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Take Percolator's inverted market design (where price = 1/token) and deploy it for a memecoin
the memecoin itself is the collateral backing the perp market. Then burn the admin key to make it fully immutable.
In Percolator, trading fees flow into the insurance fund. With a burned admin key, nobody can ever withdraw from it. So over time, as people trade the memecoin perp, fees accumulate as locked memecoin collateral that can never leave
it's a perpetual soft burn
sov = percolator inverted market for the memecoin, so it’s backed by the memecoin + burn the admin key. The insurance fund will grow indefinitely from fees and will effectively be a soft burn.
https://t.co/dQa9JbDUUM
L1 are not a use cases, they are an enabler of use cases.
Similarly, privacy alone is not a use case.
Goal = embed it into every crypto primitives: SOV, DeFi, Stablecoins, etc.
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