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(fren, fren) π₯ FT Evolving Meta & Latest Trends
Recorded: Sept. 19, 2023 Duration: 2:18:22Space Recording
Full Transcription
I'm good, Drogos.
Yo, Levi's hungry.
He's hungry to talk.
Yes, sir.
How are we doing, fam?
I'm good, man.
I'm good.
I'm just writing to everyone to join the space.
Awesome.
So we can do a bit of small talk.
How's your day been?
I made you play some music.
I know my boy Eli made a Fred Tech theme song.
Maybe we can play that.
Oh, shit.
I forgot.
Oh, fuck.
I forgot to listen to it.
He messaged me like four days ago.
Put it on right now.
I can't.
I don't know how to do that.
Oh, you just...
If you have a speaker, you just put it on a speaker.
Oh, shit.
That's what you mean.
Okay, okay.
Yeah, but the sound's going to be shit.
I mean, I can play it on my...
Don't worry about it, though.
Can you hear anything?
Not really.
Yeah, it's pretty shitty.
I mean, I'm working...
Eddie sent me some instructions on what to buy,
so I can actually upgrade the spaces setup,
because it's quite tricky to...
Like, you need a special cable and this device
so that you can actually...
Like, I would want to use my podcasting microphone
for the spaces and be able to do, like,
a soundboard and shit like that,
and then I would be able to pass on the...
Like, the audio from the laptop.
But you need, like, special equipment for that,
and I don't have it.
And I'm flying out tomorrow,
so I'm probably going to have it, like,
in 10, 14 days or something.
Oh, shit.
Where are you going?
Spain, actually.
Oh, nice.
And Ibiza.
Oh, nice.
Yeah.
That's going to be nice.
Let's go.
Are you going to be taking a break from FT, though?
Dude, you know I actually hustled, like, crazy
when I was in Italy, like, on an island.
I was, like, on the phone all the time.
And that's when I, like, pumped a lot of ETH into Frentex,
so I'm probably going to be around quite a bit.
I don't know how much time I'm going to have
to, like, write long pieces.
That's the only thing.
But I'll be around for sure.
So, Bogfather invited you to speak.
Like, I'm going to invite Ace to speak as well.
Make C.
Yeah.
Levi, do you want me to make you a co-host
so you can invite people as well?
Yeah, sure.
We need some co-hosts for, like, more slots.
What I'm really interested in hearing today
is that, like, how everyone is strategizing
to provide more value to their rooms.
Because I feel like at this point,
we all have sort of different strategies.
So, it would be really interesting to hear
how everyone is, you know, strategizing
how to provide value.
That's a good idea.
So, I'm going to add that to provide more value
to our rooms.
I'm adding that to the agenda.
Yo, Bogfather, what's up?
Ace, what's up?
Yo, not much.
I posted a...
I just, like, put my thoughts...
Like, a long post about my thoughts sometimes.
And I see everyone...
I think NFT people are going to fucking fumble
the bag huge on this, to be honest.
Because I think they got hurt so bad
bag-holding shitty NFTs.
And they're going to just cheat on each other.
They're going to fucking negative 3-3.
And then it'll probably be bad in the middle.
And then we're going to, you know...
At the end of the day, if you're here from, like,
you know, earlier on, like...
And even up to now, and you just literally do nothing,
like, and just hold, the airdrop will probably be worth it.
Like, you have guys like, you know,
Cat, super bullish on points.
I think it'll be okay.
I think it'll definitely be worth it just holding.
But some people are going to G each other.
And, like, it's going to be drama.
Of course there is, right?
Like, you guys were talking about it yesterday.
But at the end of the day, like, literally doing nothing
and just getting the points and getting the money,
you know, whatever the token is, like,
I just have a feeling like that will probably be the best thing.
And it's just the most boring solution.
And everyone's going to be, like, running around.
And I'm just focused on, you know,
just trying to grow the room any way I can.
Like, there's just...
I don't know.
Yeah.
That's my thoughts on that.
I feel like...
Yeah, go ahead.
Jago, see you go.
Yeah, I just want to structure...
I wanted us to, like, do some chit-chat for a bit
until everyone joins.
And then, like, give you guys some structure
and just talk it topic by topic.
Because if we start going in, like, different directions again,
it's going to be chaos.
And we're going to sit here for three hours again.
No, no worries.
No worries.
We couldn't have none.
Luke's around.
I'm going to invite him to speak.
What's up, GM, guys?
Thanks for having me up, Dragos.
Yo, Ace, what's up?
For your first time here, Ace is a good buddy of mine.
He's been on Frantex since day one.
No, I like the...
I like the kind of, like, the DeFi crew-centric spaces
rather than, like, the ThreadGuy NFT-hosted podcast spaces.
Wait, what happened on that?
What happened?
Oh, I don't know.
Was it, like, a huge argument?
It's like listening to...
Bro, bro.
It's like listening to bad 90s daytime radio.
There was one guy, Joshua.
That guy, he, in the end, he came on
and he's just super mad at FT in general, right?
And he just started, like, arguing with everyone.
And then, sadly, like, we just had to drop in the end.
Oh, wow.
That sucks.
I mean, I saw Brett was in another space
where someone was going at him.
Yeah.
But Ace...
No one did that for me.
Ace is literally a pro Levi trader, Ace.
You've been trading in and out of me, bro, since his start.
I love it.
Bro, he did me, too.
He did the same to me.
I buy tops with DeFi tokens and crypto
and I can somehow manage to snipe tops
and sell, you know, front tech share keys.
So, MFR goes, he says,
I'm front-running you.
Sorry, not sorry.
Yeah, I remember that, actually.
It's so funny.
Yeah.
All right.
So, now that everyone's here,
I guess welcome everyone to the spaces.
I'm sure there's going to be more people joining
and we're going to have more speakers on board.
But I guess for now we can get started.
One thing that I decided to make clear...
Let me make Brett co-host as well.
One thing that I decided to make clear on the space
because the airdrop points one was kind of hectic
and I wanted us to be a bit more organized.
So, I'll just ask.
I think everyone here is fine from what I've seen so far.
Like, let's try not to drag on with our takes
and with...
Yeah, whenever we make our points.
Because the last time we've had people drag on and on
for like three, four, five minutes
and it's way too much.
And I'm going to interrupt this time
and try to speed you guys up.
Yeah, we're going to cap them this time.
We'll shoot them off the stage.
Yeah, because I just want it to be more dynamic
and just have...
Basically, give everyone time to give their takes.
So, that's one thing.
Just be pragmatic.
I don't want us to dive into like the whole philosophical discussions
about frantic, etc.
Don't need to raise your hand.
Or you can just talk whenever we have our...
Like our...
Whenever you feel like talking.
If it gets too hectic,
then we can implement the hand thingy
and me and Brett
then Levi can nominate people to talk.
And I thought we could do something cool this time around
whenever we do the Q&A.
Actually, I wonder what you guys think about this.
It would be really cool if we ask in our rooms
what kind of questions people have
or if someone from our rooms wants to come on board.
I think that would be like a really nice utility
to kind of have for people who are in our rooms.
So, whoever wants to jump in,
we just give priority to people in our rooms.
And if not, we just take someone from the crowd.
All right.
That being said,
lots of stuff to talk about.
Bogfather already started with some interesting thoughts.
I have on my agenda
and if you guys have any preference
or something that you're like dying to talk about,
let me know.
So, I have the self-buyers.
Should they be nerfed?
Which is probably a discussion
that everyone's talking about
and there's some deferring opinions into that.
I want us to dive deeper into the 3-3
pros, cons, and how it's evolved.
And I want Mixi to kind of give a background on that
because I think it's kind of misunderstood
and it can be taken to a crazy extent
like with Ohm
where people think they just have to,
you know, like blindly buy and sell
whoever buys them and whoever defects them.
And that's not necessarily the case.
Then we can talk some of the TVL stats
which probably also includes a self-biased conversation
and the recent rotations.
Also, the madness with the bots.
I don't know if Luke wants to jump on board
to talk about that
but there's like these crazy webs of bots
that are just buying like two, three keys
of accounts and stuff.
And there's always like a bot-fueled account
that's like trending.
So, that would be interesting to discuss.
I'd love to discuss watch lists
and see what you guys think
if it's just going to be a fluke
or if it's going to be helpful.
And Levi mentioned something really interesting.
How are people strategizing
to give more value to their rooms?
So, I have all that on the list.
Do you guys want to start talking about
self-buyers maybe
since that seems to be the hot topic?
So, 0x5f just made a post this morning
an x post
publicly stating that he self-bought
you know, using an alt
account.
So, Racer actually
commented in his room
that he saw that post.
So, the team definitely
is catching on
and I feel like
public opinion
at this point
is kind of pushing them
to do something about it.
I feel like they can't just
ignore public opinion
forever, right?
I mean, how would you guys
I mean,
I think the one thing
we can all agree on
or if anyone has like
higher counts
and trying to like
get on that leaderboard
like you can't have people
like Valerie Harris
or you know what I mean?
Like some of these
made up names
with like three people
and it's just the web
of the self-web
of like buying
and it just kind of
it just destroys
the whole point
of the leaderboard.
You know,
it's just kind of
getting silly at this point.
Like I think there's about
13 out of the 50
that are self-buyers
so the least they can do
is just kind of
exclude them
from the leaderboard
and then we can
you know,
delve into the points
issue like later.
I don't think
the self-buying
is actually bad
for the marketing stuff.
They can do that stuff.
I think the points
thing does need
to be addressed
but if you want
to spend some money
to put yourself
up on the board,
yeah,
I don't think
that's a problem.
Yeah,
I don't think
that part of it
is a problem.
The problem is
that the self-buyers
they get so much
portfolio value
right
and that just
completely obliterates
everyone else
who's you know
buying each other
buying organically
as well as
the people
who are self-buying
they have zero
principal risk
on their ETH
right
so that
that's also
a huge advantage
over us
organic buyers
and that just
unfortunately
portrays FT
as a farm
more than
an engaging
product
to the public
opinion.
Yeah,
I have
a couple
of ideas
that I've
floated
about like
ways to
resolve this
and one
is marking
basis
as the cost
basis
instead of
marking
the keys
to market
for all
of a
person's
self-bought
keys
and the
second
would be
I mean
I guess
so if
you buy
and burn
that's
very different
than if
you buy
and hold
because
buying
and holding
kind of
establishes
kind of
an adversarial
relationship
that requires
a lot of
trust
with you
and your
key holders
so you
still retain
the right
to dump
or like
rug the
bonding curve
and that's
kind of a
problem
so yeah
I think
like
basically
there are
different
ways for
the team
to address
this
wait
hold on
what's
what's
burn
submerge
has like
a utility
where I
think you
can burn
a key
somehow
and like
the only
I don't
know how
he does
it but
the only
way I
can think
of is
like you
would have
to incur
the transaction
you know
but yeah
I'm not
sure
you know
like people
wouldn't want
to do
that
but again
buying and
burning is
very different
that's kind
of like
signaling
long-term
commitment
to friend
tech
because you
can't access
those funds
again those
are locked
in to the
bonding curve
at that
point so
yeah my
guess would be
he's just
having a
it's the same
thing that's
going on with
the smart
contract for
wrapping your
tokens it's
just that
there's no
selling feature
right so if
I go to a
smart contract
tell it to
buy a key
on my behalf
but it
doesn't have
the ability
to sell
back then
it's effectively
burned
yeah something
like that but
that I think
would you know
resolve some of
the alignment
issues that you
get with
self-buying
wait hold on
why would
anyone burn
their key
like isn't
that just
wasting you
well if you
want to farm
you know
so if you
really are doing
it to farm
and you're
like long-term
aligned and
you want it
marked to market
you know you
could burn and
you're essentially
like locking in
that liquidity
so it's kind
of like when
people make a
token and then
they lock in
the liquidity
and can't
can't access it
anymore
but they I
mean I can
still get it
back after
yeah I mean
locking not
burning burning
wouldn't make
sense but
locking yeah
burning like
really wouldn't
make sense
but you at
least want to
you know let's
say you're like
farming until the
airdrop and then
you want to sell
all your keys and
you can tell
people hey just
dump all my keys
and then I'll sell
them last and then
you just get all
your ETH back or
like part of
it like most
of it yeah
yeah maybe we're
talking about the
same thing here
but yeah like when
you burn a token
yeah you reduce the
overall token supply
here you don't
yeah you don't
reduce the key
supply because you
know price goes up
and liquidity goes
up with the number
of keys you just
yeah you you
basically lock it
yeah that's what I
mean
no I mean the
difference is it's
impossible to retrieve
the key if you burn
it you know there's
no you've just like
destroyed a lot of
utility potentially
let's say that
these become
composable outside
of front tech
right like you
can't retrieve that
that burn key from
the bonding curve
sure your price is
going to remain
where it's at
but who knows
what we can do
with these keys
long term
I mean there is
no way to
I guess lock
the LP or lock
the key
that'd be a nice
feature
I think it would
help you know
help rooms that
have high
cell phone keys
become a little
bit safer for
investors
because you're
not you know
you guarantee
there's no guarantee
that right now
that you won't be
dumped on by
self buyers
so like I've
been buying
back keys
I actually just
made my first
buyback because
of my fees
crossed one
eighth and I
was like you
know that's
pretty exciting
and it's
it's really
because of all
the members
of my room
that have
gotten those
fees
but I can't
really guarantee
that I won't
just dump
my self bought
keys and like
I think that
would be a
really safe
measure to take
if I'm the
team it's like
how do you
lock your keys
for a specified
number of you
know days
months weeks
whatever
but okay so
that's like the
dumping aspect
right like if
you see someone
who owns their
own keys
then you know
like they
could dump
on you and
let's say you
lock them and
you get rid of
that problem
but what about
like the
the points
farming aspect
because that's
the thing that
I'm more
concerned about
is that it's
not really
incentivizing
people using
the app and
you can just
be a whale
and as 0x5f
he put what
40 ETH in
but his
because the
bonding curve
the value that
he's farming
with is like
100 ETH I
don't know if
I got that
right
yeah so
Vombatis
the number
one self
farmer
I'm pretty
sure I
think he
dropped
600 ETH
into his
own shares
and those
are valued
at 1.5
K ETH
right now
in terms
of farming
yeah that's
ridiculous
like that's
just
it just
like why
wouldn't you
do it
exactly
like it
just completely
dwarfs
everyone else
in the points
calculation
if they're
you know
calculating
according to
portfolio value
do you
think
sorry
sorry
makes
and it's
less
less fees
obviously
because
you're
collecting
the fees
it's just
like 10%
round trip
to farm
I thought
that
Vombatis'
like kind
of comment
on it
was interesting
I mean
like
the same
thing
kind of
what we
with
blur
and them
kind
artificially
upping
that number
to make
it like
look really
good to
outside
investors
that you
know
the TVL
goes up
and it's
all legit
but I
know King
Magoga
is like
working on
you know
trying to
like trying to
get to that
real TVL
value
you know
which is
you know
the regular
the number
that you
see minus
all that
self-buying
it really
does go
against their
own interest
to you
know
to nerf
isn't that
already
they already
have that
on Slice
Analytics
like they
have the
they have it
separate by
like self
buying TVL
and yeah
yeah they
edited over
the weekend
I think
but that
still doesn't
so Luke
pointed out
accounts that
kind of form
like a web
where they buy
like two three
keys each
and it's probably
like I don't
know I'm just
giving like a
random example
like someone
having 50 alt
accounts and
oh there we
maybe they can
tell us more
about this
just inviting
them to speak
yes there's
like a web
of like let's
say like 50
alt accounts
that are just
buying each
other like two
three keys
and then that
becomes way
way harder
to to classify
as like self
buying TVL
I think the
other the one
where you're
buying your
own keys
that's probably
pretty easy
to to
separate
hey what's
up King
King
Google
yeah I
long ago when
I made this
account I
decided to
pick the name
that was
hardest for
people to
say I
don't I
screwed up a
little bit
there but
yeah so I
think appreciate
Bogfather for
giving an
explanation we're
currently you
know we've
separated TVL
from self
buyers and
then I would
say like
typical TVL
normal organic
TVL what
we're trying to
look into now
is like you
hit on Draco
switches that
web of wallets
which are all
buying each
other and
idea here
would be you
know we do a
quick study
figure out the
the average
number of like
max keys that
an organic user
holds and then
potentially discount
discount any TVL
beyond that so
you know that
would be you
know I'm seeing
multiple accounts
that are tossing
in 20 ETH too
and they're just
buying each other
and they own
75 100 keys
of each other
you know if
Frentech can say
like hey you
know I'm
Levi owns
three Bogfathers
or that's like
a typical thing
you can discount
the TVL going
that's earning
points beyond
those three
beyond those
four beyond
those five
and I think
that's a really
healthy middle
ground
how do you do
that I think
sorry go ahead
yeah I have
an idea for
this I think
the best way
they can do
this is just
say each
additional key
that you own
of someone
that key
earns less
points
right
say make
it like
or something
right
so if
you own
a second
of someone
that earns
of points
and then
the third
so as
time go
you know
if you own
100 key
or 200
keys
of someone
that
marginal
points
that you're
earning
at that
point
goes like
way less
right
and this
wouldn't
just apply
to self
orders
but it
also applies
to alt
accounts
to people
who are
just like
stacking
keys
and I
think
that way
you don't
you don't
put some
arbitrary
measure
but you
do something
that everyone
can adhere
yeah
I think
that's
maximized
for that
though
right
like
whether
it's
whatever
they're
going to
find
the path
of least
resistance
to maximum
points
and they're
going to
find
like get
to it
there's no
stopping
that really
there's no
stopping
of course
of course
you just
make it
way tougher
and like
dude if
you even
capped
out like
or as
King
was saying
it's like
there's an
average number
where the
normal person
you know
I'm sure
there's someone
who's betting
25 keys
on you know
dragos
because they
love them
or whatever
it is
but like
the average
user is not
ripping 75
keys into a
random account
because they're
bolishing that
account
they're doing
it to farm
it's such
an easy fix
I don't
get how
they haven't
done anything
about it
yeah and
one other thing
I think that
that is
important here
too is
you're not
really getting
that maximum
multiplier
until you
hit like
over you
know 25
30 40
keys
so if
you're
if you're
requiring
bots to
basically
buy you
know three
of so many
different
accounts like
the amount
of work
that goes
into that
is kind
of insane
I'd almost
lean towards
just you
know buying
being a
farmer and
just buying
organic
accounts
it's just
right now
there's such
an advantage
to buying
your own
accounts
so that's
where farmers
are going
and also
just buying
your own
account
it's just
so easy
right now
it's literally
so easy
that like
it's encouraging
people to do it
if they make
it just any
harder
like like
if you're a
real person
like making
10 ft
accounts
is like
impossible
to do
right
like it's
so hard
because you
need to make
x accounts
you need to get
it connected
but like
they're
of course
going to
scientists
who do
it with
bots
but like
you just
make it
way harder
at least
like 10x
harder than
today
and I think
that'll solve
a lot of
the problems
yeah I mean
I didn't realize
so far that
with the bonding
curve
like you put
40 ETH
and you have
100 ETH
to farm
so like
with all the ETH
that I put in
and the key
appreciation
I'm taking
on so much
risk
from so many
keys
that it's
like
it's
a no brainer
to just
pay the 10%
and just
buy yourself
for the farming
and the thing
is they've
done it
with so much
and they've
gotten so many
points
that if they
don't nerf
it soon
then it's
like a huge
win for them
regardless
but I also
wanted to say
if they nerf
I don't get
why they're
not nerfing
this like
ASAP
because I
don't think
it would
affect the
platform
if the
self-buying
disappears
like
what's
25 million
versus
35 million
let's say
there's
like
10 million
of self-farming
because ultimately
you want
like a decent
amount of
it's not
it's not
going to be
like a huge
difference
if it's
like 5
million
plus or
minus
but mostly
you want
people to
love the
and to
use the
and to
become
addicted
to it
right
which is
what
situation
that we're
these
kind
of users
that you
want
on your
this is
what
I think
the people
who are
self-hoarding
right now
even if
we nerf
they will
still want
to farm
on the
platform
like they're
not just
going to
go away
and then
like completely
withdraw
their ETH
they're actually
going to try
to deploy
those ETH
now into
real accounts
because
the farming
APR is just
way too
juicy for
those guys
and I don't
think they're
going to
give up
just because
self-hoarding
is nerfed
and if
they do
that
then I
think that
amount
of capital
just flows
into the
organic
market
and that
helps
everyone
yeah
I mean
just any
measure
works
I think
what
King
Magoo
is saying
though
it's
going
to be
super
like you
almost
want to
they could
be even
super
conservative
with it
and only
target
the most
blatant
most edge
cases
and that
would still
have a
pretty
positive
impact
just because
it like
keeps
this from
getting even
more extreme
because each
week it's
going to
keep getting
more extreme
more of
these
quasi
self-buying
triangles
will pop
they're
going to
keep
spreading
into
more
accounts
it's
only
going to
harder
they
keep
waiting
it's
like
maybe
allow
people
self-buy
up to
keys
you know
organic
users
do a
bunch
different
things
you don't
want to
harm
someone
they
like
investing
more
keys
someone
or 5
keys
like
yeah
cut out
the edge
cases
of chucking
Ethan
to steal
points
from
everyone
seems
easy
yeah
Bombatis
has like
of total
front
at least
last time
I checked
and also
look
the thing
is right
now the
name is
Bombatis
right
imagine
someone
makes it
Kanye
or like
Jay-Z
you know
like they're
for sure
gonna be
people like
that
who just
making up
you know
celebrity
names
and shit
and that
would be
such a
look
you know
the worst
look
would be
if the
name was
Justin's
trust me
that would
be the
end of
all farming
frentech
like we
couldn't
stand a
chance
if that
happened
so I
hope it
doesn't
because that
dude could
that dude
ruined like
every farm
at least we
don't have
Alameda to
worry about
anymore
but we
still have
Justin's
alright
didn't Alex
Savanek say
that Justin's
son is gonna
make an
account
at token
he did
he did say
that
oh my
so watch
dude how
bad is that
drop gonna
manifold
what's up
are you guys
around
can you
can you
confirm
if you had
contact with
Justin's son
if you had to
sign an NDA
we understand
I mean I
can't say
by the way
this is a
cool discussion
like we've
been helping
people self
snipe
right
it's
pretty
interesting
because
if you
do the
math
like
based on
how quickly
your portfolio
value grows
if you just
buy the
cheapest
shares up
like even
if you're
buying the
first 50 60
even if
they make
the portfolio
value like
calculation
nuke by
like 50%
as like a
penalty for
self-buying
it's still
worth it
in my opinion
because
usually the
growth is
a lot more
than
how much
you're putting
I do think
like some
penalty is
probably
smart
I don't
think they
should
penalize it
like more
than 50%
because it
is good for
people to
actually be
incentivized to
grow their
account right
like if you
have 50
shares of
your your
own account
like why
wouldn't you
want to
keep engaging
and like
build your
account up
so it's
like a
it's a
balance
like they
shouldn't
penalize it
like 100%
they shouldn't
penalize it
just 10%
maybe yeah
50% is
probably good
question for
you in the
conversation
obviously you
don't disclose
if you don't
have to but
any conversation
that you've
had how
many of the
conversations
are around
optimizing for
potential airdrops
versus like
fair distribution
or like truly
trying to lean
into the
product itself
I think it
depends like
I think what
happens is
we just give
them context
if they ask
questions like
we just do
whatever the
person wants
to do right
but we tell
them like yeah
if you hold
a large
portfolio value
it's good
for farming
points we
also tell
them you
should engage
with your
own room so
that you can
get engagement
points as
well but at
the end of the
day like they
choose what they
want to do
some of them
are worried
that like they
put Ethan
and then it
gets stuck
forever because
they don't want
to be selling
their own so
that's why
we're building
like the whole
like pre-sale
transfer mechanism
we're actually
probably gonna
open source it
today so that
like you know
projects and
like big
influencers can
you know actually
distribute it to
a large number
of holdings
some people
want to just
purely make
money off of
it some
people just
want you know
more exposure
marketing or
just participate
in the ecosystem
it really depends
but I think
like the the
common theme
around everyone
is once they
get their
account they
get like the
instant dopamine
hit of
front tech
where a lot
of people
start aping
in you know
they get
trading fees
and all of
that and
then like they
get really
into you know
the platform
itself and
start asking a
lot more
questions about
what what they
should be doing
in order to
you know do
well and I
think like that's
been really
bullish it's you
know I was
actually on a
call with one
of the people
that we launched
and like as
soon as you
know the app
loads and then
they enter
front tech it's
like their face
changes you know
and they're like
wow this is
amazing
how would
you that's
awesome sorry
go ahead
yeah I just
have one
question because
you mentioned
that like you
can distribute
the keys you
snipe to
different people
like how does
that work under
the current
smart contract
architecture
that's exactly
what I was
yeah so the
so the current
smart contract
architecture doesn't
allow it right
it's an
untransferable
thing so
basically the
proxy contract
contract that
will open
source
essentially what
it does is
you can buy
shares into
the proxy
contract the
proxy contract
has a mapping
of you know so
within the
front tech
contract basically
the smart contract
the proxy contract
that we wrote
will be the
owner of all
those shares
that are bought
into it but
it's a
permissionless smart
contract where
it maps the
share subject
and how many
shares to each
user right so
who actually
owns those
shares and
those people
can transfer
it they have
the authority
to sell it
when they sell
it using you
know the
front tech
contract they
actually receive
the e from the
proxy contract
directly and
then they can
just transfer it
or gift it to
other people
right so this
allows for the
whole pre-sale
mechanism because
you can now
transfer and
distribute shares
you can you
know just gift
it to people
if you want
you can also
do all sorts
of things right
where you know
I actually got
a bunch of
inbound messages
of people wanting
to build on top
of it so I
actually shared
the code to
them first
there's people
that are trying
to build a
lend and borrow
protocol on top
you guys probably
heard of this
but basically
use keys as
collateral in
order to
basically borrow
off of it so
you can have a
platform where
people lend
or you know
people lend
their keys and
then they can
borrow but
basically you
know that that's
super interesting
because now you
can go from
3.3 to 9.9 I
don't know if
this is going to
be great for the
ecosystem because
you know we
already know that
3.3 could kind
of spiral the
wrong way but
9.9 like spirals
pretty cataclysmically
where you know you
could get cascading
liquidations very
quickly but it
creates you know
a very interesting
market for these
keys right it's
not just lending
you can do all
sorts of things
once you use the
proxy contract
so yeah we're
going to release
it let's see if
people build you
know nice UIs
on top so that
you know anybody
can interact with
it more easily
but yeah very
excited
I can't believe
I'm going to have
my friends liquidated
that's insane
congrats guys and
I think you guys
are building a
public good that
will serve all of
us my question is
then does that
account still
accumulate airdrop
points and
second of all do
those holders of
the proxy keys do
they get chat
access you're
you're reading my
mind unfortunately
the you can
it's just yeah
so you're just
wrapping the token
right it's the same
thing as what
foobar did
yeah so
unfortunately you
you can't get
the airdrop
points and the
reason being
the account
address is not
a frentech
account you can't
have code like a
smart contract
running on your
frentech address
because it's just
a hot wallet
so you know you
won't be able to
get points
another thing is
yes you don't get
access so this is
you know purely
for the trading
aspect of things
I think it makes
the most sense
use case wise for
the pre-sale
because I think
the the time this
matters most is
when accounts are
launching right and
we've been helping
you know people
self-snipe we tried
sandwich we tried
all sorts of things
which you know
definitely helps
because bots have
to take more risk
you know today we
did a launch on an
account with 20k
followers and there
were actually no
snipers so finally
like like no
snipers that
followed on after
which just shows
that like the
snipers now realize
okay like maybe we
shouldn't be taking
this risk because
they could get
rugged so that's
good but at the
end of the day
like the whole point
of what we're
trying to do is
like how do we let
people do more
fair launches right
and not force the
account that's
creating the account
to like hold their
self-snipe shares
forever so I think
the pre-sale
mechanism allows
that and then if
someone wants to
like after receiving
that like pre-sale
share from the
account creator once
the distribution
happens they can
sell it and then
just get the ETH to
rebuy into their
own account and then
they can you know
qualify for the
airdrop points right
so it's just a way
to basically make
the account launches
very fair compared
to how it is now
and then it won't
affect the point
farming because they
can just convert that
back into their own
account the one
thing that I hear
because like assuming
you're talking about
the lending protocol
and stuff anything
beyond the initial
launching it's going
to require net new
share in order to
get a loan against
net new share which
kind of defeats the
purpose in my mind
right yeah correct
so like people will
basically have to buy
into the proxy
contract the thing
is like for the
lending I think
like with these
new protocols if
they build a nice
UI and like let
people just like
start using these
types of protocols
off platform and
then you know they
have the holdings
immediately into the
proxy contract like
the net new users
that come from it
could you know be
using that instead
of the usual way
which you know
could gain some
traction I think
it's definitely like
operationally and
logistically a bit
of a barrier
compared to what
rent tech already
provides and I
also don't want
the scenario where
like people start
creating like OTC
markets on top
where you know
you've got like
shares trading
off platform no
royalties for the
account creator and
stuff like that's
sort of against the
ethos of what we're
building which is
why we're not
building any more
functionalities on
top other than the
transferring buy sell
plus the pre-sale
essentially so we've
built all of those
in and then like
whatever developers
want to build on top
of it it's open
source they can do
it but like we're
not necessarily going
to endorse anything
like we might share
it going like oh
this is cool people
are building on top
of it but that'll be
the extent probably
and this is super
interesting and by
the way what you
guys did yesterday
I think it was
yesterday it was
hilarious with the
snipers that got
wrecked because they
bought right after
you and then yeah I
mean basically it's
really interesting
right there were
11 shares that were
bought within three
seconds of the
self-snipe which
were not any
front tech users
because you can see
on the platform no
actual front tech
account like bought
it I mean it's
impossible to buy
within four seconds
right because the
front tech UI takes
like three seconds
to load the buy
so you know so
11 shares bought
by snipers and
then sold back into
them so they were
unrealized down like
60% immediately
after sniping which
has never happened
before for a sniper
right it's no longer
a pure arm so now
they know that they're
taking risk and then
there was a shitty
sniper that like was
really slow
so like he lost
the initial
bid to snipe
but the sniper
bot like just
kept spamming
because like the
way they work is
they're pretty stupid
like they just spam
and it went back
down to like the
price it was
willing to pay
and then it just
like bid 40
immediately right
so basically like
the sniper bot
essentially is creating
a limit order
like limit bid
trying to buy at
like a certain
price so it's like
really interesting
now you just have
like a normal
market where
there are people
willing to buy
at lower prices
and whatnot
so like it changes
the way accounts
launch it used to
be you just need
to be fast and
like buy as soon
as possible
it ponzi's up
and then you just
sell back into
the bonding curve
now like bots
still have to take
risks so maybe
they won't be as
stupid anymore
and like users
should actually
watch the flow
like who's holding
these keys
you can take your
time you can take
as many minutes
as you want
learning about
the count
before you
ape so that
like you know
you know what
the risks are
and everybody's
sort of on the
same playing field
there
this is amazing
I absolutely
love it
so you mentioned
why don't we talk
about 3-3
before we get
into 9-9
I mean 9-9
would be absolutely
bonkers
I mean I think
3-3 can go
can go wrong
and there's
scenarios but
9-9 would be
insane
so we've
had 3-3 for
what like
2-3 weeks
now I think
and it's
kind of evolved
from the
beginnings
there's been
I mean
Brett has
that evolution
of makes
his dashboard
where they
quantify like
a quality score
of people
and I know
him and others
are trying to
quantify
and see like
how you know
diamond handed
some people are
who are the
most which
people have
the best
reputation
let's say
so that you
can pick
and choose
which people
to 3-3 with
we've also
had people
social engineering
others to
buy their
keys and
then dumping
the keys
off some
alts that
they used
to previously
accumulate
the keys
so it's
quite a
nuanced
debate
and it's
not a
black and
white thing
of like
buying
everyone
who buys
make
see if
you're
around
do you
want to
give us
like a
breakdown
of the
evolution
of 3-3
and where
we are
and where
you think
it's headed
yeah totally
so you know
I think it's
helpful to
you know
instead of
talking about
3-3 which is
like you know
it kind of
started as a
joke
like maybe
we can just
talk about it
in terms of
reciprocity
um so
social networks
require reciprocity
to work
and uh
you know
a social
network
without
reciprocity
is just
simping
okay so
you know
or a
cult
um so
initially
like the
way people
were thinking
about it
was simping
like you
simp into
influencers
um and
you're going
to consume
their content
but kind
of what
people saw
is like
we get
this
aggregator
market
and the
value of
content
kind of
goes down
to zero
over time
and what
it's
transformed
into
is more
of a
you know
more of a
farming game
uh based
on like
it's like
a high stakes
game of like
on-chain
signaling
and reputation
um where
the actions
on-chain
you know
tend to matter
more than
the content
you're producing
both matter
of course
um but
like that
on-chain
element is a
big part
of the game
and we
see a lot
of people
just kind
of don't
understand that
especially
influencers
and celebrities
and stuff
and like
the game
has been
evolving
for weeks
and like
the people
who have
been grinding
on it
they kind
of like
understand
it better
but now
like you
know new
people will
come in
and you're
kind of being
thrown into
like a
viper's den
because it's
like there
is a lot
of context
uh and
it's you know
it's it's not
easy to like
come in and
like get up to
speed on on
what's happening
so what's
happened is
um you know
reciprocity is a
behavior it's
not like a
community um
so like we're
gonna like
three three is
gonna happen
that's how
social networks
work um
people see that
there's you know
a value proposition
and hey maybe
like owning
someone who owns
me who's gonna
participate in my
room maybe
that's better
and more fun
than just like
uh an asymmetric
relationship with
someone else so
that that's a
value prop
and basically
no one was
looking at that
initially so it
was not priced
in so you
know you're
able to buy
somebody with
like low
follower count
uh but like
you know highly
engaged um like
future max bid
um you know for
like for like
under 0.1 and
like have a 20x
you know on
them so that's
it was not
priced in
initially but
now it is
priced in so
we're transitioning
from like the
easy mode where
it's just kind
of an arb like
like those people
were obviously
underpriced to
um hard mode
where it's like
hey it's more
expensive to
pursue this
3-3 strategy
so now we
need like all
these advanced
like meta
strategies and
like counter
ops uh you
know to detect
people who are
more likely uh
to defect and
like avoid
adverse selection
and like you
know monitor
defections
minimized
defections
so like those
are all the
topics that we're
talking about
now that were
not like
anticipated and
this is all
emergent behavior
so it's like it's
really hard to
predict where it's
going to go but
that's kind of
where we're at
now and we're
just kind of
like adapting
based on you
know uh our
own personal
circumstances i
think so i
think that's like
a good way to
frame this part
of the discussion
that's a
terrific take
by mixy
and obviously
like i feel
like a lot
of us here
aren't really
deep in the
theory so we
you know know
all the dune
dashboards to
look at
know all the
numbers know
the calculations
but maybe we
throw it to ed
because he's
one of those
you know one
million twitter
subscriber ultra
star who's on
the platform
who's also super
excited about
front tech you
know but maybe
um from another
perspective like
ed what do you
make of all of
this
dude's up here
farming i'm gonna
cap him ed you
got about 30
seconds uh while
we wait for him
to wake up
oh my god
dude's farming i'm
gonna cap him if
he doesn't do it
uh oh i also
want to hear pussy
riot here yes
oh no go ahead
let's go yeah
one yeah one one
one second and
then i'll yeah
there you go he's
capped just say we
talked about we
talked about the
dashboard uh yes
we are like
adjusting it's the
whole cat and
mouse game so
yeah like i'm
trying to add
some metrics to
it to show like
velocity of dumping
right so it's not
just you get like
hit for defections
if it's you do a
whole bunch at
once then then
that gets
disproportionately hit
and then i
actually i found
a narrative dashboard
that i thought was
really cool so i
actually just updated
if you guys are
seeing it you can
refresh it and it
shows i clustered
uh the top three
threeers i pulled
most of the top
25 minus a handful
um that were like
levi like i think
you're in a different
stratosphere than just
like a pure three
threeer so it's like
people like you
hasaka those guys
i've kind of
separated you out
and went into just
the three threeers so
like myself and
drago's and a few
of the others uh
just to see
performance narrative
wise versus us
versus everyone else
and you can see just
the last two weeks
have been absolutely
ridiculous um so
yeah if you're on
the dashboard go look
at that and i gotta
update the rest of
the clusters because
they're not totally
up to date but i
think tracking the
meta narratives within
using that that
visualizer will be
really interesting so
i'm gonna try to
keep it up to date
any more thoughts on
yeah go for it
yeah yeah so
anyway like yeah
what we've been you
know talking about is
like transitioning from
three three to um
like there's going to
be reciprocity right
but reciprocity doesn't
scale so we'll
i think we'll see a
transition from three
three to like you
know affinity groups
so like friend friend
and those are those
are stickier bonds um
but like that's that's
sort of the way i uh
see things um playing
out you know um but
yeah like like the way
we've been talking
about it it's like you
have affinity groups and
then you also have
within those affinity
groups you have lindy
lindy so it's like uh
the the supply of like
high reputation three
three years with a
long history that's
deflationary over time
as more people defect
so um you know uh
people with good on
chain reputation you
know in a longer
history will command a
premium i think i mean
this is my guess i don't
know how this is going
to play out but uh you
know would command a
premium potentially um
you know and that will
be i think within
affinity groups and
we've seen we've seen
this now with with um
with the nft crowd you
know like they they
three three internally
within the affinity
group it's not like a
global thing where the
um where you know the
winners keep keep on
getting richer uh because
the bonding curve kind of
works against that so i
mean i think that would
be healthy basically like
you have these different
clusters um you know and
they each have have their
own dynamics but yeah
the key thing is it's
like it's a behavior it's
not a community and
you'll have multiple
communities that kind of
emerge with this because
i do think there are
benefits within the ft
application and just like
the way the way the app
works um so yeah that's
how i'm thinking about
it go for the book
further yeah i mean as
an account uh oh gone
all right now i'm just
going to kind of uh you
know piggyback off of
makes these point with in
terms of affinity groups
um i was kind of looking
at my um my holders and
i think half of them are
pudgy penguins so you
know like i think it it's
kind of interesting how
that works too and you
know thankfully pudgies
aren't down tremendously
um but i'm i'm kind of
like looking at where apes
are going and i think
that's kind of like one of
the the next metas to you
know to evolve because i
don't think a ton of apes
have really um crossed over
yet and regardless of how
down they are right now
i still think um they
have a really strong
community and that is
you know you know
up another possible way
to play the game i guess
by the way has there been
any i was gonna ask
has there been any
indication on when or if
we'll ever see a way to
track one's cap table or
one or ways to track who
owns a certain key without
having to scroll through the
buys and the sales yeah i
mean there's loads of
tools where you can see
that you can use uh i can
i can dm you or i'm sure
we can pin a tweet or
something from there's
people who have like put
up lists of tools there's
octave which does a pretty
good job i can go on any
account and you can see
what like what keys they're
holding etc like that's
basically it's really
interesting that you
mentioned that because i
don't like i because i'm a
power user and like we i
guess most of us here all
have these like dashboards
like dune dashboards and
like tools that we use i
don't think we realize
that some people who are
not like diehard ft users
are just using the app and
trying to glean information
from there because people
were mentioning like i
think i think luke you
were mentioning that
watch lists are not that
helpful for you because
you're just looking at all
these tools but i think
for the like for the
normal user who uses ft uh
it can be quite important
um and on top of that
also what i want someone
asked like what 3.3 is
and i realized that we
talked about 3.3 for like
10-15 minutes but we
didn't actually explain in
like very basic terms what
it means so for those of
you who have weren't around
back then or you know
maybe you come from the
nft space or you just
joined crypto in the last
year or so and you have no
idea what the hell we're
talking about 3.3 was this
game theoretical approach in
this d5 project that was
called olympus dow where
basically everyone kind of
agreed to hold and not
sell and as you can
imagine during the the
madness of the bull run
that project went
absolutely crazy uh because
everyone was holding
nobody was selling but
then as soon as it it
unwound it spiraled down
99 percent so everything
that makes you was was
saying before was that this
is kind of different and
we're not like we're not i
don't want to say we're
promoting because we're
not promoting it we're
practicing practicing it to
a certain extent but it's
mostly to find these
communities and not just
blindly that's that's why
we were saying don't just
like blindly if someone
buys your key you buy their
their key because that
would be the equivalent of
3.3 on frantech so that's
basically the background
behind it and all the
discussion before was how
should we approach this and
how should it be done
properly so that people
don't absolutely go crazy
and we we establish all
these you know interconnections
that at some point
whenever you know like
closer to the airdrop or
whenever some people are
going to be defecting on
their 3.3 bonds um chaos
ensues yeah buckfather go
ahead and then i'll i want to
i want to get to nadia and
and i want to i want to get a
pussy riot too we have to
have her but yeah buckfather go
ahead yeah i was gonna say
that i was i was i wanted to
are you going to be talking
about kind of the points at
all i don't i know that's a
little off topic but in terms
of kind of i see i saw a cat
talking about wanting to buy
points otc and i wonder if
we're going to have like a
lock dual v2 kind of situation
as we get closer um to the
airdrop and i thought that was
kind of interesting how i
actually talked to him
because i have one of the most
points right and so my thought
process is i need money today
to expand my business right um
and expand my moat so if i can
sell my points up front for
cash i can use this cash to
reinvest in my account and grow
my account bigger um but it
seems like cat really wants to
cap the uh fdb at 300 mil and
and less um i was targeting like
one dollar per point um so we
couldn't reach an agreement
there um yeah but that's the
situation we buy we'll we'll
buy it at 300 one mil fdb if
you're interested that's
interesting well that kind of
puts like a like a lower
boundary on them so you could
assume 60 cents based on that
or 30 cents depending on how
much how big of a portion of
the airdrop it will be
interesting that's actually quite
interesting yeah and cat cat
was a little upset that he was
so bullish on the timeline after
that he said it and in the
three he's like yeah like i
shouldn't have been so open
about my one to 1.5 billion
valuation in my head now he's
fighting for that 300 yeah
that makes sense that's really
interesting uh nadia what's up i
told him to join the spaces i
sent him the link oh he should
he should we would be happy to have
him and grill him
all right uh nadia you're around
ed you're around we just want to
get uh we want to get opinions from
people outside of the hey hey what's
up how do you like the app so far as
someone who's not deep in the
trenches like we are
i was pretty deep at some point um
and then my life took over um had
to go back to my studio and just
work on art um i check it regularly
regularly though um i love it i love
it um i it's it reminds me of early
stages of the um nfc craze that i
joined in a few years ago 2021 um
and i especially enjoyed the space
um enjoyed the app when it was
buggy which is counterintuitive but i
mean i'm enjoying it now right now as
well but i loved it because it
reminded me of my first interaction
with the computer um i was whatever
seven and it was 90s and my dad
bought our first pc and it was so
cool i had no clue what i'm doing but
it was just so exciting and the only
thing i remember is this uh figure of a
boy pissing in a fountain so um this
kind of an image that i had when i
joined uh frintech my partner is super
deep in the trenches and cryptos he's a
big big
shitcoin trader um so i lose him um for
shitcoins sometimes and um he told me um i
was in the gym and he was just like you
have to download this app right now
i can chill down bro it's like it's not
going anywhere he's like no no no you have
to download it right now come back home
download it because anyway um i joined it
really loved um it and it's um interesting
to see
the development the change of um social
dynamics in the app and also um and then
we became kind of friends with uh pancakes
and um i just love seeing um a little bit
from the inside how they fix things and how
quickly they react on um i guess
come i mean i i was just like one of my
obviously like one of the biggest problems in
the beginning was that nobody could see
um other users messages and i was just
like yeah that kind of sucks and he was
like yeah we're working on it right now
so that's cool that's not normally seen
bigger apps like um instagram or twitter
they usually don't give a flying fuck about
you uh so that's cute um and i generally
really love small communities um so it just
fits my my type of personality i'm more um
more like um hermit type person uh don't
feel good in crowds unless it's um it's a
big rally or a riot type situation um yeah
so i'm enjoying it yeah i agree with
nagia i i think the idea is a good one and
i i think i want to follow it and see
where it goes i i've been big like i i just
like really enjoy following different social
trends and social media companies as well as
some of the more web3 related companies or
platforms like lens and deso and i've been
following them for some time and when
frintech popped up i really thought you
know this is a really unique idea the whole
you know where you have segmented off chats
i i do think they could what could work to
their advantage is if they did allow for
people to post public content as well and
have some kind of feed i think that would
help with discoverability and allow some of
the smaller accounts to build themselves up
without having to do so on platforms like
twitter i mean x uh through you know spaces
and through posting i i think that's
something i would like to see i don't
know if that's something they're going to
eventually do or not no you guys feel by the
way before i before i give it back to you
guys if any any of the speakers uh wants to
drop off out of their own uh goodwill we have
uh fero and orly waiting to jump on as well but
like no pressure if you guys want to stay on like
stay on but if anyone is like needs to leave or
something um that would help us because then
we we free up one spot do you guys feel like
there's anything apart from what you mentioned
already that they could change to get this
like more adoption outside of the crypto
circles because in crypto it's like it's
it's doing great it's like it combines a lot of
stuff that pull-on dgens want to see uh but
obviously i mean it could be successful just
within crypto but obviously it would be great
if um if it actually touched more people and
you guys think the way it's the way it's
structured is an impediment for that or could it
work i i think it is right now but i think
there's things they could do like right now
you need to know crypto in order to create an
account i mean there's ways around it right but
those people who don't know crypto are probably
also those people that aren't going to
research and find ways around getting onto it
without using crypto or ways around learning
crypto so i i think that's always going to be
this barrier for i don't know if he cut off just for me
me okay he went yeah he went mute
i'm gonna hop off so uh drago so you can you can add
someone all right got another meeting thanks man
good luck you guys bye-bye yeah we're deep in we're deep in
requests too and you got another shot if you don't
got nothing i'm gonna cap you we're gonna bring up some
peeps here comes the spite sale
yeah so uh i think two things are working against each other right now
right for like mass adoption or like one thing is working
you know could work in favor of like larger adoption one thing's working
against it so the thing that's working against it is like
the rising tvl like just the prices have to be
fucking insane to most people like no one's going to pay like this much for a
chat and like it's not even being valued based on the content right it's a
farming game so you know and like this on-chain
signaling so that's kind of like the game that's being played
at one level but at the other level you have the bonding curve which kind of
you know uh forces attention and price discovery
down the curve to the higher beta part where it's like easier to get a
multi-bagger and that works in favor of like you know uh you know
onboarding people because you know they see that uh you know that
appreciation or you know engagement and that
establishes a pattern you know of behavior so like that that works in
favor but like i i do think the farming aspect and like
the tvl the fact that it's like such an attractive yield potentially um you know
that that that changes the game quite a bit you know beyond what like the way
most people think of social media
would agree and i think so i i capped ed and alec down there as a poker player
who's written up some thoughts and talking about sustainability and stuff
with the platform i think it'll be interesting to hear from
until he's ready to come up loop i know you're my dude you give some
thoughtful commentary you just signed up a few days ago how are you feeling
yeah what's up guys yeah uh i know you've read but drag us and levi i don't
read matt so great great to meet you guys um yeah personally i think the thing
that worries me right now is like the the hyper financialization that seems to
happen very quickly in anything that's considered a financial instrument
and you know you see uh you already see trading bots you see
trading dashboards like i think we are going to get to a point where
many people will come onto the app uh and there will be bots buying keys to try to
trick them to buy somebody that they know and then you know as soon as they
ask you know the entrepreneur or whoever whatever it is their question uh you know
the price is is down heavily uh because they were you know basically used as as
exit liquidity so i i think i think something we have to think about is like
how is that going to affect it you know if you're a creator on there and you're
trying to have you know a reasonable chat for me at least like i i want people to
come in there and ask me questions uh and then once they're done ask me
questions just to sell my key and hopefully it's at around the same you
know price as they bought it uh and it's you know a nice cool exchange if
they want to stay in there longer great uh but you know that that gets clouded
very easily when you have you know people that are
death like they're they're desperate to trade like crypto traders and nfc
traders have been waiting for something to trade for so long so i think as a
creator like one thing that that i'm going to be trying to do is trying to make it
very clear what my goal is on the platform very quickly and i'm going to be
doing some experimentation over the next few weeks of what what it could
actually actually look like but i i want to be super clear with the people that
are buying my keys because you know i i think it's very possible that you know if
if you get you know in the trending your key skyrockets in value and then it
dumps and then you have a lot of really unhappy people uh so to me i think i think
like the the hyper financialization is only going to make it more
difficult and i think it's up to frintech to add incentives but for me i'm not
somebody who's ever going to rely on a platform like we've seen with seen this
with x you can't rely on a platform to make it a good place right so to me i
think it's you know as a creator you have a lot of uh responsibility to make it
super super clear exactly what you're trying to do in the platform
yeah i love that man um hey everyone my name is alex torelli i've uh
been on frintech a little bit i was on big cloud a couple years ago or d so
i saw ed here too what's up ed uh we were kind of early to that platform
one of the things i was concerned about too is just like totally off your point
is just the financialization of the whole thing
whereas like i think for a platform to sustain
we have to separate the intrinsic value of what
someone is buying from the speculative value and so right now i feel like i have a
lot of conversations with people um you know about frintech and their
primary motivation for being on the platform is financial profit and there's
nothing necessarily wrong with that i'm not like criticizing that motivation
that's fine ever you know crypto everyone wants to
make money that's just fine the issue is that it's going to create a
lot of speculative demand for um key prices and so who's the marginal buyer of
a key when the price is you know four each five each six each it's like a lot of
those people that are buying keys that are expensive are looking to flip
that key and sell it at a profit whereas like what you said yeah sure
there's some intrinsic value in people wanting to chat with
people in their groups and there are even some things you can do that i see
people experimenting with like for example i'm a poker player so some things
that people in the poker community are doing
are like hey i'll give you a one percent free roll of my next tournament
for anyone that buys my key so you know whoever's in the group
they'll do a lottery or a raffle where they could you know have a free
percentage of your earnings they could win money they could have a coaching
session with me or other other people in the poker community those things are
working well because you're you're kind of creating your own incentives for
people to join your group but at the same time i feel like because a lot of the
demand for keys and people on friend check right now is just hoping that more
people come in to increase the tbl and kind of the rising tide raises all boats
i'm concerned there's going to be like a washing out phase where as people are
farming the airdrop which is creating even more speculative demand for
friend check in general like at some point there's going to just be a washing
out like we saw with ohm uh like we talked about earlier where a lot of
people leave because they've they don't feel like more liquidity is coming in or
they they feel like they farmed enough of the airdrop and i'm just concerned
about that and so i'm like i want to be clear like with my followers too like
what you said um just about the reason for people buying the keys to begin with and
just as long as people are transparent about the risks of of doing it i think
that's a good place for creators to be i'd be curious other people's thoughts on
this too like of where they see this going i think everyone's bullish for the
next four or five months because the airdrop so that's going to bring in a lot
of liquidity what about month number five month number six when there's not the
speculative demand for people to farm there's not the speculative liquidity
coming in like where does that take friend check long term and um that's
something that i think you know we've yet to see and and uh play out but it'll be
interesting anyway thanks everyone for for your thoughts so real quick thought
um so i don't i actually disagree with the people wanting to buy higher price
keys to flip them that's actually probably the worst decision uh to do so if you buy
a higher price key you need it to raise a lot a lot higher um so if someone's
looking to flip i'd actually from not financial advice my own my own decision
would be to buy lower price keys especially looking at the lower ones that are
probably doing three three if i was going to flip um i'm not necessarily a
flipper though because i think all of them will continue to rise up until a
certain point until the farm is complete um and this app is still alpha beta
right they didn't think they'd get more than 10 000 users they're up to 150 000
plus now right so brett has said this before um i think it was yesterday even
yes they do have like four to five months to really see where they can take
this and i think that'll dictate where where and what will happen come month
five or or six when they airdrop uh pure pure speculation i'm assuming that they're
going to do a token but we we don't know for a fact right so let's see how they do for
the next four to five months there are things i cannot say that i know about that i'm sure
some of you also cannot say and know about that make you feel really confident in it
um i know that cl the cat 207 he is extremely bullish on frintech and therefore
if cl's in i'm in because he's very very um it seems like he's very risk adverse so that also
gives me some more conviction too but summarize uh yeah buying keys is that are high price is not
a great idea for flipping um good good potentially quote-unquote safe bets if you're trying to
max your farm out for points and you have a lot of capital you're trying to do
hero exactly exactly so yeah yeah totally agree and i yeah i'll leave i'll just jump in and say
one thing um but i i do think app works at both levels uh we've gone from level one where it was
more about like content consumption and networking and chatting and we like we were talking about like
you know jokingly about like fundamental friend investing and just the benefit that you get you know
from like uh dm access to someone and if you amortize that instead of like just doing a
subscription so like i do think it works at that all but yeah we're we're at on the high price keys
we're like there's just a different game going on it's a farming game so i think it could work but
the question is just what's the trajectory and what's the unwind because we've only you know played
the game in a favorable liquidity regime so hero i actually agree with you i should have i misspoke
and you i'm glad you corrected me i agree that buying high price keys is more risky i think if
you're thinking about keys thinking about the mitigating the downside risk is probably the most
important thing regardless of the the key price again not financial advice just kind of how i think
about it but one thing i would be curious to to you guys as a question um and i didn't mean to come
off like a friend tech bear i love the platform i love this idea i was early to bitcloud too i
actually love decent we want no i'm not i'm not bearish i'm just i'm wondering like that we want
open critical conversation here so like don't feel feel afraid to be bearable whatever so a fair like
constructive criticism question i have is just like if dso and bitcloud failed like i guess i would say at
this point it kind of failed to get adoption it had that huge hype cycle when there was a lot of
liquidity in may and march through the summer of 2021 like what what's why did that fail and like
how how is friend different enough i want that it's not it's going to overcome that i would be curious
to know the parallels between them i want to answer this one go ahead please thank you so like firstly
i actually wanted to reply to what you said before like i've been putting out a lot of content around
front tech and i feel the need to always put disclaimers in at the end of everything that i
write because i agree with you there probably will be an unwind because everyone is looking for the
airdrop i don't have like inside information i don't know what's about to happen i'm quite bullish
on the app until the airdrop and potentially even beyond i haven't i have to imagine that the team is
super clever they're backed by paradigm and i'm sure they're going to try to mitigate that as much as
they can but i think there will be an inevitable unwind at some point whenever the big farmers
deem that the amount left to farm is not worth it anymore it's it's i think it's an inevitable
crash right and you kind of have to plan for it and that's why i always i always write like know
know the game that you're playing and the risk that you're taking um and i always try to point out
to people hey look like the bonding curve is super steep the fees etc like so that people actually
know when they make informed decisions um regarding bitcoin like i actually played bitcloud i was i
think i was quite early to it i probably didn't have as much conviction as you and ed but i man there
was so much stuff that was wrong with that platform like i don't think doing the layer two on bitcoin
was the right move um you could there was something where you couldn't withdraw like your tokens like
you know you couldn't sell their own like they had their own token that they were using for payment but
you couldn't sell it you could only buy it which was like super sus i had to like sell otc or
something i don't know how i did it in the end i cannot remember um it was purely like purely
speculation on on accounts but there was no chat functionality um and what i like about those are
just a few of the things that i didn't like about it what i like about frantech is that when you have
the chat functionality you can build a shit ton of stuff around it um i think bitcloud also had the
bonding curve um this is just built with eth um it's built on base which i think is super bullish
because one coinbase wants to push base um they're super incentivized to push it and once i don't know
the crypto markets start going up and more people come in it's such an easy onboarding from coinbase
directly to this app um and one of the things that i i mentioned on the points air drop space as well
is that it actually it's actually quite addictive to use uh crypto on mobile and just buy and sell
keys and have instant access to the chat and i just think it's taken whereas bitcloud just seemed
like pure speculation there was one other thing that i didn't like about bitcloud the fact that you
could gamble on people's accounts with without them activating them right because there were a lot
of people who had already like preemptively bought um some other people's accounts before they
actually activated the accounts on bitcloud i might be wrong on that but i'm pretty sure that's how it
happened no yeah you're right and there was a lot of insider trading like not in a maybe that's not
the right word but there were a lot of people that knew that the person was going to activate their
account and so they would buy up their coin and then that person would activate and then they would
they would have you know liquidity early on because they would know ahead of time that person's
going to activate because they would tell all their friends so there was a lot of this
gamification of of bitcloud that happens and i think you're right about some of the concerns
it basically for the people that are kind of new or weren't around a bit cloud is basically just
like twitter with crypto so basically you could buy a share of the twitter profile it basically looked
and felt exactly like twitter um so that's kind of how it was different from friend tech there was no
dm private chat feature um but i think yeah i think aside from the features on a higher level
a product success depends a lot on external factors for example the social aspect of it the time
and whether or not people are ready like before bitcoin existed like there was a thing called digital
cash right and that thing was was huge kind of in the 90s or 2000s and then that thing died
right but then later bitcoin started to pick up steam and bitcoin finally succeeded right like if you look
at the i guess the the features it's not that like digital cash had less features or bad features
it's more like bitcoin was born at the perfect time at the perfect storm and that eventually led
to its success right and so if we think about bitcloud the fact that it didn't work it's not
necessarily translates into the model doesn't work it's just that perhaps you know with the mobile app
and with everything you know in 2023 the amount of user experience the amount of user education we have
done in crypto um to me it feels like a great environment for for friend tech to thrive in the
right direction i also want to say that i love love the bitcloud until it was alive it was really fun
i think you made a good point about the timing i went to dinner last night with a couple people
that are very deep in the friend tech trenches here in vegas and uh they basically said like
look we're on friend tech eight hours a day it's the only game in town and so as a point to the
timing like nothing's happening in crypto right now and friend tech launching just kind of reignited a
lot of people that were on the sidelines for crypto excitement and intent and attention and euphoria and i
think your timing is pretty amazing um given that it's not competing with a lot of other a million
other projects right now that are launching in crypto during the bull run it's happening now during the
sidelines and i think it's reigniting a lot of attention in crypto so kudos to you guys it's
definitely it's definitely the right time and also alec like if we think about it like social games is
always the biggest biggest games with the highest untapped potential and so i think a lot of people
look at friend tech today and be like you know keys are so expensive how do we keep playing this game
like how does friend tech scale to the next 10x users a million users you know 1 billion tvl i i feel like
a lot of the design space is still very nascent and if we think about it fundamentally like social
is the biggest biggest game with the highest potential market cap that anyone can think of
period all right let's pass it on to just talking on the i was going to button up so i talked about
where like things getting stale and it's not things were not only stale in one sector right like the when
it comes to timing it was stale in nfts it was stale in d5 it was stale in yield farming so it kind of
was a perfect storm timing wise for all of these things now converge on this kind of singular thing
you're seeing the nft crowd come in now lately you saw obviously that the big rush was from the yield
boys so i think that's a good point that timing obviously plays a big factor and i feel like in
the big cloud days like a lot of crypto people weren't there it was like mainstream influencers
like weird people like picking up big cloud who are not specifically crypto people but i feel like
one thing that drew me into frantek was that like all of the respectable crypto like giga brains were
actually on the platform and it was like if i see all these people here like i feel like i must try this
out yeah uh buckfather and luke you guys have anything good yeah i i just wanted to say like i guess then
like simplifying it and from like a high level i guess the whole what what racer and paradigm that what
they're trying to incentivize us to use this thing until it becomes lindy like anything else and it's
just like we really just need some kind of positive catalyst at the end of the airdrop
you know like whether it be just macro looking bullish people get money to gamble even more to just
keep it going even longer right whether it's healthy or not i don't know but they they just need to buy
time you know who knows what the no one's even talking about if there is a token let alone like
what the token will do right we're just like you know let's like we're gonna get something we're
getting free money and it is kind of likely like we do need like some kind of pivot point and you
know i'm not going to prepare this to uniswap but that was kind of a moment like it's completely
different different circumstances different platform you know but like giving people money for like
using this app and you know hopefully no everyone doesn't get wrecked too like i mean people all
you had to do is like you stop once on you so i think that's 400 tokens um you know it might turn
people off if they like buy in week 23 and get wrecked by people dumping or something that might
so i'm rugging for anyone else or is it just me oh major defect yeah you're you're oh you're rugging
oh team maybe loop i think one thing you could do for the token is just like make it so i mean the
team is smart right they know that a lot of the people that are in there for better or for worse
are there to farm right that's just the nature of crypto so they could obviously make some sort
of mechanism where the farming is not gamified to the point where people can just exit a week before
the airdrop and still get the same benefits as the people that don't exit so there could be some
you know everything's speculation right now we don't even know that how the airdrops can exactly
work and then i think the second thing is just the utility of the token could be something where
like if you stake it you know maybe some of the reflective tax on the buy and sell is mitigated so
that there's an incentive for people to like hold a certain number of the tokens or stake a certain
number of the tokens or lock them up so that there's not this just huge dump and that also creates
a little bit less friction for people to use friend tech because they're they're they're
benefiting from lower fees because they have a certain number of their own tokens um so i think
there's some things the team could do to kind of mitigate against uh an airdrop sort of typical
situation where people are farming and dumping and stuff like that so i think there's a lot of
things they can do to get creative but anyway guys i gotta run thank you so much for the talk
uh come say hi on twitter much love everyone and uh keep up the good work friend tech see you guys on
there thanks for coming up let's thank you before i forget bog i'm gonna kick you request back up
we'll let you back up just to reset your mic all right let's uh go to lupus he's been i think kick
him and leave him down loop you've been wanting what you got to talk for a while and then let's move
to the next topic me i was just playing i just said kick bog no no loop loop has been having his
his arm loop yeah get out of your comment uh yeah i mean i think if like you talk about
like there's different models like i i think to levi's point like there's a there's so many
directions you can go with a social game and for for friend tech like i think the biggest question
is like how are you going to be different than the next chat and like there's one thing we don't
know we don't we don't exactly know what type of uh features friend tech's gonna add like you know
potentially uh everyone you could flip a toggle that everyone could see everyone's messages
uh which is good but you know you potentially just run into the same thing with discord where like
if you have too many people in your chat it's impossible to have any type of conversation
um which is you know i don't i don't think that's very fun but now it's also like you can't really
build a community if nobody else can see anybody's chat like i've seen people do interesting things
like they're they're a twitch streamer and during you know they're playing fortnite or whatever
during the the lag times they'll go and answer people's uh messages on friend tech and talk about
it live on stream uh because it's almost like all right you know you want access to me and you
want me to say your name on on twitch okay you know don't give me five bucks on or whatever it is
bits uh but do something like i think it's just going to be like a race to who can be the most
interesting uh in their chat who can be like the most uh you know forward and and think of like
cool interesting shit to do with your chat so since you mentioned i feel like as friend
yeah go for it yeah go ahead okay i'm just going to comment real quick like right now like everyone
centered around how to make their chats interesting and like engaging right and it's all on a content
level but as the app matures like i fully see this becoming sort of a reputation price right so if
someone is well known in the industry someone's incredibly resourceful even if they don't talk
on the app that much right but if you look at someone like gary tan the yc ceo i feel like he's
going to be worth something right not the most expensive but he's going to be a high price key
because the amount of resources and the real life reputation and just who he is that attracts huge
amount of people who would want access to him so i think long term we're definitely going to see that
playing to affect more than just the contact content side of things i think we need to have
both though because you need to have some level of the the dream of like all right i was nobody before
friend tech uh but then i you know leveraged it uh but yeah i agree like i think i think the perfect
use case is like i really want to talk to sam altman uh and i'm going to buy his key when he joins
for three eth ask him six questions and then sell it for three eth and i lose five percent so i paid you
whatever whatever that is uh and like that's that's a pretty nice trade to me all right for
sure yeah i think that's a good point go for it go for it just uh yeah i yeah ansem's coming up now
uh i i think it's important to call that out it's like not not trying to blow this thing out because
i saw luke do the thumbs down earlier and i i did it in my heart too where people see this thing and
they try to blow it out to like creating a huge community and doing all this stuff when it which i think
and levi you've talked about this in the past too like the simplicity of it is is ultimately what's
going to let it like really propagate out because it lets everyone understand the box that it lives
in obviously there's an upper bound whenever you keep it confined to that but that ultimately is i
think the superpower here so keep it to what it is like this exclusive thing it's not meant to be
necessarily a community building tool and we shouldn't try to like force it down that path
although you know it's public ledger composable the power the the lower level can actually be some
of that but it's never going to be the thing that is the 10 000 20 000 30 000 thing
i mean threads threads was meant to be that was meant to be like basically twitter but take away
all of the features and make it super simple in this tiny little box uh and it didn't keep people's
attention for for a long time uh so i think like you know you have something similar here we have
cool interesting creators like i i do think they're going to need to have a lot of cool models that you
can use if people are going to actually stay and you know keep the app sticky now i think i'm doing it
wrong because because i feel like i built a really cool community now i'm hearing that may not be the
way to go about it but well you can't but like it's the size when we think community in this space you
know we're talking 10 000 pfps and like beyond right then but i you know i guess community could be any
size really yeah it's like only a few hundred people but i get what you're saying no i mean like
it's 100 people is completely correct and i think and i think frantek does have that aspirational side
to it as well because people look at me people look at hero and like we didn't necessarily have
a big name before frantek so when people look at us and seeing how we are able to rise to ranks by
by grind by like binding top accounts and engaging with them and like distributing content and i feel
like that's inspiring for people and and frantek is doing a great job on that front as well
valid points really good points i wanted to go to well actually there were two more things on my
agenda one was something that levi mentioned at the beginning of the space how do you guys uh are
how are you guys planning to provide more value to to your rooms are you thinking of anything specific
and i also wanted to discuss watch lists because i think i mean it's just been introduced today
and i think it would be interesting to discuss how this could uh change the game a bit um we should
uh we should talk to ansem because this guy in his chat is proposing to put his holders on a cap table
to like invest in c deals with him so let's hear you talk man i did not say that
i heard i heard you're giving like 100 of your airdrop right i'm a key holder just do it i heard about
two actually that sounds very very legal hair legally hair um somebody somebody asked me like
so i asked my holders like what she what can i give to you guys and somebody was like i don't have
access to pre-sales and stuff like you do so how can we get access to the same stuff or like similar
stuff that you have access to um and i was like i gotta think through how i would do that but like the
easiest way for me to do it is just have the protocols handle all the giving out access because they
have the list of all the key holders if it's not me that's initiating everything and being like i'm
gonna give you this um people reach out to me that like can approve and whitelist my entire list of
addresses for whether it's a pre-sale or like nft men or whatever um i've had a few of like a few
protocols reach out and do that like asset dash the wallet um portfolio tracker gave gold to basically
all my holders um i talked to battlefly the game today and they're gonna give out like starter packs
um to all my holders for like and while i'm gonna play in their tournament um which is like
their invitational like it's a pvp game on arbitrum um so stuff like that i can i think it's pretty cool
to do if you have kind of influence in the crypto space um but i think what's what's really going to
be key for this app to grow is how the frintech team works on establishing those relationships
between non-crypto people and their super fans so you have manifold right now which can do the
mev launches um for people kind of avoid the snipers which is really important but the second
part is it's mostly just crypto people on the app right now so how do you get if you say if you
onboard like i don't know like some some big big name i'm gonna say taylor swift she's the easiest so
say you onboard taylor swift taylor swift has a ton of super fans like if you take her whatever
10 million 100 million fans you take that 0.0001 percent of her fans how much are they willing to
spend to have lifetime access to taylor swift and whatever she wants to offer them whether that's like
lifetime vip uh like meetups in person like whatever all those things but i feel like that
needs to be organized between the frintech team and these artists and it has to be done in the in
the right way because if they just join the app they make 100k but they never really talk to their
fans um i think that's net negative rather than net positive so i think the onboarding flow for
non-crypto people is really important that's something i've been thinking about um need to
talk to pancakes and racer about that but yeah i've been thinking about like how to how to drive value
because we know how to drive value in crypto because like i talk about coins all day that's what people
want to hear me talk about um so it's not hard for us but it's different for non-crypto i feel like the
the most important question to answer for those mainstream celebrities especially mega celebrities
is like the longevity of it right like i can totally see like taylor swift or like someone
coming in and doing it like one time right but like how do we keep them on the platform like a month
after they sign up like are they going to continue to come and still give you know value yeah it needs
to be like a plan like it it's kind of like a launch it's like a launch of basically another platform
um like when these artists do their their ads with these different companies that's like some
some contract that they have i'm going to do this over this set amount of time and do these
appearances it should be the same way with like frintech because they're going to get paid so much money
just for having an account on the platform like it's a six-figure seven-figure deal if they do this
over a certain amount of time and it works well so i think it needs to be talked about in the same way
that you do um like ads with big companies because they're getting paid out the same way it's just
a different kind of relationship building it's like it's like i remember the ja moran nft drop like
i was so hyped to get into ja moran and then like he just like dipped he never said anything in the
discord or anything did he pull it down though it happens a lot with crypto like we we can we get
celebrities in but we don't do it in the right way or it's like just their name to be on there and they
get their paycheck and then they don't do much else so i think it's this is really cool and that it
can you immediately have a relationship with people if you do it right and it's like a tight-knit
community where it's not just like 10 000 nfts and they're not really talking to to you um so i think
this is a way you can do it differently than it has been done before yo anton that's a that's a
really cool i haven't even thought about it like that but it makes me just immediately think of
like how kick is starting to take streamers from twitch where they pay them
like an ungodly amount of money like streamers are making 50 million dollars to stream on kick
it brings users over to kick like there's definitely a future where a friend tech can
keep printing money off these trading fees they could pay someone like a taylor swift or whoever
and say hey you have to log into this app use it for a month or two get all your fans on here and
we'll pay you some fee like more than the trading fees it's almost like an exclusive deal of like hey
you have to tell your fans you're using this app and get people on here and i definitely i mean that's
something that that works like that's what kick is doing that's what rumble has done and uh for a
platform like this it makes a ton of sense we're basically funding the yeah i was just costs like
the future business development costs with our fees with a crazy situation i was i was just going to do
the the bearish case because like unless you can do that you know i'm going to say you never get any
of those major celebrities right because like why would anyone of that caliber even give a shit about
you know 50 60 70k or whatever the fuck it would be right you have to go gargantuan numbers that'd
be interesting potentially why they have such high fees right now i mean i would keep posting on
frontech for the next year and not use twitter if they pay me 60 mil just throwing that out there
they don't have that state they don't have that offers on the table
i'll take 59 mil bro i'll take one mil less than you that's what kick is paying i don't know i mean
i see nomad down there in the listeners what's the he always says five bitcoin yeah i don't know
the office we're gonna get thrown or you had your hands up for a little bit what's up dude
hey friends amazing listening to this face it's it's it's a pleasure every time um i i had a few
things i want to share with you guys um and get your your thoughts on um one thing i heard like people
talk about hyper financialization uh being an issue uh personally um i think or it is inevitable
uh hyper financialization is like a feature of crypto and you can't can't ever exclude that like
everything in crypto is by nature hyper financialized and i think we have to just embrace that instead of
being afraid of it um and the second thing was um like making sure that frantic doesn't die
after like the airdrop like how do you make sure that frank tech doesn't die after the airdrop right
um and like the way to do that is like just think about like what actually drives value to frantic
like for me um like getting like taylor swift on and like all these guys is it's it's cool and so
right but like for me it's like a web3 maximalist or like crypto maximalist um what really excites me is
that we had like this defy x nft crisis right um where like we had defy and it was crazy and then
we had nfts and that was crazy and the first thing we had was like gamified defy right where we had uh
i don't know avogotchi and all that stuff and then we had gamifying defy where we had like dfk
everything right um and then from that developed like axie infinity like loot and like we even had
crypto kitties before that etc but what i'm saying is now we have parallel right now we have fully on
chain games etc and it's like at the crossroads of defy and nfts right and it's like gaming game
fire right now and what i see now is like a complete new sector right a complete new sector
of in the intersection of social five xd five and now because we have nfts we also have nfts and
social five like nft fire whatever you want to call games and social five right so i see
frantek as the base layer right as the base for everything to be built on top of right and that
is what makes me bullish of course all the connections make me super bullish like all that like being able
to talk to the y combinator founder right to to onzim sadly i fucking sold this key i need to buy it
again but um yeah like um this makes me super super bullish um and like who's building stuff right
like people are talking to onboard stuff and all this stuff there's very few people actually building
stuff a lot of people are talking about from my pov a little bit more irrelevant stuff which is like
airdrop and how do i farm this airdrop the most efficient um that's cool um like if you don't
think anyone's building stuff i was about to say i see a shit ton of stuff being built my man yeah
yeah wait one sec one sec one sec what i do see build is like dashboards right dashboards and that's
i love that right what i want to see build is stuff like i do you remember in the beginning like
frantek.game right do you manage like friend pet uh maybe stuff like i mean i dropped off fun
i know what you mean in the sense that you want projects to be built on top and i think it's one
of the points that i made on friday on the space that it's super early yes yes we don't even know
what's being built so far it takes a bit to build but i'm sure yes i'm sure can i can i make a
proposition here drag us yeah sure can i make a position here short because i want to go into the
next topic yeah very short very short very short um the short proposition would be like we all know
that something is coming for frantic right it's going to be huge like we all feel that there's
product market here everything right like what i propose it's it's too risky to test it all with
frantic right what i would propose is to do some kind of kusama style frantic which is completely
aligned with frantic itself and then to experiment on top of that and if it works use the things that
actually worked and that didn't work you exclude them but those that actually worked implement them
into frantic right you can do that in girly testnet airdrops in girly eth you can basically
copy paste frantic onto girly base or whatever yeah and then test around there that's basically
anything i have the perfect i'm pretty sure someone will do this eventually right but it's actually
really easy to vampire attack ft no no don't don't vampire attack though we don't want to vampire attack
okay we're distracting from the topic and this is getting too like too parallel to what we're
discussing orly put that stuff in a message we'll spare it around appreciate but i don't want like an
entire debate on this let's like get into the like what we're discussing before um do you guys want
to talk about watch list okay okay thank you for listening though thank you so much i just don't want us
to go off kilter too much um right let's talk watch list what do you guys think about watch lists
um i wrote foolish more metrics yeah so it's good but i i don't i don't see the conversion happening
yeah maybe it's too early right like maybe it's just like it just happened today but i don't really
i see the watch list number going up and price not really like how the hell maybe it's a low point five
right how do you add something maybe it's like a low percentage conversion
i'm super curious why you would ever want to add someone to a watch list like if you want to buy
an account doesn't everyone just buy the account like what like does do you really want i don't
have the liquid so for levi for example he has 3 000 accounts yeah he's gonna want to have a watch
list of the ones that he wants to follow bro i i was i was super excited this morning because i thought
i thought watch list meant you can pin like the most important chats and i was like yeah yeah
like i can like i don't have to scroll through like thousands of chat anymore i thought and then
like i realized i thought the same thing and i was walking my dog i was walking my dog and i was like
am i retarded like how the fuck do i add things to my chat like i was trying everything same and i
couldn't figure it out and then i see someone mention no you're not and then i see someone mention
like oh you can add keys that you don't own and i'm like what the fuck is that and then i was like
what that doesn't that's like useless to me all right also i think watch lists are watch lists are
you guys problem they are if that's what they built these for no one gives a shit how many people have
more than 50 keys right now that's true i would say the majority of you guys are on this basis so
if watch lists are going to be valuable they're going to have to be more than just like finding the
top chats and i don't see the point of them at this point um maybe somebody's got it got racer
and the team's ear and they're like hey i need a way to organize my chats because i'm getting
overwhelmed and that's why i've been very selective with my whole three three i probably have a very
high defector score sorry guys like unless you're giving me a reason to keep your your key like i'm
going to bail um and i'm i'm trying to use this this app uh for the long term like sustainably
you have to make it sticky somehow and for me it's like i need to get valuable content from the keys
that i'm holding um so i have no problem reading through my you know my uh unread messages every
morning and trying to keep up during the day the same way i would with like twitter and that's how
it's gonna it's gonna convert me over uh to frintech full-time bro being able to organize chats would
be a thousand x more valuable than the watch list but who knows maybe the watch list will become
something cooler i don't know how are you guys using it interestingly enough like i i used it because i
had like 50 or 100 like rooms open that i wanted to look at and i just put them on the watch list um
like i saw people talk about it as like potential buys right um um interestingly enough what i what
i think about that is that can be super easily bought it right you can just create like 20 50
accounts and put your account on everyone's watch list um and then you have like infinite potential
buying power question mark what if you could actually so i don't know if if this could be called
by the api what if you could actually see i don't know like how many keys total the people who
watch listed an account hold or something to kind of like separate the bots from that i don't know
i think i think the pain point right now is that like first of all if you want to watch the expensive
keys that you can't afford you can find them on the leaderboard very easily if you're if you're
trying to watch the accounts that are cheaper you could just the best approach is to just buy them
right then because um at least that's how i've been approaching it so it's kind of like you know
like if you're trying to watch an expensive key you can already see but the cheaper ones you should
probably just buy right up right then why just introduce this feature yeah oh yeah go for it go
for it go for it um you said true lmao i'll talk to them about it because i look when you said that i
was like well shit this is awesome because now i can pin people because i have 300 rooms and i
have like 50 i want to really keep up on but that's not how it works so maybe he'll maybe it'll change in
their future hopefully yeah it's like that one switch like this feature is so sick they just
need to switch it from accounts you don't own to accounts you own if it was a watch list of accounts
you own this would be the best feature upgrade they've made yet they're just do it for everyone
like you can you can watch everyone you know simple fix i think what they could implement well
at least what i was thinking of they could literally have it in the same chat tab but just let me
favorite chats so like i can favorite certain chats and have those be at the top and that could
be different from the watch list i think the watch list is cool like i put some people on there that
i've like been thinking about buying um but there's so there's so many people on the app now it's like
i can't buy everybody i already have like yeah 280 yeah 286 keys not as much as levi but i still have
a lot um but yeah so it's helpful for me in thinking am i on your watch list am i on your watch list bro
you're like top three fun little bug for you guys since you guys are you guys are you guys are
building out your watch list uh if you watch them and then buy them they're then permanently stuck on
your watch list so make sure you unwatch them before buying yeah i had that problem like they
didn't do either forever there like that's oh my god i i can't find a way to undo it
wait so sell sell them sell them eat a 10 percent tax and then rebuy them when you buy them if they
were on your watch list now they're stuck there like let's say you buy them can you now see their
chat i can't see their chat but remember like where the watch list toggle is right it's when you
it's either buy a key or watch and now i no longer get that prompt because i go straight to their chat
why did they add this feature i don't get it there's so basically like how do you even search
then you have it on your watch list then you have to remove i okay you can remove it on the
like before you buy right like below the buy button yeah it's the only way i can think of
actually working out but anyway cool feature it sounds like like we're on agreement that if it
was actually prioritizing the chats that we have and can like spend time in meaningfully that would
be the preferred thing so hopefully they pivot towards that yes very bullish on that all right
um i guess last topic before we do some q a uh levi was asking how you guys are planning to
provide more value into your rooms and i guess since we had this like mini sell-off and like all this
like self uh farming tvl coming through and i don't know about your portfolio as mine is kind
of stagnant i'm not seeing like too much movement up or down how are you guys looking at that any new
cool ideas dude they i gotta i had a jeet rain down on me last night out after thread guy space i don't
know if he's still down there i'm these guys were fun three three the whole time and i came out of
there with like eight people dumping on my heads so shout out to those guys just attend a thread guy space
if he wants a volatility that was so funny the end of that space is was hilarious if you can watch
listen to the recording um i don't know i would just see if any of you want to introduce like a
private hentai channel that seems to go really well for a lot of people uh so that would be my
recommendation for value okay thank you i'm copying that so i'm copying that this i mean this ties back
into what levi has talked about several times right like if the ultimate goal is portfolio value
to go not not hentai but what i'm gonna say what uh what the ultimate goal is right if you want to
climb your portfolio value which means obviously you want to give value to your holders which means you
want to avoid them like jeeting out of the actual ecosystem you have to find alternative ways to give
them liquidity right like that is ultimately what it's easier like so either strong social bond right
they figure they're your homies and they feel super fucking guilty from leaving or they they like
have access to something so there's that or you do things to provide them with liquidity whether it's
like access to stuff that they can trade through an nft or like what ansem's doing where he has like
you know doing alpha stuff where you can get some flips and shit it's like giving people money through
your shit in whichever way is the third prong of that so i mean you gotta just look down those avenues i
know people are talking about access to tools like partnering with stats sites and shit like that which
like that's cool but you know i don't know i don't know how long that goes um so you get yeah i don't
know i'm looking at that ways to try to distribute things to the guys and girls uh so that they don't
have to sell or don't feel compelled to sell and then ultimately just kind of lift all boats thing
so i think um and everyone has different utilities so i i have like utility sorted by category it's like
analytics my go-to is going to be makesy or luke martin or exponent crisis or crypto yield info
and those people always provide valuable analytics for me then i have my traders like loma or rhino
hasaka etc so i think you could categorize people into a different niche um then you have people that
you just want to follow like your matt huang huang i don't know arthur zuzu hal press etc
um and those are kind of their niches so i think just finding your niche and value um even if you
don't and you just want to vibe with friends and have some friends there's tons of like vera chain
people that are really cool or nft people that really don't provide a ton of value they're just
fun to hang out with and talk to so yeah yeah i think um luke has been spot on when he's talked
about like basically finding complementarities between your key holders and then your friend
portfolio so my room uh you know it's a lot of people who appreciate data they're kind of data
connoisseurs so that partnership kind of made sense um was you know i'm not a big partnership person but
it was on brand and so it you know it provided a benefit you know to the people in the room to have
access to the frintech data data room uh you know without extra cost but then it also provided a big
promotional benefit for them so they got like you know 20 key you know like a string of 20 key buys
after the announcement that you know we got a lot of likes on a twitter post because they did a cool
analysis for us so i think basically like finding like yeah stuff within your niche you know like
and some's talking about with the pre-sale stuff uh i think that adds a lot of value so um yeah i just
suspect that like you know that that's kind of like a good strategic way of doing things
you're saying that your room becomes self somewhat self-selecting based on your content and then
you just further that content with with niche you know utilities whatever yeah i think i think basically
that's kind of like the highest multiplier you know value value you can add um because uh i mean i do i do
think like what you know as far as like returning stuff to uh to key holders that's obviously great um
uh and will be super useful but um but i i think it's it's also kind of a race to the bottom once you
start that game you know uh and and you can be a commoditized uh if if you know you select into
basically like mercenary capital uh when when that's the game you play
all right no more thoughts everyone went silent nobody wants to speak anymore i guess i agree with
what makes he said um like you just start with the basics like everybody has strengths right um and you
just start with your strengths and provide value through your strengths and then like my goal is
to provide enough value to my key holders so they like kind of what bread bread said is like that they
never have to sell right um and i plan like from what the the people i buy to gain enough value that i
potentially would never have to sell like i want to gain enough alpha through my chats that i can get into
mean coins early right uh write the right narratives right um maybe get some some some deal flow right
um projects early like that's that's the idea and that's what i'm trying to provide as well as well
right and then like make friends on the way um like like-minded people you will attract them one way or
another like the people that will stick around you and will be like-minded especially in like these
closed rooms um so i think that's really the beauty of it and that's what i'm doing
uh i would say i see it as like three three main different segments i think the first one is just
purely the speculation based on like whatever person's social capital i think kobe and cl are two
really good examples of that like they answer questions in their chat um but they're not really
giving like alpha or anything that they're sharing like a ton of content it's just kobe is obviously
kobe and cl is obviously cl like they're really well known people respect them a ton um so their
key prices are just hot and i think there's a ton of people like that globally that they really wouldn't
have to do anything in chat for their like shares to be hot um and then i would say the second group is
like the subject matter expert so there's a ton of different groups on frintech now that are really good
at certain things like the guy pelion cap he's one of my favorite rooms he's been a trader for like a
really long time and he gives a ton of detailed explanations of like options and crypto like his
thoughts on the market um then there's people like fafty and fajal who do macro stuff um and then there's
even people like d pat who only has like 200 300 followers but he's gone super super hard on
frintech and trading and giving out his strategies on how to make money within the app so there's a
segment of also like frintech specific creators which i think is really cool adjacent to the
subject matter experts um and then i would say the third thing is just like the super fan category and
we haven't really seen that yet but that would be people where they're doing more um like in real
life stuff like musicians and artists where they're like releasing music or doing meetups with people
um and their fans want to be in their chats not because they're giving them alpha but because they
have a close proximity to them and they can answer like get answers um to their questions and like
also get to talk to them and maybe meet up with them so that's how i think of it it's like three
different um main groups like the just speculation and the subject matter experts and then like the
super fan to to create an artist group i love that maybe something to add there's maybe also like the
builders right um like people that build and give you access to like products or dApps yeah i kind of
affect them into a second but yeah they're definitely a good one yeah true oh yeah and
like maybe something in the future is also like like if you imagine like social login and all that
stuff like maybe like when you log in socially with your key or something like people that are very
good in games but like i don't want to drift in that or like any other like collaboration
i think there's a lot of people very hesitant to to make a friend tech because they they don't think
they're good enough at something to to make it a chat but like i think if you if you really think
about it almost everyone is good at something like i have a friend who started one who like he's not
you know successful on uh on twitter on business whatever but he's a really good cook so he's like
sharing gluten-free recipes and like different different stuff like i think there's always something
you can do and like i think just important to carve out um like for me as as a founder i end up
talking to a lot of entrepreneurs each week uh so i share bits and bits of cool information uh in my
in my chat and then i also think it's cool to play around with game theory um so like personally like
as a founder i really don't want to position myself as making money from friend tech because i just don't
think like to me that does that does nothing for for my brand personally long term and uh you know
i don't want the the bits of trading fees so i'm going to be scaling giveaways with trading fees
earned uh every three-day period um and i think that's kind of interesting because somebody will
be in the chat and say you know okay i want to be in here and there's only you know 15 20 holders in
there so i have a good chance of being in the top three and winning you know giveaway this week but
it might be a smaller giveaway or i could get you know some friends to join in the game uh and then
maybe i have less chance but i could win a larger amount right so i think it's kind of cool to like
play and you know just have an interesting game where it's you know it's not high pressure it's not
difficult it's just fun uh and i think we need that like i don't know there's been i think
especially with crypto like it's been down only for so long i think a lot of people are like
genuinely depressed and just need to have a little bit of fun totally agree there so all right this
is what we're going to start entering i said king you have a hand up to give you a quick intro and
then and then we're going to tap into the utility section dragos myself levi if you have anyone in
your room that wants to come up with some wild out the fucking side of the neck questions we're just
going to let that come up we have no idea what they're going to ask so it's going to get weird
uh we may have to cap them if they get too weird but uh king we'll start with you and then we're
going to rotate into that yeah i just i wanted to talk to come at you bread guy because you're
you're fighting our dune dashboards come on man let's hype these up let's uh let's keep pumping
pumping key prices and access nah i'm kidding um i just i wanted to talk about a couple things that
people have been mentioned which is you know everyone's finding their own niche um you know what
they're good at and specializing um i mean i've seen like hockey bettors like you said gluten-free
recipe you know creators everyone's finding their niche and kind of filling that mold and
and therefore like makes you said people are finding their way into your room based on what you like
what they like and they're sticking around when it fits um i think that's just a natural progression
of the app and personally i'm super excited to see you know like some of these accounts gain more
value um and potentially hopefully see a trend away from you know essentially the rooms that are
only offering like you know like i'm seeing new accounts pop up there that are offering three three
and they're flying to like 0.6 0.7 e i'm tracing back like two transactions and seeing it's funded from
a previous account that had rugged and then just sent to a new account and you know and it's pumping
price and i think for frentech to be sustainable um you know we need to see that these rooms are
actually adding value in their own personalized way in their own vertical um you know they're the
ones that are collecting users because it's you know you're you're finding your niche you're gaining
value you want to be in that room and uh so i i definitely like i love three three i three three
sometimes like you know people that i value in the space i'm not totally funding it but i'm excited
to see the shift in funds which i believe is going to happen from you know just accounts simply that
are high in price because they three three two accounts that are providing value to a specific
user base or like followers in their group that you know enjoy that that content that's actually
something that i think we like luke may see myself at all and levi everyone actually just talked about
like we have a runway ahead of us where this thing like if we if we don't give it energy there's a very
high likelihood that we form very tight clusters of people that you know if the whole three three bond
thing happens then like yeah you can you can risk our face and downside risk so i think it's it's on us
to be openly vocal about the fact that we need to actually diversify outside of our given networks and
and connect with people mindfully as opposed to just blindly because someone has a thing in their
in their actual thing so just trying to be conscientious of that and trying to develop an actual network here
of people that are actually contributing because that'll hold up much better than a bunch of people
that are solely here for the three three air drop meme although that is like a legitimate thing that's
going on here so one of my favorite rooms is kobe and i it's definitely not worth twelve thousand
dollars but he posted a picture of his house the other day and he said find my cat and then like the
next day later he said actually there was no cat in this picture and he's just hilarious like that right
so even though it's the worst probably twelve thousand dollars i've ever spent to answer this
point you're getting to talk with people that you really don't get to talk to normally and i think
that there's a lot of value there wait i'm pretty sure i found a cat what the hell yeah there's i don't
know is it is it is it schrodinger's cat so like if levi believes it's there he actually found it
and you were skeptical so you didn't yeah but if i had to summarize like all this conversation
yeah find your niche um you can either buy people for friends if you're a new account starting out
i have a lot of people messaging me saying well i'm offering graphic design or i'm offering photo
shoots and this and that well you're right it is pretty hard right now to if you don't really have
capital um it's kind of harder to play the play the game and for farming it's absolutely true
um but i do think the apple evolved to have people be able to find the niches and be discoverable in
the niches that they are going for so cannot confirm real real quick to go for it makes real quick to
brett's point yeah thanks um frintech i think is uh you know it's a social experiment on forming a
society based on a bonding curve basically and uh you know everything's emerging in a social
social network we don't like know what direction this is going to go and it a lot of it depends on
the behaviors of the people playing the game so that's kind of what makes it so exciting um yeah
and that's yeah so i think you know for the people that are committed to it it's it's going to be a
really interesting you know five more months and we'll see what happens all right guys we've been
dragos you have any you have any q a exactly two hours before we go into
q a i kind of messed up i should have created i realized that i can't create a space while i'm on
a space but basically uh we'll be doing for everyone listening we'll be doing a live coverage of the
points airdrop this friday as we did last friday and it will be a regular thing you have to really
appreciate that because i will be in ibiza and i will find some time at 1 a.m or whenever the fuck
that will be to jump on spaces with you guys so those are the sacrifices and we're not going three
hours yeah you were like 4 4 a.m last summer ain't doing that shit again yeah no we're not
going three hours and it's gonna be better because i'm gonna be one hour closer uh it's gonna be one
hour earlier so it's gonna be it's gonna be okay it's not gonna be as bad uh but i'm gonna create
a space right after we jump off this one and i'm gonna tweet it so just make sure to to find the link
and like hit the reminder button the only reason i mention that is because we don't have like a fixed
time when we start so as soon as the points drop we're gonna start the stream because if we start
like earlier or later um it's not gonna be worth it like just waiting for them to drop the points
because it's not at the same time every single week okay now uh if anyone in our rooms has questions
we can invite them on i have nico from my room who's like sent some questions before the space and
he's requested to speak for like two hours now but i'm not sure if he's still around so i'm just gonna
try this out and see if he's around i don't see him and i have memetic power from mine i also don't
see him in the request so nico's here he's a speaker now but i'm not sure if he's around
well he because yeah if he requested to speak i see him yeah cool yeah unless he unmutes himself
but yeah with the q a let's just do it uh let's not like waffle around uh ask a quick question and
then we get like a response we don't get into debates like last time yo nico are you around
yeah thanks hey what's up all good all good um what one thing i i would add to what i've heard
before the the fact that the a drop uh might make the activity goes down i think they would probably
do a season points something like blur or all the others that i've done and so i don't think the
activity will stall right away um yeah did you want to ask something because i know you had some
questions on the like in my room yeah i i wanted to ask if some people could talk a bit more about
the team behind front tech because they've made some move that i didn't really understood and i really
appreciate what they built like uh the timing the pwa the abstraction of the wallet everything works
super good but racer when he like said if you use a fork you will be banned for future drops and then
he removed the tweet uh when he uh kind of rugged some aggregators without it's my belief tell me if
i'm wrong but there was no clear guideline or rules regarding aggregation and some aggregators they ended up
kind of not banned for the app but they lost access to their chat rooms or stuff some people were
trying to build on top of front tech and they it's not kind of reliable and so i was wondering
um how was the team take on composability and openness and all these things so to answer your
second question on aggregator that is pretty close to me um if you know my room so i don't from
everything i know i don't think that happened um and i've talked to salience a lot as well
um i think it's a glitch with and something to do with with friend book and maybe a band-aid approach
but um it's being looked into it's never been commented on publicly but i don't think it's been
a block or ban or an issue with with aggregation if anything it could be somewhat of a seen as like
a ddos attack against front tech because if you're pushing and pulling that much data from the api
and you're having it connected to so many things um yeah they may have shut it off as a security
thinking that's an attack vector that we need to shut down because we're getting ddos basically by
this so no i don't think he got blocked um and i think we'll figure that out on the back end um as
far as the shit i don't remember the lc said but we'll talk about the aggregation if anyone else wants
to take his first comment so someone knows who a bit who is racer who are the people building
friend tech and can provide more information on that oh i remember your first question so about
i think it was sharesgram so they had a vote internally and i think it they regret their
decision as far as how that tweet went out um and the fork i think it was sharesgram at the time i
can't remember and then they kind of rugged unfortunately but yeah that thing's happened right
there's only a team of three to five people and i mean i think they they fixed that and i don't
think it's an issue going forward if you're using a fork product yeah uh there's pancakes shrimp
racer and then i think there's one or two others that i'm not really close with but racer and pancakes
i've known for a while
and from the bread corner coming out from a pepe meme pick pfp memetic don't fuck this up you're
representing my room um if you do something i i have a gun i will cap you immediately so godspeed
don't worry bro worse than the gun is i'm held hostage by you holding my key
so speaking of um pfps i wanted to make one suggestion or ask to the artists out there
on bitcloud something that we saw was the artists creating like custom pfps for all their key holders
one example was young jake and he made these portraits of all of his key holders using only
emojis to do the illustrations and he had this great network effect happen on bitcloud where like
everyone started changing their pfps to these portraits everybody wanted one and there'd be
clubhouse rooms full of people wearing these pfps so artists that are looking to do something and
bootstrap a following there's definitely an opportunity to build on to like the like an identity
layer on top of friend tech as more and more people here are identifying with it
um so i want to throw that out there and then the question that's top of mind for me
is right now for me by far the biggest like sustained value that i can see myself getting
from the platform long term is that for guys especially like luke and ansem up here people
that are an example of someone that i would want to be able to ask a question of and get an answer
um reliably like quality answer quickly and this is like the closest thing that i've had to having
some people's phone numbers um and the the frequency with which i can get like high quality
answers every time i ask a question i haven't experienced anything like it um but i imagine
that something like twitter could build in like a tipping function um where i could just whoever has
the highest tip shows up highest in your dms or you could set a flat rate so i'm just curious from
and anybody but luke and ansem you're two good people for me to direct this question at is
if twitter had that function um where people could just pay you to slide to the top of your dms
would you use that would you prefer that to frentech um because then your response is you know we're
going to remain private so if someone's looking for more specific or sensitive alpha um i could see
that potentially being a preferred option um so yeah curious about anybody's thoughts on that
i'm going to defect your question answer first handsome take the lead sir yeah i gotta answer
first um yeah i've actually thought about that i've thought about it because there's kind of no
in between between like frentech and and twitter for me and i do have a ton of dms that i haven't
answered or like can't answer just because i get so many of them um i would say that the incentive
structure is just so strong on frentech that most people will probably opt into using frentech if
they had to pick between like pay per dm or frentech because also in frentech you can choose to give
those people direct access if you wanted to have a more private conversation you can do that with
people um but i don't know what other app is giving like six fix plus incentives um like off the bat
so it's it's like super strong because of how high the fees are and how the bonding curve works so i
think that's like a really strong driver for people but i have thought about it like okay i have messages
that i can't answer and i have frentech where people are paying whatever two or three like eth or
one eth whatever is there some in between version that i can do for people where i can still like i still
have time to answer people but it also filters out um some stuff that like i can't look at i thought
about the in between yet but i mean i think the incentives for french tech frentech is pretty
strong i believe yeah i think i think at least definitely in the current stage of frentech it's
like the incentive structure is is um it's going to be hard to compete like how many questions would
you have to get from twitter users like they'd have to be paying such a ridiculous amount for it to be
worth it it's like i don't you know i don't want to be a uh support person and answering dms for 10
bucks a dm it's like you know it doesn't really scale so it's like um i don't know i think that
i'm kind of probably the most extreme on this because i kind of think that the info that you
get in a room is like not the reason you buy a key at all um but at the same time i try to provide
more info maybe than like any other room so i'm like i don't know it's a it's a tough question but i
think that the front tech incentives to answer it simply it's like the front tech incentives are
just impossible to compete with at least right now and there is just a i want to touch on something
real quick because ansem had mentioned something like the private dms are keeping something private
like a under appreciated thing of this that i was thinking about yesterday is whenever you and
someone else hold each other's key the ability to have sly conversations in each other's room
amidst everyone else is actually kind of a fun like low-key flex right like if levi and i want to
say something we can say it in the open in each other's chats as long as we know not to respond
to each other's stuff like it's all under the radar stuff and it feels kind of sly and like
i don't know like that like that's my boy kind of thing whenever you're able to pull that off you
guys both have each other's mutual keys you can do this thing in the open so i don't know if anyone
feels that but that's that's that's what levi does it feels so fucking amazing it's so funny like
i ask him something in his room and then i see a message from him in my room like oh i see i never
thought about now i'm going to start saying that's actually funny i'm going to start saying
hey cl that was so funny when you just said that and cl's not even in my room
real quick levi asked me to post a video chat link in my room one time i'm like what the hell do i do
i i sent him on twitter i was waiting for him to join and then i'm like it was like you want me to
share this in my room and have 10 other people hop on our chat
there is an app that just launched um that does the same thing like you can tip uh you you can go
on this app create an account and put your fee for email calendar and github um and so if someone
wants you to review a pr on github you can go on that app find your profile just put the tip like
you said for example one dollar and the that that person will view and you have the same thing for
calendars and email and some some people have been using that for example to lee if you want to reach
him you can pay five dollar and send him an email and he has a response time of like one or two day i
think and so the it's i don't view it at all like a frantic competition kind of product because
doesn't have the social thing or stuff but if you are want to be like um a kind of professional
that that kind of apps work really great and i think that we'll see more of them pop
that's interesting i think in my opinion nico brings up a really good point and i think like
those kind of scout schedule for pay kind of service they have their spot but i think frantech
um on the creator level it all it's also a new way to discover and evaluate creators on the same
play playing field right like you look at luke and you look at anselm it's like you know how do
you compare these two individuals or how do you compare 20 creators right it seems like they're all
the same but the frantech obviously offers a new way to say okay if this creator is significantly
more expensive or cheaper right what does that mean does that mean an opportunity for me or does
that mean i should buy the expensive one the cheaper one so i think it provides a very interesting way
to evaluate creators based on essentially money and that's like the most important resource that we
all have yo levi is there anyone from your room who wanted to ask a question or should we uh wrap this up
um yeah actually i just received um the first question is will video or gif posts be available
and it has to be right you know that's going to come i think we can all assume all media forms are
going to come at some point so you can expect that in no i'm just kidding
you can answer to say dude two days in a row all right so i broke the rules uh just because i
like back back you get 30 seconds go or else i cap you all right 30 seconds here we go i have a
super super super quick question so i just want to ask really quick ansum you mentioned if uh
you you're talking about like twitter versus frantech um i'm just kidding i don't normally talk
that fast but okay so you're talking about twitter versus frantech is there and you talk about
like the incentive on frantech is better right now do you feel like you have to reply to people
on frantech like are you motivated to reply to people on frantech because they're paying for keys
that goes for anyone with a large frantech account i mean bread i think you're at like 1.5 or something
too so that could be a question for you as well but just curious if you feel like obligated like you
have to reply that's a good question i mean yeah to some extent um but i'm on my phone a ton
anyway like i'm i'm online a ton so it's really not that much a ton of extra effort um because
it's limited in some some regard it'll be more difficult if it was like a thousand people
um but yeah i think i think it's like i think it's like that for everybody like everybody kind
of feels like obligated to put quality information in their rooms um just because people are paying i
mean to eat is a decent amount of money um to be in there so yeah to some extent yeah
i think for me i i definitely like when someone buys me i feel really honored because they choose
to put so much money in me right and the first thing i do is i immediately buy them back um if
they're cheap then i'll sweep sweep a couple keys um but then the second thing is like i always reach
out and i'd be like you know if there's anything like you want me to help you on right like aside from
my room you can always like dm me right and i follow my my holders and so that if they want to
dm me they can do it on discord or twitter and and some of them like come to me for like very specific
questions and be like you know i have this pain point or like i have this tech issue or you know
i want to know this data where we're going to find that and some of those questions i don't even know
but you know i have i have 2k accounts on friend tech so i usually tell them and be like hey i'll reach
out i'll find out for you don't worry about it and then i go and ask like 10 friends and and you
know people i'm connected to on front tech they know that stuff and then i can use use my resources
and my network to help my holders and i and i think that's also a very strong value at least for me
so what do you do if you do all that and then 20 minutes later they sell you for 0.01 gain
yeah i mean that's fine like because they they pay me trading fee when they buy me and they sell me
like that also pays me trading fee and if someone wants me to do that and like get my attention for
one question like i'm happy more than happy to answer that yeah it's kind of self-defeating to
ask a question and then cheat at those price levels because you're paying so much in trading fees and i
never hold like i personally never hold grudges when people sell me because it's like okay i'm
getting the trading fee so you know i mean they're quite consistent right now one big difference like
from week one it's like as soon as someone buys a key it's like i'm gonna buy them right back right
and i feel like now that's kind of turning into the the 3-3 meta or whatever um and just following
up with them so as soon as they join it's like hey thanks for being here let me know if you need
anything and to ansem's point the dms on twitter are just insane that you can't even you'd like to
go through and you just can't so printex a great great way to to get that access to people to actually
have them answer your questions
luke i saw you on mute you get the last last little voice here and then we're we're gonna rug this bitch
unless you don't want to you're free to defect go ahead and just get in love with
all right before we hold the plug drago before i end it just remember we'll create a space for
uh friday when we're gonna cover the the points airdrop live i'm gonna create that in the next
two minutes just set reminders we're gonna go live as soon as the points drop that's it thanks
everyone for joining i'm going to you did me proud of me thanks very much i really represented
everyone well cheers guys foolish
