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Hey everyone, I took a few days off because I was thinking if I should stay in this space or not.
I joined crypto in 2021 at the peak of the bull. That was the first time I lost money, and it was on $ADA. I bought at $2 and rode it all the way to 3$ and down to $1 and sold at a loss. I always knew investing is risky, but I had never invested before, so this was my first real lesson.
@IOHK_Charles is an extremely smart person, but it’s not only that — the way he talks and explains things really makes you believe. I trusted that once Cardano gets smart contracts it would go parabolic. Oh boy… little did I know about smart contracts and crypto back then. It turned out that smart contracts on @Cardano @Cardano_CF are written in a special language, Plutus, and it’s extremely hard to develop with.
Then I started exploring crypto in general, but learning crypto feels like falling off a cliff with no bottom, because every day thousands of projects pop up. Because I was “in love” with Cardano, I stumbled upon a startup project called Paribus and its native token $PBX.
The first time I bought PBX was around $0.016 and I held around 700k tokens. The token was just released and the vision was great — to become a next-gen borrowing & lending protocol on Cardano. There is so much to say about Paribus, but the bottom line is: I believed and joined that community. I became an official ambassador and represented them on my X channel.
The core team — Deniz (CEO), Wilson (COO), and Simon (CTO) — are great guys, smart and friendly. They decided that with their initial funds (around $1M), they couldn’t continue building on Cardano because dev costs were too high. So they made the decision to build on Ethereum, where devs were much cheaper, and later move to Cardano once the virtual machine was ready via @Milkomeda_com . We all know how Milkomeda ended :(
They created Paribus V1 (MVP) on Ethereum L2 — @arbitrum — because gas fees on Ethereum in 2021/22/23 were enormous. That was the first step, then governance, then expanding the protocol further. Arbitrum NEVER supported Paribus. Sad but true, even though it was FIRST B&L protocol on Arbitrum to support LPs as collateral..
The thing is, they coded, they released, and they kept fighting — but the narrative was wrong. People were chasing meme coins and easy money. In and out. No one cared about projects with real value.
$TRUMP went from $85 to $1. $HAWK rugged. $MELANIA rugged. Even President Javier rugged with his coin $LIBRA. The space became a complete shitshow — and the Paribus team continued building.
$MELD disappeared even though they started the same time as Paribus. Ardana ( $ARDANA ) raised around $10M on Cardano and disappeared as well. Teams ran out of funds and quit. Paribus survived.
Yes, I believed in Paribus — and only because they delivered: 6 audits, NFTs as collateral, LPs as collateral, live on 3 chains, many partnerships, and more. But it wasn’t recognized because the narrative shifted to memes and easy money.
Some people started blaming me for their decision to invest in PBX. I want to say this clearly: I never told anyone to invest based on what I say. I always said invest only what you are prepared to lose. Startup investing is extremely risky. Yes, we all lost on PBX — that’s the truth.
If I could go back in time, I would only invest in $BTC and nothing else. Everything else is gambling. The only real “investment” in crypto is Bitcoin. There are many great projects with amazing visions, but whether they succeed or not — only time will tell.
After 6 years of supporting Paribus and building a community around it, I’m asking myself: what now?
I lost money. I gained around 1.5k followers and I’m thankful. I built a studio. But should I continue… or just quit this space completely? I don't know.. Need to process all and see where my head is. I will advise everyone - DO NOT invest based on crypto influencers or what they say. 99% of them are scammers. Protect your capital. Stay safe.
All I know is that I’m sorry we never saw PBX go where it deserved — among the top 100 cryptocurrencies.
According to the team, Paribus will be here in this crypto space indefinitely as a project. They will continue running the code on all 3 chains, but the volume and future of $PBX is up to the community.
Once again, thank you for supporting me over the years, and I’m sorry if you ever made any investment based on my posts — I truly am. I always said that I’m not a financial advisor and that you should do your own research. 🤝
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