you are not bullish enough
friends' club
Joined September 2020
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we are a week away from Election Day and all the really neat little propositions we get to vote on since I don’t care about any of the other stuff
b̷͓͛i̸̾t̡̼͒f̾l̶̺̍o̢͘o̸̻͓̎͗r̷̖̪̐s̍g̶̨̾h̙͎͛o̸s̼̐t̷̺͒ retweeted
The Walk. Tomorrow. 12PM ET.
$5 for 24 hours. Holders get theirs free.
hell yeah
It’s kinda crazy to me that we melt sand down, clean it to 99.99999% purity, literal wizards have to draw it slowly into an ingot, we cut it, inscribe a hundred billion little on/off switches on it, and when you run electric current through it you can do basic arithmetic, which when you do enough of it can do any math on the planet, and which describes reality well enough that we can teach it the ontological meaning of words and their distance from each other on a high-dimensional space, and if you ask, it can tell you what word comes next and that apparently is powerful enough that if you do it a hundred billion times it’s the smartest thing to ever exist
oh yeah and we use this primarily for email
traded all my 2027 picks for a kings ransom of 2026 picks and players last year after everyone became obsessed with the “greatest draft class of all time”
will be laughing all the way to the bank on that one
basically Jeremiah smith sweepstakes and that’s it
b̷͓͛i̸̾t̡̼͒f̾l̶̺̍o̢͘o̸̻͓̎͗r̷̖̪̐s̍g̶̨̾h̙͎͛o̸s̼̐t̷̺͒ retweeted
I simply close my eyes and just puke my own stream of consciousness onto the timeline as an enjoyer
b̷͓͛i̸̾t̡̼͒f̾l̶̺̍o̢͘o̸̻͓̎͗r̷̖̪̐s̍g̶̨̾h̙͎͛o̸s̼̐t̷̺͒ retweeted
what was it that people used to say?
oh yeah
"may i recommend getting a real degree?"
or
"learn to code?"
b̷͓͛i̸̾t̡̼͒f̾l̶̺̍o̢͘o̸̻͓̎͗r̷̖̪̐s̍g̶̨̾h̙͎͛o̸s̼̐t̷̺͒ retweeted
so many mutuals posting about how stupid all the doomer takes are
timeline firing on all cylinders
life is great
b̷͓͛i̸̾t̡̼͒f̾l̶̺̍o̢͘o̸̻͓̎͗r̷̖̪̐s̍g̶̨̾h̙͎͛o̸s̼̐t̷̺͒ retweeted
what exactly is the definition of a social trader
if they need the 'social' part they probably aren't actually a great trader
1/ An investigation into @The__Solstice, top #3 social trader, and his ties to a massive bundling operation
b̷͓͛i̸̾t̡̼͒f̾l̶̺̍o̢͘o̸̻͓̎͗r̷̖̪̐s̍g̶̨̾h̙͎͛o̸s̼̐t̷̺͒ retweeted
standard reserve launched tokens might be the meta for the pump fun competition
it was brought to my attention that a token launched on standard's launchpad was removed from pumpfun's competition for "bundling" because 80% of its supply sits in one place
i want to clarify what this actually is, and why its the complete opposite of a bundle and actually a beneficial mechanism
first, what a bundle is: a deployer buys most of the supply across multiple wallets at launch, hides that theyre connected, waits for buyers, then dumps on them (or in the *optimistic* case, uses them for "supply control"). bundles are opaque and hide a token's real float
standard's launchpad lets deployers do what's called a "charter drop" which is the complete opposite of a bundle:
- charters are nfts held by participants in the @standard_rsv ecosystem. each holder has spent over 3 eth to join the protocol, and they've proven to be aligned, long term supporters of the projects they like
- deployers can choose to airdrop a percentage of supply (up to 80%) to charter holders. these tokens are locked in a vault contract, and charter holders cant access them unless they BURN their charter
- the airdrop isnt controlled by the deployer. the tokens sit in a single public contract, 0xb8748E02f07dd80F1DB99A49F92546B2210D844d, with no admin key and no owner withdrawal
- nothing is hidden. anyone can verify the mechanism and lock onchain, which is the opposite of a hidden bundle
- charter drops cant be dumped instantly. the tokens are split across every charter holder, not one wallet, and holders only receive their share by burning their charter. it's a public token lock with a real cost to unlock, not free supply ready to hit the market
were glad bundled tokens are being policed, but if this counts as a bundle, we'd urge you to look at the majority of the other tokens in this competition
as a side not, over 4M USD of tokens has been airdropped to charters and we've seen less than 5 charter burn to receive the airdropped tokens
since we're on the topic anyway, let's talk about market cap versus liquidity on charter drop tokens. dashboards count the locked 80% in market cap, so the market cap to liquidity ratio looks thin
but, measured against tradable supply, the pool is deeper than on other launchpad tokens since the same amount of liquidity supports a much smaller float, because most of the supply is locked. treating locked supply as tradable gives a misleading ratio
b̷͓͛i̸̾t̡̼͒f̾l̶̺̍o̢͘o̸̻͓̎͗r̷̖̪̐s̍g̶̨̾h̙͎͛o̸s̼̐t̷̺͒ retweeted
Looking further, it seems the exploit was fundamentally the same: a reentrancy attack allowing NFTs to be swapped that we patched in future releases, but it appears to be a worse outcome. In the process they seem to have re-bought the same NFT, clearing out the listing price.
I think this bricked the NFTs held by the Strategy since there is no longer a listing for them. I also think this can be executed on the other 6 strategies that had this bug.
This was only profitable on the APESTR contract because of the Mudwater pack claim, but there's nothing stopping someone from being unprofitable and malicious to brick the other 6 (or if there is a profitable claim in the future).
NFTs getting locked in the contract is a horrible outcome. I'm glad that this didn't happen a year ago when there was more volume on these 7 tokens, but it's heartbreaking that the issue ended up being even worse.
Let me know if you have any questions below and will do my best to answer.
b̷͓͛i̸̾t̡̼͒f̾l̶̺̍o̢͘o̸̻͓̎͗r̷̖̪̐s̍g̶̨̾h̙͎͛o̸s̼̐t̷̺͒ retweeted
It isn't bundled. Was airdropped to 850 random ppl who aren't insiders.... Unlike everything launched on pumpfun
they did not. however, the PNL score they had on their extremely bundled token was removed.
they are currently rank #492.
crypto is absolutely chock full of these people, can’t even count how many people I’ve helped/seen others help that just move on once they’ve gotten their use from you
cherish the real homies
b̷͓͛i̸̾t̡̼͒f̾l̶̺̍o̢͘o̸̻͓̎͗r̷̖̪̐s̍g̶̨̾h̙͎͛o̸s̼̐t̷̺͒ retweeted
They're having a rape-off
