JEFF Launch Week Wrap-up (and road ahead)
I think everyone following JEFF closely can agree that something really special is in the works. A lot was accomplished in this first week, more so than I envisioned possible, and this project is in a really great place to turn a lot of heads and set a new standard for personal tokens to follow. Let’s recap:
After a successful token sale, JEFF hit the open market via Uniswap. Here’s the numbers to dial-in on after a week of trading:
- JEFF Price: $2.20 (token sale: $2)
- Fully diluted market cap: $129,000
- One-week volume: (~$700,000 [over $300k on day one])
- Token holders: 135
- JEFF burned: 1,200 (2% of total supply)
- Public Telegram members: 302
- Private JEFF Group members: 67
- New Medium articles: 5
Keep in mind, JEFF burns come entirely from project revenue. 50% of JEFF payments for group membership and professional services. 1,200 burn (as of yesterday) corresponds to 2,400 JEFF revenue, which breaks down as follows:
- 55 JEFF Group membership purchases (2,200 JEFF)
- One month advising (160 JEFF)
- One hour consulting (40 JEFF)
Note: JEFF Group members exceeds membership purchases because early Telegram members (when the group was dedicated to my blog) had a window to join, and total members also includes myself and the four JEFF advisors.
For a token that started with nothing to build out multiple working products AND record several thousand dollars of revenue in one week is, in my opinion, very impactful. Keep in mind there are major projects in this space with live products that don’t see the same traction. JEFF ($129k mcap) revenue is outpacing Augur ($75 million mcap) revenue over the past week.
Of course, the numbers only paint part of the picture. In order to get a complete overview, we similarly need to highlight everything built by JEFF in this timeframe.
Building JEFF Group
When JEFF launched, JEFF Group was nothing more than an inactive Telegram pre-seeded with a handful of followers of my satire blog. That group is now close to 70 strong, and all members have had nothing but good things to say. Here’s what JEFF Group is now:
A Telegram/Discord dual-community. Telegram chat is reserved for candid discussion, while Discord provides dedicated channel topics (success stories, “what went wrong” trading reflection, shitcoins only, to name a few) as well as a library of technical tutorials. That library currently features four tutorials culminating over 5,500 words, pictures, and links on the following topics:
- DeFi Lending and Yield Farming
- Frontrunning IDOs and Farming Pools with Etherscan
- Gem Hunting Philosophy
- How-to Fix a Stuck Metamask Wallet
The Discord also features my portfolio, updated as I trade, current token to farm, and coins I’m keeping an eye on in my watchlist.
JEFF Group members have had a very successful set of calls this week. We accumulated SWFL between $0.08-$0.12 and sold between $0.34–0.38. Many members had success farming Kimchi and then Pylon (multiple members reported earning five-figures worth of Pylon [FOR FREE. WE’RE FARMING]). Now the group is buying [redacted] and farming [redacted].
JEFF Group x R O B N E S S
The #1 grossing artist on Rarible and visionary behind the growing “Trash Art” movement has created a 100 mint “I AM JEFF” NFT to be airdropped to the first 100 members of JEFF Group. Spots are still open, and given the going rates for his work, this NFT pays for the membership cost on it’s own. Beyond that, it’s the first freebie for JEFF Group members, with many more to come. Read more about it here.
Aegis DAO Invests in JEFF
Aegis DAO, whose members recognize me by my fruitful contributions to DXdao and other communities, passed a vote to invest in JEFF, and currently hold the token. This may be the first ever instance of a DAO investing in a person. Aegis DAO is well known for their work in investigating the MYX token sale scam and taking the MYX team to Kleros Court.
Website is Live
The official JEFF website, iamjeff.eth.link, is now live. It is a “decentralized” website, registered via Ethereum Name Services and propagated by the Ethereum network. There isn’t a whole lot to see yet, as it’s only a placeholder, but this gives the project a big leg up in listings and represents a central hub of information in the near future.
Road Ahead
Moving forward, my main priority continues to lie in building out as much value as possible for JEFF Group. This, of course, includes more technical tutorials and more resources. Beyond that, I plan to move JEFF Group towards a full-fledged DAO, where members have voting rights to dictate any changes or decisions with JEFF token (like changing JEFF service prices, for example).
I also need to build out the permanent website. I will be coding the website myself (to further prove I’m not a larp) so this may take a bit of time.
Beyond that, business development will be the long-term focus of JEFF. I’m already in communication with several different developers about securing token allocations to airdrop to JEFF holders, along with other communications about mutually beneficial cooperation. I am also in the search of a market making service that will enable JEFF to get listed on centralized exchanges. If you think you can help, please do not hesitate to reach out.
