Comments on the Elastos CRC Proposal #70
Yesterday I had a meeting with CreDA’s CTO KEVIN WANG (also an Elastos investor) and ELATION STUDIOS to discuss Elastos’ market strategy for next year. We found that there is a clear correlation between the TVL and the market value of these public chains. Here are some examples: Ethereum TVL $155.2b Market cap $482.3b; Avalanche TVL $12.65b Market cap $30.62b; Solana TVL $11.8b Market cap $55.7b; BSC TVL $17.02b Market cap $88.90b. Please be aware of this correlation when making up the marketing strategy.
The most obvious difference between Elastos and these public chains is the TVL. The TVL on ESC is only about $5M. Therefore, the most solid criteria to measure the success of the ELASTOS metaverse based strategy in 2022 is whether the TVL of all digital assets on the ESC can be promoted to a level above $1.0 B (FilDA TVL hit $2.0B in the first half of this year, so this is a feasible target). Specifically, the EF buyback program for 1M ELA and the upgrade of the DPOS mechanism is a big opportunity for us to add more liquidity into the ESC. We need to make full use of this opportunity to design a solution to benefit the ESC ecosystem. Also, we hope GSR can raise up the ESC TVL by using part of ELA asset mentioned in this proposal. Once we have a prosperous ecosystem on ESC, the elected supernode can earn a large amount of profit from the gas cost of the transactions on ESC , thereby having the motivation to pledge more and more ELA to participate in the DPOS consensus, which will undoubtedly form a positive cycle for promoting ELA . On this basis, CreDA, FilDA, Glide, Beagle and other ecosystems can attract more Metaverse projects and users to land on ESC through a few innovative functionalities such as credit lending, Metaverse social, NFT, etc. If TVL can be steadily escalated to a level above $1.0 B, Elastos’ metaverse-based strategy in 2022 can be truly successful.