Phoenix De-Fi on Stellar (XLM)

[Abiky]

Has anyone heard of this new project called "Phoenix"? It's going to be a suite of "De-Fi" apps built on the Stellar blockchain using Soroban smart contracts technology. At the time of this writing, Phoenix only has a working AMM (similar to Uniswap). It's a DEX which enables you to seamlessly exchange tokens on Stellar. The team is now planning to launch an NFT marketplace, among many other things. This could be the start of a new era for XLM. Totally bullish, imo.

For those curious, here's the link to the project: https://app.phoenix-hub.io/

What are your thoughts? Will "De-Fi" on Stellar drive XLM's market price to the moon? Will it be able to compete directly with the likes of Ethereum, Solana, and BSC? Is XLM undervalued?

Your input would be greatly appreciated. Thank you very much.

[Wiwo]

Your input would be greatly appreciated. Thank you very much.

First of all welcome, if you don't mind I will like you to clarify two points for us to get things clearer, but before then I will like you to note that, with recent hype and wave in memecoin build on the solana network making the wave in the market, every new projects in this regards is given a closer look by potential investors who will want to take advantage of being among the early investors.

So back to my questions.

1: are you a member of the teams behind this project?

2: Is this project related affiliated with the known bowser phoenix which is already a known browser?

[Churchillvv]

My only problem is the fact that this phoenix project is too many that I find it hard to figure out if it's the same project that has it's thread here in the forum since 2013 or so, I'm seeing PHX, PHB, PHC all coins/tokens hence i don't know the exact coin that is the case study here but i believed if it's PHX coin it can't burst the Stellar Blockchain alone but it could make a good significance in the network that might be the attractor of other coins to be on the stellar Blockchain.

[Abiky]

First of all welcome, if you don't mind I will like you to clarify two points for us to get things clearer, but before then I will like you to note that, with recent hype and wave in memecoin build on the solana network making the wave in the market, every new projects in this regards is given a closer look by potential investors who will want to take advantage of being among the early investors.

So back to my questions.

1: are you a member of the teams behind this project?

2: Is this project related affiliated with the known bowser phoenix which is already a known browser?

To answer your questions: No, I am not a team member of the project. I've just read an article online which brought my attention. Thought the community should know. In my eyes, Stellar (XLM) is undervalued, so such new developments might help with the cause in the long run.

According to my knowledge, this project is not affiliated with the "phoenix browser". They're completely different things. The "Phoenix" I'm talking about has its own token under the ticker "PHO". If "De-Fi" on Stellar takes off, the chain could compete directly with the likes of ETH and SOL. At least, that's what I hope for. This is a new project, so I'd suggest you do your own research before going all in. Hope this helps.

[Jon pyagbara]

De-fi on Steller can positively affect XLM's market price but driving it to the moon remains uncertain,
Regarding XLM's valuation, it is difficult To know   if it is not valued without putting market trends into consideration, lately it has been relatively stable with a lower market capitalisation compared to other top crypto currencies.

And also it will find it difficult in competing with Ethereum, Solana, and BSC due to the fact that they have more trusted users, and more market  capitalizations, XLM's valuation not certain and requires effective market analysis.
On the other hand Steller's de-fi ecosystem has to experience massive growth in terms of adoption with significant number of users investing in it in order for XLM to surge,