I briefly touched on Our Glass the other day and how it and Safemoon are reshaping the way Decentralised finance operates and provides yield to investors. Unlike traditional staking the system implements a fee on each trade. Purchasers are charged at a 10% slippage rate which splits the fee in half.
5% of the fee goes to liquidity and another 5% goes to people holding Glass in their wallet. The website states that this process will continue to raise the price of glass and ensure liquidity is constantly provided.
The project is only a few days old at writing with Q1 2021 focusing on concept development, Q2 branding, Website and launch including social media. Q3 will consist of an Ultra Staking Air Drop security test.
Glass is currently only available on Pancake swap and the best way to access it is through Trust Wallet or Metamask.
The token has been doing OK over the past few days and actually growing nicely as it currently sits at a market cap of $US9 million. To claim your staking rewards you don't need to do anything other than hold it in your wallet. Similarly to safemoon.
I'm not too certain of how well the token will fair as it has a huge circulating supply as listed on their website of 939 trillion. Now I know you might be put off from the high circulating supply but I'd point out that Hive, Leo and many other tokens have an unlimited supply and are 50c. I think the age of assessing a coins value based on circulating supply are ending. Yes if we look to dodge for it to reach its current price it has a market cap of 46 Billion. A market cap of that size would only bring Our Glass to a price of 0.00004 (rough estimate)
The project is also undertaking regular burns which can be seen at this BscScan Link
I've found their Twitter to be alot more informative with information regularly being provided and purchase updates which is quite good and there is a relatively good amount of engagement.
I think the high circulating supply is a great way to get alot more people involved early on and helps prevent whales moving in and filling bags of stock. If they do this it rapidly increases cost and provides liquidity to newer investors.
Our Glass website is still relatively vacant but has abit of information and you can find it Here
If you're wishing to purchase the token it's contract is: 0x9c9d4302a1a550b446401e56000f76bc761c3a33
Which can also be found on its website for reference and double checking.
Opinions and thoughts?
I think the current model of never ending supply and decentralised finance is new, and the token doesn't have much of a use case at current other than yield farming. I'm not sure it will morph into anything further down the track and if anyone else has more information I'd be welcoming to read it.
I think the new models being rolled out will delay rapid price increases and heavily relies on purchase and sale of the token. In time the burn effect as stated will constantly lift the Glass bottom but if you're looking for a quick turn around I don't think Glass is that kind of token. I'd anticipate at least a minimum hold period of 5 years before we can conceive a 1c token price.
I'm interested in following this token and it's relatively cheap entry point is a great way for me to throw $20 at something and just wait it out.
Let me know your thoughts on our glass and if you've thrown any cash at it. Where do you see this project in 5 - 10 years time.
