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Danica Swanson
@danicaswanson
Moxiesplaining Journal Day 15: Fan Token Auction Reflections My Fan Token auction happened in the first week after Moxie launched. Several early bidders + friends got priced out by flippers. This was just before Airstack made an adjustment that altered the immediate post-auction arb opportunity. Looking at the cost basis vs. current value for the tokens from my own auction that were auto-allocated to me, I see how the daily buy-and-burn gradually narrowed the difference between those figures. (See image - top is from Aug. 6, bottom is Sep. 15). So as of this week I'm no longer in the red on my own token. By earning Everyday Rewards, I "worked my way back up." I'd like my priced-out friends to become holders of my Fan Token too, but the price is much higher now. I could buy my own token and gift it to them. But would that be a positive-sum outcome? 🤔 ----- (Moxiesplaining Journal is a daily window into my observations, learnings, and the view of Moxie from where I sit as a writer + editor).
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Callum Wanderloots ✨
@wanderloots.eth
Can you explain the red portion’s significance? Are you saying that it’s based on how much you initially put into your token?
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Danica Swanson
@danicaswanson
I didn't buy any of my own Fan Tokens. My holdings of my own token are only those that got auto-allocated to me by the auction mechanism at the close of the auction. As far as I understand it, the big red portion means flippers took advantage of an exploit that was only possible during the first week (before Airstack made changes that reduced the arb opportunity). The flippers bought a lot of tokens and then dumped them right out of the gate. So that's how some of my friends got priced out. (If there are others reading this who can explain what happened more clearly, by all means, please chime in! I'm still trying to wrap my head around it. I'm learning-in-public here).
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