So guys, I am a Pangoliner myself and I am delighted that I can share my remorse somewhere to people who could understand.
So, I was an early joiner to the Pangolin environment. I started my journey with a great mistake. I swapped my 80 BNBs with a rate of (1 AVAX= 0.26 BNB) to AVAX (this rate decreased to 0.12 in a single day and is currently 0.11). So this can give you an idea of how this terrible story started. I then swapped my 3,700 ADAs to AVAX (which was 0.86$ when AVAX was 38.5$) and 4,000 TOMOs (which was 2.05$ when AVAX was 38.5$).
My AVAXes totaled 644 and I was very excited to join my first DEX and earn “interest”. Then I tried many different liquidities to earn good amount of PNG because just after I provided liquidity the rates dropped significantly so I had to spend some serious transaction fees each time. Also during my initial two days PNG price was going up like nothing else. It was initially USD 5, then 7, then 12 etc. Having witnessed its crazy increase, I decided “wtf. Why don’t I go all the way in and pair my then very valuable (40$) AVAX’es with PNG”. Because the other coins weren’t increasing just like PNG. Then I swapped my 40$ Avax’es to 15$ PNGs. My stupidest mistake as a 27 year older.
I quickly realized what a stupid mistake I made. PNG price dipped to 3$ and is currently close to 5$. So this is my tribute to this system. If you made any profits from Pangolin, please know that it is thanks to stupid me I lost more than half of my capital right at the beginning having swapped my BNBs for Avax and the other half by believing in PNG. So my possible 30-ish thousand is now 11 thousand (and going further down).
Having lost this fortune (considering my economic position), I find myself in position to have some comments and suggestions. This system is somehow corrupt, in that it does not reward me for having believed in PNG and I still get the same amount someone gets having paired AVAX with reputable coins such as LINK, ETH, AAVE and UNI. This is outright stupid. I deserve more respect for having trusted in a coin with no past. PNGs need better price balance mechanisms yet people still talk about airdropping more PNGs to people who have not lost a single dime to fund this system. Put yourself in my shoes and imagine buying a coin for 15$ and seeing other people receiving it for free then burning it using AVAX-PNG liquidity that I provided.
I loved the idea of Pangolin. I still hold my PNGs and AVAX. But this was a story of one-sided love and big regrets. Still, I believe in this Pangolin’s potential. I was a martryr to this cause but I still have vested interest in its future success. I know there are some people out there who have had similar experiences. I wanted you to know you were not the only ones.
For every PNG you buy for a price below 5$, remember that there was a guy who bought the same stuff for 15$. You can see each of my mistakes perusing my sad wallet and take lessons from it: