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baubergo
@baubergo-
Now everyone suddenly understands moxie and loves it 😏 I'm glad that I was super early with my pal @maretus.eth during the beta-testing of everything in season 5 of degen. It's funny to see the complete turnaround from the "opposition” that doomed SCV, @openrank and everything else. Just a few days ago, they were vocal critics, and now they're quietly bidding on our fan tokens 😂
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@baseddesigner.eth
It's too early to tell, I'd expect a drop in a week or two once most auctions settle
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@baseddesigner.eth
Since there's no point for holding most of the fan tokens with those prices as you'd need to wait for a year to get that moxie back and caster should be active all this time
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baubergo
@baubergo-
You're forgetting the “safety net” effect of the buy/burn Fan tokens from rewards to prevent a sell pressure and actually help make the tokens get higher and higher daily.
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@baseddesigner.eth
how much of it gets burned?
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baubergo
@baubergo-
Quick explanation: Let's say I make 10k moxie in daily rewards. My fan token will get 20% of it (2k Moxie) and will automatically buy 2k baubergo fan tokens. Now if I am a channel or the Farcaster Network it is 100% instead. So Farcaster Network has a daily average of 300/400k moxie and 100% of it is going to buy more of its fan tokens. Making the price go higher or at least amortizing the sell pressure.
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