Read on Twitter
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)
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
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
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
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
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
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
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
