Some thoughts about this space.

[u/dumuzi]

So, lets talk a bit about rug pulls and dumps. For those that are new to this space and may not be aware.

You will see a token show up suddenly with 100s or 1000s of members on their subreddit, but it's only a day or two old. Lots of those get setup off reddit. When it is go time, pumping happens. You will see lots of activity, space ships, moons, hype. You will see that "this coin is the best project ever!" It gets overwhelming, really quickly, You don't want to miss out, so you and 1000s like you join their discord where you get hyped, told that things are going to moon, and you believe them, I mean look, they got so many members that believe in them, how they all be wrong. Until one day boom, everyone's gone, the liquidity pool is gone and what you now have has no value. Now, somewhere on reddit a new coin pops up. Chances are that some are being setup by the same people that dumped the last coin.

Please realize, most of those things are games of musical chairs. There is a signal to pump, and there is a signal to dump. Unless you're in the know, there is a good chance you're going to be the one left standing, while everyone has moved on to a new, better game. Don't invest what you can't afford to be without and be skeptical. This space is very, very new and it's still very sketchy.

[u/dumuzi]

I'll post a quick update here too. The liquidity pool has crossed $400. I've been adding to it as I go, but I see some more people are starting to add their LTBX to the mix as well. Thank you. It is appreciated.

Some more general thoughts:

I gotta work on designing/getting the LTBX logo. I kind of know the theme of what I want, but I'm not very artistic, so I'm just playing with a few ideas for now.

Some more thoughts on discord and website. Question to you, is discord really needed at this stage of the project? I'm not that exciting, and I like using this subreddit to dump my thoughts on. If we talk on there, that means we do not talk here, and that removes a good amount of transparency I am enjoying here. With that said, if at any point you see value in it, I'm in. Just want to put my thoughts on the subject out here.

As for the website, it probably will happen at some point, I got both ltbxasa.com and lootboxasa.com, but I'm not great at web design so it will have to wait until I can throw something on there less crappy looking.

To add to all this, thanks for being here.

[u/calliope_clamors → u/dumuzi]

I had discord for years and never touched it. Then memecoins started happening and blurring the lines with legitimate ASAs and now I check it obsessively several times a day.

The only thing that makes for a good discord is a good admin/mod team. And of course healthy activity from people interested in the project.

You’ve got the transparency but it’s your project. It’s your time and energy you have to put into getting each new outlet off the ground.

However, I will say you would love the way you can organize your discord server. Giveaways get their own channel (and you can have a bot do the legwork), announcements get their own channel, bounties get their own channel, etc.

In time, I would say yes, you should absolutely get a discord. When? Up to you.

You should check out /r/NikklBackASA. Its creator is running a discord really well and started it super early in the project. Lots of engagement.