skininthegame

perl.xyz is your onchain social arcade, powered by $DEGEN. Join the discussion at /perl

My view on the rise of money games like $DEGEN and @perl in the Warpcast feed:

Most people just want to have fun and make money. The more options we offer, the better for people and progress. Excessive greed is bad and there are evil forces that we should fight, but the vast majority of people are not evil.

It's experimental. Reward:distribution equilibrium takes time to discover and these systems need to be abused by bad actors [in order] to harden them.

Sculpting meets metallurgy.

we stir, grow restless | wake.bsky.social

It's all about incentives AND permissions.

everyone

Once distribution is done and all tokens are circulating, onus will shift from core dev to literally /everyone else/

That's when we'll see the /really/ creative, completely permissionless stuff including highly focused, permissioned applications.

Airdrop noise is loud and distracting and incredibly powerful.

For sure, ending distribution helps.

In the case of $degen w/ existing investors & farmers w/out skin in the game, I don't see how $degen survives airdrop 2 dumping.

@jacek is in a unique position. He can filter out farmers & slightly tweak (permissions for) distributions & thereby add value to Farcaster & $degen!

Really? For all your exposition on degen growth, you can't imagine an erc-20 surviving a sell-off?

You sound over invested 😉

I have exposure, that's why I care 😉 

Unfortunately I'm also not bad at math & checked airdrop 2:

Marked ones are farming/fake & connected to more fraud.
(Sui not marked for pure engagement farming)

3000 accounts get 100.000+ $degen (prob 90% fraud)

Liquidity: 216 Eth

Holders likely not waiting to be dumped on.

I'm not doubting your math. I'm doubting your ✨imagination✨

😀

tbh I can also imagine the strong early crowd to continue supporting & an ultimate turnaround despite a project-threating selloff.

But I'd say it's completely unnecessary to gift $1M+ to value extractors & a growth stopper for now. I'd rather use the value to grow the eco, clean Farcaster up & improve quality!

right oh, I'll bite: let's assume all of this and worse comes to fruition. Actually, let's assume I market dump 300m $degen on Feb 29th, cratering the price.

The project is now dead? Break it down for me, I'm new to this 🙏

I hope not.. but I’m also not sure how much Eth is left for you after I sell.. & how much is left for farmers after you sell 315m.. & for others after 1B+ dump.. & for Nick😂

For real, I’m as optimistic as you about this little memecoin & Farcaster! 🎩

So, why not sort this out, improve & go bigger sooner🙏

I see your point & the cool stuff around Degen aside $Degen price.

I want

- better Farcaster/Degen (no interest in bad projects)

- Degen not to take the path of most crypto projects/memecoins: one-hit wonders fading into irrelevance while value is extracted

Ps: Price is related to product, community, growth, runway

I don't doubt your optimism, either. I am trying to understand your argument, re: token price equals project viability. And I'm gently trolling you because I already know what it is.

Counterpoint: $degen grew /too quickly/ and current problems are because of unmanaged, cancerous growth. We're cutting out tumors now.