I DON'T UNDERSTAND WHY PEOPLE DON'T USE GROK FOR CRYPTO.
Most traders are looking at charts from 3 months ago.
Grok analyzes real-time sentiment on X to predict tomorrow.
Here are 8 prompts to find the next 10x gem:
TL;DR fixed bugs and improved launches, new @token_works team members, re-evaluating release frequency
Over the last few weeks, hundreds of consumer crypto projects, creatives, artists, and protocols have reached out to learn about strategies.
It’s becoming very clear: a good strategy is a superpower.
Strategies provide a new avenue of exposure for projects that are (1) onchain/transparent; (2) widely accessible; and (3) aligned with their community.
It also gives projects a new design space to pull levers around their economy.
Meanwhile, the system is powered by an insane and passionate network of creatives, artists, tinkerers, and innovators who have rallied around our north star:
$PNKSTR
A few other notes from us:
Our team recognizes the unique benefits and tradeoffs of a curated platform of strategies (e.g. coinbase) vs. an open and permissionless platform for new launches (uniswap)
Both have merits. Both have their own killer advantages.
We think there is a way to create a platform for both curation and openness
We also understand that depending on the category, the needs of each strategy might differ
For example:
- NFT collections
- NFT collections with an already existing token
- Artists with pieces across contracts
- DeFi/Meme tokens
- Brand new projects planning an NFT collection or TGE
Different categories will have different needs
We are in active discussions with a number of partners exploring all of these categories, and we believe the platform should be tailored to each.
If all projects need a strategy, we’re going to make sure those strategies are damn good.
This week I've also brought on three advisors to help me start formalizing the project vision:
@mulligan - my former boss/mentor who built @premint into a juggernaut without venture funding
@redbeardnft - networking and business development wizard
@derekedws - runs @collab_currency and helps crypto projects succeed
As well as @dievardump to help alongside @tetonotsorry with development.
We’ll have an update on launch cadences on Monday, but for now new strategies are paused.
The Token Works.
1% of every NFTStrategy trade goes to buying and burning $PNKSTR.
So far, 4% of $PNKSTR has been burned from trading volume and Punk sales.
The Token Works™
a north star vision for NFTStrategy and $PNKSTR
tl;dr - every project needs a strategy. @token_works is building that foundation
audits - audits are wrapping up, performed by @0xleastwood. there were no critical findings, but minor fixes and improvements have been applied to new deployments. we’ll publish notes soon and move to deploy new strategies imminently, that will inherit the patched templates by default. safety > speed, always.
scheduled projects - starting monday, we’ll ship each of the next five strategies, once every 24 hours, to ensure every community has the spotlight to kick off their strategy.
opening the platform - as soon as the next five strategies have launched, there will be five more strategies launching before the platform opens to the market.
once these have launched, we'll be immediately moving into an auction-based approach for all new strategies on ethereum.
daily auctions will run every 24 hours for new strategy tickers on the platform (ending in STR), along with immediate deployment onto the platform for the following day. mechanics will be purely market-based and procedural, and final details will be announced over the next week. ETH generated from the sale of each ticker / platform slot will be used to market purchase $PNKSTR and burn supply (80% of ETH generated) and distributed to the TokenWorks team for ongoing operation (20% of ETH generated).
we believe this is the best way to onboard new strategies while deepening $PNKSTR's role in the platform, and allowing new strategies to breathe. we can and will revisit the timing / sequencing of new strategies with new information.
new types of projects - we're grateful for an incredible list of new partners that have reached out about launching strategies with new use cases. some of these include launching NFT projects in tandem with strategies, ERC20 based strategies, and a number of different strategy projects on other chains.
every project should have a strategy, and are working hard to bring this to life.
as always, $PNKSTR will remain the ecosystem's north star asset.
we're also looking to expand our team with the addition of an operations manager. if this is you, or you think you can add value to our team in other ways, please send a resume to [email protected]
According to data from @JDHyper on @token_works $PNKSTR so far today,
$PNKSTR has received 24 ETH (~$104,000) in fees directed to buy back and burns
All of the other NFT strategy tokens have done $3.8 million in fees with which 1% gets directed to $PNKSTR buy back and burns
$3.8 million *0.01 = 38,000
+ 104,000 from above
=
$142,000 in daily $PNKSTR bought back and bunt at a market cap of $120 million
$142,000 / $120 million = 0.11% of market cap bought back and burnt today
For comparison
$HYPE which is the gold standard for the buyback mechanism in crypto,
has bought back $2.53 million past 24hr
at a circulating market cap of $12.7 billion
$2.53 million / $12.7 billion = 0.02% of market cap bought back
$PNKSTR is buying back and burning 5.5x the % of market cap than Hype is today
The crazy thing is this is a low volume day for $PNKSTR and I expect the volumes to do multiples once the new launches resume
Also doesn't take into account a Punk being sold that $PNKSTR holds (19 of them) and the proceeds going back to buying the token
Someone correct me if my math is wrong but this thing is ridiculously undervalued
@Rhynotic Hypothetically if one wanted to donate ETH to the $PNKSTR contract to expedite Punk purchases and show appreciation, could you confirm the address to send to?