I'm making a separate thread because I don't wanna be called a "fudder" while they're euphoric about their price rising. I don't hold any bags in any case.
I'm mostly asking onlookers just like myself what they think of Statera. It had every single sign of being a scummy project, starting with the V1, V2 and V3 debacle. Low liquidity, low volume trapping the early investors into shilling it because otherwise they'd stand to lose when selling. The massive pump and dump of the last few days, which should have killed the coin. But as you can see, it's still alive. I was pretty sure that by today, it would have been revealed as a quick exit scam. Is the project legit, or not? Bagholders can participate, but I'd prefer to have the point of view of people who didn't throw money in it.
It’s crypto. That’s literally the only answer you need.
Joshua Ortiz
The low liquidity and volume was an issue with stats not displaying properly. It was traded on uniswap v1 for the first week and did not have an info page to reflect data. The only data pulled on V2 was from people buying, because you could not sell until yesterday (or 2 days ago, when they finally fixed their shit).
As an early one in STA v1 I've gone through all the process, and like most, in the swap from v1 to v3, our pool worth was less than what Uniswap displayed. - I had 250k of STA v1, worth about 4 ETH, and my pool share was about 300$ at launch. Adding on to that, with slippage and all, it would be closer to 350$ in value so yeah, bit of a loss. Bought more V3 the moment it was released.
The problem is, many people treated this as a pump and dump and half of this board fomo'd in after an incredible climb from 2c to 15c in a single day, it was not sustainable and not expected even from us. When v3 launched we were going to be happy with 1c end of week.
The project is legit, there's been some bumps in the road, poor documentation, and all the 'frontend stuff' is being worked on as of right now - Keep in mind STA v1 was launched a month before a thread popped up here and it blew uniswap up.
If you wanna call me a bagholder feel free to, I took my initial investment out and I'm riding this to the moon or to 0. This is still crypto, so it depends on how much adoption and traction STA gets outside of Zig Forums, but the project is legit, and devs cannot dump on you. It's out of their control now and in the hands of people who want to pool in.
Owen Rivera
it's not that it's an exit scam, it's that it's a pretty useless token. sure, it work as if it were an index fund, but what are the contents of the fund? wrapped eth, wrapped btc, link, a token no one cares about, and a worthless index token. considering most investment anons here probably hold 3/4 of those already, it isn't much diversification. so, is it the autobalancer that makes it valuble? because the autobalancer wasn't even made by STA. anyone could use an autobalancer like that. so it isn't the token, it isn't the pool, and it isn't the autobalancer... what exactly makes this coin valuable? possibly some first mover advantage into automated index funds in crypto? maybe. but that doesn't mean shit if people don't feel like pooling. the deflationary element is actually a meme, but it slows down swing trading which is nice, but it also means you can't put it on any off chain (read, big) exchanges. it's not a scam as much as it is... mediocre? certainly not worth an 8 figure valuation lmao
This, especially the last point. To any budding devs out there, rip off Stateras entire setup but just remove the burn function. Shill like crazy how Sta will never get on binance, Kucoin, idex, etc, don't hoard 50% of the supply like a Jew, find some good liquidity for the pool, and we can all make it. First mover advantage only works if the project is good, but Sta is flawed. It's a good idea, but it's Myspace, so some smart anons with a budget, make us a Facebook. Just don't be greedy
Logan Torres
Crypto in general is a ponzi scheme. What does it matter if it’s a scam if it’s profitable? Buy a small bag and make some money.
Brayden Bell
That was a nice, convincing response. If I was only 3 years younger, I'd have FOMO'd in after reading your post. Thanks for your answer, user. I suppose that Statera is one of those cases where the idea in concept is stellar, but the implementation could be a little better. However, the first mover advantage it has now will probably hold more significance in the future, even if better alternatives show up. I think that Bitcoin has now BCH to serve as an example of this.
Nicholas Ross
Tell me you reddit faggot. what does HEX do? Did it invent staking or lock ups? Go check its valuation. Now go and fucking buy Nano you stupid fag.
Aiden Green
this, and maybe even change up what the funds are in. is there a way to only use wrapped funds? is there wrapped XMR or wrapped NEO or something to use? Chainlink is pretty much the only ERC-20 I would want in the portfolio
Noah Stewart
> a token no one cares about SNX is the top 2 token on defipulse defipulse.com/
The value is STA is derived from the pool which consists of BTC / ETH / LINK / SNX. If you are bullish on those coins, then you are bullish on STA because when they pump the balancer will automatically shave off some profits to buy some STA. STA has a 1% burn for every transaction, and since it's constantly being traded by the balancer the burn rate is quite high. It has first mover advantage because copying the idea isn't enough, you need good liquidity to make it worthwhile and the pool happens to have ~210K worth right now. The more liquidity the pool has, the more STA will benefit from pumps in the other coins and the more "Thanos" will be able to counter dumps. Exit scams are impossible since all the coins have been distributed, everything is automated and trustless, its in the hands of the community.
TL;DR; Price is based on supply and demand. Pool balancer creates constant demand for STA (assuming BTC / ETH / LINK / SNX are pumping) while the supply decreases for each transaction. Increasing demanding + decreasing supply = profit
Hunter Davis
Hex is a fucking scam user, do you even know who Richard Heart is? he had been talking about starting this scam coin for years. in crypto, you will see many scams make many people rich, that doesn't change what you are buying
Ryan Martin
also I bought Nano when it was RaiBlocks kid, grow up
Liam Brown
It's the way the deflationary properties interact with the constant re-balancing happening. It has value because it is tightly coupled with the other 4 coins and so if they go up it makes STA appreciate simply because you have a "big" entity buying it. Add the deflationary properties to the equation and it makes it have a slight upwards pressure on its price.
So yes it is very much the token the pool and the autobalancer, combined that enable this. And why STA specifically? Because it already has a big enough liquidity balancer, before and bigger than any other similar project.
So that's part of what makes it have value, the other part is it is a financial instrument, just like any other coin or stock really. People only buy stocks because they believe it's going to go up. Same shit with crypto. Except STA fully embraces this human greed and speculation by trying to be an index fund. A decentralized, trustless index fund with a slight tendency to go up (deflation of STA).
Plus it's not necessarily true that it can't be listed on centralized exchanges. Sure the exchange won't have the burning properties, but then whatever tokens are on the exchange will get burned once they change addresses. And they will eventually change because the exchange will either put them in a cold wallet or user will withdraw and deposit.
Nicholas Hernandez
>So yes it is very much the token the pool and the autobalancer, combined that enable this. And why STA specifically? Because it already has a big enough liquidity balancer, before and bigger than any other similar project. so any autobalanced project with a better diversified fund and similar to or more than 200k in funds is all it takes? one rich nerd could crank that out in a weekend lol
Evan Kelly
Please do then, I'll invest
Jackson Howard
>one rich nerd could crank that out in a weekend lol People have been spitballing copycats and throwing shit at the wall trying to displace STA since it's inception. Nothing has stuck yet.
Benjamin Cox
Why would they need to? That token already exists.
Jayden Mitchell
quite honestly if I was a more competent solidity dev I would
Easton Carter
would have, could have, should have. really nigger?
Many of you speak here as if it was created by the devs purely to cash out. But when you check etherscan you see that there aren't huge holders with > 10%. If you look back at STAs infant history you see that the token was fairly distributed. You see that none of the bigger holders dumped as would be the case if a dev wanted to exit scam. You could argue that the devs made many small addresses that together add up to a majority, but if you were there for STA v3 you'd know all of it was cleanly distributed.
As for the various v1 v2 versions they explained it pretty well on their medium.
And now it's a finished product. No bullshit empty promises or roadmaps or whatever. It's already done, 100% completed, in the hands of the community, where no one has control over it. Just like defi should be.
Brayden Bailey
that part I could actually manage are you telling me Jason Parser is still out there at large?
Jack Rogers
>Many of you speak here as if it was created by the devs purely to cash out. >But when you check etherscan you see that there aren't huge holders with > 10%. If you look back at STAs infant history you see that the token was fairly distributed. You see that none of the bigger holders dumped as would be the case if a dev wanted to exit scam. >You could argue that the devs made many small addresses that together add up to a majority, but if you were there for STA v3 you'd know all of it was cleanly distributed. >As for the various v1 v2 versions they explained it pretty well on their medium. >And now it's a finished product. No bullshit empty promises or roadmaps or whatever. It's already done, 100% completed, in the hands of the community, where no one has control over it. Just like defi should be.
>Shill like crazy how Sta will never get on binance, Kucoin, idex, etc, don't hoard 50% of the supply like a Jew, find some good liquidity for the pool, and we can all make it The only thing that will happen out of that is the shilling part. This is already happening.
Michael Jenkins
reverse curry posting
Carson Cook
kek
William Bell
This
Julian Anderson
It's been one fucking week, you talk like Sta is generations old. Like user above mentioned, one rich nerd could replicate it, get it on a cex and sta is dead
Bentley Phillips
Also they'd just need to bring up the V1 and V2 debacle, and Sta is a scam in many peoples eyes
Ryder Barnes
Imagine being in crypto and still not understanding first mover advantage
