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RE: Market Watch: Eat My Shorts!

in LeoFinance4 years ago (edited)

I'm finding the infinite greed quite tedious. And I'm not immune to the infinite greed either, which is even more frustrating! [...] That's what I was thinking: MORE MORE MORE MORE MOAR. Look where that mindset gets you.

Exactly what happened to me and probably tons of other people as well, according from what I read on Discord and HIVE. Which is ironic because most of us should know by now that investing into the farm token is usually a bad idea in the beginning of a DeFi platform with high initial inflation. But PolyCub sounded so amazing, especially after seeing the result of the first 24h in xPolycub, that we all aped into it. I paid $4.5 per Polycub and rest assured, I bought a lot. I wonder how long it will take now to recover just the loss.

What is even twice as annoying, is that 100% of all our gains we get on Polycub now from external liquidity are just meant to break even again. That potentially creates a huge selling pressure because to cover our losses, many will cash out for weeks to come. I certainly have enough Polycub for now and I will be extremely careful before buying more. Since you wrote this, we dropped from $0.89 to $0.72 and I don't see much reason why this downwards spiral should end during the first month of high inflation. Sure, it might pump if we get some awareness but what will happen then? Everyone and their mother will sell who bought like me at ridiculous prices, to at least cover some of their losses.

I've already told Khal this in DMs, but xpolycub should of had ZERO yield during launch. Zero. Or maybe just the 50% penalty from the other farms.

Interesting point. Didn't really support the platform to have a double incentivized single stake without any delay, penalty or bonding on it. It just kept liquidity out of the Polycub pools to increase volatility, as you wrote. This should be reconsidered for the next offspring.

Long-term sustainability is awesome but if it comes at the cost of the early believers/investors in the platform, then there is room for improvement.

!1UP