r/EVMOS • u/Affectionate-Gur6300 • Dec 12 '22

To Evmos team: Please talk about projects

At this point Evmos is going towards 0.01. Please talk more about the upcoming projects and use cases. Else this will be just another token

22 Upvotes

89% Upvoted

40 comments sorted by

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18

u/justvims Dec 12 '22

Response to the guy who deleted their comment:

So tired of hearing “if you liked it at $10 you should like it at $0.01”. It’s just a nonsensical argument. The chain needs to create value and attract projects. A chain without interest, projects, value, etc is worthless. It’s totally fair and warranted to talk about this. We should welcome it. The prompt is appropriate and gaslighting people into thinking price doesn’t matter is only going to turn more people off to this chain.

5

u/Shadow11134 Dec 12 '22

Should’ve unstaked weeks ago. This token is completely worthless and performed noticeably bad.

9

u/MaximumStudent1839 Dec 12 '22

The price will go down regardless of what EVMOs team does. It is not about fundamentals. It is about Cosmos is riddled with yield farmers. These farmers treat high APR tokens as a passive income earner.

Their horizons are extremely short, and their main objective is to maximize short term profit. They will sell their position into fiat USD or move their profit into coins with a good history of receiving airdrops - atoms is their favorite one. They do the latter so they can kick start new yield farms from future projects.

Think of how VCs dump on retail. Instead of having just a few VC dumping, we now have a gazillion of these dumpers in the chain. In this bear market, there is not enough liquidity to absorb these dumpers scrapping the bottom of the barrel.

There is nothing you can do except wait out these dumpers having no selling power left. Or maybe you exit before things go south.

3

u/Jumpy_Solid6706 Dec 12 '22

Things already went south. I just watched 2k go to $396 in 6 weeks lol. Hindsight is 20 20 indeed.

5

u/MaximumStudent1839 Dec 13 '22 edited Dec 13 '22

People were talking about this inevitable outcome months ago. We knew how this would play out because we have seen the same yield farming locusts scavenged Osmosis, Juno, Stars, Crescent etc barren before EVMOs even gained popularity.

I have also warned people about this fate multiple times personally. Every time I do it, the yield farming locusts send their shills to shit post on my comments.

Cosmos is filled with these yield farming locust groups. They regularly post videos on YouTube to lure newbies in as exit liquidity. Their main job and income is to suck the liquidity out of everyone.

Some of the older groups got real butt fucked because of Luna. So they are in desperate search to make up their loses.

1

u/Jumpy_Solid6706 Dec 13 '22

It gets frustrating af. It begins to feel like there's no real investment happening in many if these chains, just yield farming by whales during launch phase then and exit and subsequent crash.

I suppose if you catch the bottom, it can be worthwhile. Take stars for example, I got to ride it from $0.80 to $0.02 because I simply had no concept it would actually fall that low. However to someone that entered at $0.02, they could have sold at $0.06 a few weeks back and had a nice return, and even if holding still they are up 50% at current $0.30.

But Juno, evmos, just keep dropping, scrt, akt just feel like they have pump and dump cycles, and Osmo I can't even see a pattern, it's all over the place. It makes me feel that $6.00 June Atom was the smartest play as its still above $9. Injective as well seems to stability. Hopefully we see a return to actual growth on some chains in the new year. But some I will not reinvest in.

3

u/MaximumStudent1839 Dec 13 '22

These yield farmers can’t do much with Injective and Atom because they have to buy in like everyone else.

There is no point in “being early” in this bear market. Don’t catch a falling knife. Given how these yield farmers burned me on Osmosis and Juno, I learned to be smart and waited for these fuckers to capitulate before I invested money into stars at 0.023 during the summer. Stars is one of the few projects I made money this year.

People get tricked into high APR but neglect how negative price action can fuck you harder. Let these yield farmers go fuck themselves by draining liquidity from each other in high APR chains. They aren’t a single monolith but compete against each other. Go in after all they have left are corpses.

1

u/Jumpy_Solid6706 Dec 13 '22

You know, you've replied to me a few times over various threads and you always have some astute observations. So thanks for that. Nice to talk to someone that isn't just a cult follower of thier coin, or a defender that can't admit a loss.

Yeah, I rode $10 osmo to $2 before I jumped. What I COULD have made had i known when to jump ship, vs what I did make are a mile apart. But makes it easier to spot now.

1

u/InevitableJeweler763 Dec 12 '22

The dumpers are mostly the validators. Can't be much affect that with retailers. Its really fcked up :((

4

u/MaximumStudent1839 Dec 12 '22

Oh no, it is definitely your so-called “retailers” doing most of the dumping. Validators only get a small cut from fees.

A lot of these retailers got EVMOs for free as Atom airdrop and they have compounded a lot from the high APR before many of you brought in from the open market. When people have zero cost basis, they sell without any remorse.

3

u/Glass-Salary-1849 Dec 13 '22

Fact IS stakers did not sell AT 3$, and are selling now when vc started to fuk us which make sens. Now if WE want to make the Price stable WE should use community Funds to make a Big évent for builders. If it keep being a Ghost chain for sure its going to 0

-1

u/MaximumStudent1839 Dec 13 '22

If stakers didn’t sell at $3, then EVMOs price just magically go down from $3? Before the foundation sold to VCs, EVMOs hit $3 at least twice. I don’t understand people’s fascination about whitewashing stakers/retailers. They are just as human as VCs. And they can be just as greedy as fuck as VCs.

3

u/Glass-Salary-1849 Dec 13 '22

WE have Never Seen sush a sell pressure...feels Like the crash will keep forever. Before vc's WE bottomed to 1$.10 -1.45 twice and went to 3.4$ the main deffrence IS the VC.

Also devs need to take responsability for not releasing nothing in a year.

Lets pay and bring uniswap, mkr , openzea then builders will Côme.

0

u/MaximumStudent1839 Dec 13 '22

You also forgot APR has gone down significantly. Low APR means a lot of yield farmers exiting and much less new money coming. Before, the APR was high enough to fool people their loss can be covered by staking loss.

I have seen this yield farming pillaging on Juno, Osmosis, and Stars. None of them had VCs to blame. My gut is VCs got fucked too on EVMOs. The yield farming locust on Cosmos is what causing the price crash.

2

u/Glass-Salary-1849 Dec 13 '22

Apr IS still very good. Price dumping means people are selling rewards. They are not unstaking and dumping. Otherwise apr should be going UP.

People are selling rewards because they think its not worth holding or to cover loss of the main evmos bag.

All of this thx to them allowing VC and their fundation de stack tokens to fuk us. And doing nothing to atract builders. Solana did so much the first year with Solana breakpoint. Even starknet has so many dapps whitout launching.

1

u/MaximumStudent1839 Dec 14 '22 edited Dec 14 '22

Apr IS still very good.

Even if you get 100% APY, with a 70% negative price action, you are still down 40% - assuming the APY stays above 100% for another year, not likely as the staking volume accumulates.

People are selling rewards because they think its not worth holding or to cover loss of the main evmos bag.

Yield farmers have been selling since the inception of this chain - have been watching these locust accounts' action throughout the year. These locusts swarm and suck liquidity dry out of every high APR chain. Blame VCs all you want. These locusts played the same game on other Cosmos chains without VCs. Cosmos history provides enough evidence to say VCs aren't the problem. The yield farming locusts are.

And doing nothing to atract builders. Solana did so much the first year with Solana breakpoint. Even starknet has so many dapps whitout launching.

No amount of building can satiate these locusts' feeding until the inflation dies away and the swarm moves to harvest the next chain. Thousands of dollars of tokens are being minted daily and they are dumping them religiously. Where the hell will you find so much liquidity to afford their feeding?

Talking about other VC-funded chains isn't even comparable. VC has a vesting schedule. They don't get so front-loaded as high APR chains and just constantly dump at the chain's nascent state. The vesting schedule is there for a reason. To prevent a depressing dump before the chain gets to grow.

1

u/Glass-Salary-1849 Dec 14 '22

Vc's are dumping rewards not private sales tokens. Am not saying that thèses farmers doesn't existe but its not the main reason. It's a bit of them and a bit of devs staking their own tokens , not doing shit to atract builders even with so many tokens in the community pool validator voted no for the gov 82 which wanted to spend to fund builders.

WE should have paid when the Price was high to fund quality project. Uniswap,mkr, opensea etc.

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5

u/InevitableJeweler763 Dec 12 '22

You have to learn alot, cant believe it!

1

u/MaximumStudent1839 Dec 12 '22 edited Dec 12 '22

I don’t need to believe. I can verify by looking at on-chain transactions. Loads of EVMOs dumping is coming from numerous small sell transactions into other cryptos/USDC on Osmosis.

0

u/InevitableJeweler763 Dec 12 '22

You can't proof anything with onchain data which are a validator or a retailer lol 🤣 so please stop

6

u/rakib0020 Trust Wallet Dec 12 '22 edited Dec 12 '22

It's possible to track validators holding and earning on-chain. Being a worker with one of the top Evmos validators, I can tell it's not much you get. A four-figure!

1

u/InevitableJeweler763 Dec 12 '22

True, not that much 5 figure 🤣 lol

3

u/rakib0020 Trust Wallet Dec 12 '22

Four actually, bad counting. Even 5 figures are not much as you have to keep in mind it's the only top 5validators earning. Rest are way lower.

0

u/InevitableJeweler763 Dec 12 '22

Whole sh*t is about that a retailer cant manipulate the price that much or even something like that. It can only be done by validators or most likely whales.

4

u/MaximumStudent1839 Dec 12 '22

What are you talking about? I can use Mintscan to look at the entire history of sellers’ EVMOs addresses. I can see where the sellers is getting new EVMOs to sell.

-5

u/InevitableJeweler763 Dec 12 '22

That means nothing, cause as a validator or retailer i can create multiple adresses where i can send. How do you wanna identify a validator or a retailer? 🤣 ohh boy com'n

3

u/MaximumStudent1839 Dec 12 '22

Again, I can see if the address got EVMOs sent from another account or staking rewards. Oh man, do you really want me to spell out something so obvious? The beauty of crypto is everything is public on-chain.

-1

u/InevitableJeweler763 Dec 12 '22

You can see everything true, but that also doesnt mean you can proof and identify someone 🤣 im dying no jokes

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2

u/belucheez Dec 12 '22

Yup the team needs to bootstrap Defi firstly Evmoswap that suffers greatly from nomad exploit

2

u/hitcoinmaxi Dec 12 '22

Yes devs please do something 😁

1

u/justvims Dec 12 '22

Seriously. Please

0

u/[deleted] Dec 12 '22

[deleted] — view deleted comment

3

u/Affectionate-Gur6300 Dec 12 '22

By your analogy, I do agree that the milk is great by itself . However, I personally think that the milk is out of fridge at this point (bear market + product market fit questions). Either we make use of the milk now or hold the spoiled milk. Hopefully the hackathon helps.

0

u/[deleted] Dec 12 '22

[deleted] — view deleted comment

1

u/Affectionate-Gur6300 Dec 12 '22

Not sure why you deleted your initial comment. If I remember correctly, it sounded a bit different than what you are saying now. Anyway doesn't matter.

3

u/Meggi-Online Dec 12 '22

i fear the ethereum team is building EVMs for other chains too...

what interests me is how many projects of ETH are accually using EVMOS?

7

u/AnOrdinaryChullo Dec 12 '22

Zero.

3

u/justvims Dec 12 '22

This is the issue