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2023-11: Warosu is now out of extended maintenance.

/biz/ - Business & Finance

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22995650 No.22995650 [Reply] [Original]

Previous threads : >>22981282
>>22971713
Website : https://www.xeth.finance
Daily rebases dashboard : https://xeth-rebase-dashboard.herokuapp.com
CG chart : https://www.coingecko.com/en/coins/xplosive-ethereum

xETH is pumping, which is nice. A huge 25% rebase is coming, which is also nice. However, this sudden rise in price scares me for the upcoming retrace, going against what the team and the community want to see for the long term of the token meant to reward patience and holding. So for once, I'll begin with the bad aspects of xETH, so that you can think twice before FOMOing in.
THE REBASE ACTUALLY CAME EARLIER THAN EXPECTED BECAUSE SOMEONE (RANDOM PARTY) MANUALLY TRIGGERED IT WHILE I WAS TYPING THIS POST. PRICE WENT FROM $12 TO $9 IN A MATTER OF MINUTES. ACT ACCORDINGLY. I DIDN'T SELL YET BUT DO NOT BUY UNTIL THIS MISUNDERSTANDING GETS CLEARED.

Cons:
>XETH HAS NO REAL USECASE
>ANONYMOUS TEAM
>CODE HASN'T BEEN AUDITED BY A LEGIT PARTY
>LOW LIQUIDITY = WILD PRICE SWINGS
>NO VOLUME = DEATH
>SINGIFICANT DECREASE IN NEW BUY PRESSURE = DEATH
>THE REBASE CAN BE TRIGGERED MANUALLY BY A RANDOM PARTY

They say they'll patch it on Monday kek. Meaning that in the meantime people will be able to trigger the rebases manually once at least every 18 hours, timing their sells.
I won't even list the pros. You can read that in previous threads. Right now I'm unironically bearish and one click away from selling.

>> No.22996022
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22996022

>Yeah it happened only this time, it will be fixed by Monday trust us guys it's only one person who profited from it it's no big deal oopsie :)
>Our product works as intended. Someone was able to manipulate the market for his own gain but this isn't our fault :)
>Anyone complaining about this in the future is a fudder.

I'm unironically seething. So this is how they address a literal vulnerability? Very well could have been someone in the know, looking for an opportunity to bring the price down for whatever reason or someone greedy to sell before everyone else. Even if it happens only once, this goes to show that this dump could have been allowed to get an influencer for example, or many other possibilities of foul play that would take more than a post to list fully.

Fuck this piece of shit, now my enthusiasm for xETH is all gone. This will be my last bump for this thread, tread carefully if you want to buy. Just believe in the sage hedge against ETH and hold, you'll be fine :^)

>> No.22996136
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22996136

Okay said nothing here is my real last bump. They apparently fixed it, they work quite fast actually.
So I can list the pros quite safely now. I'll go to sleep still but this left a bad taste in my mouth. I wish I could have timed that sell myself actually.

>Elastic supply token like AMPL but without the negative rebases
>Rebases occur when xETH's price > 0.01 ETH
>Rebases are compounding, so it's like a savings account but with higher daily returns
>Deflationary tax decreasing the supply meant to PARTIALLY discourage sellers
>Price fluctuating between $4.5 - $8 in the past week, meaning this range is safe to buy and wait for the daily interest given that after a few days of patience you'll break even at worst or see profit at best
>Team and community both are engaged and united in order to make this work.

Price will probably crab between $7 and $9 in the coming days. Liquidity staking will soon™ be available so the wild price swings will stop , yadda yadda. Fuck this shit

>> No.22996290

>>22995650
Kill yourself faggot sage

>> No.22996501

Don't lose faith OP. Not every project is perfect

>> No.22997130
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22997130

Oh it's a shame I expected more ecchi dumping

>> No.22998292

You know the token is a gem when threads get ignored. Saged

>> No.22998308

oops

>> No.22998917

>>22995650
>>22996022
>>22996136
what games are these from?

>> No.22998937

>>22995650
>check_em
weak anon. check these 33 out

>> No.22999877
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22999877

hnnggggg

>> No.22999954
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22999954

>>22998292
when that happens the token is A tier and still getting accumulated, absolute shit spam, or a boring thread. in other words the thread is at either far end of the bell curve