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2023-11: Warosu is now out of extended maintenance.

/biz/ - Business & Finance

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53101302 No.53101302 [Reply] [Original]

Algorand.
It’s fast, it’s cheap, it’s an Alt L1 which lived and died in the most recent bull run, but is it really? Basically nothing was even happening on Algorand until the very end of the bull market in November 2021, and now that it’s the unequivocal, non-debatable bottom of the pathetic 2022 bear market, Algorand actually has a solid suite of defi primitives running on Mainnet, and second-tier DeFi dapps like Deridex are just now coming out. While the many products of the 2017 ICO era died off in the last bear market (they were all scams), Algorand isn’t in the same situation this round. While all the other L1s (Avalanche, Solana, Cosmos, etc.) have been floundering due to their ample conflicts of interest biting them in the ass, Algorand seems to be bridging the gap between the bull markets of 2021 and 2023/2024. While the Algorand Foundation is desperately (bullishly) selling their ALGO holdings so they can go into 2023 with decent cash reserves and a solid marketing department, Algorand Inc. has been setting themselves up to make bank setting up custom co-chains for institutional applications while they continue to develop the AVM. This is getting long-winded, just set up a MyAlgo wallet and check out some Algorand DeFi.

>Wallets
https://perawallet.app/ (mobile app, good for transfers)
https://wallet.myalgo.com (web wallet, not an extension, great for DeFi)

>Popular ALGO DeFi
https://www.algofi.org/
https://tinyman.org/
https://folks.finance/
https://algoxnft.com/
https://www.nftexplorer.app/
https://app.deridex.org/

>Personalized Algorand addresses (NFD)
https://app.nf.domains/

Pic related is the Foundation’s best asset, John Allan Woods, look into him.

>> No.53101326

>>53101302
trash tokenomics

>> No.53101352

>>53101326
Barely any ALGO have been sold to VCs. The Dutch auction participants got a 90% refund on their contributions, and Accelerated Vesting ended in 2021. What else is there? The Foundation selling off their ALGO reserves? That just continues to shrink their stake in the network, which is, as previously stated, bullish.

>> No.53101462

When do I get my governance rewards

>> No.53101515

>>53101302
I'm still holding and will continue to do so

>> No.53101611

>>53101462
When they’re ready <3

>> No.53101666

Will continue to underperform and fall down the ranks. Nothing new here, just another altcoin to siphon liquidity from retail.

>> No.53101701

another coin that will rug its bagholders like SOL/LUNA

Stick to Proof of work.

Hint: It starts with K, and its miner is sold by bitmain

>> No.53101718

>>53101352
According to Crunchbase, Algorand had two rounds of financing before the official launch of the Dutch auction. The first round was led by USV and Pillar Companies, raising $4 million total. The second round was a private placement round in which Algo raised a total of $62mn at $0.05 per token. The investors there included Lemniscap, Kingsley Advani, Eterna Capital, VLane, and Polybius Capital.

>> No.53101934

>>53101718
After months and months of accelerated vesting, how much ALGO do investors have left? Keep in mind that 3AC sold their OTC bag early last year, and a lot of the large ALGO accounts are owned by Foundation and Inc for specific purposes. I think the VCs have gotten their profits out of ALGO already.

>> No.53102023

>>53101934
It doesn't matter that accelerated beating ended. It matters that it happened. Everyone is staying away because of how much the supply inflated and the underperforming during the bull/bear market is more than enough to keep them away. More scams will pop up later and people will just gravitate towards them. The mismanagement and taking so long to build an ecosystem is just the cherry on top.

>> No.53102580

>>53102023
Basically this. I come to every thread to FUD algo just because I think it's RedditCoin and I fucking hate it.

I actually think OP did a reasonable job in this thread, better and more objective arguments than the usual shit in Algo generals. All the same this coin is never reaching $1 again.

>> No.53103258
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53103258

BRAAAAAAAAAAAPPPP
Dead shitcoin.

>> No.53103311

Algo is great but OP is a paid shill for deridex. You did a decent job not being too obvious about it but you've used that picture too many times in the past while being blatant about it. But at least someone is trying to market algo.

>> No.53104326

imagine using Algorand when Ethereum exists

>> No.53104335

>>53104326
I used both
The main problem with Algorand is that the ecosystem sucks, but ive been on it ever since it launched
The main problem with Ethereum is that is very slow and too expensive

>> No.53104344
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53104344

>>53104335
>very slow
>too expensive
there’s L2s like Mantle with hyperscalability now. how is that still an issue with you. god fucking damn it

>> No.53104348

>>53101302
I'm not hopeful Algo will go up anytime soon. However fundamentals are solid so keeping it around in 1000 algos.

>> No.53104989

>>53104348
Put that chump change in ICP/ETH retard.

>> No.53104999

>>53101302
I have 30k, what am I in for?

>> No.53105016

>>53101302
Foundation is Bullishly dumping their coins hahahha
Thanks for the kek.

>> No.53105115

>>53104999
Pain

>> No.53105323

>>53101302
scam

>> No.53106041
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53106041

>>53104326
>

>> No.53106094
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53106094

>>53106041

>> No.53106599

>>53103311
What's deridex? Yet another scam that markets itself by poorly downplaying established projects?

>> No.53108304

>>53106599
Despite having far less liquidity than GMX, Deridex has about the same “cost” of making a trade of reasonable size. Deridex is a perps trading dapp which allows users to borrow assets on margin and trade with actual dex liquidity. The only pair currently used is ALGO/STBL2, so price impact and swap fees make up the bulk of trading costs. Deridex lenders just get interest paid on the borrowed size of positions. I think it’s cool but it’s in the early stages of its full development, audits aren’t even complete yet. When Algorand is the last L1 standing, the UX will be unbeatable.

>> No.53108333

kek
glad i dropped this turd of a coin before tanking hardcore

>> No.53108837

>>53108304
>When Algorand is the last L1 standing, the UX will be unbeatable.
Ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha

KYS baggie