Panic!? No…I’m Buying the DIP w/ These ALTCOINs!

Egg yolk, what’s the squeeze, with your
new week those who don’t miss an episode, the Chico army, but if you do miss one, shoot,
you're just a viewer of the tube. My name Tyler, the host of the crypto channel,
says that when you open one of our videos, our content just explodes. You best catch up on the kitchen cleaning
miss,it’s time for Chico Crypto! So if you guys didn’t know or could tell,
I’m a big fan of Uniswap. One of the first times in history digital
asset swaps could happen, without a central intermediary. It’s all done with code, on the Ethereum
blockchain. Uniswap creates its own little financial ecosystem,
there’s bitcoin with wrapped BTC or others, there’s stablecoins with dai, usdc and even
nasty tether. Although, the only “piece” it’s missing,
is a fiat on & off ramp. Well actually many exchanges are missing that,
but a centralized option, as I’m sure many of you heard, just got the granddaddy of them

Kraken received a wyoming banking charter,
which will make that process for their customers, fiat on & off…that much easier. BUTTT, what I see with this….is you are
going backwards, where crypto, ethereum and bitcoin will always rely on the USD. Now, I know some of you would be in awe of
a fiat option for Uniswap, it would make it THE killer app.

Right? Well I personally don’t want to see that,
as Uniswap already has it’s dollar, it’s called DAI & the other stablecoins I’m bullish on any project, that is creating
a stable crypto currency as the volatile nature of the assets, is the biggest barrier to merchant
adoption….which we will get into a bit later, but first if you watched the live stream over
the weekend, you got a slight hint of one that I’ve set my eye upon.

That is mstable and their suite of defi applications
which unites stablecoins, lending and swapping into a single protocol. So, these products are all live…you can
create mUSD on the mint section of their application, and as we can see, it's created by taking
a basket of other stable coins, tusd, dai, usdc and tether and holding them in a smart
contract, so you mint by sending one of these to that contract. Soooo, right away you can compare this to
another stablecoin project. Reserve rights, and their stablecoin RSV.

Going to their minting portal, we can see
it’s similar, in that as of right now, it takes a basket of stablecoins, 3 to be exact. USDC, TUSD & Paxos Standard. So very similar, and checking out RSV stats
on Coingecko, we can see the market cap and circulating supply, is just over 1 million,
meaning just 1 million RSV have been minted, which can be confirmed from the tokens etherscan,
just over 1 million tokens, with only 109 holders.

For comparison, mUSD on Coingecko, has a market
cap and circulating supply of over 36 million, meaning 36 million have been minted. Which we can confirm by going to mUSDs token
etherscan, and looky it has over 3600 holders of the stablecoin. So, just on the surface, within the DeFi infrastructure,
mUSD looks to be about 36 times bigger than RSV. Now each of these projects, has a governance
token, Meta for mUSD band Reserve Rights, for RSV. As we can see, RSR has a market cap of 133
million dollars, while Meta is shooting up as people caught on from the live stream,
but still, the market cap is under 20 million dollars. Now when I see things like this, I see opportunity. Not hating on RSR or RSV, as I do hold some,
but mstable is pushing way harder in DeFi, which is seen by it’s DeFi stablecoin, being
36 times larger than RSV. So why is this? Well as you can see with RSV and their app,
you can just MINT and Redeem. That is it right now With mstable, you have of course mint and
redeem as well, but also save, earn & swap.

So save is an interest rate you can earn…as
of yesterday, that interest was an average 40 percent APY for the past 7 days…so how
is it earning that much?? Well a person deposits their mUSD into the
save contract, which then unlocks the underlying collateral stablecoins, tether, dai, tusd
or usdc…and now, those collateral assets are lent on several decentralised lending
markets, compound, aave and more. Underlying collateral is utilized. Then they have earn, which once again utilizes
DeFi to incentive their users to contribute to the procool.

Earn consolidates all of their liquidity pools
into 1 place, which are incentives pools, earning between just over 34 percent apy and
nearly 120 percent..which is possible, by rewarding the LPs, liquidity providers, with
their governance token MTA, weekly rewards for each pools is between 10k to 25k MTA. Finally, there is the swap tool, which allows
anyone to swap betweens stablecoins, with zero slippage, 1 to 1, no matter what the
underlying price of the coin… all 5 of them on the platform so far. So remember, I said I’m bullish on RSR and
RSV & hold some even though they are behind in the DeFi scene.

Why? Well their is something interesting about
one of the stablecoins, they accept, one that mstable doesn’t. Paxos standard. Now last year, Reserve had an AMA, and they
spoke of the stablecoins within their basket, Nevin Freeman, CEO said this “We are working
on forming collaborative relationships with our vault-asset stablecoins, USDC, TUSD, and
PAX. The applications we are going after tend to
be different from what they are pursuing, so it’s a harmonious relationship” Partners….and the Paxos one is particularly
interesting because in July of this year, it was announced that Paypal would be teaming
up with Paxos, for it’s crypto service and Paxos would be handling the supply of their
digital assets. From the article it states “It is not clear
exactly which cryptocurrencies PayPal intends to offer. Paxos declined to comment for this story. PayPal did not return requests for comment
by press time” And we know, who are investors for Reserve,
the ole Paypal Mafia is…and then some. Peter Thiel, co founder of Paypal, Jack Selby,
founding team member of Paypal, Eric Jackson, former VP of marketing at Paypal, and even
Sam Altman and Coinbase ventures, the then some.

So, it’s a make or break it for Reserve
with Paypal’s crypto service. It launches and integrates with reserve, boom
baby boom. It doesn’t…not good & that is possible,
because all of reserve’s connections to paypal are from the old paypal mafia, as we
know it was sold to ebay, a long time ago. Now remember, I said I wanted to get into
merchant adoption of crypto, as if that happens…it’s on like donkey kong. Paypal is working on something, but who knows
how long it could be before anything is here…and anything that is robust enough, can handle
the wild transaction fees, stablecoins & more.

But their is a crypto project out there, focusing
on merchant solutions, Origin protocol, who has dshops that are decentralized open source
ecommerce stores, that anyone can use to create their own blockchain powered web store, for
free. Some big crypto names have already created
dshops for their merch and items, including kyber, brave, and solana. And of course crypto payments are a staple
feature, ethereum, stablecoins, and any erc20 token. But my lord, the fees make it infeasible,
paying for a twenty dollar t-shirt with a 5 dollar transaction fee, which goes for all
the popular stablecoins on ethereum right now. So what are merchants and merchant solutions
like this going to do? *Cough *Cough….xdai. This is literally what the protocol was made
for. It was a solid weekend for xdai…confirmation,
that Akropolis is going to be moving to xdai….which is solid, as Delphi has over 17 million locked
in it right now…this is big, as we can see xdai over the past month has been trending
upwards in total value locked up, but its small still under 500k, thus, when big jumps
from things like Akropolis come, xdai is going to shoot up the ranking on defi pulse.

But this was big, Stani.ETH tweeted xdai…who
is this? This is Stani Kolechov, and he is the founder
and CEO of aave. Then he decided to tweet axdai question mark? That is massive if aave moves to xdai, as
1.32 billion is locked up with them, I mean even a piece-of-them, would be massive! And it’s beginning as if you didn’t know,
AAVE LEND is the token bridged the most to the xdai chain, with the most holders. So, like I’ve been saying, xdai is getting
the layer 2 looks, from the big DeFi names, as it’s ready to freaking go! But, the merchant adoption solutions, built
on xdai is where I see some major opportunities. This is where xdai originally got it’s looks…from
the xdai wiki on the burner wallet.

It says “Burner Wallet showcased the speed
and low transaction costs of the xDai Chain at ETHDenver when the transaction costs for
all meals was $0.20 while processing $38,432.56 in DAI to various food trucks and merchants. Merchants, it provided a solution for Merchants
and this in my opinion, is how crypto is adopted into the masses. Going back to the one of the Origin Shops,
Solana’s for example…everything is great, the UI, the shopping experience…connecting
to metamask or a hardware wallet, but once you get to payment…of the 23.99 dollar purchase,
there is an additional 7.25 cent gas fee, that is 30 percent of the total making it
now over 31 dollars. So unless you're making a purchase of over
1000 dollars, not worth it… Sooo, I cannot wait to see the solutions,
specifically merchant, that will be built on xdai allowing business merchants a scalable
and economically feasible solution.hopefully by origin, and others moving on this seriously
underrated sector of the crypto markets.

Cheers viewers I’ll see you next time!.

You May Also Like