I notice an abundance of promising projects, but their adoption rates are quite low.
The negative publicity surrounding price manipulation related to #FTX / #SFB has notably impacted retail buyers’ perception of the project.
Seeing a chart that appears to emulate a ‘Pump and Dump’ rugpull scenario doesn’t make it easier to win back confidence.
I’m a strong supporter of ICP, and I’m planning to start a project on it this coming September. However, it will be targeted towards institutions, not retail, and therefore there won’t be any token sales.
I’m aware that @dfinity is heavily invested in L1 work. Nevertheless, I’m hopeful that they will complete the ETH/ERC20 integration shortly and incorporate it into NNS and enable users to expediently and economically transfer their ckBTC, as well as ckETH/ERC20 tokens.
I anticipate that the next peak of the bull market will occur around 2025/2026. During this period, I expect ICP’s value to rise to over $50. This would subsequently decrease the prevailing inflation rate due to node providers, who typically achieve their return on investment within a 36-month timeframe.
Personally, I believe the staking APYs are excessively high. I understand the need to incentivize people, myself included, but it’s unfortunate that altering it now is difficult.
Given a choice, I would lower it to a maximum of 5% per annum for an 8-year lock-in period, with the maximum dissolution time (proportionally reduced for rest). On the whole, it would be advantageous to limit the dilution of tokens. ICP’s total supply has hit 500 million, with its circulating supply increasing from 123 million to 430 million - a 3.5-fold increase since 2021.
Here’s a hopeful thought: an immensely popular dApp could drastically burn through the cycles. I once came across a statement suggesting that if a platform as heavily trafficked as TikTok were to run on ICP with its current user base, it would deplete all available tokens within just three days.
