1. The current total pledged market value of#AOexceeds 185 million US dollars. If it can maintain the current daily increase of about 10,000 pieces, it is estimated that it will exceed the total market value of#ARin the next 1-2 months;

2. After exceeding the market value of AR, the annualized rate of return per $ETH will drop to about 3 $AO. If from the first mining to the unlocking date on February 8 next year, the actual return per $ETH is 5-7 $AO, and the annualized ETH pledge rate is about 3%, which is equivalent to 105 US dollars at the current price. From this, it can be roughly inferred that the unit price of AO issued by the ETH channel is 15-20 US dollars;

3. It is certain that the total pledged market value of ETH will exceed AR. It is just a matter of time. This time actually determines the actual purchase cost of the first mining participants;

4. Will the pledged market value fall after exceeding the total market value of AR? There will definitely be fluctuations, or black swan events will occur. Otherwise, I think the pledged market value and AR market value will stabilize at about 1.5:1, and it is unlikely to exceed 2:1, because AR holding income is more stable and can be freely circulated. If it exceeds, it is obviously more cost-effective to hold AR.

5. If the holding cost of AR in your hand is less than 15 US dollars, or the price of AR drops to 15 US dollars, I recommend that you can directly exchange AR for Claim AO through CRED before the 27th. This is a more certain way.

6. In general, the value anchoring of AO is not driven by the mining game of AR and ETH, but its own application scenarios. If you believe in the future of AO, the difference is the purchase cost. Based on AO’s current narrative and actual developer experience, AO’s early market value can be anchored to 5-10 billion US dollars in the bull market.

$AR Uncle Ye’s superficial opinion, not investment advice.