I’d like to see Lighter team have the same conversations Ethena had with its investors before the $LIT unlocks start..
Ethena team bought out locked $ENA tokens from some investors who wanted out and plus brought the remaining original investor unlocks forward.
Now, LIT has 50% of its original allocation going to team + investors, vesting over 3 years after the year end cliff. roughly 13.9m tokens a month on average..
so if some investors who want liquidity, could willing long term buyers take those allocations with an agreed release schedule ?
$LIT is already being seen as a $HYPE beta now and plus if @vnovakovski pulls this off getting ahead of the unlocks then oh boy.. would win the team a lot of trust from the community.. indirectly leading to more activity, volume, fees and buybacks
@ILOVELUCYADDICT 30% in 2 days with size is absolutely incredible.
You guys have lost your minds being onchain with dogshit going up 200% with your $150.
~ Dr. Axius.
So you're highly convicted that BTC is going to all time high
"Yes Dave"
But you're waiting for confirmation of BTC trading at higher prices before you buy BTC at higher prices?
"Yes Dave"
And you would sell your BTC for a loss if prices went lower even though you're convicted it's going to all time high regardless?
"Yes Dave"
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Not coming soon™️. Live now to download on iOS.
@ThePumponomics the plan from here is the simple one, own what i believe in and sit still.
so these recaps should get boring, which is good.
big learning in this one.
We are excited to announce four updates regarding the Ethena ecosystem, further details on each point are provided in the blog linked below:
1. Buyout of early investors:
The Ethena Foundation executed a buyout of all locked tokens from certain major seed investors that sold any ENA within the last 9 months.
2. Alignment of Token & Equity:
The Ethena Foundation and Ethena Labs have reached agreement on a Master Framework Agreement, whereby IP and ownership of value accrued by the protocol is assigned to the Foundation exclusively and governed by token holders with no residual cash flow due to equity investors in the Labs entity.
3. Revenue Buybacks:
Governance proposal now live for the implementation of the fee switch whereby net revenue accrued across all business lines under the Ethena brand will be used to programmatically buy back the ENA token.
The vote for revenue buyback fee switch implementation is now here, and has already been approved by the Risk Committee:
https://t.co/2urvkqlE6N
4. Removal of monthly VC unlocks:
The Ethena Foundation and lead investors have agreed to eliminate future overhang associated with monthly VC investor unlocks by releasing unvested tokens. All team tokens remain locked per the original vesting schedules.
Further details and documentation is provided in the blog linked below:
Tops and bottoms are arbitrary reference points with little relevance to sound strategies. Most money is made in between. You don’t have to care about them at all. You shouldn’t.
You can be wrong about the low and still make money, or nail it and still lose by sizing badly, exiting early, etc. There’s so much levels to this. The best trade of your year will likely have a mediocre entry and the best call of your year might be one you never sized into.
It’s a separate game with a separate, public scoreboard. So people naturally drift toward the one that gives feedback without noticing they switched games.