Now that Uniswap does more volume than almost all CEXs, DeFi skeptics have nothing to talk about so naturally they must move the goalposts and go all the way down to Orion’s admin key. Sounds like nocoiners moving goalposts on BTC “flaws” like bad for environment, volatile, etc
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eh I think this is a bit overstated:
Uniswap is #9 or so in overall volume
this would imply a token worth less than UNI most likely.
BUT also:
Uniswap charges 0 fees and incentivizes usage.
If you count transmining exchanges, it's way lower.
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like if I told you "Exchange X, which has 0 fees and uses transmining, trades $400m/day" you'd prob say:
1) if it charged fees and didn't transmine, seems like $500m token
2) given that it does, probably downweight 5x or so
3) so left with a bit below e.g. BitMax
Haha I am not bullish UNI and you can see my tweets where I say they have no shot of taking majority LP fees for token holders. More broadly though this tweet was about DeFi having success ($10b TVL) and bitcoiners, who don’t know how to think critically, have to move goalposts
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