Seems like Boo is getting some attention these days. It has been a "flagship" AMM on FTM for a while now but I'm still skeptical about Uniswap-like tokens.
It's no coincidence that someone got in big as soon as they understood the tokenomics, that is for sure but I just can't seem to find the underlying value just yet.
As a token holder, you don't get much value out of the token itself beyond governance and a very small percentage of the fees if you are staking. This applies to all tokens so I'm not trying to single out Spookyswap in any way.
Without an increase in exchange fees, the long-term value of all AMM tokens will have to go down IMO. Even at 10% APY many of these are highly overvalued with BOO actually looking good when compared to others.
Fully diluted MC vs TVL is at 0.28 while Uni is at 1.77
My holdings aren't significant enough to make an informed guess but just out of pure logic I'm finding it hard to see how I'll extract $16 from 1 Boo token even if I give it 3-4 years' time. If I lock it for 12 months and the market tanks no APY will be high enough to cover those losses.
Yes, there is some long-term potential in all of them but we still don't have a useful valuation model because TVL vs MC doesn't make sense in every situation.
Would love to know how others are estimating price ranges that are considered a good buy for any of the AMM tokens out there.
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You have made some good points and I will not pretend I have answers for them. Overall, my view of this new "virtual world" is there is a lot of "hopium" built into it. We'll all see, in time, how "real" it is.
For now, I intentionally look for platforms that appear to have at least some semblance of real world sanity (as much as I can discern anyway, without being a dev ...) involved in their construction. At least at that level, I think SpookySwap has some attributes worthy of a closer look ...
Thank you for providing this comprehensive reply, even if a bit "contrarian" to this post. I don't mind that at all. I actually prefer it. I wish there were more of it "allowed" by the uhhh ... "big boys" ... But, like you, my stake is not significant enough to have an impact, so ... I just do what I can, here and there ...
Onward and upward! 🦁🚀
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So far it seems that we are all doing the same thing and that's why I was asking if there was any other perspective than the one we already have. And you can't really know that unless you discuss the good and the bad.
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Yes, agreed. That is the way progress is made, from the experience base of my long professional life. As long as it can be done civilly and respectfully ... Which seems increasingly rare these days ...
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