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I think the core issue with memecoin launchers are, and this affects both creator and traders, that there are community-unaligned bots which will snipe the early supply for cheap and then dump on everyone. Somehow these bots are also good in that their incentive is initially too to pump the coin, but they'll make staggering profits from hodling the coin for a while and then dumping on the community. We saw this with $kiwimas. Some bots bought it rather early but then we didn't pump the coin and now no new capital came in. So over the last week we've seen a lot of the botters capitulate on $kiwimas because it probably got too capital inefficient for them. Somehow this is good for $kiwimas because fewer from the core community can get dumped on, but it is potentially also bad for hyping up the token price as these mercantile actors don't get their pump-cut. Remember, the botters have a capital inefficiency problem. They want the coin to pump as quickly as possible as there's plenty of other opportunity in the market. Anyways, I think basic business heuristics suffice here for first principles thinking: Nobody wants to work with assholes (or positively framed: Everyone wants to work with great people) and the way to not work with assholes is to know the people you're working with. And so to welcome mercantile bot investors into your token at the literally lowest price point seems like a stupid tactic to build an exceptional business with. Venture capital has had rather exclusive seed rounds since the dawn of time, for a reason, nobody wants idiot investors in their product. So on a first principles basis, I anyways don't get it. The botter problem would have to be addressed before we give the creator more equity. That is because the assumption is that the creator creates a sustaining business activity with this. But if botters are present in the cap table then they'll take any opportunity to dump on the more convicted investors. I just think it will work long term with bots because the chart will just look like a pump and dump
Great comment. I like what df is doing with Larry in that the first 3 ETH come in from Farcaster's with a certain Neynar score. This doesn't keep a-holes out but it does keep bots out. Its at least some base level, these are humans who have been adding value to a social network. However, no token made with Larry has taken off and I'm not sure exactly why or if it has anything to do with this structural change to launchers.