Superimposing DeFi2.0 to see AC’s ambitions

analyze

With the much-anticipated launch of SOLID, the latest project from Dani and Andre, the Dani Token ecosystem is likely to grow significantly in the near term. Before we jump into the market to buy and sell the sought-after rebase Ponzi, let’s go back and try to understand the current Dani/Andre ecosystem.

Dani has been working in crypto for a while now and has recently become more popular due to his positive personality and involvement in a large number of DeFi protocols. Dani’s followers call themselves “Frog Nation” and they are the most loyal token holders I have ever seen.

Andre is mostly known for his creation of Yearn Finance, one of DeFi’s most well-known yield aggregators. He is also involved in the development of the Keep3r network, which appears to be still in development.

Abracadabra

Abracadabra is one of the more successful DeFi projects in 2021, with a cumulative TVL of $6 billion and the launch of the SPELL governance token. It’s also been a solid year for SPELL. The rise from well below 1 cent to nearly 5 cents provided investors with a sizable return (up around 3,400% from the lows).

Abracadabra provides DeFi users with one-stop service for lending, farming and staking. Abracadabra started with Ethereum and has recently developed cross-chain projects that are used in the Avalanche and Terra ecosystems.

Dani has been involved with the Abracadabra project from the very beginning, which is one of the projects he tweets most actively. Whether it is about the Token destruction announcement or the publicity of Abracadabra’s native stable currency MIM (magic internet money). It looks like Dani prefers Abracadabra to Popsicle Finance.

Abracadabra’s reputation has improved in part due to the entry of Tetranode, the internet giant that recently shared some alpha in the form of a note.

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See the stuff about Curve Wars? Dani never gets fooled, which is why Abracadabra has been all the rage lately. Even in the context of Crypto Twitter where stories come and go every week, Dani and Frog Nation haven’t let Abracadabra disappear from the conversation. This is for sure.

With veSPELL and a reduced release plan, it’s hard not to be bullish on Abracadabra’s long-term prospects. We have already seen cross-chain compatibility on Abracadabra through the Degenbox strategy. There is nothing wrong with adding some incentives to entice users to Fantom, and it might also create some profit opportunities in the Fantom DeFi ecosystem.

Wonderland

Wonderland and its rebase Token TIME are one of the most influential DeFi projects in 2021. As the first OHM fork on Avalanche, Wonderland once subverted the market value of OHM.

TIME’s success can be thanks to TikTok, which many young investors seized on the project and its ridiculously high APY. Despite the bumpy road ahead and TIME currently far from its price highs, Wonderland has managed to maintain its PoL and popularity. Let’s call it the “Dani effect”.

While the vast majority of OHM forks offer little value, and some die quickly, Wonderland actually has the ability to attract new users due to Avalanche’s low cost and Dani’s marketing of the project cryptocurrency.

While the vast majority of OHM forks provide almost no value and some disappear instantly, Wonderland actually has the ability to attract new users to the cryptosphere thanks to Avalanche’s low fees and Dani’s marketing of the project.

While Wonderland has struggled a bit lately, it’s true that no one has a hard time with checks, and Wonderland may end up being Dani’s personal checkbook at some point. Do I support these claims? Not necessarily.

I just believe that if there is no other option, Dani can take a large sum of money and invest it where he wants to. If that happens to see the Wonderland treasury as a venture fund operating as a DAO, so be it. It would certainly be an interesting way to invest in the future of finance, and for Dani it would be in the best interest of Dani to have a stake in the protocols that could prove themselves successful in the future.

It’s all just guesswork.

Olympus and Wonderland have experienced some price hits, and many are starting to wonder if this new protocol model is right to operate and return value to shareholders. Maybe we have to increase APY again to make people feel safe. I think there’s been too much overreaction and people are forgetting about the possibilities created by 9-figure money. In any case, be prepared for more volatility.

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Popsicle

Once upon a time, Popsicle Finance was everyone’s spotlight, and Abracadabra stole the show. Essentially, Popsicle is a yield aggregator that aims to be a market maker in DeFi. Dani said that by the fourth quarter of 2022, he expects Popsicle to bring a fully decentralized order book-based options trading platform. That’s a pretty lofty goal for a platform that competes with first movers like Dopex.

Popsicle has a TVL above $50 million and wants to be capital efficient and provide users with the highest possible yield. As a blockchain-agnostic yield aggregator, Popsicle offers many opportunities for those looking to achieve higher APY while exploring possibilities beyond the Ethereum blockchain.

Popsicle aligns with Dani’s overarching theme of enabling efficient financial infrastructure, with the help of Popsicle to connect once unlinked silos in the cross-chain ecosystem. Dani’s goal is to achieve an open DeFi where users can interact with any chain they want, even without knowing which chain they are using. One of Popsicle’s main products to achieve this is Sorbetto. While Popsicle hasn’t gotten a lot of attention lately, Dani’s recent tweets suggest he’s still interested in the project.

Sushi

One of the most unexpected announcements at the end of 2021 was Dani’s proposal to Sushiswap, and the SUSHI turmoil that followed. After some squabbles at Sushiswap’s core team (which I won’t go into here because there’s so much drama and crap), Dani turned things around with a perfectly timed offer. His plans include a full focus on Sushi’s ability to become a multi-chain DEX, as well as voting custody token economics to provide value to users.

Will this work? Probably not.

Honestly, I haven’t kept up with anything going on with the Sushiswap event, and my schedule has been messed up with Curve Wars. However, I think it’s more of a pet project for Dani, and his recent relationship with Andre may take more of his time.

Maybe he does make it, and it will be interesting to see Sushiswap gain some traction on Fantom. I think this will be a boon for blockchains that need DeFi protocols to drastically improve their UI. But that’s just my personal opinion.

However, if SUSHI were to implement voting custody token economics, things would get messy. The world will be turned upside down. Dani will shrink cz’s net worth. That’s why it’s important to have a little SUSHI in case Dani can achieve his dream. Leave it to fate.

Yearn

For Andre’s project history, he is best known for creating Yearn Finance. Even though it trades on it like a stablecoin, Yearn is a beast, with over $5 billion in TVL and one of the most open and efficient DAOs of all cryptocurrencies, Yearn does not disappoint. Starting with a fair launch, Yearn released their native token YFI, one of the most respected token offerings in the crypto space.

Recently, Yearn announced changes to its token economics and token repurchase mechanism. Essentially, they want to be the black hole of YFI, because buying back their tokens with the income earned will only benefit them in the long run, which is PoL.

Yearn will always have a place in DeFi. Its status as the top three in history is undisputed. Thanks to Andre and his dedicated team. I believe any project or information that Andre produces is for this reason.

Keep3r Network

Honestly, there isn’t much information about Keep3r. In their own words, Keep3r describes themselves as “a decentralized network for projects that require external DevOps and for external teams looking for keeper jobs”.

There are also rumors of veKP3R, in addition to Andre creating a new DeFi primitive that allows LPs to sell theta to earn extra on their positions. For more on this, follow @JackNiewold on Twitter, who knows more about DeFi than I do.

Whatever the outcome of Keep3r, it may have some function in Curve Wars or even Andre’s new Token. I’m out of ideas. The concept is rather interesting, though, as it is already planning to expand to more chains, including Fantom.

a very complex puzzle

I’m calling Dani and Andre’s new token SOLID because it appears to be named based on the information in Andre’s Medium post. I know it could also be called ve(3,3) but I’ll try my luck here and refer to its more likely name. After all, naming a token as ve(3,3) is pretty lame and probably won’t be accepted by the general public.

In my opinion, SOLID is an attempt to expand the solution to the problem we see in DeFi. Back in the summer of DeFi in 2020, we saw that liquidity mining was quickly eliminated. New protocols will emerge, LPs will get huge incentives, and once the rewards are over, the protocols will disappear with the departure of LPs. Repeatedly.

OlympusDAO was able to solve this problem with their new approach to Protocol Owned Liquidity (PoL). Olympus doesn’t need to worry about mercenary speculators, it can encourage investors to take shares and eventually invest in bonds, totaling more than $700 million. Bonds allow Olympus to control their liquidity for a specific time frame, bonds are set for a specific time period, which means that depositors’ funds are basically locked up and handed over to Olympus.

Despite this innovation, the price of OHM fell rapidly from its highs. The same can be said for TIME and other OHM forks, but TIME is especially important for Dani.

We’re in a situation where Olympus and Wonderland both have huge assets, but have little to do with them. I say they can’t do anything about the treasury because realistically, what can they do? Clearly, their tokens have some form of intrinsic value. If the valuation of OHM/TIME is lower than the value of the treasury assets, then the Token is undervalued. But it’s boring.

None of us come to the cryptosphere looking for undervalued assets. We are here for high APR. Do I see a path for Olympus or Wonderland to solve this problem? nothing now. The rebase Ponzi is a bit ahead of its time, and I think both protocols are in a tricky situation. They have reached a dead end.

Go ahead and think back to Curve Wars. Curve and Convex stole the show, demonstrating the power of Ve-style token economics and the influence of giant whales like Tetranode. Many people were quick to seize this new opportunity, with tokens like YFI and RBN announcing the adoption of Curve-like token economics. Despite the crypto-tweet world turning to other trends like FOAN and SOLID, Curve Wars is still very important, and more protocols are likely to adopt Ve-style token economics in the coming months. Tokens are locked, supply decreases, and prices rise. It’s that easy.

Two DeFi Giants

Both Dani and Andre have a lot of commitments and projects, and both have some connection to Curve Wars. In this case, Dani is slightly more involved due to his relationship with Abracadabra. After witnessing innovation and speculation in DeFi, I can assume these two came together and sought a way to combine the two biggest metas in DeFi.

ve(3,3) Token Economics

Yes, this is a real thing. Yes, it can be very controversial, or it can go up quite a bit. People love Ponzi schemes, so it’s almost a certainty. Honestly, I’m not sure how this will play out in the long term, but if the goal is short-term price appreciation, it’s better to hitch a ride from the last two metas than come up with a new meta. Let’s see how this works.

All the information I’m going to post is from Andre’s Medium post. If while you are reading this article, its Token has been released or has information updated, sorry, then this article is out of date. Things are moving fast in crypto Twitter.

SOLID plans to combine the benefits of deflationary supply, a secondary market for locked coins (previously impossible to sell), and incentives for stakers (rebase rewards) through Ve economics.

Fundamentally SOLID, the token appears to be designed to provide a marketplace for governance tokens. If you are able to sell the locked tokens on the secondary market, it can be considered as selling votes. Due to the lock-up mechanism of voting escrow economics, the longer the lock-up time, the more meaningful the reward will increase. If a group of people choose to lock up their tokens for the longest time, they can get a reward and sell their tokens. But there seems to be no such positive event before.

As I mentioned before, I believe SOLID is trying to solve many problems in DeFi, one of the bigger ones is the lack of ability to buy v as a voting proxy in Curve Wars. This is similar to what [Redacted] does, with some nuances. [Redacted] Buying CVX, CRV, and OHM through bonds, which SOLID has yet to mention. Curve Wars hasn’t migrated to Fantom yet, but who knows what the future holds.

SOLID aims to be a fair launch token as it will be distributed via airdrops to the TVL top 20 protocols on Fantom, which is a bold move but may work. Andre’s name is all over it, just like Yearn Finance did with their native YFI. The strategy of airdropping to the community also ties into Dani’s anti-VC philosophy and helps motivate them to transition to Fantom. It’s a win-win situation.

SOLID has some interesting token economics, because the more the supply is locked, the less emissions there will be, and the APR of the locked position is higher, which is the (3,3) feature.

By providing liquidity to the protocol, this acts as an AMM that is not controlled by liquidity mining, but by the community. This is a more interesting take on PoL and essentially flips the idea on its head. It will be interesting to see how these protocols play out and how they take advantage of where they are.

Overall, this is a very novel approach. I think if all goes well, this will easily get into the upper echelon of DeFi and potentially change the meta. I’m not sure when this will all be released, but I’ll keep watching. Leave it to fate.

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The ultimate leader of DeFi

My take on this situation

From an outsider’s perspective, it feels like Dani is doing too much this time around. Whether or not he can see his dreams come true, there’s no point in flexing his talents like he does. Of course, there are a lot of opportunities in the Fantom ecosystem right now, and rebase escrow voting tokens sounds appealing. But it’s pointless that someone can realize a vision of that scale.

I would be shocked if Dani saw frog nation improve Sushi and bring billions of TVL to Fantom and a cross-chain future with Abracadabra. That’s not to say I don’t respect Dani’s work ethic, because obviously he’s a grinder. This is a very different strategy compared to what we’ve seen. Dani is gearing up to complete the most successful horizontal acquisition ever. He gets involved in almost everything.

Before writing this article, I wondered if Popsicle Finance had disappeared from Dani’s life. I’ve been trying to come up with a roadmap for Wonderland and how Dani will come up with more ways to provide value to TIME holders. I’m trying to imagine a cross-chain world where Sushiswap is a DEX that everyone can use. While I’m still skeptical, these thoughts are starting to pop into my head.

If you haven’t read it, go check out this thread on Twitter by @j0hnwang. He does a great job describing some of DeFi’s overlords. Dani is trying to assemble DeFi’s LEGO Death Star (the ultimate planet-bombing weapon of the LEGO Empire), grabbing as many blocks as he can. Will this be a good outcome for him? I’m curious.

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The Three Horsemen of the DeFi Apocalypse

Many of Dani’s coins have far outperformed most of the market, especially when you consider that many older DeFi tokens have underperformed. Just take a look at the charts of SPELL and ICE, and buying either of those from the lows will give you returns that any TradFi fund manager would covet. Are they slightly overvalued now? Maybe a little. But if we see anything in crypto Twitter, even if it is overvalued, it will always go higher. In fact, we are seeing even worthless coins rising.

It’s always been a very interesting rabbit hole to get down in. I had to do a lot of reading, but more to think. Cryptocurrencies are moving so fast that it is almost impossible to predict what will happen next week, let alone next year.

No matter which side you are on, you must respect the hard work of Dani and Andre. Few people in DeFi have such a work ethic, and even fewer can stand the scrutiny and backlash they receive. No matter what happens with SOLID, the crypto-tweeting circle will gain.

One can also commend Dani and Andre for doing what they can to encourage a cross-chain future. Not everyone in the crypto Twitter world can afford to trade on Ethereum on a daily basis, let alone the average investor looking to experience DeFi. Hopefully Fantom can have some success here and achieve its goal of getting the masses into an affordable and fast blockchain.

Whether the project was a success or not, Frog Nation and his Twitter followers built a trench for Dani. I have a hard time believing that he won’t continue to have a high success rate. Dani reinvented the rock star beyond what it meant to be popular in crypto Twitter. He has assembled an army and has now recruited one of the most respected builders to help him create the ultimate Ponzi token.

May we all be successful.

Posted by:CoinYuppie,Reprinted with attribution to:https://coinyuppie.com/superimposing-defi2-0-to-see-acs-ambitions/
Coinyuppie is an open information publishing platform, all information provided is not related to the views and positions of coinyuppie, and does not constitute any investment and financial advice. Users are expected to carefully screen and prevent risks.

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