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Okay, time for another $YFL thread 
Things are really heating up for #LINKSWAP since the last thread, and quite frankly I can hardly believe how bullish it all is.
I believe a sell-side liquidity crisis is coming.
Data below
Things are really heating up for #LINKSWAP since the last thread, and quite frankly I can hardly believe how bullish it all is.
I believe a sell-side liquidity crisis is coming.
Data below
Here’s a breakdown of how many $YFL are locked/deposited in contracts:
V1/V2 governance vaults: 12,803 YFL
YFL/ETH pool (LINKSWAP): 2,387 YFL
YFL/LINK pool (LINKSWAP): 2,736 YFL
YFL/ETH pool (Uniswap): 1,502 YFL
Total # of YFL deposited in contracts: 19,428 (39% of supply)
V1/V2 governance vaults: 12,803 YFL
YFL/ETH pool (LINKSWAP): 2,387 YFL
YFL/LINK pool (LINKSWAP): 2,736 YFL
YFL/ETH pool (Uniswap): 1,502 YFL
Total # of YFL deposited in contracts: 19,428 (39% of supply)
Now, of course this is constantly changing as people trade between YFL and its pairs, but the trend is striking:
People are depositing thousands of YFL each day into various contracts, restricting the circulating supply.
People are depositing thousands of YFL each day into various contracts, restricting the circulating supply.
Here’s something imperative to consider:
Unlike the governance tokens of most other DEXs, $YFL does *not* have an inflationary supply.
In fact, upcoming initiatives like Wafflehouse will actually give YFL a deflationary supply!
Unlike the governance tokens of most other DEXs, $YFL does *not* have an inflationary supply.
In fact, upcoming initiatives like Wafflehouse will actually give YFL a deflationary supply!
Furthermore, starting this week, $YFL will see a steady stream of buy-side pressure.
When stakers withdraw their rewards (in the form of yYFL) from the vault, the smart contract market buys YFL to convert their LINK/ETH tx fees into YFL.
When stakers withdraw their rewards (in the form of yYFL) from the vault, the smart contract market buys YFL to convert their LINK/ETH tx fees into YFL.
LINKPAD ( @linkpadio) will also market buy $YFL tokens on LINKSWAP each quarter using 70% of the fund’s net profits.
Okay, now here’s what causes a sell-side liquidity crisis:
• 39%+ of the $YFL supply is locked (and growing)
• Staking rev + LINKPAD rev creates constant buy-side demand
Limited available supply + constant buy-side pressure = sell-side liq crisis
• 39%+ of the $YFL supply is locked (and growing)
• Staking rev + LINKPAD rev creates constant buy-side demand
Limited available supply + constant buy-side pressure = sell-side liq crisis
Long thread, I know, so here’s the TL;DR:
• #LINKSWAP TVL is growing exponentially
• Launch of staking rewards + LINKPAD create constant buy-side demand for $YFL
• Super-limited YFL supply leads to sell-side liquidity crisis
• #LINKSWAP TVL is growing exponentially
• Launch of staking rewards + LINKPAD create constant buy-side demand for $YFL
• Super-limited YFL supply leads to sell-side liquidity crisis
I’m never one to offer price predictions, but just based on the info in my last tweet thread, it’s clear that $YFL is now *woefully* undervalued.
Read more below: https://twitter.com/yflpepe/status/1337910282253811713
Read more below: https://twitter.com/yflpepe/status/1337910282253811713
#LINKSWAP’s TVL *is* going to pass $50 million by the end of the year at this rate, which will make it the 6th largest DEX by TVL.
Since I wrote the aforementioned thread 2 days ago, its TVL has already increased by roughly 67%.
Since I wrote the aforementioned thread 2 days ago, its TVL has already increased by roughly 67%.
Conclusion:
$YFL is currently resting on a launchpad, fully fueled and ready to fly.
The match that will ignite it will be trading volume, which I expect to see massive growth in the weeks ahead (see previous thread for details).
It’s go time, frogs.
$YFL is currently resting on a launchpad, fully fueled and ready to fly.
The match that will ignite it will be trading volume, which I expect to see massive growth in the weeks ahead (see previous thread for details).
It’s go time, frogs.
