We have had a rebase token experiment running since the start of December 2022. But, we haven’t really done any updates since the start of May, simply because almost all the projects have died, and also due to a lack of interest in the articles. But, since June is here, we decided to take a closer look at the three projects actually still alive, OlympusDAO, Wonderland, and HectorFinance.
You can find more information about the experiment right here. There are a few more projects alive in the experiment, GyroMoney and REDACTED, but they are somehow suffering a slow death (at least so it feels). Some people might disagree on that, especially when it comes to REDACTED Cartel, but time will show.
But, what about OlympusDAO, Wonderland, and HectorFinance?
These are three serious projects and they have all experienced a tiny price increase in the total value of investment since we last reported about their value one month ago. Of course, this still means that the price per token has decreased, but as we add the rebase rewards that all of these protocols operate with, they are still positive compared to thirty days ago.
Wonderland is the only project running with a crazy high APY among all the rebase tokens. Even though the APY is above 70,000%, they have still managed to run with a somewhat stable price recently, giving room for some people even to take profit along the way. They seem to work quite regularly on improving the project, and it is obvious that many investors are still attracted to the project because of the high APY.
OlympusDAO is quite generous with their APY as well which is more than 400% at the moment. It is very little compared to the Wonderland APY, but when you use common sense, even 400% APY is a lot. This is a project that has a clear use-case, a big treasury (made up mostly of stable coins), and they generate revenue every single day. OlympusDAO was the first of the rebase tokens, and they are absolutely on track to survive and actually perform well long-term. During the very turbulent days and weeks after the TERRA (Luna) incident, OlympusDAO was one of the best performers in the entire market.
HectorFinance is working hard on their protocol and they are now operating with an APY at approximately 100%, the most conservative of the three protocols. Hector is constantly coming up with new ideas, and their implementation of the TOR stablecoin has also made HEC become a deflationary token.
Where to invest?
To be honest, I would be extremely careful investing in any of these. As long as the market is bearish (as it is right now), I expect all cryptocurrencies to drop in value. In such periods, large currencies such as Bitcoin and Ethereum often operate as safe havens, while all others currencies suffer. It was, however, interesting to see that OlympusDAO, Hector, and Wonderland, all did quite well in the midst of the Luna crisis, meaning that these tokens actually did better in the very bearish end of May and start of June, than big giants such as Avalanche, Solana, Vechain, and many others.
I suggest that you do a lot of research, and if you feel like investing in any of these, go for it. But, do not forget only to invest money that you can afford to lose!
