@Yq1119apzzQun@AustinFromFl@OGDfarmer What's happening is @token_works fucked around and discovered "supply and demand". Actually if the protocol list the NFTs at 1.5x or higher, there's room for floor to grow
@Yq1119apzzQun@AustinFromFl@OGDfarmer What's happening is @token_works fucked around and discovered "supply and demand". Actually if the protocol list the NFTs at 1.5x or higher, there's room for floor to grow
@Yq1119apzzQun@AustinFromFl@OGDfarmer Dude if they buy at 0.4 ETH they'll list it back at 0.48. Who's gonna buy that? We don't have that kind of demand
@Yq1119apzzQun@AustinFromFl@OGDfarmer Before since it was a pump and dump, everyone except the protocol wins. Traders get to make quick money and the protocol loses. Now that doesn't happen and we are all back to the roots, supply and demand.
@Yq1119apzzQun@AustinFromFl@OGDfarmer Once jack runs out of fund, the checks gets listed at 1.2x of the buying price. So unless there is a constant buying demand, the floor won't go up and all the checks the protocol buys gets listed at 1.2x.. If no demand, there will be more sellers and eventually the floor drops.
@foogyla@Shanu_NFT@jackbutcher Nah I mean when jack runs out of fees, it's gonna hit the market at 1.2x. Usually it's a pump and dump, everyone except the protocol wins. Now all the supply is gonna hit the market whenever the floor increases 20%.
@batsoupyum This is dumb AF. The thing happening is Jack is buying the NFTs back with his fees (approx 21 ETH left). Unless he he puts additional 250 ETH the protocol is gonna list it back at 1.1x.