@FabianoSolana Which card has the lowest fee for depositing crypto. I'm not keen on immediately wiping off 3% just to deposit onto the card. I get better value withdrawing fiat into my bank account and spending using tradfi.
I've just entered $letsbonk CDBdbNqmrLu1PcgjrFG52yxg71QnFhBZcUE6PSFdbonk. I did a single sided bid ask with 0.5 SOL only. I'm hoping it will retrace and then play the range for a while. Volume is picking up... Let's see. I'll give it the day to generate some fees. #LiquidityPools
Short thread on why paying influencers to shill your coin can be good short term, but devastating medium to long term๐
As you would have seen on twitter, certain coins will do the rounds with ALL the "influencers". I put this term "influencer" lightly, btw.
I will use the ERC404 flash in the market as an example.
And look, I've got to give it to them, they had a well coordinated and well funded social presence. (Which also made hybrid DeFi WAY more bullish, I can talk about that later.)
As you saw, within a span of 1-2 days, twitter "influencers" were all of a sudden talking about ERC404 and major publishing outlets like @TheBlock__ were pushing them, too.
So you guys may not know this, but, there is obviously an inner circle that these "influencers" are connected to (the ones constantly shilling new coins every few days or weekly). Don't get me wrong, legit traders and people with real market knowledge are out there!
So what happens is, projects will be asked if they want to be shilled through influencer networks to get noticed.
These influencers are on a list with their cost and then the deal gets done. (The lists are out there if you look).
Almost always the cost is some of the projects supply.
They give some of their supply to these influencers in the form of a payment to be shilled to their followers.
Now, short term this is obviously great as you get quick exposure, but as with all things, especially with markets there are no shortcuts.
Why is this devastating mid/long term for the price?
Well, between the influencers it can become a race to exit, a race to not be dumped on first.
As they shill to their followers, they generate exit liquidity with whatever their shilling and that exit liquidity is obviously used for them to sell.
And then the cycle repeats the next week, new coin to shill, money to be made and on and on we go.
So be very careful when you see the same ticker/tickers getting promoted on twitter all at the same time, whatever chain it is and that circle of influencers.
This even happens in traditional markets, its nothing new to crypto! If anything, its a tale as old as time.
So, that payment of the supply to them has to go somewhere and it's not to their cold wallet!
That's why fair launch free mints really are goated, you can see where and what the distribution is. If done properly, there will be no premine to give away, nothing to be airdropped, no insider or vc over head to dump.
This is great for price appreciation. In fact, raising zero dollars is always best but thats also another thread for another time.
In some cases you may actually need to raise money, and that's fine! There are definitely fair ways for vc's to invest and this is mostly done by time framed lock ups, but thats a different thread entirely!
Be safe out there and just remember, there is no second best ๐ธโป๏ธ๐
$bozo NFT deflation hit another new record, starting to accelerate at 28.3%
Only 717/1000 NFTโs are now available as they quickly evaporate.
This is true scarcity in hybrid DeFi using SPL20.
There really is no second best ๐ธโป๏ธ๐
The first automated DeFi hub is here ๐
Introducing the #MitoTestnet built on @Injective_
Now open to all Early Access Pass NFT holders! Get exclusive access and complete Mito Missions today ๐
NFT exposure via fractionalisation
A hybrid defi alpha thread ๐๐งต
You wanted to buy a bored ape but, they were selling for $1,000 and you couldn't afford it. You then watched them go to $100,000 without you.
Wouldn't you have liked exposure to that 100x?
What if you had $700 and fell $300 short and you missed out on a 100x because of this?
How many other NFT's have you been priced out of?
Using our hybrid model you can still have exposure!
You simply buy our coin on the open market instead as our NFT and coins are priced at a 1:1 ratio (mostly, sometimes the NFT carries a premium because they deflate)
You can still gain exposure to our NFT's price performance even if you can't afford to buy the whole thing ๐ฅ
Complete game changer.
Our NFT's are essentially fractionalised via the tokens they hold.
800k tokens : 1 bozo NFT
Owning 200k $bozo tokens is the same as owning 25% of the $bozo NFT.
This is the power of our hybrid model, no bozo gets left behind.
gm bozo's
Deflation is almost at record highs with only 739/1,000 NFT's available.
As we consolidated deflation actually came down a few points which indicated large wallets accumulating coins.
Deflation will continue to increase as weak hands get shaken out.
๐ธโป๏ธ๐