@
0 reply
0 recast
0 reaction

darkin.eth ◼️ pfp
darkin.eth ◼️
@darkin.eth
Currently, new launches work in 1 of 2 ways: 1) Coin is deployed, minting authority is renounced, liquidity is seeded on a DEX like @uniswap & LP token is locked/burned 2) Same process but w/ a presale: ETH is sent to random address for nothing in return (at least initially)
0 reply
0 recast
0 reaction

darkin.eth ◼️ pfp
darkin.eth ◼️
@darkin.eth
What's wrong with this? a) It costs at least a couple thousand to seed a pool with decent liquidity on launch b) Set-up fees are extortionate (1-3 ETH) c) The entire process is needlessly complicated
0 reply
0 recast
0 reaction

darkin.eth ◼️ pfp
darkin.eth ◼️
@darkin.eth
It's equally bad for everyone else d) Extremely easy to rug a pre-sale when people send ETH to a random wallet e) Need sophisticated tools on hand to quickly detect renouncing of mint authority, LP token burn, token distribution, etc. f) and many more
0 reply
0 recast
0 reaction