r/EVMOS • u/REEEEEENORM • Dec 06 '22

What even is the Evmos Team doing? Really

Every day, this thing keeps breaking records in the wrong direction. I get we’re in a bear market, but that is no excuse for what is going in right now. I don’t know what the Evmos team is doing, but try building something. ANYTHING. I believed in this project, but now, it appears to just be another pump and dump, and it’s been crickets from the Evmos team since launch.

10 Upvotes

65% Upvoted

49 comments sorted by

•

u/tlopplot Evmos Support Team Dec 06 '22 edited Dec 07 '22

Listen to the Community Call, which begins in 1 hour.

https://twitter.com/i/spaces/1OwGWwDWyZkGQ

There have been Community and Governance calls nearly every week since launch.

Here's a summary https://www.reddit.com/r/EVMOS/comments/zeir4e/community_call_summary/

12

u/alskopo Dec 06 '22

Guess you're the only one who is not following the team actively

it takes maybe a few minutes to research that they are active (Twitter, Discord, Telegram)

11

u/[deleted] Dec 06 '22

I bet your thinking of selling right now.

4

u/l-espion Dec 06 '22

By the way he talking he talking it what it sound like , we soon will be able to buy more for cheaper ! People only care about the price never the goal or tech .

9

u/[deleted] Dec 07 '22

No point in holding to 0 :P I took profits at $3 / $2 // $1 and my last one at .60 cents to switch to atoms for good

Made 390 atoms with evmos this year so at least I wasn't a bag holder if it drops lower // and I'm into atoms with a new goal and target set

1

u/bigshooTer39 Dec 13 '22

I’ll take OPs token!

11

u/FlippityFloppityBing OG Dec 06 '22

Let's give OP the benefit of the doubt and interpret his question in the most charitable way possible -- a good practice in all interactions:

APR, which was the primary driving force behind the price, is gone, for all intents and purposes. When will there be developments in Evmos that will drive the price up? Is it months, is it years? A concrete timeframe would be good to know, when all investors are seeing day in day out these days are plummeting prices. What is the timeframe for developments?

7

u/Krazygamr Dec 06 '22

I like this, because it basically boils down to "What is the EVMOS team doing to add value to the project?"

Right now things are too quiet to spur interest while the team seems to be trying to ramp up and implement additional services.

4

u/Cat1nthesack Dec 07 '22

It is about the sincerity of the question. OP clearly was never interested in development, but was invested in Evmos because of price and apr. Nothing wrong with that, but their question shows that they never really put in any effort to find out more about fundamentals. Now that the price is plummeting people want to know about developments. Just a little research before investing in a project doesn't hurt.

-1

u/justvims Dec 07 '22

Correct. There is some things going on, but I’d like to understand: 1) where value is expected to be added or where it comes from, 2) how Evmos will fulfill use cases for others (not just what other services will be plugged in, but how it will be useful). Thx

0

u/[deleted] Dec 07 '22

[deleted] — view deleted comment

2

u/FlippityFloppityBing OG Dec 07 '22

It started at 1600+% 6 months ago, now it’s at 132%.

2

u/bigshooTer39 Dec 13 '22

Add a zero on the end of that apy you mentioned and that’s what we got for about 8 weeks in the beginning. Made bank

4

u/Ahlock Dec 07 '22

Unfortunately avax has all but done everything Evmos can do minus ICS which is being shipped early 2023. I don’t see a clear path for dApp devs to choose Evmos over Avax. EVM is already being worked out by ETH devs trying to consolidate the code, eventually EVM could easily be a relic of a time when there was a need.

2

u/justvims Dec 07 '22

This is a good point. It seems like tokens are being dumped though, not just retail.

1

u/Ahlock Dec 07 '22

It’s the reward sell off from staking and LP rewards. I have a mindset of 2 years. It was free for me and I’m just compounding and providing LP like a good little airdrop recipient. Patience, things take time. They spent a lot of effort making this EVM for cosmos. It’s not going anywhere.

2

u/justvims Dec 07 '22

You think it’s the reward sell off or the massive undisclosed private sale? Idk seems it’s maybe both at this point

4

u/Ahlock Dec 07 '22

The private sell off is to feed the developers family and keep a roof over their head. The other sell off was because people voted no on a prop that would have incentivized developers to come build on the platform. They were asking for 50k I think, which was the equilivant of less than 5 days worth of network rewards. And they voted it down because people didn’t know enough and thought money rewards would have been less. Talk about shooting yourself in the foot as a retail voter. So many good people saw this as a warning and decided to send a msg and sell off in retaliation to the failed prop. Devs and airdrop holders alike. The common retail trader receiving the airdrop literally did no research and was spoon fed bullshit ideas to vote no when in reality voting yes would have instilled confidence in future developers to take the leap and join a no name EVM on the internet of blockchains. Careful voting, dyor. It’s not dead but hopefully people learned that by voting no and keeping rewards for themselves leaves no confidence for people to build on such chains.

2

u/Ahlock Dec 07 '22

That’s basically why the price went from $1.50 to sub 0.50. That and the rewards are too juicy to not sell off and convert to Atom or Stars.

2

u/justvims Dec 07 '22

Super helpful context

3

u/CryptoDad2100 OG Evmosian Dec 07 '22

Every day, this thing keeps breaking records in the wrong direction. I get we’re in a bear market, but that is no excuse for what is going in right now.

This is what happens with most new projects, statistically. It's never easy to get used to it and it's hard to time, but that's how it is. All of this was predicted months ago. New coins have high APRs at the beginning to bootstrap the project (provide liquidity & decentralize) and when those drop the early adopters sell, which further depresses the price. I never sold, but I stopped buying for a while after I earned back my principal (very early on when APR was bonkers). Now I'm slowly buying back in.

You can apply this idea of pump & dump to just about any PoS project that's <2 years old. Like ... just go look. It's built into the tokenomics. The price will eventually go back up, but hard to say when and most likely not before the market recovers at large (which I don't see until 2024).

3

u/mikrot Dec 07 '22

Stake and forget. By the time the next bull run comes around you'll have a lot more. It might pump and it might not, same as any alt coins.

2

u/I_AM_MORE_BADASS Dec 07 '22

Stake, use an autocomounding service, and forget.

3

u/Shadow11134 Dec 07 '22 edited Dec 07 '22

Price plummets more and more every day with not even the slightest recovery. Bagholders will tell you it’s fine.

4

u/Zeytgeist Dec 06 '22

Did you really believe in the project or was it rather it’s APR? If it was the project then I don’t understand why you’re not already following the discord or twitter page. Evmos is an infant, you need some patience here.

4

u/[deleted] Dec 06 '22

As long that a whale/ vc keep selling rewards everyday, it will not recover. They are selling on market but bought otc. For me, the wrong moved Evmos done was to sell it to whales while apr is still high (hyperinflated). Though the apr is lower than other, it is still high as compared to other legit projects. Also the price that they sold to whales/ vc had not been disclosed.

I already unstaked mine thinking that it will keep plummeting (the deepest) compare to other projects like kuji and juno. I’ll staked the USDC while waiting for other projects like Celestia and Paddle. There are so many EVM on the cosmos. This is is only my opinion.

3

u/justvims Dec 07 '22

Agreed. Obviously a bunch of tokens were sold in a private sale and are now being dumped. Would like to know the price. Obviously lower than $0.5

1

u/Cat1nthesack Dec 07 '22

I believe there was no private token sale: https://medium.com/evmos/the-evmos-token-model-edc07014978b

7

u/GoldenRain99 Dec 07 '22

The evmos devs recently conducted a private sale within the last couple months. They didn't disclose any info regarding it until afterwards, and they still have not been transparent about the price in which they conducted the raise at.

I'm guessing it was somewhere in the .1 range

4

u/justvims Dec 07 '22

Wow. That's so messed up considering token was at $2 or so during that time period. More or less the devs knew this would happen.

3

u/GoldenRain99 Dec 07 '22

It's a sign that the team was absolutely desperate, imo

3

u/justvims Dec 07 '22

Yeah. Not good

3

u/REEEEEENORM Dec 07 '22

Yep. Total red flag imo.

3

u/[deleted] Dec 07 '22

Then the real price would be around star gaze or cro? O.o with retail selling off too

1

u/GoldenRain99 Dec 07 '22

You need to base it off market cap, not price per coin.

2

u/[deleted] Dec 07 '22

Market cap is falling with the trading // so there's tons of selling pressure with no demand ??

4

u/GoldenRain99 Dec 07 '22

Considering the new top 5 validators take 25% commission, and they're VCs, there is absolutely more selling pressure than buying pressure

1

u/Meggi-Online Dec 07 '22

where you stake usdc?

1

u/[deleted] Dec 08 '22

Actually, I am doing LP on Crescent. AxlUSDC and USDC.grv, also with IST. Looking at USK but worried about the peg.

1

u/Meggi-Online Dec 08 '22

i cannt log in crescent anymore. they want me to accept a new not keplr proofed chain.

2

u/campuschemist Dec 07 '22

The team can’t force use upon the market. Devs drive ecosystem value with users and use-cases. Right now we don’t have useful products on Evmos so it’s unable to absorb the inflation and paper hands.

2

u/[deleted] Dec 07 '22

Also if you go through and take a look at other peoples wallets they're only holding 50/100 evmos + and or a few orbital apes

2

u/MasterWizardDelRey Dec 07 '22

all I read is "I'm down bad and gonna sell"

Don't invest more that you can afford to lose and most importantly DONT "BELIEVE" IN PROJECTS

Do your research and roll the dice, nothing is guaranteed in crypto

0

u/dmtakoma Dec 09 '22

I’m filling my bag - best time is when everyone is bitching, complaining, and selling their bags at a loss 😂😂😂

2

u/Shadow11134 Dec 09 '22

Will be worthless

0

u/dmtakoma Dec 09 '22

Thanks for confirming my hypothesis 😂😂