Rokfin dumps their *I poop my pants, don't laugh at me*coin RAE

[jammenz]

There is a lot happening at Rokfin: https://www.indiemediatoday.com/p/rokfins-bizarre-behavior

[Wrestleknownothing]

I do not have a huge amount of sympathy for this person who does not read their emails about the business they are running until it is too late.

That said it looks like the last trade in RAE was in Feb of this year. Curious.

Also curious how the economics work at this point.

It used to be they took in dollars and paid out RAE at some made up ratio that would keep some of the dollars for themselves. Then the creators would have to sell RAE to get ETH, and then sell ETH to get USD, paying for the privilege at each turn.

Then an avenue was opened up to the creators to sell the RAE for USDC, then sell the USDC for USD, paying a transaction fee only once.

But given the lack of RAE trades in either ETH or USDC for the past 5 months, it makes one wonder if Rokfin has just dropped RAE. Liquidity was certainly hard to come by.

Does Rokfin now collect USD, buy some USDC (or other) to hand out and keep some USD for themselves?

I could see a scenario where they do this for the content creators they want to keep around and just ghost the ones they do not. Seems a crappy way to run a business. Or maybe it is a great way, but only certain personalities can do it.

[Jason Bryant]

I scoured my email and couldn’t find anything from Rokfin about USDC. I was a creator for a short bit on the platform and got small residual RAE from every couple of months after I pulled my stuff off the platform. Haven’t received anything in months and no idea if I ever will again. No idea if I’m owed any Schrute bucks or a legit stablecoin. So even though it’s not any part of my income, I’d be annoyed if I didn’t get anything either. Not sure what the WR content creators on the site are dealing with but some of the larger ones are still using the platform.

[1032004]

Has Martin dropped any more unhinged video rants recently?

[jammenz]

The article says he's started a new business.

[1032004]

1 hour ago, jammenz said:

The article says he's started a new business.

I know he’s doing the “Boutboard” thing, not sure if it’s referring to that or something else