Thread by @lemiscate, THIS IS NOT A FINANCIAL ADVICE 4h hours ago this account and [...]

THIS IS NOT A FINANCIAL ADVICE

4h hours ago this account and tweet was posted
since then :
- Almost 2M$ in a contract
- 468 "holders"
- 500k$ volume on uniswap
-1258 followers

for what?
- no Website
- no GUI
- no Discord
- nobody knows what this is

a thread

https://twitter.com/eminencefi/status/1310628912339316736

https://twitter.com/eminencefi/status/1310628912339316736

What we found :
contract -> https://etherscan.io/address/0x5ade7ae8660293f2ebfcefaba91d141d72d221e8
- deployed by @iearnfinance deployer multisig
- the tweet was RT by @AndreCronjeTech so fueled the hype
- there's a bonded curve allowing to send DAI to get EMN tokens
- the curve seems very flat

Contract Address 0x5ade7ae8660293f2ebfcefaba91d141d72d221e8 | Etherscan

The Contract Address 0x5ade7ae8660293f2ebfcefaba91d141d72d221e8 page allows users to view the source code, transactions, balances, and analytics for the contract address. Users can also interact and...

https://etherscan.io/address/0x5ade7ae8660293f2ebfcefaba91d141d72d221e8

math on the curve can be found here: https://etherscan.io/address/0x16f6664c16bede5d70818654defef11769d40983#code
I won't lie, I'm too lazy to check it.

but as there are burn and mint possibilities, it seems that supply is elastic.

so dear degens, don't all-in thinking it's a super limited supply coin.

Contract Address 0x16f6664c16bede5d70818654defef11769d40983 | Etherscan

The Contract Address 0x16f6664c16bede5d70818654defef11769d40983 page allows users to view the source code, transactions, balances, and analytics for the contract address. Users can also interact and...

https://etherscan.io/address/0x16f6664c16bede5d70818654defef11769d40983#code

on the main contract we have funny stuff such as NPC and GM.

@bluekirbyfi posted a story on Instagram today about a Magic the Gathering YFI card.

my wild bet : it's something either related to @aavegotchi or a trading card NFT game based on the YFI universe

there are other contracts with "eAAVE" and "eYFI".
also with a mint possibility, maybe some game leveraging vaults to earn xp?

AAVE asset won't be around before Friday if governance vote for it. so it's definitely a bit early for eAAVE

Now the degen part,
as I saw some scams message on telegram, It was kinda sure a fake EMN token will be minted and "listed" on @UniswapProtocol.

I took the degen decision to mint a small amount of EMN and add liquidity at the exact same price than the curve on uniswap

I was aiming at having it at a "placeholder" and not talk about it until the official project launches their stuff and add real liquidity.

Oh gosh, I was wrong...

Some bots are monitoring all Uniswap new pools, in a few seconds, my 2 ETH liquidity pool got a bunch of trades.

degen groups found the pool, shared it on /biz, and people checked that it was the "real" token.

remember I've started with exactly the same price as the curve?

well the curve is kinda flat, uniswap with 2 ETH of liquidity? NOPE.

smart guys built in minutes scripts to "arbitrage" the uniswap price with the curve mint price.

we ended up with 500k volume and 1.8M$ in the contract

other actors added liquidity and now I'm an

in the pool.

I want to remind y'all that we have NO IDEA of what @eminencefi is or does...

just a casual day in DeFI...

disclaimer :
- I've put small amounts in the curve
- I tried to remove liquidity but there's too much trading activity and tx fail
- I consider my money lost but I learn a lot on the degen side.
- please refrain from buying something nobody understands.

most important disclaimer :

I have no more info than you, completely navigating in the fog. feel free to share what you found!

Ok there's more info

EMN is an "in-game" currency?
you can use it to mint eCOIN (eYFI, eAAVE, eSNX...)
when you mint eCOINs you burn the EMN https://twitter.com/PapadGeo/status/1310713341812314116?s=20

https://twitter.com/PapadGeo/status/1310713341812314116?s=20

the "Game" seems largely based on this 2015 kickstarted project.

trading card game + crypto with coins as "teams" or "house"

= the great degen game of thrones L2 game. https://twitter.com/nicolagreco/status/1310714174595575808?s=20