Crypto KOL Ansem said on Aug. 26 that he has bought $57,600 worth of NET, the token of NetNet Capital, a DeFi protocol he described as an innovation on the Robinhood chain. In a post on pump.fun, Ansem outlined how the protocol works, saying NET represents a reserve share backed by at least 1 USDG within the protocol’s on-chain asset basket. He said NetNet Capital accumulates productive assets including stablecoins and stocks through several mechanisms. According to his description, if net asset value, or NAV, reaches 1.75 times the base treasury, NET stakers can receive 1.2% daily yield. He also wrote that the token was trading at roughly 11 times the treasury, while treasury growth was running much faster than 1.2% of NET issuance. Ansem added that the project’s founder had said in several interviews that discussions had taken place with the Robinhood team about possible future cooperation, and that the founder had previously worked on NBA Topshot. Separate trading records cited in the report show Ansem spent $57,600 on NET through pump.fun. As of publication, GMGN market data showed NET at a $51.47 million market capitalization, up 61.66% over the past 24 hours.
Crypto KOL Ansem said on Aug. 26 that he bought $57,600 worth of NET, the token of NetNet Capital, a DeFi protocol he described as an innovative mechanism on the Robinhood chain.
In a post on pump.fun, Ansem said NET is 「a reserve share backed by at least 1 USDG in the protocol’s on-chain asset basket」 and that NetNet Capital accumulates productive assets such as stablecoins and stocks through several different mechanisms. He added that if net asset value, or NAV, reaches 1.75x the base treasury, NET stakers can earn 1.2% per day. He also said the token was trading at about 11x the treasury, while treasury growth was much faster than 1.2% of NET issuance.
Ansem also said the project’s founder had mentioned in several interviews that discussions had taken place with the Robinhood team about possible future cooperation. According to Ansem, the founder had previously been involved in the NBA Topshot project.
Trading records cited in the report show that Ansem spent $57,600 to buy NET on pump.fun.
As of publication, GMGN market data showed NET with a market capitalization of $51.47 million and a 24-hour gain of 61.66%.
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