Cirrus

[Cirrus @CirrusNFT]

https://t.co/tEMWMOQTik

[Cirrus @CirrusNFT]

Ok not the worst response

[Cirrus @CirrusNFT]

So as it stands 0% of the 2000e in fees generated the last two weeks are going towards buybacks

Looks like I punched a roundtrip ticket from high 5 fig pnl to mid 5 fig loss

Gg to the team game is game

[TokenWorks™ @token_works]

Thank you all for participating in the initial launch period of Fake World Assets.

We believe that preventing external buys created a healthier protocol, as only participants were able to acquire the token as it matured.

Now that the token has distributed to participants over two weeks, external buys will be enabled on August 4th at 3pm EST.

In addition, we'll be routing 50% of future protocol fees that previously were going to TokenWorks to the buyback mechanism as stated in the docs.

The tokens from buybacks will be distributed in three ways: 70% to purchasers, 10% to depositors, and 20% burned. We believe this will help bring the protocol into a sustainable, long-term equilibrium.

We'll also lower the additional fee on top of each purchase from 5% to 2.5% and increase the depositor bid from 85% to 90%.

From 9am to 12pm EST on Tuesday we'll be disabling purchases to allow depositors to withdraw across time zones ahead of these changes.

All of these percentages will be continued to be tweaked as necessary for the health of the protocol.

Thank you for helping us make Ethereum fun again.

[Cirrus @CirrusNFT]

@ManaMoonNFT good take

I actually think team treasury thing is better than default buybacks since 80% of buybacks just end up back in circulation immediately so treasury has 5x the effect in removing tokens from circulation + creates better alignment

[Cirrus @CirrusNFT]

@iblamenfts hyperliquid

... jk rooting for you brotha 😂

[Cirrus @CirrusNFT]

Tokenworks should absolutely make money. The two person team that worked on this could take a 1m-1.5m share of the 3m in fees generated from the first 2 weeks and it would've felt reasonable to must of your users

I think 0% of retroactive fees is pretty egregious. I read the docs all the way through before depositing and it wasn't clear to me (or to many others based off replies to OP) that 0% of the highest fee period the protocol would ever have would be allocated to buybacks.

Many of your highest volume purchasers were under the impression that a portion of the fees they were contributing would go towards keeping incentives juiced for purchasers post emissions. It's probably a miscomunication thing but I think if it was clear from the start the protocol would have 50%+ less volume and fees than it does now

Anyway I think the 10% team reserve thing is better than nothing and don't think you're a scammer in any way. Just kinda unfortunate the way it played out.

Good luck moving forward

[Cirrus @CirrusNFT]

@saxyjacky still have my tokens

[Cirrus @CirrusNFT]

@woozisha I think most people (myself included) were under the impression that at least some percentage of the initial 2 wks of fees would be included but guess we misunderstood the docs

[Cirrus @CirrusNFT]

@GarrettLorman He's not a serial scammer but yea I don't agree with the decision at all oh well

[Cirrus @CirrusNFT]

@OGDfarmer @token_works

[Cirrus @CirrusNFT]

@token_works 50% of all fees including ones accrued the last two weeks right?

[Cirrus @CirrusNFT]

@MINHxDYNASTY @solana @blknoiz06 @rasmr_eth @AshleyDCan @bangerz @IOV_OWL @gabrielhaines damn how do i get a seat

[Cirrus @CirrusNFT]

@rocketinspirit make it stop man

[Cirrus @CirrusNFT]

Pretty sure I've had the worst possible luck of any large depositor on the app

The good news is that we've farmed ~2m fwa currently worth ~$30k over the last few days so it's actually worked out pretty well even with the terrible rng

[Cirrus @CirrusNFT]

Surely depositing 5% of the total TVL in the hyperliquid of gachas can't go against me right?

...right?

[Cirrus @CirrusNFT]

@punk5185 😂

[Cirrus @CirrusNFT]

@neverlucky888 wow!

[Cirrus @CirrusNFT]

@CMossbrook https://t.co/FcUdKewJap

[Cirrus @CirrusNFT]

Surely depositing 5% of the total TVL in the hyperliquid of gachas can't go against me right?

...right?

[Cirrus @CirrusNFT]

@Phin_Erin take it and run if real offer

[Cirrus @CirrusNFT]

@printer_brrr Here

[Cirrus @CirrusNFT]

@GoldenBronny https://t.co/PlEKkUkvUq

Yell at dev here: @xoshiLads

[Cirrus @CirrusNFT]

@GoldenBronny https://t.co/PlEKkUkvUq

Yell at dev here: @xoshiLads

[Cirrus @CirrusNFT]

@Mealsandeals Listing pnl still negative