I'm interested in Moxie as an interesting new mechanic that can only really be created on an open protocol. A new idea has entered the game and I'm here to play and learn about how it works. I'm also having fun with it and not expecting it to create generational wealth. I received a nice airdrop as a Farcaster Networks DAU that was locked for one year. Once I realized you can use the locked up tokens to buy fan tokens it seemed obvious that I should try it. Once I bought one fan token, I depleted the entire locked contract of fan tokens. At an intellectual level its deeply satisfying to see a mechanic that rewards users on a social network based on the value they bring to it, especially given the extractive methods we were taught are normal in web2.
My strategy is simple and completely detached of metrics. I want to hold the tokens of people I love to interact with on Farcaster and thus, I will score points with my normal usage and not feel any external influence to do things I normally wouldn't. But what if I was min/maxing?
I don't actually know what the fundamentals of a good fan token is. I have a fan token but I'm not sure if its a good value for someone else to buy it. I don't even know what makes a good value fan token or even what the market value is derived from. Here is what I know about my token:
Token Valuation & Market Metrics
Current Token Price: M 128.54 per token
Total Value Locked (TVLO): M 470,535.7
Number of Fans: 82
Total Supply: 5,546.174 tokens
24h Volume: M 7,181,702.371
Revenue Generation
Average Daily Earnings: M 11,748.061
Earned Today: M 11,470.444
Earned This Week: M 28,072.969
All-Time Earnings: M 340,693.769
Who can help me what they think of these metric and let me know if they think my token is over-valued or undervalued. I provide no additional benefits to my token holders (yet), so I'm just curious if my token is a good purchase on a raw numbers basis.
Who can tell me more about my Moxie Fan Token?
Think @naaate nailed it - need to look at avg daily earnings / TVL ratio. and compare it across other similar accounts. I wonder if @zeni.eth has built that into moxiescout.xyz yet? Would be neat to chart or compare 5 accounts like if your car shopping. The next stage would be a way for the airstack team or the scout to denote when a fan token has a particular benefit or use case. Example * must hold 500 fan tokens to cast in /yeschef Because it will be those use cases that modify the value beyond the earnings:TVL ratio And once the option to give more of your earnings back to the fans there will need to be a way to easily see this as well. Final metric I would look at when considering value is the classic token distribution, if too top weighted it could be easier to see value go down suddenly if a whale dumps, this might be a risk metric. Though with token holders currently known it may be easier to see the whales like @wake and suss if their loyal supporters vs token speculators. Moxie on.
> And once the option to give more of your earnings back to the fans there will need to be a way to easily see this as well. This is happening in the next couple days and will shake things up.
Great points
1. I have it 2. Its great 3. Thank you
This paragraph covers it in general. What specific questions you have ?
Is my Token under or over valued? Why?
Let me see the current price 1min
No your token price is doing great. Giving the fact you have so many fan tokens. Generally the less fan tokens you have the higher the price will be. Check Dan or Phil prices for more informations. Just the supply and demand concept
Compared to other high earners, your token is undervalued on the basis of comparing the ratio of average-daily-earnings / TVL.
i can see your average daily earnings, but is that after the percentage that goes to fans? and can we get data in how much moxie that goes to fans, i feel that can tell us if your token is undervalued or over
At the current price, 20% of your average daily earnings is around 0.5% of the value of your fan token, which will be used automatically to purchase more of your fan tokens daily (without adding to the #), thereby increasing the price automatically (as long as nobody sells). How much? ....well, you have to use this formula... 🤷
So, if holders actually got a 0.5% daily return on owning your fan token that would be a really high rate of return (as logn as moxie price is stable), but instead of getting it directly, it's going to purchase your fan token, which would increase the price much less than .5% daily.