If you have watched Ooze.Finance since launch the 21st of June you will have seen the token skyrocket in 5 days from listing at 1.29 USDC to an all time high of 3.4 on the 6th day. Then all of a sudden the price reversed and now sits at 2.48.
What’s this all about? Will the price continue to tank? Read on for my take.
To combat the vultures, *ehrm*, I mean the the short-term holders, that buy a token at listing, only to dump it once the initial pump hits an assumed high, the Ooze.Finance devs levied a 50% tax on sells decreasing linearly down to the base 10%. Right now, at the time of publishing, we are at 17% sale tax.
As the one week mark approached, and the tax had lowered to around 20% tax on sells, some large sells occurred. The first large sell set off a domino effect of sells from the other short-term holders.
We have now passed the 1 week mark, and I believe we are now seeing the end of short-term holders selling off. Once these short term/weak hands have been shaken off, we will once again see a steady climb for ooze. Having holders that are only doing it for short term speculation does nothing beneficial for the system beyond paying a 10% tax at buy and sell, and only increase the circulating supply. In other words: good riddance!
Remember — the Ooze token public listing started off at 1.29, so even with a 10% tax on the buy and a 20% tax on the sell, these short term holders had made a tidy profit. They will (should!) curse themselves in a few months as others will have benefited from the power of compound interest and the price appreciation I’m sure Ooze will see.
Are you looking to enter the Ooze.Finance and think that you can time the perfect bottom? Well… good luck to you! If I were in your shoes I would shake off the notion of a perfect entry, get my Ooze on and start the amazing (and fun!) ooze journey to financial freedom. The power of compound interest is second to nothing, and Ooze.Finance has plenty of innovative and well-thought out innovations to stand the test of time and competition.
Want to know more about Ooze Finance? Check out these articles
I’m part of the SlimBees, the biggest, friendliest and most knowledgeable Ooze community! If you want to join Ooze.Finance, please consider using my referral ID to get access to the SlimeHive telegram group as well as the big group SlimeBees. Send me a message on telegram when you have joined — or with questions/assistance getting you set up!
For those that join the Order of Slime I offer 75% kickback on your deposit, and all future taxes that hit the SlimeHive, the same goes for my guru!
To join my team, either enter this referral ID (case sensitive!) @SlimeHive or follow this referral link:
Contact me on telegram (please reference ooze or this article when you do)
How to get started with Ooze.Finance — with USDC in your wallet on the Fantom Opera network, go to dApp.Ooze.Finance and enter the “ManHole”. There you swap your USDC for Ooze. With Ooze in your wallet, head to The Sewer, where you mint your NFT (remember to enter a Guru!) — now you’re earning 1% day, tied to an NFT that is upgradeable and transferable. Enjoy!
Nothing in this article is to be construed as investment advice. Neither the author nor the publication takes any responsibility or liability for any investments, profits or losses you may incur as a result of this information. The article may contain affiliate links.
