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Jason Goldberg Ⓜ️ 💜
@betashop.eth
in a couple days we'll release the schedule for the initial Farcaster Fan Token Auctions using Ⓜ️oxie protocol! In this cast I explain some of the how, what and why on Moxie Fan Token Auctions👇 Auctions will take place in frames on Warpcast The entire schedule will be posted on airstack.xyz The number of Fan Tokens available at auction = 10% of the Member / Channel's followers Any Farcaster Member with a Moxie Pass can bid Bid using Ⓜ️oxiedrop tokens or any $MOXIE acquired from exchanges Everyone whose bids clear get the Fan Tokens at the same price; the auctions enable fair & efficient price discovery 90% of proceeds go into a bonding curve to ensure continuous liquidity. The bonding curves are logarithmic favoring utility vs. pure speculation 5% goes the Member / Channel owner in the form of their own Fan Tokens 5% are protocol as fees, burned We'll start w a curated schedule. Soon anyone can schedule their own auctions The screenshot below is direction, not the actual schedule
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👑eiteen go<3👒
@eiteengo
I have one very important question. In Dan's AMA yesterday, he said that even if reactions accumulate in the Farcaster storage, there is no need to update it, but in Moxie, even if past reactions are deleted, will this have any effect on my points or the points of the person who gave me a reaction? https://warpcast.com/dwr.eth/0x68973d70
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Jason Goldberg Ⓜ️ 💜
@betashop.eth
we're taking care for this 1. We're making sure that reactions expiring because of storage pruning don't subtract from Cast Scores 2. We're looking at creative ways for Fan Token holders to earn more storage :) Ⓜ️ 💜
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👑eiteen go<3👒
@eiteengo
Thank you so much. We were just discussing this in our community, but would it be correct to understand that as long as the number of reactions is not reduced by about one month, there won't be any impact? Because we need some kind of guideline.
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Jason Goldberg Ⓜ️ 💜
@betashop.eth
1. We're making sure that reactions expiring because of storage pruning don't subtract from Cast Scores
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👑eiteen go<3👒
@eiteengo
I totally get it! Thank you so much because I wanted to figure it out so I could explain it to others.
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