Musing stands out by enabling effortless token creation, fostering vibrant communities that add value through the platform.
What have I done?
- Bought 4k $cope from Musing
- Recorded the price in $avax for 1 $cope
- Went to TJ and created a new pool $cope-$avax (with curve liquidity)
Why would you do that?
Musing currently allows buying and selling the community token, but limits direct access for those outside the platform. Buying on Musing increases total supply (promoting wider ownership), while external trading won't affect it.
Questions I have
- Would it be possible to build a price gap between what you would pay on Musing vs. TJ for the token?
- Is it possible to inflate the market cap of the token by having people buy from TJ?
- Where does the liquidity go on Musing? 🤔
$cope now has (a tiny bit of) liquidity on TraderJoe, and anyone can trade it there 🥳
$cope address: 0x3E67ac08B18563D9F52D8eFB816a196eF6d53d9b
Will be interesting if that would make arbitrage in bigger ways possible than usual. Definitely interesting to watch.
Yup, I'm not a big expert, but curious to experiment. When I set up the liquidity pool on TJ, I put the same price per token as what I was seeing on Musing. I wonder what would have been the consequence of choosing a different price 🤔.
I will probably add more liquidity in the next 2 weeks and give it a shot (though the price may now be dictated by the initial LP).
pretty cool idea! let's see where this is going
Alright, first step done. Created a metamask-wallet, withdraw from musing-wallet some Avax, swapped Avax to COPE on TraderJoe and sent COPE and AVAX back to musing-wallet.
https://snowtrace.io/address/0xf3F52450e565ECb666d73B318197F17C337D2B6d
👀. By any chance, did you record the change of market cap from your transactions?
No, just looked at the price difference, which was close to 0. Next test would be vise versa and then I'll check the market caps on both TJ and Musing. But not today ;-)
🫡
Interesting: Sending COPE to my Musing wallet doesn't sent it directly to my wallets address but to a smart-contract it seems.
https://snowtrace.io/tx/0xddfb9ec2647702898b31bebfd4b45549b0cd43e67c8d313df7ca2f91d7216b5f?chainId=43114
Which still transfers the COPE coins to my musing wallet, so back and forth as first test is possible.
Now I sold the COPE here on musing again, leading to 0,079 AVAX (whilst I bought them on TJ for 0,09126 AVAX).
If I would buy now the same amount on musing again, it would cost 0,091 AVAX, so same as on TJ.
Now things getting interesting in here, nice idea to experiment with!
Thanks :) And if you have ideas of things to experiment on, feel free to share (and post in the community, that's what it's made for 😉)
1st step, I'll join this community 😅
Thanks Jeunekleine, this will be very interesting to watch over time. We want to add automated liquidity pools soon, so this is useful.
🤝
