Notes On Fantom Unchained ep. 39
Taking a pause from studying for CFA because it’s the Fantom Unchained day.
It’s a special episode because Nick Drakon is participating again.
As usual I made some notes and here is what I got. 👇
Disclaimer: I made these notes for myself and I decided to share them. I make them because it helps me to really focus on what's being said. I noted what I found interesting. Not everything might be here. Nothing here is a financial advice.
June Market Outlook
- Jamie Diamon is saying that things are going to get a lot worse before they get better. $150 - $170 per/b oil has been estimated.
- @davthewave outlook is that we've either seen the bottom or it's very close.
- Large capital flows move the market. No free money today, lack of disposable income.
- Money flew into crypto because other asset classes were expensive. Now you can buy fantastic companies for "cheap".
- Where is the capital going to come from to move the markets? @NickDrakon is buying equities.
- Inflation hurts middle class and lower class the most.
- RE market cap in Australia has a $10 T market cap. Larger than most economies in the world, except US and China.
- All of this liabilities are on the balance sheets of retail and banks.
- The economies are set up in a way where certain asset classes needs to be protected until they are not anymore.
- In an election year US has averaged 28% return a year. We are in an election year.
Tomb Still Off Peg
- Off peg over a month.
- Supply expands based upon where the price is. Above = expands, below = assumption that people are going to play the game and buy bonds.
- There is a point where the amount of money it takes to prop it up is going to be a lot.
- "Look who is backing it" is the main narrative.
- Nobody is buying it, why should I?
- Watch what people do not what they say.
Fantom Gas Is Super Low
- More gas per block, more transactions per block.
- Technical stuff by @justinmsilver.
Scream released V2 in response to V1 insolvency
- Bad debt on the books, held hostage by Lafa and Deus to pay it back.
- Forked Scream and opened up new markets.
DEI or DIE... How does DEUS recover?
- Started redemptions. Small portion of USDC and you can get the rest in locked vDEUS.
- They try to get DEI off the market so that way they can restore the peg and have control over it.
- Not many people buying this stable coin. No confidence. - You can sell DEUS, buy DEI at $0.40 on a dollar, give in your DEI and receive a promise to double the amount of DEUS at some future date.
- The aim is to get as much DEI off the market as possible. When the bonds open it's less expensive to regain peg.
- Lafa moves too quickly, he will break stuff.
- Savior syndrome on $FTM. Key person risk. Andre involved, Do Kwon involved etc. It's a liability.
Beethoven Optimism Launches Today
- Rewards go live tomorrow, 4 pools live.
- Good for fBEETS holders.
Nick's takeaways from @DefiSparks ep 1
- Beethoven team is operating at the highest level of business for a long time.
- They are going to make mistakes but they will make fewer of them.
- Will get big decisions right.
- Natural state of things is to live in a multi-thing world not mono world. Multichains, multi dexes etc.
I highly recommend watching the full episode.