For friends of tangled colorful lines. Facts only, No hype, No financial advice, DegenZ only.
In the tech announcement of the IOTA channel, Antonio wrote on March 8 that there will now be regular further reports on the progress of EVM — development. It’s a very good move to inform the community. Even if it hurts a bit and was not the announcement of Beta-EVM. However, there don’t seem to be many hurdles left. That makes us feel a bit better again. Well balanced.
Our eternal and almighty king, Soon Wukong III, arrived to support us. Nothing bad can happen anymore. We can be sure that we will hear more from him soon.
Overall, there is unfortunately very little more to report that makes sense. Therefore, this time there are a few more detailed explanations in some sections and as an encore a new chart.
The floor has held up very well in the face of recent unpleasant price movement in IOTA. Measured only in GI, of course. All NFT trading on Soonaverse has become extremely quiet. So, we are no exception there.
There is not much to report. Since SMR has performed slightly less poorly than IOTA, this floor is not as negative in terms of SMR that would be paid for an Ape.
There are no significant movements to be seen. Everything has fallen. IOTA just a little bit more….
The numbers in detail:
Apes vs. IOTA: +133% (Start July 1, 2022)
Apes vs. BTC: +60% (Start July 1, 2022)
Apes vs. SMR: +99% (Start October 11, 2022)
Performance since the last NewspAPEr on March 03:
At the same performance as the OG Apes, the cryptos should be at the following prices:
Far away from $ — ATH. The value of the treasury has suffered a lot. Pity. Since there’s nothing to celebrate at this point, here’s a little deeper explanation:
When does the “Multi” move? — This key figure is, of course, essentially dependent on the floor. But price movements in SMR also have an influence since there is no peg as with IOTA. So, for example, if SMR rises, the multi falls, because then the total value of the treasury rises, and the floor — measured by IOTA in $ — remains identical. However, SMR currently has only a small share of the treasury (about 10%).
If the treasury continues to consist of 90% IOTAs, the Multi and the value in $ of the treasury will continue to be largely determined by the price performance of IOTA. But the floor remains the most important factor.
The next big change will be the switch to trading in SMR when fees are also paid in SMR and APEin.
Unauthorized hype: Later, when we make incredible profits and thus inflate the treasury, this will of course also be an important factor. All settings in the charts are already set to 9-digit numbers.
Multi according to the current treasury-value:
15 -> 4.4 GI / 12.7k SMR
20 -> 5.9 GI / 17.0k SMR
25 -> 7.4 GI / 21.2k SMR
30 -> 8.8 GI / 25.5k SMR
Actual value: 28.16
Behind the scenes
The development of the ApeDAO marketplace for trading OG Apes, Lil’ Apes and $APEin is almost complete. We are all absolutely thrilled. Maybe we should consider if the idea of having a similar liquidity market for NFT’s could be liked by other projects as well. This could be an interesting revenue stream. But these are not yet concrete plans, just ideas that are being discussed.
The Big Migration & a few explanations
The new possibility to log in to Soonaverse via TanglePay with its SMR or IOTA address creates a new challenge for us when migrating Layer-1 Apes to Layer- 2 (EVM). For Layer 2, however, a MetaMask address is required (example: “0xF54 … 7d9c”).
So far, we planned to use the MetaMask — address of the Ape — holder from Soonaverse also for the EVM — Apes. With the MM address we would be sure that the holders are uniquely identifiable with it. But now it is the case that those who purchase an Ape via SMR / IOTA authorization we don’t have a MetaMask — address known to us.
We need to find a way for those who purchase an Ape on Soonaverse with authorization via an SMR address to migrate their Apes to Layer 2.
… we will make it happen. But it must be supported from the side of the Ape — holders because we need a verified MM — address in any case. Otherwise, the Ape will have to continue its existence on L1. Maybe there will be no Ape — holder to which it applies. And if there are very few, we can certainly guide them through the process.
Many ask, why this complex migration, when it is also possible via Firefly to send its NFT to Layer 2. All Shimmer wallets will support the transfer of Layer 1 NFT’s to Layer 2 according to the ERC721 standard. However, this standard does not include additional features that have been added in the generally accepted standard “OpenZeppelin”. These are essential for DeFi, added for better application support and improved security and handling. It is considered an extension of ERC721.
To note: If you leave your Ape on L1, you will have a nice picture (poor fellow). If he lives on L2, you will have all the advantages and functions of ApeDAO (strong and healthy fellow)
In the NewspAPEr Vol. 2 it said about the EVM development that we might see an alpha version over 20. This is done. We had 8x alpha version 0.4.0, 12x alpha version 0.5.0 and now 1x alpha version 0.5.1 -> 21 alphas.
Today a graph about the history of the exchange rate from MIOTA to SMR. This will be published here at irregular intervals. For example, if it is otherwise boring. It’s all to keep you in a good mood. It could also be called “The Wild Ride”.
Made with ❤️ by Travetown.