NeverKnower

@neverknower

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3 Followers

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My submission is here - devfolio.co/projects/gm-bc… would be very grateful for your likes 🙌 Would take a rest and then come back to finish it (some design part) and publish to prod. Next week would be amazing for @gmcoin 👀

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GM! ☀️ So it was a very productive week. I've participated in #BaseBatches. I've learned React and Next.js, and Cursor in 1 week, and built an Account Abstraction sign-up from scratch! Finally! 🥳 The deadline was midnight Friday, but USA time, which is 9 AM Saturday for me.. So I went to sleep today at 6 AM 😅 And just woke up. Thanks @buildonbase , it was an amazing journey, love it.

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GM! @warpslot is the first miniapp here I like. Simple, quite fun, doesn’t take a lot of time, user intuitive interface. Nice!

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GM! How I can technically search for all casts contains some specific word for last day? 👀 I should setup my own Farcaster node or something ? Or there is services to do it by API? Somebody knows? 😊

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So, 95+% of cases we would increase difficulty by 30%. But in case of bad circumstances, when people loose interest to a project - we graduatly increasing difficulty, until we're interested to a people again. That's it. That guarantees that project will never die. It can have bad periods, but it would come back anyway! Self-rebalancing system. That's what I like! Cauze GM is here for long-term. And this long-term is longer that you can imagine right now :)

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By default GM is increases difficulty by 30% per epoch. But. GM smart-contract also counts epoch points - that's a sum of all types of "gm" tweets/likes for all GM users. If there is less points in current week, then in previous one, we switch to another mode. In this mode we count the streak - how many points decreasing weeks we have. At 1 week - we don't change minting difficulty at all. 2th week - decrease minting difficulty by 20%. 3th+ week - decrease minting difficulty by 30%. As soon as we got week with more points than previous one - we switch back to default mode with 30% increasing difficulty.

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Yes, that's nothing new, that's inspired by Bitcoin. But instead of 4 years we have 1-week epoch, instead of hardware minters we have GMers - "gm" minters! But, what is we had a mistake? Token price is derived from demand. If price per 1 $GM token would be too low, it can decrease demand a lot. Let's say you can receive 100$ per "gm" tweet, but in half a year you can receive only 0.01$ per tweet. People would loose interest, and that would lead to decreasing demand(and price) more, which leads to people loose interest even more.. well, you got it. Death spiral. Yes, we can try to solve it by incresing number of demand by involving more people into the GM, but at some point of time we would reach limits. Plus market conditions. Plus all other stuff that we cannot control. So, how to solve it from tokenomics side? Well, here we inspired by Ethereum dynamical inflationary/deflationary model.

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GM! @gmcoin mints $GM token for every "gm" tweet. Does it mean that there would be infinity tokens in time? No. Let me explain. We all understand that unlimited supply is bad. It never gives price ability to rise. But if we set hard cap - we interfer to a process of minting and distribution of tokens from the start. And we can do a mistake that breaks all tokenomics and future success of token. What to do then? Produce $GM token for every "gm" tweet, but increase difficulty over time. @gmcoin has epoch system. 1 epoch = 1 week. Every epoch minting difficulty recalculates. By default it increases by 30%. It means that every next epoch you would receive 30% less $GM tokens for the same tweet/like. it also means that at some point of time we will get a situation, where mints less then 1 $GM token per epoch per total. And practically it means that we reached hard cap of token. But what exact number it would be and when it would be - nobody knows (yes, we have some calculations, but it either not guarantee).

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Всім привіт! Хтось шарить як попасти в /base-builds комʼюніті ? 🤔 Щось я не можу цей Farcaster зрозуміти поки 😅

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Good game, bro!

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GM! Arsenal was playing so good tonight, do they able to win UCL this year? 👀

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How do you see the number of views of the post ? 👀

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GM Farcaster! ☀️ Thinking about what mini app I can build for @gmcoin 🤔 Any ideas ?

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Good idea, had similar too. But it would be hard to segment users properly. We need to ask a lot of questions. But it would be great UX. or maybe analyse it somehow through AI 🤔

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Does anybody interested in such a tech content here ? 👀

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here is IPFS link with all processed for yesterday tweets https://bafkreiamqwepeej74gudxcf3aw77fm6jv3iwib6d4unph5julw2ugk53r4.ipfs.w3s.link you can see finalHash there. And if you hash all tweets one by one using this hash algorithm - you should receive the same finalHash. The same finalHash placed in smart-contract - https://basescan.org/tx/0x29d677eef2916e7031ccfe6befa8c3c70dabb90f2917ac914631544aee05af78#eventlog

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last days before launching the liquidity pool I'm checking and wrapping up all technical stuff. Today I finished runningHash. What is it? Well, @gmcoin works on @gelatonetwork. Each day web3function's workers run and search for "gm" tweets from registered smart-contract users. Verify them, and send the result to smart-contract, where we mint $GM. It's all transparent. But the exact tweets that have been scanned are not exposed. Cauze on scale it can cost a lot. Yes, @base is cheap and fast, but anyway I don't like to design things that scale poorly. So, how I solved it? We save tweets on the AWS backend and calculate runningHash. (see img). Then we upload to IPFS and store the final runningHash on smart-contract too So, you can download IPFS file with the list of all processed tweet, and calculate final runningHash by yourself, and it will match the final runningHash on smart-contract. That's how you can verify what tweets have been processed. Full transparency, cauze we're in web3 development 🙌

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GM everybody ☀️ That’s going to be a BIG month 🚀

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I promised myself to buy Apple Watch as soon as I'd launch @gmcoin to @base mainnet. Originally I was expecting it to happen in November-December 2024. It would be smart to get Apple Watch just before snowboarding season 👀 But it took me more time to finish everything and finally launch on mainnet. So, now I have an Watch on my wrist. As an reminder that I did great work and I deserved it. And that's just the start of a great story!

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