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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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Rch
@rch
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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