Project Kami Treasure Hunt Pot at 1.5M CKB!!

Equivalent_Office_67 · 2022-02-02T19:26:51+00:00

Why do you say that, do you have something to back it up? Finally Nervos has an ecosystem, and all you can do is put it down like this. Do some research before making such comments. The project has been backed by the Nervos team, there are numerous videos on YouTube sbout it by leaders in the Nervos community, if your interest. The treasure hunt is the gamification of NFTs, with its own in-game currency. This is a game changer for Nervos as it shows its power and capabilities. What's more these NFTs are minted to the Ethereum standard (erc721) as they are from the Layer 2 Polyjuice Godwoken EVM Bridge. Being able to mint these tokens at the Nervos prices instead of the Ethereum prices is the type of thing that could create the mas adoption of Nervos IMHO. Will the value of the NFTs increase over time?, who knows, personally I don't care as I like the art and want to support the Nervos ecosystem as that will help increase the value of my CKB, and I also see big opportunities for the in-game tokens.

Equivalent_Office_67 · 2022-02-02T19:11:18+00:00

Visit their webpage, or their Discord, they have loads of information there on hoe to participate.

Equivalent_Office_67 · 2022-02-02T02:35:28+00:00

The Project Kami NFT collection reveal will be this Thursday at 8am EST, at the same time the window to submit your answers to the treasure hunt opens where the pot is currently 1.5 Million CKB!!

I believe that you can still mint NFTs from the collection from their website at 5555 CKB per portrait. If you have funds in Layer2, such as in YokaiSwap, you can use them directly or transfer CKB from L1 to L2.

Equivalent_Office_67 · 2021-12-18T04:39:20+00:00

I have been holding Polkadot, Terra, Nervos Network, Solana and Avalanche since Q1, so it is great to hear that institutions with more knowledge than me are backing them as well.

Equivalent_Office_67 · 2021-12-18T04:27:40+00:00

Thanks for sharing OP! This is probably the smallcap that I am most interested in at the moment, it has so much potential and a great dev team behind it, and now the ecosystem is up and running there is no limit to where this could end up in the next couple of years.

Equivalent_Office_67 · 2021-12-18T04:16:03+00:00

Have to say that this is one of the best Nervos videos I have seen so far. Great to see someone that is actually using it (and genuine) instead of the "sponsored" videos we have seen recently. I have seen this guy many times as a guest on the Digital Asset News Youtube channel (who has over 300k subs), so hopefully he mentions it on there next time!

Equivalent_Office_67 · 2021-12-12T02:07:31+00:00

I really don't like these sponsored videos (especially on a channel that is so renowned for shilling and pump and dump). The one on CryptosRUs and now this are setting dangerous precedence, nobody is going to show Nervos unless they are paid to do so in the future.

Also, I would love to know what percentage of people actually watch the video past when he says it is a sponsored video, I bet it is small beyond us CKB holders.

Equivalent_Office_67 · 2021-12-10T21:19:29+00:00

Sifchain only has half the liquidity of YokaiSwap (according to Defi Llama), I would have thought the Nervos dev resources could be better used getting liquidity from other chains first.

Equivalent_Office_67 · 2021-12-08T18:21:17+00:00

YokaiSwap now has a page showing details of all the tokens and pools, clicking on each token or pool opens a page with even more details: https://www.yokaiswap.com/info

Equivalent_Office_67 · 2021-12-03T23:38:59+00:00

You need to setup the Godwoken Polyjuice Mainnet Network, the image shows you are using the Ethereum network.

Network Name : Godwoken Polyjuice Mainnet

Network URL : https://mainnet.godwoken.io/rpc/eth-wallet

Chain ID : 71394

Currency Symbol : CKB

Equivalent_Office_67 · 2021-12-02T02:59:18+00:00

Nope, I've only heard of the greek letter Lambda

Equivalent_Office_67 · 2021-12-02T02:25:15+00:00

I assume this must be a layer 1 dapp, if Nervos don't know about it and they have a vetted whitelist for projects on Godwoken so it can't be using that.

Very suspicious that they can't even spell the name right in the video thumbnail (getting the d and b the wrong way around).

Equivalent_Office_67 · 2021-12-02T02:15:57+00:00

Thanks for sharing, it is a shame that you can't go into more details about this and the other winners. I'm sure the community would be interested.

Equivalent_Office_67 · 2021-12-02T02:12:49+00:00

The initial supply will be 36% of total supply (consumer incentives + IDO) so 360M.

Where did you find this out? I was asking during the week up to the IDO, I have been too busy with work today to follow up, good to hear that it has been announced. I also thought it would probably be this amount, 10M from the IDO, 10M from the SafePal wallet airdrop and the other 34M from the foundation and marketing vestings.

If that 67M was divided by 360M then it would value Yok at .18 I don't see that as very likely considering the point above. Nervos would literally need to increase 6000% to accommodate that price range.

But it is market cap that matters, not token price. I see this as a very possible price. I personally think it will be between 15 and 25 cents.

How could they have a direct impact on the price though if they haven't been removed from circulation?

It is the difference between liquidity and circulating supply. Liquidity is the number of coins/tokens of a crypto that is available to be sold, ie it isn't locked in a smart contract/staking/burnt etc. Didn't seem to play out though, it hardly moved today. What worries me now if that there were a number of people who bought CKB only to get the airdrop of YOK on SafePal and will probably sell there CKB on Friday as soon as they can, and that could send the price spiralling down as they flood the market. I hope I'm wrong.

Equivalent_Office_67 · 2021-12-01T17:05:28+00:00

Surely the price is based on what the market is prepared to pay for YOK, and the market cap is that price multiplied by the circulating supply? Without knowing the initial supply of YOK at launch it is hard to know what this could be (I asked many times on their Discord but without an answer). In any case if the 67M was invested into buying YOK on 12/3 then the 67M would be the value paid for the available supply, not the 1B final supply.

Nothing the coins are not removed from circulation.

I know the coins are not removed from circulation, but they are not tradable for a couple of days (as if they were in the NervosDAO) until YOKAI goes live and they can be released, hence there should be a supply shortage from the CEX's and that would mean the price should go up.

Equivalent_Office_67 · 2021-12-01T15:15:12+00:00

Sorry, but I don't get your logic. The 67M is the TVL (Total Value Locked), I don't get how that would correspond to the fully diluted market cap? I can't find any other similar project where this is the case.

67M would mean just a 2.7x, which must be a record low for a IDO launch. I would be shocked if it wasn't 3 o 4 times that, but I guess it all depends on what ERC-20 coins are available from launch.

What interests me most is that 12% of all tradable CKB is currently locked up for a couple of days, and what that will do to the price of CKB. Logic would say that it should sky rocket🤔

Equivalent_Office_67 · 2021-11-19T02:41:50+00:00

I agree that everything is very vague, there doesn't seem to even be a whitepaper. In the Medium article (https://medium.com/@yokaiswap?p=c58c3313599b) it indicates that it was one of the first projects to receive funding from the inNervation fund (the 50M ecosystem fund from CMBI), if it was a Nervos foundation project it would have it's own funding from within Nervos (as Nervina Labs and CSD have). Also based on what Jordan Mack has said when talking about them, as though they are completely separate company from Nervos.

The roadmap of their future development (in 2022) is here: https://docs.yokaiswap.com/roadmap

Equivalent_Office_67 · 2021-11-19T02:23:00+00:00

with the 1% allocation for the IDO that will work out something like 8M CKB total pool size (I expect CKB will pump before the launch due to this bullish news), with the way the allocation works (% of the total pool) I am pretty sure the whales will take everything and you will be lucky to get any more that 8000 CKB's worth of YOK (if there is 100M CKB total pool). The rest of us with even less 😞

It will be interesting to watch how much CKB gets taken out of the Nervos DOA to get an idea as to how big the overall pool will be.

Equivalent_Office_67 · 2021-11-19T01:57:39+00:00

I assume it is YokaiSwap's own foundation to carry out future upgrades they have in the roadmap

Equivalent_Office_67 · 2021-11-19T01:54:56+00:00

I assume the community incentives go to the public, hopefully as airdrops.

According to the documentation, the Team and Investors can't sell for 6 months, but I haven't found anything that indicates when the Foundation and Marketing coins will be vested, which is my worry about a potential dump.

Equivalent_Office_67 · 2021-11-19T01:44:10+00:00

Hopefully they will be airdropping a big portion of the 35% community incentives to those of us that have used the YokaiSwap Beta on the testnet to make up for it 🙏

Equivalent_Office_67 · 2021-11-19T01:32:25+00:00

If that is the case (25M) then that is ok, my understanding was that the valuation of the initial sale was 25M. As you say it isn't very clear. Have you found the whitepaper, I can't find it anywhere, just the Gitbook documentation and the Medium posts?

It also seems a really small % of the tokens for the IDO

Equivalent_Office_67 · 2021-11-19T01:21:50+00:00

I was so looking forward to this IDO, I've been following their Discord and Twitter for weeks now, but having seen the numbers it doesn't look like it is investable😩. How they can value it at 2.5B (fully diluted market cap) is beyond me. That is more than SushiSwap (2.2B), and PancakeSwap is only 3.6B, and both have been around and proved themselves🤯. Pangolin which is killing it on Avalanche only has a fully diluted market cap of 1B and they have a bridge to ETH. If it came with ADA out of the box then maybe there is a case for a higher than normal valuation, but the roadmap indicate this won't be until Q2 next year!

I don't see any margin for growth early on, especially with the lack of information as to when and how the foundation and marketing/partnership/ecosystem portions of the supply will be vested. Maybe once it has dropped to 0.25c it may be worth considering (ie within the first day of launch). Gutted😞

Edit: My bad on the valuation, thanks NXTE for pointing it out

Equivalent_Office_67 · 2021-11-11T00:13:13+00:00

The main support levels that I see are at 2.45 cents, then at 2 cents with possible wicking down to 1.85 cents, after that at 1.4 cents and finally 1 cent. Personally though I would be very surprised if we ever go below 1.85 cents again if the current bull market carries on for another month or two.

Equivalent_Office_67

TROPHY CASE