PREPARE! Airdrops BIGGER than Uniswap Incoming Soon!! - YouTube

Yes, everyone wants instant gratification.

A trade that starts moving right after you pull the trigger to invest.

Altseason, which we have been in for some time, is a time of the year where instant

gratification becomes the norm….but those who instantly think gains will arrive, will

be the ones rekt the most when the fun ends...but there is a way in these markets to identity,

what is going to be big, before it’s big….and that’s by watching this channel, because

it’s time for Chico Crypto!!

Stablecoins, they are the hot topic as of now.

Yesterday, I covered a multi collateral stablecoin competitor to makerdao’s multicollateral

dai.

That was the unit protocol & if they become apart of the yearn ecosystem, big things for

USDP!

But, one of the criticisms of multicollateral stablecoins, including USDP and multicollateral

dai is the fact that permissioned stablecoins are a part of that collateral.

It takes away from the decentralization of the coins.

Some say that single collateral dai was better than MCD...because only the fully decentralized

Ether could be used as collateral.

Unit protocol is better, as they had more collateral options out the gate, but still

those stablecoins, permissioned, reduce decentralization….

Where has all the decentralization gone?

Well it’s coming back in the form of not dai but Rai….Rai from Reflexer Labs.

And Rai just went stealth live on the mainnet yesterday...

As we can see from the blog post headline it says “Crypto native stability backed

by ETH and available for all”

Yes Rai, only uses ETH as collateral.

That is it...and that is how it will stay.

So what is Rai??

Besides a ether collateral stablecoin?

From the team's description “After almost a year of testing, simulations and building,

we’re thrilled to announce the launch of RAI!

RAI is an ETH backed, non pegged stable asset whose monetary policy is managed by an on-chain,

autonomous controller”

It’s ETH backed, but it’s a non pegged stable asset.

What does that mean??

Non-pegged stable??

Well Dai is a pegged stable asset, it is pegged to 1 USD.

Dai is always fighting to hold that PEG, 1 buckerooo….

Rai, does not hold its peg to 1 dollar.

What???

So what does it hodl it PEG to?

Well Rai is a free floating stablecoin, so that is to be seen.

But they did run a testnet, for a year, then a mainnet demo, with ProtoRai, aka PreRai...the

mainnet demo lasted for 3 months, it ended on January 25th.

During these 3 months, Proto RAI showed how a stable asset can lack a peg and instead

have its redemption price float in response to market forces.

PRAI’s redemption price started at $2.015 and then floated between $1.937 and $2.06….not

a bad variation of stability, especially when there were no professional market makers,

almost no liquidity and a lack of arbitrageurs to make PRAI significantly more stable.

Also during the demo, ETH went from about $400 to $1400, a 350% increase, while the

redemption price fluctuated less than 4%.

So now that Rai, has dropped the P and is live on the mainnet, these market forces,

professional market makers, arbitrageurs, and lots more liquidity could make it even

more stable, with less than a 4 percent variation.

But that is to be seen, as of this video, it's only been 24 hours on the mainnet.

So, I’m sure many are looking for the token symbol RAI...but realize that RAI is just

the stable asset of the protocol.

You would get into RAI, like you would get into DAI, if you want stability.

But, people actually need to realize this, RAI is this protocols DAI.

Reflex forked makerdao to create this...which means this protocol, has a governance token…..like

MakerDAO has Maker…

So what is the governance token?

Well in their mainnet blog post, they speak of liquidity incentives and say this “In

the next couple of weeks we will announce our liquidity mining program for the RAI/ETH

Uniswap v2 pool.

At that point, we will also reveal the Reflexer ungovernance token, FLX”

They continue “In the meantime, we’re not saying that there will be retroactive

mining rewards for the initial cohort of RAI/ETH LPs, but we’re also not saying there won’t

be” and then they say “Before the liquidity mining announcement, you can test our Kovan

liquidity mining dashboard.

So they have the liquidity mining dashboard on the Kovan testnet, ready to go...but the

big point is this “we’re not saying that there will be retroactive mining rewards for

the initial cohort of RAI/ETH LPs, but were also not saying there won’t be”

So that means, FLX could be airdropped to those initial people providing liquidity to

the RAI liquidity pool on Uniswap.

It could...

So how does one go about doing that??

Well 1st you need to get RAI to add to the LP on Uni. 2 ways of obtaining rai right now.

You can trade on Uniswap for it….just make sure you are on the right Rai & is the confirmed

trading pool or just like Makerdao, you can create RAI, creating a safe aka a rai leveraged

position, similar to makerdao CDPs.

You put in the amount of ETH you would like to put down as collateral.

Per example 3 ETH, which gives a max borrow limit of just over 1195 RAI.

If we borrow only 500 RAI we get our RAI redemption price, our collateral ratio, and our Ether

liquidation price.

Our Safe would be liquidated at an ether price of 759 dollars.

But if we push up our MAX borrow for RAI, that collateral ratio drops significantly,

and our liquidation price rises significantly, if Ether drops to only about 1814 dollars,

this safe would be liquidated.

Way less wiggle room...than the 1st choice.

But with the 1st choice you get way less Rai.

So, RAI is now obtained.

How do you add it as liquidity to Uniswap?

Well back to the official Rai Uniswap information page, they have an add liquidity section.

Remember, with Uniswap LP pools, you need to put an equal value amount of the token

in RAI, and Ether….You need to add 2 assets to the pool.

And that is how you Could be air dropped their ungovernance token, FLX.

So, I’m not saying anybody should do this without understanding the risks of everything.

Rai, and Reflex is brand new, it has major risks as a new DeFi protocol and concept.

Rai Safe’s are leveraged positions,understanding those and CDPs is critical if obtaining RAI

through that way.

And finally it’s possible they don’t even do an airdrop...they didn’t say they were,

but they didn’t say they weren’t.

But, the past of aidrops, for big DeFi names, shows us joining in on the action early.

Could be very profitable...Uniswap, the big ole airdrop that started the trend...it initially

surged, dumped….but has fired up & kept on a surging to BIG levels.

Similar story goes with 1inch, they dropped, initial surge and dump, but it has moved & gone

to higher levels!

All of this happening on a shorter timescale

And the more recent one, TORN, from tornado cash...which the tokens recently got unlocked

for trading.

Initial surge, a dump but it’s already finding its footing on a much shorter time scale than

even 1inch.

I have a feeling FLX, will follow a similar fate.

And the hype may be stronger for this one...Why???

Well another token, who did a testnet airdrop reward..as we can see from their public sale

announcement blog, in token distribution, 9 percent of the community allocation, went

to testnet indexer rewards....I remember, I covered it.

Well the graph has followed a similar fate as well….looking at it’s price, after

it’s initial launch, it had that pump, and then settled down, but since….it has surged.

Well guess who the graph was specifically tweeting about here recently?

When they were in stealth proto mode?

Well December 2nd, with a tweet that only got 47 like, the graph said “The first on-chain

PID controller is live!

Check out the reflexerfinance mainnet demo for Proto RAI & manage PRAI positions with

this epic dashboard!”

So, that is bullish the dominant force that is the graph is tweeting about them and their

PID controller, but it makes sense as if you go back to reflexer app, and click your address...it

defaults to a blockchain connection through a the graph subgraph, but you can change to

an RPC endpoint if you woud like…

And I notice things in the industry, like others don’t...Someone decided to tweet

about Rai at the end of the premainnet...Charlie Noyes.

He said “The future of finance” with a slick meme...but who is Mr. Noyes??...He’s

only the investment partner and dedicated researcher for the paradigm capital….one

of the largest crypto VC funds in the space.

Ran by the co-founder of Coinbase, Fred Ehrsam, to this day executive board member….

So Rai is coming, but...you guys, please don’t think Chico doesn’t have a token that is

trading.

For those who have stuck around.

We have something SWEET!

Pooltogether, the no-loss crypto lottery, airdropped their governance token yesterday!

And of course, many Chico members should of received this drop, as I covered it in July

of 2019 for the 1st time & here is what I said….

So, check your wallets, and HODL this one..because of who they are connected too.

There were two projects the certain companies USDC bootstrap fund invested into back in

april of last year.

The investor was Coinbase...the 2 crypto companies?

One is the nearly 1 billion dollar market cap Uniswap…& the other is the under 15

million dollar market cap Pool.

You get my drift….