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Having enthusiastically followed Aladdin DAO for some time, we’re thrilled to see the outbreak of the f(x) Protocol $FXN Wars:
Of course, veToken wars don’t always ignite, but it can be good revenues for token holders when it works, as well as a great way to build connections.
Relatedly, no surprise that we’re seeing $FXN is getting added around the ecosystem.
The various products launched by Aladdin DAO are all individually brilliant. Where the broader strategy comes full circle is when Aladdin DAO can lean into synergies among all three.
f(x) Protocol, which brought a novel twist on stablecoins to the Aladdin DAO ecosystem, clearly benefitted the Aladdin DAO ecosystem. One need only reference the “stablecoin maximalism” thesis, which posits that every protocol will evolve toward needing it’s own stablecoin and related infrastructure. In other words, it’s stablecoins all the way down…
The obvious strategic next step? $FXN wars!
Given that Aladdin DAO already has mastery of the tools of war ($CLEV) and the battlefield ($CTR), it really brings everything 360 degrees. The broader protocol is building network effects in every direction among their product suite.
We’ve been particularly bullish on f(x) Protocol, as we’ve seen the insane demand for leveraged cryptocurrency trading amidst the market’s recent bullish turn. The ability to use $xETH get leveraged exposure with zero funding cost and low liquidation risk is a great product to cater to this demand.
The protocol is also proving a focal point of innovation. Most recently they’d been teasing $rUSD… “r” for “restaking?”