This makes sense, but other people could just imagine that hny is more âaffordableâ. We know it doesnât truly make sense, but I remember my first purchase of hny was 1 year ago with the price over 700$, and I though âs**t, I missed the train on this one tooâ.
I did buy DOT at 3$ over one year ago right after they went from 300$ to 3$. Again, stupid, but I did; (good decision, still holding) as a small investor it gave me a more tangible perception of having something
If you think we didnât try with coinbase then you are thinking wrong. I can say to everyone we tried in January or February this year via email to have meet/chat with someone from coinbase but they said to us they are not interested to projects without registered company(who is behind project etc) or at least token is listed to few CEX.
If you have money(from 20/60btc) to throw for example huobi/kucoin level 1 cex just to get listed on cex go ahead but I think from my view thatâs not good move.
im against it too, honey was so sweet
I voted 1000x. Ideally though Iâd like to see 500x. Someone mentioned earlier people psychologically target $1 and starting at ~$0.60 makes that much more feasible. Anything more than 1000x and it starts to get into that territory of shitcoin numbers. HNY at $0.03 makes it seem that much more invaluable. HNY at its current price makes it much more valuable in the eyes of a casual retail investor.
As for listing on CEXs that takes time and effort. FARM was recently listed on CB and Binance. To my knowledge theyâre the only fully anon, non registered company to have that. But that also took ~$400m+ TVL over the course of more than a year. HNY can get there but we need to keep building, major cex listing will come.
Anyone who is even remotely serious about looking at a token is going to look at Market Cap (MC). The price of the token is âirrelevantâ except in the sense of whether there is potential upside.
The upside here from $1 price is what - back to $300 and even then this gets us maybe to a $1B cap. I consider this unrealistic. Put the price around a penny via a 30-100K split and then at least the penny token players can look this over with some real eyes to how to pump it to $1. People like to be able to buy not just 1 or 100 but 1000-100,000 of something. It isnât logical but psychological.
I have traded markets with everything from pink sheet stocks to BRK-A and B. There is something that messes with your head when you are trading something that is a fraction < 1, and stuff between 1-50. I personally preferred to trading things in lots of 100 which meant that I stuck with certain prices. This was also true of options. it also makes math easy.
Right now to trade $1000HNY you are basically trading 3.x HNY. At $100 this is .3HNY.
Sure if the price is $1 then one can trade 100, or 1000 - so in that sense a 1000 multiplier works. But imagine if the price ends up at 30. 100 US again is 3.x and 1000 us is 3x
These just are numbers that will cause certain kinds/sizes of traders to be turned off.
Like I said 30-100K or nothing. Go big or go home. This fascination with $1 means nothing - zilch in the cryptoworld. In fact for the most part it is bad for HNY to split there. Either donât split it at all (and focus on scarcity which hasnât helped us at all btw) or split it into a penny token so all the speculative players can look and think - we might be able to pump this. Things that cost < $1 and in particular < .01 look like high potential gainers and with an outstanding of around 1B tokens vs. 10, 100 or 1000B this looks even more do-able. There are so many shit coins worth 100-300M with 1-100B outstanding it isnât funny.
I find it more likely with positive news HNY going from .003 to 1 than from 1-300 or 300 to 100000
I donât think âScarcity for HNY hasnât workedâ is the correct narrative. 1Hive is currently the largest native project on xDAI.
Most companies do stock splits when they believe their stock price is too high relative to other projects. I think the easiest example would be looking at Quickswap on Polygon pre-liquidity rushing in, even if Quickswap isnât even close to what 1Hive and HNY are doing. Which if we look at their price mid Feb it hovered right around where HNY price has been with similar to slightly higher TVL levels.
Upon migrating to Ethereum, I believe Honey would benefit from being a supply of 30 million tokens at a price of around $0.30. Feels right.
Iâm in the agreement of the psychology aspect of the value of the token. Just in general for people dipping into the crypto world (what I hear in real life) is people having ALOT of something vs a piece of 1 thing. Like 1,000,000 shiba inu coin vs .000132 Bitcoin. The classic⌠âif it gets to a dollar, Iâll have 1 million dollarsâ Obviously, itâs the wrong narrative but it seems to work.
Oh how right you are. I mean if you just claim RARE v2 tokens for 0.1 xDAI daily Iâve noticed over a week or so I have gianed the value of 0.51 cents RARE v2 (0.005 RAREv2) in xDAI for like 3 claims (30 cents ish). With Rare Coin v2 at its lowest price down from like $600 for v2 and $1600 for the first creation on Honeyswap its like youâre making free $ by clicking buttons but people donât bother because the amount of Rare v2 per claim seems so small by being fractionalizedâŚ
I voted 0 this would definitely kill hnyâŚso many people wouldnât want to know why it reduced in price so muchâŚthey would think itâs as a result of bad governance of the forum
YAK (https://yieldyak.com/) on AVAX (10k total supply), instead of doing a rebase created mYAK - a token pegged 1,000,000:1 to the supply of YAK. Just another interesting thought to share here for those that are against rebasing but want a higher supply total token.
i like this approach - yearn did something similar
I voted x10 because that will help the hny market and itâs stability, taking a decision of x1000 or 10,000 will definitely kill the hny price and this will really cause a lot of discouragement because most holders will feel hny got bad managers