After listening to the call, not much new info and my main concerns are not solved:
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Lyra Foundation, it is not included in the terms and it has millions of dollars from token sales that no one knows what is going to happen. Seems that it was not included intentionally to extract value from the actual token holders who funded it and will be used to develop new products. No mention neither to how much money is there.,
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Why with same revenue we get diluted 90% in the deal?,
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Why the tokens we receive are locked? The only strong point from SNX is that their token is more liquid.,
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No comments about the SNX problems with no product and their depeg of sUSD that is costing them millions of dollar to solve and have an impact in their finances.,
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No comments about what stops SNX to keep printing millions of new tokens and keep diluting us.,
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SNX treasury is mainly SNX, sUSD and related tokens. Not much stables to add to the table. I have asked for detailed balances but they just don’t answer.,
In the other hand Derive has 4M $ in stables + 1.3M $ in OP plus and undisclosed amount of stabled in the Foundation. Is quite obvious that the relative treasury of Derive is much better than SNX.
- We are told that SNX will bring market makers, liquidity and volume…, but the reality today is that they cannot even help themselves and their product is not innovative nor attracting volume today.