pa390

Who is this #ENS Whale called @FractonProtocol ? A 🧵 They are - Top holder of @10kClubOfficial Club with 140x 4-digit ENS -2nd Top holder of @The999Official Club with 36x 3-digit ENS My understanding: “Fracton operates the protocol that fractionalise NFT assets into tokens that can be traded on Centralised Exchanges. This gives the majority of crypto buyers that have not understood Web3 beyond token trading their first taste of NFT investment. Fracton currently hold 26x BAYC, 24x Moonbirds and many other PFP NFTs in their pool. Currently valued at 8,360 ETH in total!!” The tokenised token for ENS Digits are $HiENS3 and $HiENS4. kucoin.com/price/HIENS3 MKT CAP: $571,866 = ~9.61 ETH per 3 digit ENS kucoin.com/price/HIENS4 MKT CAP: $444,451 = ~2.0 ETH per 4 digit ENS (almost 400& higher than price now) As you can see HiENS overvalues 4-digit ENS by about 400% now. @10KClub floor price is 0.5ETH. The protocol allows users to put their digit into the pool and get back HiENS token which can be sold. But here is why the price is not in line with the floor now: 1) Only Whitelisted users can add or withdraw NFTs form the pool 2) HiENS is currently only tradable on KuCoin. I checked Uniswap but there is no liquidity there. If you want to covert your HiENS to other crypto or fiat, you have to be a KuCoin user. They are a #6 exchange according to @coingecko so you should have no problems there if you are willing to setup an account. 3) According to the twitter space, in order to keep prices somewhat stable, NFTs entry/redemption to pool have to be time gated even if you are a whitelisted user. Here is what should happen in near future 1) HiENS4 token should be sold down in Kucoin CEX. But if you look at HiENS4 price, it has basically been flat from the last 3 months. In the same 3 months, floor price of 10Kclub has dropped ~50% so there is some net buyer on Kucoin that is buying this. 2) If you look at the other NFTs in Fracton Pool, there is also significant premium. I.e BAYC is valued at 94 ETH but the current floor price is 46.3ETH so I believe KuCoin or Fracton is supporting the token prices in some cases. 3) There should be more purchases of 10Kclub digits into the pool to bring the market cap of the HiENS4. But this would mean the purchases of over 350 digits. If this happens, its super bullish. What do you think? Personally, I am not a Kucoin user and I would like to see $HiENS on uniswap so that the pricing is clearer and more aligned to market. And if I can be whitelisted to put in a 4 digit ENS and get $HiENS4 now, it’s a no brainer arbitrage. I will put all my digits with #4 inside lol. Here is the 10K Space Recording where Fracton joined as a Guest x.com/10kclubofficia… and here are their #ENS Wallets 999: nameapes.com/ens/0x352aA679… 10K: nameapes.com/ens/0xf50550d0… #NFA #DYOR 🤷