Who wants to be first PAL orca?

dtrade (64)in #palnet • 5 years ago (edited)

Probably, the largest PAL holder is @aggroed (link). It makes sense since he is a co-founder. There are 15 @minnowsupport/palnet.io moderators who have received 30K PAL each. It looks like there is no PAL orca yet as far as I know. Please comment below if you know someone.

For a thought experiment, a moderator can spend 1400 Steem to buy 20K PAL to become an ORCA at current price of 0.07 Steem for one PAL. At 41 cents a Steem, it will take only $575 to become an ORCA for a moderator.

However, if someone wants to be an ORCA from scratch then, it will take $1435 or 3500 Steem. If we compare to Steem ecosystem, one need less than dolphin amount of Steem (i.e. 5000 Steem) to become an ORCA in @palnet.

Will many @dolphins from Steemit switch to @palnet for more influence. Time will tell.

Still there is an issue with liquidity. According to current volume, buying 100 PAL is OK. But buying 1000 or 10K PAL will cause huge slippage cost. Therefore, a die-heart attempt to buy 10K PAL will disturb the current market. Even the market price can go to 2X. However, volume may become higher once more claims are taken place and payouts in PAL get started.

So, ASKpalnet who you predict be the first ORCA? It looks like @aggroed is almost there. Who will be to be next? I have bought 100 USDC from coinbase to buy Steem/PAL. Unfortunately, coinbase holds purchase that for four days. Until then, I am watching the price action for PAL.

Now, the million dollar question who will be the first PAL whale? Or, is it even possible to be a PAL whale due to fair distribution or low volume. There is a huge sell wall where a rich investor can switch 500K Steem for 500K PAL. For now, it looks very unlikely. Therefore, ORCAs will be the new whales of PALNET sea.

Thanks to @khaleelkazi, here is PAL richlist: https://steem-engine.rocks/tokens/PAL/richlist?sort_field=stake&sort_order=desc

Peace
@dtrade
Crypto-trader since 2013

#orca #steem #steemit #pal

5 years ago in #palnet by dtrade (64)

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chesatochi (72) 5 years ago

It is better to go with moderation, the front end is so slow...

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riseofth (62) 5 years ago

It is due to sidechain. Upvotes shows up few minutes later. When SMT will be released, then they will migrate to Steem. Speed will catch up. However, I believe in the team. They have implemented SMT tech in few months than what STINC is holding for more than two years.

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chesatochi (72) 5 years ago

At this point, the community does not wait any more about STINC and act on their own. ;)

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onealfa (74) 5 years ago

I'm still trying to find a PAL "rich list"

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riseofth (62) 5 years ago (edited)

We can do a rough guess. @minnowsupport will have 21.M PAL. 15 moderators has 50K-30K PALs. I have found few Steemians (@khaleelkazi 43K, @midlet 15K, @videosteemit 12.5K, @thebluewin 10K, @edicted 6.5K, @chesatochi 6.5K) able to secure around 7-15K PALs through claimdrop and buying from @steem-engine. Currently it is not possible to buy 10K PAL without disrupting the market. PAL is already up more than 300% from previous day low (0.04 Steem to 0.17 Steem).