FIFA sponsorship is $70M so lets see how this is handled. on one hand AF is sitting on a lot of ALGO but on the other hand because the price is so depressed they need to sell 107M (at today’s price) to fund this exercise depressing the price further.
The whole “decentralization” objective of selling cheap ALGO to early adopters have killed tokenomics and adoption. If ALGO is at say $7 we would only need 10M ALGO (vs. 100M) to sponsor FIFA.
I love the sponsorship but the cost of further dumps because of the lack of understanding in tokenomics is just amazing. Now they want to take the warchest, previously allocated to Govenors on the roadmap, in order to sponsor AF’s DeFi initiative. Hello, if the AF stopped dumping 100M ALGO on market and we rise to $7 the value of DeFi would be at min.10x the current TVL. Just amazing the economic advisors employed by AF.