Thread by @420defi

1/ Since everyone is excited and looking to ape into $OATH, here's short info on @ByteMasons launch and possible plays & risks you might be taking at various phases. NFA, just what I gathered in ~30mins of research that I did. Feel free to comment if I miss something
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2/ Essentially there are 3 phases

Phase 1 - LGE; you are WLed to buy discounted/vested shares of initial $OATH based on #NFTs

Phase 2 - LBE on @beethoven_x, public price discovery; price set in Phase 1 will drop to bootstrap more liquidity & prevent bot sniping

Phase 3 Trading

3/ Now lets look at the phases more in-depth:

Phase 1 - essentially a WL for #NFT holders to generate initial liquidity. This is the most important part for long-term investors. It is very high risk to buy this expecting short-term gains (read below why)

4/ Phase 1 is where long-term holders want to "gamble" and try buying $OATH by using #NFTs that have bigger discount & comfortable vesting term to them. You want to get as bigger share of tokens as possible in this phase for best price.

Anyone expecting short-term gains ...

5/ ... has a higher chance of getting burned by this in Phase 2. Why? Well the phase 2 is where the 2nd phase of price discovery will start.

Funds from Phase 1 will be moved to @beethoven_x for another (now public) Liquidity Bootstrap Event (LBE). Now how does this LBE work?

6/ The LBE will start at average price of phase 1 and will keep dropping (usually 4x - 5x times lower), considering no buy pressure. This enforces fair launch and detracts bots, but ends up the price dumping from start and people buying towards the end to DCA.

Example LBP chart

7/ If you buy in phase 1, phase 2 is where you DCA if the price is below of your initial purchase. What makes it a bit worse in this one specifically is due to phase 1, there are #NFTs who have 1 or 7 day vesting, holders of these NFTs can dump during that phase (for a loss)

8/ There can be a situation where price is not dumping, considering a lot of extra buying pressure can happen, but previous LBEs of $CHARM or $RING suggest otherwise. There is little reason to buy it at start and you rather just wait until it drops lower to buy cheaper

9/ Once phase 2 is over (it will be limited in time), we will move to last, the usual token trading phase where the liquidity will be put at the same price the LBP will end. It is likely to be lower than that start of phase 2 (or end of phase 1).

10/ So to summarize for degens: don't ape too much in phase 1, only because you have #NFTs that give you discount. If you're looking for more short-term gains (i.e. scalp), it's safer to be checking phase 2 and buying tokens then at cheaper price.

11/ With what I said above, at the same time if $OATH token gets a lot of buys in phase 2 or even start of phase 3, your investment in phase 1 might pay-off. So there's also higher risk & higher reward plays, but from past LBE experience it's not very likely.

12/ And to summarize, how you should probably be picking #NFTs to buy for this:

- Have a wallet with long-term #NFTs with higher discount & comfortable (to you) vesting period
- Be ready to #DCA during phase 2 (or buy in if you're scalping), but don't rush it first 24h

13/ For short-term play, I don't think you need #NFTs for these. The #Astrokid for example has only 1 day vesting, but I see little reason to buy that for the discount as you could rather just buy in phase 2 directly. If you got one already - you can risk some funds in phase 1.

I still haven't decided what I do, for me it's waiting game until towards the end of Phase 1 where I see if I want to risk vesting some of the tokens for a discount. I will definitely be buying in phase 2 though.

Feel free to share your start

15/ And to summarize, some links:

- Info on partnered #NFTs @ docs.google.com/spreadsheets/d…
- Info on Token by @0xBebis_ medium.com/@0xbebis/regar…
- Twitter @ByteMason
- Info on @beethoven_x LBP docs.beethovenx.io/balancer-v2-1/…

Discord -------> discord.gg/reaperfarm