NFT ALTCOIN “Experiment” Is Destined for the MOON!!!

Markets pick back up right on schedule, but 
Bitcoin is still trying to figure out where it’s   going to go. Yesterday pressing back towards $60k. 
What does that mean?? Altcoins will start surging!   Out of the top 100 coins yesterday, over 24 
hours, 33 altcoins had better gains than BTC, aka   one-third of the top 100 were performing better! 
Obviously this signals, altseason’s still here, it   never left…you just need to know where to look! 
Well look here because it’s time for Chico Crypto In crypto, knowing where to 
look is difficult because   everything is extremely murky. 
Sifting through the dirt is hardwork,   and that is why Chico crypto is a research 
channel, we are all about pulling out the   shovels and digging into the astroturf of the 
internet to find things that aren’t visibly clear.

Why do we do this?? Well like SIR joe 
dirte this channel’s personal idol….. Sooooo you don’t necessarily have too 
& today we are going to get deeper than   kanye west trying to understand fishdicks. 
Today, we are talking about Geysers. No not   the type of geyser that comes out 
of the earth like at Yellowstone,   I would know I’ve lived there…but 
Geyser as in an ethereum smart contract… Going to the host and creator of 
these, ampleforth’s website..they   say “Ampleforth Geysers are smart faucets that 
incentivize on-chain liquidity. Users receive   AMPL for providing liquidity on automated 
market making platforms (AMMs) like uniswap.   The more liquidity you provide, and for longer, 
the greater share of the AMPL pool you receive” With 4 active geysers on chain.

Providing solid 
APYs due to the geyser AMPL reward features. But   these geyser’s are all using v1 smart contracts. 
Geysers are getting ready to go into v2!! And that ampleforth team, just had some office 
hours discord of which the team got transcribed.   This question was asked by the community. 
I’m hearing lots of chatter of AMPL with   Alchemist. Having the ability to keep 
your LP tokens. I see that Alchemist   is built on Ampleforth Geyser Contracts? 
Anything you can elaborate on? NFT related? Of which Brandon Iles, co-founder, engineer & lead 
architect of Ampleforth answered. He said “Oh yeah   great find! That’s a sneak peak of geyser v2, 
coming in the next round. Since this is new code,   we thought it would be a good idea to test 
it out beforehand in a smaller-stakes area   before the real-deal launch, When we launch for 
AMPL, we want to make sure it’s completely solid,   given the dollar amounts involved. 
Even though the code has been audited,   it’s larger and more complicated compared 
to the old one.

This trial has already   uncovered an issue that slipped past everyone 
before. So mission accomplished thus far.   I’ll elaborate more on the NFT side 
for another NFT question I see” So did he expand upon this??? This NFT 
side?? They did! There was a question…”If   Ampleforth implements NFT’s in the way 
that I think NFT’s should be implemented   (as financial products) and not 
memey gifs for 20 ETH I will cry.” Brandon replied “I think being excited 
about NFTs is a bit like being excited about   linked lists. I get excited about 
linked lists, but… I’m weird right?   We see real possibility for utility using 
this data structure, and I can’t wait to   see where it goes with the next geyser. As 
far as NFT-art… It’s easy to make fun of it   and brush it off.

I’m inclined to do that for the 
most part, but I think the concept is actually   philosophically complicated enough that it 
would warrant a whole podcast to get across” Brandon sees value in NFTs by linking things, 
and he can’t wait for the next Geyser to see   where to go with this. He also sees 
the value in the art side of NFTs.   Hmmm NFTs with alchemist coin are 
of course built with Geyser v2,   but they create an NFT which links your stake to 
multiple LP programs.

And the minted NFT crucibles   are getting a touch of art, art competitions 
going down in Discord as I speak… So did they expand any more on NFTs 
in the office hours. Well one more   question was asked. The important one that 
leads us where we want to go. “Do you guys   think staking across multiple geysers 
via NFT will be possible some day?” Brandon replies “Yes. Geyser v2 has a new 
architecture and a component that we call   “Universal Vaults”. This is the part 
represented as an NFT. The idea is you   can use the same LP tokens for multiple programs 
simultaneously by locking them in the vault once.  If this idea gets traction, I can potentially 
see it becoming standardized or built into   normal crypto wallets as an add-on feature. 
For that we’ll have to wait and see what the   traction is though.

Hat tip to @thegostep 
for being the main dev here, by the way!” We all know the thegostep, that 
is Stephane on twitter, the one   working on this experiment called alchemist 
coin, he announced it on twitter. This is   Geyser v2’s universal vaults, they 
are testing and experimenting with   if it gains transactions, it will be 
standardized and built into AMPL and beyond. But there is more to this alchemy story, 
and we are going molten core deep soon,   but since we're talking about Ampleforth, 
the first rebase token to gain popularity,   it’s time for the sponsored content of this 
video, supported by the team at Benchmark   protocol, and like always the full details of 
our agreement can be found in the description. A Rebase token…Rebasing or elastic and 
a changing supply token.

That is what the   Benmark’s MARK token is all about. It’s a 
concept that ever since Ampleforth deployed,   has gained huge amounts of following 
and traction within the crypto space.   Target prices and equilibrium is found by 
expansion or contraction in the tokens supply. So how does Benchmark protocol improve upon 
this? Well first we need to understand ample   and how it differs. In Ampleforth, the monetary 
protocol automatically adjusts the supply of AMPL   across all user wallets based on price.This   means the number of tokens owned changes based 
on market conditions. When price is high wallet   balances automatically increase. When price 
is low wallet balances automatically decrease. And Ampleforth is trying to track 
the US dollar, it's a stable rebase   token , which creates a very specific 
inflation risk profile for the asset. MARK has a global inflation risk 
profile, as it tracks itself to the SDR,   or Special Drawing Rights, 
a unit of monetary account   created by the IMF.Going to the IMFs website 
on the SDR it’s composed of 5 currencies,   with different weights.

The US Dollar, 
Euro, Chinese Yuan, Japanese Yen, and   the Great British Pound and as we can see as of 
yesterday, 1SDR, is about 1 dollar and 42 cents! The target price of 1 MARK is equal 
to 1 SDR, 1.42 cents right now.   Deviation of the market price of MARK from the 
target SDR price triggers a supply adjustment   or rebalance. This adjustment is applied as 
percentages over a dynamic smoothing period. And now here is where things get 
fun with the BenchMark protocol.   Benchmark also rebases or adjusts by tracking the 
movement of the VIX volatility index on CBOE.

The   daily change of the closing price of the VIX 
is layered into the rebalancing algorithm. What is the VIX on the chicago board options 
exchange CBOE? The most frequently traded,   exchange listed volatility futures contract 
in the world built around the S&P500 & also   known as the fear index. But you shouldn’t 
fear it, as it provides market participants   the opportunity to trade their view of the future 
direction of the S&P 500 index. Up or down.   If the VIX value increases, it is 
likely that the S&P 500 is falling,   and if the VIX value declines, then the S&P 
500 is likely to be experiencing stability. So how does this affect MARK tokens? Well 
when the VIX in traditional markets increases.   The total supply of MARK increases. Increasing 
supply when traditional markets are down in the   S&P. Why is this done? Well an increase in the VIX 
usually indicates an increase in selling pressure.   If an asset is scarce during such periods, asset 
prices can be manipulated by a few bad actors.   To counteract that risk, the 
protocol adds more units of supply. Thus MARK adjusts the network supply,   to meet the demand of the markets. 
The Markets need a stable asset,   when things are falling and it wouldn’t be good 
if the stable asset they needed wasn’t available!! Like, I said, Mark and the benchmark protocol 
provides many benefits over other stablecoins   and other rebase stable assets.

Elastic, 
Global Currency Peg, no collateral,   volatility adjusted rebase, inflation 
shielded, public team, and a fair launch! And, don’t forget about the Benchmark liquidity 
mining program called the PRESS. Putting the   stable assets to work! Two live and solid Uniswap 
LP pools, with crazy APYs of 250 percent plus.   They have Balancer pools, with very respectable 
APYs too and even in app staking with Xmark.   But right around the corner, 
if we go to their roadmap,   we can see the p2p marketplace is the next 
deployment. This will be their peer-to-peer   lending service, where a lender creates a 
Marketplace contract through the Benchmark   interface and defines the conditions (such as 
the lending out of tokens, the loan ratio, etc)   for their loan offering. This means a single 
loan offering can serve many different borrowers,   as long as the created Marketplace contract holds 
enough tokens to provide the loan. And guess who   just partnered to add their tokens to this when it 
goes live…one of my favorites.

Ocean protocol! So, if any of this fits your fancy,   you can get based by checking out 
all the Benchmark links below!! Now, let’s finish it off with making those 
deep connections that no one has seen regarding   alchemist coin! We understand how close 
this project is to Ampleforth…well   those connections are deeper 
and clearer with this news! Captain Haddock on twitter tweeted this 
3 days ago. Today, @thegostep announced   that @AmpleforthOrg 's Architect Simon he meant 
Brandon Iles joinned the team of Multisig signers   of the Alchemist project. With a picture 
from Discrod of the gostep announcing it. Haddock continues, Other signers. 
Are SushiSwap 's developer   0xMaki and Fiskantes! 0x Maki why is this 
important they are involved? Well just go   back to the gosteps announcement tweet, and 
the example of how to use the NFT crucible,   he shows Sushiswap LPs as one of the possible 
LPs you could multi stake in concurrently. Maki a multisigner, it’s already 
there as an example.

Sushi will   more than likely be an option for the crucibles! So, I knew the blend of NFTs and DeFi was 
coming, and I’m always down for the ride,   but I wanna finish this episode off with what 
Fiskantes said, other multisig that was mentioned.   He tweeted “Disclaimer: Its true I put my 
reputation behind it as a multisig holder. That   being said, there are no promises, just a wild 
experimentation ahead of us.

This is a trip to   alternate dimensions, not just simply to the moon. 
Anything goes and I cant guarantee number go up!” Experiment, Anything goes, alternate dimensions. 
Chico Likes. Cheers I’ll see you next time!.

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