Durairaj

I'm honestly a big fan of the @injective ecosystem. And I think what @Dojo_Swap have fundamentally built is excellent. But can someone explain to me why they don't get rid of #babyDOJO, $DAOJO and $SUSHI and instead concentrate on trying to bring $DOJO back to life as the value accrual token of the entire ecosystem? I'm completely at a loss as to why all these extra tokens are needed, and it pains me to see the "DojoSwap Ecosystem Recovery Fund" try to bring FOUR tokens back to life, instead of concentrating on one. What am I missing here?

Just a reflection of this post with the current market conditions. $BTC has fallen about 3% in the last week while $DOJO has fallen about 42% & $DAOJO about 38%. This was my point I was trying to make, using capital to accumulate your own ecosystem tokens acts as an accelerator in bear market conditions while it might act as an accelerator in bull market. Nearly 6m $ were put into the DAOJO holdings with own ecosystem tokens. Here is what I said. "But I don't believe a DeFi / DEX project should create a POL of their own tokens. It's like a death spiral. When one token price starts falling, your entire ecosystem starts falling. In my mind POL of your own ecosystem tokens is like building a great building on a pile of cards. Rather the team should start piling up $BTC, $ETH & probably stables into the DAO" If that 6m $ was in stables / btc / RWA tokens sitting in the $DAOJO pool today, in today's market condition, that could have been used to buy back $DOJO and stabilize the prices. I still feel that $DOJO would recover when the @injective ecosystem recovers. But this is just a precursor to what will happen when the full fledged bear market begins. Hopefully my below article from 2 months back makes more sense now.

JUST IN: 🇬🇧 Bank of England’s bank-to-bank payments system is down. #Bitcoin fixes this.

My serious concerns for the $DAOJO token Launch from @Dojo_Swap I am trying to write this very carefully with concern rather than creating FUD. I have been a big supporter of the whole $DOJO ecosystem & still hold a big position of every token in the ecosystem including $DOJO, $SUSHI, $babyDOJO. I have been in awe of the @Dojo_Swap team so far. Everything they have done so far has been exceptional for the @injective community. They have been the torch bearers of the whole cosmos blockchain in this cycle so far & would love for them to be more successful. Here are some big things they have done that I really love. - An elegant DEX with an excellent new design that is not a clone of uniswap like 90% of the other dev teams in most other blockchains. - Emission reduction & balanced value of the $DOJO token making it the primary token for Launchpads & also making it the base token for Liquidity Pairs. - Every token they have launched so far has been adopted as a new standard on @injective including the first CW404 in $SUSHI & reflection token in $babyDOJO All their Launchpads & Airdrops so far have been great & their partnerships have been excellent. I have huge respect for how much talent & thought process the @Dojo_Swap team have shown so far. I have written a ton of posts about each of those so far. Which is why I was very disappointed reading their medium article below about the $DAOJO governance token. I read it a few times so far. I wanted to change my mind & looked for something that would stop from thinking about it this way. Read the medium article first about $DAOJO - @dojoswap/%EF%B8%8F-launching-daojo-the-first-rebasing-investment-dao-on-cosmos-dd83ca0b5185" target="_blank" rel="nofollow noopener">medium.com/@dojoswap/%EF%… Primarily my concern is POL - Protocol Owned Liquidity $DAOJO aims to create a vehicle to purchase it's own tokens $DOJO, $SUSHI, $babyDOJO & lock it up in a POL - there by removing it from circulation & also create a supply shock. It will also buy & invest in other tokens. So why is this a concern? It's the history of POL - Protocol Owned Liquidity & every project that has ever attempted this so far. Read this article to get an understanding of the history of POL - thedefiant.io/olympus-under-… Basically POL was the brainchild of OlympusDAO heralded as DeFi 2.0 that solved the liquidity mining mercenary problem where mined tokens from Liquidity farms were being aggressively sold on a daily basis & POL would buy & lock up these tokens so that the price doesn't crash because of the daily selling. OlympusDAI introduced POL in 2021 & it did wonders to their $OHM token in the short run taking it up to 1400$+ , but also caused their own demise & eventually the token fell by 95% & crashed & has never recovered after that. $OHM is now 12$ from it's high of 1400$ - practically worthless. You can see the price chart here - coinstats.app/coins/olympus/ In the next few weeks & months , several other DEX clones tried to create their own version of an $OHM fork / $pOHM fork & created their own version of POL & every single project died a miserable death whoever attempted it. Several weeks later in 2022 came another glaring example of an exemplary failure. $MMF tried to do it with their own POL & called it the $METF - that probably eventually led to the demise of the $MMF ecosystem. What's interesting were the 2 launch articles. Please read them carefully to understand the similarities with $DAOJO. Article 1 - @MMFinance/8th-launchpad-details-what-is-the-mad-meerkat-etf-previously-mmdao-7b8b7e297c91" target="_blank" rel="nofollow noopener">medium.com/@MMFinance/8th… Article 2 - @MMFinance/introducing-the-8th-launchpad-mmdao-d8770ea11a2f" target="_blank" rel="nofollow noopener">medium.com/@MMFinance/int… Here are some snippets from these 2 $METF articles to compare against the $DAOJO article from DOJO SWAP team now "Do set aside the negative connotations involved with seeing the “DAO” phrasing in light of recent Ohm DAO forks price action. This is because, this DAO of ours is a different interpretation of how such a project should truly work to grow and appreciate value." "Imagine a token with a strong treasury to back its own prices to weather through a possible crypto winter. Not only so, the treasury also holds onto POL for all MM Ecosystem projects. This WILL serve as a price stability mechanism for all." "The team will be placing all POL that has been accumulated thus far from trading fees (~$1mil USD), and will continue using POL from trading fees to back the $METF token." "⚡️ How are we different compared to other Olympus forks and what makes us truly sustainable?" **** So How Did this End ? **** $METF token sure went up quickly to 300$ several x from it's launch price. But eventually fell to 10$ in a matter of days & is now at 3$ roughly. You can see it here - coinstats.app/coins/mad-meer… Every team that has ever launched POL & DAO token in this manner has crashed & Burned. This is not a reflection of technical skills, or strategy or blockchain or ecosystem. But I don't believe a DeFi / DEX project should create a POL of their own tokens. It's like a death spiral. When one token price starts falling, your entire ecosystem starts falling. In my mind POL of your own ecosystem tokens is like building a great building on a pile of cards. Rather the team should start piling up $BTC, $ETH & probably stables into the DAO to be used as investment for the bull run taking out profits with set targets & goals & use the profits as reserves to face the harsh Crypto Winter. I am hoping this attempt of POL succeeds. But from what I have seen & what I know this seems to be going on the same path as multiple other failed projects who have tried POL on their own ecosystem tokens so far. In the initial few days / weeks it would like it is really good for the ecosystem & the $DAOJO token could do multiples from the Launchpad price & will also lift the price of $DOJO and other tokens. So I will be buying into $DAOJO - but then I am going to start changing my HODL decision of $DOJO & will start to reduce my holdings slowly to not end up in an $MMF like situation again.

$DOJO Ecosystem Tokens - My Holdings & Strategy Just to make it clear. I have been posting about @Dojo_Swap and the ecosystem tokens from before the token launch & most had done a 5-6x in it's ATH. I still hold a decent size of all the 4 ecosystem tokens except $DAOJO $DOJO - the main token. Launched at 0.15$ and had crossed 1$ in it's ATH doing a 7x in it's highest. Currently at 0.30$ and I think it can run up above 1$ in a proper bull run. Posted multiple times. Have done dozens of post on this main token. One good starting point here - x.com/chennai2london… $SUSHI - the first ever CW404 NFT token. Had launched at 150$ and crossed 1000$ and did a 6x+ very quickly. Had explained it here - x.com/chennai2london… $BABYDOJO - the first reflection token. Probably the only token that has not gone up after launch. It was a big free airdrop and launched at 0.006$ roughly and s currently sitting at 0.0019$ less than 1/3rd of the price. Explained it here - x.com/chennai2london… $DAOJO - the governance token with POL. This is the only token that I have not done DCA or bought after the initial airdrop & TGE. Infact I have reduced the holdings for now and taken profits above 60$ range. I explained it here - x.com/chennai2london… The token that I have been using to do DCA but also a bit of profit taking in this list is mainly $SUSHI. This has gone down below 400$ and above 600$ - up and down a few times in the last few weeks. I keep one portion for HODL and then another portion I buy low and sell when it goes up - as a main rinse and repeat. Using the high ups and downs to advantage to increase holdings or create a USDT pool for liquidity for the market. $DOJO is increasing every day automatically from the Pools and Farms. So I don't need to do a DCA by buying. $BABYDOJO I haven't done a DCA in recent days as it has been going up steadily. So it's up by around 40-50% in the last 10 days or so. So if it drops price by 30-40% then I might buy back. But not doing DCA at the moment. Now these are what I consider ecosytem tokens. Other tokens launched by @Dojo_Swap were only partner tokens and launchpads like $ROLL, $KAGE, $YKZ etc. Not doing DCA into any of them at the moment. NFA - Please DYOR - As always just sharing my own personal strategies.