What has really happened to Jade Protocol? That is the question I am asking, and probably you as well? The protocol was booming and it had a price of $450 and people got rich... well, that was until the price suddenly dropped and the token is now trading at $20. That is just one crazy mess. Can you imagine, the initial IP Address Guide investment of $1000 in Jade three weeks ago is currently worth $100, and that is considering also that the number of tokens has soon been doubled. What does it mean? The actual token price is at 5% of the initial price.
But, what is causing this? Is it a rug?
To be honest, it doesn't seem like a rug to me. The team behind Jade Protocol and SmartCoin seems to have some actual developers and skills included because without such, they wouldn't have been able to create the SmartCoin in the first place. But, they currently seem to have trouble, and I have a feeling that this is more about a teenager somewhere who is trying something... he has skills, but he doesn't really have the wisdom to bring it through.
So, we are promised news from Jade before New Year's Eve, and hopefully, for the token owners, this will cause some change and price increase, but that is impossible to predict at the moment. The SmartCoin protocol ended on December 17th and we were promised information within one week, but that still hasn't arrived. So what will happen? Where is this heading? That is what we don't know, and I fear that a disappointing Medium article will just push the token price further down. Of course, if they actually come up with something brilliant, this could work out and in a world packed with people who love to pump the price of tokens, this might have potential.
But, our OHM fork experiment clearly shows that the big protocols with great leadership are the winners, while the rest are clearly falling apart. It might be sad that we had to do a $11,000 experiment to learn this, but still, it can clearly be seen now after three weeks of the experiment.
The experiment will last longer
Originally, the experiment was supposed to last for 4 weeks, but it will for sure be extended to last for a couple of months. Why? We don't want to end it is minus... and we are curious to see how this will progress, no matter what! Will we end up in a major plus? The truth is, if we will keep it going for 6 months, then one successful protocol of the 11 should be enough to actually make the project end in plus. That makes me all the more curious!
What do you think?