It is one week since we last reported about our rebase token experiment, and once again we are fairly satisfied with the result. In the midst of a quite bearish week, the most important rebase tokens actually performed quite well, including OlympusDAO, Wonderland, and HectorFinance. But, the biggest gainer was Exodia. How come?
Exodia was the biggest gainer – why?
As you can see above, Exodia had the biggest gains in the last seven days. Of course, we are still down 80% compared to our initial investment, but this should still come as a little positive for Exodia holders. But, what caused this positive pump?
Exodia is currently holding a vote in which Exodia holders can vote about whether they want the protocol to implement giant changes and stay alive, or whether they should just stop it all and that they will then make redemption and buyback EXOD tokens from the holders at a price of something like $65 per piece. The vote will end on April 29th, and currently, a majority has voted for stopping the entire party and just have a redemption party.
Currently, Exodia is trading at around $40, but before the news was released, it was trading at around $25. Now people are betting on the fact that there will be redemption and buying tokens at $40 today that can be redeemed for more than $60 later sounds like a good deal for most people. Of course, who knows whether or not they have already made a snapshot of token holders that will be valid for the redemption, or if this is only something they will make later? And who knows, there are for sure some people who haven’t voted yet, and this might suddenly tip in favor of the protocol going further, which might cause the price to dump again. In other words, this is a high-risk investment, but this is the reason for the recent EXOD pump.
Positive results for OHM, TIME, and HEC
There are more tokens in this experiment, but I guess OlympusDAO, Wonderland, and HectorFinance are the most serious participants. Well, I would say that KlimaDAO is more serious than Wonderland, but somehow, they just seem incapable of keeping the price up, even though it is a great project with a great concept.
But, it is always good to see positive price movements for OlympusDAO, Wonderland, and HectorFinance, and this is the sixth or seventh week in a row in which HectorFinance has managed to stabilize the price around $20. OlympusDAO is more volatile, and Wonderland even more volatile, but I do have a hope that these will manage to keep up the work and bring positive results. Of course, Wonderland still runs with their crazy high APY of 75,000%, so I would be very careful investing in this protocol as this will be impossible to keep up. HectorFinance and OlympusDAO, however, are working way more strategically and I find myself to be quite bullish on both protocols.
- Want to see even more stats from the rebase token experiment? Would you like to see graphs and get more information about every single project that is a part of the experiment and about every single project that has been a part of the experiment (bot no longer is)? Check this article!
Above you can see the movements of every single token from the time they entered the experiment.
What are your thoughts about the rebase tokens? Do you feel bullish about OlympusDAO, Wonderland, KlimaDAO, or maybe HectorFinance? What about REDACTED? We would love to hear your thoughts!