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fiskantes in his true form ⭐️🩸
@Fiskantes
1/ Follow up: SRM: $2
@ProjectSerum
Serum fully diluted val: $20b valuation. SOL: $4
@solana
fully diluted val to $2b valuation. This is obviously result of heavily restricted supply and hype, but it still show interesting dynamics (as I predicted).
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fiskantes in his true form ⭐️🩸
@Fiskantes
1/ IEO of @ProjectSerum SRM ended oversubscribed. SRM price: $0.11 Total SRM supply: 10B Implied valuation: $1.1B Instant unicorn, before mainnet. Last time we have seen such numbers? 2017 Eth killers. But is it justified? twitter.com/SBF_FTX/status…
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toly 🇺🇸
@aeyakovenko
Replying to
@Fiskantes
@ProjectSerum
and
@solana
From a purely engineering risk factor analysis, PoS security just needs to cover the writable state “in flight”. The state that is under reconciliation between the chain and the issuer. Tether doesn’t fork when etheruem forks. AUM can be much larger then chain mcap.
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toly 🇺🇸
@aeyakovenko
Replying to
@SBF_FTX
@SBF_Alameda
and 3 others
We can run the thought experiment with BTC. 1000 blocks get rolled back today, what happens? Do the exchanges take their losses? Do they coordinate the current miners to reject the fork? What if there were 0 transfers on btc for 1k blocks, does that change their actions?
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DegenJulian
@degen_julian
Replying to
@SBF_FTX
@SBF_Alameda
and 4 others
1/2 while this works great on paper, such an act would not just turn social consensus bearish, it would also destroy short-term token prices and create a general aura of uncertainty. The DAO fork caused chaos in a world where there wasn't real competition for ethereum.
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