Altcoins: Why I’m Shocked: $DAM Outperforming $ETH With Almost NO Liquidity 🤯

So I want to show you guys something very interesting, right? So this is our token called data mine uh which is on Ethereum and we launched it about 5 years ago. So it's um it's part of a much more complicated uh ecosystem uh in DeFi and it's just uh this this chart is just so interesting to me, right? And I you know it's it it's like one of those tokens that continues to surprise me because this was our first token and it is the most simple token right the whole purpose of this token is that it's a limited supply and that it can be used to power our other projects right in our in our ecosystem. So you can it's almost like you can take a percentage of the supply and then uh you know you can uh power other projects. So when we launched you know this was like 5 years ago we launched the and you know the whole idea was like okay we'll use this for something. We're not sure yet what, but it's going to be cool because what we can do is we can leverage ERC777, which was like a just like a groundbreaking um like type of a token um back then. Um but no one was like really using it. So it was very complicated. Uh, and then we were like one of the uh, only projects that really uh, took it because for us, you know, like the way I saw it, it was uh, what we could do is we could just uh, launch this and then we'll figure out what we're going to do with it. So to me, it's almost like there was no use case in in in that, right? It was always like a bridge token, right? Like the idea was we'll we'll take it we'll launch a project and if there are issues with that project we can always uh you know we can always take those uh tokens back and then um create a new smart contract and then you know you can lock in your uh them tokens there. It was like a way for us to um create a project in a dec decentralized manner because uh you know no one can really um control uh the project. Um but what you could do is you can take a percentage of your damn tokens and then um log them in. So yeah, it was basically a way for us not to use proxy contracts, right? Um like I didn't want to have like ownership, right? I want this to be decentralized. And you know, I was always just thinking like the only way for a project to succeed on Ethereum, you know, it has to be fully decentralized. Like you cannot have uh some uh some company or some DAO or some um some person that has more tokens than other people. Um so there couldn't be any advantages, right? And yeah, it was like super simple and it's that's it. like it it it was just I'm just surprised that the prices is sort of here where it is because if you look at it uh from here uh which is um you know if you don't look at USD but if you look at it back to for Ethereum then really it's not that volatile like the you know it's been pretty much hovering around this uh for for about 5 years now uh I would say even maybe below this so it's it's been a uh since we we've seen this I would say this is really the top and it's always kind of scary you know when it gets to this level you know like what's going to happen well of course people usually sell uh you know they take profits because this is a pretty high range um in my mind but yeah I mean going back it's like we have this complicated ecosystem right it's uh it's very complicated it has like four different tokens and the innovation is really not in that right the innovation is in the other tokens But if you look here on the top right, the market cap of of them, it's like, you know, like what eight eight times higher, seven times higher than uh than than this and or maybe even like more than 10 times higher than lock. And the innovation is really uh in the future in the later tokens like lock which is on arbitum layer 2 and you know and it's like a low fees and has like permanent liquidity and there's all these cool things and you know to me it's always so interesting that the project that succeeds the most right now is them. So, another cool thing about this is uh we have like $26,000 in liquidity, which is not that much, but the market cap is $900,000 or a million dollar sometimes. And yeah, it's it's just so volatile, right? And the really the beauty of that is, you know, when you have so much demand and uh so little liquidity, well, there's a lot of volatility. So, the traders are interested in that. But really, I would say the majority of um of the the tokens are actually powering Flux. So 78% uh are minting Flux, which is uh basically the this orange token and we've been minting it for about like 5 years and we destroyed a big portion of it. So we like destroyed 50%. Uh and this is by the people by the way. Like I I didn't destroy it, you know, people destroyed it. So, you know, they always have a choice like do you want to do you want to mint uh like if you go here and you say hey do you want to take your damn tokens and mint 3% APY for flags or do you want to burn it and increase this and uh yeah it's like people decide to burn it and even if you look here um you can see like you know in one year people destroy like a million tokens so it's pretty crazy and I still happening. But that is how flex works. But what we want to know is like why is damn so so sticky like you know and uh it could be just the fact that uh there is demand you know there's clear demand for people to lock it in and uh mint flex because hey 3% uh APY is still not that bad right then if uh Ethereum goes up double let's say then that's 6% right? So if you kind of like buy it low then the APY kind of increases and and then imagine if Ethereum goes up even higher then APY goes higher as well. But still to me I I just think this is so high like in my mind this this just this is a crazy price for them because like what is the demand so high that you know even like you can see here you know there are times that people get get hacked or something right and they'll be like bam right this gigantic drop because someone got hacked right or someone is exiting and you know and right now I would say there's just so many whales else. Um, you know, because there's only so many tokens. There's 60 there's 60 60 million tokens, right? And if we go to here, you can actually see, you know, it's like uh let's take a look at 10 powering validators, you can actually see there's people like have like 500,000, right? So, if you imagine 10 of these addresses, that's like 30% of the supply, right? So, there can only be so many people. Um, and you can actually see here like this this person has $26,000 left and they burn they minted $1.5,000. So, that's pretty cool. Or how about this address? Uh, or how about this one? No, no. How about this one? $20,000 and he meanted $47,000. Now, of course, that's a crazy evaluation. So, yeah. I mean, and you know, they didn't burn anything, so they they're just they're minting and selling, and that is great. You know, that is uh why Flux is so painful. You know, it seems like the most painful token in the world because I think we burned um like $1.4 million or something and the market cap is like $100,000. So, yeah. Yeah. I mean, when that when that project uh finally uh I don't I don't know what I'm waiting for with that project because inflation is like 40%. I mean, I guess we just have to go lower. We got to go 30 20. I I don't know what that amount is. Uh but at some point, minting is not going to be uh the pressure on Flux. It's all going to be pure trading. And uh you know I think that's where DAM is right now. Uh I think it there's just this very interesting demand in it. And uh I still have no Yeah, I'm just surprised, you know, honestly in this market conditions I just never expected them to do so well. Uh it's just it is really amazing. Um it's just uh sometimes I'm just uh surprised you know and um it's a million market cap like it's it's insane you know you have you have to understand we were like a project six years ago we started we took three different communities we put them together you know we had zero dollars in liquidity and uh everyone just kind of pulled in liquidity we got the audits done and audits by themselves were like I don't remember $120 $20,000 and the community funded everything. So, this is like pure community and even the people buying right now, I'm not buying it. I haven't bought them in a very long time. Like, I'm not selling my damn. Uh most of this liquidity here is my liquidity. So, uh I mean even speaking of that is it's beautiful, right? Because people are trading trading trading and uh basically the pool gets 1% of the liquidity. So it adds it you know it adds up like when someone comes in and you know they buy like $600 500 you know you know like okay so for example $500 $590 the pool makes $6 from this right so that's pretty good like for imagine for doing absolutely nothing you know I I own a big portion of this like you like I almost make like what $5 from this one trade And this another trade that's $5 more dollars and uh five it's like $8 more dollars here. It's great. I mean to me that is even better sometimes than than uh than flux, right? Because flux is 3% APY and it just takes a while and here you never know like people couple big trades uh sometimes you know there'll be like huge spikes here and that could be hundreds of dollars in one day. So when when this this kind of stuff happens like it's amazing and uh yeah it's just I cannot imagine if other people come like if if other people start adding liquidity. So I'm going to uh open to to that uh because you know if if liquidity doubles and I own uh half of the pool I'm still okay with that you know. So yeah it's it's it's great. It's just um I don't know may maybe in the future, you know, one thought I had is like adding more liquidity here. Um I don't know. It's uh it's just so lucrative, right? So so interesting to me specifically because um you know when I added liquidity, I just kept adding adding it and I just forgot about it and and then sometimes you come back and you're just like, "Oh, wow. It's still still holding up." uh you know we it was just $0 like literally you know when um that was probably the lowest that project was uh five six years ago and uh to see it now you know when markets are doing so bad and we are actually going up instead that's it's just crazy so yeah it's uh I I mean thanks I guess for people for believing in it and uh I am very happy with this price that's all I can say Now flex on the other hand uh you know it's an interesting uh position. I mean half of that liquidity maybe about half is mine and um you know I it's just I always have fears that you know we'll we'll see we'll see these kind of dips uh just like we did for RB flux because uh this that's why we launch block right lock is uh basically decentralized liquidity no one controls it and uh I think it's like 97% of that market cap you can see is like pure liquid basically liquidity is pure liquidity where uh the other tokens are controlled by the people. So, uh, yeah, I'm happy with, uh, this right now. I think what I'm expecting, you know, I I I just I expect always like pull back because every time something happens like someone comes in, there's some some hype and then, you know, 80% of the tokens were minting flux and someone unlocks and sells. That's such a common thing, right? And uh yeah, so it's hard it's so hard to move them. Like I don't think you guys understand. And uh you know it's just there's so little liquidity in the pool. And uh you can see here if you mouse over there's a 490,000. Right. So uh and then we can What is this? I'm just curious. Who is this? Um yeah that this is a one like a big whale. So uh very interesting to see what they will do. So just this one person has like 7% of the supply. That that's kind of crazy. Um $73,000. So, you know, you have basically uh this kind of pressure on the sidelines waiting. Um see this one 491. Oh, this this is the liquidity pool. Okay, so this is a liquidity pool and uh this is just some random whale on sitting on the sidelines for um for a while but they are they are active. So very interesting like this person is uh is active u but they're not touching them. So that's a that's a big uh big amount. So, you know, uh I expect things like that where an address like this could just start selling and you know, they they could just uh Yeah. Yeah. They they could move the price a lot by themselves. But this is where volatility comes in, right? So, someone buys, they they buy by and then they lock it in. They they mint flux and then they unlock the price is high and now they go and sell it. So yeah, um still I mean uh it's going to be interesting. We'll probably see this like we usually do over a long period of time, especially once Ethereum starts to move up. So I think actually probably one of the reasons why we're so high now is because Ethereum has been kind of going down and as it goes down the data mine tokens are just more lucrative, right? because you get higher APY in the future when it goes back up. Um, so yeah, going to be interesting. Um, yeah, I think that's it for this video. Uh, thanks everyone.