Degen Edition - STFX

In our last issue of DeFi Digest (On Tokenomics), we acknowledged that multiple projects with weak tokenomics have performed well in the past. This points towards the prevalence of narratives driving price action, even nine years after Bitcoin was birthed. Instead of lamenting on this or waiting until fundamentals become consistently relevant (read: after crypto ceases to be a nascent asset class), market participants can recognize high-probability, narrative-based opportunities even in the bear markets.

Specifically, we believe that STFX is a project that stands to benefit from narrative tailwinds.   Admittedly, this opportunity is more ‘degen’ than others we have written about in the past, given that it is currently holding its public sale and does not have a live token yet. This is also the first time we have written about a public sale.  

Introduction

STFX, Single Trade Finance Exchange, is a protocol for short-term asset management. The protocol pioneered a concept called Single Trade Vaults (STV) which are short-duration, non-custodial, and actively managed vaults that only execute one trade.