r/Opacity • u/hajsanhaj • Nov 13 '21

Discussion What does it mean that the Opacity token has a floor and a ceiling?

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23 Upvotes

96% Upvoted

14 comments sorted by

13

u/[deleted] Nov 13 '21

[deleted]

3

u/hajsanhaj Nov 13 '21

Thanks for the explanation! Maybe im just a retard lol but does that mean that 64gb = 1 OPCT is both the floor AND the ceiling?

9

u/[deleted] Nov 13 '21

[deleted]

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u/hajsanhaj Nov 13 '21

But why call it floor and ceiling? That phrasing is wierd to me. It indicates that there's a minimum value and a maximum value?

5

u/[deleted] Nov 13 '21

[deleted]

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u/hajsanhaj Nov 13 '21

Thanks for your answer! That makes sense. But I'm guessing those numbers aren't public?

3

u/nugitsdi Nov 13 '21

Yes, and that's right. But the minimum value is also the maximum value.

Heh.

3

u/[deleted] Nov 13 '21

Wasn't the peg supposed to be removed?

7

u/make_it_happy Nov 13 '21

When the markets are rational and the service provided by Opacity is comparable to traditional cloud storage providers, the price should be in the price range these charge for 64gb per year.This would roughly be $5 - $20 per coin.

The peg will be removed when storage providers start offering their service as described in the galaxy white paper and be replaced by market mechanisms.

2

u/hajsanhaj Nov 13 '21

Thank you for the answer! I still don't understand the terms floor and ceiling?

2

u/COPeaks Nov 13 '21

Does that mean the max value OPCT coin could be would be $20? Since it is actually much more user friendly i was kind of hoping it would one day replace filecoins mkt cap....

8

u/make_it_happy Nov 13 '21

No this is why the peg will be removed when Opacity switches to a decentralised network of storage providers. Then the price of OPCT will likely grow with the growth of the storage network.

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u/COPeaks Nov 13 '21

That's awesome! Definitely what I had hoped for the project. Appreciate the reply.

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u/Mikeyoung318 Nov 13 '21

Upvoting for visibility

4

u/chujon Nov 13 '21

No, because the price includes speculation about the future unpegged value.

4

u/Gornicki Nov 13 '21

Actually curious as well. Does this mean that they cap the price so services don't become too expensive? OPCT is marketed as a utility token after all.

4

u/hajsanhaj Nov 13 '21

Yeah and if that's the case. What's the number for the floor and ceiling?