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Some updates from the $WSB @WSBDapp cryptosphere - in many many parts! I was chatting to some of the $WSB team tonight in the Telegram voice chat and in 1 on 1 messages - they are extremely active, with Jaime and many other senior folks in there at least once a day.
Highly unusual to get such access to the senior guys in a project like this. Some nuggets from my discussions. They can only say certain things due to NDAs...
- An automated market-maker went live on 28 April. It won't have too much of a noticeable impact, but it will tighten spreads etc. in Pancakeswap.
- @WSBDapp have agreed a listing with a CEX for $WSB. They are hoping they will be able to say more about it within a day or two.
The submissions for the @coingecko and @CoinMarketCap index additions were made before the IDO. Under normal timelines for these submissions, the $WSB token would have been added to both indices by now. But, we are currently in the midst of a memecoin storm, so.....
@CoinMarketCap and @coingecko are snowed under, which is slowing things down. The team is applying as much polite pressure as they can, but @CoinMarketCap & @coingecko treat all coins equally and get them added in order of submission receipt date.
There are some recently launched coins using some form of the WallStreetBets name. There are a few issues with these coins being in existence, as follows...
Several of these coins are already on @coingecko & @CoinMarketCap so if $WSB was to start marketing now, there would be a huge amount of confusion with the public, which could be difficult to recover from.
The @WSBDapp team is very well aware of how things could play out if they didn't launch the PR campaign correctly, so they are working very hard to get the "similar name coins" issues addressed before $WSB marketing starts.
Once @CoinMarketCap & @coingecko have been approved, this will help @WSBDapp make clear to the public what the official $WSB is vs. the "rip-offs". This is actually only really a short term issue because...
None of the similar named coins are currently listed on reputable exchanges and would not be able to list there due to IP infringements on @wallstreetbets. So once the network is big enough and $WSB is the only $WSB listed on CEXs, there should no longer be any confusion.
The $WSB price continues to slowly decline because 1) yield farmers selling their new tokens. With more tokens being issued as rewards, a price drop is an obvious outcome. BUT, it wasn't supposed to happen this way.
From what I have pieced together, @WSBDapp marketing was planned to coincide with the launch of $WSB farming, which would have more than offset any price decline, but as discussed above, @WSBDapp have had to delay marketing for reasons beyond their control (= memcoin flood!)
All of the @WSBDapp media promotions and interviews sound like they are still happening - just being held back from release for now. @wallstreetbets sounds like he has been VERY busy...
Price impact No.2: Due to unforeseeable marketing delay no marketing, all the weak hands (who have not done any research, are most likely newbies and are panicking and selling their tokens) are selling out - diamond hands are picking up some extremely cheap coins - v clear to see
The @WSBDapp team are looking at short term programs to alleviate the price drop - one potential idea is providing $Cake @PancakeSwap to all LP providers, in addition to the existing $WSB rewards. This would give token-holders another reason to HODL $WSB.
In conclusion: The above issues are the type of hiccups that can happen when you invest into a project in week 1 (remember how early we all are!!) The potential for huge $WSB upside is why we are in at this stage, but that comes with a correspondingly higher risk profile.
From discussions I have had and what I see and hear in https://t.me/wallstreetbets , the @WSBDapp team are all over this, and have a LOT of exciting announcements to come very very soon. HODL well, fellow $WSB astronauts.
HODL with Whaley Moon!!
HODL with Whaley Moon!!
