#37 @CamelotDEX ’s latest launch @nitrocartel $TROVE

coming on 17-20th Feb + my🐑 thoughts on it

#37 @CamelotDEX ’s latest launch @nitrocartel $TROVE

coming on 17-20th Feb + my🐑 thoughts on it

📍In this thread

1. What is $Trove

2. Launch & public sale detail

3. ⭐ What lambro is thinking

But first Check out my sponsor @pendle_fi launching on camelot soon too!

Pendle @pendle_fi

GM, Pendle is now a knight of the @CamelotDEX Round Table! PENDLE/ETH pool is already LIVE and incentives will start tomorrow - 5pm UTC, 14th Feb ⚔️ Through the Kingdom of Camelot, Pendle will settle as one of @arbitrum’s own💙🧡 🔗app.camelot.exchange

📍What is @nitrocartel & $trove

Nitrocartel is a yield-bearing index & strategy vault protocol focusing on arbitrum network and trove is governance token of "arbitrove" the index part of nitro cartel

• The first dex token is "ALP" with tokens from image

• In future, they plan to add ecosystem-specific indices like the GMX Ecosystem Index, GameFi Index, and strategy-specific indices etc

• Their first index token ALP wants to become a collateral asset across arbitrum

• $trove Token utility - governance of arbitrove of nitro cartel

📍Tokenomics

• Liquidity mining - 22% releasing gradually over 8 years to incentivizing users

• xGRAIL airdrop - 1% gotta love @camelotdex

• Treasury 9% - 6% of it will be used for protocol-owned liquidity

• Fair launch 20% - launching on camelot

• Liquidity mining - 22% releasing gradually over 8 years to incentivizing users

• xGRAIL airdrop - 1% gotta love @camelotdex

• Treasury 9% - 6% of it will be used for protocol-owned liquidity

• Fair launch 20% - launching on camelot

📍Public Sale Details

• Platform: Launchpad of Camelot DEX

• When: 17 February 2023 at 14:00 UTC

• Until: 20 February 2023 at 14:00 UTC

• Chain: Arbitrum

• Accepted currency: ETH

• Starting TROVE price: $0.0025 per TROVE ($750k MC, $2.5m FDV)

• Allocation: 200,000,000 TROVE (20% of total supply)

• Total max supply: 1,000,000,000 TROVE

• Min/max allocation: None

• Hardcap: $0.0125 per TROVE ($3.75m MC, $12.5m FDV)

• Vesting: None, 100% unlocked

📍What lambro is thinking

🔹They are raising 0.5m-2.5m depending on the fair auction.

🔹Assuming it will be sold out, 3.75mcap

✅Most people got in the same price, initial circulation are xGRAVIL airdrop, fair launch, treasury & POL

✅There are quite a few different index protocol but i haven’t seen one for arbitrum yet

🔹Most mcap of index are not relatable because its based on ALP, the actual index but not that governance of the protocol

🔹closet reference index cooperative

🔴11m mcap with 60m tvl

🔹token price seems to be correlated to TVL

🔴What is the staking reward of $trove and where does the yield come from?

🔴Strategy yield should go to ALP? so its fee for managing all the ALP?

🔹Nitro Cartel passport 390 item = 33% of token supply assume 12.5FDV, floor price of 3.65ETH right now.

12.5m*33%/390 = 10,576 USD worth of estrove.

Is the NFT underprice or $trove valuation over price (do take note nft = estrove not trove)

🔴Nitro Cartel NFT holder distribution

📍Summary

I am overall bearish on index tokens in general, nothing against the nitro cartel. However if it starts to be the collateral asset for lending, that will be a totally different case.

I'm not sure what I'm going to do with this launch. I might decide when the time comes closer. Given the hype of @arbitrum & @CamelotDEX im 50/50 on this, might just sit out.

Thanks for reading y u no like & no sub