The Markets are falling? Bitcoin can’t keep its head above 50k?? Well, it’s going to be a tough battle at this level, it’s a whales game. But in the meantime, we can do what Chico does best & research some altcoins. Some of the more unknown ones. Like lower cap. Are you ready for Chico’s altcoin mysteries? Well, you don’t have a choice. Because it’s time for Chico Crypto! Altcoins, Altseason, DeFi, Layer 2, NFTs it’s becoming a lot to handle.
Thousands upon thousands of altcoins. All claiming to be the next big thing, but a vast majority of them won’t even make a little dent in gaining a sustainable user base. Unless they are doing something different combining an altcoin, DeFi, layer2 or NFTs to create something never done before, that benefits the users. What type of altcoin is doing that?? Well, Today, Chico is going to do something a tad bit different we are going down into the depths of the altcoins. The place where there is much fish in the barrel, and finding a winner is like shooting a golden bullet into that barrel.
The majority of the time, you won’t find one.. but I like to think my research is a tad bit better than others in the space, but even with my years of research, there is still major risk with microcaps .. that is why I never risk a significant amount into these always keep it small, and expect to lose the investment microcaps get micro-investments from me if I lose it all, it doesn’t kill & if its a winner, shooting up in market cap ranking, you still get sizeable of the winning pie. So let’s begin, with the highest market cap of around 50 million & on page 4 of coingecko.
Lots of room to grow with this coin in my opinion, as you need at least a 150 million dollar market cap to be on page 2 of coingecko. And I think this project deserves to be up there. Who am I talking about!? That sticky BUN BAO. The hype has settled down from BAO it had a stellar release. Going from a super small microcap in the single million to peaking at 100 million. I said during the hype when it was smashing towards that 100 million mark, it would eventually settle down as it was like perpetual protocol, it had great layer 2 ideas.
It just needed to execute to that layer before that famed 100 million would be crossed. And BAO is executing! The XDAI pools are being deployed, a few minors bugs, but as we can see from the BAOman’s mouth, “Block rewards were pushed back one more day but the farms are working and stable. User deposits can start now. Yes, the crops are ready to be farmed on the day. They are moving exactly as planned, and the movement isn’t only being seen by me.
You guys should know BAO is within the Sushi ecosystem confirmed to be a project secured in their ambitious 2021 roadmap. Well if you remember, in the Sushi drama over the summer of last year the project almost failed, but guess who snuck in to save the day. FTX and Sam Bankman Fried so FTX and they are connected & this proves it even more. Sam noticed BAO yesterday. He tweeted that bunch more coins were added to the FTX exchange as collateral for spot trading.
Included is of course BAO. BAO connected to Sushi, Sushi connected to both yearning and FTX. They are planning something special and let me tell you the foundation is set for a sushi-supported synthetic protocol on Layer 2 & all we can say is bao chicka wow wow! But what about doing that right now? Trading of synthetics on XDAI’s layer? Well, that leads us to the next pick. Which is just a 15 million dollar market cap. That is DEUS finance. The DUES announced 48 hours ago this on Twitter “MAJOR NEWS: #DEUS is officially launching its decentralized trading platform in the next 48 hours.
You will be able to trade hundreds of stocks, forex and selected cryptos on XDAI without Time restriction! So that should be launching today, getting synthy with it on layer 2. I shot this video yesterday, so the synthetics version of their app was under maintenance, but as we can see TVL is almost 40 million. And I wouldn’t doubt, TVL will grow with the launch of a scalable synthetic platform.
As they have been trading pre-SpaceX IPO synthetic already for some time. Hopefully, the go-live runs smoothly for the other synthetics!! And now, we get to the bottom of the altcoin barrel, the true microcap. The one that isn’t even in the top 1000 on coingecko. Now, I wanted to cover this one yesterday, with my NFT video, but I was unsure and needed to do more research wish I could have done more because the coin was over 300 percent even when I made my first purchase.
That is NFY-Non Fungible Yearn. And as of yesterday, it was ranked 1252 on coingecko & up oh so significantly. Why would take a small dive into a coin that is up so much? Well, it’s still under a 2 million dollar market, and it’s doing what Chico likes. Taking NFTs and applying them to DeFi. Going to their website and application, they say they are the 1st DeFi protocol to utilize NFTs to make yield farming more secure & flexible by protecting the wallet & allowing the first transferable stake.
What this does is creates an eco-system where instead of a wallet address that represents a right to stake, an NFT will represent the right to the staked funds and the yield they generate. So you’ll be able to trade your staked tokens and future yield via an NFT. Basically, it Turns yield-bearing DeFi liquidity pools into NFTs. Which creates many possibilities. Like pre-baked and ready-to-go yield farming NFTs for the person, who doesn’t want to farm. Yield-bearing gaming NFTs, Art pieces that earn yield and so much more I can’t even think of you are giving NFTs underlying value.
DeFying the masses And its’ live, it has been since January 7th in its current form. The application is ready to go. The staking and unstacking with NFTs and the DEX for trading the tokenized stakes. So, who exactly is behind NFY, non-fungible yearn? Well, I want to go to this Twitter profile, not_cyotee.
They were the ones who tipped me off on NFY yesterday through research on Twitter. Yes, I use Twitter for some of my research. He tweeted this in reply to a fomosaurus posting this meme, about Yield bearing NFTs. They said “You know I’m bringing @NFYFinance along with our relationship through Olympus? @JeffExtor is onboard, and he invented NFT yield earning bonds.
$NFY was literally the first to do this. So the DEV is public, it’s Jeff Extor who was the first to create yield-bearing NFTs with NFY and going to his linked in, he is a solidity DEV from the greater Philadelphia area! Public Developer is a good sign, as there is accountability if something goes wrong! So the hype is strong with this ONE as it has the first-mover advantage but I want to go to this tweet from another NFY researcher on Twitter. Brian Beach.
They said “All this buzz around NFTs and $nfy needs to pamp. You can stake and trade #nfy and you can trade stake as an NFT. The governance contract is releasing next week and the contract for project integration is set for mid-March. Woah, so next week a governance contract and mid-march the project integration contact so it can be spread throughout DeFi? Can we confirm that?? Kind of going to their discord, there is developer JEeff Extor, and he said this February 17th “Governance contract is planned to be deployed early next week!
The contract that allows for project integration is in the works and planned for mid-March” And then he said this the next week, last week “Governance is coming soon! There have been some delays and had to get pushed back!” Soooo they have the first-mover advantage with the tools to create many types of yield-bearing NFTs, but also a DEX for trading those, and then they have big roadmap stops coming in March.
In my opinion, this could be a recipe for microcap success. So, even with the recent surge, Chico had to take a small risk with NFY. Like every microcap, we get into. A small risk. The same went with BAO, the same goes with Dues, and the same goes with NFY. Microcaps get micro-investments. Cheers, I’ll see you next time!