Across over 40 chains I have never seen a larger undelegation than the one happening on @cosmoshub right now.
Typically undelegations go directly to the market and indicate a problem with the chains market position.
Huge undelegations from Genesis wallets indicate that early donors are fed up.
Given the amount is so large, it might go to OTC desks instead of open markets. Does anybody know the OTC price of one atom when purchasing a million atoms?
I don't, but I'm going to guess, with numbers like these I bet atom is going for below a dollar already OTC.
@bankless
@BetterCio@BetterCio price action is a forcing function to reflect, but means nothing without action.
I have a clear proposal to move ATOM forward here, would mean a lot of if you review: https://t.co/TFuNoqwE4d
I have no social credibility, so you'll have to rely on the merit of ideas.
We're going to MAKE COSMOS GREAT AGAIN
No more excuses for ATOM. It's time to get serious.
I propose 3 simple changes to Cosmos Hub (inspired by WillB's tweet)
1. Reduce inflation
2. Increase block times
3. Add permissionless CosmWasm
The tech is ready. We just need to flip the switch, turn it on, and unleash ATOM.
The time is now. Looking forward to your feedback: https://t.co/TFuNoqwE4d
We're going to MAKE COSMOS GREAT AGAIN
No more excuses for ATOM. It's time to get serious.
I propose 3 simple changes to Cosmos Hub (inspired by WillB's tweet)
1. Reduce inflation
2. Increase block times
3. Add permissionless CosmWasm
End of year 2022, ATOM and SOL were the same price ($8-$9)
Now SOL is at $140 and ATOM at $4.
The road is clear, you either give the market what it wants (product), or you play the blame-game of oh it's this governance or this foundation or this committee or this pool spend...
Of course ATOM can't be a better BTC than BTC! This should be obvious.
But, ATOM can take the simple formula that all successful blockchains to date have used:
powerful blockchain+vibrant community=success