Ok, but we’re back to my question on TVL. Does it matter? Or perhaps better stated, how much does it matter at this point in Ren’s development, and how much should it influence our sales, marketing, and partner strategy?
Because the short term is all about renBTC. As darknode operators, we would like to maximize our monthly income. That seemed to be the point of the original post. Ok, so let’s maximize. Clearly to do that we need to go after the market leader, wBTC.
In August 2020 I would have told you it’s only a matter of time before we overtake wBTC. Why use a centralized option when renBTC is cheaper, faster, etc. But from a peak in October, we have slowly declined, while wBTC has greatly expanded. Why? Yes, I realize we don’t primarily care about TVL, it’s volume through RenVM. But let’s keep it real, TVL greatly impacts volume at this stage in our development.
So either we go after wBTC through proper marketing, partner offerings, etc., and accept a likely much higher TVL if we succeed, and (more importantly) much higher ratio of TVL to locked REN, or we don’t. I don’t see any other sales play in the short term (over the next 12 months or so) that can really move the needle in any significant way.
Speaking of partner offerings, isn’t the owner of Ren one of the largest users of wBTC? Seems a pity we can’t convince him to give all or at least some of that business to us, right? Why is that? Have we asked?
I would use Greycore on mainnet as the game changer, and aggressively market renBTC as a replacement to wBTC in parallel with this launch. I would lobby Alameda Research and their affiliates to use and promote renBTC, as well. I would start to talk to all major projects about renBTC as a replacement for wBTC, certainly every project that is part of Greycore. But again, TVL…