@atareh

incentives matter and design dictates destiny this drives the core decisions we make at fey take for example, founders in crypto - majority don’t have a good reputation and are known for being extractive, why? whether it was the nft founders in 2021, or launchpad founders in recent years, what few realize is that the initial designs of what they built and how they raised money dictated their destiny because the incentives were misaligned nft founders were paid millions upfront after a mint out plus recurring 5% royalty on all volume, and launchpad founders took 1% fees on all volume funnelled through their launchpad in other words: the incentives for them to be rewarded was to maximize hype in the short term and funnel as much volume as possible through their vehicle (nfts, launchpad) they would get an outsized reward, and when the wheels would inevitably fall off and volume dries up, and holders complain - they could say “well we tried but the market doesn’t care about NFTs/launchpads/{insert product here} anymore” - and thus begin the slow rug. fewer updates, less enthusiasm, less drive - because the team has already extracted millions, all based on the design decisions and incentives design dictates destiny this gets us to fey. we could have easily chosen to take some fee on volume - nobody would fault us for it. team needs to get paid, fund operations, and founders should be rewarded but that design decision would skew the natural incentives towards becoming lazy crypt founders - after all, hype and volume is easy to attract and with that comes millions in an extractive mode we didn’t do that for a reason - instead we chose to buy our own token with our own money, and we would win if and only if we are successful in creating a burgeoning ecosystem on fey this design decision makes it so that, in the short and medium term, we as a team don’t make much. that’s actually good, because it keeps the hunger and the drive alive. we only win if fey becomes massive, and so, there is no other option. we will continue working and continue iterating and keep shipping, until our runway (personal money, we’re good for a while) runs out. and if after all that, fey didn’t take off, well we can rest easy knowing we poured our hearts and souls into this and we can move forward to the next thing with a free conscience. but if we win? then we’ll have done something that impacts our industry in a big way, proving that purely extractive economics isn’t the way to build long term value, and serve as an example to all those building after us, that it is possible to win together in crypto, and not at the expense of others and that’s a future that excites me, and we’re not one for quitting easily, and every time ive bet on myself in my life, ive become greater for it so that’s wha you’re really betting on when you come to build on fey: founders with the most aligned incentives to stick around and really make this work so what will you bet on? fey mode is just getting started ✳️

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