Coffee ☕️
@coffeexcoin
Base Posts So: after reviewing the onchain actions associated with the first post I made it seems like all of the following take place: - Create a farcaster post - Deploy a new ERC-20 associated with the post - Create a uniswap pool for the token - Mint token to the poster - Mint token to the uni pool Total gas cost for the post was about six cents, albeit sponsored by paymaster. My initial thoughts on this: 1. Why? Overall it seems absolutely bonkers to create an ERC20 and LP for every single social post. What is the overall benefit of this? Who is planning on buying/trading the average post? 2. The impact on base's chain state from this is potentially enormous - the chain already has an incredible state growth rate and this is just going to accelerate it. 3. What's the endgame here? Millions of worthless ERC20s on base, linked to social posts long forgotten.
1 reply
0 recast
3 reactions
Brooke
@brookejlacey.base.eth
I’m glad it’s now verified by you because I feel like I came off as fudding
0 reply
0 recast
0 reaction
