Bitcoin Forum

How do you view these two projects as potential investments? I mean buying them off of an exchange and holding them long term

Starknet: 10B total supply and around 728M circulating. They had a huge unlock that was supposed to happened in March, but was pushed back after their community members raised concerns about the impact a hefty unlock like that would do to the short price movement. Among all "major" L2s, Starknet is one of the least used and before the dencun upgrade, it was one of the most expensive L2.

My bias: Can't and won't be showing up (won't buy). At $2, the FDV of starknet is around $20B, at most, the price can only do like a 100% or probably less since the interest is split among other L2s. I can trade it short term on futures though. Not worthy of holding for me.

---

EtherFi: For this one, my reply will be biased because I'm a holder. EtherFi is the top LRT protocol on EigenLayer and they have tons of really good backers, will only 1B total supply and only around 12% in circulation means that there's plenty of opportunities for this to grow. ETHFI reminds me of the Celestia (TIA) run 4 months ago.

Bias: Premarket price was $5 and above and is trading below $3.7. I reckon that the price should soon put premarket buyers in the green and with EigenLayer launching soon and AVS projects doing some sorts of airdrop for EtherFi (the protocol or token), then it is a good buy for me especially in a full blown parabolic crypto run with restaking narrative going haywire.

I don’t know much about etherfi other than the fact that it has been here quite a long time.

On the other hand, starknet is a new project that has some really clear objectives from the development team implying that they know what they are doing and has clear plans on how to do them. To me, that is usually a good indication of how much this coin can develop. Having decrease transaction fees, I am quite interested.

I might not recommend this one for long term holding but I can see making profits on the early run.

Potential investment goes to ether.fi (ETHFI) if we only look at market capitalization, Starknet is ranked 70 in CMC while ether.fi is ranked 178 in CMC. But if we look at it fundamentally, Starknet is more promising than ether.fi. AFAIK, ether.fi is just a restaking protocol on Ethereum (ETH), for me, there's nothing special in ether.fi because no game changer there, there are only 4 main prizes for eETH minter there including:

- Ethereum staking rewards
- Ether.fi Loyalty Points
- Restaking rewards (including EigenLayer points)
- Ability to provide liquidity to Defi protocols.

Have any of you seen anything special?

Not sure why you would even buy them instead of just farming their airdrops? Farming a protocol's airdrops(the newer ones like these 2 though starket has already been released, when available) is simply a far far better r/r bet than buying the token.

(Check out paldo.io for an airdrop list.)

As for the viability of these projects:

• Starknet is an Ethereum L2 — that category is pretty congested and I personally don't have a clue whose going to win out of the dozens and dozens of L2s
• Etherfi is a liquid restaking protocol — whereas there are also dozens of LRT protocols battling it out so I don't know as well who's going to win

Starknet

IMO. this token is not even worth to buy.

My cons are

- Big supply but only less than 10% already unlocked.
- High fees compared to another L2s
- Less users compared to the other L2s

Etherfi

- This token used as a governance token only and nothing more
- i have no reason in owning this token although it offers season 2 airdrop for the holders.


It's very bad idea. Why don't you buy a good token that has fully unlocked in the exchange site? I meant that have been plenty of tokens are also giving you various options.

Starknet is a layer 2 of ethereum and not only that their technology is being used by many top project throughout the industry. Though their community airdrop was controversial and people don't like it also they don't have any unique usecase that separates them from other layer 2. This also can be seen in their user drop. On the other hand ethfi is a eth Liquid staking platform and they are one of the market leader in this sector. So ethfi has better chance of survival than the starknet.