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Goat Trading
@goattrading
Muse coins start as a simple Cast. The dreamer tweets the description, requirements, potential, and token utility at @musebot of a product they’ve been thinking about but don’t have the time, expertise, or resources to act upon. For example: hey @musebot let's build an idea Name: Token Name Symbol: Token Symbol Dreamer: Your Base address Description: Description of product Specifications: Specific build requirements Long-term Potential: Future vision Token Utility: Token's role in the product You may also leave out details and type a simple description, but make sure it's detailed enough that traders can be confident it'll be made!
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Goat Trading
@goattrading
3/ This idea is launched into our Only Up PvE market mechanism on http://muse.markets. Degens begin trading this idea. As trading continues, dex fees gather into a pot. This trading signals to a dev that this idea is worth their time, and the pot acts as guaranteed compensation for building. A dev will apply, the community of tokenholders approves them to build, the dev builds and submits a finished product, the community of tokenholders approves the final product. Once an idea has been built and the community agrees all requirements were met, the token graduates out of its OU phase and traditional trading begins. The builder is given the fees in the pot, they’re assigned to gain ongoing trading fees of the token, they’re given 2% of total supply, and the dreamer is given 0.5% of the total supply.
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Goat Trading
@goattrading
4/ We want Muse to bring the tech focus back to crypto. By clearing the roadblocks to innovation and creating markets that eliminate major speculation, we not only encourage the creation of new technology but also ensure that technology is judged based on its chances of success rather than how much hype it can generate. Eliminating speculation in the very earliest stages of a project is a crucial element of Muse coins. Tokens supporting a protocol can be very helpful. They help gain awareness of your project; gain a community that’s incentivized to make your project successful; and gain funding through selling or trading fees. But it’s very risky.
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Goat Trading
@goattrading
5/ Public markets as they function today simply aren’t designed to deal with such speculative assets: the incentive for investors is to follow hype, and it’s impossible to maintain hype permanently. If your launch is fairly quiet, any potential community will rotate to the next thing. If it’s a major success, there’s not much more room to succeed and downturns lead to rotation of investors and illusions that your product isn’t valuable.
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Goat Trading
@goattrading
6/ We’ve created the OU mechanism to deal with this. When a token is in the OU phase, buys and sells do not affect the price of the token: it’s only affected by trading fees that slightly raise the token price with every trade. OU is a simple system at its core but places incentives in all the right places to create a market where there are no snipers and no scammers, traders are encouraged to hold and are rewarded more the longer they hold, and a community has a chance to come together and build with no worry that price will ever go below where they purchased.
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Goat Trading
@goattrading
7/ It gains funds for the creator through trading fees on each trade, and rewards them with tokens once graduation occurs. It cannot be used to gain large amounts of funding and tokens, but sizable funding is rarely needed these days to bring something into the world. If users buy in the OU phase they face a maximum risk of 13% loss from fees on a buy and sell including dex fees. There is always 100% liquidity for them to sell. There are no snipers, scammers, or insiders that can do the user buying in the initial phase any harm. The longer they hold while trading occurs, the more they gain.
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Goat Trading
@goattrading
8/ So where does a Muse coin stand after initial tokenization, the Only Up phase, successful building, and launch? There’s a legitimate product live and the token is tradeable as we’re used to. There’s a community around the product who have stuck by it since it was just an idea. They’re invested and want to do what they can to help it succeed. There’s a developer who has received cash and tokens for building, and will continue to receive ongoing trading fees if they stick with the project. From there on out it’s up to the product to win.
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