Why Bebis and the Byte Masons keep pumping $OATH
Hey folks, in preparation for the bull market, I’m still not confidant to put down any bets on any potential 100x gems, but instead I’m looking at products that seemed to have successfully survived the bear market intact. For I believe that if they can continue on-pace, then they might be a good investment to lock-in.
Last article I talked about $CAKE’s price action and how for the last several months it has been able to stay in a pretty tight $3–5 dollar price range, and really $OATH is no different, if not drastically much better:
Despite all the market crashes and contagion that culminated with the collapse of FTX, $OATH has managed to stay in a very tight 8–10 cent range since mid-July, and the way the Byte Masons are continuing to build out and improve upon their already numerous strategies — from what I can tell, there’s no signs of them slowing down.
$OATH Tokenomics
If you’re wanting to read in-depth about $OATH’s Tokenomics, I’d suggest taking a look at Byte Mason’s CEO Justin Bebis’ article that he published nearly a year ago last February where he gives the following breakdown:
What Bebis’ article focuses strongly on is why each breakdown of allocation is needed and justified. If you read through the entire article, you’ll probably notice something missing — a vesting schedule, or more specifically when/how you might get dumped on. If you’re unfamiliar with vesting schedules, token unlocks, and FDV, I highly recommend that you check out my previous articles because for better or worse, they’re very important things to know as they can serve as key indicators that can help protect you from being a victim of a token dump.
Luckily, I got a quick and direct answer from Bebis on the Byte Masons’ discord that the 12.6% Vested Team Allocations are emitted linearly (as opposed to a cliff) over the course of 4 years, distributed monthly. There are other portions that are omitted over a 4 year schedule (such is the case of the 20% allocated to LGE), but emissions might vary as decided by the Oath foundation. (Other proportions, such as the 11.5% for Talent Acquisition haven’t been tapped into yet.)
If you’re curious of what kind of price impact a potential monthly distribution of 12.6% team allocation dump might have, considering that there’s a 400,000,000 million token max supply, that means roughly 1 million tokens are given out to team members every month:
400,000,000 x 0.126 / 48 months = 1,050,000 tokens max handed out every month
Given that the current circulating supply is approximately 102,876,689 $OATH, that would mean that there’s a potential max dilution effect of roughly a little less than 1% that’s occurring every month. I personally consider this a pretty big nothing-burger, especially considering that Bebis reported that the team isn’t dumping all of their tokens into the open market every month, and instead are accumulating like the rest of us. I was also told that because of a reduced headcount in August, that the 12.6% share might not be entirely accurate — just because less people are sharing the drink doesn’t mean the remaining drinkers get larger straws.
This however, leads me to my next point…
Who are the Byte Masons and why should we trust them?
As I’ll reiterate in my final disclaimer, I am not a financial advisor and I can only speak personally to what I’ve seen from the Byte Masons myself, and to the reputation that I’ve seen them built. First I’ll start with the CEO Justin Bebis, the man who in my opinion, is who Andre Cronje should have been:
If you haven’t seen an episode of Fantom Unchained (or what its become of now, Block Bytes’s Across the Chains), I highly recommend any crypto-enthusiast to do so. Austin and company have produced a highly entertaining weekly live stream where they talk about all the latest events that occur in the cryptospace and up until recently, Justin Bebis, was a regular. Needless to say he is fully doxxed, and it’s strongly evident (despite maybe some weapon wielding antics) that he’s a builder that greatly cares about the ethos and values of what crypto is supposed to stand for. In his open letter to the Byte Masons team, it’s a testament to the team that he’s built and the direction that he hopes that the Byte Masons will continue to go on.
The Byte Masons are a team that goes beyond a standard finance protocol — it’s a mission driven project that helps to further the cause of protecting the consumer. On their main page they state:
Byte Masons, in the pursuit of public good, seek to improve access to financial tools, transparency of financial organizations, and ethics in business operations. We will strive to set safety, security, and service standards in the DeFi industry and seek excellence in everything we do for the betterment of our community and ecosystem.
Their creed is echoed in the fact of how active and supportive their community is — I have yet to be in a discord community where you constantly have that many byte masons on at the same time, answering questions and driving discussion.
To stop this from being an open love letter to the Byte Masons, I’ll stop there — however I challenge anyone to give me a dissenting take on Bebis and the rest of his team, because I’ve been hard-pressed to find anyone that doubts his integrity and character.
What this means for $OATH
With all of this being said, it’s strongly apparent that the Byte Masons are in it for the long-haul, which is one of the reasons why I’ve been very bullish on $OATH and keeping an eye on some of the yields that you can get off of it. Here are some of the top contenders:
OATH-USDC Pool on Reaper.farm: 101.092% APY
OATH-BUSD Pool on thena.fi: 80.62% APY
OATH-USDC Pool on tarot.to: 67.44% that can be leveraged to 297% APR
Needless to say, these are some insane returns that you can get off of $OATH, and assuming that the future price action remains as stable as it has been — in my opinion this is a pretty good opportunity to get get some nice yields without getting hit that hard with impermanent loss.
Conclusion
For simplicity’s sake, there’s a lot that I didn’t go into here (i.e., audits, bribing strategies, and what they’re working on next), but if you’re curious, I would imagine that you could find out easily yourself by just hitting up their discord to find out.
This is my second article writing about a particular altcoin that I’ve been keeping my eye on, so maybe I should officially call this part of a series. But if you’re interested in reading about what other altcoins I’ve been looking at or why I'm looking at them in the first place, I recommend that you check out my recent article on $CAKE.
Thanks for taking the time to read this and be sure to follow me on twitter (https://twitter.com/CryptosWith) to get all my latest updates. Also, looking for a gift for your Crypto-loving/hating friend? Give them a REKT journal to cheer them up!
Disclaimer: And as a final reminder, this is not financial advice and this is for educational and entertainment purposes only. Please as always, do your own research and find what investments are best for you. Cheers everyone!
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