A buy wall has formed on $FLR.
Additionally, there are two sell walls up to $0.0082. https://t.co/by39IlH2ko
A buy wall has formed on $FLR.
Additionally, there are two sell walls up to $0.0082. https://t.co/by39IlH2ko
Here’s some napkin math on @HugoPhilion’s ballpark estimate of FIRE capturing 1.3% of TVL in MEV Fees to buyback and burn FLR.
~1.3% capture on 400m TVL
~5.2m USD in buybacks
~705m FLR buy/burn per yr @ market
~300m tx fee burned
~1B FLR per yr at 400m TVL https://t.co/0skzIsJTky
If we reach a modest 1B of the lofty 5B target TVL and FIRE maintains the ballpark ~1.3% value capture the numbers look even better.
~1.3% capture on 1B TVL
~13m USD in buybacks
~1.77B FLR buy/burn per yr @ marketrate
~300m tx fee burned
~2.07B FLR burned per yr at 1B TVL
Interestingly, buy burns should have a compound positive effect as most of the yield on chain are subsidized by rFLR.
The loop is genius:
Buyback -> More Market Stability
More Market Stability -> More TVL
More TVL -> More FIRE Fees
More FIRE Fees -> Larger Buyback
flare-networks:native keeps burning every single day without slowing down. Another 1.7M FLR is gone forever today. If you’re thinking about selling at these levels, you might want to think twice. 🔥🚀