"Sat0: Bonding Curve Design" This morning, I was about to go out when I saw a discussion about Sat0 and took a quick look. What does Sat0 do? It focuses on bonding curve design. There was a wave of bonding curve projects in 2017-2018 (Bancor, various continuous tokens), but almost all of them failed. After that, there weren't many projects focusing solely on bonding curve design. Sat0's design is actually relatively simpler than its predecessors. But what's new about it? Hooks. Uniswap V4 hooks won't be fully mature until 2024-2025. Uniswap V4 hooks allow custom code to be inserted at crucial moments in a swap—before, after, before, and after adding liquidity, etc. How do normal projects use hooks? They use hooks as logical decorations for swapping. For example, uPEG a few days ago triggered SVG generation during swapping. Sat0's boldness lies in: the hook internally implements a complete bonding curve pricing mechanism. They completely abandoned Uniswap's AMM, creating their own Bonding Curve. Let's talk about the subsequent game theory; the core is self-deprecated. Currently, there are 1100 ETH in the pool. If another 1200 ETH arrives, self-deprecated will be triggered. At that time, the price will increase tenfold, and the Bonding Curve will no longer issue more tokens. The tokens will be completely distributed, and from then on, only burn will occur, with no further issuance. At this moment, the game is whether the market will release another 1200 ETH, causing the entire pool to go completely insane. Betting on a liquidity rebound, betting that there's still tons of stupid money coming. Of course, smart money will generally run away before self-deprecated. Right now, the veterans in the crypto market, I suspect these noobs will all see self-deprecated as a sign of a market top. However, ultimately it's a zero-sum game within a closed system. It doesn't create value, and it has nothing to do with changing humanity. And the end result = most retail investors lose money, without exception. Beware, everyone.

Night after night of revelry

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