My random story from summer 2023 that I want to share:
When LSD/LST narrative started getting hot, someone from @lucid_fi contacted me and said "we would like to work with you!"
Day after, we agreed that I would be an CMO for $400/monthly and my responsibilities are:
- Communicating with KOLs and negotiating prices with them (a.k.a. dumping prices)
- Post about @lucid_fi on my own page
- Write templates for other KOLs so we could pay them less
For some context, they've set aside 7 ETH (~$11.5K back then) for marketing from personal funds.
Everything was great, we were buying promotions, everyone was so excited.
On the inside, the co-founder showed me that they paid $30K for audit (from @CertiK if I remember correctly).
Shortly after, public sale was announced, as well as the website. On the day of public sale, website wasn't working and no one could deposit funds.
Co-founder dissapeared. Promotinos were made. Money wasn't raised from people. That's how it ended.
Having reexamined the upcoming innovations in the CDP category by crvUSD and Liquity, we have made the decision to discontinue Lucid in its current state.
The team has determined that it would be morally wrong to raise funds for an architecture that we cannot fully commit to in the long term, even though the protocol is fully prepared for launch with audit completed.
We extend our best wishes to everyone for their future endeavors in this invaluable DeFi ecosystem, and we aspire to work towards creating something genuinely impactful in the times ahead.
PS - DM us if you are at ETHCC and would like to discuss possible innovations for LSDfi stablecoins!
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