Did you honestly expect anything else in a bear market than falling prices and failed projects? Is Defi really dead though? Is my dream over?
Let’s dive in.
I held off on writing this one because I wanted to see how the 5th launch of Animal farm V2 would go. I wanted to allow time for the dust to settle so to speak and then I went to Horde to withdraw my tokens and saw this little message, sigh.
Yep, another one of my defi projects bites the dust. Oh, the devs and “community” are making noises about options and voting and choices and future promises and and and. But it still boils down to that the project has failed to sustain and people will lose money. I will lose money, again. I can no longer claim.
In fact, the list of failed Defi projects is quite impressive and I myself have been in a lot of them (and lost money)
TIME (Lost 20K on that one)
Sphere (Yes it’s still going but is now just a token)
Safuu (Glad I did’nt fomo in at the top on this one when it was 200)
and actually, I can’t be bothered to continue this list because it’s just huge!
Most all Defi projects have failed. A lot of the above were hacks and exploits or just downright project failures.
So where does this leave us Defi lovers with an ever-dwindling supply of viable projects to play around in? Well, we still have Drip and we still have Animal farm. Outside of that, we have Flux (not really Defi) on which I’m running 3 Stratus nodes which produce a nice steady return for me. To be frank I think that’s pretty much all we will have until the next bull run in 2025.
But wait, Furio! Yes I know there are others but so far I resisted the temptation to ape into yet another project. But you must accept that people are going to sell off any project that they are in including Drip and plants out of their gardens. What about Drip?
There is an awful lot of Drip being hoddled in wallets and there are as of today 139 maxed-out wallets. That is a LOT of sell pressure. We can see this here in Dune.
But we can also see in Dune that Drip is ever popular and is growing.
That’s monthly new accounts and as you can see a nice uptick in October to 7018 new accounts. On the whole, I am very bullish over Drip and outside of Flux it is by far my favourite project which is why I have 5 wallets on the go and might add more.
Devastation 🙂 Let’s take a look at my main article garden.
Yep pretty much devastated no matter what I do. 2 million dollars has been taken out of the contract now. I claimed a couple of times just because I wanted to see what impact that has on my daily LP production. But yeah while Drip is losing ground in terms of price gardens will fall. Across my 5 gardens, I’m still able to draw about $750 daily but yeah it is down a lot.
My plan here is to just keep growing them and not claiming. My next target for this one is 1 million plants a day. It would be nice if the contract rewarded in some way those of us who do only compound and are not claiming but alas it does not. This garden is in the 20 to 30 million range as you can see below.
There were over 300 wallets ahead of me at one point and now there are 131 not counting the range I’m in. This is a clear indication to me of the top wallets selling off.
No, I don’t think so but it is and will struggle over the next couple of years. I am hoping that all that money that is wasted on the lesser projects will find its way into Drip and Animal Farm and these two projects will come out on top.
If both of these projects can keep going till the next bull run in 2025 they will be massive with a capital M.
To achieve this Forex must keep delivering on the roadmap for extra utility. Let’s hope that he does.
If you would like to get involved in the DRIP Network please read my articles on DRIP here and use the buddy link below to join up.
drip.community/faucet?buddy=0x1511093a940a12F6593cFb886E7ac4ea95AdF5AB Or enter the following into the Get a Buddy box: 0x1511093a940a12F6593cFb886E7ac4ea95AdF5AB
If want to join the Animal Farm Drip Network Garden you can use my referral link which is this
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