Hello for the first time in a long time from MCC!
We’ve been busy behind the scenes most of ‘22 but wanted to share a quick research note we wrote on the looming bankruptcy of #Bitcoin miners and their outstanding loan debts
Expect more to come soon 😎
middleclass.capital/articles…
Defi hasn't worked thie year because they reached extremely high valuations by April/May. We believe $MIST is starting from a cheap enough multiple to Copper’s potential alone to work well from here.
/13
$MIST’s share of annualized revenue would be $34.7 million, with $17 million going to Aludel stakers, assuming no growth in LBPs on copper going forward. This is almost equal to MIST’s current market cap, and Aludel TVL!
/11
Over the last month Copper has facilitated over $250 million in raises, just using the curated auction list and ignoring all others. With a 2% fee this would have been $5+ million in product revenue, or over $60 million annualized.
/10
MIST voted to allocate product revenue 50% to Aludel stakers, 40% to team members, and 10% to the multisig treasury. The revenue is used to buy $MIST tokens which is how product revenue is then distributed.
crucible.alchemist.wtf/gover…
/8
Copperlaunch recently announced they will be adding a 2% fee on funds raised with that split between Balancer and Alchemist. $BAL and $MIST have also discussed a token swap.
medium.com/@copper_/aligning…
/7
Mist has their own crucible called Aludel v1.5 where users stake ETH/MIST univ2 LP tokens. Current APY is 24% but those rewards increase by 10x if staked for 60 days. APY will be in addition to share of product revenue.
/4
