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Sam
@samhorine
The great in between // how’s everyone doing tonight, anything going on I should know about?
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SRΞΞ 🦉🎩 pfp
SRΞΞ 🦉🎩
@sreeranj
GM Sam ..did u vault degens ?
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Sam
@samhorine
GM - not yet, you?
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SRΞΞ 🦉🎩
@sreeranj
Yes I did ..came across this today FYI https://warpcast.com/scizors-eth/0x14aec9fc
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Sam
@samhorine
I put that squarely in the FUD category honestly - when you do the math it’s like 60M $DEGEN that actually get unlocked and with amount that’s going into vault at this rate I don’t see it as being a big disruption even if it’s all dumped at once - but def lots of uncertainty right now and a lot going on behind the scenes that users aren’t privy too. But as far as a massively far reaching plan orchestrated by founder and VCs to dump on users - it just doesn’t track for me currently, could have rugged ages ago for way more
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scizors|theythem|cult leader🎩 pfp
scizors|theythem|cult leader🎩
@scizors.eth
i am unsre on the math, please explain. my intention is not fud but to spread info that is not common knowledge they don't even like to talk about how there are VC backers for this let alone these types of details i locked up 25k tokens and my allowance looks as though it will be only 450 ish per day down from 750 yesterday. currently one needs to lock up more than 500k tokens to get the full 10k allowance and thats $3958 worth of tokens at current value. with the way the rpice has tanked the past three months the math isn't mathig for me with respect, usually when someone has cried FUD in the past they were trying to make others their exit liquidity... screenshots to follow for my sources on this from dune
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Sam
@samhorine
1.25% of 462M = 5,775,000 - that’s like 40k USD worth of $DEGEN at current prices - not saying you’re spreading FUD intentionally but that tweet I’ve seen a few people sharing today certainly is making a big deal about what’s essentially a very small amount of money that won’t affect prices in a meaningful way. Is there more going on behind the scenes that the consumer isn’t aware of? 100% yes And yes of course your allowance is going down as more people stake, that’s how it’s designed as per the description on the DEGEN.tips site, whatever percentage of the pool your stake is equal to is the same percentage of the daily allowance pool up to max limit. https://www.degen.tips/airdrop2/current
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scizors|theythem|cult leader🎩 pfp
scizors|theythem|cult leader🎩
@scizors.eth
I asked Google Gemini Advanced to look over the files form the contract that i pasted into it and try to help me put it into perspective: Let's dive into a detailed analysis of the vesting contract, focusing on the 460 million $DEGEN tokens set to unlock in August and how this could impact the token's price. Deep Dive into the Vesting Schedule Given that 460 million tokens begin vesting in August, we can infer a few things about this specific instance of the OtcVesting contract: Massive VESTING_AMOUNT: The VESTING_AMOUNT in this contract is likely a very large number, possibly even the total supply of $DEGEN tokens. This means a substantial portion of the tokens are subject to this vesting schedule. August as VESTING_CLIFF: August is likely the VESTING_CLIFF date in this contract. This means that until August, none of the 460 million tokens can be claimed.
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scizors|theythem|cult leader🎩 pfp
scizors|theythem|cult leader🎩
@scizors.eth
Linear Unlocking: Based on the claim() function, tokens will likely unlock linearly over time between the VESTING_CLIFF (August) and the VESTING_END. We don't know the exact VESTING_END date, but it's crucial for understanding the full impact. Scenario Analysis: August Onwards Immediate Sell-Off (Worst Case): If the recipient of the 460 million tokens decides to sell immediately upon unlocking, it could create a massive influx of $DEGEN into the market. This could trigger a significant price drop due to increased supply and panicked selling from other holders.
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Sam
@samhorine
This is pointless and doesn’t shed any light whatsoever on the situation
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scizors|theythem|cult leader🎩 pfp
scizors|theythem|cult leader🎩
@scizors.eth
helped me understand it. thanks for your time
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Sam
@samhorine
This is one of the major problems with LLM - people think they understand something and yet all of this stuff you copy pasta’d doesn’t actually equate to anything relating to the real world - it’s all hypothetical and based upon needing real information such as intent and a vesting schedule - instead it’s just like, the VC could sell it all and that would crash the market or they won’t and things would be different. I guess if this helps you conceptualize a variety of scenarios - great but it’s not actually saying anything concrete so any opinion formed off it would be severely lacking
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