thread on why i was wrong about $YFI and some stats and thoughts to show why i am now bullish about it https://twitter.com/DegenSpartan/status/1313706674184544257

1) on chain yields are looking great now and will likely stay high in the double digits for a long time as people are no longer are dumping farmed tokens anymore - everyone hodling them to the moon

2) vaults AUM are growing strongly ($205M in yvaults now vs $400+m last month)

3) "cash flows" narrative is strong and mathematically makes a lot of sense

great yields * big AUM * (whatever fees YFI charges) = lots of cash flow for the YFI holders!

its just simple math

4) vaults v2 are coming and AUM will increase even more as people absolutely know what v2 does and how it helps

v2 should also mean its better than v1

simple logic

5) but wait, "it's not only about yield farming"

of course not

there's governance that everyone loves participating in, and all their other products that everyone else uses, that contributes so much to those cash flows now and in the future

like erm... yOtherStuff

6) i am long YFI because i am long human innovation and ingenuity of the YFI buidlers and community

i am not short YFI because that is the doom trade and being bearish instead of being positive

positive vibes only

7) also, i am bullish because YFI is a "blue chip"

what's a blue chip?

im not sure, but a few YFI holders have repeated that a few times, so it must be true and it must be a good thing

imagine not having long exposure to defi "blue chips" i'd fucking necc

8) market is clearly overly bearish on defi and not overly bullish anymore on defi

big money like JPM and blackrock and microstrategy and PTJ have yet to allocate into YFI yet

trillions of dollars of fiat that exist in the world
only 30,000 YFI

you do the math

9) if you don't believe it or don't get it, i don't have the time to try to convince you, sorry and have fun staying poor