Mike

In life…there’s Roblox. I’m stuck on a tree in the ocean.

[Duncan @FloodCapital]

Oobit is a distribution mechanism for Tether to increase adoption of USDT and USAT making it more useful for end customers (spending/sending easily) with any wallet in the backend.

Oobit benefits from Tether's marketing & rewards campaigns by onboarding customers to their payments app. $OOB directly benefits (50% of fees are used to buy and burn). Tether is also the largest investor in @oobit.

[Duncan @FloodCapital]

Tether is getting everything ready for their USAT launch in December, looking to distribute USAT to 100M Americans!

They invested over $775M into Rumble (51M MAU's in the US) rolling out a full wallet product with them.

"We are investing in two-three companies that would bring that number from 51 million to 100 million"

Tether is prepared to spend billions of dollars to win the US market and @oobit feels like a clear partner here (given Tether is the largest shareholder and past campaigns they have run together).

Oobit makes USAT more useful and familiar enabling real world payments of USAT/any crypto held out of any wallet. Historically they have run aggressive cashback marketing campaigns and with all the fire power Tether is spending on the US market, I expect this time to be no different.

$OOB directly benefit's with 50% of fees going back to a buy and burn (full thesis below).

[Stable @Stable]

Thrilled to announce our partnership with @oobit to advance global USDT payments.

This collaboration enables simple, self-custodial spending across 80M+ Visa-supported merchants worldwide.

A major step forward in real-world stablecoin utility.

[Duncan @FloodCapital]

This is awesome to see from Oobit and creates a direct path to potentially trading as Tether beta/exposure! (If Oobit can get 1M active US users that could potentially create $38M-140M dollars in yearly buybacks for $OOB).

50% of all app fees will be used to buy and burn $OOB + holding $OOB will unlock cheaper fees & more features for Oobit users.

I am very excited for this value accrual mechanism and it paves the way for $OOB to become a direct beneficiary of Tether's giant war chest and marketing dollars.

Tether is the largest USD stablecoin provider in the world with $184B USDT circulating. This is an incredible business generating them over $13B in profit last year alone.

Despite this, Tether lacks significant adoption in the United States given historically unfriendly regulation.

This is all changing with the new administration embracing US dollar stablecoins (as a new source for US debt - see Scott Bessent's commentary on this) and the launch of Tether's US focused and fully GENIUS Act compliant stablecoin, USAT.

Tether has communicated it's plans to aggressively spend in the US to gain market share and distribute USAT, given historical partnerships (Tether + Oobit + Ton 5% cashback on ton-USDT payments, back in January of this year, etc) and Tether being the largest shareholder in Oobit, it makes sense they would run marketing campaigns with them upon their US launch. (+ Oobit hinted at this yesterday with their latest Oobit + USAT post).

Tether has already spent some serious cash to position themselves in the US market investing $775M into Rumble (who has 51M MAU's heavily skewed towards the US) and have directly communicated an aggressive plan for their launch of USAT:

"We are going to hit the ground running, and we're going to start taking away market share from our competitors that were the ones that tried to kill us in the first place" - Paolo Ardino CEO of Tether

Now lets imagine Tether (similar to the TON, Tether, Oobit cashback deal) does a super aggressive campaign on USAT, for example - 10% cash back up on payments up to a certain $ spend per user.

You essentially have a massive incentive for US users to download Oobit and spend USAT - Oobit gets to piggyback off of Tethers marketing dollars and onboard customers which it can monetize. 50% of that monetization goes right back into buying and burning $OOB!

If this campaign can onboard a few hundred thousand - to a few million US users the monetization potential for Oobit and $OOB buybacks could be huge! Lets run some numbers.

In 2024 (will provide figures for both revenue & profitability - given the wording of "50% of all app fees" that sounds like revenue but I am not sure) Cash App had...

57M active users & made $16.25B in revenue, 4.32B in gross profit, this equals =
$16.25B / 57M = $285 per user per year in revenue
$4.32B / 57M= $76 per user per year

So if Oobit could onboard 1M active US users with the same economics as Cash App that could be - $285M a year in revenue / $76M a year in profit!

Depending on exactly how the buybacks work that could be $38M-142M / year in $OOB buybacks per 1M active users!

Cash App seems like a decent comp given a similar product suite to Oobit but these are just illustrative best guesses.

I am eager to see the Oobit team publish more metrics on their user stats and monetization!

The point of this is to show how Oobit could become a distribution mechanism for Tether to grow USAT and increase its functionality by making it easily spendable anywhere. Oobit can then benefit from Tether's marketing & rewards campaigns to onboard high-value US customers!

[SBL @sblonchain]

It appears $oob is running 50% fee buybacks, a $50M DAT backing the ecosystem, and tokenomics that are actually sustainable.

And people are still fading it?

Again most won’t realize this until it’s obvious.

[Oobit @oobit]

🚨 $OOB Token Update:

Total supply: 1 billion $OOB, built on the Solana network.

50% of all app fees generated from OOB are allocated to token buybacks & burn, as defined in the OOB token model.

$OOB grants access to reduced fees, unlocked features, rewards, and daily use-case spending.

Pay with crypto anywhere Visa is accepted while keeping your preferred wallet.

When utility and buyback mechanics are aligned, the OOB ecosystem is positioned for meaningful growth as adoption increases.

[Mike @MikeIsNGMI]

@notanicecat69 Elasticity

[Shitc0in @shitc0in]

Oob relative strength is impressive but not surprising when you consider the following:

- Tether lead the $25m round, with Toly also in
- $100m DAT, $50m acquired at $0.2 with a further $50m to be deployed on the secondary market before the EOY
- Potential for a further $100m to be deployed depending on the DAT volume
- Recently announced the rollout of USAT in the States in December
- Flywheel coming into effect with 50% of all app fees generated from $OOB will be used for token buybacks & burn 🔥

Oobillions

https://t.co/tFODjFeNFJ

[Duncan @FloodCapital]

$OOB + Tether partnership for USAT?

Paolo has talked about how Tether is investing in companies to boost USAT distribution - feels likely they might do something with $OOB similar to what they've done in the past (Tether + $TON + $OOB - 5% cashback on USDT-Ton payments back in Jan).

Pretty exciting if $OOB is going to be one of Tethers main distribution partners for USAT to really hit the ground running in the US! We have seen that Tether has a big appetite / budget to spend on US marketing having invested ~$775M into Rumble last year!

Could easily see them spending hundreds of millions to bootstrap USAT in the US and Oobit could be a direct beneficiary of that (marketing dollars to onboard customers and make USAT easily spendable).

[Mike @MikeIsNGMI]

@amram_adar

[Amram Adar @amram_adar]

Made for America 💙🇺🇸

[Mike @MikeIsNGMI]

@notanicecat69 Clockwork

[Oobit @oobit]

The US is up next 🇺🇸

Stablecoins are locked in.
USAT (Tether) is in position.
Wallets are fully prepared.

Now the real-world rollout begins.
Launching in early December.

[Mike @MikeIsNGMI]

@SolSwizzle King

[Mike @MikeIsNGMI]

@oobit @RiskOnPod Oh?

[Burgz @brrrgrrrz]

a lot of people asking good questions about the timing of $OOB. why announce $50M in secondary market buys & give traders a chance to front run?

I think this is based on typical token team dynamics: price goes up so we can exit higher.

pure speculation, but here's why that may not be true:
- Tether wants Oobit to win to drive global USDT adoption
- $OOB is the official ecosystem token. Higher price is a strategic advantage: better rewards, incentives, and other growth strategies
- Price also creates attention/narrative/legitimacy which can be worth a lot of $ to a business
- DAT gives them a sustainable way to keep the wheels turning via bigger capital pools

I hadn't even heard of Oobit until a few days ago, but I think it's worth considering the other strategic angles when something makes no sense according to current mental models.

[Mike @MikeIsNGMI]

@brrrgrrrz

[Mike @MikeIsNGMI]

@game_for_one Something light