The fall of the big -> Rebase-token battle results (January 12-January 19)

What a week we have seen. It all seemed quite good at first, but then it just turned red, and we have decided to call it the fall of the big. What does that mean? The big and the solid rebase tokens are actually the ones experiencing the biggest losses in this last week, something that mostly came as a result of a giant whale selling $11,000,000 worth of OHM which then impacted the entire market, causing liquidations all over the place, which again boosted the prices further down.

Last week, HectorDAO was the big winner and it was the only of the included rebase-tokens to actually be worth more than our initial investment. That is no longer true, because HectorDAO had a terrible week, just like the other famous rebase-tokens like TIME and OHM.

Since last week, we have also added four new tokens to our rebase-token battle; [REDACTED] Cartel, FantOhm, Invictus, and Exodia. These all seemed to do well, especially [REDACTED] Cartel which traded well above our entry-level for a long time, but with the fall, these also fell.

the best olympus dao forks
Click the image for a high-resolution version of the chart.

The best performing rebase tokens last week

If you take a look at the little graph above, you will see that the last seven days have been truly bloody days. The biggest loser was Invictus, followed by HectorDAO, Wonderland, PapaDAO, [REDACTED] Cartel, and OlympusDAO. With the exception of PapaDAO, this is actually a list containing the tokens most people would expect would be the best, even in the midst of a bloodbath. Well, not the last seven days!

The only token that actually experienced a positive curve last week was SpartacusDAO. That is probably due to the fact that this token has already been bleeding heavily, and now they are operating with an APY of 100%. You read that right, 100%. Comparing that to WAGMI which has an APY above 200,000% at the moment, it almost makes you laugh, but if you look at the results, it clearly performed better than WAGMI, meaning that the investors had a better week with a low SpartacusDAO APY than with an extreme WAGMI APY.

FortressDAO launched their stable-coin last week, but it hasn’t really helped the price. The volume is low and the price is easily manipulated both up and down.

Gyro Money is remaining quite stable, but this is yet another coin that has a low volume and it can easily be impacted by whales either buying or selling. No matter what, GYRO has had a quite solid curve in the last couple of weeks!

Top three in performance between January 12th and January 19th

  • SpartacusDAO (5% increase in value)
  • FortressDAO (0,45% decrease in value)
  • GyroMoney (5% decrease in value)

But, it isn’t completely fair to just look at the results from the last seven days, because the big picture is needed to really see how the experiment is doing.

-> Find more information about the experiment and all the tokens included right here.

So, let us quickly take a look at the overall picture and the performance of the different tokens since the origin of the experiment.

The overall picture of the experiment

the best performing rebase tokens
Click the graph for a high-resolution version.

Above you can see a graph showing that even though HectorDAO dropped a lot in value last week, it is still the best performing token of the experiment (“only” down 22% compared to the initial investment amount). It is currently followed by Exodia, FantOhm, [REDACTED], and Invictus, but since those four tokens have only been a part of the experiment for one week, it isn’t 100% fair to count them in on the long-run results yet.

Wonderland has been really stable since the start of the experiment, but it has been bleeding hard the last seven days, not only because of the OHM whale selling, but also because of the chaos caused by the project moving “away” from TIME/MEMO, and instead focusing on wMEMO, and then also the open discussion about whether the entire rebase has to be terminated in order for a new model to rise.

All in all, there has been a little chaos around Wonderland, but we also know that they did a large buyback as the price of wMEMO dropped below the backing price, and they also have an airdrop coming up and several other projects around the corner.

What’s in store for the coming week?

We have absolutely no clue, but after the bloody days we have been through, there should be potential for gains in the coming seven days. If Wonderland should come with further good news, they might have bigger potential than most of the other coins, and it should also be mentioned that HectorDAO is trading just next to their backing price (and they have bought below backing price several times already), so HectorDAO might also have a good week ahead.

What do you think? Whare your thoughts about the last week and the upcoming week? We would love to hear your thoughts, so write a comment and let us know what’s on your mind!

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