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Jag_Warrior
Virginia Fan
Virginia
Member since May 2015
2730 posts

re: Voyager - VYGVF Due Diligence
quote:

The answer is still dexes. Uniswap for Ethereum's network. Pancakeswap for BNB. Orca for Solana. Trader Joe for AVAX.


Could you walk me through a roundtrip trade on any or each of those? Let’s say that I’m entering a buy-to-open at the bid/ask midpoint and then (after that fills) a sell-to-close at the bid/ask midpoint. Could you give me a ballpark on roundtrip commissions for let’s say a $10,000 trade?

And exactly where is my money being parked prior to and after a trade execution?

Thanks to all for the assistance.


tenderfoot tigah
LSU Fan
Red Stick
Member since Sep 2004
8682 posts
 Online 

Send your tokens to a wallet like Metamask. Connect your wallet to a DEX like Uniswap. Uniswap has a 0.3% fee + you have to pay to use the Ethereum network. The gas fees have been around $10 a transaction lately for Ethereum. Solana is a fraction of a penny to use. BNB was less than a dollar to use. I never used AVAX because I'm not a fan. On dexes, you exchange tokens. There is no going to cash. Your only options are stable coins. Dexes are what crypto is designed to be, decentralized.


Jag_Warrior
Virginia Fan
Virginia
Member since May 2015
2730 posts

Thanks for the info.


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METAL
Member since Nov 2020
699 posts

Nailed It!


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boomtown143
USA Fan
Merica
Member since May 2019
5640 posts

quote:

Dexes are what crypto is designed to be, decentralized.


Absolutely


zephry801
USA Fan
Member since Dec 2017
433 posts

Got an email saying Voyager will be filing for Chapter 11


Diseasefreeforall
Miami (FL) Fan
St Clair Co
Member since Oct 2012
3761 posts

quote:

Got an email saying Voyager will be filing for Chapter 11


And trading has been halted pre-market on the stock.


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Diseasefreeforall
Miami (FL) Fan
St Clair Co
Member since Oct 2012
3761 posts

quote:

Dexes are what crypto is designed to be, decentralized.

Are they really? What's happened lately with Solend, Bancor and MakerDao show the flaws in that argument.

The problem with code being law is that code can't anticipate all ruinous possibilities. Who decides what the law should be and intercedes when the code starts ruining the project?

And if defi eventually ruled the world, you can imagine the shenanigans when giant financial institutions, countries and blocs flex muscles to manipulate defi systems. The little guy never controls financial markets.
This post was edited on 7/6 at 7:34 am


slackster
Stanford Fan
Houston
Member since Mar 2009
77591 posts

quote:

The proposed Plan of Reorganization ("Plan") would, upon implementation, resume account access and return value to customers. Under this Plan, which is subject to change given ongoing discussions with other parties, and requires Court approval, customers with crypto in their account(s) will receive in exchange a combination of the crypto in their account(s), proceeds from the 3AC recovery, common shares in the newly reorganized Company, and Voyager tokens. The plan contemplates an opportunity for customers to elect the proportion of common equity and crypto they will receive, subject to certain maximum thresholds.

Customers with USD deposits in their account(s) will receive access to those funds after a reconciliation and fraud prevention process is completed with Metropolitan Commercial Bank.


Update


sonoma8
LSU Fan
Leroy Baw
Member since Oct 2006
7147 posts
 Online 

So is this thing dead now?


Wraytex
Baylor Fan
San Antonio - Gonzales
Member since Jun 2020
635 posts



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30
tenderfoot tigah
LSU Fan
Red Stick
Member since Sep 2004
8682 posts
 Online 

quote:

Are they really? What's happened lately with Solend, Bancor and MakerDao show the flaws in that argument.


These are the equivalent of picking up pennies in front of freight trains.

There is 0 counter party risk in cold storage.


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TheChiefHasArrived
New Orleans Saints Fan
Member since Dec 2011
616 posts

So what's that update mean if I've got BTC, ETH through them? I'll get equivalent value in the other coins mentioned?


Yeti_Chaser
Member since Nov 2017
4044 posts

From the way I read it, it's a whole lot of nothing. It sounds like they hope to be able to give you something though it may be shares of their new company or voyager tokens (both of which will be damn near worthless after this) but its also clear that their extremely vague plan is also just a plan and not approved yet


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UltimaParadox
Alabama Fan
Huntsville
Member since Nov 2008
27368 posts

quote:

Got an email saying Voyager will be filing for Chapter 11


Guessing here, but bet they get denied Chapter 11 protections and get forced straight to liquidation. This is probably in the best interest of their creditors. As soon as the restructure takes place will be a massive bank run and the whole thing is liquidated anyways.

Stock holders are wiped out either way.


boogiewoogie1978
Arkansas Fan
Little Rock
Member since Aug 2012
13670 posts

I just looked at the ticker. HOLY SHIT


molsusports
Ohio State Fan
Member since Jul 2004
33651 posts
 Online 

quote:


I just looked at the ticker. HOLY SHIT


Between April 2021 and July 2022 new investors lost 99% of their investment. Arguably early 2021 was the peak of speculative investments with things like Dogecoin peaking at around the same time


NEMizzou
Missouri Fan
Columbia MO
Member since Nov 2013
1338 posts

If you have any stock left, it's back up for trading at VYGVQ. I was able to at least close out my position for $.15/share. Unbelievable.


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