I Ghosted FANTOM - Will The Blockchain Become A Ghost Town?

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Written by

#Club1BCH

1 year ago

In community: Club1BCH(4ac4)

Topics: Fantom, CRE8R, Cryptocurrency, Blog, Writing, ...

I explored Fantom for one year and things are as ghostly as they can be. SpiritSwap and BethoveenX where my DeFi experiments, and I've done heavy farming with my $CRE8R tokens. Unfortunatelly the graveyard shift started with the perpetual bear market and everything went half-way into a grave.

Fantom is not a real block-chain, but a Directed Acyclic Graph-based smart contract platform with 3 blockchains. The DAG system used by Fantom doesn't centralize all the power on a single decentralized ledger, creating a "decentralized, permissionless and open source, high performance, scalable, customizable and secure platform for smart contracts, designed to overcome the limitations of previous generation blockchains."

All my assets took an average 95% cut, and all my tokens were zombie crypto. It happen perpetually and I never pulled the plug. The CRE8R - FTM LP on BeethovenX went for 5k to $500 in few weeks, and kept diving even further. I was still earning rewards and hoping for the bull to rise again.

One year later... I can tell you that the bull never got up! Maybe is waiting for the right opportunity, or maybe the bull is tired... or maybe the bull is DEAD!

I finally decided to embrace the situation and accepted that a 92% loss is not as bad as a 99% loss. Withdrew the LP in the same proportions as it was deposited and got a fresh bag of wrapped Fantom and a lot of CRE8R tokens.

Guess what? The CRE8R tokens got a good surge of value and gained over 50% in a week! Was the best time to cash out, if we ignore the $0.83 all-time high, and this made me feel sad! CRE8R DAO was one of my best experiences in DeFi, an amazing learning curve and a journey that opened so many doors.

You blink ... you lose! I wasn't 100% sure I wanted to sell, and I hoped for an even better price per token. CRE8R started to sink again, and I had to act fast! HODL or ghost out Fantom?

I decided to press that swap button and all my CRE8R tokens gone into the grave, and 488 FTM were summoned by the chain necromancer. Got some slippage for the swap, and I think 0.5% was a high price to pay!

Ghosting out wouldn't be completed without a visit on SpiritSwap. One year ago I locked 404 $SPIRIT and gained voting power, which I used to vote for higher APY on my CRE8R LPs.

I watched the value dropping 95% and unlocked the $SPIRIT just to know is free to haunt my wallet. Claimed the rewards, unified the bag, and left it there for better days. The Fantom adventure is far from over, but for now it's time for the graveyard shift!