liquid staking to truly scale, this hot wallet needs to be decentralized. StakeNet was built to do this.
In addition to running stake pools, I think there’s an application for StakeNet in other decentralized, high performance, and autonomous networks. This can be things like restaking protocols, liquid restaking networks, oracle networks, and more. In this article, I’ll cover why StakeNet was created, what it can do today, some cool things people could build, and where I think StakeNet could head in the future.
Link to the entire article in the next tweet
Most components for an $ETHBTC bottom are here:
- narrative shift: from BTC ETF to ETH ETF
- upcoming events: EigenLayer airdrop
- chart: 50% correction + fakeout of 2022 lows
- sentiment: extreme pessimism