Why is Ooze price tanking?
You might have heard about the fairly recent new-comer to the Daily ROI DApp scene: Ooze Finance. Maybe you have seen some headlines on Medium, maybe even watched a YouTube video or two. Due to all the innovative features of Ooze Finance, and with a lust for passive income, you visited the DApp homepage, where the chart is visible and available to anyone who visits.
DAMN! You might think after seeing that chart — no way I’m getting onboard that sinking ship!
In the following I will give some reasons to why I believe your fear is unfounded. Maybe that will be enough to allay your fears and allow you to join the amazing Ooze community, and our journey towards sustainable passive income and financial freedom!
The beginning
As you can see from the chart above, Ooze Finance launched in the end of June, the 21st to be exact. A lucky few had then partaken in the closed presale, where Ooze was sold for 1 USDC per Ooze. The public presale sold Ooze for 1.25.
Ooze quickly climbed to 3.50 USDC, followed by a sharp correction. The correction you see at the very beginning of the chart was due to early birds that had not staked their Ooze to an NFT, selling it for a quick profit. The profit-taking was kicked off by a large sell before the initial sale tax had gone all the way down from 50% to 10% (decreasing linearly over the first week after launch).
Once that initial profit-taking was done with, the token once again started a healthy climb.
The present
Over the last few weeks Ooze has seen a higher sell pressure, than buy pressure. That naturally leads to a decline in price. Those who got in at pre-sale, or were early buyers after launch, are still in significant profit on their staked Ooze — especially if they compounded for a while after minting their NFT (the balance on your NFT will double in 74 days! That’s the exponential power of compound interest in a nutshell).
Veterans of the DApp scene are not worried at all, the chart above is in fact typical for this kind of project. Many (but not all!) early investors seek to get their initial investment back sooner rather than later, and add significant sell pressure in the early days. As word gets around and more users join; as the fantastic potential of the LP-token Slime sinks in and more people supply liquidity; as the use-cases increase; as the locked Ooze increases — so will the price of Ooze.
The near future
In just a few days, on the 9th of September, the productive (and very present on their social medias) Ooze developers add two more innovations to the Ooze scene: listing on Spooky Swap (the premier DEX on Fantom); and multichain bridge.
I will give both of these a more thorough introduction once they have launched, but for how: how will the impact the price and price-trajectory of Ooze?
The listing on SpookySwap increases the visibility of Ooze Finance a LOT in itself, it also enables Ooze to be visible on DEX screeners as the liquidity will be migrated and therefore becomes available for 3rd parties that pull data from the major DEXes. The migration will also be joined by a marketing push, that further increases visibility.
The multichain bridge is a true innovation by the Ooze Finance team, as far as I’m aware it’s a first in the DApp scene, and certainly in the daily ROI DApp scene. So what is it? It is a huge simplification for the onboarding into Ooze. Ooze Finance lives on the Fantom network, and while a fast and cheap blockchain, it is not as widely used as for example BSC (Binance Smart chain) or ETH (Etherium). With the multichain bridge directly in the Ooze Finance DApp gone are the days where you need to swap and bridge your tokens, and then finally go to the DApp to purchase the coveted Ooze. Simply select your origin network, the token you wish to purchase with, hit a button and BOOM — after confirming some transaction you have Ooze AND some FTM for gas, in your wallet, ready to mint a flashy new Ooze NFT.
To sum it up:
increasedVisibility+marketing+easeOfAccess=more users=more demand=higher price.
Got it? I’m not a financial advisor, obviously, and neither am I a soothsayer, but I firmly believe that entering Ooze Finance now is better than later.
The not-very-distant-future
The innovations and new developments coming from the Ooze Finance team doesn’t stop with multichain bridge and SpookySwap listing, there are lots of innovative and revenue generating stuff in the pipeline. I intend to treat them all thoroughly as they arrive, but for now the one I’m most excited about, and I’m very excited indeed: in DApp messaging.
Disappointed? You think that was a rather lackluster reveal for such large words preceding it? Well, let’s take a moment and consider the implications.
You basically have a communication system (text based to start, but I wouldn’t bet on that being the end of the line) where access is controlled by on-chain data. A wallet holding an NFT that is a disciple (ie. downline) of a guru (ie. referrer) gains access to content created by that guru. That guru can place demands for access, deposit size, monthly fresh deposits, behaviour of the NFT etc. A content creator (of any kind really) can thus gain instant “payments” (the referral reward for the guru, where kickback to depositor can be between 25 and 75%), and a constant revenue stream from the NFT (referrer rewards from hydrations). The one subscribing to the content has not simply “paid” for the subscription, but gained a vessel for passive income, that can even be resold if the content is no-longer of interest. Couple this with the ease of onboarding enabled by multichain bridge in DApp, and the possibilities are the subject only to the imagination of content creators.
Got you convinced? I hope so. Now add the fact that this DApp messaging system will be white labeled and thus generating income for the Ooze Finance ecosystem also through use in other projects…
Did I hear someone say too the moon?
How to get started with Ooze Finance
If you want to check out Ooze head over to https://dapp.ooze.finance with some USDC on Fantom network in your wallet, and enter the manhole. With ooze ready, go to the sewer to mint you NFT! Consider using @SlimeHive as your guru to join the Slimebees and the largest grand monastery in Ooze! SlimeHive offer max kickbacks and other incentives for those contributing to the prosperity of Ooze!
Want to read more about Ooze — read on!
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.
