$W launched fast. People aped. Snipers sniped. $L was born.
What started as a memecoin moment turned into a community lesson.
Here’s a fair breakdown of what happened with $W—pre-coin, the hype, the losses, and how $L became the response.
No slander. Just the story.
Enjoy 👇

1.
$W was a memecoin launched on Base, riding the wave of the Farcaster platform’s rising energy and a fresh rebrand.
It was promoted as a community moment—a chance to lean into vibes, memes, and crypto-native fun.
But the way it launched tells a deeper story.👇

Elevating onchain creators 

@nodefoundation @brightmoments 
@ampsfun

cto @ bwl.gg, 100M+ users (bdut.ch) 🙏 $eggs is life

before heaven and earth there was precoin.fun

4.
@phil  casted early and confidently about $W. His enthusiasm gave the project legitimacy and kicked off a wave of excitement.
People saw it as part of Farcaster’s culture shift—something to participate in, not just speculate on.
https://farcaster.xyz/farcasteradmin.eth/0xcf9ae26f

3. 
Pre-coin is a way to raise ETH before a token launches. Users send ETH to a project in exchange for an allocation of tokens once they go live.
In $W’s case, it felt like a community-backed initiative—casual, memetic, not overly financialized. But real ETH was on the line.

2.
@phil  is a respected voice in the Farcaster ecosystem. When he casts, people listen.
@farcasteradmin.eth  was involved in launching $W, using the @precoin  platform—a tool for raising ETH ahead of a token’s launch.
The pre-coin model helped bootstrap interest, but also set the stage for problems.👇