Wild "Meme Season": New releases, opportunity or crisis?

Original Author: Cookie, Rhythm BlockBeats

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$BEN and $PSYOP for ben.eth

$PSYOP may well be the craziest "gamble" of this year's "meme season."

Send an amount of ETH to the address ben.eth, and bet whether ben.eth will send $PSYOP Token to your address. Yes, you read that right, you are not even betting on how many times the increase of $PSYOP can increase, but first betting on whether you will get the Token of $PSYOP!

ben.eth obtained about 3,800 ETH (approximately $7 million) in just a few days through the "direct money" pre-sale method. (Note: The pre-sale has ended, please do not send any assets to the ben.eth address!) Before the launch of $PSYOP, ben.eth also launched another meme Token $BEN on May 5. ben.eth obtained about 55 ETH through $BEN, and the market performance of $BEN is also very average at the beginning. But on May 8th, millionaire V Ben "Bitboy" Armstorng (@Bitboy_Crypto) suddenly called out for $BEN, and $BEN started to take off.

The next day, ben.eth tweeted $BEN as the "Attention Economy" Token. $BEN calls for another order.

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A 15-minute chart of $BEN. The exit of ben.eth seems to have a feeling of "exhaustion", the price of $BEN stabilized and rebounded again

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On May 14th, it was discovered that ben.eth used the assets under his address to buy a Milady. Ben.eth explained that not only the funds raised by $PSYOP, but also his private property

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ben.eth shouting single case, "abandoning the dog and throwing the frog"

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THE "BLACKLIST" OF $PEPE AND $LADYS

Both $PEPE and $LADYS are the stars of this year's "meme season". What they have in common is that they are all soaring, and they both have a "blacklist" function in the contract. Once the address is "blocked", all $PEPE/$LADYS Token under the address will not be able to be transferred.

The contract ownership of $PEPE has been abandoned, which means that the "blacklist" of $PEPE can no longer be changed, neither added nor removed. This means that 0xAf2358e98683265cBd3a48509123d390dDf54534 will stay alone forever on $PEPE's "blacklist". This address spent 0.013 ETH to purchase about 2.5 trillion $PEPE within a few hours after the trading pair on UniSwap was launched, and was "blocked" 8 minutes after the purchase. At the time when $PEPE hit its all-time high, these $PEPE Tokens were worth over $9 million.

Compared with $PEPE, $LADYS is even more exaggerated. The ownership of the contract has not been abandoned, and the LP has not been locked. Even $LADYS is not an "orthodox" community project of Milady, because it is impossible to know who deployed $LADYS. Compared to the $mememe initiated by @mememe 69696969, the "Milady lineage" of $LADYS is impure.

The "blacklist" of $LADYS can still be added or deleted by the contract owner. This time, 0xAf2358e98683265cBd3a48509123d390dDf54534 was on the blacklist again, but this time the address was oiled, and most of the positions were lost and a profit of 52 ETH was cashed out. The other two "blocked" addresses failed to escape. They spent 9.6 ETH and 7.2 ETH respectively to buy a large amount of $LADYS, and all of them were locked.

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The short-lived "white lotus"

The launch of "White Lotus" $LOTUS on May 9 attracted a lot of market attention. Not only because the team behind it is Muse DAO, which has developed the NFT fragmentation platform NFT 20, but also because it combines Trader Joe's "flow box" mechanism to create a "flywheel that only goes up but not down."

Within the price range of $0.2 - $4.2, a certain amount of $LOTUS is stored in every 5th "flow box". Whenever a player spends ETH to buy $LOTUS, the ETH reserves in the pool will increase accordingly and be locked into the pool as liquidity. And every time a player sells $LOTUS, a 10% tax will be charged. 8% of this tax will be burned and 2% will be used for staking rewards.

Every time the price of $LOTUS fluctuates by more than 5 "flow boxes", the bottom price protection mechanism will be rebalanced. When rebalancing, 10% of the ETH in the pool will be placed in the "flow box" adjacent to the current intensive transaction price to provide direct liquidity, while the remaining 90% will be placed in the latest reserve price based on the total circulation of ETH/$LOTUS In position. With more and more ETH and less and less $LOTUS, $LOTUS has theoretically realized the "flywheel that only goes up but not down."

The team has a good background, combined with Trader Joe's novel mechanism, even Trader Joe's official tweets cue to $LOTUS, and the "white lotus" bloomed quickly.

Then it "withered"... Since only the seller tax plus the LOTUS/USDC pool on Trader Joe and the pool tax on UniSwap did not work, the protection reserve price did not rise as expected. At the same time, the direct liquidity of 10% ETH is used as a "smashing buffer", which is not enough to hold the first big Yinxian. After the direct liquidity of 10% ETH was eroded by huge selling orders, a liquidity vacuum appeared between the reserve price and the current price, and finally the big Yinxian was displayed in front of the players.

At the same time, the $LOTUS pledged by the "Death Squad" (dev deployed the contract on the main network for testing) was completely locked in the contract, which also caused a certain degree of tearing in the community. Dev's high-intensity work led to low-level mistakes in the code of the pledge contract, such as omission of curly braces, which resulted in the $LOTUS pledged by the frontrunner being unable to be withdrawn, resulting in a loss of over one million dollars. The dev said "no refunds", and the community changed from being united on the first day it was about to start to a confrontation between the pledgers and the holders...

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epilogue

The attractive part of "meme season" is the short cycle and high potential income, and the dangerous part is also corresponding to it, hot spots change quickly, possible project parties do evil, unpredictable contract bugs... maybe even play around , "meme season" passed away quietly, leaving us weeping on the top of the mountain.

Whether it is a good opportunity or a crisis, it often changes in an instant. For example, entering at the beginning of $LOTUS, exiting after gaining several times the increase, and falling back to a blood loss or even zeroing out of the stud, are completely three different endings. It is very important to formulate an acceptable risk strategy according to the amount of your own funds.

Don't put yourself in the anxiety of the unknown because of the imaginary high return, which will cause the operation to deform, which is very dangerous. The cost of pre-insurance has increased, so don’t “run ahead” by interacting with any contract that has not been confirmed by the project party, and don’t feel that “xx Token is the only chance in my life.” Increase the probability of seizing a good opportunity, reduce the probability of entering a crisis, and eat steadily into a "fat man" bite by bite.