Fairpool

We talked about our next steps. Right now we need to finish the pool page, so that we could start launching the pools. The pool page is already functional: it has the buy & sell forms, along with the influencer profile. To make it complete, we need to add three more sections: the token value proposition, the list of historical trades and the price chart. We'll start with simple versions for th...

Some influencers asked us for guidance on how to choose the pool parameters: speed of price growth, size of royalties & dividends. We’re going to prepare this guide for them, since it’s quite important to get those parameters right at the start. It won’t be possible to change the speed after someone buys the token, and it will only be possible to make the royalties lower (this is fair to the h...

We’re changing our name from Coliquidity to Fairpool & rebranding existing assets. The website is ready, we just need to update the social media accounts & the token smart contracts. We’re keeping the same token, just changing its name. All balances are preserved, and the contract addresses remain the same. Additionally, we’ve decided to change the pricing formula in the Fairpool smart con...

We’ve finished the testing of the Fairpool contract & moved to frontend development. We’ve already implemented the “Connect wallet” / “Switch network” functionalities with RainbowKit components (thanks a lot for publishing them!). Right now we’re working on “buy” & “sell” methods, which would allow the traders to interact with the contracts. After that, we’ll move on to the actual deployme...

We’ve fixed more bugs in the Fairpool smart contract. The reason those bugs existed in the first place is that we had to implement a lot of optimizations to ensure that transactions with the Fairpool contract stay under the gas limit. Due to optimizations, the contact code diverged from the original simple version, and the bugs arised in the more complex code. We’re glad to have those bugs fixed n...

Updates on testing: We’ve explored multiple tools for smart contract testing. We have found a couple of minor bugs in the Fairpool contract. We’re glad we’ve found them early, before any major deployment. We got an idea for a new kind of testing framework: the one that generates simplified versions of a contract that match the behavior of a full contract under specific conditions. We’ve decided no...

We feel that the Fairpool idea has been validated, and we want to move forward with the development. Right now, we need to complete two tasks: Add more tests for the smart contract. Build the user interface. We’ll implement the user interface using the admin panel package to save development time. It’ll work like a regular CRUD admin panel, but with the blockchain integration (in addition to the d...

We found a successful strategy for attracting potential users for Fairpool. It’s the good old local meetups that worked for us - we got 3 more people willing to try Fairpool. Now we’ll try scaling this approach by hosting online “structured networking” events. If a person wants to participate in a networking call, he / she will need to specify the requests & the offers - what he / she needs an...

We talked about our decision-making system. We feel that it’s the most important thing for building a company. If our decision-making system is good, everything else will fall in place. However, it turns out to be very hard to design - and that’s the reason most companies continue operating without one (wasting time on pointless meetings, and wasting resources on pointless products). Our system is...

We talked about the optimizations to our influencer outreach process. Right now, the most time is spent on two processes: 1) Finding the right influencers 2) Finding their contacts. We decided to write a parser for the social media profiles, which would allow us to minimize the time spent on the 2nd process. We’ve already reached agreements with some influencers, and we’re now looking to expand ou...

We talked about the influencer outreach process. It’s quite tedious - we have to filter through a lot of noise to get to the actual genuine influencers. There are two types of accounts that we are filtering out: we call them the “fans” and the “salesmen”. The “fans” are influencers who are dedicated to promoting a specific asset. We’ve seen multiple channels focused squarely on XRP, HEX, CRO. Obvi...

We’ve discussed an idea to increase the response rate in our influencer outreach process. The idea is to create the demo pages tailored to specific influencers. These demo pages would contain the name of the influencer, the links to his social media profiles (along with the follower counts), the estimated lifetime earnings (as if he/she created a token already), the chart, and the buy & sell b...

We’ve started contacting the influencers through the influencer-specific marketplaces, went to a local meetup, asked some friends for influencer contacts. The approach with the influencer marketing managers didn’t work out. We’re not ruling out the approach in general, but we are ruling out that specific freelance marketplace where we found them. Most likely, there are more qualified managers out...

We’ve hired 2 people to help us with the influencer outreach. We’re open to hiring more people for this job, so if you’re interested - let us know! Also, we’ve brainstormed more ways to contact the influencers. Some ideas include: * Post comments on their content (crazy simple, might work anyway) * Buy ads in the engagement pods (special groups where micro-influencers share content to increase eng...

We’ve started the Fairpool Agents program: if you refer an influencer to us, we’re going to share 50% of revenue with you. Specific terms: * The influencer must create a token & publish a link to the token page on his/her social media. * You will receive 50% of the commission that we will receive from the influencer’s token contract. Since we receive 2.5% on every sale, you will receive 1.25%...

We discussed the recent case where Kim Kardashian has been charged by the SEC for promoting an unregistered security. It’s not a problem for Fairpool because: Any influencer can create a personal token which is not a security by simply setting the dividends to zero. No dividends = Not a security. Any influencer can explicitly mention that this token is not offered to the residents of the United St...

We discussed our progress (2 influencers signed up) & talked about supporting fiat payments via credit / debit cards. Our influencers told us that most of their followers don’t have crypto, so they need to buy the tokens with credit cards. That’s an issue because the tokens must be bought through a smart contract, and you can’t call a smart contract with a credit card. One solution is to imple...

We talked about charitable tokens - an idea that could help Fairpool reach a wider audience. It’s always easier to promote a product that is associated with a greater good for the society. Examples include Bitcoin itself (as non-custodian money) and Stepn (an app that pays you for running). In Fairpool case, we can create special tokens that pay royalties to a charity. This way, influencers can pr...

We’ve started working on the frontend app for Fairpool. We’ve initialized the app & set up the deployment. We’ve picked a new website theme (took us a while, because none of the themes matched our technical requirements exactly, so in the end we had to settle on a theme that was close to what we needed, and then adapt it). We’re currently working on a landing page, so that we could show it to...

We've finished the smart contract code & moved to the testing phase. We’ve also found a solution to a very important issue: running out of gas in a sell transaction. This happened when there was 500+ token holders, so the fix was urgently needed. The issue was fundamental in nature because the block gas limit is fixed, so we had to find a way to stay under it, no matter how many holders we wou...

We talked about Fairpool marketing. Fairpool is a great proposition for influencers, because it allows them to make 75x more money than referral links. Let’s compare a Bybit reflink with Fairpool. These are very different products, but they both make money for influencers, so we can compare them. Bybit: ~20% referral fee on 0.1% trading fee = 0.02% from each trade. Fairpool: 10% royalty at 30% spr...

We discussed a new product idea - Fairpool. Fairpool is a smart contract that buys & sells its own token. It makes money on the spread between the buy & sell price. When it makes money, it distributes the profits between the current token holders. Essentially, Fairpool is a combo: liquidity pool + token. It eliminates the need for a separate token. Also, it prevents the rug pulls, because...

It’s possible to determine the general virality of the narrative by the form of its spread. Just like it’s possible to determine the R-value for a virus, it is possible to determine whether the narrative will continue spreading just by looking at the initial data: the relationship between the primary message & the secondary messages that are published as a result of people reading the primary...

We discussed different kinds of supply: * Max supply = the amount of asset that can ever exist * Total supply = the amount of asset in existence at a specific moment in time * Locked supply = the amount of asset that can't be transferred within a specific time period * Circulating supply = total supply - locked supply * Free supply = same as circulating supply * Pooled supply = the amount of asset...

We discussed the quantity-to-quality transitions  - an important factor in the narrative analysis. Summary: Some quantitative changes result in qualitative changes. For example, if the energy price goes 10x, suddenly your factory is producing at a loss. This triggers a change in behavior, which is reflected in the market. In general, each quantitative scale (price, volume, supply, ...) has ce...