We are just attacked by node projects every single day, especially node projects running on the Avalanche blockchain. Phoenix Community Capital (FIRE) is one of them, but I guess they would disagree, because they do not have nodes, but instead, they have nests. But, for the average investors, that doesn’t really matter, because they don’t care about RPC endpoints, nor about whether what is generating their daily passive income is called a nest or a node. But, what is it that makes us look at FIRE in a more positive light than many other similar projects and protocols?
This article is not a deep-dive into Phoenix Community Capital in itself, that is something we will do in a different article. Instead, this article is simply describing why we might consider this to be a smarter investment than many of the other similar protocols.
They have a visible team with well-known profiles
This is extremely important. We know, many node protocols arrive today with doxed teams and with contracts that have been certified by Certik and others. The same can be said about the FIRE token and the protocol. But, if you look at the tweet below, you can also see that the team is built up of well-known figures, which is clearly giving trust to the project itself.
This is something we clearly consider to be positive.
And now comes one of the main reasons as well for understanding why we are bullish on FIRE. This might sound stupid, and it might sound like a joke… but it isn’t!
FIRE is heavily endorsed by the XRP community!
FIRE might not be endorsed by Ripple itself, but it has received a lot of attention in the XRP community. And if there is one stubborn community, that has got to be the XRP community. While most other tokens have experienced a 10x price increase and more in the last year, XRP is mostly quiet. But, what is amazing about it all? The XRP community is still convinced that XRP is the best investment of them all.
Even more, while some people sold XRP tokens a year ago in order to invest in Strongblock and other similar projects (something they are very happy about today), they have spent quite a lot of their gains in buying, even more, XRP than they had before.
In other words, they are really convinced that XRP is the big thing. And when you bring the same conviction and the same community starts to invest in FIRE, then it might be smart to listen, because this might turn out to help this protocol grow faster and way more in the coming months.
In other words, being endorsed and recommended by big influencers in the XRP community might be one of the biggest strengths when it comes to the growth of FIRE in the future.
What do you think? Is what we have written here stupidity, or do you agree? Are you investing in FIRE? Have you created one or more nests? Are you worried, or are you just super-happy about it all? We would love to hear your thoughts about the protocol and the project!
What do u think of Strong now? They are coming out w strongchain.
And do u feel they are sustainable?