There are several things about PALNet that intrigue me.
- Keeps Steemit honest (fork threat)
- Hand-picked airdrop
- Safe haven from current flag wars.
- Extremely Experimental
PALNet fork
The best kind of fork is the fork that never happens because the community came to consensus. However, in a centralized atmosphere like Steem very few people are in charge of making decisions for everyone else. This potentially leads to conflict of interests and corruption due to the 'monopoly'.
PALNet breaks that monopoly by showing a fork can happen pretty easily. The people in charge may avoid implementing corrupt changes simply because of the threat of a fork. Just look at how they responded to the empty threat of losing their stake.
Handpicked Airdrop
The PALNet airdrop may have been the most targeted and intelligent airdrop of all time to date. Show me another coin that vetted their airdrop so carefully. Whales got capped at 2500 coins while botnets and blocklists were outright banned.
Sure, the moderators gifted themselves a lot of coins, but they are also not going to use those coins to dump on the market like Steemit does. I'd say I trust the people in control with millions of PAL coins a lot more than I do the ones with millions of Steem coins.
Haven from flag wars.
The people with millions of PAL coins aren't going to engage in flag wars. PAL stands for peace, abundance, and liberty. Therefore, engaging in petty flag wars would completely undermine their position.
This dynamic allows people who are being perma-downvoted on Steem to jump ship to PALNet without fear of retribution. In fact, I get the feeling that a lot of big stake holders that would engage in flag wars would have sooner dumped their airdrop onto the market as soon as they got it. I guess I'll need to look at a list of accounts showing who has the most coins to know for sure.
Extremely Experimental
PALNet can get away with doing whatever they want with no complaints. Crypto is all about opt in governance, so when Steem says they are going to change all the economic incentives drastically users have a right to complain. However, PALNet can pretty much get away with whatever they want during these early stages because it is so new.
Rapid development
PAL has already made leaps and bounds with development here. What will they come up with next? Everything they've done is permissionless and needs no one's approval, yet the ramifications of their actions are felt far and wide all over the platform. It's clear that they will continue to bring in more value than they extract from the platform.
Conclusion
I'm not saying anyone should buy and stake coins, but everyone should buy and stake coins. jk. My stake is theoretically already worth x2.5 what I spent on it after only a few days. This is the most low liquidity unstable market I've ever been a part of.
There are currently only 14.4 M coins in circulation, and 12.6 M of those are being sold at a 1:1 ratio. I'd say the chance of getting back to 1:1 parity is pretty high, which would be an x5 gain from where we are at. Again, don't buy Palcoin ;)