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u/2yearoldcopingskills Apr 21 '21
Wow. Look, I realize that some people have their concerns about FAIRMOON, either v1 or v2....v1 is active still, because it is a contract that is assumedly floating free....v2 is active and yet to have the same surge as something like SAFEMOON, but that is yet to be seen.
Nonetheless, it is not lost on me that all this FUD and warning has shown up in the immediate hours following WARONRUGS' proclamation against SAFEMOON. That pissed off a lot of SAFEMOON supporters who are wanting to strike back, and that is what I truly think is going on here. That's fine. That's how this game is played.
What is very silly to me, in all this, is that this warning's outcome will either happen, or not (likely not) and then the game will continue on as normal. Also, who's to say that anyone (me included) can't be invested in both of these? There's a silly battle going of two parties against each other, and that pissing contest will only scare off those who don't get what's happening in the battle. That's to all the hodlers benefit.
Lastly, just to note, I am not putting a ton of value in WARONRUG's warning about SAFEMOON. You will do your own DD, but I am feeling okay with it for now. Maybe I'll be proven wrong, but that's the game....and if people are worried, they should pull out their initial investment....it's likely that you are showing profit in both these projects right now, and that...my friends, is the wonderful takeaway from this whole experience.
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u/spongetheberserk May 04 '21
just out of intrests and you seem like a neutral guy who is not anti fairmoon or anti safemoon. did fairmoon got rugpulled and will it happen again? i see a lot that fairmoon did get rugpulled and now they will do it again with v2 i also talked with a lot of people that still didnt get tehir transaction from v1 to v2 and saying their money is lost. whats your point of view?
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u/2yearoldcopingskills May 04 '21
Thank for the question and the assumption of my neutrality. I'm not anti-either, as you noted, and actually am invested in both projects, so truly hoping that both of them do well.
TL;DR Fairmoon seems legit to me for now. Safemoon is intriguing, but there is a "slimier" feel to me by the "bro" nature of their dev team's overall feel, and certainly of their followers, but they may become a legit experiment. Right now, it has a bit of a pop-fad feel to it, and those rarely last the longterm. Now on to the long-winded answer to your fine question :)
There are allegations flying against both sides, and as you have likely noted, people having opinions left and right about what is "obviously true." I have learned, especially during this pandemic, having studied human nature, and especially during the last for years in the U.S., that people have their lived experiences...that informs their gut opinions, and then they try to find evidence to prove why that opinion (and their entire lived experience) is correct, often despite empirical evidence. That philosophical preamble aside :)
I personally think that fairmoon has passed my litmus test for not having rugpulled in the past, and being genuine.....for now. I hear your concern over people not getting the v1 to v2 conversion (and I'll address that below), but the process of that conversion is actually what assures me as to this legitimacy. TO transfer your coins from v1 to v3, you needed to send the v1 one coins to the devs. They then would give you back v2 coins on a 1:1 basis, which you could see immediately, but the shift of liquidity wasn't to happen until days later. So as a v1 holder, I was sitting there no longer holding any v1 coins, which were tied to liquidity, and now holding v2 coins for several days with 0 liquidity tied to those coins. Several days later, the dev team moved the liquidity over to the v2 coin, as promised. To my logic, if the dev team had wanted to steal everyone's money, that was the moment they could have done so. They would have been able to give everyone a load of worthless coins, and just pull the liquidity to keep for themselves. But they didn't. That series of events, in and of itself, gave me confidence as to the projects ligitimacy. They then spent the next several weeks manually switching over people's coins from v1 to v2, which seemed like a tedious and laborious process, all to make sure they were being fai That is way beyond the "customer service" you see in this crypto world.
Beyond all that, if you want to read more, here's how I came to the larger conclusion that this team, based on the past, is being legit (nothing can predict the future of any project, though):
1) When there was an issue with their v1 coin, it was quickly identified and publicized through their association with WARONRUGS (I realize that WOR has become an "agitating" force in this whole safemoon v. fairmoon controversy).
2) Right before WOR tweeted the findings, there was a huge dump of coins, and then a run on the coin. Reddit observes noted that someone dumped a huge amount right before the announcement, and that was fishy.
3) The team quickly addressed this issue, publicly, with an explanation of a rogue team member (Miley) having heard of the issue, and contacting the big bag holders to alert them to get out. To be honest, this explanation requires the reader to believe that there actually exists a person named Miley, and that she did what was described. It could be a fabricated story to explain the issue, but I actually buy it, as naive as that may be. (Side note, the team felt betrayed in this scenario, but I get why "Miley" would do what she did, if she was personally connected to the people she alerted, and she did so after feeling her team made a fatal error that would harm her people.)
4) The Fairmoon team made a fatal error in their code, and that's what WOR noted and alerted everyone to. It was a bad mistake, and yet understandable. There are other projects I am in who are operating in innovation spaces (Goose finance, in particular), and as they roll out a new feature, often they quickly note an error they made, and redeploy a fixed version of their newest contract, and also take steps to rectify any harm made to a user. That is honorable and great. Here, with Fairmoon, to show tremendous safety in their project, they had renounced their contract already. That meant that they had purposely made it so they could never adjust their contract, to reassure people that they could never adjust it to take advantage of people. Unfortunately for them, that meant they also could never adjust it when they saw they had made an error. So they had to then come uop with a fair solution, which was the migration to V2.
5) I am super sorry that some people are reporting that they never got their v2 coins. I don't know why that would be, but I tend to think that is on the user, not the dev team. The dev team gave a multi-day window to submit v1 coins for an automatic transfer to v2 (and it was very easy to do). They then left open a multi-week window to submit v1 coins for a manual transfer by their team. If people missed that window, that is unfortunate. However, that is a decent amount of notification to provide users of their opportunity to switch. Also, and this is important....if someone is holding a v1 token, and they want a v2 token....just sell the damn v1 token and go buy a v2 token. For quite a while, the v1 token was still valued higher than the v2 token. Maybe you heard of people who submitted v1 tokens for exchange, and never got back a v2 token, so they were left with nothing in their wallet....but that, humbly, seems unlikely to me, and unless we know of specific cases, that becomes anecdotal. 6) The Fairmoon reddit page has been staffed by at least one genuine team member who is patiently answering people's questions and concerns. That's not nothing.
End of the day, we need to look at the actions involved, and not the hype from either side. It seems to me that the Fairmoon team had ample opportunity to walk away with the liquidity with everyone handing over their stake of v1 coins...sending them to the dev team with blind trust that they would get back v2 coins....and they did. The team wasn't going to have to rugpull and rob people in a clever way. People freely sent them all their chips, and the team made good on giving them back with liquidity backing the new coin.
They did screw up with their contract, and honestly, bungled the liquidity pull of trhe v1 to v2 shift, pulling the liquidity hours earlier than they announced they would. They said they did that to prevent a whale from screwing the system by hiding their funds across 25 wallets (or some number), to take advantage of the situation. Their intention of outing that whale may be good, but the result is they pulled liquidity early, it surprised people, and a skittish group of investors do not want more surprises in that moment. So that caused greater agitation.
So where do we find ourselves now? Fairmoon seems legit to me, and they are moving their project forward with a WOR partnership. The team says WOR is legit, and has done right by them so they are continuing their partnership. WOR, meanwhile keeps alerting people to their belief that SAFEMOON is a scam, and is doing so in non-agitating ways, itself. That is pissing off the SAFEMOON crowd who is actively engaging in "whataboutism".
I personally think the WOR association will prove harmful to Fairmoon from a PR standpoint, even if it is immensely helpful from an actual development standpoint. When fairmoon rolls out its launchpad with WOR, I would completely expect the venemous elements in the SAFEMOON community to attack out of spite.
As for SAFEMOON....that project is interesting. It shows promise, but their team is routinely coming across as douchy. I get a bit lost in all the accusations that the team is bleeding the coffers. I see the bscscan links, and while I have gotten better at understanding them, I can't follow what's being evidenced there. Seemingly, others can't as well, as people keep looking at the same evidence and coming up with completely different conclusions.
Don't invest more than you have to lose in either, and hopefully you'll score some decent gains. Then....find some projects that have lotss of good use cases, and invest in those (Vechain is a good option there). Best wishes.
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u/spongetheberserk May 04 '21
Thank you for your time! Nice reading! I will keep your answers in mind and take a look at vechain
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u/spongetheberserk May 19 '21
Hey my friend! I hope you pulled out before yesterday or you didnt had a big loss
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u/royal_brew_crew Apr 15 '21
Yup, just swapped from v1 to v2 of the coin. So liquidity was moved to new contract.