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borodutch
@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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Burgtob
@morahl
"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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borodutch
@farcasteradmin.eth
"resulting purchase will be distributed among the precoin holders", i've been saying this in almost every explainer
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Burgtob
@morahl
i can see that but the problem i think lies with how you worded it that statement in itself is like not exact on if its evenly distributed amongst all holders equally or what you buy is distributed in warp back to you at roughly the same ratio or price at purchase of it via pre-coin because what was given context wise was conclusive on what actually occurred sentances like "precoin is a memecoin and a tool; hence the price really doesn't matter; when you swap into a precoin, you're getting a collectible *and* your money worth" that in itself along with the other vague descriptions leads you to believe that its not a 10:1 ratio in terms of actual value or amount of coins
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