Project founder Mark Bailey here. The launch of Rstory on Solana was a success! No bundled buys, wash trading, or noticeable sniping occurred. In the absence of these practices, trading volume was low on the first day.
Once the market was open, distribution began. 1m tokens were given to each of 8 Key Contributors who agreed to support Rstory on an ongoing basis. After the funds were transferred, one of the KOLs immediately sold all tokens and ghosted. Here's who we have at this point:
This is a great start to our leadership group but the situation raises an issue. Now we need 5 more Key Contributors but we only have funds allocated for 4 more. Should we divide the remaining 4m tokens among 5 new Key Contributors? Should we use tokens from the general contribution fund to cover the shortfall? Should we just settle for 11 Key Contributors? This is something we'll be talking about in the telegram group so please join us there if you have an opinion about it.
There are 3 things the token needs right away: a deeper liquidity pool, listings on DeFi sites, and increased activity.
There are Rstory tokens available for deepening the liquidity pool as warranted by market conditions. Improved listing on Dextools and Dexscreener costs $600-$1000 total depending on if they're having sales. These listings are a priority, but there aren't yet funds available to buy them. The threshold for seeking other more prominent listings is 1k+ total users with a market cap of $100k+.
Right now we're collecting digital goods from creators to showcase their work on rstory.io. There are books and an art gallery so far. By aggressive outreach, we intend to attract many more creators to the network. To encourage people to create their own Rstory site, we're putting together a toolkit that will be made available on the project's Github.
It is possible to contribute to the network by performing service for another member of the network. Service commitments may be assigned a token value which is paid by the service recipient or by the network itself. In order to prevent people from gaming the system, robust safeguards will have to be established. Conversations about these issues of valuation and safety are underway.
There are a few areas where tech development is progressing. First, there are the smart contracts: cross-chain AMMs, collaboration contract (may already exist somewhere), and ad auction contract to start with. Next is main website development, beginning with a new digital goods showcase feature, followed by a dedicated products page, and eventually a dedicated network index page. Work on the Rstory integration toolkit also falls into this category. If you're a developer interested in working on any of these things, please let us know!
Rstory was made for people who have never used crypto as well as for people who are already crypto-savvy. For the former, it promises increased exposure for the products of creative endeavors and the opportunity to participate in a whole new kind of economy. For the latter, it promises a collaborative community, reassuring transparency, and sustainable tokenomics. Both groups are equally important to the endeavor so outreach will initially proceed along two paths to better speak to everyone we want involved.
