dharma

@dharm

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18 Followers

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IMO these are paltry valuations compared to what might be should they start getting attention post-launch. Of course plenty of risks between now and then (they have not launched, and are in a guarded beta) which might explain. Appreciate feedback, critiques, etc.

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Today TOKE currently has a MC of $38m (FDV is closer to $100m) However there is $33m in TOKE's treasury today Link to treasury holdings: https://t.co/eZH4k4cI9o

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https://t.co/yQ7glEtg5U

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Pleased to see the Tokemak team are making clear and regular communication on their progress. Latest community call was on April 3rd. TLDR - the roll out, audit and phased roadmap of Tokemak v2 is progressing as planned:

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Autopilot and Liquidity Marketplace are 2 distinct products and I see them as symbiotic but also mutually exclusive: even if Liquidity Marketplace doesn't get adoption there's a huge amount of value in Autopilot. Nice strategy.

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What Tokemak are doing is giving a deterministic outcome to how much liquidity DAO's get per deposit they've incentivized. Sounds cool.

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Why will DAO's want it? It's replaces the gauge voting model where incentives are first voted on & only after does LP demand gravitate towards a pool. Problem is the liquidity depth of that pool is guesswork. DAO's never know how liquidity will play out until well after the vote.

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Why will LP's want it? Simple: APRs vary wildly over time. Tokemak's model ensures the autopilot will outperform any of the individual pools.

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Tokemak V2 has 2 separate products: 1. Autopilot: for LP's to dynamically allocate to the best yields 2. Liquidity Marketplace: for DAO's who want to rent liquidity with a fixed (transparent) market price for that liquidity

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Great explainer on the overall concept here: https://www.figma.com/proto/XXveJKkpeZSBpKwCY1yKWD/Diagrams-and-Explainers?kind=proto&node-id=310-3938&page-id=308%3A144&scaling=min-zoom&starting-point-node-id=310%3A2153&mode=design&t=Zm82qbTSN2C4aIcU-1

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Quick thesis on @tokemak Tokemak is one of the somewhat forgotten protocols of the 2021 DeFi cohort, but are stealthily rebuilding their value prop and on track to deploy Tokemak V2.

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200K sign ups! 10x since going permissionless in October.

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