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OK, that was quick, time to drop it.
@PenserETH was correct, I was thinking about @terra_money. I honestly believe its still one of the most underrated ecosystems.
Thread why:
1. Terra is an app specific chain built on Cosmos. It started as a stablecoin app-chain and now branches into other venues. Where it differs from the rest of crypto (which is largely inward facing) is its focus on outward outside “irl” use cases.
2. Terra stablecoins (mainly KRT) enable cheap online payments, undercutting the incumbent payment providers by 60%. Via mobile payment app CHAI, KRT is now used by actual retail consumer to pay for stuff online.
3. Until now, the tx volume facilitated by terra is 370M USD, most of it in e-commerce in SEA region. And the fees are accruing directly to LUNA (Terra native token) Stakers and Delegators.
4. This makes Terra one of the best cashflow driven projects in crypto. Not only because it has relatively attractive “P/S” ratio (currently 22, but was below 3 not so long ago!), but also because its success is not dependent on crypto speculation but usage outside of crypto.
@PenserETH was correct, I was thinking about @terra_money. I honestly believe its still one of the most underrated ecosystems.
Thread why:
When I hit 5k follows I will drop \u03b1(lpha) thread on one non-Ethereum DeFi ecosystem I am using quite often now and am very impressed by.
— \U0001f0cf\u03b1lph\u03b1ntes (@Fiskantes) December 28, 2020
Hope it won't happen too fast, I am not done accumulating.
1. Terra is an app specific chain built on Cosmos. It started as a stablecoin app-chain and now branches into other venues. Where it differs from the rest of crypto (which is largely inward facing) is its focus on outward outside “irl” use cases.
2. Terra stablecoins (mainly KRT) enable cheap online payments, undercutting the incumbent payment providers by 60%. Via mobile payment app CHAI, KRT is now used by actual retail consumer to pay for stuff online.
3. Until now, the tx volume facilitated by terra is 370M USD, most of it in e-commerce in SEA region. And the fees are accruing directly to LUNA (Terra native token) Stakers and Delegators.
4. This makes Terra one of the best cashflow driven projects in crypto. Not only because it has relatively attractive “P/S” ratio (currently 22, but was below 3 not so long ago!), but also because its success is not dependent on crypto speculation but usage outside of crypto.