We are almost 2 weeks into 2022 and your boi hasn’t done a top altcoin video.
Right now seems like the perfect time, as Bitcoin bounced off what looks to be it’s
bottom.
There’s still altcoin opportunities out there, you just need to know where to look.
This channel is a great starting point for your altcoin search…but remember…this
is not financial advice…this is time for Chico Crypto!!
Yes, today Chico is going back to his roots.
Bringing you that fire altcoin content that no one else in the space can compare with…because
our content isn’t written by writers, our research isn’t done by others.
It’s Tyler of Chico through and through.
Real recognize real….
Sooo let’s begin with our #1 pick…of which none of the mainstream tubers are talking
about but they all will be soon.
I’m talking about Pocket Network and their token P-O-K-T.
So what is the Pocket Network?
Well we need to learn about why it’s needed.
Now all dApps-decentralized applications need a way to communicate with blockchains.
Without a means of communication, dApps won’t be able to access information and make transactions
on the blockchain on which they operate.
This connection between the blockchain and the dApps is facilitated by what is known
as RPC, remote procedure call nodes and endpoints.
Now, these nodes and endpoints for calling blockchains and even IPFS has become centralized
over time.
There is one player in the space, of which over 90 percent of dapps use for their relaying.
That is Infura, as it’s simple, developer friendly, and either free to use, or extremely
cheap…but it is centralized…and it’s become a chokepoint if it goes down.
Which it has in the past.
November 11th it went down, shutting down dapps across the board, and even exchanges
went down, which relied on Infura for deposits and withdrawals from the Ethereum network.
So what does this have to do with Pocket network?
Well Pocket can be considered a decentralized Infura.
It’s a blockchain agnostic middleware protocol that allows applications on one side to be
supported by a fully decentralized and unstoppable network of nodes.
Calls and relays aren’t processed by a single entity, but by a network of over 15 thousand
nodes.
And guess what?
When Infura went down, Pocket was running and functioning…able to connect dapps to
the Ethereum blockchain.
Actually Pocket has had constant uptime…. in the event that a node goes down within
Pocket, any queries to that node are automatically rerouted within the network to another node.
Now Pocket and it’s network have been going parabolic.
Throughout last year, the number of relays just grew and grew.
In January there were 136 million Relays, by August 563 million, October 1.7 billion,
and by the end of December, there were 5.7 billion relays.
And that’s because they aren’t only on Ethereum anymore.
Pocket supports gnosis chain formerly xdai, polygon, solana, avalanche, binance smart
chain, harmony, fuse, and IOTX.
Dapps far and wide are understanding the importance of pocket, and are using it…which has caused
it to become the 2nd highest blockchain for protocol revenue, as we can see since August
of 2021 to today, it has overtaken helium, solana, and even avalanche.
Those revenues by the way are going to Pocket node runners…
So some of you may have been searching, looking on Coinmarketcap or Coingecko for the token
P-O-K-T.
Well you aint gonna find yet….the token has only been available through person to
person sales, or through OTC channels.
Although it does look like it’s hitting some exchanges very soon.
Yesterday, Gate.io announced an exchange airdrop of 40,000 tokens to their users.
They wouldn’t be airdropping tokens, unless they were planning a listing soon.
And we should also know, wPOKT is coming wrapped pocket.
The erc20 compliant version of their token.
Which means DEX listings and the fair launch of wPOKT on Alchemist’s copper launch platform!
Now everyone should know, a big release helps a token go up in price.
A mainnet release, a staking release, or an upgraded version of the protocol, that bring
new and advanced features.
My next pick, has a big release…an upgraded version of their protocol which is coming
very soon.
And that is the Ocean protocol…
January 5th, the Ocean twitter tweeted it.
That version 4 of their protocol was coming soon…
So what is v4 bringing exactly?
Well going to this Ocean blog posted February of 2021, they are sticking to their roadmap,
and shipping v4 in q1 of this year.
But from the roadmap, v4 solve’s rug pulls, it allows DATA ntfs, and better community
monetization options!
Now DATA ntfs, in my opinion is the big one…so what are DATA NFTs?
Well from this Blog, posted in December founder Trent speaks on this explaining with an example.
He said…
“Say when you publish a CSV file holding your DNA, you are claiming that you have copyright
on that.
For example, you publish the DNA data that you own– you should have all the rights
— it creates a fungible datatoken.
This means everyone gets a license whenever you send them the license.
“What Ocean V4 does is, when you publish just this claim initially, that is a single
NFT.
It’s a non-fungible token because you can’t make copyright fungible; there’s only one
entity that has control of it.
So we’re going to explicitly have it where it’s represented as a token, rather than
implicitly with whoever published the contract, and that’s what Ocean V4 does.
But what that also does, you can still have the sublicenses against that, the fungible
tokens.”
Now this means that the DATA is owned by you…through a single NFT.
But that data can be licensed out to others, though fungible tokens….those represent
sublicenses that entities can use and purchase from the data owner.
So when is v4 coming?
Well real soon…a supply datafi, @supplydefi on twitter found the v4 migration library
within Ocean’s github and if we go back to that December blog and talk with Trent,
we can see they said within it…”The target for Ocean V4 is mid-January 2022”
We are getting close to mid January, so I would expect it to be released any day….
And soon it’s time to cover not necessarily a single token, but a batch of them.
I have a feeling a trend is going to take over the crypto markets,and Chico is usually
pretty good at spotting trends…before they are trends.
But before we get into that, it’s time for a sponsored segment of this video brought
to you by the team out router protocol and like always the full details of agreement
can be found in the description!
But first, it's time for another sponsored segment of this video brought to you by the
team at Router Protocol… and like always the details of our arrangement can be found
in the description…
With the explosion of DeFi an increased number of layer-1 and layer-2 solutions are on the
rise… though we don’t know who the final winners will be, it's becoming more clear
we’ll be living in a multi-blockchain world.
The introduction of these new ecosystems over the past year has led to significant liquidity
fragmentation across these various blockchains causing each solution to operate in a restricted
and isolated infrastructure unable to access the liquidity and functionality of the other
chains which has slowed the industry from reaching it’s true potential.
To solve these issues multiple bridging technologies have been released in recent times but most
function as simple one-to-one bridges, are limited in their capacity, are highly centralized,
very expensive and can lock users assets for extended lengths of time…
Router Protocol has introduced a truly cross-chain solution that can also prevent the fragmentation
of assets by mapping them across multiple chains in an equivalent manner by creating
their own Cross-Chain Liquidity Protocol (known as XCLP) an extensible multi-directional bridge
that connects current and emerging layer 1 and layer 2 blockchains, including non-EVM
blockchains like Solana, Algorand and Terra.
Router also released a multi-chain DEX built on Polygon called Dfyn that will eventually
be launched on every layer 1 and layer 2 blockchain to come, further expanding Router’s infrastructure
and capacity to execute their multi-chain solution.
The Router XCLP can plug into any DEX, wallet and blockchain allowing for any token to be
swapped for any other token across all blockchains and with Routers proprietary pathfinder algorithm
each cross-chain swap is routed to ensure the best price is found every time… users
funds are never blocked and settlement is guaranteed on all transactions.
Router has also made cross-chain swaps cheaper with Unified Gas Fees - When a transaction
is being processed through multiple chains, every step requires a gas fee to be paid in
a token that’s native to the particular chain.
Router’s XCLP will simplify this fee for users by incentivizing them to pay the gas
fee only once, paid in their native $ROUTE or $DFYN token.
In addition to asset transfers, Router Protocol also enables the flow of arbitrary messages
across chains in a secure and seamless manner allowing for new capabilities for cross-chain
solutions like the ability to transfer NFTs, enable a flow of liquidity across chains to
borrow, lend, provide liquidity and even perform cross-chain governance.
Router launched it’s token and XCLP testnet last year, alongside it’s DEX, Dfy… since
then Router has been tirelessly abusing their testnet and gone thru multiple security audits
with Certik, Halborn and Hacken and are now ready to bring the Router Cross-Chain Liquidity
Protocol live to mainnet on January 27th.
Make sure to visit their site, find them on Twitter and get plugged into their Telegram
channel before the mainnet goes live and the rest of the blockchain world wakes up to what
they’re doing…
all the links for Router can be found below!
Now back to that trend??
What is it?
Well I have a big feeling that options will be huge this year.
With the volatility we are already seeing just a couple of weeks into the year…the
ability to easily hedge your portfolio against it, will become a huge trend…
And Messari research, actually put out a really great infographic of some of the top decentralized
options protocols out there grouping them together in categories.
Structured option products like Ribbon, StakeDAO, and others.
Order Book marketplaces like Opyn, and a couple Solana based ones.
And then Liquidity Pool based marketplaces like Hegic, Premia, Dopex, and Lyra…
Soooo, who is my top pick out of these??
Well I’m looking for the one who is undervalued.
Meaning they have one of the smaller marketcaps, yet is pumping out significant options volume,
and they have the best user interface in the options space…and are innovating, doing
what the others are not…
That is Lyra, built on Optimism’s Layer 2.
Similar to spot AMM like Uni or Sushi Lyra allows traders to trade against a pool of
capital.
Liquidity providers lock capital for 29 days.
This is used to provide collateral against options sold to traders & buy options sold
by traders….
So what makes Lyra different?
Well a crypto testers on twitter explained it well.
They said “Lyra is arguably the most ambitious project in the options space at the moment.They
are not only building vaults that sell options - like all option protocols in DeFi today.
Lyra is building a real option DEX where users can BUY & SELL options.
On L2
Yes they are innovating, building a real options dex which features everything…
Because of this, we can see from this Chart, Lyra is one of the fastest growing options
protocols out there…since October it has exploded, and swallowed up market share.
And compared with the others, who have a token like Ribbon, Dopex, and Hegic…Lyra has the
smallest market cap.
Can you say bullish?
We can…cheers I’ll see you next time!!