HODLing in Bear Market (DAO)
“When the going gets tough , the tough should get going”
Seeing the bear market and current trends in Dec 2021 and hearing some youtubers it seems that this is not the first kind of bear market in crypto years (being honest I started crypto in 2017 only) and this will happen later as well but the question for all of us now is ….Shall we continue Hodling our $$$ investments or take it off the crypto market !!!
As stated above, I am fond of a few crypto torch bearers on youtube and some of the Telegram alerts/channels AND in saying that I am a big fan of DAO (Decentralized Autonomous Organization) and current fiscal year 2021–22, I believe, is the time for Metaverse and DAO , period.
Since DAO has been very active recently and alot of forks of Olympus DAO has sprouted on many of the layer1 protocols like BSC , AVAX , POLYGON , MOONRIVER, HARMONY and so on , their telegram and discord channels are also getting very active. Their community is getting involved and trying to get the gist and understanding of the very core of their DAO systems and their crucial Dev and Infra Teams who actually do all the magic and has setup the whole DAO ecosystem for their community to invest into.
As twitter , telegram and discord channels provide feeds and inputs on their DAO platforms including price updates, annoucements and general chit chat, community is having a plethora of choices same as like retail brands of shoes or dresses where one has to make a choice which one to hold onto being their favourites.
I have also personally invested in a few platforms noteably LIFE DAO, GALAXY GG DAO, NEMESIS DAO , ONE DAO and ROME DAO respectively and might invest more into couple of other DAOs. And because we are all humans , one should always consider high risk investments with care and should not put in all of their assets or money into them. Due care and due diligence must be practiced, whether it be through reading blogs or articles, listening to known or unknown podcasts or by even watching youtubers on your favourite youtube channels. Ultimately, it is your personal decision and no one will be responsible as none says it as financial advise <we all know the footnote there! >
What I see and feel being a DAO investor is that as long as the DAO community is active, DAO has a healthy eco system , system is getting audited and multi sig is being practiced, one can have some level of trust onto the platform.
I can totally understand why the team wants to stay anonymous ( could be the same team is behind similar DAO systems , or they could be hiding their IDs due to various agencies who want to better capture their financial film , squeezing their money mojo etc) , but I do expect an improved and well formulated balance of APY and PRICE.
Comparing various DAOs I stated above or even if someone is using some other DAOs like WONDERLAND , HEC , FORT , SPARTACUS or else coingecko , coinmarketcap, nomics — all such sites can provide a good total value locked <TVL> stats for a month (even 3 months) to state their management skills. Such information is public and can be found on websites without paying a single dime.
In writing this article, my whole objective was to tell the DAO community to HODL (you can know more projects via defillama.com website too) and let us all benefit from the DAO system and the forks. We are the public and we have the power- never forget that!
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