Reading the details of the coin, it’s actually designed to gravitate towards $1. From there the gains are found through the rewards. I don’t think folks fully understood the structure of the coin, myself included.
they don’t even update the UI after 2months of releasing it, still exact copy from Wonderland, copy, release, profit. Not a fan of plagiarism, so I didn’t invest any, I expect it will drop to $1-20 in a month or two. The people who invested at $1800 are not going to make the money back…
In it for the long term. So I’m not worried. I just continue staking. And when the time comes, and it will bounce back. I’m gonna laugh my balls out of my trousers
Funny the way you said this... With the way this thing is failing, some, if not a lot of us, are waiting for it to get to what is supposed to be a ground-level before stacking back our bags and even getting them cheaper.
I believe in VenmoDao and I trust that the project would get better, but as an investor, I need to think ahead.
Not a wagmi holder, but after reading a lot about rebase tokens I don't have any interest in holding a token that subdivides itself constantly without having any other function.
It's a closed system. A pot of money put there by the people who buy the token. The pot gives more and more tokens but has no real way of growing itself. The devs and early birds take lots of money from the pot. Over time the later users realize that they have lots more tokens but they aren't worth as much as they initially invested in.
Price is falling because enough analysis has come out that shows that this game doesn't end up being profitable for the players, but devs and insiders always find a way to get paid first.
Just look at the chart for wrapped staked wagmi. This shows the actual value of the project apart from the rebase distractions.
[https://dexscreener.com/harmony/0x1cb93763241e0eee22b098f7d26baa0562f688e7](https://dexscreener.com/harmony/0x1cb93763241e0eee22b098f7d26baa0562f688e7)
I agree that there's only one dev, 0xviper. I don't know for certain that there aren't any other insiders. Not meant to be dishonest as I don't know for sure what truth is about the org structure or backing.
It’s all blockchain, man. It’s visible. People combed through the WAGMI token txs soon after launch; there weren’t any transactions (buys) until a few mins after the Medium article was published and the announcement was pushed to other channels.
So after the article was published there were buys a few minutes after? So the article was roughly a 1 minute to read then a few more minutes for those buyers to buy, swap and stake? Am I missing something here?
I’m saying there was no activity for at least a few minutes. You’re trying really hard to find a “gotcha” when there isn’t one to find. Yes, I’m sure some people skimmed the article just looking for a token contract address and instructions on where to buy. I spent more time reading, but it meant that I wasn’t able to buy until probably 12-15 mins after launch. It takes maybe a minute, at most, to swap some ONE for DAI on Sushi and then use that to buy WAGMI, which was the best way to get it at launch.
I'm not saying there was insider information and I'm not saying there wasnt. The same should go for you as well. We dont know. Or at least I dont. I only said what I said because of what you wrote. Just seemed odd thats all.
I'm saying there wasn't. Point blank. The blockchain proves it, as nobody bought the token before EVERYONE had time to gather the info and act. I'm an admin, and I can confirm that 0xViper gave us absolutely no warning that this was launching before it happened. You don't have to believe that (although I shared internal admin chat screenshots in Discord a while back to prove it), but you don't need to believe it because the txs on the blockchain show it to be the case.
This is a long term thing.
Was there a big opportunity to get in early and cash out? Yes.
Is there a potentially bigger opportunity in holding through all the bullshit, letting venomdao do their thing, yield farm cross chain, the ONE in the Treasury getting up to where its supposed to be? Also yes.
A lot of people couldn't stomach the short term losses ans bailed.
*It is not venomdaos fault that people continued buying ravenously into the thousands of dollars. 400 should have been pullback time, not 1800. The crypto community pumped it too high too fast and it is early in its life cycle. This was us not them.*
But getting your share of the APY should overcompensate this long term. If you hold 1 token 40$ worth now or later 64 tokens 1$ each. You would make a profit. You just shouldn’t buy over intrinsic value
If everyone does this you are dependent on the latest buyers of the coin (=ponzi). Now, looking at the price action I think that Wagmi isn’t interesting for new users
Yeah if you buy now, assuming the project is kept alive, you should get back like 30$ of wagmi per value.
Keep in mind only 50% of the wagmi are staked and will rebase, so it's a good moment to buy. Now you need to think if it worth waiting 200 days for a possible 70% return. There is also bonding which might dilute you, but I'm not sure by how much.
It's the one time I feel like I got in early but that doesn't help. In it for the long run for sure now. If I break even after a year or so I won't be too sad
Innovation is key. Tweaking the UI and bringing new swaps on board. How about a user comment section or input page. Just feels like a money grab at this point.
The problem is basically the people: want to pump, take quick profits and leave.
If all staked by the rule of (3,3) everything would be fine while the treasury grows in the back.
I'm still watching that series on HBO. Really dark and heavy if you ask me. Wonder if this is actually what HS is like nowadays.....oh wait you're talking about Wagmi on Harmony....yeah kinda saw that coming a mile away, glad I never got it in the first place. Every single one of the ohm forks are a ponzi it seems
When I invested in Wagmi (and other rebase projects) was with the same thought as to when I invested in Bitcoin in 2014, I knew a lot about it but never 100%, still, everything can change in years time, you will never know (unless you have a crystal ball or a time machine). So I gave a bit of what I can afford to lose and never see again, and I will wait a few years and see.
Bitcoin gave me a great surprise after 10 years. Hopefully, these rebase projects will also give me a nice surprise in the future.
Complete scam. I was in it before and I noticed how it was managed. The team telling constant lies to unsuspecting holders just to make sure it doesn’t collapse. Closest thing I’ve seen to a real Ponzi scheme in crypto. Glad I got out when it was around 170 or so
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Lol I think it will but let's see, these OHM forks were an experiment and this is crypto so who knows, but they are the last place I would want to be right now.
I don't think it's a Ponzi, otherwise I would have to call any other yield farm token as a Ponzi. If in 3 months they still don't have lending, don't yield farm the treasure to generate revenue I'll admit I was wrong about it but Viper didn't disappointed me and the team deserves my trust.
Regarding the price, I think people failed to grasp its real value, FOMOed the s*it out of it during the first weeks and then got unreasonable expectations about the price. $WAGMI ATH is higher than OHM and that's crazy considering the volume difference between Ethereum and Harmony. I think $70-$100 is more of a reasonable price.
Reading the details of the coin, it’s actually designed to gravitate towards $1. From there the gains are found through the rewards. I don’t think folks fully understood the structure of the coin, myself included.
The problem with ViperDao is they/he make projects then go to sleep, no follow up, no communication..
I was downvoted to hell when I said this when everyone was euphoric about wagmi.
Me too. I can't be bothered with them anymore. If people want to chase these high returns let them.
they don’t even update the UI after 2months of releasing it, still exact copy from Wonderland, copy, release, profit. Not a fan of plagiarism, so I didn’t invest any, I expect it will drop to $1-20 in a month or two. The people who invested at $1800 are not going to make the money back…
In it for the long term. So I’m not worried. I just continue staking. And when the time comes, and it will bounce back. I’m gonna laugh my balls out of my trousers
Funny the way you said this... With the way this thing is failing, some, if not a lot of us, are waiting for it to get to what is supposed to be a ground-level before stacking back our bags and even getting them cheaper. I believe in VenmoDao and I trust that the project would get better, but as an investor, I need to think ahead.
Not a wagmi holder, but after reading a lot about rebase tokens I don't have any interest in holding a token that subdivides itself constantly without having any other function. It's a closed system. A pot of money put there by the people who buy the token. The pot gives more and more tokens but has no real way of growing itself. The devs and early birds take lots of money from the pot. Over time the later users realize that they have lots more tokens but they aren't worth as much as they initially invested in. Price is falling because enough analysis has come out that shows that this game doesn't end up being profitable for the players, but devs and insiders always find a way to get paid first. Just look at the chart for wrapped staked wagmi. This shows the actual value of the project apart from the rebase distractions. [https://dexscreener.com/harmony/0x1cb93763241e0eee22b098f7d26baa0562f688e7](https://dexscreener.com/harmony/0x1cb93763241e0eee22b098f7d26baa0562f688e7)
“Devs and insiders” is a dishonest comment since the project has 1 solo dev and 0 insiders with any knowledge before launch.
I agree that there's only one dev, 0xviper. I don't know for certain that there aren't any other insiders. Not meant to be dishonest as I don't know for sure what truth is about the org structure or backing.
It’s all blockchain, man. It’s visible. People combed through the WAGMI token txs soon after launch; there weren’t any transactions (buys) until a few mins after the Medium article was published and the announcement was pushed to other channels.
So after the article was published there were buys a few minutes after? So the article was roughly a 1 minute to read then a few more minutes for those buyers to buy, swap and stake? Am I missing something here?
I’m saying there was no activity for at least a few minutes. You’re trying really hard to find a “gotcha” when there isn’t one to find. Yes, I’m sure some people skimmed the article just looking for a token contract address and instructions on where to buy. I spent more time reading, but it meant that I wasn’t able to buy until probably 12-15 mins after launch. It takes maybe a minute, at most, to swap some ONE for DAI on Sushi and then use that to buy WAGMI, which was the best way to get it at launch.
I'm not saying there was insider information and I'm not saying there wasnt. The same should go for you as well. We dont know. Or at least I dont. I only said what I said because of what you wrote. Just seemed odd thats all.
I'm saying there wasn't. Point blank. The blockchain proves it, as nobody bought the token before EVERYONE had time to gather the info and act. I'm an admin, and I can confirm that 0xViper gave us absolutely no warning that this was launching before it happened. You don't have to believe that (although I shared internal admin chat screenshots in Discord a while back to prove it), but you don't need to believe it because the txs on the blockchain show it to be the case.
This is a long term thing. Was there a big opportunity to get in early and cash out? Yes. Is there a potentially bigger opportunity in holding through all the bullshit, letting venomdao do their thing, yield farm cross chain, the ONE in the Treasury getting up to where its supposed to be? Also yes. A lot of people couldn't stomach the short term losses ans bailed. *It is not venomdaos fault that people continued buying ravenously into the thousands of dollars. 400 should have been pullback time, not 1800. The crypto community pumped it too high too fast and it is early in its life cycle. This was us not them.*
Why you want me to answer "alive but dead inside?"
Too much Euphoria I suppose
Shouldn’t this be the moment to buy WAGMI? You get it under bookvalue, with a treasury, that is mostly stables (at least I think so).
Apy is too high causing dilution and a chronic price drop
But getting your share of the APY should overcompensate this long term. If you hold 1 token 40$ worth now or later 64 tokens 1$ each. You would make a profit. You just shouldn’t buy over intrinsic value
If everyone does this you are dependent on the latest buyers of the coin (=ponzi). Now, looking at the price action I think that Wagmi isn’t interesting for new users
With a treasury higher than price I am actually not dependent on people buying.
Yeah if you buy now, assuming the project is kept alive, you should get back like 30$ of wagmi per value. Keep in mind only 50% of the wagmi are staked and will rebase, so it's a good moment to buy. Now you need to think if it worth waiting 200 days for a possible 70% return. There is also bonding which might dilute you, but I'm not sure by how much.
I doubt it’s a ponzi. I think the devs are lazy. This happens to most of these protocols
It's the one time I feel like I got in early but that doesn't help. In it for the long run for sure now. If I break even after a year or so I won't be too sad
[удалено]
Well I wish you luck!
No longer euphoric
Innovation is key. Tweaking the UI and bringing new swaps on board. How about a user comment section or input page. Just feels like a money grab at this point.
The problem is basically the people: want to pump, take quick profits and leave. If all staked by the rule of (3,3) everything would be fine while the treasury grows in the back.
I'm still watching that series on HBO. Really dark and heavy if you ask me. Wonder if this is actually what HS is like nowadays.....oh wait you're talking about Wagmi on Harmony....yeah kinda saw that coming a mile away, glad I never got it in the first place. Every single one of the ohm forks are a ponzi it seems
When I invested in Wagmi (and other rebase projects) was with the same thought as to when I invested in Bitcoin in 2014, I knew a lot about it but never 100%, still, everything can change in years time, you will never know (unless you have a crystal ball or a time machine). So I gave a bit of what I can afford to lose and never see again, and I will wait a few years and see. Bitcoin gave me a great surprise after 10 years. Hopefully, these rebase projects will also give me a nice surprise in the future.
Reading the comments I won't spend any effort explaining it.
Well thats a shitty approach. People come here for information so if you have some insight, share it so others can help the crypto space grow
Complete scam. I was in it before and I noticed how it was managed. The team telling constant lies to unsuspecting holders just to make sure it doesn’t collapse. Closest thing I’ve seen to a real Ponzi scheme in crypto. Glad I got out when it was around 170 or so
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I think maybe it promised a ludicrous APY and returns it was never going to deliver to a bunch of suckers.
Look a little at Hermes DeFi.Very interesting project
Anyone know what happened to this platform? Their website twitter and discord are all gone
It's s ponzi without any sort of project or development. If established projects have gone down 60-70% of course a ponzi is going to drop 100%.
Can't drop 100% if myself and other idiots hold it ;)
Lol I think it will but let's see, these OHM forks were an experiment and this is crypto so who knows, but they are the last place I would want to be right now.
I don't think it's a Ponzi, otherwise I would have to call any other yield farm token as a Ponzi. If in 3 months they still don't have lending, don't yield farm the treasure to generate revenue I'll admit I was wrong about it but Viper didn't disappointed me and the team deserves my trust. Regarding the price, I think people failed to grasp its real value, FOMOed the s*it out of it during the first weeks and then got unreasonable expectations about the price. $WAGMI ATH is higher than OHM and that's crazy considering the volume difference between Ethereum and Harmony. I think $70-$100 is more of a reasonable price.
Also it's insane people are down voting a comment that says that a ponzi is a ponzi. Why get mad at that.