/biz/ - Business & Finance

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Anonymous Tue Jul 18 19:14:36 2023 No.55590920 [Reply] [Original]

CCIP should be pure(?) profit for nodes (gas fees directly covered by users, no API overhead subscriptions), and scale with usage/txs (flat fee for messaging, % for token transfers + a 10% charge for payments in non LINK assets).

CCIP represents a major shift in that previously chainlink oracles indirectly enabled/captured value by being used in the backend of third-party dapps (hence why we had to use terms like TVS instead of TVL, or how pricing between CLL and dapps had to be conducted via off-chain deals, subsidies, shared cost model between different users).

With ccip, chainlink value model goes from indirect to direct, ie the 'universal gas' meme, being direct on-chain interactions, direct fee payments without backroom subsidies, etc. While it's still used in the back-end of dapps like snx and aave currently, with reference bridges ccip might soon become a front-end layer.

Imagine for a moment that ccip was a brand new project with a brand new token. Everyone would be salivating to get in.

But it's not a brand new project. It's a subset of a project that already established its monopoly as the de facto crypto infrastructure metalayer, that enabled the defi boom, never got exploited, +700 employees, secured its long term treasury, etc.

It's critical to understand that the price feeds, with their indirect value model, act as monopoly establishing loss leaders, for ccip to generate direct value, without additional trust assumption for +1000 dapps.

The only crypto project directly working with the biggest financial institutions like SWIFT and the DTCC, BNY, etc.

Now combined with the eventual implementation of staking for ccip, this means this direct value capture would flow to the token holders and stakers. And ccip would only be a subset of the larger chainlink network, with data feeds starting to generate more revenue like the gmx deal or the build airdrops.

I don't think any of this is priced in or well understood by the community/market yet.

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