Foreword from JP
A big thank you in advance for coming here and spending some time to read some of my thoughts before being properly presented with the actual project details.
I wanted to first share some of my own views so that as you continue reading you will understand my thought processes I had before embarking on this token project.
In 2020, I started to dabble in DeFi offerings, beginning with the extra safe method of providing liquidity on Uniswap on the Ethereum chain using stablecoin pairs. In late 2020/early 2021, the BSC boom happened and I began to get more involved with the community, project teams and crypto twitter. The degen in me prevailed at this time and I explored numerous projects did the Pay2Learn route like many of my friends.
Most popular (not to be mistaken with successful, as there are few and far between) token/NFT projects, as we all know, start off great and usually gets hype built up well at the start and the price action commensurate accordingly.
Inevitably, some people will sell at the top, and some will be the ones who will buy at the top and it is a constant struggle for the developers to figure out a way fast to keep it from falling by the wayside. There are just too many projects being spawned out there and the main bulk of people just move on to what they perceive as the next big thing.
Having been in the midst of numerous project lifecycles, I have learned that there are a few key ingredients that cannot be ignored in a crypto project. They are known by many terms but generally fall into 2 main categories — Hype & Sustainability.
Most dev teams have a great plan to build hype as they have been in the space for a while. They even know folks who can help shill and introduce friends who will in turn introduce other friends to join the projects’ socials or chat channels and begin to build up the FOMO. There are also teams that dedicate a portion of their funds to “buy up” the price so that it gives them a reason to present a huge oncoming rush to be part of the project.
Not only that, there are web3 organizations that have sprouted up for the sole purpose of helping to “market” the project, for a fee of course. These range from “influential” individuals to organized companies that just by having their stamp of approval, gets the project into the spotlight for a while.
There are numerous other methods employed, which I wouldn’t say aren’t good or bad but the objective is the same, to generate hype and to get more people interested or FOMO folks in.
The next category is Sustainability, which is what we all call the “use case” of the token and what intangible value it brings to the holder.. This is the utility which most project teams create an ecosystem around. Staking, taxes, farming are a few of the methods employed to make someone hold/use it or want to buy and hold/use it.
Different teams address these 2 differently but you can be sure every team will have these categories fully thought through with the hope that their implementation will be the one that sparks a revolution.
Fast forward to today, I decided to embark onto this token project with the experience I have garnered over these few short years by being part of communities and even web3 project teams. Being a founder was always on the back of my mind, but on days where I could peacefully sit down somewhere, dreaming of tokenomics, utility, community engagement and viability in the long run, I always ended up back to the drawing board because I could imagine how the project would lose steam and become just another token project on the blockchain.
After much contemplation, I came to the conclusion that it is impossible to create something flawless. In every scenario I came up with, there would be a flaw somewhere that sometimes I could imagine the project pivoting to overcome it (and introduce another flaw somewhere else) or I could fully ignore it, knowing it was there and pray that it’s impact would not be as detrimental as I believed it would be.
Ultimately, I decided that should I were to launch a project, I would have to be upfront about what I thought are the project weak areas and collectively, with the community, endeavour to overcome it together. On top of this, I would also like to be honest and fair to all participants, be it the early folks or the ones who joined in later and have benefits cater to everyone as much as possible.
This is easier said than done.
Whilst watching the implementation of other projects in the space, my supposedly final master plan got formulated, scrapped and remade only to be scrapped again only for me to come to the realization that a simple, easy to understand implementation is still the best. Complexity only leads to confusion among people and if the rules were laid out simply at the start, followed to the letter at the promised time, there will be less stress for the project team as well as the community behind it.
Thus, prior to the launch of the JPMoreGain project, I will release a series of articles to talk about why I made certain decisions and to explain as much as I can in a manner that everyone can absorb it easily.
These articles will also serve as future documentation for the project as well as to filter out the ones who are really interested to come along with me on this journey. Without much fanfare, I am also adding the link to the Telegram group and hope that if you have read up to this point, to join in for the updates and maybe with your suggestions, I can better the project.
JP
