
Phyrex|Sep 12, 2025 13:09
Here’s a funny story: at an event in Japan at the end of last year, a certain project that’s pumping today was offering OTC deals to participants in both the Chinese and English communities. The tokens were sold at a 50% discount with a six-month unlock period. The price at the time was $0.86, but they were selling for $0.8, and if you bought in bulk, you could negotiate further—apparently, the lowest was around $0.6 or so. I don’t remember the exact details.
Then the token just kept dropping. It hit a low of $0.1X, and even with today’s pump, it’s only back to $0.2X. So basically, if you bought OTC back then, you were losing money from the first month. It quickly dropped below $0.4 or $0.3, and even with today’s pump, you still wouldn’t have broken even.
At the time, I was upfront about questioning the project’s direction, and I don’t think there were any deals made in the Chinese community. The project team then went to the English community, where people were even more direct in calling them out. In the end, it seems like very few people actually bought in, and those who did are probably still cursing them out now.
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