Tomorrow, Jan 21, 13:00 (CET), lock your $VIRES to start receiving protocol revenue. 24 hours till the program start! Learn more in Vires latest blogpost.
What will happen with the team token of the Vires team? According to the blogpost they hold 80% of all Vires. Will they lock theirs immediately too? Are there any plans to sell those tokens on the market?
Can someone help me find it on http://dev.pywaves.org/assets/
It does not appear on the stated issue times 11.10.2021
How high is the re issuance rate and is there any burn rate to counter inflation? Update: 1087 per day around 400 000 Vires per year inflation.
max supply is 10 000 000 and APR from platform revenue is 84% on 346 500 circulating supply.
Market cap is $21 million and depending on inflation rate to 10m max cap it means if APR is sustained Vires is trading x50 below fair value according to P/E revenue model at $63 and may increase to $2000-$4000.
At P/E x30 and 10m tokens fair value is $50 (year 2047)
At 346 500 supply it is trading x30 below fair value on $50 and should trade up to $1530 fairly quickly. After 1 year issuance (february 2023) fair value is lower $700.
Seems good buy at $50-$60 (6000% apy)
https://waves.exchange/trading/spot/VIRES_USDN
Update 1:
APR is 7000% on 4 locked tokens but true APR tomorrow is somewhere between 250%-650% on 50k.150k locked Vires. But you can imagine what happens to price if so much is locked from market, it will catapult x10.
Within 12 hours you get either x10 on your money when buying $50 or 1000%+ apr, both are very good.
Update 2:
APR doesn't make any sense.
Update 3:
Daily protocol revenue is $49 000 with 5000 locked Vires and that is why APR is 6000%+ (5000x$59x60). If 5000 more Vires enter protocol today, naturally APY goes down to 3000% because now there is twice as many tokens to share revenue on. On max capacity 262 000 Vires locked the true APY per token is 19 cents and $2 when 10% locked. So if you lock 3 tokens today at $52 the APY returns it in 1 month when 10% capacity and 10 months on full capacity. The true value is somewhere inbetween 1 to 10 months to return money invested at $50. It displays 6345% on 3 vires locked I don't know why they are not accounting for all the new Vires that will flow into the protocol today after 13.
However, the base price of Vires will increase if 262 000 tokens are locked so the APY goes down but your base investment will probably go up alot, x10 or more, if you buy here at $50.
Update 4:
https://wavescap.com/asset/VIRES/richlist
Conclusion:
Waiting for final APR and evaluating stability to ensure no rug pull and by the way is the $1bn liquidity audited, does it exist?