Fantom meme season update #3
If you haven't seen my introduction post about Fantom meme season start there as it'll give you all the background you need for this.
https://www.bulbapp.io/p/0647e9bd-4989-4165-aeee-48ed50d10b0f/fantom-meme-season-will-it-work-as-intended?s_id=b3f02dac-e2c4-4dbc-90fe-f152d08a42fc
Overall Performance.
First round is now over and the winners were HOOPS, THC and sGOAT
Unfortunately LP positions were deemed ineligible so we didn't see any rewards from this round despite us holding all three winners.
So wasn't the greatest move to stay in the LP after all. We're down about 50% from our starting position.
All will change for Season 2, which starts 22 of July. See further on in the article for an analysis of that.
Beethoven X LP Tracker
We are now holding all our positions in LPs on Beethoven X and tracking the performance in those.
Memedex Comp: Season 1
As we flagged last time this could be quite a costly lesson for us if LPs didn't qualify and so it turned out to be. Whilst the swap fees have remained high and we've made a good return from them and BEETS incentives the overall value of holdings have declined significantly. 
Dogs In The Yard
We entered this LP pretty late in proceedings so we've not seen the value drawdown we saw from Memedex. APR has been falling of late though. 
Season 2: The game changes
It's fair to say Season 1 wasn't received with overwhelming positivity on Fantom. There was a lot of confusion throughout the season as the rules the Fantom Foundation had laid out were either not adhered to fully (still we see a number of token not listed on CoinGekco or CMC) or were just confusing.
Combined this with top 3 being so out of reach that it didn't make much sense to have any of the other tokens.
To the great credit of the Fantom Foundation they have taken all the feedback on board and for Season 2 we see a much changed competition structure.
The important points are:
- LPs now count for incentives (but only certain LPs, which thankfully Fantom have detailed in the above post).
- There's 6 prize tiers (see post for details)
- You can't win prizes more than twice. This really changes things as this means we'll almost definitely see our winners from last season be made ineligible at the end of this next season.
Scanning the liquidity landscape two things become apparent
- Equalizer is THE place to hold your LP as Beethoven X just does not have enough eligible LPs (Memedex doesn't count unfortunately) or the volume/APR in the eligible ones they do have
- A new challenger is likely the best horse to back.
So at the moment that race seems to be out of TANGO, fSONIC, and HOOPS.
Far and away the leading candidate seems to be TANGO. They are hammering the veEQUAL votes to push their liquidity numbers.
So we've moved all our liquidity into the LP
And we've directed all our veEQUAL votes at the TANGO LP.
Fortune favours the brave as they say.
Memecoin Roll Call
Let's meet some more of these ****coins.
HOOPS
W https://www.hoopsmeme.com/
X https://x.com/HOOPS_is_Sonic
TG https://t.me/HOOPS_Sonic
HOOPS won the first season by a landslide, and it's not hard to see why. They're kinda Fantom royalty. Started as meme from a post by the Equalizer founder and then adopted by that founder as their coin their TG and X really emphasise a unity approach to this contest. It's all very positive and very un-spammy as compared to the rest of the memecoins we've profiled so far.
TG and X are on the small side though (885 and 1393 respectively at time of writing). However both are good places to follow Fantom goings on in general regards if you hold any of the token.
No IP issues too. They've got an IP they're building that's all their own. Long may their success continue. 
THC
X https://x.com/TinHat_Cat
W https://www.tinhatcat.com/
Let's start out with the positives. No IP issues and a really good website, best one I've seen by a mile so far in this. Really funny and fun. Has lot's to play with. Has a neat take on meme generator.
Now let's look at the not-so-good. No TG. The link on Coingecko is broken and there's no link on the website or X account.
Now the X account is where it all goes downhill. This is a MAGA coin. It says it's a conspiracy theory and weed loving community but it's all just MAGA conspiracies and Trump election promos.
It's a real bait and switch compared to the website and what the token data proclaims.
And the content is really MAGA. Like frequent calls to violence, conspiracies about Democrats and liberals coming to get you, pro gun and gun violence against 'the left'.
All the stuff that has led the US to be the most dangerous developed nation on earth at the moment.
Really don't think Fantom should be incentivising this stuff. 
