Alternatively known as the /e/ crossboarder paradise for shitcoin gamblers. Get comfy, buy or don't, at least I tried to tell you if it succeeds and you avoided a dangerous bullet if it fails. Last thread got a little more active posters than usual, which is nice. Perhaps I won't be alone bumping this today.
Advantages and reasons to buy >xETH ONLY HAS POSITIVE REBASES increasing your holdings by 7-10% in value each day, if its price is above 0.01 ETH >NO NEGATIVE REBASES >Token is deflationary everytime someone sells, decreasing the supply and is an attempt to prevent too big of a sell pressure >Price is always sitting between $4.5 - $8, so no matter when you buy in this price range you'll be in profit given 2 or 3 days worth of patience (see chart on CG) >Team is open and seems legit, will burn half of their funds (52% wallet on etherscan) by Friday and reimbursed a retard who got his PC hacked
WHY YOU SHOULD THINK TWICE BEFORE BUYING : >There is NO real answer to the "What's the usecase of xETH?" question >ANONYMOUS TEAM >CODE HASN'T BEEN PROPERLY AUDITED >low liquidity so wild price swings, doesn't sit wiell with how the token is designed around organic growth and daily interest >Volume dies or people stop buying dips : WILL CRASH sooner or later since everyone will want to secure their rebase profits and sell first
It's been 11 days since I bought. I'm happy with how my portfolio is in the green now, but the fact remains : xETH is still risky. Nonetheless, the dev team burning half of their inflated funds by Friday should certainly pump the price a little while creating a short term hype. The issues tied to volatility will be fixed when LP-Staking is available, hopefully soon™ because these niggers delayed it when it was supposed to launch tomorrow.
I forgot to add it in the OP when I say I would last thread, but this link is a nice dashboard displaying all of the past rebases : xeth-rebase-dashboard.herokuapp.com
So what is this exactly? Explain to it to me like I’m retarded
Daniel Rodriguez
To explain how it works and make it very simple to understand where the interest lies, I'll try to explain with an example understandable for brainlets. The percentages and numbers in this post are only for illustration purposes.
Let's say you bite the bullet and buy 1 ETH worth of xETH at $6. You're happy with your purchase, you leave it be. You check back 23 hours later, you see that some nigger sold and now price the is sitting at $5.40 You just lost 10%. But ten minutes after, you receive 10% bonus tokens of your stack thus nullifying the loss, along with every other holder. That's the positive rebase increasing everhone' stack and share of the marketcap. As long as the price remains above $3.5 or so, this phenomenon occurs.
So imagine if the price remained at $6, you'd be 10% up. So imagine if the price mooned overnight to $12, you'd be up 110%.
>Wait but if everyone gets free money daily that means everyone will sell, right? How is this sustainable? That's why there are deflationary mechanics built into xETH, to at least partially reduce the will to sell as I've explained. I say partially, because some people might already be satisfied with how their stack has grown and are selling their daily excess.
Besides, the 10% (once again an example) you receive daily are compounding. So the longer you hold, it'll go like this : Day 1 : 60 eth Day 2 : 66 xeth Day 3 : 72 xeth Day 4 : 79,2 xeth Day 5 : 86,4 xeth Day 6 : 94,8 xeth Day 7 : 104,2 xeth
Human greed and the token rewarding holding for long periods of time can explain how this has managed to stay alive for 2 weeks. And looking at the weekly chart, you can see how the idea is attractive since the price always goes back up from $4 - meaning there are people who want to be part of this too.
I hope my explanation was satisfactory, because I realize myself that I might have poorly written my post.
But in very short terms : >you buy >you hold >if price of xETH > 0.01 ETH = your stack increases by 7-10% >you hope that the bonus tokens received help you break even if xETH price decreased in the meantime or you rejoice as the price stays stable or even pumps as your wallet grows in size everyday
