Today is another day of memes flying around, especially after I updated the small currency strategy today, almost several memes have risen sharply, while others have not risen much. Then we continue our 200-300 range projects to see if we can find 1-2 valuable currencies after talking about them. As long as we find one, all these efforts are not in vain, because the market value of this range is only 200-500 million, and it is very easy to increase by 10-20X. Today we continue to bring 3 projects, namely INF, HIGH and Sushi, which have risen well recently. 1.INFINF is an LST aggregator of SOL. You can understand it this way, and the token INF is strongly associated with SOL, so when SOL rises, it rises, and when SOL falls, it falls. So the current price of Sanctum Infinity is 206 US dollars, the current price of SOL is 171 US dollars, and the current exchange rate of his product is 1SOL=0.81 INF.
Infinity Pool and INF Tokens
Sanctum’s Infinity Pool is a multi-LST liquidity pool that allows swaps between all LST in the pool.
When depositing into the Infinity pool, users can deposit any whitelisted LST or SOL. In exchange, you will receive INF, a receipt token that represents your equity in the corresponding share of the total liquidity pool.
You can think of Infinity as a basket of LSTs, and INF as an index that includes some of the best LSTs in the space. Since LSTs are yield assets, INF is also, and its annualized yield (APY) is the weighted average of the staking yields of all LSTs in the Infinity Pool, plus the transaction fees received from the Infinity Pool.
The Sanctum Reserve is a significantly more capital-efficient way to liquidate LST than traditional liquidity pools. In traditional pools, the SOL in an LST-SOL pair is deposited by users who would otherwise earn yield by staking it. Additionally, each LST requires its own liquidity pool, which fragments liquidity across the ecosystem. The Sanctum Reserve frees up SOL in swap pairs for staking by providing a universal pool to liquidate any LST, while unifying liquidity across LSTs — all with minimal slippage. Simply put, all liquid staked tokens on Solana benefit from Sanctum’s Reserve.
In addition to the infinite pool, Sanctum has also launched trade, allowing users to trade various staked SOLs, such as Lido sol, Jito sol, Jupiter SOL, etc. There are currently dozens of SOLs, which are convenient for users to trade and circulate.
Token Economy
The current total TVL of SOL is 2.36 million. According to the current value of SOL, the market value is 470 million US dollars. The current official APY shows that the return is 11%, which is higher than the return you get by staking SOL yourself. So here you can see why SOL has increased more than ten times this year.
2. High street
Highstreet is a blockchain game, somewhat similar to Decentraland in the last bull market. This game was also released in 2021. It has increased about 5 times from the bottom to now, with a market value of 300 million US dollars and a ranking of 245+.
Introduction
Highstreet is an open world metaverse that integrates shopping, gaming, NFTs, traditional and cryptocurrency brands in an MMORPG game. Users can earn money while playing by completing tasks, participating in social events, socializing with players, and purchasing NFTs and real-world brands in the game.
In addition to crypto projects, brands such as Balenciaga and LVMH are also expanding their influence and entering the virtual world to open up new markets. As NFTs become more popular, many brands are further involved in the on-chain industry, such as Adidas has their own bored ape, and even Harvey Nichols has launched its own NFT. There is no doubt that the future of retail and commerce is entertainment.
However, brands do not have the capabilities to build and develop full-scale games, which is where Highstreet seizes the opportunity to define the next generation of shopping. Through Highstreet Marketplace, existing and new brands can leverage Highstreet to seamlessly build virtual storefronts in Web3 and the Metaverse. Highstreet World itself is an open-world MMORPG experience where the vast majority of in-game items are products provided by real brands.
Highstreet consists of the following main components:
Highstreet Marketplace: Users can buy and sell NFTs on the in-game Highstreet Marketplace.
Forever Fomo Duck Squad (Duck): In addition to being the official mascot and avatar NFT of the Highstreet world. These NFTs have the following use cases:
NFT Conversion: 2D NFT ducks can be exchanged for 3D ducks, which will transform in-game.
Highstreet Exclusive Clubs: Duck serves as a gateway to exclusive clubs in various Highstreet cities.
Staking Coefficient: NFT holders earn more rewards when staking than non-stakers.
Commodity airdrops and vaults open: NFT holders can access exclusive airdrops and vaults.
Asymmetric Gameplay: Highstreet will support players joining from a range of different platforms.
VR and PC: The flagship gaming experience is on the VR version. Users can also play on the PC version.
Mobile: In this game, the player will take on the role of a monster tamer, who will be the opponent of the adventurer in the VR/PC version.
Token Economy
Highstreet World is driven by two major currencies.
The first currency is the HIGH token, an on-chain ERC-20 token with a fixed supply of 100,000,000. There are currently 50,365,992 in circulation, with a circulation rate of 50%.
HIGH tokens are used to purchase basic items on Highstreet, such as housing, transportation tickets, and cosmetics.
The second currency is StreetCred, an off-chain currency that circulates only within the game. It is used to purchase everyday items in MMO games, such as weapons, armor, or healing items.
Highstreet’s MMORPG does not allow players to earn HIGH tokens by playing the game - the “earn as you play” mechanic works by crafting valuable in-game items and minting them as NFTs combined with cosmetics, which are then sold on the open market for rewards.
3.Sushi
This project is a copycat of UNI. To be honest, I don’t think highly of copycats because there is no innovation. They just take other people’s codes and modify them to become their own products. But it operates pretty well. Isn’t it amazing? In the cryptocurrency circle, you can succeed if you copy other people’s projects. Some people say that this is success? Look at its current market value of 300 million US dollars. Just imagine how you can achieve this market value by copying someone else’s code.
I remember that this project was mentioned in a previous program. Currently, SUIshi's TVL is 500 million, the total transaction volume is 270 billion, and it has been running for 1,372 days, so the daily transaction volume is about 200 million. In fact, we have calculated UNI's revenue before, which is about 0.5%, so it is about 100,000 per day. I have also roughly calculated the fee of its pool. The 24-hour fee is about 50,000 to 60,000 US dollars. Then we calculate it according to 100,000 (maybe a little exaggerated, but the order of magnitude is similar), the annual revenue is about 36 million US dollars, so the price-earnings ratio is about 8 times, which is very low for a project in the technology track. If you don't believe it, compare it with Apple, Microsoft, etc.
Even if the ratio of TVL to market value is 1:1, Uni’s market value ratio is still high, because with a TVL of 500 million, its market value should also be 500 million, but it is only 300 million.
Finally, let's summarize these three projects. All three have actually increased in value. There is no such thing as not increasing in value. The first INF is SOL, because it is originally an index token obtained by users depositing SOL, so there is nothing to sell. You can buy SOL to deposit the 10% return. The second is the metaverse game, which was played out in the last bull market. The only bright spot at present is that it brings together some big-name cooperation. If you can really let big-names open stores in your virtual world, then I think it may stand out, but it seems that many big-names are also doing their own metaverse, so the value of this token itself is actually not that high.
The third one is Suishi. Although it is a copycat, it is indeed good from the data level. Including the project mentioned earlier, we found that Sushi’s trading was actually quite good by pulling the data dashboard of Dune. At that time, we said that we had found a relatively good project. The price should have been relatively low at that time, but it did not rise much in this wave, and it also followed Uni. The performance was still relatively weak, and many friends asked if Uni was still okay. I think it is absolutely OK, no problem. #内容挖矿