I Got Rug Pulled And Lost $1500
Here is what I learned from this $1500 lesson
Rewind a couple of weeks ago. I heard about this cool new fork of Olympus DAO launching, (Azura DAO) only this fork was adding an innovative NFt system to make it different from OHM.
“This is amazing I thought to myself, I can buy their NFT and buy in on their IDO after! I am sure to make a ton of money.”
(subconscious thoughts: I almost 20xed on Hector DAO plus I made like 4–5xs on all these other coins, Azura DAO will definitely replicate their success.)
Fast forward to today, I get a text from someone I know who is also in Azura DAO saying the project disappeared. I quickly went to check their website, it was gone, Twitter, gone, Medium, gone.
I just got rug pulled!
The creators of Azura DAO essentially sold people worthless NFT’s(the nft would have had value in-app) and sold us nothing at the IDO. They just took the money and said “adios”.
So here's what I learned from this “rug pull” which I like to call a lesson I paid $1500 to learn.
I learned to not let my emotions govern my decisions. In the past, with every coin I have made money on, I have had a good intuition feeling about it. For Azura DAO, I didn't have a good intuition feeling, and I invested because I thought their NFT concept was cool, and that because on all these other DAOs I did well, Azura DAO would replicate their success.
So to wrap up this article, I have already moved on and am not too upset by the loss. I learned a good lesson so I am happy, and I am going to apply/use this lesson and learn from it to avoid making this same mistake in the future.
Cheers!
(if you think I am rich which is why the $1500 loss doesn't bother me, that's not the case. I am not upset because the past is the past. Spilled milk is spilled milk. You just gotta clean it up and pour yourself a new glass. Or in this case, make back $1500usd)
(not letting your emotion govern your decisions is way easier said than done, when your making decisions in life, really dig deep within yourself and reflect on if emotion is playing into your decisions. For me, I always make the right decisions when I use my logic and intuition.)
I hope this helped!
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