If you’re interested in crypto you’ve probably been seeing more about Forever FOMO Finance recently, especially since they’re still relatively new in the crypto space and are establishing themselves both as a company and as a cryptocurrency.
What is Forever FOMO Finance
At the core, Forever FOMO is like any other cryptocurrency company. They’re trying to create a token that offers unique value to consumers. And, like most cryptocurrencies right now, they’re also trying to increase the value of that token to generate profits for themselves and token holders in their community.
What’s a little different about Forever FOMO is that they’re also controlling the value and increasing the value of their token more closely than other cryptocurrencies. Both in an attempt to help insulate their token from market shock, and to make its progression more predictable, and therefore easier to manage, for consumers.
But how are they doing all of this, and is their token a good option for cryptocurrency buyers right now? Let’s take a closer look at what Forever FOMO Finance has created, how it works, how you can use it, and why it stands out from the other crypto tokens on the market.
Oh, and we’ll talk about the pros and cons of this specific setup so you can decide if Forever FOMO is right for you.
What is Forever FOMO Finance Token?
So, Forever FOMO Finance tokens are pretty simple at the core, but the implications of the design of this token can have pretty big ramifications for consumers.
We’ll talk more about how Forever FOMO manages to have a flexible token value and supply, and why it’s significantly less random than the evaluation of other cryptocurrencies in the next section.
The token is hosted on the Binance Smart Chain and is designed to offer a steadily increasing value per token, which is meant to make it an excellent trading token.
You should think of Forever FOMO as a permanently increasing token. It’s designed so that the value of the individual tokens won’t go down, and will go up at controlled intervals. We’ll get more into the details of all that in the next section, all you need to know is that the token is called Forever FOMO, it’s designed to keep going up, and that Forever FOMO Finance controls both the supply and value of Forever FOMO to give you a more stable and predictable crypto token.
Say goodbye to pump and dump. Welcome to stable, flexible, and increasing value tokens.
How Forever FOMO Finance Works?
Basically, Forever FOMO is a flexible token, and both the available supply of Forever FOMO and the price of the available supply are flexible. So, instead of value shifting with demand and supply, like a lot of cryptocurrencies and many standard currencies, Forever FOMO can much more directly control the price of their token.
Forever FOMO manages this control with ‘rebasing’ where they reduce the available supply of the token to push the value of the remaining supply higher. Over time, the company also increases the supply of Forever FOMO, but without dropping the price.
Rebases are done 24 times a day, once per hour, and are incredibly predictable. Unlike other market forces, which might go up or down suddenly based on unpredictable events, Forever FOMO is designed to have very predictable supply, demand, and pricing.
That answers some of the market instability of other kinds of crypto, but also means that trading is more important with Forever FOMO than some other tokens. You don’t necessarily want to ‘hodl’ Forever FOMO. More on that later.
Currently, Forever FOMO isn’t worth a dollar per token, and has a relatively limited supply with a market cap of $121,397, as of this writing. However, because this token is designed to have flexible value, that might change quickly. Look at Forever FOMO charts to get more up-to-date information about this token.
Unfortunately for Forever FOMO, despite being designed for a consistently increasing evaluation, the token does still have variable value and can decrease in value, which it has recently been doing.
That’s probably at least partially because of the downturn in cryptocurrencies in general recently, so it doesn’t necessarily undermine the base function of Forever FOMO to see those decreasing valuations.
Potential investors should also know that Forever FOMO was intentionally designed to start with very low market value. Like a lot of new cryptocurrencies, Forever FOMO Finance’s business model is based on starting small and growing as they find their market and start getting more buyers for the token.
Despite the low current value, Forever FOMO has been growing since its release. It’s value is higher right now than it was on release – at least in part because of the techniques the company uses to help maintain an upward trajectory on currency and token value.
Eventually, the goal for Forever FOMO is to transition from a flexible value toke to a pegged token, where it will be pegged to a value of $1,500,000 per token.
Given the current evaluation, Forever FOMO has a long way to go before reaching the $1,500,000 goal Forever FOMO Finance indicates.
How To Use Forever FOMO
The primary goal of Forever FOMO is to be a good trading currency, and that the currency will steadily increase in value over time, allowing you to increase the value in your wallet through trading and carefully managing rebases.
However, rebases themselves will not change the value in your wallet. Instead, unlike currencies where the value of your holdings increase as the value of the currency increases, all a rebase of Forever FOMO does is decrease the amount of currency available, including the currency in your wallet, while also increasing the value of the currency.
So, if you had 10 Forever FOMO with a total value of $10 before a rebase, you’ll have 5 Forever FOMO with a total value of $10 at the end of the rebase.
Make sense?
All of this is designed to give Forever FOMO holders a more stable price floor. From there, you can trade and use other market strategies to make more money.
Remember, just leaving Forever FOMO in your wallet won’t increase its value. Theoretically, it doesn’t matter how many rebases you go through, the currency will still be worth the exact same amount it was when you purchased. You’ll just be holding steadily fewer tokens for the same value.
However, the stable floor leaves room for more market innovations and works well with other currencies to make it possible to gradually increase the value in your wallet, as long as you’re actively using Forever FOMO to meet that goal.
That said, while Forever FOMO is supposed to have a stable value floor, the reality is that Forever FOMO is still vulnerable to market fluctuations at least some of the time, which means that its actual function in the cryptocurrency market is somewhere between its theoretical function and the function of other tokens.
What Makes Forever FOMO Finance Special?
Forever FOMO’s main claim to fame is their solid price floor and the fact that the currency is designed to increase in value over time without the pump and dump schemes and instability of other kinds of token.
In fact, the way it’s designed, pump and dump really doesn’t work with Forever FOMO, so it’s designed to take some of the risk of market tricks and crypto-bro economics out of the equation.
That said, the theory behind Forever FOMO and its actual function don’t quite line up. That’s true of a lot of financial products, so its not necessarily a point against the currency, but it is important for potential investors to understand before they either buy Forever FOMO or invest in Forever FOMO Finance.
Pros/Cons Of Forever FOMO
Before you decide whether or not you want to get into Forever FOMO, it’s important to think about the pros and cons of the currency and what kind of trading you want to do with it.
Let’s dig in:
Pro: Your Value Is Based On A Percent Of Market Cap
This is one of the big differences between flexible tokens and other kinds of crypto. The value you hold isn’t about how many tokens you have or even about the value of those tokens. Instead, it’s about what % of the market cap is represented by the tokens you have.
So, the number of tokens can go down, but as long as your % of market cap goes up at the same time, the value is flat.
That means you don’t have to deal with having a ton of tokens at low market value (in fact the number of tokens you hold will go down every time the currency rebases), which can help avoid a false impression of value from volume.
Con: It Can Be Hard To Track Actual Performance
One of the problems with this system is that it actually makes things a lot harder to see how the currency is doing. Normal charts showing the value of an individual token are going to show the value increases, but not necessarily what % of the market cap each token is worth.
An increase in value + an increase in % of market cap can mean a good-looking chart without producing profits for the people holding the currency.
That’s why it’s so important for traders to be active with this currency if they want to make a profit. Short of market pressure pushing the price up outside of a rebase, individual token value will increase without creating a profit.
Pro: It’s A Very Predictable Token
If you know that a token is going to rebase and know that its value is going to increase while the supply of available tokens goes down, that actually gives you a lot of valuable information about what that token is doing and what the market around it is going to do.
That means that you have at least one stable point you can design your market strategy around.
Con: Forever FOMO Is Very New And Very Dependent On Attracting Buyers
Like any new crypto product, Forever FOMO will only work if people are willing to buy in and trust the premise around the token.
That said, Forever FOMO has a couple of things working against it in terms of attracting buyers. For one thing, it’s a new token in an already overcrowded market, and it’s track record since launch in 2021 isn’t necessarily impressive enough to inspire buyer confidence.
Forever FOMO also has an uphill battle in terms of convincing crypto fans to buy in because it’s a rebase currency and crypto buyers are skeptical of how rebasing will help them turn a profit – or even maintain the value of their investment.
That skepticism is enough to push buyer interest lower, so Forever FOMO has to make up that lost ground before it can get sales. Without buyer interest, investments are likely to stay stable or decrease in value, not go up.
Team, Investors and Partners
Not much is actually known about Forever FOMO’s team, investors, and partners, at least, not outside their Telegram community, if there. The company is very focused on the Token and spreading awareness and information about the way it functions, not on About Us sections or acknowledging the creative team behind the token.
In some ways that makes a lot of sense. After all, Forever FOMO uses a very different value system compared with other tokens, and looking at their Twitter shows that at least some of their users didn’t understand the system before buying in.
Those misunderstandings definitely resulted in some confusion and frustration with the currency, neither of which will work in Forever FOMO’s favor given how important word of mouth can be for crypto.
Ultimately though, Forever FOMO Finance isn’t doing themselves any favors by making the founders and team hard to find online. Not being public about their identities, at least in their professional capacity, can make it harder to trust the company and harder for investors to move ahead with their purchases.
Without knowing the founders and investors it’s hard to do much more than just evaluate the product itself on its own merits. At the same time though, it can help keep bias and predictions of success or failure based on the reputation of the founder out of the equation. At least some of the time, that’s a good thing for the market.
Conclusion
Forever FOMO Finance seem to be trying to capitalize on a relatively new form of cryptocurrency, and their token is increasing in value, as is the market cap (which is potentially the more important stat to watch for this token).
However, complications in the market, the fact that there isn’t much publicly available information about this token, and skepticism in the token’s target market are all potential challenges that Forever FOMO will have to overcome if they want to be truly successful.
John S. Logan has been working with cryptocurrency for nearly as long as it has been available on the market. With a professional background in the finance industry, he believes that blockchain technology, cryptocurrency, and decentralized finance play an important role in the future of the world.
