Read on Twitter
1/ Thoughts on investing and missing winners:
A case study on $COVER.
You can't catch every winner. That said, there's always something to take away from the one that got away.
A case study on $COVER.
You can't catch every winner. That said, there's always something to take away from the one that got away.
2/ Since the lows in late Nov, $COVER has ~6x its token price.
I knew about COVER since the SAFE farming days, but dumped my SAFE tokens shortly after Cover released its original tokenomics. https://twitter.com/Wangarian1/status/1317670107091406850?s=20
I knew about COVER since the SAFE farming days, but dumped my SAFE tokens shortly after Cover released its original tokenomics. https://twitter.com/Wangarian1/status/1317670107091406850?s=20
3/ At the time, the lack of thought and poor economic design of the $COVER token was the nail in the coffin for me.
I know many others shared my view. However, we all missed something.
We underestimated the team's ability to learn from their mistakes.
I know many others shared my view. However, we all missed something.
We underestimated the team's ability to learn from their mistakes.
4/ Since then, they've corrected their mistake and have maintained a breakneck speed of execution, now forming numerous partnerships with other protocols and being the go-to insurance channel for higher-risk yield farmers.
5/ I guess looking back, the lesson here is to always give people a second chance (or even third). Most people won't surprise you, but those that do will be worth it.
Perhaps being open-minded enough to reconsider a formed bias is also important.
Perhaps being open-minded enough to reconsider a formed bias is also important.
6/ Now at $70m mkt cap and $120m FDV, they've shown me that winners can come from anywhere.
Do I own any $COVER? No.
Will I buy some now? Probably not.
But I do think of it as the one that got away, and I hope I'll remember this lesson in the future.
Do I own any $COVER? No.
Will I buy some now? Probably not.
But I do think of it as the one that got away, and I hope I'll remember this lesson in the future.
