Mina is an L1 blockchain that launched its mainnet on March 23, 2021 and sold its token on CoinList on April 13, 2021.
Like other projects on CoinList, Mina was heavily hyped during the bull market. This helped produce an initial wave of retail interest by having the advantage of being comparatively lightweight and scalable.
But the project is built on a complicated technology stack that will require substantial research and development. Meanwhile, competitors will likely catch up and block its potential to offer superior capabilities. Ethereum has already been testing similar technology and is about to launch it on a network-wide level.
Given this situation, we do not expect Mina to mature quickly enough to keep up with market leaders.
Key Takeaways:
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Convex’s business model is built on Curve, a DeFi blue chip that continues to be one of the market leaders. It repackages Curve’s governance into a liquidity bootstrapping product that is already being used by projects like Abracadabra and Alchemix, and there is potential for more projects using it down the line. Ergo, Convex is one of the few examples of business-to-business models in crypto.
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