/biz/ - Business & Finance

>>22173401
https://www.coingecko.com/en/coins/gastoken

>>22173401
Thanks for the tips the other day on this one. 1k unironcially If gas prices stay high.

I think this will be used to blow up ethereum and have everyone convert to arbitrum or another chainlink solution. Thoughts?

>>22173401
Is it going to break ATH tho?

>>22173401
There's no liquidity and IC3 is holding most of them for a secret project. You're better off buying CHI instead.

>>22174230
If gas prices stay high, then yes. People are going to start looking into ways to save money on gas prices. Not just people, but wallets,exchanges, defi products.

This will all be elevated quickly if the traditional markets start to go bearish and people start to look for ways to put their money to work in defi

https://medium.com/amber-group/cornering-the-ethereum-fee-market-6513a1efcb6c

>>22174373
Uh oh looks like people are starting to catch on. Thanks for the link, haven't read that yet

>>22173401
Looks like someone already created a project to save money on gas and has a bot buying gastoken automatically. This is the beginning people.

Someone was fudding in the thread the other day saying token not needed and I fell for it. I didnt bother to stick around for the discussion lol I truly missed out fuck.

>>22175229
Oil.finance

>>22175317
I don't think you missed out anon. IC3 holds a large majority of tokens and isn't going to dump on you. Just read the pic in OPs second post

>>22175627
Do you mind spoonfeeding a brainlet? I have a few questions from trawling through warosu so far. How does this compare to Arbitrum and what about CHI, which is apparently some kind of fork of GST2?

>>22175530
What is this? I saw a tweet but it got deleted. Are you creating that?

>>22175981
Nah I'm just lurking. No idea why he deleted it. Drill.finance isn't up either.

>>22176066
If someone actually developed this...wow

https://twitter.com/ambergroup_io/status/1301177298595590152

>“Amber Group is one of the world's leading crypto finance service providers, operating 24/7 with a presence in Hong Kong, Taipei, Seoul, and Vancouver. To date, Amber Group has traded over $200B, with an average daily trading volume between $100-200M. In 2019, the company raised $28 million in Series A funding led by Paradigm and Pantera, with participation from Polychain Capital, Dragonfly Capital, Blockchain.com, Fenbushi Capital, and Coinbase Ventures.”

Just bought some thx

>>22173401
Unironically about to sell 2k link and and buy 143 gas which would make me a top 20 wallet.
>Cornell tech
>Chainlink labs
>Fucking Ari Jules

Yeah this is gonna blow up, thank you OP for making a thread on this.

>>22173524
unironically not. someone minted over 8k of these badboys earlier this year, distributed it to a few dozens wallets, and sells whenever it gets close to $200

>>22176475
>Minting
>Sells whenever it gets close to 200
You're such a nigger

>>22174230
It just did

>>22176967
yes, this is an implied risk. Yet communist ETH devs have had 2+ years + the 6 months prior to gastoken's launch where IC3 disclosed this exploit to the ETH Foundation and still have done nothing about it. They're REEEing on twitter as we speak

>>22176967
>>22177112
https://twitter.com/aliatiia_/status/1301247233065717761
related

>>22177112
And how long as staking been on their slate?

>>22177350
By using GST2 we are speeding up development of Eth2.0. We will blow up eth1 while getting rich holding GST2. Get wrecked vitalik >>22177165

>>22177165
What the fuck is going on. So this is like turning Ethereum into Ampleforth? Wtf is happening amymore hahahaha

Does anyone else think that Ari and team knew this would be an issue with high gas prices and stuff and developed GST2 to one day be able to force something to happen, wether speed up eth2.0 development. Or maybe even have a solution ready (arbitrum?) That everyone will have to move to?

>>22178299
Could you explain the difference between gst2 and arbitrum? Wouldnt arbitrum render gst2 useless

>>22178068
Fucking read faggot

Chi gas token is built based on this

>>22178403
Yes it would. The price of GST2 would be astronomically high if people still used ETH1. It's a timing play bc yes GST2 is a solution for ETH1 high gas prices

>>22178403
Yes they are similar. And if one succeeded, the other will also benefit as well and appreciate. They are pretty much tandem now

>>22178549
Ah I see. Im looking forward for arbitrum but i guess ill check an eth or two into gst2 for the sole reason of ari being involved.

>>22178668
>And if one succeeded, the other will also benefit as well and appreciate. They are pretty much tandem now
How so?

https://twitter.com/ambergroup_io/status/1301177298595590152

"So it would not be unimaginable to see prices of gas tokens move higher by a few orders of magnitude in a drastic repricing."

That's all I needed to hear.

Thread theme:
https://m.youtube.com/watch?v=atuFSv2bLa8

>>22176574
Why? Be gentle I'm handicapped

So why isn't YFI or YFV taking advantage of Gastoken? Could you create a vault or staking pool that uses the Gov tokens as collateral for stable coin market making and then buys contract space(gas) with the fee profits while its lower and then resell the gas for a profit when its high. Seller profits and the buyer gets somewhat cheaper gas rates during high volatility which is when people profit the most. Everyone wins. Not to mention it would create a feedback loop as the article mentioned. Any YF clone that manages to figure this out would explode. I feel like I'm onto something here. Thoughts?

bump

Bump eeeet

So how do I buy this shit?

>>22180262
>So why isn't YFI or YFV taking advantage of Gastoken?
Nearly no one who frequents farming sites holds them

>>22180262
Yes, waiting on someone to create something like this.

>>22181445
lets change that then bb

>>22173608
dlete this

If someone found a way to intelligently use gastoken in a defi product, it was be insanely popular. ;)

>>22181445
>>22181611

That's what I'm saying using Gov tokens as collateral to stable coin market make and then use the profits to buy gas tokens when they are cheap or just in general and then make people buy your cheap gas with the Gov token lmao. Perfect positive feedback loop. Seriously someone make a proposal on YFI/YFV. Its genius

>>22182304

bump

>>22178726
I'll try to answer based on my limited reading. Basically any continued success in usage of GST2 will make Eth gas prices higher, when then you will have to use GST2 just to have low enough gas to use the eth network or to "defi". Eth gas prices will rise and promote even more usage of CHI/GST2. It's a positive feedback loop.

>>22183472
If this does indeed happen and gas prices continue to rise, the GST2 token will rise more than you can imagine.

>>22183517
Which is why Ari snatched back Phillips tokens and won't let the bulk of them into circulation. They don't want that to happen.

>>22183583
So what are you saying? It actually helps that IC3/Ari has control of all the tokens. Just read the tweet, they were saying that they would not be sold and the project would be left to look at from an economic academic perspective. Phil might have dumped some on you, but I don't think Ari would. The circulating supply is seriously low, and not going anywhere.

This and breeders, fuck I don’t have enough fiat. Fuck you motherfuckers for talking about actual utility projects.

>>22183730
Vitalik considers what gas tokens do to be abusing an exploit.

>>22184511
You forget that crypto Is still the wild west. Vitalik can't stop anything

No wonder vitalik hates chainlink. It all makes sense now. Wouldn’t be surprised if he pulled a gun on sergey and Ari at a conference one of these days.

>>22184601
I imagine the politics are more complicated than that.