/biz/ - Business & Finance

>>23005064
>Dev wallet burned has of its inflated funds and will do it again in the future if needs be
Dev wallet burned half of its inflated funds*
One day. One day I'll be able to phonepost without spelling mistakes.

Actually, I'll make use of this opportunity to shamefully self bump and post the proof that they did burn tokens. Compare pic related to today's etherscan balances for xETH.

I'll bump this thread only posting relevant stuff this time, unless degenerates want me to keep posting girls in skimpy outfits. I'll post this pic and to prove that the burn event actually happened, now that you can check on etherscan that they went through with it. I'm glad it didn't have any real impact to the price.

>>22960832
That's a fair question, actually. But that's also hoping for the token to survive until Christmas, or at least till November.
Seeing as the "purpose" of the token is to be an ETH peg, I expect the price to be closer and closer to 0.01 ETH as time advances along with more liquidity provided that will reduce the volatility, while increasing buy pressure for a time but ultimately giving whales necessary funds to sell.

However, since LP-Staking hasn't been made available yet and seeing the growing interest for xETH (just compare the daily volume to one week ago, of see the holders list steadily increasing) I think that it has at least 1 week or two of profits to be made thanks to the positive sentiment following staking being implemented, the dev wallet burning half of its funds, and marketing. But that's my hopeful take and I'm not really a good market trend analyst.

>>22934791
I think I mentioned it in the OP, but what the team refers as Burn Event is when they'll get rid of half of their funds in order to ease fears firstly, and reduce the supply.

The price is expected to go up as a result, thanks to hype following this event ("oh wow, the team isn't greedy!!! buy buy buy!!! moon time!!!") and of course supply and demand.

>I think I might swap xeth for eth before the event, what if we get rugpull instead
Trust me, you're not alone worrying a little about what may come afterwards. The team remains anonymous and there's no guarantee if the code was properly audited to prevent a sudden bug or something.
Now I'm myself wondering if the cons and risk outnumber the potential profit to be made. Scared money doesn't make money, but there's a difference between taking a measured risk and blindly believing in something just because.

Oh yeah.

The team is planning to burn 50% of their funds, I forgot when but it's going to happen soon™. This should certainly help in strengthening faith in the project, which is already quite high despite only being 2 weeks old.

It's a point I often forget to address when making these threads since I'm more focused on the token itself, but from what I've seen so far and according to the overall sentiment in the TG channel, the guys behind xETH are legit. They even reimbursed a retard who fucked up somehow, by losing his funds or something. They had no reasons to do so and yet went that extra mile. This could easily be a stunt to create false legitimacy, but the gesture was appreciated and remembered nonetheless.