Alright, we all had our fun with LARPing and FUDing our own bags and rode Ohm up and down mount Olympus three times.. time for some soul searching.
We know the fundamentals and the core team are second to none.
· The DAO is one of the best and most established.
· The partnerships and impact of what Olympus created in this space cannot be denied.
· The protocol is time-tested and withstood multiple harsh corrections with cascaded liquidations.
· The community is strong.
So why do we see such horrendous price action… and before you reply in a defensive manner, be honest with yourselves and look at the thirteen straight weekly red candles in a row… rarely seen in a solid asset, and we ARE a solid protocol. So what seems to be the problem?
We are at a point where possibly half of Ohmies are fine but the other half is down .. and down bad. A community does not prosper when half of its members are suffering or not whole.
Sure, macro factors, crypto market down, BTC, migration, etc. etc. can all be factors. But many other protocols suffered the same or worse (how many protocols were hacked and lost millions) still not seen such weekly candle pattern… and no matter which chart or PA you look at, naked, Index-Adjusted, MC, or otherwise… the DEMAND is not there… the volume is suffering
So let us focus on what WE as community can control, this being the (3,3) path that some or many have abandoned. Every drop in price is because someone is willing to sell regardless of price level … antithesis to the fundamental idea of Olympus (3,3).
Taking profit is fine and is a must to WAGMI in crypto but tell me what profit sellers are taking when throwing away Ohm at $180 or even $200. Selling into strength is one thing when the price is healthy, selling at these levels is slaying the Golden Goose that helped and is helping us all.
The honor system of we all (3,3) and we all make it is breaking down because SOME are not following it. Not sure if small Ohm holder can move the price this much and most if not all the small holders are here to invest for long term with minimal selling to pay a minor bill… mid and large size bags have more impact as you all know.
I am not calling this a conspiracy of backroom dealings, not at all, every player in this space is doing what is best for them, it used to be (3,3) but fear or greed can push those who made it to (-1,-1)… I understand some are selling to go invest in other protocols in the ecosystem to help the whole system, I did that for Redacted and Abachi. I am sure others did too for Rome, Klima, and all other partner protocols. Some have good reasons to sell to pay off mortgages or buy a home.
The protocol, rightly so, rejected the idea of time-locks, are you proving us wrong?? Are you saying that the ve(3,3) that is being worked on by AC is the right way? Is the trust of the community to act in its own self interest responsibly too much to ask? Tragedy of the Commons? I hope not…
Ohmies, it is time to come home and save the (3,3) way. If Olympus fails all other partners will suffer or fail. The whole model will be discredited…
The concept is to own Ohm (3,3) and never have to sell it.. so why are you selling anon?
I hope I am wrong.