For friends of tangled colorful lines. Facts only, No hype, No financial advice, DegenZ only.
Currently there are discussions about how we migrate the OG — Apes into Layer 2. We have 2 options to choose from.
- The migration of all OG Apes directly into Layer 2 after a snapshot. In this case the collection would be archived at Soonaverse and no further trading would be possible there. At least until Soonaverse supports our Layer 2 Apes.
- The migration to Shimmer. In this case, the OG Apes would still be tradable on Soonaverse and the migration to Layer 2 would be voluntary.
Both methods have advantages and disadvantages. Or maybe there is another option after all. Our big hope is still that the full required functionality will be provided by the IF. I have already written about this in the last NewspAPEr. Since this is a very important decision, all positive and negative points must be considered.
Given the very poor market situation, the floor has held up very well at between 7,450 and 8,300 MIOTA.
The floor converted from MIOTA -> $ -> SMR has increased to 27,800 SMR due to the even worse performance of SMR. I don’t know about you guys, but I don’t like it.
The mighty old crypto father BTC has been beating us up. Mercilessly, the Alts and especially IOTA & SMR were punished against the performance of BTC. A new all-time low in the pair MIOTA / BTC is already painful.
The numbers in detail:
Apes vs. SMR: + 132% (Start October 11, 2022)
Apes vs. MIOTA: + 119% (Start July 1, 2022)
Apes vs. BTC: + 23% (Start July 1, 2022)
Performance since the last NewspAPEr on March 10:
At the same performance as the OG Apes, the cryptos should be at the following prices:
SMR: $ 0.1406
MIOTA: $ 0.4744
BTC: $ 34,787
The “forgotten” SOON in the treasury (approx. $ 5,000) were subsequently integrated into the overview. As a result, the value of the treasury and the Multi have changed accordingly. All SOON are staked. SMR’s share was increased by 5 swaps from a total of 35,000 MIOTA in 124,314 SMR to 220,390 SMR. Ratio: 1:3.55. In the medium term, the SMR share is expected to grow to about 25%.
After the migration of the OG Apes to Shimmer, the fees will also be paid in SMR and APEin. Therefore, gradually the share of SMR and APEin will increase. To have an overview of the current distribution, an additional chart was created.
Current distribution ($)
APEin …. still waiting
Multi according to the current treasury-value
15 -> 4.7 GI / 16.7 kSMR
20 -> 6.2 GI / 22.3 kSMR
25 -> 7.8 GI / 27.9 kSMR
30 -> 9.4 GI / 33.4 kSMR
Actual value: 24.99
Behind the scenes
A remark at the release of WASP 0.6.0 Alpha 1 has caused attention. There it says: “Breaking changes to clean the codebase one last time with workarounds for legacy chain deployments.” This could indicate that the development is already relatively far advanced. The hope never dies.
Lately, I’ve been giving some thought to the future presentation of the Floor. Once the Apes will be available on various platforms, it will be difficult to determine a floor. Therefore, as soon as trading via APEIn is possible, the floor will be changed to the APEin / SMR exchange rate. The only safe way is to use the price of APEin in SMR and then determine the floor accordingly. OG Ape 500 APEin and Lil’ Ape 100 APEin. This is then used to calculate the floor in SMR, $ and MIOTA.
Probably the most expensive (rarity etc.) Apes will be offered for sale above the floor on the marketplaces and “normal” Apes will rather be exchanged for APEin on the ApeDAO — Exchange. The APEin can then be swapped for SMR / MIOTA / ??? on a DEX. Therefore, a floor calculation over APEin is fairer.
Possibly, the price of APEin the first period will move a lot. Therefore, a small cooling down period may be useful. Wait and see. Of course, the floor overviews for Lil’ Apes will also be available then.
Ledger — Extension
An interesting news is the Ledger — extension for iPhone and Mac Desktop (Safari). This could also become interesting for us in the future, as soon as other networks (currently only ETH and Polygon) are supported. Especially for the iPhone — users we then finally have support for the Ledger, which MetaMask unfortunately doesn’t offer.
However, we could already use this today to identify ourselves on other platforms with our ledger account. First, these platforms need to consider this as well. It already works at https://guild.xyz. The world’s best ApeDAO specialists will be watching this.
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