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Completely agree with this. This is going to be very interesting to see what the “physical representation” really is. My mind automatically wants to say gold, but could that be too obvious? And if it’s not gold, what kind of mind blowing tech are we in for with this? Considering how sweet the $PRIA (SIE) NFT is, it just makes me overwhelmed with anticipation.
Metawhale is a suite of working DeFi protocols providing “self-renewable deflationary and elastic supply assets backed by its own automated self-filling reserves and liquidity.” It is the sole mission to inspire a new era of protocols that can manage inflation and deflation without imploding; protocols that prevent the monopolization of the supply whilst remaining fair to all market participants. “the future of monetary policy is hybrid, complex, dynamic, intelligent. It is both inflationary and deflationary, and attains growth, stability and prosperity to all.” - Metawhale docs https://metawhale.io/docs/ DeFi Labs released their first project PRIA, a perpetual ultra-deflationary ERC-20 token with astonishing success in October 2020. Was able to save the project from a massive scammer clone army that sucked volume out of the unique idea but was able to stop them all with a programmed kill switch in the contract! Metawhale has two native tokens with $MWG and $MWBTC that functions to buy $PAXG (Gold) and $renBTC in their self filling reserves, as well as buying and locking away its own liquidity. https://team.finance/view-coin/0x45128CB743951121Fb70cb570c0784492732778A?name=METAWHALE%20GOLD&symbol=MWG Metawhales also buy $PRIA for reserves that gets 20% distributed to Pria air drop address, as well as 70% distributed to dividend bearing NFT holders. More info on that here https://metawhale.io/docs/METAWHALE/NFT_Dividends Metawhale is providing an ecosystem unlike anything we’ve seen before
While technically you’re unable to HODL in the traditional sense, and they may not need 5 years to make you a millionaire, I would put them into DeFi Labs protocols. Since I’m practically breaking all of your rules by not providing one token I will do my best to make up for it with details. While I’m not providing you with one token , I feel this is maybe a step in the direction of diversification, if that is of concern. DeFi Labs has released the newest creation in Q1 2021 called Metawhale and is a suite of working DeFi protocols providing self-renewable deflationary and elastic supply assets backed by its own automated self-filling reserves and liquidity. Of the Metawhales, you have $MWG protocol that buys $PAXG thus backing itself with a reserve of claimable gold. Participants have the ability to claim their portion of the reserves reflective to their $MWG holdings. Mind you, at this time, all participants still holding will have a fraction on 1 $MWG. For every buy/sell/transfer not only goes to buy assets like $PAXG for the reserves, but also goes through a hyper deflationary cycle. Burning all of its supply (roughly 1.25 million at “fair launch”) tell one is left. It accomplishes this through rules written in the protocol that “force sell” >6% every 35 days and a 100% burn mechanism after 4 months on inactivity of any address (hence the unconventional HODL). After Metawhales reach 1 supply participants have 35 days to claim their %age of reserves. If you hold .01 $MWG then you can claim 1% of reserves. $MWG already holds $180,000 worth of $PAXG since its launch January 28th. I must also point out that the protocol is buying and locking away liquidity meaning that as these protocols move forward through time, we see both the gold and BTC reserves rise as well as the liquidity locked. Providing an ever rising price floor that should eventually allow for Metawhale price speculation to follow in accordance. There’s also $MWBTC which works similar to $MWG, but buys and stores $renBTC in its reserves. It even has an interesting twist to it that actually burns $BTC helping to lower supply. Meaning, more $BTC scarcity....price go up. Last but not least is the protocol that helps tie all three tokens together. $PRIA is a fully automated and decentralized digital asset that implements and manages a perpetual ultra-deflationary monetary policy favourable to inflation arbitrage by market participants. It accomplishes this through an elastic supply that starts at 100,000 supply, ultimately burning itself down to 1.2. It then will reverse the primarily deflationary cycle with an inflationary cycle that mints back up to 100,000, living in perpetuity. Without going into much more details, i recommend reading up on all docs before participating due to $PRIA also having force participation to prove active address through a burning mechanism that can be called for inactivity for more than 35 days. Opposite of the Metawhales, $PRIA requires buys or transfers (you can transfer to the same wallet) and doesn’t require a minimum for resetting timers. However, on the PRIA dashboard you will find a perk to purchasing the minimum requirement that qualifies buyers for an airdrop so might as well right? I’m going to stop here for there’s still much more to explain since this is an ecosystem that works with and for each other, providing a sense of diversification with multiple assets, including gold and BTC, as well as dividend bearing NFT’s. Again, so much more here and these are just getting started. So to simply put it. Where am I putting my $10,000 into to make me a millionaire within 5 years...? Defi Labs. If your still reading this, thanks for your attention. Cheers
I saved your comment, thinking I might learn something, but nobody knows apparently. You might be a pioneer. You should check derivative of gold and what people do with it. PRIA for example.
One big reason would be the fact that the token holders will all get a portion of the Bitcoin reserve at the end of a cycle, relative to the proportion of the mwBTC supply that they own. A second reason would be the NFT dividends that will be sent out for participation in the protocol (with some novel ones, such as augmented reality NFTs). Another reason would be that there are powerful and wealthy groups out there that have an interest in seeing Bitcoin die. I suppose it’s possible that the token never blows up, and nothing much comes of the protocol. But the dev has a pretty solid track record with PRIA, and if the project does take off there might not be any stopping it as the power to really disrupt the entire crypto market is definitely there