Given this is one of the hotter narratives out there in crypto, I thought it would be worth putting together some examples of real vs. unsustainable “yield” or revenues in crypto across some of the major + most shilled projects (and how to research it yourself). Tomorrow I will also be releasing a guide to the merge, while Friday morning I’ll be posting another project deep dive. Side note: if anyone is looking to work with me on anything (advisory, collaboration, sponsorship within the newsletter, etc) feel free to reach out to me at firstname.lastname@example.org.
Nice one, thanks sir! Could you please dive into new BTRFLY?
great post, this the helpful stuff for me
Hi Mr Wizard,
As usual really enjoy your work.
But I was looking at GMX and like you say always do your own analysis.
GMX has grown 12% since Sep last year, this equates to about 117,272 tokens per month (an increase from 6.41m to 7.7m in an 11 month period) which when multiplied by its price comes to ~$4m dilution PCM.
When we look at the revenue generate in a month it is $1,895,718
(this is calculated by looking at total revenue generated $6.3m over a month and then taking 30% that is allocated to GMX users) this is a net loss of ~$2m PCM.
Surely this means it is not generating real yield, or am I missing something?
Honestly, this is the best publication I've seen since the real yield narrative began. Thank you very much sir.
This is what I need more clarity; On the Dydx example, how you get in quote "90 days ago the total circulating supply of the sum of these tokens was ~115mm. Today it is 149mm"? I can't find circulating supply information on the supply schedule except indication of the token allocation.
Anyone who knows how he arrive at that should please help me. I've tried checking other options on the site yet can't figure out. Thank you 😊
Would love to see what you think of https://www.sphere.finance/ . I feel that they are in the category of real yield. Their goal is to build products that they hold a good portion of governance tokens on, and use the revenue to buy and burn the main token. They are a low cap token with a 11m treasury yielding 123k+ a month from farming. They've built so far a Dystopia and Penrose, basically curve and convex with better tokenomics with 18m and 15m in TVL, and they are taking those products cross-chain. First stop will be Binance releasing end of this month than Avalanche, and in talks with other major chains. Also will be releasing Preon a borrowing and lending platform where you'll be able to loop on stable LPs, and little-star which will boost the yields(not much info out yet on both). Also building Dyson farm a cross-chain yield auto compounder. Theres more to cover but i'll let you DYOR if this sounds interesting. Each product will have a bot that will use the products revenue to burn and buy the main token, sphere. This is all in a span of 4-5 months, so the team is incredibly fast at building.
Thanks a lot for your content.
Just got into a project called grizzly.fi
It's a swiss engineered project based on BSC and provides stablecoin liquidity mining etc.
Would be interesting to know from you what you think of that, as it's built very well in my opinion. They just launched yesterday after 1.5 years of building.