Euclid: underdog omnichain LRT protocol with an IDO at $2M valuation
Quote393 words
Barbell restaking strategy: back leaders like Kelp and underdogs like Euclid, whose team built Equilibria. Lays out IDO terms of a $2M launch valuation and 30% of supply sold on Bounce, April 2 to 4.
Key claims
ECL IDO at $2M valuation with 30% of supply
IDO window April 2-4 on Bounce Finance
ether.fi launched at roughly a $7B valuation
🚨 Omnichain Restaking Protcol IDO at $2M mcap in 3 days! 🚨
@eigencloud season is upon us and restaking protocols are gearing up for token launches that will be absolutely huge. @ether_fi with its $7B valuation out of the gates is first evidence, but this is just the start.
Placing high-conviction bets on the mid-long term winners in this space will change your life anon. 🚀 ✨
My strategy is simple and consists of two parts:
✦ Identify the market leaders (e.g. @KelpDAO)
✦ Identify the most promising underdogs (e.g. @Euclidfi)
While the two parts have different risk profiles, they also have a very distinct return potential. I bet on both.
Today, I want to elaborate on why @Euclidfi is my main underdog bet and how you can participate in the upcoming IDO on @bounce_finance.
The bull case for Euclid
First of all, the team behind @Euclidfi is really experienced in the space and has shown that it is capable of executing successful product launch in the past. The most prominent example is @Equilibriafi, the first yield booster built on top of @Pendle_fi.
@Euclidfi offers an omnichain liquid asset (elETH) representing restaked ETH assets and establishes a trustless and permissionless operator network inspired by @Rocket_Pool. It aims to enhance the accessibility, security, and decentralization of @eigencloud while fostering a robust and secure DeFi ecosystem.
What really sets Euclid apart from Competitors is:
✦ Focus on emerging L2 ecosystem
✦ Simple and gas-efficient solution
✦ Innovative use cases in DeFi (alpha coming soon)
✦ Auto-Compounding Restaking Yield
While the TVL is currently still far behind the top 5 restaking protocols, @Euclidfi offers a unique opportunity to get exposure to the restaking narrative at a fraction of the valuation of any other protocol in the space.
If they deliver on their vision and if the partner integrations across the DeFi space (a strong USP that the team can leverage with projects like @pendle_fi) continue to expand, this IDO will bring you huge multiples.
So how does the IDO work exactly?
✦ Token name: ECL
✦ Launch Valuation: $2M
✦ Supply sold: 30% will be allocated to IDO*
✦ IDO platform: @bounce_finance
✦ IDO period: April 2, 8AM UTC ~ April 4, 8AM UTC
✦ Eligibility: E-Points holders & $AUCTION stakers
* ) pretty huge and shows how community-focused @Euclidfi is!
Are you ready, anon? 👀
QUOTING @Euclidfi
Dear Euclid community, We are thrilled to share with you that the IDO date is now confirmed! Token name: $ECL IDO platform: @bounce_finance IDO period: April 2, 8AM UTC ~ April 4, 8AM UTC E-Points holders & $AUCTION stakers can participate in the IDO: 1️⃣ Whitelist Fixed-Pric
Dear Euclid community, We are thrilled to share with you that the IDO date is now confirmed! Token name: $ECL IDO platform: @bounce_finance IDO period: April 2, 8AM UTC ~ April 4, 8AM UTC E-Points holders & $AUCTION stakers can participate in the IDO: 1️⃣ Whitelist Fixed-Pric
What came next · since 30 Mar 2024
Since then
Zero has written 3 more pieces on $ECL since this one.
- Euclid tranched delegation: slashing protection for restakersCovers $ECL
- Euclid ECL bull case at a $2M IDO valuationBullish call on $ECL
- Euclid IDO breakdown: ECL tokenomics and $2M launch valuationBullish call on $ECL