Exclusive interview
- Ansensys CEO explains to DL News why storage of ether is different from Bitcoin.
- The online Paris Society leads to the performance of the clearing.
- Lubin has even more plans to merge Sharplink with Defi.
When Joe Lubin conducted an investment of $ 425 million to launch the largest business ether cash company, comparisons with Michael Saylor were immediate.
Even Vitalik Buterin joked that Lubin had become the “Mr. SAYLOR OF ETH ”during an industry event in Berlin this month.
At first glance, the similarities are clear. An obscure company is starting to plow millions in a cryptocurrency, increasing the price of the token with the actions of the company.
But a more in -depth examination shows that the amassing of ether on the assessment of a listed company is in fact very different from the approach that Saylor was launched at Microstrategy, now nicknamed the strategy.
Different things
If Bitcoin was designed to be digital money, Ethereum was invented to be an ecosystem for decentralized applications and financial companies.
“We will do all the different things to collect funds thanks to the sales of action and the debt that Saylor has brilliantly launched,” said Lubin, CEO of Consensys, said DL News In an exclusive interview on Wednesday.
“We can also do much more,” he said.
At the top of the list, there are markups.
Unlike Bitcoin, Ethereum relies on a model of proof of stake to validate and confirm various transactions on the blockchain. To become a so-called validator on the Ethereum network, users need to put 32 ether.
Validators earn rewards or make it precisely confirming transactions. If they behave in a malicious or dishonest manner, as validated fraudulent transactions, the network takes a small part of the 32 Ether stuns like a fine.
Employed yield
Now, Sharplink Gaming, the Consensys company has chosen to be an ether vehicle, is part of the arena of shying in a significant way.
As of June 13, Sharplink, an online sports betting company, deposited more than 95% of its $ 463 million in Etash in Ethereum to validate transactions.
This decision generates an average ignition yield of 3%, which means that Sharplink increases approximately $ 14 million on an annualized basis.
And the company, and by extension its shareholders, also benefits from any appreciation of the value of the ether.
“They would learn quantum physics if they thought they could earn reliable money on it.”
– Joe Lubin
Ethereum’s ignition model also benefits from the high price of ether.
The lower the value, the lower it would be for someone to buy and control the majority of network validators and start approving fraudulent transactions on the network.
“The economic security of the network depends on the rare token,” said Lubin DL News. “It’s really good for the platform to lock a giant amount of ether.”
Wall Street of Lubin
Lubin also says that he plans to transform the actions of Sharplink, who goes through the Ticker Sbet, an onchain token, to launch prediction markets and potentially integrate the metamasque of the cryptographic portfolio of consensys.
Sharplink’s maneuver has turned Lubin into a district of the financial world that he left a long time ago – Wall Street.
The Ethereum co-founder worked in the private wealth unit of Goldman Sachs, the investment bank with white shoes.
As a new president of Sharplink, Lubin is now obliged to preside over the results of the quarterly profits and to engage with analysts and investors. It is very aware of the road roads in traditional capital markets.
As such, it is fascinated by the way sophisticated investors will react to its new Ethereum steering wheel in Sharplink.
“Wall Street cares about one thing. They care about making money,” said Lubin. “They would learn quantum physics if they thought they could make reliable money on it.”
Critical timing
He hopes that analysts will stand up on his cash strategy.
And the timing could not be more critical.
Like Bitcoin and Solana climbed all time in the first quarter, Ethereum was behind behind.
“Bitcoin ended up getting very well, in part because Saylor did a great job,” said Lubin.
“Solana did what they had to do to draw attention, and it was all the coins. And Ethereum was a little rushed between the two.”
In fact, if you bought Ethereum this time last year and held, you would have 27% down on your investment.
In April, slow price performance returned a lot in industry against blockchain leadership.
Some users Defi blamed the Ethereum Foundation, the network for non -profit on the network, for a development roadmap that has not accumulated enough value for the blockchain. They demanded the change.
Instead, they obtained Lubin and a dozen other investment companies in cryptography, including Arrington Capital and Galaxy Digital, to buy more than 69,000 Sharplink shares and transform the online sports betting company into the second largest Ether holder after the Ethereum Foundation.
“It took an external shock of the way Bitcoin went compared to Ether, and how Solana went compared to Ether, to wake up,” said Lubin.
Major dive
Sbet climbed by 2,700% in just four days after the announcement, which increased similar upward expectations for Ethereum.
But on June 12, the company said that investors involved in the Ether Treasury Agreement could sell their shares. This caused a major dive in the stock.
Lubin said the consensy did not plan to sell his participation, but the damage was caused – Sharplink’s gains were evaporated.
Ethereum Evangelist
Anyway, Lubin appeared at ease to play the role of Ethereum’s evangelist at Dapccon in Berlin this week.
In 2014, he collaborated with Buterin, Gavin Wood and other co-founders to develop the Talisman DEFI.
But with Sharplink’s play, he hopes to captivate a new audience.
In addition to the implementation of SBET analysts on Ethereum applications and profits, Lubin expects that consumer information networks will come soon.
But this is where the comparison with the president of the strategy ends.
When I asked Lubin if he wanted to be Michael Saylor d’Ethereum, he pushed back.
“I will be the Joe Lubin d’Ethereum.”
Correction on June 20: A previous version of this article resulted in the role of Lubin in the private wealth service of Goldman Sachs.
Liam Kelly is corresponding to DL News. Do you have a tip? Email to liam@dlnews.com.
