Hi, I am shiraazm and I happen to be one of the admins on SYNX. This is my own story about days 1 on this incredible journey. I thought it might be interesting for people to know what it's like to be on the other side of the coin.
Day 1: The growth, the crash and the burn
So I started on the slack group when it was still 60 people. The atmosphere was amazing and everybody was positive. You could see an application of HODL in action and it felt great! Then this slack channel grew and grew and I somehow became a mod during that process. I am really convinced of the HODL movement so I thought it would be a great opportunity to apply what I saw on CHC (I have coins in both communities).
Then the explosion of growth happened. The group started growing exponentially. From 60, we went around to 1,400 people in less than 24 hours and that Slack was lit with different people all supporting HODL and believing in the coin. The growth, in fact, was much more than the coin and it was hard to manage both the coin and the community growth at the same time. Additionally, the slack was only formed less than 24 hours ago that day, so there wasn't really time to organize the community from a structural perspective. Now in hindsight, when I type this, I realize something obviously had to give.
We knew the price was about to be corrected. In my head I was like "I got this, I saw this once or twice on Chain Coin Slack I think I know what to do here". Then the great masternode dump happened. My jaw literally dropped. The SYNX hype was too great and nobody was really managing the hype. More importantly, nobody was managing the growth because we thought that we could shoot beyond the moon with SYNX. Then it dawned on me, HODL is not easy, HODL is hard as hell.
There were two effects happening in the background while the price was dropping. One was controlling the growth of the slack group. The other was the public image. We needed to reorganize ourselves as a group and maintain confidence in the entire slack room. The public image we left because that was not really important at that point in time.
Alot of people were calling SYNX a pump and dump scheme. The truth here is that most of the mods got burnt really bad and were running at a loss. The only ones who survived were probably the ones who got in really early and the technical analysts who probably picked it up. So there was no pump and dump scheme. Honestly, at this point we weren't even worried about that because we knew the truth of the matter. We were backed up against a wall and all we thought about was how to turn this ship around. I was convinced that HODL is something that can never fail. I saw it work on Chain Coin, and if I apply it properly then it can be done anywhere.
Its time for a comeback I continually hope ....
So the first thing we did was recruit new mods. We grew from 8 mods to about 14 - 17 mods. We also had to increase the number of admin roles. Only the most dedicated mods were selected to be Admin. This entire selection process was kind of easy which was a huge relief. The current Admins and Mods are doing great work behind the scenes.
The other thing we concentrated on was removing Fear, Uncertainty and Doubt from the group. This is what you call FUD for short. We actually had a really nasty problem in that many of the mods could not delete messages at that point in time as we were still figuring slack out. This made FUD management really hard because I could see FUD but I could not do anything about it. We even tried bluffing ban notices which worked to a degree.
In the #general channel we tried to keep a united front and establish @zfelds as the leader. During an explosion of members like that it was crucial to identify a leader and then act together. At 60, we knew who the leader was, but at 1400 the growth was too fast to recognize the leader. Once the leader is established, your group can act as one unit easily.
The next part to address was that to gain the trust of the slack channel. There was alot of FUD going around that the mods pump and dumped and ran away from the slack channel. It didn't help that we were disorganized and talked for a bit in our mod channel discussing strategy, leaving general running wild for a few minutes too. This is the hardest and most important thing to accomplish first, because HODL is based on complete trust in your leader and admins. After a while, people in the slack group started realizing that the admins and mods were here to stay, and slowly but surely we gained trust inside the slack group again.
The other thing we preached was that SYNX respects all coins and alternative investment strategies to HODL. This is really important because SYNX HODL is a journey on it's own. Just like you have CHC HODL, you get SYNX HODL and those are two different journeys. We actually think of CHC as our family so we avoid bashing and comparisons. We also felt that the other alt coins were unique in their own right and attracted their own kind of investors. But this is SYNX HODL and this is our own journey.
So now that we thought we had the community sort of under control. It was now time to address the price. I don't really know when the end of day 1 was because I barely got any sleep.
Wow that all looks like alot to read. I think I'll stop there and continue with another edition. Feel free to ask me any questions about SYNX admin-ing or about SYNX day one.