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Theres a couple important details left out here. The massive APY was a marketing ploy that certainly some people fell for but anyone with a little bit of research understood the APY would steadily decline everyday until it reached a more sustainable level. A more sustainable APY was going to be paid by the yield that was being generated by the hundreds of millions of dollars they had brought in through the silly marketing ploy, which even had a "lambo calculator." The project also had a lending aspect to it where people could leverage and loan out their tokens. This was the real cause of the downfall of the project. Once the identity of Sifu came out and people started panic selling it created a massive cascade of liquidations for all the leveraged holders and tanked the price. The team had also always advertised a "floor price" which, when reached, would trigger buybacks of the token in order to keep the price above the floor. The team did not support the floor price as quickly and effectively as people wanted and they lost even more trust. Now with VOLTA all of the drama has passed, the original team is gone, and the project is 100% community run. They still have hundreds of millions of dollars that is earning yield everyday so there is a chance of turning things around. For everyone accusing OP of being irresponsible by not cutting their losses now the whole post to me reads more like "I did this as an experiment and I am just going to ride it out as far as it goes." If they can afford to do that who cares? It will certainly create an interesting experience for people here to read about and learn from.
>That conversion to VOLTA makes no sense either, how can it be 7x the worth of the TIME tokens, that should either bump up the price of TIME again or collapse the price of VOLTA I don't think it was a straight 7x conversion to Volta. And probably can't just buy time to swap, usually timestamped in some way so everyone who sold is shit out of luck, or what you said can't buy time. Not going to research this shit to find out though.
What did you expect to happen with 8500% APY? Even the best case scenario of it being a pure supply increase of 8500% a year should still make you nope out of there immediately. Any APY that's significantly higher than what banks offer should make you scratch your head and wonder where that free money is coming from. That conversion to VOLTA makes no sense either, how can it be 7x the worth of the TIME tokens, that should either bump up the price of TIME again or collapse the price of VOLTA unless it's impossible to trade TIME besides swapping to VOLTA
I lost $50k in chedda, which was ruggpulled twice and is now worth less than $1k. I made it back trading other tokens. At one point I was down $100k on the other positions as well, the last month has been a blessing. Also, if you staked your TIME you had to convert to WMEMO, WMEMO is now VOLTA and that’s actually doing pretty decent, but they closed the window for conversion if you haven’t done so already ..