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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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pizza.base.eth
@thebestpizza.eth
this could have been avoided by proving that the precoin snipe was better than any other sniper in the market, but this would not have been 100% as it was a highly anticipated launch which came with a lot of liquidity ready to be extracted by the first sniper - a lot of trust on a tech that is yet to prove itself lots to learn from it and hopefully next time will be better
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