jason (w/acc)
@jasonkim.eth
Introducing precoin.fun — a premarket for creator memecoins. Excited to launch our latest Farcaster mini app on Base! @precoin lets anyone mint a "precoin" — a tradable ERC-20 memecoin representing early belief in a creator's potential to launch a real coin. A permissionless speculation market on social clout. Each precoin has its own liquidity pool and trades freely. If the creator later launches (e.g. on clanker), the ETH from the precoin pool buys the official coin onchain — and users can burn their precoin to claim the real coin. Anyone can scout and launch a precoin for any caster. Scouting = being the first $1000+ ETH into the LP. Scouts earn 10% of all trading fees on that precoin which can be burned to claim real coin if creator launches one. We’re testing 5 casters today: @ace @horsefacts.eth, @proxystudio.eth @igoryuzo.eth and will be expanding to every Farcaster user soon.
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Ace
@ace
got some @proxystudio.eth precoin!
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Alexey 🎩🐲🐹
@skrim
So it turns out that if @proxystudio.eth launches his token, our precoin exchanges 1k1? how does the exchange happen @jasonkim.eth?
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jason (w/acc)
@jasonkim.eth
If @proxystudio.eth launches a clanker, the ETH in the LP is used to market buy his new clanker coin as soon as he launches, and then the proportional amount will be distributed back to precoin holders through burn & claim mechanism
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Alexey 🎩🐲🐹
@skrim
accrual will be automatically to the wallet or do I need to claim it in the frame?
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jason (w/acc)
@jasonkim.eth
claim in frame
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