salmanneedsajob
Starting with a disclaimer: this blog is possibly my laziest attempt ever at writing a blog - as I've repurposed contents of a telegram message I sent, quite literally.
For context, the blog presents my thoughts after participating in the launch of $BORED token, through a crowdfund (boredcaster on party.app) administered by @boredelonmusk (@bored on farcaster), and written 12 hours after the token launch. It was a very successful crowdfund raising 1,562 ETH.
This article by no means offers investment advice - and more so, I see a lot of parallels to DAOs in the new generation farcaster-native memecoins making it a fitting topic for this blog.
This message was originally shared on a group chat called 'Onchain Rookies' an enthusiastic degen sub-collective within FBI (Farcaster Builders India).
With that out of the way, here goes:
Only read if you are bored. There's no alpha here, no technical expertise, just initial impressions, and memecoin gossip if I may:
boredelon is a credible founder - unlikely to rug
Early entry opportunity on Party DAO
Potential for quick profit - 2x, maybe 5x (why not hope $$)
FOMO?
If one wants to dabble with memecoins, now happens to be the best time, as it's all the rage right now
Party crowdfund seems to be a safe way to get involved without tampering one's reputation if things go south, being that it's pretty decentralized
Exploring the meme potential of his 'BORED' brand (is it getting old btw?). The project is currently positioned as Anti-Memecoin Memecoin
It was a huge success! with many people seeing the promise of the opportunity and diving in. Having raised 1562 eth, it also might have been the biggest crowdfund in Party DAO history.
While boredelon is not actively shilling the project on his socials, he is the administrator of the DAO and probably /boredcaster farcaster channel. Likely, well invested too.
So far it looks like most people participating are here to cash in on the eth raised and enjoy the memecoin, not the meme. (Is that the case with all memecoins?)
It launched yesterday, and those who were monitoring had the opportunity to sell at a higher price. The ATH so far was around 70%, but it remained around 30% higher for a while.
From the Party DAO chat, it looked like most people started selling immediately at the start, and got a decent exit
Later, it dropped to -30% (loss), and on average it's been in that range for the rest of the day. Now, it's back to the original buy price and on its way higher as of this writing.
If you bought, how did you react to the launch so far: Hold / Sell / Sell some / Buy more?
Any reflections on your trade? If you sold at a loss, do you regret buying in the first place, or what would you do differently?
If you're holding, what's your plan? Do you have a goal to sell, or are you waiting to see where this goes?
Too early to tell, but not promising at the moment as the community seems to be just waiting for number go up.
Does the meme have potential like $higher, $enjoy, etc: Probably not - but if the community steps up, I think there's a chance. Also, boredelon is surely smart, farcaster native and gets the meta (sidenote: are $higher and $enjoy in a different league already?)
Will boredelon's popularity attract more mainstream participation like the crowdfund did? I think it can, but we'll have to wait and see.
How about in the future, like 2 months from now - Is this gonna be a forgotten story? Any chance it's the center of discussion like $mog, or just a bored old memecoin?
From a technical standpoint, how do we foresee it's performance now that the token has launched?
Wot else?
Reiterating that these are just some random thoughts with no real conclusion. If you've read till here, omg are you $bored.
