Ryan J. Shaw on Warpcast

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https://warpcast.com/~/channel/thecurioushermit

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Gwynne Michele pfp

@thecurioushermit

I am not going to bid on my own Fan Token auction because I don't want to artificially drive up the price. I suspect that most bidders will wait until the last few hours in order to avoid being outbid, which means the first couple days are probably gonna be slow - there's been 2 bids since it launched. Auction ends Tuesday morning, so that's gonna be a fun day. I'm still plotting out what sort of perks I might offer my Fan Token holders. Y'all have only seen the tip of the iceberg in what I've got to offer as far as humorous, insightful, and transformational content. Definitely will be sending some of my monthly degen claims to both the fan token holders (by swapping it for moxie and do a buy/burn to increase token value) and also some to the hypersub rewards pool. Cuz Together We Rise and if I can use my chronically online habitual social poster habits to make it profitable for all of us, I'm gonna do so joyously!

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Edward H. Carpenter pfp

Edward H. Carpenter

I'm curious to know if there's a way to tell when/if Fan Token accounts/channels have "bid up" their own prices... it was something that I saw early on as a potential "hack" to the process. I take it that, based on this post, it is in fact possible to do so.

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Gwynne Michele pfp

@thecurioushermit

I would suspect it's possible to know who, what with smart contracts and wallet address being public. I think it's @rjs who started working on Dune dashboards to track who was doing what with Moxie and Fan Tokens, especially the bigger players. I've seen some people explicitly mention they were going to bid on their own tokens, which to each their own, but personally, that doesn't fit within my boundaries for engaging with crypto and currency in general. Of course, I want profit, I want sustainable income, but not at artificially inflated rates that are bound to collapse if they're pumped too high too soon. I'm a prolific caster - social media has been my jam for decades now - so my Fan Token holders will definitely benefit from holding them, but not if the price is jacked up by speculation and rugged after auction close.

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Ryan J. Shaw pfp

I didn't bid on my own because it seems like that would just increase the price and reduce the number of buyers, and the only way for me to profit is to sell, which would reduce the value of people who bought the tokens so... Not seeing much reason to buy my own yet. And yeah I definitely have plans to do some "trader analytics" features on my webapp in a few weeks!

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Edward H. Carpenter

My understanding is that holders would get 20% of the returns on a Fan Token [base user's] $moxie - i.e. that if the Base User generated X,000 $moxie in a given period, they would retain 80% (instead of the 100% they'd retain if they never had a Fan Token) and the other 20% would be distributed on a "percentage of Fan Tokens held" basis to the current holders - which would mean that a "slow and steady" profit over time (if a Base User/Fan Token generator did well) for those who hold rather than a short term "appreciation-based" profit for those who sell when a Fan Token's price rises... But perhaps I'm wrong? Can @betashop.eth or anyone else shed light on this question?

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Ryan J. Shaw pfp

Yes you're correct and that's one incentive for *other people* to buy & hold FTs (other potential incentives: access to channels, services, etc.). My comment, however, was referring to whether the *subject* of the Fan Token should buy their own FT e.g. should I buy my own.

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Edward H. Carpenter

Ahh, sorry... I misunderstood. Given those parameters, I think the only "advantage" would be in the auction. If the "owner" created an artificial "clearing price" (say, 5x current minimum bid) that COULD raise the average bids, but it would be dependent on whether the token was "oversold" and how much fans wanted it... just my educated wish.

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Ryan J. Shaw pfp

Yeah but how would it benefit the subject of the FT (that's the term they use, BTW, not owner)? The auction proceeds don't go to the subject - they go into the FT bonding curve...

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Gwynne Michele pfp

@thecurioushermit

I don't think there's a direct profit benefit to the subject of the FT, but instead, I suspect they're imagining that the investment the fan makes in the subject of the FT will cause them to engage even more with the creator - if I'm invested in someone, I want to see them succeed so I can profit, too, so I'm more likely to engage with their content to get others to see it, and boost profits overall. So theoretically, it can drive higher profits overall for the creator. It remains to be seen if that plays out that way. My auction just started today, but I can't imagine those 2.5% fees add up to all that much right away.

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Edward H. Carpenter

Interesting... I did not know that! That would definitely eliminate my previous hypothesis... so, I have no rational basis to explain "subject-bidding-behavior" - unless it allows them to airdrop any FTs which they "win" to fans/friends at a later date? Or to sell if their FT moons in the future? 🤔

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