RUG PULL 🌊 EMM Post-Mortem [2/2]

Now to semantics 🍿

1] Influencers shilling 👾

I dislike the influencer insider zero sum pumps (positive sum games are fine). Was this one of those? Hm not per se. You see, we were all in the chat clicking the contracts and buying while 0 twitter people knew. They came in way later actually. Lobsters devs and community members were piling in at 200K AUM or so. So everyone was in the unknown here, at least I believe. No details about the game, finding clues... it's fun! Also, there were about 9 hours before the fomo started. Not coordinated. No insiders I believe.

2] Refund of 8M Dai ✅

Now people are talking about the 8M refund to be given at a snapshot to users, since it's on the Yearn Deployer address. Not sure this is the best strategy, but it's easy for me to say since I avoided the rug. I guess many would be voting for it, and it could offset the losses at a good rate. On the other hand, everyone knew what they were going for. And it seems like that is the solution people are going for: https://twitter.com/andrecronjetech/status/1310774715359924228

3] Test in prod and zero token value YFI meme ⚠️

Farms abused the zero token value meme and the “test in prod” narrative, so of course this marketing was going for EMN and GIL as well. But here you had no dilution and it was all a bonding curve with just a clope included. So an MMO rather than a farming bullshit scenario. Still weird, still sketchy a bit due to the unknowns, but very different. Everyone wanted a new YFI - got a rug instead. Risked for alpha, it is what it is. Again, easy for me to say, but it’s just a fact. Invested in shit ICO - do not call SEC, own it.

4] YFI team insiders ❌

No, YFI team members did not know. As I point out above, they were in the unknown and bought after other members did. There is no insider thing around it. Kirby? No clue. He has a fun shilly account, not a researcher-developer one. Don't put your responsibilities on anon cartoon accounts. I just want to avoid Y - which is an awesome dev community and product - being associated with outside activities. I know it's hard to distinguish from those, myself included, but you wanted alpha - and it was there. The hack wasn't expected by anyone. Don’t drag people with good intentions into the mud, those who have always stood for the community.

PS 🙏 my post is biased, because I have known Andre since 2018 and met him irl a few times. He was dragged around for being dishonest and taking payments on the side a lot of times, and every time it was wrong and he was coming out stronger. And he kept building and helping people. I am now in the position of just never doubting him. If I am wrong, be it. To top it off, nice reality check by Sam: https://twitter.com/SBF_Alameda/status/1310762299754295296

YOU RISK FOR BIG % -> YOU CAN GET REKT. Remember that.