The Markets are falling? Bitcoin can’t keep
its head above 50k?? Well it’s going to be a tough battle at this level, it’s a whales game.
But in the meantime, we can do what Chico does best & research some altcoins. Some of the more
unknown ones. Like lower cap. You ready for Chico’s altcoin mysteries? Well you don’t have
a choice. Because it’s time for Chico Crypto! Altcoins, Altseason, DeFi, Layer 2,
NFTs…it’s becoming a lot to handle. Thousands upon thousands of altcoins.
All claiming to be the next big thing, but a vast majority of them won’t even make a
little dent in gaining a sustainable user base. Unless they are doing something
different…combining an altcoin, defi, layer2 or NFTs to create something
never done before, that benefits the users. What type of altcoin are doing that?? Well
Today, Chico is going to something a tad bit different…we are going down into the depths of
the altcoins.
The place where there are many fish in the barrel, and finding a winner is like
shooting a golden bullet into that barrel. Majority of the time, you won’t find one..
but I like to think my research is a tad bit better than others in the space,
but even with my years of research, there is still major risk with microcaps
.. that is why I never risk a significant amount into these…always keep it small,
and expect to lose the investment….microcaps get micro-investments from me, if I lose
it all, it doesn't kill & if its a winner, shooting up in market cap ranking, you
still get a sizeable of the winning pie. So let’s begin, with the highest market
cap of around 50 million & on page 4 of coingecko. Lots of room to grow
with this coin in my opinion, as you need at least a 150 million dollar
market cap to be on page 2 of coingecko. And I think this project deserves to
be up there.
Who am I talking about!? That sticky BUN BAO. The hype has settled
down from BAO….it had a stellar release. Going from a super small microcap in the
single millions to peaking at 100 million. I said during the hype when it was
smashing towards that 100 million mark, it would eventually settle down as it was
like perpetual protocol, it had a great layer 2 idea. It just needed to execute to that layer
before that famed 100 million would be crossed.
And BAO is executing! The xdai pools
are being deployed, a few minors bugs, but as we can see from the BAOman’s
mouth, “Block rewards were pushed back one more day but the farms are working
and stable. User deposits can start now…. Yes, the crops are ready to be farmed on
xdai. They are moving exactly as planned, and the movement isn’t only being seen by
me. You guys should know BAO is within the Sushi ecosystem confirmed to be a project
secured in their ambitious 2021 roadmap. Well if you remember, the Sushi drama over the
summer of last year…the project almost failed, but guess who snuck in to save
the day. FTX and Sam Bankman Fried…..so FTX and them are
connected & this proves it even more. Sam noticed BAO yesterday….he tweeted
that bunch more coins were added to the FTX exchange as collateral for spot
trading. Included is of course BAO. BAO connected to Sushi, Sushi connected
to both yearn and FTX. They are planning something special and let me tell you the
foundation is set for a sushi supported synthetix protocol on Layer 2 & all
se can say is bao chicka wow wow! But what about doing that right now?
Trading of synthetics on xdai’s layer? Well that leads us into the next pick.
Which
is just a 15 million dollar market cap. That is DEUS finance. The DUES announced 48
hours ago this on twitter “MAJOR NEWS: #DEUS is officially launching its decentralized
trading platform in the next 48 hours. You will be able to trade hundreds of stocks, forex and
selected cryptos on xDAI without Time restriction! So that should be launching today, getting synthy
with it on layer 2. I shot this video yesterday, so the synthetics version of their app was under
maintenance, but as we can see TVL is almost 40 million.
And I wouldn’t doubt, TVL will grow
with the launch of a scalable synthetic platform. As they have been trading
pre-spacex IPO synthetic already for some time. Hopefully the go-live
runs smooth for the other synthetics!! And now, we get to the bottom of the
altcoin barrel, the true microcap. The one that isn’t even in the top 1000
on coingecko. Now, I wanted to cover this one yesterday, with my NFT video, but I was
unsure, and needed to do more research…wish I could of done more, because the coin was over
300 percent even when I made my first purchase.
That is NFY-Non Fungible Yearn. And
as of yesterday, it was ranked 1252 on coingecko & up oh so significantly. Why would take a small dive into a coin that is
up so much? Well it’s still under a 2 million dollar market, and it’s doing what Chico
likes. Taking NFTs and applying it to DeFi.. Going to their website and application, they
say they are the 1st DeFi protocol to utilize NFTs to make yield farming more secure & flexible by protecting the wallet & allowing
the first transferable stake. What this does is creates an eco-system where
instead of a wallet address that represents a right to stake, an NFT will represent the right
to the staked funds and the yield they generate. So you'll be able to trade your staked
tokens and future yield via an NFT. Basically, it Turns yield bearing defi liquidity
pools into NFTs. Which creates many possibilities. Like pre-baked and ready to go yield farming
NFTs for the person, who doesn’t want to farm. Yield bearing gaming NFTs, Art pieces that
earn yield and so much more I can’t even think of…you are giving NFTs underlying
value.
DeFying the masses And its’ live, it has been since January 7th in
its current form. The application is ready to go. The staking and unstaking with NFTs and
the DEX for trading the tokenized stakes. So, who exactly is behind NFY, non fungible
yearn? Well I want to go to this twitter profile, not_cyotee. They were the
one who tipped me off on NFY yesterday through research on twitter. Yes
I use twitter for some of my research…. He tweeted this in reply to a fomosaurus
posting this meme, about Yeild bearing NFTs. They said “You know I'm bringing @NFYFinance along
with our relationship through Olympus? @JeffExtor is onboard, and he invented NFT yield earning
bonds. $NFY was literally the first to do this. So the DEV is public, it’s Jeff Extor who was
the first to create yield bearing NFTs with NFY and going to his linke’d in, he is a
solidity DEV from the greater philadelphia area! Public Developer is a good sign, as there
is accountability if something goes wrong! So the hype is strong with this ONE as it has
first mover advantage…but I want to go to this tweet from another NFY researcher on twitter.
Brian Beach.
They said “All this buzz around NFTs and $nfy needs to pamp. You can stake and trade
#nfy and you can trade stake as an nft. Governance contract is releasing next week and the contract
for project integration is set for mid March. Woah, so next week a governance contract and
mid march the project integration contact so it can be spread throughout
DeFi? Can we confirm that?? Kind of…going to their discord, their
is developer JEeff Extor, and he said this February 17th “Governance contract
is planned to be deployed early next week! Contract that allows for project integration
is in the works and planned for mid-March” And then he said this the next week, last week “Governance is coming soon! There have been
some delays and had to get pushed back!” Soooo they have first mover advantage with the
tools to create many types of yield bearing NFTs, but also a DEX for trading those, and then they
have big roadmap stops coming in March.
In my opinion, this could be a recipe for microcap
success. So, even with the recent surge, Chico had to take a small risk with NFY.
Like every microcap we get into. A small risk. The same went with BAO, the same
goes with Dues, and the same goes with NFY. Microcaps get microinvestments.
Cheers I’ll see you next time!.
