Once again we have to remove one project from our OlympusDAO fork experiment. This time it is PapaDAO, but luckily, it wasn’t because the project rugged (like with TaiChi). This time the team behind the project simply said that a lot has changed since they started the project and the popularity of these forks has fallen a lot. Due to these and other factors, they decided to stop the project (temporarily), and they might decide to pick it up as they have many ideas and thoughts about the future.
In our project, we invested $1000 in PapaDAO on December 8th. Since then, the number of tokens has grown, but the price has declined a lot. But, since the project just stopped, did we lose our entire investment? Not at all!
How did PapaDAO bring a fair end to the project?
PapaDAO decided to sell everything in their treasury, and based on this, send all the funds from the treasury to the token holders. As a result, we received MIM tokens worth almost $500 in return.
That is outrageous, we lost 50% of our investment…
Maybe you think that is just terrible, considering that we invested $1000 and received less than half in return?! Well, that might be true, but to get a broader picture, take a look at the following picture.
If you take a look at the image above, you can see how the other tokens we included in the experiment have turned out. What can we understand from these numbers? If we would cash out our investment in ANY of these projects (with the exception of HectorDAO), we would end up with less than 50% of our investment in every single case. In fact, in most of these projects, our initial investments are down by more than 75%, meaning that PapaDAO actually brought around the best outcome of them all.
Based on this, we want to say that PapaDAO actually gave their users a fair end to the story, and we look forward to seeing what the future will bring to the other DAOs, and maybe for PapaDAO if they would decide to resurrect from the dead!
Check back tomorrow!
Tomorrow we will post a new update to our rebase-token experiment (we do that every Wednesday). Will the numbers look better this time? Which has been the best performing rebase token the last week? You will find all the answers and stats and graphs in our update coming tomorrow. Make sure to follow us on Twitter as well for interesting news, posts, memes, and more!