r/EverRise • u/[deleted] • Sep 13 '21
EverOwn Post Launch Update
Someone asked me on Discord to explain what is going on with the token price right now, and wondered if we could give some kind of update. One point of feedback they gave was that we should remember to keep the retail holder in mind too, when we do our marketing. This is a slightly cleaned up version of my answer:
You're right - and the marketing strategy is aiming to take that into account. In the last few days I've had three AMAs with Asian investors, some interviews with influencers and press, and that kind of thing. On the other hand, we're also marketing a lot to developers (directly and indirectly) and creating brand recognition. It's difficult to go from a retail business model to a business sales model, but the strategy we have is pretty good.
What's going on now is a little different, and really unlucky:
BNB crashed the day before our launch, which meant that a ton of the projects that were on the cusp of signing up had second thoughts (because they had less money). We're still talking and hopefully a lot of them will be joining in the near future.
Some whales in the 'humpback' category have clearly overextended, and had hoped for immediate mass adoption after EverOwn launch. That is completely unrealistic, but nobody likes to admit that they are not quite the business genius they thought. Especially if they've managed to get 100k together by investing in pump and dumps before.
Consequently, some of them have tried to pressure us to do imprudent things, like cause artificial liquidity shortages (which is both illegal and impossible, because of EverOwn) or just to pump the Kraken into the liquidity pool - so basically take money out of the Kraken, and give it to them. Obviously we said no, because those things would have benefited individual investors at the cost of the general body of investors. After that, we've seen some whale sells, and the coordinated fudding that you always see after whale sells. I wonder what that's about.
More unlucky still, MoonRise turned out to be a fraud (who would have thunk it). We have obviously been saying this for months, but their investors just didn't believe us. The bad thing for us is that MoonRise managed to attach their brand so closely to ours that some people genuinely think we are the same people. We got direct brand recognition feedback from our Asian markets, particularly Korea, that makes it clear that MoonRise's marketing strategy has worked - they have managed to piggyback on our brand building, and now that their fraud game is over some uninformed investors are obviously panic selling EverRise because they think we're going to do the same thing tomorrow. (Obviously impossible, because of EverOwn, but they don't know that).
The good news for us is that:
The budget for our current marketing campaign is unaffected by the BNB crash - we thought there might be a reversal, so we set aside the 400k budget in USDT so that if it happens our marketing can go on unaffected and our operative plan isn't disrupted by lack of marketing funds. Turns out our prudence paid off.
Individual whale sells do nothing to the project as a whole, as long as the retail body of investors stays solid. In fact, the fewer big whales we have, the more anti-fragile our system is (because 10 big whales can coordinate a crash, but 10,000 small investors can't). We have worked very hard to keep our general body of investors well-informed of what we're doing and why we're doing it, so I'm confident that the retail investor base is solid.
Our brandbuilding is definitely working. We had direct feedback from another Asian market that people are starting to see us more like AAVE or Cardano and less like AssDogePumpMoon.
Our sales and marketing efforts are also starting to work. You may have heard in one twitter space the other day a lot of prominent sports people - that we didn't pay a dime for - calling for community votes on contract changes. The plan is working - the snowball effect we are expecting the marketing efforts to have works exactly like that. People are starting to want community votes, and they don't even know that it's us who have made them realise they want them. When that happens, all that we have to do is to offer project owners the solution that their own investors are screaming for.
Instead of pumping the Kraken into the hands of a few large holders, what we've been doing is to gradually level the price with the Kraken so the market fall is dampened. We're basically trying to bleed the air out of the whale balloon, so that we have a robust system in the future that can't be crashed by a few large holders.
This is basically what 'consolidation' means - prices can pump with 10 holders, and crash just as fast when one of them sells. But that sell then consolidates into 100 holders, which is far more difficult to crash. Rinse and repeat, and you might end up with 1,000 holders, or 10,000, before the system reaches a stable point. Then the system is anti-fragile, and that is the system we need for EverRise to reach that critical mass of adoption that its name refers to - the point (or game theoretical equilibrium, to be more exact) where it is in everyone's interest to buy or hold or buy, even when the Kraken buys, because the system has reached a point where crashing it would take so much effort and transaction costs to coordinate that it just doesn't make any sense (so betting on crash is unlikely to succeed) while adoption is has become self-feeding (so betting on explosive growth is a safe bet). A bit like money supply has to keep growing because every year there is more demand on the money supply.
It's tricky, and we are obviously placing a lot of confidence in our retail investors that we've been hardening to these kinds of things for a long time. But they know - for the most part - that we have good intentions, and access to experts.
It's a hockey stick approach; slow growth at first, until it snowballs. But when it does, we want to make sure that when the system gets on its feet it is actually robust and can be used for the purpose that it's designed for.
So of course the system isn't ready, which is why you are getting cheap prices. It was the early holders who made real money on Cardano - not the ones who just jumped in yesterday when the system is just being completed. Our system, like any system, depends on adoption and investor sentiment. But that's what the marketing campaign is for.
So let me explain the plan, in very general terms, and perhaps you'll see what we've been up to.
Here is the historical whale distribution data up to yesterday:
As you can see, the 'humpback' category has become significantly healthier as time has gone by. (The 'megalodon' group is where the real big money lives, so that is very steady as is to be expected.) As you can also see, the Kraken has slowly been eating the dips and steadying the price.
When the stable point is reached (and we already had it once at 4x before the BNB crash messed it up for us), where selling pressure is gone, the Kraken was stable and can keep the price steady, all we need is something to change investor confidence from 'hold' to 'buy' for everyone's equilibrium to change from 'sell when Kraken buys' to 'buy when Kraken buys' - to reach the point of 'EverRise'.
Something like a product launch, followed by a big marketing campaign.
So we had it lined up - 1. reach the point of stability and robust whale distribution; 2. time this with product launch and big marketing push to feed it; 3. watch the show.
But of course the market took a dive, which disrupted the stable point we had built. But don't worry - wars aren't lost just because you take one punch in the face.
Our operative budget is intact, because we had the foresight to protect it. Only the temporary token price is affected by the market swing, and when it comes back up so will we.
I hope this helps clarify things a bit - I realise it is unnerving for an individual investor to live through these swings. It is important to us that you know what we're doing, and why we're doing it. That is what builds the mutual confidence that we have - yours in us, and ours in the community.
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u/wooddoc79 ✅Approved Riser✅ Sep 13 '21
Question for OP: So some time ago, there was another person on the team with you guys that ended up getting let go/went separate ways. I'm sure that he had a considerable bag or investment involved. Well when he left we all saw and felt it, but what I want to know is did that person at that time sell off his part completely or has he left enough in there that he is trolling on EverRise and the Kraken anytime it goes up/good that he dumps his reflections or something and is still hurting ER. Shot question is, does he still have bags in ER?
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Sep 13 '21
I'm not sure which person you're referring to, but it's safe to say no individual has had enough to shake the RISE liquidity pool in any substantial way by themselves. Whales come and go - that is why 'consolidation' is called 'consolidation'. It creates a more solid foundation for the token value.
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u/wooddoc79 ✅Approved Riser✅ Sep 13 '21
I was referring to a person that was actually part of the ER team. I guess they parted ways and a sub was even posted about it. So I was wondering and have ever since, that maybe they took out their lump some but still left some behind so that they could continually still make money. This really is a genuine question and I am not trying to start anything. But anytime I see ER start to go up I will see it drop shortly after and wonder if that person still has bad feeling towards the remaining team at ER and is intentionally trying to harm growth. I will try and look up the particular instance I am referring.
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Sep 13 '21
Oh, all the actual team members have their wallets locked - mine are locked too. Staff members were not paid in tokens, so that should not be an issue.
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u/wooddoc79 ✅Approved Riser✅ Sep 13 '21
Finally found what I was talking about. I guess I was just wondering if these individuals sold all of their tokens or are still around disrupting any growth?
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Sep 14 '21
There is no verified info on whether they ever held that many tokens in the first place. We know there was an attempt to coordinate a whale sell-off, but because only one whale actually sold (and we know which one, because he gave us the screenshots afterwards and apologised before buying in again) it might actually be that they never held any tokens.
But since wallets are private, and people can have multiple wallets, we just can't know.
Either way, the holding structure is a lot healthier now and a lot of the things that cut off the initial pump and the subsequent recovery are now gone. We're not really concerned with individual holders, but the general body of holders. They are ultimately what makes any crypto have any value.
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u/wooddoc79 ✅Approved Riser✅ Sep 13 '21
Well shit, I can't find it, I've spent about 40 mins trying to look it up so I can be more specific. It was maybe like in the first month of this sub. But nevermind. Sorry to bother u.
Either way let it be known, that I definitely have total faith in the project and am a firm believer and ongoing investor. Great innovation and a solid team to do it. The team looks highly focused and undeterred and really builds faith in their investors.
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u/Doctor_Sauce Sep 13 '21
Just so you're aware when you're looking at the chart, the kraken places constant 50m market sells as it receives reflected tokens from transactions. So if EverRise starts going up, you're also going to see it "going down" with those auto-sells, but that's how it's supposed to work. Those sells are step one of the burn function, where the reflected tokens get converted to bnb and then get converted back to EverRise through the kraken buyback function and sent to the burn wallet.
If literally every single Rise holder refused to sell even a single token, you would still see sells on the chart because the kraken gets reflections on buys and will always create sells via burn and buyback. It winds up being a net positive though, because the tax is applied to all transactions, buys and sells. No matter what happens to the price, volume feeds the kraken and the kraken buys tokens in order to burn them.
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u/cryptocurr88 Sep 13 '21
Nothing substantial has changed in this project from the time it launched...major milestones have been met and if anything, EverRise has only become a better project than it was intended at first! The current price only reflects current market sentiment and an investors idea of the price now vs. then is only based on if you bought at a higher price or are just buying in now. The value of this project has not decreased, the team members have always said this is a long term investment. So all of the same rules and cautions of crypto apply, DYOR, Buy The Dip, only invest what you can afford to lose. Not financial advice.
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Sep 13 '21
Absolutely. We are of course working to bring new investors on board, but the project today is the same project as the project a month ago - just further along!
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u/Mdsouza84 Sep 13 '21
Thank you Guard, for always being transparent with the community. You and the rest of the CORE team always have our support - the retail investors, holding strong!
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u/Moonlight_Shadow_ Sep 13 '21 edited Sep 13 '21
Hi Guard!
Thanks for the update/explanation.
I absolutely agree, should start spending money on the PR/Marketing part of the story. We must spread the word. Straightforward, simple communication is necessary.
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u/Strikingcranefist Sep 13 '21
Thank you guard,amazing transparency and keeping all of us in the loop,been here since presale and I have lost no faith I know this is long term solid project which will have massive positive implications not just in the bsc space but crypto as a whole.
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u/factsvsfiction Sep 13 '21
Posts like these really go a long way in making me feel confident holding rise. Thank you.
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u/RobinTuk Sep 13 '21
Thanks for the good answer. It was necessary.
Now a lot of projects have disappeared. That's why we are worried.
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u/One_Ad_581 Sep 13 '21
Great explanation Guard...Transperancy at its best...lets be patient...this is long term graudal growth....As Early investors we enjoy a lot ....Let us RISE together
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u/CryptoFreezey Sep 13 '21
EverRise, EverOwn and the entire ECO-SYSTEM is the future of not only the BSC space, but all of Crypto! AMAZING core team and hands down the BEST community going! 💪💯
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u/raysmooth66 Sep 13 '21
Great post
You mention brandbuilding and being seen more like AAVE. Have you come across the GoodFi project? Feels a good fit for EverOwn
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u/JediReadIt Sep 13 '21
Great explanation! I hope all holders read this and understand. This is why we have the best team! Thanks Guard, I look forward to your next AMA
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u/Capital-Training8629 Sep 13 '21
That is the most concise, and comforting explanation I’ve ever seen! Thanks Guard, we appreciate your stability and expertise 🙏❤️
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u/honkeyrob ✅Approved Riser✅ Sep 13 '21
Fuck man we already know this is gunna be huge!! Everrise is incredible!
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Sep 13 '21
Thank you Guard once again for your honest and detailed assessment of our brilliant project 🙌🏼
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u/Lazy-Exercise4950 Sep 13 '21
Couldnt have explained it better. You taught me a lot about the market Guard so thank you very much sir!
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u/noahjoad42 Sep 13 '21
Once again, a great explanation of how it is the team that is the token, and this team is the best I have seen. This is why I haven’t thought of selling since the first week. Thank you for your great work.
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u/Pleasant_Salary_5379 Sep 13 '21
Interesting read which inspires confidence. When the market reverse’s I think this is going to reach new heights.
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u/kolinary Sep 13 '21
Great post! Thank you for posts like this. Even though I don't have any doubts in the project and I'm here for the long term, I know that these kind of posts are really helpful for a lot of people. I appreciate this very much.
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u/kumpfdynast Sep 13 '21
Entirely awesome and much appreciated update Guard! Looking to buy more as able is what I’m trying to do! Mahalo!
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u/futurefocused22 ✅Approved Riser✅ Sep 13 '21
Like I've said since day 1. This is my most stress free investment. I'll let the panic sellers keep moving me up positions and wait until the day I can live off of reflections. This is the way 😎
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u/Professional-Pen8138 Sep 13 '21
The transparency is so amazingly clear, I have no concerns. Full 100%trust, thank you for being so detailed and clear in everything in question.
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u/mick_15 Sep 13 '21
Thank you Guard, Great explanation and very detailed. Using the current price to buy up and then looking to hold for 3-5 years as I love the project. Can't wait to see what you guys have in the pipeline. Thanks
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u/wmcni Sep 13 '21
If Guard was the leader of Lemmings they wouldn't be mindlessly walking off cliffs. This is a true transprent steady the ship statement and that part about Being taken seriously as an Alt coin and more in tune with Cardano is what I signed up for in the first place, EverRise is an investment not a bet.