• 1 Post
  • 21 Comments
Joined 27 days ago
Cake day: December 3rd, 2024
  • BasedMoneyCollective@monero.townOPtoMonero@monero.town•Monerochan Token: A Trojan Horse for Promoting MoneroEnglish
    1·
    26 days ago

    Yes, both points are true. The token was 100% fairly launched via a Uniswap pool. However, after the launch, some bots attempted to snipe the supply. In response, the dev made a larger market buy, which led to the creation of the whale.monerochan.eth wallet. This wallet is where the supply has been burned from, and it’s also where the community giveaways are coming from. Once those giveaways are complete, the remaining supply in that wallet will be burned to eliminate any FUD around the large supply.

    1. Token Launch and Liquidity Setup

    • Launch Date: Saturday, November 30th (9:27 UTC)
    • Launch Address: 0x22748a8ffcc62940cbab2f800e39832e16088c6e
    • Uniswap Approval: Same day, 10:59 UTC
    • Uniswap Pool: At 11:01 UTC, 1,336,999,999 Monerochan (100% of the supply minus 1 unit due to rounding) and 0.999944806545350012 ETH were added to the Uniswap pool.
      • Pool Address: 0x223efa253de3593ffef5088ffc8e214c2a9c751bc56ab5c25264a08f1498d3a5
    • Liquidity Lock: On December 1st, 12:01 AM UTC, the pool liquidity was locked forever via UNCX.
      • Locking Address: 0xe557face203eca8bf57eb337449e0fb93b8afced92e82914f2e178e4dcf0b229

    2. The Burn and whale.monerochan.eth Wallet

    After liquidity was added, sniper bots attempted to buy early and grab large amounts of the supply. To prevent this, the dev immediately bought 2.5 ETH worth of Monerochan (address: 0x484b59e42f5025a8ab04fac717b58d25ecc312d125c7bf3315539aa602190fda), which resulted in 789,420,933.056098313445518155 Monerochan—about 60% of the total supply.

    3. Airdrop and Burning Plan

    • The whale.monerochan.eth wallet is being used to airdrop Monerochan to the community and start the burning process.
    • The idea is to prevent snipers from holding a large portion of the supply, so we’re giving the tokens to the Monero community and burning the rest.
    • The Plan: Continue airdropping from this wallet, lock up 5% of the supply for a year (the plan was to purchase the 2.5 when the marketcap was larger but we tried to mitigate bots), and burn the remaining tokens. This will be done this week.

    4. Why Memecoins and Community Building?

    Memecoins are all about building a narrative, and this cycle is focused on creating a strong community. Our goal is to ensure Monero community members receive the tokens with minimal downside risk and potential upside.

    We’re making sure that Monero community members get the tokens directly, without the interference of bots, spam, or scammers that typically flood launch channels. We aren’t using any marketing services or running traditional campaigns like most other projects.

    Hope this helps clarify things. Please feel free to ask if you have any further questions.

    Sent: 0xf1379da5825cb777a7d7050d73c403be2cb317052bb1ad6a325ab1f2b71aa72a

  • BasedMoneyCollective@monero.townOPtoMonero@monero.town•Monerochan Token: A Trojan Horse for Promoting MoneroEnglish
    11·
    26 days ago

    I understand and respect the value of rejecting price speculation, as it helps maintain a culture focused on the technology and Monero’s mission. However, I believe there’s a real threat we need to acknowledge: Monero requires higher liquidity than it currently has. A shrinking market cap reduces liquidity, which could jeopardize its utility as a currency.

    The anti-moonboy rhetoric in the Monero community is valuable because it keeps us grounded in what truly matters for peer-to-peer cash, rather than short-term profit. But there are challenges that even the best technology can’t solve—adoption is a social problem, not just a technical one. For Monero to thrive as a currency, it needs more users who not only accept it but also use it regularly. While price stability is important, long-term price declines are not sustainable for adoption. Monero needs enough exit liquidity and volume to function effectively as a transactional currency.

    Adoption leads to the growth of circular economies, which is something we all want for Monero. To make that happen, people need confidence that their holdings will at least keep pace with inflation. The easiest way to achieve this is by increasing demand. More attention on Monero doesn’t mean it will suddenly attract moonboys or turn it into a speculative circus dominated by a figurehead promoting ETFs. Instead, it brings in more people, expanding the anonymity set and increasing its utility as digital cash.

    Speculation Isn’t New to Monero

    Let’s not forget that speculation has been part of Monero’s history from the beginning. A decade ago, there was a ton of price speculation even within the Monero community. For example:

    The subreddit r/MoneroMarkets has been active for nearly a decade, serving as a space for discussing Monero price action. Countless threads show how speculation has been part of the conversation, especially back in 2015 when the subreddit was filled with posts hyping Monero strictly based on price movements.

    Price action has never been a forbidden topic in Monero’s history. It’s something the community has navigated thoughtfully without compromising the project’s values. It’s not something we must avoid like the plague.

    Speculation Isn’t Inherently Bad

    Speculation isn’t inherently bad—it’s how many of us, even within this community, first discovered our favorite projects. While extra attention won’t magically turn the community into a bunch of moonboys screaming “WHEN LAMBO”, it will attract individuals who are the right fit for this community and its values. Normies aren’t going to do the work it would take to ruin a community. The bar for engagement and culture has been solidified; Monero’s culture is a decade old and mature at this point.

    Caring for Monero’s Future

    I know we might not see eye to eye on this, but please understand that I care deeply about Monero and have for years. Everything I’m suggesting comes from a place of wanting the best for Monero and its long-term success. Monero has already demonstrated its resilience. Years of deplatforming have had an antifragile effect, making it stronger. We really could use more work on outreach to those already not already in the know. A memecoin from a community known for anime art isn’t going to derail Monero’s mission. If anything, it could amplify awareness and attract the kinds of users who will help it grow.