The desire to take a lot of profit from gains is strong without hype/buzz about what comes next.
HBB could be a valuable long term investment that creates governors for life, stabilizing the price and value.
Volatility restricts small cap tokens from being used as lending or borrowing assets, and standard governance tokens don’t have a great track record of keeping investors engaged.
Marinade introduced NFTs where the governance token (MNDE) is locked for 30 days. Since the introduction of the idea the coin began to increase in value, and with the mint now live it’s safe to say locked MNDE has been a success.
Here’s my takeaway from this experiment:
- It’s a lot easier to vote with an NFT (that has the tokens embedded) instead of making sure there’s enough tokens to vote for each issue.
- The NFTs are about membership rather than rarity, which creates an engaging and friendly community.
- The community is inspiring more NFTs to be minted, and in turn locking the token for a minimum of 30 days.
- Unlike many discord groups where people hold governance tokens and could participate (but usually don’t), marinade NFT holders are aware that they have the power to shape the DAO and have submitted a lot of ideas since the launch.
- Fixed amounts of HBB or USDH inside an NFT could be locked away for strategies and investments.
- NFTs could lock for variable amounts and be treated as bonds
- A stack of coins just doesn’t look, or feel as good as your very own HBB NFT
So what comes next?
If we want to go a similar route to marinade, they are a solid team that may be willing to share resources to help with a smooth launch.