Neural Network Tavern 🤖

This is a follow up thread to my cast earlier today…

Why I don’t think it’s the best strategy to be selling a majority of your Moxie Earnings. These are just my thoughts and NFA. I won’t be able to express everything in this cast. 

A 🧵 I’m sure I’ll mess this up

Please try to read all the way through

1-8

Im a bit of a degen, but also a chad.
Base Maxi




5-8
-The Fan Token mechanisms are unique. The combination of an initial auction for fair and evenly distributed pricing, a logarithmic bonding curve, with aggressive built in buy and burn mechanisms provides a system with asymmetric risk-reward on the Moxie value of the fan tokens. In other words, if you buy at auction, you are much more likely to gain underlying Moxie than lose it. With the aggressive buy and burns, there is a built in “price floor.” There is more moxie locked than claims against it from fan tokens. There will always be exit liquidity, essentially un-ruggable. This is why I had no hesitation to lock large quantities at the start of a bull run. This is all of course, independent of the underlying Moxie price itself. There is risk there, but again, I think it’s asymmetric.

I have a lot of interest in 'Moxie' because of this function,
I actually made a big investment of my own.
I agree with you!

Some important Fan Token Dynamics you may not know about.
I want to talk about the bonding curve and what downside you have in fan tokens.
When an auction ends a large portion of the auction spent moxie is put into the bonding curve.
This moxie is the immediate reserve for withdrawals (ie sells).  So even at day 1 you wouldnt get a total loss as the last man out - but you would see a severe discount.
What is ingenious is that as time passes this floor reserve for the last man out ratchets higher.
The moxie used for the buy and burn buys the fan tokens and burns the token so supply isnt affected (only price). This moxie stacks on the reserve within the bonding curve.
As more and more moxie is stacked into the reserve the higher the floor becomes on the fan token upon exit.
This is why I was wrong to be so worried about a negative out regarding channels.  Even in a doom scenario of them ceasing to exist - it isnt a lose everything situation.

This cast from @mr-silverback goes into more detail about it.

/farcasterland https://inner-work.xyz & Normie Onboarder https://maven.com/onchain/blockchain-for-beginners

This cast from @mr-silverback goes into more detail about it. 

https://warpcast.com/mr-silverback/0x96d554c6

"There is more moxie locked than claims against it from fan tokens" - where can I see that? do you know/think that this is by intentional design or an unintended secondary effect?