PREPARE! Airdrops BIGGER than Uniswap Incoming Soon!!

Yes, everyone wants instant gratification. A trade that starts moving right after you
pull the trigger to invest. Altseason, which we have been in for some
time, is a time of the year where instant gratification becomes the norm….but those
who instantly think gains will arrive, will be the ones rekt the most when the fun ends…but
there is a way in these markets to identity, what is going to be big, before it’s big….and
that’s by watching this channel, because it’s time for Chico Crypto!! Stablecoins, they are the hot topic as of
now. Yesterday, I covered a multi collateral stablecoin
competitor to makerdao’s multicollateral dai. That was the unit protocol & if they become
apart of the yearn ecosystem, big things for USDP! But, one of the criticisms of multicollateral
stablecoins, including USDP and multicollateral dai is the fact that permissioned stablecoins
are a part of that collateral. It takes away from the decentralization of
the coins. Some say that single collateral dai was better
than MCD…because only the fully decentralized Ether could be used as collateral. Unit protocol is better, as they had more
collateral options out the gate, but still those stablecoins, permissioned, reduce decentralization….

Where has all the decentralization gone? Well it’s coming back in the form of not
dai but Rai….Rai from Reflexer Labs. And Rai just went stealth live on the mainnet
yesterday… As we can see from the blog post headline
it says “Crypto native stability backed by ETH and available for all” Yes Rai, only uses ETH as collateral. That is it…and that is how it will stay. So what is Rai?? Besides a ether collateral stablecoin? From the team's description “After almost
a year of testing, simulations and building, we’re thrilled to announce the launch of
RAI! RAI is an ETH backed, non pegged stable asset
whose monetary policy is managed by an on-chain, autonomous controller” It’s ETH backed, but it’s a non pegged
stable asset.

What does that mean?? Non-pegged stable?? Well Dai is a pegged stable asset, it is pegged
to 1 USD. Dai is always fighting to hold that PEG, 1
buckerooo…. Rai, does not hold its peg to 1 dollar. What??? So what does it hodl it PEG to? Well Rai is a free floating stablecoin, so
that is to be seen. But they did run a testnet, for a year, then
a mainnet demo, with ProtoRai, aka PreRai…the mainnet demo lasted for 3 months, it ended
on January 25th. During these 3 months, Proto RAI showed how
a stable asset can lack a peg and instead have its redemption price float in response
to market forces. PRAI’s redemption price started at $2.015
and then floated between $1.937 and $2.06….not a bad variation of stability, especially when
there were no professional market makers, almost no liquidity and a lack of arbitrageurs
to make PRAI significantly more stable. Also during the demo, ETH went from about
$400 to $1400, a 350% increase, while the redemption price fluctuated less than 4%. So now that Rai, has dropped the P and is
live on the mainnet, these market forces, professional market makers, arbitrageurs,
and lots more liquidity could make it even more stable, with less than a 4 percent variation.

But that is to be seen, as of this video,
it's only been 24 hours on the mainnet. So, I’m sure many are looking for the token
symbol RAI…but realize that RAI is just the stable asset of the protocol. You would get into RAI, like you would get
into DAI, if you want stability. But, people actually need to realize this,
RAI is this protocols DAI. Reflex forked makerdao to create this…which
means this protocol, has a governance token…..like MakerDAO has Maker… So what is the governance token? Well in their mainnet blog post, they speak
of liquidity incentives and say this “In the next couple of weeks we will announce
our liquidity mining program for the RAI/ETH Uniswap v2 pool. At that point, we will also reveal the Reflexer
ungovernance token, FLX” They continue “In the meantime, we’re
not saying that there will be retroactive mining rewards for the initial cohort of RAI/ETH
LPs, but we’re also not saying there won’t be” and then they say “Before the liquidity
mining announcement, you can test our Kovan liquidity mining dashboard.

So they have the liquidity mining dashboard
on the Kovan testnet, ready to go…but the big point is this “we’re not saying that
there will be retroactive mining rewards for the initial cohort of RAI/ETH LPs, but were
also not saying there won’t be” So that means, FLX could be airdropped to
those initial people providing liquidity to the RAI liquidity pool on Uniswap. It could… So how does one go about doing that?? Well 1st you need to get RAI to add to the
LP on Uni. 2 ways of obtaining rai right now. You can trade on Uniswap for it….just make
sure you are on the right Rai & is the confirmed trading pool or just like Makerdao, you can
create RAI, creating a safe aka a rai leveraged position, similar to makerdao CDPs.

You put in the amount of ETH you would like
to put down as collateral. Per example 3 ETH, which gives a max borrow
limit of just over 1195 RAI. If we borrow only 500 RAI we get our RAI redemption
price, our collateral ratio, and our Ether liquidation price. Our Safe would be liquidated at an ether price
of 759 dollars. But if we push up our MAX borrow for RAI,
that collateral ratio drops significantly, and our liquidation price rises significantly,
if Ether drops to only about 1814 dollars, this safe would be liquidated. Way less wiggle room…than the 1st choice. But with the 1st choice you get way less Rai. So, RAI is now obtained. How do you add it as liquidity to Uniswap? Well back to the official Rai Uniswap information
page, they have an add liquidity section.

Remember, with Uniswap LP pools, you need
to put an equal value amount of the token in RAI, and Ether….You need to add 2 assets
to the pool. And that is how you Could be air dropped their
ungovernance token, FLX. So, I’m not saying anybody should do this
without understanding the risks of everything. Rai, and Reflex is brand new, it has major
risks as a new DeFi protocol and concept. Rai Safe’s are leveraged positions,understanding
those and CDPs is critical if obtaining RAI through that way.

And finally it’s possible they don’t even
do an airdrop…they didn’t say they were, but they didn’t say they weren’t. But, the past of aidrops, for big DeFi names,
shows us joining in on the action early. Could be very profitable…Uniswap, the big
ole airdrop that started the trend…it initially surged, dumped….but has fired up & kept
on a surging to BIG levels. Similar story goes with 1inch, they dropped,
initial surge and dump, but it has moved & gone to higher levels! All of this happening on a shorter timescale And the more recent one, TORN, from tornado
cash…which the tokens recently got unlocked for trading.

Initial surge, a dump but it’s already finding
its footing on a much shorter time scale than even 1inch. I have a feeling FLX, will follow a similar
fate. And the hype may be stronger for this one…Why??? Well another token, who did a testnet airdrop
reward..as we can see from their public sale announcement blog, in token distribution,
9 percent of the community allocation, went to testnet indexer rewards….I remember,
I covered it.

Well the graph has followed a similar fate
as well….looking at it’s price, after it’s initial launch, it had that pump, and
then settled down, but since….it has surged. Well guess who the graph was specifically
tweeting about here recently? When they were in stealth proto mode? Well December 2nd, with a tweet that only
got 47 like, the graph said “The first on-chain PID controller is live! Check out the reflexerfinance mainnet demo
for Proto RAI & manage PRAI positions with this epic dashboard!” So, that is bullish the dominant force that
is the graph is tweeting about them and their PID controller, but it makes sense as if you
go back to reflexer app, and click your address…it defaults to a blockchain connection through
a the graph subgraph, but you can change to an RPC endpoint if you woud like… And I notice things in the industry, like
others don’t…Someone decided to tweet about Rai at the end of the premainnet…Charlie
Noyes.

He said “The future of finance” with a
slick meme…but who is Mr. Noyes??…He’s only the investment partner and dedicated
researcher for the paradigm capital….one of the largest crypto VC funds in the space. Ran by the co-founder of Coinbase, Fred Ehrsam,
to this day executive board member…. So Rai is coming, but…you guys, please don’t
think Chico doesn’t have a token that is trading. For those who have stuck around. We have something SWEET! Pooltogether, the no-loss crypto lottery,
airdropped their governance token yesterday! And of course, many Chico members should of
received this drop, as I covered it in July of 2019 for the 1st time & here is what I
said…. So, check your wallets, and HODL this one..because
of who they are connected too. There were two projects the certain companies
USDC bootstrap fund invested into back in april of last year. The investor was Coinbase…the 2 crypto companies? One is the nearly 1 billion dollar market
cap Uniswap…& the other is the under 15 million dollar market cap Pool. You get my drift…..

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