This is a continuation of my previous $JADE article.
I probably could have used $TIME in the title, for greater effect.
It had dawned on me this morning that the token isn’t that different from the precious stone. If you look online, I don’t think you’ll find an absolute answer regarding jade’s tendency to become greener as you wear it. Friends of mine with jade bracelets claim that it does, so I’m inclined to say that this is the case. However, common sense (as supported by articles on the internet) dictates that a porous material like jade could only get dingier and dirtier from being exposed to the elements and the dirt and oils on your skin.
I also didn’t know that jade comes in all different sorts of colors. I had previously believed that it was either white or green, but it also exists in black, red, yellow, orange, and lavender colors. Green is the most precious color and the one that commands insanely high valuations if you have the good stuff.
So, where would one classify $JADE? I think the jury is still out, but as a late investor, I’m certainly more bullish on the project than those that got in near its all-time high. My initial investment was at about $26, and then I DCA’d and purchased more at about $18. Unfortunately, I didn’t DCA properly and hadn’t invested the same amount. After watching some YT videos about the reasons for the price drop, I felt like something was there. Although I know better than to FOMO into any project, I decided to invest more into $JADE after the price suddenly jumped, at about $58. Then I DCA’d (and continue to DCA) as the price dropped to the mid 30’s. It’s a shame that the Jade Protocol no longer offers any sort of APY on one’s investment, but it makes sense since this is a clear way to sustain the project.
Here’s what my investment’s performance looked like from 12/27/2021 to 1/4/2022:
The dotted lines are associated with the right axis, where blue is my stake and red is the current price at the time of comparison. Note that the blue dotted line levels off after the team removed the APY. (sniff, sniff)
The green and yellow lines correspond to the left axis, where the former is the current value of my $JADE investment, and the yellow is my total investment.
As you can see, for this late investor, I’m currently ahead by a couple of really nice sushi dinners. But we’re all here for gains and looking for some sort of impactful result, right? While some dream of lambos or big houses, I’m interested in time — for me, being able to do whatever I want, whenever I want without being a slave to the daily 9–5 to pay off my debts is the ultimate goal. Yes, I can get there without crypto, but if I can find an additional vehicle to drive me over that finish line more quickly, I’m willing to take a little risk.
This is clearly not intended to be financial advice, but the reason for my FOMO’ing at $58 is because I believe in the message that Einstein (the creator of the Jade Protocol) delivered to the community. I’m paraphrasing him from YT video coverage of his discord discussions / arguments, but essentially there was a lot of encouragement for FUDding the project, as this shook out all of the paper hands, leaving the real believers behind. While the plan he revealed isn’t necessarily a slam dunk, I think it has merit.
Basically, the Jade Protocol intends to be a VC fund for startup blockchain companies. Stakeholders in Jade can suggest other projects that show true unicorn potential. In addition, Jade has employed people that have a track record for identifying the next big thing(s). Pairing this with the remaining Jade believers’ social media presence, they believe that they provide compelling benefits for any project that teams up with them. In return, they would get preferential token pricing, which then allows the treasury to grow once those tokens moon. (I really dislike using that term, but I felt that it was necessary in this particular instance). Einstein has also stated that the goal for the project is a $1000 price floor, and this price floor will actually be protected by one of their bots that will buy and burn $JADE as necessary. If they can do this, even those that invested early will be fine.
Even if I had invested in Jade early on — correction — especially if I had invested in Jade early on, I would be investing more now. DCAing has saved me a few times already. Two notable examples would be $BONDLY and $PAID, both of which experienced some sort of question inside-hack-job that caused the value of the token to tank. I purchased $BONDLY in Feb 2021 at $0.42, and $PAID at $3.31. Both of those coins tanked after their respective hacks. I probably could have written those off as losses, but instead I dug in — I purchased $BONDLY in July at about $0.02 and $PAID at $0.50. When I eventually sold both tokens, I ended up making about $2000 on $BONDLY, and reduced my potential $6500 loss in $PAID to $2500. Those were terrible coins for me to invest in, and to be honest, I think I succumbed to the YT shillers on those. However, this just highlights the value of DCAing — and this technique isn’t just for defending yourself against a terrible purchase, but it’s also good for establishing your initial position. Never spend your bag all at once and don’t try to time the market. Ease your way into it. Oh yeah, not financial advice, but in my mind, this is investment common sense.
With the current price of $JADE stabilizing a bit over the past few days, and Einstein’s dream of a $1000 price floor, I’m very tempted to increase my position. The question is, how much should I invest? Without a APY, I don’t see this as a passive income play, and it feels more like something that I’ll eventually need to exit. Please correct me if you see otherwise! I certainly wouldn’t complain with a $1000 token value. I don’t know what the potential ceiling is for $JADE, but I suppose I could look at this as passive income if I skim a little off each month, selling off little bits of $JADE — if the price continues to go up.
So, like the precious stone itself, how $JADE ages over time leaves its community wondering — will it increase in luster, or will its color continue to fade? Stay tuned for future charts of my experience.