Amid the ongoing troubles with the SEC, speculation over their two current preferred stablecoins, and the downsizing of their work force, Binance has launched two new Launchpools... that will soak up some TUSD, FUSDD, and BNB while people have them staked into the pools. Now, there are some on crypto-twitter that say that this is further evidence of Binance attempting to dry up the sell pressure on these tokens and to try and introduce some buy pressure... who knows what sort of things are happening in the background?
All I know is that I have idle BNB sitting on Binance that used to be compounding in a Earn savings product whilst getting me rewards on a Binance debit card... but now, I have it on the exchange to get the debit card rewards (and to catch Launchpads...) but the Earn product is now banned in Australia. Poop...
So, when a Launchpool comes around... I immediately stake my BNB into it, otherwise it is just sitting idle. I'm not buying more, but I'm also not selling anything... just a holding pattern.
So, lets take a look at the two Launchpools which were opened at the same time, and will both run for 30 days.
The first one (and slightly less interesting to me...), is the CYBER token. Cyberconnect is a project that recently had their first retail crowdsale onCoinList project that aims to create a "web3" social network... hmmm, I was a little bit dubious about this when I first looked at it on Coinlist, and nothing really has changed that much... 1.25 million accounts, it seems just a little bit too high, almost as if there was a touch of sybilling going on for a "community airdrop" or something.
Plus, I think that there are better alternatives available that are being actively used by non-airdrop hunters. That said, the space is new enough that there is no guarantee that a head start will mean anything at all. And decentralised social does seem to be one of the buzzwords that is floating around at the moment.
Now, SEI is a project that I had heard of last year... when it was overshadowed a bit by the SUI and APTOS launches. All of them are alternative Layer-1 protocols that hope to supplant Ethereum... at the moment, I'm a little bit dubious that anything will supplant ethereum... but you never know. SEI's big feature is parralisation of transactions... something that is common in computational processing, but is sorely lacking in blockchains. Currently, everything is done in a serial fashion as that is (was?) a limitation of the ability to come to consensus easily.
Has SEI managed to solve this problem? It claims to have done so, but these claims need to be stress tested by real users... and malicious ones as well. Otherwise, we just have a faster but protected system, which defeats the entire purpose of this revolution!
So... I will be allocating a bit more of my pooling towards SEI, as this does strike me as the more interesting technological development. On the other hand, never bet against hype and buzzwords... web3/decentralised social is all the rage, and I would be foolish not to take a bet there!
I can also be found cross-posting at:
Hive
Steem
Publish0x
Handy Crypto Tools
Ledger Nano S/X: Keep your crypto safe and offline with the leading hardware wallet provider. Not your keys, not your crypto!
Binance: My first choice of centralised exchange, featuring a wide variety of crypto and savings products.
WooX: The centralised version of WooFi. Stake WOO for fee-free trades and free withdrawals!
GMX.io: Decentralised perpetual futures trading on Arbitrum!
Coinbase: If you need a regulated and safe environment to trade, this is the first exchange for most newcomers!
Crypto.com: Mixed feelings, but they have the BEST looking VISA debit card in existence! Seriously, it is beautiful!
CoinList: Access to early investor and crowdsale of vetted and reserached projects.
Cointracking: Automated or manual tracking of crypto for accounting and taxation reports.
KuCoin: I still use this exchange to take part in the Spotlight and Burning Drop launches.
