Mav3rik
@mav3rik
Introducing weth.fun: Launch a coin that is instantly tradeable without having to seed liquidity Pick a name, ticker, JPG & instantly begin trading on a bonding curve Coming Soon to @ethereum Keep reading to learn why it will forever change how coins launch🧵
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Mav3rik
@mav3rik
Currently, new launches work in 1 of 2 ways: 1) Coin is deployed, minting authority is renounced, liquidity is seeded on a DEX like @uniswap & LP token is locked/burned 2) Same process but w/ a presale: ETH is sent to random address for nothing in return (at least initially)
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Mav3rik
@mav3rik
What's wrong with this? a) It costs at least a couple thousand to seed a pool with decent liquidity on launch b) Set-up fees are extortionate (1-3 ETH) c) The entire process is needlessly complicated
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Mav3rik
@mav3rik
It's equally bad for everyone else d) Extremely easy to rug a pre-sale when people send ETH to a random wallet e) Need sophisticated tools on hand to quickly detect renouncing of mint authority, LP token burn, token distribution, etc. f) and many more
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Mav3rik
@mav3rik
How are these solved? 1. Pick name, ticker, JPG 2. Token begins trading on a bonding curve which replicates standard xyk 3. When mcap = $69k, all the bonding curve liquidity is used to seed a liquidity pool on @uniswap. The LP creation and LP token burn happen automatically
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Mav3rik
@mav3rik
To recap: - Takes less than a minute to launch a coin - 100x less fees and no need to seed liquidity - Impossible for dev to rug; far easier to trust - Every launch is a fair launch Instead of worrying, let's make money and have fun with frens
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