Crowd pooling participants - proceed with caution

It seems like some people were very upset about the first Dodod IDO crowdpooling event due to a combination of high Ethereum gas price overhead and massive over subscription. One user reported contributing $750 but due to the 173x over subscription got 16 wSZO for $4 and spent $100 in gas. Even though those tokens are now worth 4x the offer price they still lost significant amount vs just buying after the crowdpooling

Gas prices are not under the control of the Dodo team, and no one knows what the price will be - I suspect if it had gone 100x and they were now worth >> $400 he would have been okay. Or if he had put $7,500 and gotten 160 wSZO now worth $200 he also would have been okay.

The lesson to be learned is BUYER BEWARE or caveat emptor as it is written in Latin.

And if you enter a sale with small bags early on whales coming in even in the last block of the crowd pool can easily dump tens of millions of funds and take almost all the coins.

I think there are some crowdpool parameters that Dodo could add that might help things although in reality without some way to identify unique buyers to a real world ID it is very hard to prevent cheating.

2 Likes

Thanks for your advice, yes, we are aware of this issue, we have airdropped DOOD and wSZO tokens to all participants to show our gratitude, and the whitelist function will be launched soon.

1 Like

Great - love that Dodo team is taking care of the community as some of the glitches are worked out!

1 Like

eth 2.0 release will reduce gas fee, if we are looking for long term - keep in mind we have to keep accumulating eth for gas…

yeah, waiting for the eth2.0 or Layer2, we plan to build DODO on Arbitrum first.

1 Like

Will be interesting to see how that stakes up against Optimism which I’ve heard Uniswap and Synthetix are planning to support. I don’t know enough about these rollups (I should read Vitalik’s article) to know if it is incompatible or complimentary.

can you help me how to understand how to join the dodo crowd pooling. what are the pre-requisites so Dodo will assign an allocation to myself. thank you.