Honestly, world, I was not expecting to be in a position to be writing this right now. I thought that the project was a dud, that no one cared, and that I was a very silly person for continuing to work on it after such a thorough rebuke in the market. That was before my nap, yesterday, when some insanity led the market to suddenly pump a quarter of a million dollars' trading volume through the coin. It seems to be more or less holding, too, even into this morning, which is amazing. It has my head spinning right now as I think about the various possibilities that may be unlocked in coming days.

We have a few minor technical problems but in all honesty the minimalist approach is awesome because there really just aren't that many threats to watch. Maybe if there's a lesson in that for software devs, it's that complexity is our natural enemy. Finding the simplicity is the only way to defeat Moloch and deliver technologies that people want, need, use.

After the past week's dev sprint, there are a flurry of new features in the application, but none is more important to take notice of than the new page at https://abc.epicdylan.com/supply - a link that provides a high degree of insight into where the $ABC tokens are and what people are doing with them at that point in time.

For now, the main thing to do with $ABC is probably to trade it. Soon, the token will be a week old and my unbonding transaction will become available to complete and we will know for sure that the contract does the things it's supposed to do, but we still won't know for sure that it doesn't do things it's not supposed to do. Some friends in the space have agreed to have a look and I'll be sure to write with whatever the news is from that as soon as possible.

So the game plan is ultimately going to be to try to save up enough money from the trading volume and fees in the protocol to afford a quality contract audit for what may well become known as the ABC-style staking setup, a Synthetix reward debt contract with $ETH being claimed by the ERC-20 token's staking community. That's the mid-term goal, and once it's complete, the long term goal is to build a dev culture on Farcaster that grows & ships apps and that uses the >ABC_DAO protocol & toolkit to organize FOSS development projects without the distasteful influence of VCs and centralized power/money structures. This will be challenging and difficult and freeing and we'll be faster together once we've pushed some of these bottlenecks aside.

Here's an image of the Supply Dashboard I captured last night:

For now, the token supply is mostly locked in the Clanker DEX Uniswap V4 Liquidity pool, creating a situation where only 10.9% of the token supply is liquid. .7% of the tokens have been staked, and 5% are locked up for 30 days in a Development Lock that will release the tokens to fund a protocol growth airdrop or other operations along these lines. With volume I'm seeing these numbers swing by multiple points as billions of $ABC are bought and sold from the Clanker contract.

The Clanker page for $ABC is here: https://www.clanker.world/clanker/0x5C0872b790Bb73E2B3A9778db6e7704095624b07

Once the unbonding transaction successfully completes, we'll know we can get our tokens out of the staking contract for sure and that will make it possible to lean just a little harder into this project. Once an audit is completed, we'll have full faith in the technology that >ABC_DAO represents and exists to build. If you know an auditor who would be perfect, don't hesitate to reach out on Farcaster: https://farcaster.xyz/epicdylan.

The way the Treasury Lock works is simple. To manage risk, the @abc-bot holds the tokens in a wallet it controls (the Treasury). Twice per day, the bot will review the awards it has granted that day, tally them up, and send an equivalent amount of $ABC to the staking contract to be claimed by the user who earned the rewards. It's not working yet, but it will be soon.

The bot will also receive $ETH and $WETH from fees. It will unwrap the $WETH, yielding $ETH, and send $ETH to the staking rewards address to be claimed by $ABC stakers.

$ABC received in fees will be awarded by the bot to devs who make commits in grants as described above.

For now, development rewards are exclusively available via the Farcaster mini-app. Staking is available through the web browser on desktop, but otherwise desktop functionality is limited. If you have questions, cast at me at my farcaster or come chat in the public ABC chat provided by Nounspace: https://www.nounspace.com/t/base/0x5c0872b790bb73e2b3a9778db6e7704095624b07/Profile

Believe it or not, I've never had anything like this kind of trading volume on a token that only had a week's work behind it. $EMARK did something similar but turned out to probably be too complex and to have been launched too early. I'm still building it but it's definitely not as fast or simple as $ABC has been.

I, of course, had to get a screenshot for posterity:

This project has already been a blast. I'm very excited to see what comes next for it.

Sign up with this link if you need an invite!

Honestly, world, I was not expecting to be in a position to be writing this right now. I thought that the project was a dud, that no one cared, and that I was a very silly person for continuing to work on it after such a thorough rebuke in the market. That was before my nap, yesterday, when some insanity led the market to suddenly pump a quarter of a million dollars' trading volume through the coin. It seems to be more or less holding, too, even into this morning, which is amazing. It has my head spinning right now as I think about the various possibilities that may be unlocked in coming days.

We have a few minor technical problems but in all honesty the minimalist approach is awesome because there really just aren't that many threats to watch. Maybe if there's a lesson in that for software devs, it's that complexity is our natural enemy. Finding the simplicity is the only way to defeat Moloch and deliver technologies that people want, need, use.

After the past week's dev sprint, there are a flurry of new features in the application, but none is more important to take notice of than the new page at https://abc.epicdylan.com/supply - a link that provides a high degree of insight into where the $ABC tokens are and what people are doing with them at that point in time.

For now, the main thing to do with $ABC is probably to trade it. Soon, the token will be a week old and my unbonding transaction will become available to complete and we will know for sure that the contract does the things it's supposed to do, but we still won't know for sure that it doesn't do things it's not supposed to do. Some friends in the space have agreed to have a look and I'll be sure to write with whatever the news is from that as soon as possible.

So the game plan is ultimately going to be to try to save up enough money from the trading volume and fees in the protocol to afford a quality contract audit for what may well become known as the ABC-style staking setup, a Synthetix reward debt contract with $ETH being claimed by the ERC-20 token's staking community. That's the mid-term goal, and once it's complete, the long term goal is to build a dev culture on Farcaster that grows & ships apps and that uses the >ABC_DAO protocol & toolkit to organize FOSS development projects without the distasteful influence of VCs and centralized power/money structures. This will be challenging and difficult and freeing and we'll be faster together once we've pushed some of these bottlenecks aside.

Here's an image of the Supply Dashboard I captured last night:

For now, the token supply is mostly locked in the Clanker DEX Uniswap V4 Liquidity pool, creating a situation where only 10.9% of the token supply is liquid. .7% of the tokens have been staked, and 5% are locked up for 30 days in a Development Lock that will release the tokens to fund a protocol growth airdrop or other operations along these lines. With volume I'm seeing these numbers swing by multiple points as billions of $ABC are bought and sold from the Clanker contract.

The Clanker page for $ABC is here: https://www.clanker.world/clanker/0x5C0872b790Bb73E2B3A9778db6e7704095624b07

Once the unbonding transaction successfully completes, we'll know we can get our tokens out of the staking contract for sure and that will make it possible to lean just a little harder into this project. Once an audit is completed, we'll have full faith in the technology that >ABC_DAO represents and exists to build. If you know an auditor who would be perfect, don't hesitate to reach out on Farcaster: https://farcaster.xyz/epicdylan.

The way the Treasury Lock works is simple. To manage risk, the @abc-bot holds the tokens in a wallet it controls (the Treasury). Twice per day, the bot will review the awards it has granted that day, tally them up, and send an equivalent amount of $ABC to the staking contract to be claimed by the user who earned the rewards. It's not working yet, but it will be soon.

The bot will also receive $ETH and $WETH from fees. It will unwrap the $WETH, yielding $ETH, and send $ETH to the staking rewards address to be claimed by $ABC stakers.

$ABC received in fees will be awarded by the bot to devs who make commits in grants as described above.

For now, development rewards are exclusively available via the Farcaster mini-app. Staking is available through the web browser on desktop, but otherwise desktop functionality is limited. If you have questions, cast at me at my farcaster or come chat in the public ABC chat provided by Nounspace: https://www.nounspace.com/t/base/0x5c0872b790bb73e2b3a9778db6e7704095624b07/Profile

Believe it or not, I've never had anything like this kind of trading volume on a token that only had a week's work behind it. $EMARK did something similar but turned out to probably be too complex and to have been launched too early. I'm still building it but it's definitely not as fast or simple as $ABC has been.

I, of course, had to get a screenshot for posterity:

This project has already been a blast. I'm very excited to see what comes next for it.

Sign up with this link if you need an invite!