VestaDAO: Current Picture
So unlike basically every other project to ever exist, we’re going to give you a detailed outline of our current position.
The Good:
Despite the circumstances under which VestaDAO was formed (see VestaDAO History), we actually have a few things going for us:
Wide open market: It is actually crazy that no-one has moved to fill the information void in the Metis ecosystem - with the Metis Ecosystem Development Funds (EDF) being distributed (~$15million to be distributed this year at current prices) we should begin to see a flood of new projects deploying in the near future. Given the full EDF amount allocated to project grants is almost $100million at current prices we should continue to see this in flow for several years. This creates an opportunity waiting to be taken.
Good connections: Our project lead, Cobi, has not been idle for a second since taking over. He earned a bunch of good faith for taking over the project and has been busy creating a network across the Metis ecosystem. This positions us perfectly to gain help and support in the early days of our plan, including privileged access to dev teams of existing projects.
Great community: It’s a bit cliché to say - every community claims to be the best. But here’s a fun fact - since the migration we have had four times as many buys as sales. Our community doesn’t just talk the talk - they believe in the future of this project. This is something that can’t be bought or faked - and something we’re not only extremely grateful for, but also a powerful tool we plan on utilising.
Low Market Cap: What can we say? We’re currently a small fish - but we view this as a strength; much better growth potential and the opportunity for the most faithful of our supporters to own a significant chunk of our future.
The Bad
We Broke. No other way to say it. If you don’t know why, please read VestaDAO History.
This is definitely an issue worth addressing. Our hope is that eventually the sale tax will be more than sufficient to fund the day to day expenses of VestaDAO (and hopefully begin returning value to our holders) but in the meantime we need to work with what we’ve got. This is why our proposed Value Proposition is focused on labor intensive strategies that don’t require a ton of capital upfront.
We’re fortunate to have some incredibly eager team members who believe in this project and will make up for a lack of funds with hard work.
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