Raised 12.6m but only took 200k and returned it back to investors ?
Potentially the first dominate solidly fork on Polygon?
Raised 12.6m but only took 200k and returned it back to investors ?
Potentially the first dominate solidly fork on Polygon?
Meet SatinExchange
📍In this thread
1️⃣ What is Satin?
2️⃣Satin follow on Sale
3️⃣Lambro’s Summary, thinking & speculation
1️⃣What is Satin
🔹TLDR
🔹Key highlight of Satin exchange
🔹Satin yield distribution & fee model
🔹Traction so far
🔹Tweets from friends
🔹TLDR
Satin is a Solidy fork using $CASH (yield bearing stable by @Stabl_Fi) for LPs, achieving a higher capital efficient LP attract deep liquidity.
🔹Key highlight of Satin exchange
Satin exchange is a solidy fork built on @0xpolygon, supporting stable swap and uniswap v2 swaps.
Instead of stable coin for LP, it uses a yield bearing stable coin $CASH allowing LP to earn trading fee +yields from $CASH (low risk stable coin strategy) Giving LP a higher capital efficiency
$SATIN/$CASH LP can be locked into veNFT ($veSATIN) earn yield they voted for
Claimable $CASH rebases in veSATIN (earn stable yield while boosting LP yield)
Low fees Stable 0.01%/ Volatile 0.2%
🔹SATIN yield distribution & fee model
$SATIN is the governance token, users can $Satin/$CASH for $veSATIN for boosted yield
There are Main Pools & Partner Pools on @Satinexchange
For Main pools
90% trading fee to veSATIN holder
10% to treasury
For partnerpools
65% to veSATIN holder
25% to Partner’s treasury
10% to treasury
🔹Traction so far
They did a “overflow model” sale for 200k but got 12.6m attraction.
Overflow model meaning users can deposit the amount they wish to invest in and receive allocation based on the % of it to the total committed. Additional funds was return to the investor
So far they have partnership with
@0xPolygon @GainsNetwork_io @KlimaDAO @staderlabs @LidoFinance @beefyfinance
info from @0xShinChannn
🔹Tweets from friends
I am late to the party. Here are some of my friends that did great threads on them. Give them a follow if u aren’t already!
@Only1temmy
@ViktorDefi
2️⃣Satin follow on Sale
Start time: 00:00 UTC March 1st, 2023
End time: 2359 UTC March 4th, 2023
Duration: 4 days
Vesting: 12 week linear vesting
Expiry veSATIN airdrop for all participants in the amount of 1 veSatin for every 2 $SATIN secured
Expiration after 12 weeks
Tokens for sale: 895M $SATIN
Token Price: $0.0008
Total USD Value: $716,000
Raise valuation: $20M
Launch valuation $25M
🔹Tokenomics
Total Supply of $SATIN is 25,000,000,000 tokens.
Vesting not clear
only got trust me bro 1 year linar from discord
3️⃣Lambro’s Summary, thinking & speculation
🤔Utility, Hard Market Demand (not Sure)
❌Valuation (a bit expensive)
✅Speculation (doable)
🤔Investors profile (cant check)
❓Metrics to monitor
🐑Summary
Like/retweet this if u got to here so more people can read this!
🤔Utility, Hard Market Demand (not Sure)
Basically can't check is there a "need" for the token since its a farming uility driven token. it will depend on the trading volume &fee.
❌Valuation (a bit expensive)
Comparing other solidly exchange
@VelodromeFi
MCAP 36M FDV 172.5M TVL313M
go to solidly farm on OP #optimism
@ThenaFi_
MCAP 49.69M FDV 49.7M TVL 155.18M
biggest solidly farm on #BNBChain
@solidlizardfi
MCAP12.4M FDV12.4 TVL89.24
recent degen farm on #Arbitrum
@Equalizer0x
MCAP3.1M FDV39.8M TVL44.37
#FTM solidly with some traction
✅Speculation (doable)
First solidly fork that got traction
New less competitive battlefield compare to arbitrum & FTM
Polygon dex trading vol is not bad its actually more than OP
❓Metrics to monitor
● Dex volume
● Liquidity pool depth
● $SATIN fee & emission ratio change when they launch.
🐑Summary
I am not sure about $SAINT
it can be a hit or miss. I like the narrative of “first” on polygon but FDV 20M valuation might be a bit high.
With an Anon team and without clear indication on emission or vesting schedule on their gitbook is very hard for me to ape in.
If i were to go in i will check the emission and the $veSAINT airdrop from taking part in the public sale depending on how much edge i can get to in early farming with those $veSAINT
I can’t comment on best strategy to investa without knowing the initial mcap.
If u are looking to ape farm pls note weekly emission is 1.2% of total supply) with 2% weeky decay.
its very aggressive but still might be a profitable farm n sell strategy for short term.
As for long term i will keep an eye on the metrics to decide in future
If you read till here Give me a like and a comment! keep me going, tired af writing so much!