Honestly, we need to chat about DeFi

CA: 0x03597089915f28ee5c3410A316387850DF719A06

Chart: https://dexscreener.com/ethereum/0x42e4c7d223406cdff3ab997b9e13e6cd51632f0d

Socials:

Website: HonestlyERC.com

Telegram : t.me/HonestlyERC

Twitter: Twitter.com/HonestlyERC

Honestly, we’re all getting tired of the current state of DeFI. BTC has been trading sideways for the past few months, ETH is ranging between 1–2k, altcoins are down at least 70% since last year, and “shitcoins” are barely hitting 1M MC with most getting rugged or dying before 100k MC.

Honestly, I’m tired of

• The Japanese meta and the 1000 coins trying to be like Tsuka. Most of us can’t even pronounce these coins out loud. Someone could launch a token named “Tawagoto” and people will ape it because its Japanese even though it literally translates to “shit/bullshit” in English. Shiba is Shiba, Tsuka is Tsuka. Honestly, if devs were original or attempted to be somewhat creative, I believe it would take these coins further, bear market or not.
• Metas such as classic, inus, and baby tokens for coins that barely reached 500k MC. Can’t forget about these copycat devs with no originality that try to suck liquidity and attention off a new project that’s doing decent. For example, someone can launch a token named “Microwave” and once it gets some traction, here comes “Toaster, Oven, and AirFryer inu” launching 2 minutes later. Honestly, that was a bad example but you get the point.
• Scammer devs that will literally either remove liq/honeypot after their coin reaches 10k MC. Most of these devs will put 2 ETH in liquidity and then rug when the liquidity gets to 3 ETH. Another example is they will add too much liquidity so the chart doesn’t move then they rug before buyers are up 25%. What makes it worse is that there are devs and dev teams that do this multiple times a day. Honestly, this dilutes the DeFi space and makes people not want to ape or they sell quicker than usual because they just got rugged 5 times that day and need to make up for losses.
• LARP coins. People shilling saying “this wallet is 500 days old, this has to be alpha.” Another example is “this dev had a coin that went to 5M during the bull market so this one should at least hit 500k.” Last but not least “This wallet is 5 jumps away from a Shiba whale.” Honestly, most of these LARP devs are 1 hit wonders and are just tax farming off the same deployer wallet.
• Tax farm coins where the taxes are so high that the dev doesn’t even care if the project survives because they just made bank in taxes and won’t even do a buyback out of good faith. This also goes for devs that snipe 10–20 max wallets and dump on everyone trying to support their project. Honestly, anything with taxes over 15%-20% round trip isn’t even worth putting your money into and most of the time when charts get jeeted to death, it’s the devs doing it themselves.
• “Insidoor” coins that get big buys during launch and dump after the first candle. This also goes for hyped launches that claim they have “anti-sniper” methods and say “don’t buy until posted in chat.” Honestly, they just launch fake contracts to steal liquidity and then allow their friends to buy before everyone else on the real contract which causes an instant dump at launch that rarely gets higher than the first candle.
• Scammer callers that got one 1000x last year and have been milking their followers this entire bear market. Most of them are devs or friends with devs and just call their own coins after sniping 30 wallets and dump them as soon as you buy. Honestly, most callers don’t care about the people who follow them and use their followers as exit liquidity.
• 0 Tax or Community coins. This is up for debate but at the same time, what dev would risk their liquidity and spend time on a project that doesn’t benefit them at all? My theory on most 0% tax tokens is that the devs buy multiple max bags at launch and sell them as soon as everyone else buys to get their initial liquidity and some profit back. Most 0% tax tokens get initial traction and then die off within 24 hours. 0% tax or very low tax tokens also invite MEV bots to sandwich supporters’ buys and rob them which is off-putting for that investor and other investors watching it. MEV bots also make charts look unauthentic when there are random spikes from a MEV bot buying $100k worth just to sandwich a $50 buy. Why would a dev even care about pushing a project if they get nothing in return? When it comes to community tokens, that means that the dev wants to sell their tokens in peace and give the community-building aspect of a project up to a random holder which is risky in reality. Community-made TGs risk giving control of the community to someone who could have bad intentions. I’ve been in community token TGs where the creator of the community TG pushes it then sells their bag and deletes the TG which results in destroying the coin. Honestly, having some taxes seem safer than 0% tax tokens and community projects devs can at-least show up in the TG to show support and/or send frequent Etherscan messages.
• Whale jeets. The big money wallets that will ape .5–1 ETH or buy up most of the supply then sell at a 2x making it hard for the little guy to make any money. Honestly, any coin that allows wallets over 2% is just an indicator that either the dev or these “killer whales” will kill the coin and leave the rest of the holders “holding the bag.”
• Fake Utility tokens, all these damn NFT marketplaces, NFT projects, and Crypto gaming projects that will never come into fruition or no one would use even if they created them. No one wants to play your crypto game that you bought and reskinned off of Unity. Honestly, the only utility people care about is a green chart.

Honestly, I decided to make a token that does everything right and see where it goes.

1. I’m only putting in 1 ETH into liquidity. Honestly because low liquidity coins can pump the hardest + half of taxes go to liquidity.
2. I will renounce and lock liquidity initially for 1 month. I plan to lock liquidity longer if the project survives.
3. .5% max tx, 1% max wallet so 1 person can’t dump. Yes, I understand people can multi-wallet but either way, no one wants to see 1 holder with 4% of the supply.
4. “Fair”/“Stealth” launch. The plan is to launch, let the bots get out then start telling the public/private groups I’m in that I am the dev and that the contracts are safe. No guarantees it will moon, but at least you know it won’t rug.
5. Tax will be 6% buys/6% sells. Slippage of 7%–10% should work unless its volatile. 3% goes to liquidity and 3% is “Marketing or Buybacks.” Honestly, the real question that needs answers is “What is even marketing in the bear market?” No one is buying coins based off banner ads, most callers are BS and get no volume, and most marketing nowadays is sending JoeGrower coins and hoping he calls. The best marketing is volume and the community shilling and supporting dips, other than that “marketing tax” is just “dev tax.” Another thing I’ve been realizing is that “buy contests” are usually a sell signal. Most of the time, “buy contests”” are just for developers to get more volume aka tax money in their wallet. After taxes exceed my initial liquidity, ill do some buybacks and/or add to liquidity. Honestly, what else more can I do but use some of the tax money for buybacks, support the chart, and stay active in the TG chat?

Honestly, if you participate in this project I would like you to know…

1. This is the first coin I’m developing. I will create test contracts beforehand and make sure everything is working before the real launch.
2. I honestly don’t want people to lose money. Take initials as soon as you can, I nor any other developer can promise if it will 100x or die within hours. Crypto is a zero-sum game, so if you’re up 5–10x, the smartest thing to do in any investment is take your initials+some profit as soon as you can. For example, if you ape .01 ETH and it 5x’s to .05 ETH, sell 50–75% to get back .025 ETH and leave the rest. That way, if the coin dies, you still made money by getting your initial investment + 150% of profit, and if it 10xs from there, you still have more profit without any risk. If you don’t take profits, remember someone else will. A good strategy is selling 50% at the local top and then rebuying when it dips lower to gain more tokens for the same price. This goes for this project or any other project.
3. If you want to diamond hand, then diamond hand but know the risks. If you want to jeet,then jeet but think about how you’ll feel if it keeps mooning after you sell. If you want to shill, shill. Im not expecting you to do anything. The best shilling tactics are checking price/honeypot checking the contract in groups you are active in and then shill it like a human being. That copy/pasting shilling method is nowhere near as effective as just talking about a coin like you would an IRL friend. Then after you shill once, wait until you’re 2x or 3x and reply to your initial shill saying “I’m 3x on this so far.” Honestly, there’s no better feeling than helping your crypto friends get in on a good coin and helping them make money. Forwarding big bobbybots buys work as well. Another tactic is on Twitter, use hashtags and reply to your favorite crypto influencer’s recent tweets. Most tweets only get engagement in the first 5–10 minutes so it’s best to reply and shill on tweets that were just posted. Commenting on your favorite call channels works too, but don’t spam and be annoying. Don’t start doing raids in the main chat. If y’all want to create a shilling/raiding team, make a separate TG.
4. In the event we have a big initial run-up and people start jeeting quick, try a small buy during dips. If they jeet too hard, just wait like 5–10 minutes after the selling stops to buy more. People like seeing reversals in charts but I don’t want you to get chopped up in-between people selling. Find a good entry and split your buys if you can afford to. For example, if you plan to ape .1 ETH in this project total, maybe put in 25–50% of that initially, then 25% if it dips below your initial entry, and the last 25% when it bottoms out or its mooning and you want to support the chart and help it break new ATH. That gives you the highest chance of profiting.
5. Whales attract whales, chads attract chads, jeets attract jeets. If someone sees whale wallets aping and holding, they will do the same, if people see everyone jeeting for 2x, they will do the same. Since the initial liquidity is so low, it will be volatile. 3% of buys and sells go to the liquidity so with enough volume, the chart will stabilize and attract bigger buys after time if the project survives. Like I stated earlier, I promise to do buybacks, add to liquidity, and lock liquidity longer IF we all continue to support.

To be more authentic and transparent, I will be in the Telegram Chat using my main Telegram username. Im doing this because i’ve built trust in most chats that i’m in and to show I honestly have no bad intentions. I won’t overpromise anything but I am considering launching some utility that’s different than the norm.

Honestly, this was longer than expected