Hi everyone,
As informally discussed with some members or the pNetwork Community Association, with this thread I propose to join the pNetwork Community Association in order to support the business development with the following three action points:
- Listing on CEXs : As we know, listing fees are often very high and, due to out current liquidity situation, it would not be feasible to pay for listing fees. However, compared to new projects that are being listed on CEXs, pNetwork is not a new project, the product of the project (the bridges) is fully live/audited/operational. Therefore, my plan would be to leverage the pNetwork experience to close deals with Exchanges in order to be listed. Specifically and initially, I’d get in touch with the first following 4 Exchanges with the following proposals:
- Coinbase: Multiproof Labs’ collaboration with Coinbase Ventures and pNetwork bridges’ creation on the layer2 of BASE
- Crypto.com: Multiproof Labs’ collaboration with Crypto.com Capital and pNetwork bridges’ creation on the layer2 of CRONOS
- OKX: Multiproof Labs’ collaboration with OKX Ventures and pNetwork bridges’ creation on the layer2 of OKT Chain
- Binance (despite the situation, I believe that it’s possible to explore new collaborations): Multiproof Labs’ collaboration with Binance Labs and pNetwork bridges’ creation upon request of Binance Labs for their incubated projects on the layer2 of BNB Smart Chain
In a second phase, I’d explore other kinds of partnerships with the following 5 exchanges with already established contacts:
- MEXC Global
- ByBit
- Bitget
- BitMex
- Upbit
At the end, I’d explore partnerships with other exchanges, such as:
- Kraken (leveraging their Grants’ program)
- Bithumb
- AscendEX
- Building on the new Blockchains: recently, many innovative blockchain protocols raised funds from VCs and token listings. However, these Blockchains often lack of products (and TVL). Therefore, I believe that it’s possible to explore a monthly cash-flow for the pNetwork obtained from long term partnerships with new Blockchains in order to build bridges on their blockchains and exploring the potentialities of the Multiproof Labs. As examples, these are blockchains that would be promptly contacted:
- SUI (Mysten Labs)
- zkSync (Matter Labs)
- Starknet
- M&A with other bridges: exploring M&A opportunities with other bridges, it would increase the buying pressure on PNT from other protocols wishing to control the pNetwork. I believe that other bridges may be interested in joining the ownership of our protocol especially because pNetwork has a ratio of Market Cap / TVL that is currently of just 4,8% (2M / 42M).
Just doing a benchmarking with bridges owning a token, the ratio of other projects is currently:
- 250% for Wormhole (10B / 4B)
- 250% for Stargate (800M / 320M)
- 37% for Multichain (88M / 237M), even if the project is not running anymore
This means that PNT is currently strongly undervalued of potentially at least 8x (from 4,8% to 37%), taking the most conservative ratio Market Cap / TVL of 37%.
A fair price for PNT would be at least of 0,16$ with the current market conditions, meaning that, with the current price of PNT, other protocols may be interested in M&A with us buying PNT in order to increase the number of their bridges and their TVL by creating bridges between our bridges and their bridges.
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As conclusion, I believe that there is a huge potential in terms of business development executing the three actions above and I’d be happy to give my contribution. The reasons why I’m bullish on the pNetwork are the numbers of our protocol:
- an attractive TVL of >40M USD
- an experienced team
- 18 live nodes
- a functional DAO
- 12 blockchains supported
- 1B transacted
- 1M of fees gained (value equal to the 50% of return, compared to the current market cap of 2M) in just 3 years (equally to a ROI of 16% annually)