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Coop
@coopahtroopa.eth
So my Fan Tokens go live in 1d - I'm cool with it but interesting that the auction just kinda happens without my consent or knowledge of when it's starting? Also don't fully understand how it works or how to think about the pricing of it. Any good resources on Fan Token auctions and if I should participate? Or what a realistic price/market value for these is?
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MOฮ
@moe
How is everyone ok with letting users buy/sell/speculate on fan tokens without the approval/consent of the profile owner? That crosses a line. Isnโt that what bitclout did? But everyone is ok with it if itโs fc native I guess.
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Jason Goldberg โ๏ธ ๐
@betashop.eth
A few points: 1. We have launched 240 Fan Token Auctions to-date 2. 5000+ people explicitly requested Fan Tokens 3. <10% of the 240 have been for "celebrity" accounts with massive followings who did not explicitly request a Fan Token. Nearly all of them (@coopahtroopa.eth included) tho explicitly applied for the Moxie Builders Program via Frame a month ago, clicked "consent" to participate in Moxie at launch, & received an airdrop on avg 5x greater than avg non builder. Exceptions are folks like Brian Armstrong and Balajis or with 200k+ followers 4. Coop in this case also casted about his excitement for Moxie, DC'd me, & casted about his upcoming auction 5. Moxie is giving away free money to everyone Farcaster based on their engagements. The Fan Tokens allow everyone else to participate in their success. 6. A total of 3 people have DC'd me asking to opt-out. And we did for all of them. 7. It will be 100% self-service and 100% opt-in in a few days 8. Bitclout got in trouble for being a fraud
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MOฮ
@moe
ok so you're allowing people to trade fan tokens for people like vitalik without his consent. that's an ethical grey area and for me personally crosses the line. this is exactly what bitclout did was was strongly criticized and called out for way before they committed fraud. the fact that the majority of fan tokens are approved by the owners is irrelevant. if there's 1 fan token that is launched without approval (like vitalik's) then that taints the whole protocol.
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Jason Goldberg โ๏ธ ๐
@betashop.eth
Fan Tokens enable people to support each other and to participate in their success, and access special features that dozens of development teams are building -- which any Fan Token subject can optionally provide to their Fans The Fan bonding curves are logarithmic with an 80% reserve and not designed for speculation; buy Fan Tokens to support the people you admire and get access to special features they can optionally provide as I said, we did this for like 20 celebrities on the platform and everyone else will be self-initiated by the user Do you think we need Kamala or Trumps or Taylor's permission to launch Fan Tokens for them? For Steph or Lebron?
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Jason Goldberg โ๏ธ ๐
@betashop.eth
And as I said, anyone who messaged me who said I want out of this, we immediately removed Balajis asked me if he had any obligation to do anything for his fans. I said no. And we left it at that. We have been very fair
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MOฮ
@moe
"Do you think we need Kamala or Trumps or Taylor's permission to launch Fan Tokens for them? For Steph or Lebron?" yes, we do need their permission imo. an opt out policy is not good enough for this, specially when the protocol benefits from activity on those tokens.
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