reply guys

why would anyone want to buy something where private presale holders are sitting on EIGHTY THOUSAND DOLLARS worth of a coin that they can dump immediately? $fair coded

private presale for “friends” only before announcing publicly? this is embarrassing behaviour and exactly the type of extractive CT nonsense that many on farcaster claim to be above.

writing about products & protocols on Farcaster | prev. Juicebox, Nouns, RAW DAO | casting about coffee, hi-fi, and other rabbit holes

taking the other side here. private rounds are common across venture markets, they are not inherently bad, and if a builder is trying to have more control over cap table construction then it is actively necessary

imo the issue here is lack of vesting/lockup, and the distribution math could've been better, and the naming feels a bit ironic, but not the inherent existence of a private presale. 

[disc: was invited but did not participate bc forgot to reply, and don't currently own any $FAIR]

oh yeah you’re right, probably just a skill issue on my part

you didn’t, toady did

resent the framing but whatever, happy for those who will be able to book some profit

Farcaster-native research: https://paragraph.xyz/@matthewb | prev. Juicebox, Nouns, RAW DAO | casting about coffee, hi-fi, and other rabbit holes

I think “skill issue” is a pretty common sarcastic meme in this space meaning somrhing akin to “sucks to be us”, sorry for any confusion there. I did also point out the inherent irony of launching a token called $FAIR and not expecting extra scrutiny on the initial distribution.

correction: toady clarified his position, my reading was uncharitable

correction: toady clarified his position, my reading was uncharitable

https://farcaster.xyz/toadyhawk.eth/0x5ce65021