Author: Andrew M. K. Nassief
Date: 6/2/2021
Version: 1.0
@Creator puts $1000 into minting new @Project Coins
@Creator increases the FR in their @Creator coin to 50% for 24 hour period
@Creator tracks who buys @Creator coin for the next 24 hours
@Creator uses FR to buy more @Project Coins
@Creator opens up @Project Coins for public users to buy
@Creator waits 3 days before distributing @Project Coins to early buyers
On Distribution day @Creator lowers @Project Coin FR to 0% for 24 hours
The typical @Creator coin FR is 10%
@Project coin FR is 100% to be closed for buying
Typical @Project coin FR is 10%
This is an anti-dumping mechanism for creators who work on projects on the BitClout platform. Its usecase is experimental. Basically, for those who want to admit early buyers but discourage dumping, here is what I would recommend:
- You first put $1k worth of BitClout into your new project coin for minting
- You increase the FR in your personal creator coin for 24 hours to 50% and explain that people who get your creator coin in the next 24 hours are also early buyers in your project coin. This is a good deal for two reasons: 1) They are getting already 50% of your creator coin. 2) They are getting 50% into the project coin. Basically it is as if the FR was 0% rather than 50%.
- You use your FR to buy more of your project coins for minting. You keep track of who bought your creator coins during those 24 hours.
- You open up your project coin for the public at the typical FR of 10%.
- You wait three days after launch before distributing your project coin to early buyers.
- At distribution day, you set your project's FR to 0% and announce to users.
- After the 24 hours pass, you set back your project's FR to 10%.
The focus is on two things:
- Price stability for your creator coin given that they won't sell when FR was at 50% during the time they got it
- Price stability for your project coin given the wait period + potential new buyers
Disclaimer: This isn't investment advice. Please pursue at your own risk. Any actions that you decide to do are at your own responsibility. Consider this and BitClout as if it is experimental. Proceed with caution.