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Catching up on a number of tokens that got shilled to me over the last two weeks. Quick and dirty reviews only, so assessment might be off/too harsh/partial etc. Don't make buy/sell decisions based on this (but happy to get feedback).
DMG, DMM's governance token. ICO'd at somewhere below 50c, now at 1$40. It's a project offering interest-bearing assets based on real-world high yield credit (beat up cars mostly, I wish I were joking). Lots of alarm bells with this one...
Questionable claims about on-chain verifiability (it's just a bunch of badly photoshopped PDFs), active assets seem to be about 9M, but governance token has 54M mcap. Lots of "liquidity provision" activity on chain, status of ICO/IEO/security token offering is unclear.
Appears quickly whipped together by people with partial (and sometimes past) engagement in the project, some uniform shilling that appears paid. Fits current narrative to a certain extent, so will probably pump.
Skale (SKL), an Ethereum scaling solution. Already has broad ecosystem support, definitely an interesting project. They're starting a token sale today. Issues I see here is that the public allocation is tiny compared to the overall supply and that supply will go up very quickly.
Looks like a project that would be worth a deep dive for the so inclined, to find possible ways to participate beyond simply buying tokens. Also worth watching how the token will behave once it's liquid. Sits squarely inside all the right narratives.
Chromia (CHR), a relatable relational blockchain based out of Sweden. I want a small bag of this because it's a project full of fresh ideas. 7x from bottom, but still not really pumped. Hate myself for having researched, but not bought it back when it was really low.
Orchid (OXT), a crypto based VPN. I like VPNs and privacy tech in general (and lost a lot of money on them). Token kinda woke up with a 4x pump yesterday. Will be interesting to see where it goes next. Seems to be run by rabbits, which is weird.
district0x (DNT). If ANT was able to wake up, DNT will probably too. It will wake up without me though. Too much blockchainy futuristic inception on this one for my taste.
Another left for dead one: LOOM. Whenever I look at this project, it pivoted, and whenever it pivoted, it pumped. I'll stay out, probably to regret it later.
Lamden (TAU): if I had one TAU for whenever I expected mainnet on this one, I'd be retired by now. Maybe this time is it. Like taking home a bit of sand from the ocean (which is illegal by now), I have to have a souvenir bag of this one to always remember the good times.
AMPL: who remembers AMPL? I want some at 60c, 100M mcap, as it's the most pristine ponzi of this season. Will sell it a few minutes before Brian Armstrong dumps his bag on the Coinbase normies. That's the plan at least.
Tellor (TRB), it's Link that you could buy at 5M mcap only two months ago. You can also buy it now that it went 10x and stunt on me when I hate myself even more for not buying after it went 100x. Just don't look too closely at the fundamentals, will ya?
$GEAR: some kind of DeFi aggregator. Claims to have been here since 2017, but all the available channels started in July 2020. So I guess the dev was born in 2017. The Uniswap flipping crew will have an absolute field day with this one.
$KLP: PoW side project of one of the Polkadot devs. KLP, VEO, NYZO & Co. form a virtuous circle on Qtrade. It is a sacred exercise to buy into at least one 3 digit pump on there. Better make your contribution sooner than later.
KMD, DCR: people always believe that this kind of coin never comes back. Then, inevitably, they do. Time to start rolling up those bottom buying sleeves.
Reeee, that was only like two day's worth of shilling on my feed. I'll never be able to catch up.
$NXM (Nexus Mutual): Ethereum based insurance protocol. Direly needed, and a very solid project. I yoloed some for a 2x earlier, but want to study the unique token economics a bit better before maybe buying a bit more seriously.
$XAMP & $TOB This dev has an edgy style. Old timey cyberpunk shitcoin vibes on a modern platform. Go follow him and have fun playing with the stuff he builds. I have no time for that, unfortunately.
$STAKE. A stablecoin project with a twist. @personalshiva has been desperately shilling this one for months. Now he should be up way, way more than 10x. Well deserved. I'm not part of the in-group, unfortunately.
Ultra ($UOS), a gaming distribution platform. @Chewbbakah made me aware of this one. I've been burnt too often by this idea in the past, but I'm still convinced that one day, one of those is going to replace crufty old Steam. Will watch for actual success of the platform.
$DIA An oracle-like data service. Looks like this could be useful, and has the current narratives on its side. Actual platform description and use of token feel a bit made up for fundraising purposes though. Would want to see more success before I believe the "next LINK" story.
$MTA. This stablecoin/lending/swapping project had a bit of a rough start. It has a serious air and is worth a closer look though, will spend more time on this one later. PA is one of many examples of how being early in a new token can be boon or bane.
TRND: some kind of market magic thingy based on Ethereum. I'll very gladly leave this one to the Uniswap degens. One of the many recent projects that give me 2016 Bitcointalk dirt digging vibes - but muh DeFi (he cried in poor)!
DFOhub ($BUIDL). This project makes a number of super cool promises around DAO innovation on Ethereum. Marketing straight outta 4chan. I'll be watching whether anything real comes from this.
Didn't lose all your money on $TUBE back in the days? Fine, now you can lose the rest on $REL. I do sometimes dream of a truly unstoppable media app, and I know that these tokens sometimes pump, but I also know that ultimately, the idea won't work.
The explanation of why $KTON exists and what use it has is so hilariously convoluted that I had to immediately buy some when I first discovered it. Also muh Polkadot, DeFi, multichain, you name it.
Sometimes, time truly is money in crypto. Instead of spending time trying to understand something, just buy it, and after some time, you'll understand. https://medium.com/@DarwiniaNetwork/darwinia-commitment-token-kton-861e2df1b4cb
Probably won't be able to do any more today. Got through about one week's worth of CT shilling.
So, the one named after a god with a hammer. I will unironically block you if you tag the name below because I don't want to get anonsplained again. Grossly simplified: an universalized cross-chain Uniswap built on Tendermint.
IDK why this one leaves me so conflicted. It has all the right promises, a solid architecture, team is progressing fast, it's even already audited. But then it launches on Binance chain of all chains, has a pseudo-anon team but obvious VC (and potentially Binance?) involvement.
There's an enormous amount of coordinated shilling and price talk by the team, claims of eating all the other chains (even backed by an "audit", or at least by screenshots taken from an audit). The coordinated corporate edginess reminds me a bit of XRP back in the days.
Luckily, there's a supply shock event incoming in the next months. So to finally reach a decision on this one, I'll check it out again after that happened. This will tell us a thing or two about the convictions of the true in-group.
Important to mention the other project with a god mascot here. I am (was?) a huge fan of this one and made a note to finally check out whether their recent pivot to DeFi is just an attention grab or something bearing true promise. The potential is there.
$RARI: NFT marketplace coin. There are other, more established NFT marketplaces already. While I like the theme, I'm always wary of tokens with a short price- and project history. Current mcap is low, and there are many ways to "mine". So that could be a way for some.
BAL, CRV, YFI, COMP, ...: a basket of those governance tokens will eventually become a legit bet on a continuation of the Ethereum DeFi hype. Studying their individual merits (and emission!) is beyond the scope of this quick and dirty review thread.
Based on past experience, I have a pretty simple minded approach to looking at market buys for those: if the people "mining" them make 100 or even 1000% yearly return, they're probably not yet a good buy. Don't buy some whale's 10x.
Handshake ($HNS), a DNS replacement project with Bitcoin roots. We'll need one of those to work eventually. Could be HNS, or one of the others. Market buying the token is a bet against very high inflation. Here, again, I'd suggest to find other ways to get involved.
Acala (ACA): this is Kava on Polkadot (while Kava is Maker on Cosmos). I definitely want some of those at a fair valuation because it sits right inside my bet on multichain and DeFi continuing to be hype for some time.
Important to mention $DOT here, the token is supposed to become liquid today (I believe). Be very aware of the fact that it will be "redominated" roughly on August 21st, meaning the supply will increase 100x. If you don't pay very close attention, ...
... and the exchange doesn't protect you, this can make you end up with a 99% loss on those orders you thought were cleverly placed. I sure hope that the trend of "redenominating" won't become a bigger thing this season, it's gross.
$VIDT: Factom 2.0, data certification on chain. This was one of the more obvious FA 15x you could make this season. Not a parabola that I'd buy, but a serious project with some fledgeling use.
Swipe ($SXP): this season's Metal ($MTL). I hope this makes my standpoint clear. Props to the people who create generational wealth for themselves with such simple recipes.
$VRA (Verasity): an E-Sports token, nice FA find by @cointradernik. Not really crypto per se, lots of failed "crypto" gaming projects in the past, but a kind of token that I'd see gaining exposure and pump in a continued bull, especially off this low market cap.
Centrifuge ($RAD): bridging real-world assets to the blockchain, based on Substrate. Essentially a more legit version of DMM. I like this project and have been following it for a while. Haven't gotten a hold of any RADs for now though. Another earn instead of buy distribution!
Flow ( https://www.onflow.org/ ), a better Ethereum made by the Cryptokitties devs. Need I say more? Token not available yet, but a project worth following. There's a Uniswap scam with the ticker $FLOW. That's not the same, but could still make some people money.
Speaking of Uniswap scams, $CREAM is another one of those, quickly whipped together in a month, and the sheep already fomo in by the masses. I got this behavior back in 2016, but now that there are so may projects with actually interesting fundamentals? Not really.
$HNT (Helium). Skycoin 2.0. I so wish that this idea would actually work. At least it pumps now. Cheers to the eternal believers.
Etherisc ($DIP). Insurance project based on Ethereum. Like SMARC (for example), or even Polybius, I'm happy to see actual industry players trying to disrupt the old ways with blockchain tech. At the same time...
... these projects do have the risk of becoming "old men staring at money", of being disrupted by the "build it and they'll come" approach, or of taking much, much longer than expected (speaking of decades). Used to buy a lot of these in the past. Money I'll never see again.
$OM (Mantra DAO). Yesterday's shill of the day. This has been whipped together very quickly, and there's preciously little substance to be seen. Could turn into something eventually, but FA doesn't give me an urge to FOMO.
$BASED: similar Uniswap flip to the XAMPL family of projects. I'm not playing those for the above reasons, but feel free to have fun with them if this is your kind of game.
$BOT (Bounce), another one of these quickly whipped together projects. At least it has some uniqueness to its promise and is worth a short look.
Sora ($XOR). General purpose "blockchain economy" project based on Hyperledger. Lots of bleary-eyed hand-wavyness on the website. Project sounds like it's been put together by somebody who just discovered Blockchain tech and believes it will change the world. Welcome to the club!
Certik ($CTK). I like Certik, but didn't know they're building a Cosmos-based chain. Giving this the benefit of the doubt. GitHub has 40 commits or so, token already being shilled. Could be "founder's last resort", or could be the start of something interesting.
This all was just catching up on yesterday's shills. Could you guys stop shilling random crap for a sec and just buy Solana? Don't forget to sell before the year ends. Thanks.
$OCEAN: Oh how everybody made fun of the IEO buyers and bottom hodlers. Who's laughing now? Looks like a legit project, but too pumped to even research further atm.
$DAG: I know this project very well for, erm, reasons. They're notoriously behind on their timeline, but somehow they still badger on. Always kept a small community going, and have occasional flare-ups of bigger outside interest.
OK, another round. Will I eventually be able to weed through your shitcoin shills faster than you can make them up?
$FRY was THE food themed Uniswap shill of this weekend. Project has a bit more history than your typical Uniswap flip, and a couple of white guys trying to save Zimbabwe, fancy drinks in hand, has a heartwarmingly, gut-wrenchingly 80s activist feel. Still a hard pass for me.
$XFT, oh my, we might be entering a new era here: an Uniswap flip with an actual white paper and a purpose! It's essentially XHV on Ethereum, or Terra with built-in anonymity. ...
... Completely unproven until now (it's just a bunch of anons and a PDF), but I'll be following this project as I still like the radically cyberpunk idea of digital offshoring, especially when combined with a stablecoin solution.
Lots of $CRO shilling this WE, some of it paid (mostly disclosed). This is a good product, but why should the coin be valued more than 3B (10B full supply)? Only reason I can see is that 5 out of the 8 projects valued higher are even more overvalued. Go get them, my little $CRO!
$DXD is the investment (vs. reputation) token for a DAO that originated from the Gnosis project, currently being sold on a bonding curve. It's a project worth following (as any serious DAO experiment), but I personally don't see why it should already be valued higher than $GNO.
Oh, btw, why did Dokia Capital feel the need to explicitly distance themselves from $ERD? I remember seeing a lot of ERD/Dokia shills back in 2019. Not a rustle in the FA forrest over this tweet, strange. https://twitter.com/DokiaCapital/status/1296919632008433667?s=20
$CKB (Nervos) and $KDA (Kadena) are two of the newer "from scratch" chains that are worth a close look. I'd want more price history or a very strong investment hypothesis before buying. Aping into those would probably still be better than aping into DOT though, haha.
$POKT ( http://pokt.network ). The crudest and still somewhat accurate way to describe this is: a decentralized dApp host. We need such services if we want to remain serious about decentralization. Worth a look if you are a compulsive and/or professional node runner.
$1INCH. This is 1inch (the DEX aggregator's) incentive token, currently rolling out, e.g. to LPs on Mooniswap (their Uniswap-like AMM). Not the most loved team in the ETH universe, but they do ship. Avoid any remarks about "being long 1inch". https://medium.com/@1inch.exchange/1inch-token-and-liquidity-mining-announcement-5a75bad40ded
$GEN (DAOStack), a bit like Aragon ($ANT). I still don't fully understand it, but then again, I never fully understood Aragon. I do like DAOs though, so it's probably a good thing. I think Maestro likes it, and that's a good thing too.
$DEC (Decentr). Another attempt to let people monetize their own data, another project that merits a closer look. Main product release is still a long time away (2021ish).
http://unn.finance , state channels on Ethereum (another approach to scaling that didn't do Bitcon a lot of good), probably has a token hidden somewhere on Uniswap, could be interesting to look at later, but not enough to be seen yet for my taste.
$ALEPH: this has been shilled at every street corner about a month ago. Calmed down a bit since then. It's an interesting interchain service project with $NULS (peperidge farm remembers) roots.
$CNS (Centric), a Tron based "stable" token that can be exchanged to $CNR, a token which only ever increases in value. I'll let you do the math.
Also, it's listed on Bittrex Global. Lawyers be like:
Also, it's listed on Bittrex Global. Lawyers be like:
$SWINGBY, another cross-chain swapping protocol (Thorchain comes to mind). Development speed hasn't exactly thrown me off the rocker. Will look at it if I can find time.
Here's one for the from-scratch chain homies: https://hathor.network/ . A blockchain/DAG combo architecture written in Python.
$JRT, Jarvis Network. I remember looking at this one earlier, but not tweeting about it (?). A combined synthetics and margin protocol. My first impulse would be to say that they have a LOT of catching up to do and that I don't see enough development for this (yet).
$SUTER (suterusu), a zkSNARK based cross-chain protocol with Polkadot roots, worth a closer look because muh in the centre of the narrative. No giggling over the name allowed.
I'm definitely very happy how I traded $FTM. Bought some at $6M mcap, sold at $7M because muh consolidating bags muh forgot to rebuy. Now it's at $68M, ffs, fml.
$STX, $PCX: something something be comfortable seeing others make money while you wait for your own hypothesis to play out.
Defis ($XGM), a microcap project with more DeFi promises on their website than commits on GitHub. It's mineable, so somebody might eventually shill it and then it will pump. Maybemaybemaybe.
Anybody remember the Dfinity ($DFN) airdrop? Yeah, me neither.
$ARPA: this is another privacy/MPC layer 2/interchain project (REN, ENG) that I missed so far. I'm already so deep into that narrative that I can hardly breathe, so I might leave this one out for now. Looks interesting though.
Degens only: if you look at the Uniswap flips that were shilled roughly two weeks ago, you'll see that many of them consolidated a bit and are now getting ready for another leg. I can't handle making that kind of money, so I defo won't buy any Robonomics, or Sora, or shit.
It's also interesting that the food token evolution went from raw food (YAM, SHRIMP), to processed (PASTA), to cooking techniques (FRY) in only 2 weeks. I guess there's a message somewhere in there.
$CELR: this is one of the more interesting scaling solutions out there. Up 7xish, could probably still go for another leg as it draws from various narratives and chains.
Completely slept on $NEC, which I liquidity mined on Finex back in the days. They launched their StarkWare-based DEX in June and got a tiny amount of volume and value locked since then. Token is up more than 10x. Good example of a legit DeFi play for attentive people.
Another example: $SWTH, 50x, I saw a single tweet about it, but about 10'000 tweets about food on Uniswap.
$GEEQ: this sounds legit on the surface, but there's some stuff I'd be watching out for: very unfortunate "manager" to "worker" ratio, old project, but not a lot to show, token seems to be a re-raise, only tiny %age is trading. I'd personally FA hard before buying.
$DOS: another oracle network, appears a bit cobbled-together from existing projects. Fully taps into the LINK narrative, with 5 spices added: PA is WILD.
$UPX (uPlexa): old school tinycap project, somethingsomething IoT mining. Today's kids don't like those any more, which makes me a bit nostalgic at times.
I like this idea, $RAI, a "gentlecoin" (almost-stable coin). I can already hear the traders go: "hold my beer while I show you how stable it really is". https://www.reflexer.finance/
Wanted to write that people probably sleep on $UMA, another synthetic assets protocol. But the market cap speaks another language, ouch. https://umaproject.org/
Speaking of food, here's one building on Cosmos: https://www.regen.network/ . It's private-investable, if you are into this. I personally think that this kind of blockchain-based (r)evolution is still 10 years out, but love to see people actually try to do good with my favorite tech.
Managed to clear the August backlog with only minor damage to my mental health and the well-being of those around me. Now, July...
