And… really this is exactly why memecoins should have a regular 24-hour “fair launch”,
dividing up X% of the funds pro-rata among everyone who contributed in that 24h window.
625x overnight is way too big
240x in 48 hours by BOME was already huge
625x and suddenly tons of super broke people have millions to dump on it
too many millions set to dump early and the big money will never be attracted
Big money not attracted and then those broke overnight millionaires suddenly can’t exit
More 24h fair launches.
dividing up X% of the funds pro-rata among everyone who contributed in that 24h window.
625x overnight is way too big
240x in 48 hours by BOME was already huge
625x and suddenly tons of super broke people have millions to dump on it
too many millions set to dump early and the big money will never be attracted
Big money not attracted and then those broke overnight millionaires suddenly can’t exit
More 24h fair launches.
😁2💯1
DoomPosting
So now we have PEPE/SOL and PEPE/ETH — Two completely separate coins. PEPE/SOL mooning hard. Is the desire for a SOL-based PEPE enough to overcome the confusion of having the same ticker as the ETH pepe? Or do sites like dexscreener finally fix this, as…
yup, now porting over all the major ETH tickers
(Though not with huge liquidity, and no idea if legit)
(Though not with huge liquidity, and no idea if legit)
My take: this is a massive failure of all of today’s crypto wallets.
Incredible that today’s crypto wallets don’t solve this for you.
I.e. 2 components to slippage:
(1) slippage due to the amount your trade moves the market on the dex, based on the current reserves, if no one else trades before you, i.e. due to your trade size being large relative to the reserves size — and this can be deterministically calculated by the calculateAmountOut function offered by basically all the dexes. Note that MEV bots CANNOT drain this kind of slippage.
(2) slippage due others trading before you can get your trade in and moving the market, making those old reserves amounts outdated — this cannot be deterministically calculated, and is lacking more advanced dex tech, is simply a prediction of the future / user’s appetite for slippage. Note that MEV bots CAN attack this kind of skippage.
Retarded wallets up until now just assumed that (2) dominates and that (1) is near zero, and so to just always have the wallet set a tiny amount of slippage, and that’s it, MEV bots can take that tiny amount from (2), but not a big deal because it’s tiny.
Reality: (1) dominates today, with most people trading new memecoins where your trade size is huge relative to the size of the memecoin’s dex reserves.
Result: people are making wild guesses about what un-MEVable (1) is, even that part should be pre-calculated, vastly over-estimating and going into MEVable (2) territory — and getting massively drained as a result.
What would fix it: If the wallet slippage percent input was JUST about type (2) slippage, and then you much more often could just always leave the slippage to some small number, instead of just blending un-MEVable (1) and MEVable (2) together.
(FYI: you might think that you could MEV drain type (1), but you can’t, because that would just be helpful arbitrage. Only difference between a bad MEV bot and a helpful arbitrage bot is whether it helps you or hurts you…FWIW.)
Incredible that today’s crypto wallets don’t solve this for you.
I.e. 2 components to slippage:
(1) slippage due to the amount your trade moves the market on the dex, based on the current reserves, if no one else trades before you, i.e. due to your trade size being large relative to the reserves size — and this can be deterministically calculated by the calculateAmountOut function offered by basically all the dexes. Note that MEV bots CANNOT drain this kind of slippage.
(2) slippage due others trading before you can get your trade in and moving the market, making those old reserves amounts outdated — this cannot be deterministically calculated, and is lacking more advanced dex tech, is simply a prediction of the future / user’s appetite for slippage. Note that MEV bots CAN attack this kind of skippage.
Retarded wallets up until now just assumed that (2) dominates and that (1) is near zero, and so to just always have the wallet set a tiny amount of slippage, and that’s it, MEV bots can take that tiny amount from (2), but not a big deal because it’s tiny.
Reality: (1) dominates today, with most people trading new memecoins where your trade size is huge relative to the size of the memecoin’s dex reserves.
Result: people are making wild guesses about what un-MEVable (1) is, even that part should be pre-calculated, vastly over-estimating and going into MEVable (2) territory — and getting massively drained as a result.
What would fix it: If the wallet slippage percent input was JUST about type (2) slippage, and then you much more often could just always leave the slippage to some small number, instead of just blending un-MEVable (1) and MEVable (2) together.
(FYI: you might think that you could MEV drain type (1), but you can’t, because that would just be helpful arbitrage. Only difference between a bad MEV bot and a helpful arbitrage bot is whether it helps you or hurts you…FWIW.)