wake 🎩 on Warpcast

wake 🎩 pfp

good catch! i didn't know this: if you buy a moxie fan token and sell into profit, the profit difference is yours to keep, no vesting required. The vested amount goes back to jail to finish its 180 day lockup.

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Zach Lipp pfp

I didn't realize that caveat. So if I spent 1000 Moxie to buy Sunny's fan token, and then sold it for 1500 Moxie, I get to keep the 500 Moxie and vest it, but the 1000 Moxie that I spent originally goes back to being locked up? Am I understanding this correctly? I suppose I just need to try it, haha.

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wake 🎩 pfp

think of it this way: the vesting contract won't let go anything LESS THAN your airdrop amount early (relative to the vesting period). if your airdrop was 2000 MOXIE and you spent 1000 to buy Sunny's Fan Token, you'd have 1000 left in the contract. It WANTS there to be 2000 and slow drips accordingly. You sell Sunny's Fan Token for 2000, returning 2000 to the vesting contract. Now it's happy as a clam; that 2000 + 1000 you still had vesting puts it well over it's contractual obligation. Now there's 3000 total and you can take 1000 and some change. TLDR: The contract won't let you withdraw more than what it's required to have.

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Lauren McDonagh-Pereira pfp

Lauren McDonagh-Pereira

@lampphotography

Okay. But. What if I buy 10 Sunny tokens, and sell 5 for profit? Do I get the frosting off the five, and the original bid goes back to vesting?

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wake 🎩 pfp

it all goes to vesting. then the contract checks to see if the required amount is there or not. if there's more than the required amount, you can take that. assume your airdrop was 5 moxie. if you buy for 5 and sell for 10, 10 goes back to lockup. if you're only required to have 5 vesting, you can take the surplus 5 to use.

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Lauren McDonagh-Pereira pfp

Lauren McDonagh-Pereira

@lampphotography

Lost again... What determines how much is "required"? So far, I have spent 66411 locked Moxie on fan tokens. Do I have to sell and relock that full 66411 before I am able to realize any liquid gains?

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Zenigame pfp

nope, you just get the difference 1. 100 Moxie airdrop all put into fan tokens 2. Fan Tokens now worth 150. You sell them for Moxie 3. 100 Moxie airdrop still needs to vest. 50 profit is liquid

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Lauren McDonagh-Pereira pfp

Lauren McDonagh-Pereira

@lampphotography

See I get that. My question is. What if sell say half of my fan tokens. Do all 75 Moxie go back to my vested (because I am still sub 100) or do the percentage of that 75 Moxie that represents getting my purchase price back get locked, while the percentage of the profit moxie gets released?

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wake 🎩 pfp

all money earned from selling any number of fan tokens goes to vesting first. No money is ever immediately released.

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Lauren McDonagh-Pereira pfp

Lauren McDonagh-Pereira

@lampphotography

Okay, that makes sense.

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wake 🎩 pfp

Once it gets to vesting, if there's money over and above whatever your airdrop was (less the drip rate), you can claim it like a regular reward. I say "less the drip rate" because you're permitted to take out money over time. So each day there needs to be a little less airdrop to account. Moxie that goes into lockup beyond that amount can be claimed. So although I'm saying "your airdrop" as shorthand, it's really a little less than that original amount each day.

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Lauren McDonagh-Pereira pfp

Lauren McDonagh-Pereira

@lampphotography

Okay, I've got that part and it makes sense. You're explanation jives better with @betashop.eth 's apple analogy

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