/biz/ - Business & Finance

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Everyone is hunting for the next DeFi Gem? But where did this new crypto gold rush actually begin? Some digging finds the "DeFi Gem" craze began on January 30 with a Telegram post by "The Bull" on BNT. This account called the rise of BNT over the past 7 months before DGD ANON on biz & coined the "DeFi Gem" terminology. Since this post in January BNT has lead the DeFi Gem craze & is the top performing token in the category & still the most undervalued by PE ratio: https://twitter.com/ryansadams/status/1283499638209814529?s=21

BNT's low PE ratio + a coming liquidity mining program (staking rewards via inflation) that will be voted on by BNT holders triggered the original FOMO about the project/ The coming release of Bancor V2 which mitigates impermanent loss, enables single asset staking & 20x liquidity amplification (drastically reducing slippage) in AMMs has added rocket fuel to the BNT DeFi Gem FOMO. Link Marines were some of the 1st to discover BNT due to Bancor V2’s use of LINK oracles. Sergey wrote a blog about this saying Bancor V2 will “provide the necessary infrastructure to attract much larger liquidity providers from traditional markets”: https://blog.chain.link/challenges-in-defi-how-to-bring-more-capital-and-less-risk-to-automated-market-maker-dexs/

Major US based exchanges such as Coinbase, kraken & Binance US all caught DeFi fever & are racing to add top gems like BNT. Major institutional finance players such as tim draper & mike novogratz were also early to invest in BNT & defi gem hype: https://twitter.com/novogratz/status/1269645263955779591?s=20 https://twitter.com/novogratz/status/1269645263955779591?s=20