Content

Project Overview

ContentmentCoin is an ERC20 token on Base, launched as a commentary on the Base team shilling endless "ContentCoins"

Backstory

• ContentCoins are just memecoins launched from Brooklyn, typically on Zora.
• They were advertized as a net-positive for creators, as they could earn from their creative output by getting 0.5% of each trade.
• In our opinion, this was just a way for Base and Zora to make infrastructure fees at the expense of creators.
• Usually, traders make all of the money and creators manage to make a few bucks at the expense of their reputation.
• Convincing creators to launch tokens without knowing how angry people get when they lose money is fairly irresponsible and has dangerous consequences.
• No one is buying them for the content, they are buying them to bet on the person launching them—the only tokens worth anything on Zora are launched from someone affiliated with Base/Zora/Farcaster, etc.

Commentary

• In a form of protest, we launched "ContentmentCoin" to show how we'd create an actual ContentCoin.
• When users owned at least 1 token, the art would show as an ERC1155 NFT in their wallet automatically, allowing it to be viewed on all marketplaces (where minted Content usually lives).
• The image was stored on-chain as an SVG and would alternate between 3 states. If the last trade was a buy, it would show a Happy face. If the last trade was a sell, a sad face. If there was no trade in the last 5 minutes, it would return to Content.
• We created a custom v4 hook that would take a variable creator fee based on trader profit. If the trader >=2x'd, we would receive 10% of their trade when swapping from ETH -> ContentmentCoin. If they broke even or lost money, the creator fee would be 0.
• This is a better way to reward creators while aligning incentives with traders.

The Launch

• Fair Launched by pairing the full token supply in a single-sided Uniswap V4 liquidity pool.
• The paired NFT worked perfectly and was minted/burned every time a new holder entered.

Wrap-up

This was a quick one-off idea that we had and wanted to execute, similar to Golden Handcuffs.

I think there's something here with having a singular contract inherit both ERC20 and ERC1155, and it makes more sense to adapt to the current standards while pushing the envelope of what's possible rather than creating something and expecting current infra to adopt it (like we saw with 404s, and these ERC20s with images attached).

We ended up earning a few Ether as a result of the aligned incentives from the v4 hook, demonstrating the concept as a success.