borodutch on Farcaster

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https://warpcast.com/~/channel/borodutch

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@farcasteradmin.eth

hi all 👋 today, the first lp migration happened for precoin->clanker launch with @phil’s $w coin, here’s a quick retro: we built precoin because we wanted to use a tool/have an easier way to create some type of prediction market where users can buy into a coin’s launch before it launches we tested it out for the first time in the wild today with $w - the migration of $pre_phil lp to $w happened before clanker replied and we were the 13th transaction, and on the 4th block, 7 seconds after token was deployed - to dogfood the first launch i had a $45,000 stake (largest out of any farcaster users by far) in $pre_phil that became a $3.8k stake in $w and many people experienced the same and are wondering why - first, the migration from precoin->coin was never meant to be 1:1 (this was clearly communicated); the lp in the precoin pool is used to market buy $w after it launches, and users were going to be able to claim a proportional stake in the clanker coin 👇

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@farcasteradmin.eth

- meaning that if you owned 10% of $pre_phil you can now swap it for the 10% of whatever $w precoin system market-bought (7.5B $w total) - as some people were warning the project’s chat, this got giga sniped even though we were very early in buying $w; these people were unfortunately correct - some people are accusing us of sniping $w, and, no, this was not us; we would not do that, nor would our reputations be worth doing this for like $30k profit - the real villains in this story are the snipers; and our main goal in the future is to combat them i do agree this launch could have gone better, and the criticism is valid; and here’re the steps we’re taking for the future: - we will rework how precoin works to make it more fair towards all future precoin holders - we will try to Integrate and work closer with the clanker team on potential anti sniping measures - we discuss changing precoins from erc20 tokens to simple eth vaults or similar mechanisms to provide a linear distribution to precoiners 👇

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Rasel🕳️🎩

Congratulations to all the snipers🤞

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Ace pfp

I lost money too but learned something - we'd be lying if we didn't know what risk came with playing with experiments. unexpected things happen, and I know y'all will keep launching refreshing onchain products, so keep it up! sending love and respect.

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Burgtob pfp

"this was clearly communicated" i checked the majority of your posts regarding the ratio and nothing was mentioned... if i missed one please show me :)

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Mikado pfp

Thank you for the transparency. This is gud tek and it's totally understandable what happened. You know if I'm ever rugged I prefer to be rugged by you anyway 😜💜

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@joshisdead.eth

Mistakes and explanations are valid. See you onto the next pre-launch! Bidded all of 'em and let's see who's gonna clank soon 👀

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demang pfp

Thank you for your explanation sir, I'm now understand, you have good intentions and goals, keep trying your best sir 🫶

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Nick Taran pfp

Well, I still enjoyed the game. Let's see what happens next and where the lessons learned take us 🙂 I like the project and looking for updates

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@thebestpizza.eth

this could have been avoided by proving that the precoin snipe was better than any other sniper in the market, but this would not have been 100% as it was a highly anticipated launch which came with a lot of liquidity ready to be extracted by the first sniper - a lot of trust on a tech that is yet to prove itself lots to learn from it and hopefully next time will be better

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Rch pfp

thank you for sharing. I won’t deny it was disappointing. building something new is hard. building something new in crypto is harder as when things break people lose money. in hindsight one thing that could have been done better is highlight the risks involved and things that could have gone wrong. The idea itself is very cool and I look forward to future iterations. all the best

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Peterpandam pfp

lol, to zero with haste

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Zerakxajika pfp

Well only spent 2$ here so its basically just testing stuff

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@broekaselalujp

It's not failure, It's field testing for our next big win

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Genius Creative

@geniuscreative

What about people that have in external wallet different from Farcaster wallet?

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You’re an absolute joke. Show us where you told over 250 people in the “alpha chat” that they’d receive only 10% of their presale value. You hype a “$45K stake” but that wasn’t your investment value, and you know it. You and @phil are now blacklisted. Anyone on Farcaster with sense will never trust a project tied to your names ever again. What you ran wasn’t a launch - it was a fee-farming operation disguised as community building. You: 1. Extracted liquidity from believers 2. Gave no clear breakdowns of expected swap %'s 3. Made the entire presale participants vulnerable to snipers with a non-stealth launch That’s not just mismanagement it's deception. You should feel ashamed. And if you’re not, you’ve made it clear: you're not here to build, you’re here to drain the Farcaster community

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@karsaorlongdong

And you robbed us all!!!!! You drained me of 2000 dollars , thanks loads.

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@karsaorlongdong

It’s a Load of shit , PLEASE EVERYONE IGNORE THIS CHARLATAN, you will lose al your money

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Meta Salary pfp

Man! I never thought you would be scamming us! Wouldn’t be worth a risk… As I mention before, this is such a great idea but didn’t went well. But just didn’t went well because you’ve tried and that’s the way.. most of people saying bs in the chat are the ones who are always waiting for the others to come up with something but can’t accept a loss! Count on me for the future, still strong here!

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g2jits.base.eth

Won’t ever do this BS again!

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