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Another week, another good reason to hold at least some portion of BNB on the platform. If course, I would much rather that the BNB sits staked in my own private (non custodial) wallet, but the 7 day unlock time means that it takes too long to release the BNB for the time weighted snapshots that form the basis for the max allocation in these Launchpads. And these Launchpad events are definitely worth it! Either as a short term instant dump or as a longer term investment.
About a month ago, the first of the fan tokens launched with the LAZIO Launchpad. Despite the delayed distribution of Launchpad tokens, I still managed to take in a healthy profit from the initial dump. As I mentioned before, I have absolutely no interest or faith in fan tokens as they stand at the moment. I never get tribal enough about anything to feel like I need to throw money at overt 'tokens' (ha ha) of fanship or patriotism. In fact, I find that overt displays of such things quite distasteful and perhaps a cover for something else. I identify as myself, not as something external.
So, back to the topic, the Launchpad of the Porto fan token. This time, there was a bit more notice of the Launchpad. Roughly 10 days to the subscription, which meant about 3 days to the snapshotting process.
I was a touch too slow to think of it this time, but I will have to see if it worth u staking my onchain BNB in time for the last 3 or 4 days of snapshots in order to boost my Max allocation. However, given that I will forgo staking revenue and the max allocation is reduced to roughly 0.1% in real allocation... It probably isn't worth the hassle. Lazy route wins for me... But I should do the calculation, it could be worthwhile!
Anyway, as before the launch price is at 1 USD per porto token, with the actual BNB price being set shortly before the subscription. As always, read the rules carefully before heading out to Twitter and making a fool of yourself.
Snapshots of BNB occur for 7 days before subscription, which will determine your maximum allocation (check carefully which products are included, fixed savings are NOT!). You can lock up to your maximum allocation (up to the hard cap) and based on previous sales, roughly 0.1% will be actually converted to the Porto token and the remaining BNB staked will be returned to your spot account. It is amazing the number of people who fire up Twitter or telegram before trying to figure out how things work.
So, let's take a quick look at the 'research' (marketing) report. Don't kid yourself, this is not research... It is most definitely marketing!
Again, I do find it quite interesting that are creating their own fan token ecosystem. They had been quite closely partnered with Socios (CHZ) and are now quite actively in competition.
So again, the listing of use cases for the token are absolutely unappealing to me. I have seen that the LAZIO token has allowed fans to vote on the colour of the BINANCE logo on the team shirts. Sure, there appear to be other perks... But the value of these tokens are highly dependent on people with a vastly different world-view to me. I'm happy to get rid of them... Win win?
Of course, there is every chance that I'm completely wrong and that these tokens will have more value to a hard core fan than I will ever know, the fan market is best described as irrational! Taking a quick look at the old Socios fan tokens shows that some of the big club tokens are roughly at 10 euros whilst the majority are around 1 to 2 euro. Clearly, there is quite a range, and I would prefer to take quick profits in the initial volatility to recover the investment and to shunt the profits towards things that I find more worthwhile. Again... There is no reason that I am right in the long term, just that I'm not keen to play with tokens that I have no understanding of their intrinsic value. But maybe I should hedge and keep a small moonbag...
One advantage of the Binance fan ecosystem (aside from the massive financial backing of Binance), is the use of the BSC blockchain. Like it or not, the Ethereum (which Socios is housed) blockchain is not so much fun for most people to use at the moment, especially if you are a newcomer to crypto!
10 percent of the total supply is allocated to this Launchpad, and at launch, it will be about half of the freely liquid tokens on the market. Given that all of it will be on Binance, expect crazy volatility and dumping in the opening hour. Don't buy... You will get hammered by bots and dumpers (and people never learn...). If you are a friendly fellow dumper, you should take some tips and tricks from my earlier post
If you prefer your numbers to be in an easily digestible and colourful format, here you go! Again, you can see that the release of the tokens is quite heavily in the favour of the Launchpad users at the start (November 2021)... and again, given that most will have huge multiples on their investment in the first hour of listing, you can expect that there will be heavy profit taking... don't be the dupe that buys at launch!
What I did find curious was the EA Sports partnership... hmm, gaming and fan tokens. This is pretty interesting, and could be a case for the longer term holding of the token... that said, I will still restrict my moonbag to be around 10 percent of my allocation. I still don't believe in betting on specific applications in comparison to larger protocols... in this case, I prefer to back BNB over the individual fan tokens. Of course, the individual application tokens will perform much better (or much worse...) but I find the backbone tokens to be a better bet.
It is a bit odd that hey also list all the financial activities of the Porto football club at the end of the "research". It sort of creates a misleading impression that the fan token has anything to do with this... I think that people can be misled easily into thinking that the fan token has any real input into governance or financial stake in the company. The governance aspect is more like a blockchain version of polling the fanbase... with a weighting towards oligarchy. A bit of a worrying trend where economic might is seen as a proxy for democratic representation.... lets hope that doesn't go too far!
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