Balancer (BAL)
🏅 Rating: Bullish
🎯 Price Target: $40 (150-300% upside)
- We are initiating coverage of BAL, the native token of decentralized exchange Balancer, with a bullish rating.
- The Balancer Protocol is a non-custodial portfolio management tool, liquidity provider, and price sensor, built on the Ethereum network. BAL is a governance token that can be used to vote on Balancer protocol changes and upgrades.
- BAL holders should lock their BAL into veBAL to get a host of benefits in the new vote-escrowed (ve) system.
- An overhaul of BAL’s tokenomics, the upgrade will entitle holders who lock LP tokens from the 80/20 BAL/ETH pool to 75% of fees generated by the protocol, boosted yields when providing liquidity, 10% of emissions, and the right to vote on BAL rewards directed to different pools on the exchange.
Ethereum (ETH)
🏅 Rating: Bullish
🎯 Price Target: $5,000 (50% upside)
- The arrival of the Merge is nearing completion. This would make ETH the first coin that has a positive cash flow and rewards people who validate.
- Fees would be reduced by 90% and we would see triple halving in just a few months (BTC would take about 3 years).
- We would be facing a deflationary currency.
Tribe DAO (TRIBE)
🏅 Rating: Bullish
🎯 Price Target: $1.5 (150-300% upside)
- TRIBE is used to manage and protect PCV and the FEI peg. TRIBE can be used to backstop PCV in the event user FEI goes below an acceptable level. Additionally, buybacks from PCV equity further incentivize effective PCV management.
- We believe that xTRIBE would represent a significant improvement to the value proposition of TRIBE by increasing both utility and demand. We also feel that it is likely to kick-off the “Fuse Wars” in which Fuse pool operators, such as DAOs, may purchase and accumulate xTRIBE to increase yields, and therefore liquidity, for their depositors. Given the community support based on responses to the governance forum post, we feel the proposal is likely to pass.