Every day until you like it, even if I bet that I'll see this thread at page 10 like all the others. The threads not being active should be an indicator that the usual TG trannies and other repulsive pajeet shills AREN'T AWARE of xEth yet. It's only $5M mcap. AMPL is $90M.
To make it short : xETH is a rebase token pegged to 0.01 ETH. If the price of xETH is above 0.01 ETH, all holders receive more tokens in their wallet, ending up owning a larger part of the mcap and making a profit as long as the price doesn't decrease too much below their entry point. If the price of xETH is below 0.01 ETH, nothing happens. You don't have less tokens, there's no negative rebase.
>How is this sustainable? Keep in mind that the idea is relatively novel, but it's simple. xEth has the particularity of being deflationary, meaning it heavily penalizes people not willing to hold with a "tax". 2.5% of the selling transaction gets burned, forcing you to put at least 5.24% slippage on Uniswap before selling, and in return it makes holders own a larger part of the mcap little by little.
>So far so good right? It's been 10 days since I bought. I now have 339 tokens compared to ~191, and the price pumped since. I'm in profit.
Risks and red flags : >THE TOKEN IS USELESS ON ITS OWN OTHER THAN "muh free daily compounding interest" >Every rebase you must pray for other wallets to be greedy enough not to sell >Liquidity is still low, price is volatile as a result >Volume and buy pressure are needed to keep the price above 0.01 ETH as the selling tax alone isn't enough of a deterrent especially for BIG wallets
Technically, LP staking coming on Friday should be able to solve the volatility and volume problems for a time. Besides, by looking at the charts on CG, you can easily verify that every dip going below $6 gets bought up with the local top being $8. It's slowly but surely crabbing upwards, and holders are steadily increasing along with the volume.
You've been made aware of the pros and cons. The choice remains in your hands now. But don't go around saying it became successful out of nowhere when I've been posting about it for 3 days now.
Coordinated. Pump. And. Dump. you've been warned user
Luis Phillips
Please tell me how so. At least if you had any basis behind your claims. In the past week I personally have seen nothing of the sort, even though the price dipped quite nicely from $7 to $5 due to the low liquidity, even going as low as $4.3 if I remember correctly. It's not the first time it happened, I'm pretty sure 4 or 5 days ago the price behaved similarly.
pump it to 7 and then dump to 5? Although this may generate some profit, I highly doubt this is worth it.
Benjamin Gutierrez
It is not without risks as I've been stressing out. I've been enjoying free money for 10 days doing nothing, which is nice. But still, unless marketers unfairly advertise it as something else other than an experimental take on the rebase model, people will look at it for what it is : if people don't buy to keep the ship afloat, there won't be daily rebases.
I hate telegram but you've gotta thank how united the community is, most wanting for xETH to slowly grow overtime instead of mooning overnight. The idea of daily compounding interest is way too seducing to ruin, at least when it's still early. Once LP-Staking will be implemented , hopefully the price along with the volume and buy pressure will rise up accordingly.
>meaning it heavily penalizes people not willing to hold with a "tax". 2.5% of the selling transaction gets burned I'll shamefully self bump to fix that obivious mistake. It doesn't make sense for the slippage on uniswap to be at least 5% if the tax wasn't equivalent, forgive my retardation.
xeth marketing is still weak af, which is a shame... I don't mind if price stays around 5, we just need more liquidity
Joshua Peterson
Honestly, I'm actually happy with the current lack of marketing. Paid shills get spotted instantly and are unironically repulsive, same for moonboys who come here thinking Zig Forums is like an anonymous TG channel for them to spew their insipid bullshit and false hype messages in broken English. I'm not one for a sudden moon or pump since it'll inevitably result in a massive dump afterwards. I sadly wasn't there when the token got listed on Uniswap, but looking at the charts it must have been deadly for those who bought the top. >I don't mind if price stays around 5, we just need more liquidity This I can fully agree with. I'll personally take part in the LP staking pools myself, so that I can have guaranteed rewards even taking IL into account.
Joseph Gomez
yes, it was deadly indeed
>t. bought for 16
Isaiah Ortiz
>open thread >save images >hide thread
Dylan Rodriguez
At least I can sleep happily knowing I made anons aware of Ane Naru Mono
The narrative shift towards xETH being a safe hedge in cryptocurrency is beginning to take form. I give it two weeks tops before the following pasta gets unironically posted/marketed in future xETH threads, on medium articles, and so on when this starts getting actual attention.
"As the cryptocurrency world breaches new transformational territory at the behest of DeFi, the digital asset field remains a dangerously correlated and wildly unpredictable mess. While honorable attempts have been made, the need for an attractive and reliable hedge against the market, that is not tied to traditional, external assets (such as fiat or metals), and actually provides consistent financial incentive those who simply hold it remains pressing. We aspired to create a token based on the elastic supply model, that A) is price-based upon a stronghold digital asset, and B) utilizes existing investor psychology and behavior to enforce its stability. This would be achieved by selectively rewarding holders and taxing sellers, instead of distributing all positive and negative elasticity effects evenly amongst the userbase. Ethereum is the heart of the modern DeFi Ecosystem. By using it as a base (at a base ratio of 1:100, ETH/xETH), and eliminating negative rebases via our sell-burn mechanism, we believe we have created such a token. As such, while the elastic mechanisms of the xETH supply are designed specifically to react to the price of ETH, the dynamic of distribution discourages a direct correlation to Ethereum and the broader market, and encourages stability in times of palpable fear or greed. We bring you something altogether different. We bring you: Xplosive Ethereum.
Carrot: Meet Stick The xEthereum ecosystem was specifically designed to reward holders while punishing sellers."
How much did they pay you? You don't smell like a pajeet, but I do smell either a dev and/or airdropped tokens. No way someone that has my best financial interests would take the time to write this much and continously for days on end without people replying to his threads. The token is literally useless as you said and yet you keep shilling for it. Why? What do you stand to gain by scamming Zig Forums, user?
Look at all the threads sharing the same format and posting pattern that suddenly appeared: warosu.org/biz/thread/22878415 No way someone would be so adamant on shilling for free unless they had something to gain. And I don't believe that a simple pump and dump is what OP is after. I don't know why but this all seems very fishy. Or maybe I'm just paranoid, it's not unusual to see anons shilling for a project even when they don't get replies here, like the VELO threads for example. But I don't know after getting burned by YFbeam I doubt everything I see now.
