🧘‍♂️ALERT. New Crypto Star Is Born.

Market Meditations | September 1, 2021

It’s the year 2620 and…

Dear Meditators

It’s a beautiful day to be an ETH holder. And who would have known about this pump?

Well… You might have if you were subscribed to our free newsletter and read Monday’s technical analysis section.

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⏰ In A Rush?

Here’s what you need to know and some emojis:

? Star At-last!

As we previewed on Monday, one of the most hotly anticipated blockchain games of the year has their token launch this week, and to reward the early adopters Star Atlas have come up with a very simple way of distributing those first tokens….. I’m just kidding; you might actually have to be a rocket scientist to take part! Let’s skip the launch – what is Star Atlas and are we excited?

  • It’s the year 2620 and we’re all in the space metaverse looking for a diamond the size of a planet. Based.

  • You can join the aliens, the androids or the humans – pick one based on your childhood experience.

  • Pimp out your 27th century spaceship or just give it some basic repairs – is it flex time or respect time?

The game makes the most of Unreal Engine 5’s Nanite to create sumptuous visuals and has massive, multiplayer gameplay. But why blockchain?

  • The collectibles are NFT-based, so you’ll have full ownership and can trade when you like – but beware, some of them burn if you take too much risk!

  • ATLAS is the currency in game, required to buy your first NFTs (like a spaceship), but will also be rewarded to outstanding players (Play-to-Earn). 

  • Holders of the governance token, POLIS, will have a say in how the metaverse develops.

  • It’s integrated with Serum DEX, so you can stake your tokens and get access to a range of DeFi products.

  • It’s built on the Solana blockchain, whose speed and low fees enable massive transaction volumes to fulfil scaling ambitions.

So whether you’re a trader, gamer or just a blue-piller that can’t wait to immerse yourself in this alternate reality, this game may have something for you. And don’t worry about the launch –listing on the exchanges also happens this week – just watch out for volatility.

Our Market Meditations are longer format educational segments. Each letter features a Market Meditation which will deep dive and analyse a relevant crypto event, theme or tool. 

? The Search for Certainty

Everyone loves certainty. In fact we seek certainty to such an extent that we are willing to pay a premium for it, even if this is only perceived and where spending our time or money elsewhere would yield greater reductions of overall risk1. Take the 2008 financial crash. Capital flocked to “safe” assets such as government bonds in the hope to mitigate risk. However the principles of diversification were forgotten and whilst there were many investments with positive expected returns, investors were scared of risk. This phenomenon is known as zero risk bias.

  • This occurs, simply because it is easier for our minds. We live in an uncertain world and constantly balancing changing probabilities is a huge undertaking.

  • In addition the pain of incurring losses is greater than the pleasure of experiencing gains (also known as loss aversion). This produces a fear of any loss that drives us to make irrational decisions.

  • As ever with cognitive biases, this can have substantial negative effects on our gains as our decision making becomes geared towards mitigating as much as risk as possible, not on increasing our risk weighted returns. 

However, it is possible to avoid this bias. Firstly, always focus on expected values. When only considering complete mitigation of risk, we do not account for potentially large payouts that may mean the associated risk gives us disproportionate rewards. Additionally, consider how your decision will impact your total portfolio risk, not simply the risk of one asset or sub-section.

Zero risk bias can lead us to make poor decisions, focused on complete elimination of one specific risk rather than our overall risk. Focus on positive expected values on a portfolio level and end the fruitless search for certainty.

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? Another Eth Killer!

As Bitcoin dominance drops, we are finally seeing some performance out of altcoinsEth seems to be gearing for a move up, meanwhile, other layer ones are getting their 15 min of fame (except for Solana who seems to be getting 15 days of fame!) We have seen Cardano, Avalanche, and Solana make all-time highs but we also witnessed another protocol, Fantom, in the headlines this week with some price appreciation of its own. 

  • Fantom is a proof-of-stake network that claims transactions are finalized within one second and cost a fraction of a cent.  

  • Fantom is EVM compatibledApps for Ethereum can be deployed on Fantom without developers having to learn another coding language.

  • Fantom made headlines this week with the announcement of a $370 Million incentive program for developers

Fantom’s low fees and instant transactions promise to bring Defi to the masses. You can already trade synthetic assetslend and/or borrow on the protocol, directly from your wallet.  NFTs and play-to-earn gaming are already getting started there too, and NFT marketplaceArtion is coming soon.  

Will Fantom become the protocol that finally puts the nail in Eth’s coffin? Probably not, according to Andre Cronje of Yearn Finance, it is more likely to be an Eth helper. If you are interested in learning more about how Fantom works or how to bridge over to the Fantom Chain, you can visit Fantom.Foundation or follow them on Twitter for any upcoming announcements.  

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??‍♂️✍️ Stories in this newsletter were written by D. Beverly, Isambard FA, Nick T., Max P., Kimia K., Ellen B. and Koroush AK. Graphics were produced by Gerasimos P.

Not financial or tax advice. The content in this newsletter is for informational purposes only. Nothing in this email is intended to serve as financial advice. We are not financial advisors. Every investment and trading move involves risk. Do your own research when making a decision. See our important security disclaimers here.

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Viscusi, W, Magat, Wesley A. and Huber, Joel, (1987), An Investigation of the Rationality of Consumer Valuations of Multiple Health Risks, RAND Journal of Economics, 18, issue 4, p. 465-479.