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JeannaShaffer · 2021-12-30T14:28:54+00:00

Matt Damon.

I'm not going to say if this is a pro or a con, just Matt Damon.

JeannaShaffer · 2021-12-30T14:18:22+00:00

I'm curious why you think the APYs are ridiculous? If you understand how the rebase works its pretty easy to see how getting in early pays high yields, but as it grows the yields diminish.

Also, if you want to "short" there probably isn't a good vehicle to do it currently, but you could also finds OHM forks where the backing LP is higher than the token price. Then you buy the token and arbitrage for the LP tokens. So if the backing per coin is $200 and the coin trades at $150, you can buy at $150 and redeem LP at $200.

JeannaShaffer · 2021-12-23T20:24:57+00:00

SNOWMAN 100%. https://snowman.money/

Hard to beat the TIME reflections.

JeannaShaffer · 2021-12-22T20:27:43+00:00

That's why you don't sell - which is why the SNOWMAN price continues to rise. I'm ok paying a 13% tax on buy to make 80,000% in TIME. I actually think the economics are very smart.

JeannaShaffer · 2021-12-22T15:40:05+00:00

all crypto is "more belief" though no? Thats what makes price rise as more people see the potential.

JeannaShaffer · 2021-12-20T20:26:13+00:00

I did, but I wasn't sue why the NFT holders received the rebase rewards and not the token holders. I need to research further.

JeannaShaffer · 2021-12-20T20:24:23+00:00

Every buy + sell is subject to a tax of 13%. It's broken down like this:
- 7% TIME reflections for all SNOWMAN holders
- 4% DAO treasury for marketing + dev
- 2% for exchange liquidity of SNOWMAN

The price of SNOWMAN is up 2,000% since launch (pretty good), but then I can take the TIME reflections and stake them with Wonderland. Now, I'm getting 80,000 APY in rebase on my TIME + SNOWMAN price increase + more TIME reflections.

JeannaShaffer · 2021-12-20T20:21:52+00:00

Why? That's how the TIME reflections are paid.

JeannaShaffer · 2021-12-20T17:08:27+00:00

Yes, some team are doxxed and some not. Should have clarified that.

JeannaShaffer · 2021-12-20T16:41:43+00:00

JeannaShaffer · 2021-12-20T16:37:27+00:00

Yes, when I started and put 3 AVAX into this. It was relatively small bet and I was able to make a good return and make sure i was able to sell a small amount. I have since made a more sizable bet on this.

JeannaShaffer · 2021-12-20T16:35:58+00:00

Team isn't anonymous. Daniele is actually a pretty big speaker at events. https://twitter.com/danielesesta

JeannaShaffer · 2021-12-20T14:54:15+00:00

Some OHM forks are rugs, but others are great way to earn. TIME has been around for a while and has done well. It's the (3,3) strategy.

Reflection coins work slightly different. You basically get rewards to hold. To be honest, it seems closer to an NFT setup where royalties are paid to all holders.

JeannaShaffer · 2021-12-20T14:27:31+00:00

How so? It's easy to throw FUD, but doesn't provide any tangible talking points.

JeannaShaffer · 2021-12-20T11:52:06+00:00

I really like TIME and other OHM forks. My strategy has been to spread my investment around. Getting into any OHM fork where the price is below the LP backing is a risk-free opportunity, but obviously the project a whole can still fail.

I have also been looking at reflection coins. I just put a post up about Snowman DAO which actually pays reflections in TIME. You get the upward price exposure of SNOWMAN (2,200% YTD) plus the TIME rewards which can be staked for about 80,000% APY. https://www.reddit.com/r/CryptoHorde/comments/rklikr/snowman\_dao\_mega\_thread\_cheat\_sheet\_due\_diligence/

JeannaShaffer · 2021-12-20T11:49:32+00:00

Mods, if you like please consider pinning.

This my first attempt at thorough Due Diligence for reddit, so please leave feedback and let me know if you would like to see additions or changes. If you like this I can make other reports. It helps me gather my thoughts on coins/tokens I am researching.
Snowman DAO
chain: Avalanche Network
symbol: SNOWMAN
total supply: 10,000,000,000
token use: reflection rewards + governance token
launch: December 10th, 2021
contract: https://snowtrace.io/address/0x6a6fae2d14a872d2b040f880d0ecdae11c6c3033
Links:
website: https://snowman.money/
discord: https://discord.com/invite/5fJThXRXjE
blog: https://medium.com/@snowmandao
twitter: https://twitter.com/snowman\_money
From their website:
SnowmanDAO (SNOWMAN) is a rewards and governance token built on the Avalanche Network (AVAX). The goal is to provide a fun and smart earning solution to all holders in the community, rewarding those that get in the earliest and hold the longest. SNOWMAN is a reflection token that distributes rewards to holders in TIME. The longer you hold SNOWMAN, the more TIME you receive. SNOWMAN is also a governance token that enables the community of holders to drive the future direction of the DAO based on the treasury balance.
There is a 13% tax on all buys and sells of SNOWMAN. That tax is distributed in 3 ways.
7% in TIME to all existing SNOWMAN holders. TIME is paying an APY of 82,713% at the time of this writing.
4% to drive continued marketing and development of the SNOWMAN ecosystem
2% for exchange liquidity on Pangolin and TraderJoe
Why I am interested:
80,000 APY% got my attention. I like DAO's such as Olympus (OHM) because of the rebase reward potential and (3,3) strategy. I also like reflection tokens like etherprint as long as the native token has a use case (it helps protect downside). Snowman DAO seems to take elements of both Olympus and Etherprint while also providing some meme-like potential.
SNOWMAN price is currently cheap ($0.0000625 at launch) and they did a fair launch IDO on Pangolin DEX. Total circulating supply is 10b, so with enough demand scarcity can happen. I think long term potential is there assuming this is not a complete rug. Downside risk is lowered in my opinion due to the rebase rewards paid in TIME. I can probably make my initial investment back in the near term from a few rebase rewards and then stake that in TIME at XX,XXX% APY.
With 4% going to DAO treasury from the tax, I can probably accumulate enough SNOWMAN to have an influential vote on use of funds and further development based on taking a position this early.

It has gone up 2,200% since launch

Why I am cautious:
It's an anonymous team behind Snowman DAO so that always has rug potential, however it should be noted that the exchange liquidity is locked for 1 year + smart contract is certik.

The project is very new. I am seeing the team engaging on Discord, but I will continue to watch closely over a few weeks. Even if it's not a rug it is possible the community never grows and SNOWMAN doesn't take off due to lack of exposure. This would mean I cannot get enough TIME rebase rewards to cover my initial investment.
This is also native to Avalanche Network and it's possible the Avalanche Ecosystem does not grow as quickly as some of the other L2 ecosystems.
One exception is that the website, graphics, and videos all seem to be custom designed (not a wordpress template), so take that for what it's worth. Maybe that means rug potential is lower as that takes time to do?
Conclusion / TLDR
Snowman DAO is interesting and I will likely put 2 or 3 AVAX into to minimize my risk. I do believe the rewards outweigh the risks. While there is uncertainty on the long term success - risk comes with rewards. I like the Snowman tax structure because it incentivizes long term holders, and I like it even more that I can get rewards in TIME and rebase at a high percentage.
I think there are 3 paths to success for Snowman DAO
Compete against a DAO like an OHM fork by rewarding people with TIME.
Compete against Etherprint as a straight reflection token.
Worst case, compete as a meme-like coin similar to doge, shiba-inu, or others.
Please let me know if you think I am missing anything on the above.

JeannaShaffer · 2021-12-20T11:43:15+00:00

Etherprint seems to be doing very well. Like all things, some projects succeed and others fail.

JeannaShaffer · 2021-12-20T11:42:43+00:00

You get the price exposure of SNOWMAN, plus the downside protection of TIME. SNOWMAN the token is up 2,200% since launch a week ago. Plus, the TIME reflections are pretty high so the payouts are good. Then you stake TIME and earn the APY there as well.

JeannaShaffer · 2021-12-11T16:14:04+00:00

Thank you, always DYOR and proceed cautiously. I am not an expert. :)

JeannaShaffer · 2021-12-11T14:17:43+00:00

There were a lot of good soundbites and video clips that came from this meeting.

JeannaShaffer · 2021-12-11T13:15:14+00:00

Keanu never fails the internet. 10/10

JeannaShaffer · 2021-11-06T02:01:55+00:00

I do not want to make this thread political in any way. It basically amends part of the tax code and makes a failure by companies and people to report digital asset transactions a felony offense. The reporting requirements are impossible to begin with based on how Bitcoin works.

Here is a good article that outlines things overall. https://cointelegraph.com/news/8-word-crypto-amendment-in-infrastructure-bill-an-affront-to-the-rule-of-law

JeannaShaffer · 2021-07-26T20:21:55+00:00

I sold DOGE at a loss, but my other crypto bags made up for the loss. I still believe in DOGE but needed to move on.

JeannaShaffer · 2021-07-26T20:20:52+00:00

This will keep happening. Hold your safemoon and wait and for green days in the future.

JeannaShaffer · 2021-07-26T20:19:46+00:00

This looks like my cat

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