"Nation3", whose currency price soared 24 times, wants to build a country on the cloud?
TwitterTwittersaw itNation3This project, since April 19th has beenCoinGeckoIncluded, the price of its token (NATION) soared from $510 to $12,749, with a maximum increase of 2399% (the current price is around $3,838).
secondary title
The New Narrative of DAO - Building a Nation on the Cloud
official websiteofficial websiteThere is no structured information about the project on the website, only the project manifesto (full of emotions).
While other DAOs are still thinking about how to create new organizational forms to achieve specific goals, Nation3 already wants to reshape the nation-state - a country that is truly driven by Web3 (see people this ideal).
Its manifesto states: Traditional nation-states with centralized power have more power to control the media, inflame popular sentiment, spread hatred or cause endless wars, keep the country in a dark age, and let citizens become victims (yes Yes yes, we are all victims orz), such state institutions need to be broken; we need new tools to build communities, understand laws to protect citizens from violence, and new governance models to fund public goods; and The emergence of Bitcoin, Ethereum, and DAO can support the realization of this idea.
"With the advent of Web3, the Internet will define the new shape of the community, and people will belong more to Internet communities and DAOs, rather than huge nation-states. Web3 gives us the first opportunity to move away from the services provided by nation-states and create A new way to make them 100x better and make sure they're community owned."
To be honest, after reading this manifesto, my first reaction was "too idealistic": Is this to overthrow the existing national structure and re-establish a digital country with Web3 as its value?
However, under the reflection of the current reality of the new crown epidemic and the war between Russia and Ukraine, this kind of thinking does give most people expectations and hopes.
Coupled with the current turmoil in the encryption market, the newly launched NFT and DAO projects are considered to be at a good time.
Aragon Co-Founder Endorsement
Another reason Nation3 attracts attention is that it was founded by Aragon co-founder Luis Cuende.
According to LinkedIn, Luis Cuende has successively worked in Yestilo, European Commission, Firefox, Stampery, etc., and is responsible for application development; he founded Aragon in 2016. So far, Aragon has become the largest DAO infrastructure. Aragon provides easy-to-use DAO creation tool, it only takes 0.1ETH and a few minutes to fill in the information to create a DAO, and it has 6 built-in templates. Different templates have different emphases, and organizations can choose templates that meet their needs according to their needs. At present, 1,892 DAO organizations have been created on Aragon. With its continuous development, it has gradually secured its leading position in DAO infrastructure.
image description
secondary title
Lack of fundamentals, what support does the currency price rely on?
The official Twitter of Nation3 was established in March of this year. Up to now, a total of more than 10 tweets have been released, mainly the information of the manifesto. In addition, Nation3's official website and Discord are quite simple, and there is also no specific implementation path, development stage planning, etc. of the project, and there is no telegram group established.
In terms of the economic model, information such as the circulation, distribution rules, and usage scenarios of NATION tokens are unknown.
However, some netizens found that there are only 168 NATION coins in Balancer's LBP pool, and currently NATION is only traded on Balancer, which seriously lacks liquidity. Therefore, many people believe that the project party is not ready to release, but it was discovered in advance.
In addition, Nation3’s Twitter clearly stated that there will be an airdrop, and buyers will most likely enter the market based on FOMO. The official said that the airdrop snapshot was taken on April 18, and 1956 airdrop addresses have been collected so far, and the specific number of airdrops has not yet been announced. (1956 addresses are quite a lot, will the project party reduce the number of airdrops in order to prevent smashing?)
After observing its social media platform for a while, I found that Nation3 is very popular in the Chinese community, and most of Discord is discussed by Chinese users. Even the Nation3 contract deployer tweeted that the Chinese market stole their tokens.
Some netizens also asked why Nation3 deployed a liquidity pool on Balancer, and 0xGallego replied that it provides liquidity for the project to start.
In general, Nation3, which was born only 10 days ago, has attracted a certain amount of attention and transaction volume with its grand narrative and vision. The country on the cloud may be a large-scale social experiment, an adventurous journey into a new world. Whether Nation3 can truly realize its vision, we still don't know. After all, Web3 will never lack stories, let's wait and see the product landing.
