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AthleteX-DAO / athletex-sops

AthleteX's Standard Operating Procedure's
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Defending Token valuation #1

Open user2745 opened 1 year ago

user2745 commented 1 year ago

When AX was set at 10c, it collapsed because there was no demand side to support token valuation. Paul W. Bradley also suggested fundraising to set token price but i think this only works to limited extent ( see FTX, LUNA crashes, the centralized players fundraised but no amount of fundraising can beat 'the market' )

user2745 commented 9 months ago

Following up on this, some form of utility needs to be built into the token to cause buying, speculation only is a second-order cause of buying.

This also explains why BTC originally went up: as people made transfers on the protocol, token was used.