KittyBot Action and How I F*cked Everything Up
Hey KittyBros. This is a story of how I f*cked everything up (censored so as not to offend a wider audience). But first, we start with bots!
Arbitrage bots are a part of what makes Kitty special. We have multiple liquidity pools. We have Kitty Liquidity pools with PregnantButt, with FuckJannies, with Saitama, Hoge, and one more pool I will get to in a minute (see the second part of the title). It’s a cool concept.
When Kitty is rising, or as of late, when Kitty is falling, the bots come in.
Say that there are some big Kitty BNB buys (for argument, just pretend that there are buys for argument’s sake). What will happen at this point is that arbitrage bots come in, buy Kitty from one of the other pools, sell it to the BNB pool, and buy the other token, say Hoge. It’s a cool system. It prevents Kitty from mooning (or falling) too quickly and prevents the transaction list from looking totally red or totally green. It smooths the transactions. That’s the idea.
How has it worked in practice?
Pretty well, actually.
Let’s look at the Kitty-PButt pool. There have been, as of right now, 149 transactions involving this pool. 14 of those were liquidity adds or removes, 1 was a swap, and the rest were transactions by arbitrage bots.
Particularly at the beginning, this pool sold a lot of Kitty and bought a lot of Pregnant Butt (okay, the bots do this, but it is helpful to think of it as the pool doing it). You can see that the pool sold Kitty 81 times. Lately, the pool has been selling lots of Pregnant Butt to obtain lots of Kitty. Though price has fallen, the pool has taken in Kitty 53 times. These transactions typically amount to somewhere between $20-$40 and have a nice psychological impact.
The more pools like this that are in place, and the larger are these pools, the more price stability we find.
Here is where I f*cked up.
I decided to create a new coin — Lil Squeakers :3 (ticker: Mousey). Adorable, I know. I used DXSale.app to create Kitty, but DXSale did not offer anti-whale mechanics. For this coin I went to mudra.website. Do not use their token creator.
I created the token and launched it. 24% of the token was placed into a BNB-Mousey pool, and 74% was placed into a Mousey-Kitty pool (I know, hilarious!) But as the buys were coming in, I noticed that bots were not performing their arbitrage duties. I figured something was wrong.
I was right. They were not performing their arbitrage duties because this website had created me a .3 BNB honeypot. Furthermore, I renounced the contract and burned the LP before launch. What this means is that now I found myself in the position where I had to warn everybody that this is a honeypot and had to give them their Kitty back (I did not have the BNB to reimburse in BNB, sadly). So I reimbursed everybody to the best of my ability, sending out millions of Kitty in the process.
Thankfully, the lack of arbitrage warned me that this was a honeypot. Also, somebody said it was a honeypot…they warned me too. But mostly the arbitrage bots failing to perform their duties.
If the coin had worked, the pump in Mousey would have also flowed into Kitty, hopefully leading to a price reversal.
We may pursue this further in the future. Thank you.