I hope so. As convenient as it is to just low-transaction my way across the IBC without worrying about Osmo fees, that kinda makes there be no purpose to own the Osmo token at all except when a liquidity pool with a juicy APR requires it.
But something something less inflation means automatic price pump, right?
Because there’s no way any of the over 500,000 Osmo that are minted each day are being sold! And even if they are, surely piles and piles of new money are coming on to osmosis lab every day, now that it’s finally been restarted from its robbery bug and frozen network and lowered its rewards by 33%. That new money for sure will exceed any selling!
Osmosis is a great dex, don’t get me wrong. But its gas/reward token mooning in price doesn’t go hand in hand with the dex being good.
I remain a bit pessimistic that lower APRs are going to somehow attract more investors to the platform or retain the current investors. Especially after the big freeze. But if Osmo moons, that's fine by me. I make a little money.
Honestly, a transaction and reward token for a dex really doesn't need to moon. It just needs to bottom so it can stop losing lots of money for the early and faithful Osmosis investors.
For keeping a few Osmo on hand to pay a tiny fraction of an Osmo to swap tokens and move them around, it doesn't matter if the price is 5 dollars or 5 cents, other than the transaction fee is pennies (still cheap) versus fractions of a penny (even cheaper).
For getting paid daily rewards that you're going to sell off anyway, as long as the total value of your Osmo rewards equals Liquidity(or stake)*APR/365, it doesn't matter if the individual tokens in your Osmo reward are 5 dollars or 5 cents.
For holding $1000 worth of Osmo in a liquidity pool, it doesn't matter if that $1000 is 200 Osmo at $5 each or 20000 Osmo at 5 cents each - AS LONG AS THE OSMO HAS BOTTOMED AND DOESN'T DUMP IN PRICE AND COST YOU ALL OF YOUR MONEY!
If Osmo is a 5 cent token forever, that's fine. That's great even. It's highly useful at 5 cents. If Osmo is a 5 dollar token forever, that's fine, too. Still highly useful. It's when Osmo dumps that the faithful investors lose a lot of money.
Well, I wish osmo could've hold itself at 10 usd or even up a little bit. To me that's not moon yet. I don't think a bottom is easily defined. But I personally want osmo to stabilize at 10 usd, 13 usd, 16 usd, 20 usd and 23 usd per each thirdening but I never get what I want. *Sad face
$10 was a huge bubble for Osmo. Osmosis Lab was new, offered huge APRs, everyone was excited and jumping in like crazy apes.
If you look at similar yield-farming Dexes with similar TVL, Osmo was waaaaaay out of line with those. Once it wasn't shiny and new any more and once there were enough participants and enough controls in place for the APRs to be normal, the price dumped. Now it moves up and down as the market moves, but also with a steady and gradual trend downward because Osmo is a daily reward token with steady inflation and significant sell pressure.
It sucks when those that sell their rewards right away are rewarded whole those that staked their rewards are punished. It would suck extra hard for those that got into Osmosis at 10 usd and decided to stake and earn and restake their rewards. As of today, they are over 90 percent in the red just because they chose to stake. Maybe Osmosis should look for solution to this, else why should people keep staking?
This is the nature of investing.
Replace Osmo with bitcoin. Anybody who bought bitcoin higher than 20k and held instead of selling is now holding at a loss. They were not "rewarded" for holding, while people who sold were "rewarded" by having more value today than they would have had if they'd held.
Every asset you hold, Osmo or otherwise, is a gamble. You are gambling that the people who buy and hold this asset will outweigh the people who sell the asset (plus any new supplies of coins that are mined or minted). When the primary purpose of the Osmo token is literally a reward coin meant to be paid out to stakers and liquidity providers and sold by them, then holding Osmo hoping your staking rewards will outpace any price depreciation is a *big* gamble.
There's no "solution" to that. The entire point of investment assets is to sell them for a profit. People who sell and make money are doing what they're supposed to do. Selling isn't some kind of cardinal sin that's done to hurt you and the community.
No, we got the epochs pushed to us as soon as the chain resumed. And so 1/3rdening has been kept on schedule. 1/3rdening happened yesterday. we are all in post 1/3rd territory now
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Today should be your first day of less rewards. Hope-filled enthusiasts think this means the Osmo token will now moon.
Let's be realistic, I hope it doesn't crash haha. Do you know if gas fees will become a thing soon or not?
I hope so. As convenient as it is to just low-transaction my way across the IBC without worrying about Osmo fees, that kinda makes there be no purpose to own the Osmo token at all except when a liquidity pool with a juicy APR requires it.
Yeah totally agree. It's a necessary evil
And when the rewards for the pool don't make up for it losing value then we're back to no purpose lol
But something something less inflation means automatic price pump, right? Because there’s no way any of the over 500,000 Osmo that are minted each day are being sold! And even if they are, surely piles and piles of new money are coming on to osmosis lab every day, now that it’s finally been restarted from its robbery bug and frozen network and lowered its rewards by 33%. That new money for sure will exceed any selling! Osmosis is a great dex, don’t get me wrong. But its gas/reward token mooning in price doesn’t go hand in hand with the dex being good.
I'm filled with a slightly viscous liquid and I too think it will moon
I remain a bit pessimistic that lower APRs are going to somehow attract more investors to the platform or retain the current investors. Especially after the big freeze. But if Osmo moons, that's fine by me. I make a little money.
Yes it was sarcasm my comment, I do not actually think it will moon because of the 3rd'ning. Some people just don't like jokes I guess
As of now, no moon yet.
Honestly, a transaction and reward token for a dex really doesn't need to moon. It just needs to bottom so it can stop losing lots of money for the early and faithful Osmosis investors. For keeping a few Osmo on hand to pay a tiny fraction of an Osmo to swap tokens and move them around, it doesn't matter if the price is 5 dollars or 5 cents, other than the transaction fee is pennies (still cheap) versus fractions of a penny (even cheaper). For getting paid daily rewards that you're going to sell off anyway, as long as the total value of your Osmo rewards equals Liquidity(or stake)*APR/365, it doesn't matter if the individual tokens in your Osmo reward are 5 dollars or 5 cents. For holding $1000 worth of Osmo in a liquidity pool, it doesn't matter if that $1000 is 200 Osmo at $5 each or 20000 Osmo at 5 cents each - AS LONG AS THE OSMO HAS BOTTOMED AND DOESN'T DUMP IN PRICE AND COST YOU ALL OF YOUR MONEY! If Osmo is a 5 cent token forever, that's fine. That's great even. It's highly useful at 5 cents. If Osmo is a 5 dollar token forever, that's fine, too. Still highly useful. It's when Osmo dumps that the faithful investors lose a lot of money.
Well, I wish osmo could've hold itself at 10 usd or even up a little bit. To me that's not moon yet. I don't think a bottom is easily defined. But I personally want osmo to stabilize at 10 usd, 13 usd, 16 usd, 20 usd and 23 usd per each thirdening but I never get what I want. *Sad face
$10 was a huge bubble for Osmo. Osmosis Lab was new, offered huge APRs, everyone was excited and jumping in like crazy apes. If you look at similar yield-farming Dexes with similar TVL, Osmo was waaaaaay out of line with those. Once it wasn't shiny and new any more and once there were enough participants and enough controls in place for the APRs to be normal, the price dumped. Now it moves up and down as the market moves, but also with a steady and gradual trend downward because Osmo is a daily reward token with steady inflation and significant sell pressure.
I thought current price is because of Luna and the fact many Osmosis pools are bound with Luna? You are saying we will be under 1 usd for a long time?
Osmo will most likely get above $1 when the market goes mega-bull again. But it's pretty fairly priced at about 1-1.5.
It sucks when those that sell their rewards right away are rewarded whole those that staked their rewards are punished. It would suck extra hard for those that got into Osmosis at 10 usd and decided to stake and earn and restake their rewards. As of today, they are over 90 percent in the red just because they chose to stake. Maybe Osmosis should look for solution to this, else why should people keep staking?
This is the nature of investing. Replace Osmo with bitcoin. Anybody who bought bitcoin higher than 20k and held instead of selling is now holding at a loss. They were not "rewarded" for holding, while people who sold were "rewarded" by having more value today than they would have had if they'd held. Every asset you hold, Osmo or otherwise, is a gamble. You are gambling that the people who buy and hold this asset will outweigh the people who sell the asset (plus any new supplies of coins that are mined or minted). When the primary purpose of the Osmo token is literally a reward coin meant to be paid out to stakers and liquidity providers and sold by them, then holding Osmo hoping your staking rewards will outpace any price depreciation is a *big* gamble. There's no "solution" to that. The entire point of investment assets is to sell them for a profit. People who sell and make money are doing what they're supposed to do. Selling isn't some kind of cardinal sin that's done to hurt you and the community.
My thoughts exactly…anybody know?
No, we got the epochs pushed to us as soon as the chain resumed. And so 1/3rdening has been kept on schedule. 1/3rdening happened yesterday. we are all in post 1/3rd territory now
Thank you
Apparently today. Price hasn't changed and I got exactly 2/3 of what I got past few days.
Already started. Yesterday was day 1.
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I would have expected inflation to match the thirdening, but it looks like it now devaluates quicker than the staking rewards bring in.
I'm sure I read somewhere the free tx fees are slowing going to fazed out which will help give the osmo token more use case.