RE: These guys...a decade ago didn't know what the future holds...but you do.

avatar

You are viewing a single comment's thread:

Like UNI token...Apart from its use as a governance token I can't really understand why the fuck people buy it? Just because DeFi is hot right now?

Uniswap does around $1 billion in daily volume on the platform. With the 0.3% trading fee that means people are spending roughly $3 million every day on fees just to use that platform. While this money doesn't currently go to UNI token holders, it will likely start to in the future as UNI holders vote what to do with fees. Many defi governance tokens are similar. There are a lot of tokens that have no good reason for their high valuations, but I don't think UNI and the other popular defi tokens fall into that category. There is a LOT of money going through those platforms and generating fees and that is likely to grow significantly in the future.



0
0
0.000
6 comments
avatar

Fair points. However...

While this money doesn't currently go to UNI token holders,

So for the time being it's purely speculation that drives price up?

it will likely start to in the future as UNI holders vote what to do with fees.

Or it might not(?)

Posted Using LeoFinance Beta

0
0
0.000
avatar

Or it might not(?)

Well that is up to the UNI token holders to decide. The whole point is that the UNI token holders control the project which generates ~$3 million in daily fees and growing. So there is clearly a lot of actual value behind that token.

Posted Using LeoFinance Beta

0
0
0.000
avatar

i need to dig more into this. I have no clues who makes the proposals...or if it is a stake based procedure etc...but the truth is that DEXs are probably the future. That being said I have a feeling that you do hold some... :P

Gonna grab some myself too...worst case scenario, a new Sushi pops up and UNI's price goes to hell

Posted Using LeoFinance Beta

0
0
0.000
avatar

Heh, no, unfortunately I do not hold any UNI tokens, and I didn't even receive the airdrop! I am not a good trader or token picker so except for a few rare cases I only put money into BTC and ETH. RUNE was one of the rare exceptions where I put some in because everyone was making such a big fuss about it here and so far that has worked out pretty well!

Anyway, the point I was trying to make was only that there is a lot of real actual underlying value behind many of the defi tokens including UNI. They have an actual product that people are paying significant amounts of money to use. This is VERY different from the 2017/2018 bull run and ICO craze. I have no idea if the token is a good investment or not, so please don't take these comments as an endorsement to buy it.

Posted Using LeoFinance Beta

0
0
0.000
avatar

Meh no worries bud. I don't take it as endorsement to buy it. I mean even if I wanted to buy it big chunks like I did in the past now I simply can't "P

2020 was a complete disaster...so I am only playing around right now...Had to sell 90%+ of my holdings just before BTC crossed its previous ATH...what a timing eh? :)

I'll try to build my mini empire slowly again

Posted Using LeoFinance Beta

0
0
0.000
avatar

Yea I've been reading your posts and was really sorry to hear about the crap that happened over the past year with your business. Hopefully your HIVE/LEO earnings help a little bit, and I hope that one day your bags of both of those coins will be worth a fortune!

Posted Using LeoFinance Beta

0
0
0.000