the next stage, public, of the @humidifi ICO will be botted.
this was a strange decision by @JupiterExchange
my critiques
1. the wetlist is insider only essentially (I can argue why this is accurate)
2. the jup stakers didn't eat, despite jupiter being a great product, there is still (and to be fair to jupiter, this is 99% of crypto) no financial reason to hold JUP, and no reason to stake it
I do think this changes in the future, and i want to be fair and say they do want the token to be valuable
3. the jup allocation was the smallest in $ terms, and was gone in about 1 minute.
there was a higher bar to enter, and a few tiers, and this was good, smart decisions.
but more should have gone into this for the distribution, using the jup holders.
also, though jup is down 87% from it's ATH, for many it was a decent sized position. $50k, or more, and should be a on a ledger.
but ledgers for super time sensitive tasks don't work
4. later today there is a public phase which will be eaten up, i believe, by bots.
i will try to get some again, but I think only bots will get some, and a few lucky people.
what would i have done differently?
so props to the jupiter team for changing this initial allo
it was 6% to the wetlist (essentially some hustlers but really insiders)
then 2% to jup stakers, and 2% to public.
that changed to 4%, 3%, 3%.
IF the goal was really to get distribution to the stakers, then you could do it like this.
3% wetlist (keep the insiders happy)
6% stakers
1% public, with a max ticket of 250USDC per txn, and anti-botting techniques (like a captcha)
this is the first ICO from jup, and they have pumped marketing into it so you can expect some decisions to be better in hindsight, but really the goal is FOMO.
and i do think FOMO will hurt the jupDAO, as most of them have no trading skills, or emotional skills (like most DAO members in crypto)
ideas for the future
more tokens, in the ICO
the larger stakers of JUP get earlier access (i wouldnt get access from this, btw)
aim for 10% of JUP stakers to be able to get something
and rethink the public phase if it is just botted. maybe an oversubscribed 1 hour meteora pool system.
END
see you in the @MeteoraAG DLMMs because that's gonna be the only way to get them I think
and be aware of an immediate 2-3X straight away, and have a strategy, as top blasting often doesnt work
need an example, $ME paints it beautifully