Episode Transcript
[00:00:00] Out of cycle Update Phantom Libero. Looks like your bag got ghosted. CryptoTalk FM. My name is Leister, I'm your host sharing an update because of course, as I told you multiple times, the devs on the project suck at communication. Only to have a couple of die hards come at me talking about they could talk. Good deep deets and telescam. Now fast forward. And obviously these numb nuts killed the business on Libero. It doesn't exist because they were jumping on Libera because they said Libera was solving the problem.
[00:00:35] You might be out of the loop, you might have been offline because you don't follow social media. Kudos to you. But you might be offline. Get out of the loop. So I'm gonna summarize first, then I'll get to the update about Phantom Libero, which is F. Libero. So the long and the short is Libero launched to a lot of hype, gets all the way up to a penny. I warned multiple people, make sure you're taking profits. Because I wasn't confident in what was going to happen. They built a passive rewards model. Now there was a flaw, not because of them directly, but because of why they did what they did.
[00:01:06] Rebase was the primary reason that they were able to distribute rewards to people. Basically Prince and Prince and Prince and Prince tokens all over the place.
[00:01:14] Many of these projects, you know, Titano, Auroboros asset, asset protocol, there's tons of different ones, Seifu, car salesman, garbage, tons of ones that did the rebase mechanic to try as a gimmick, to try to get people in and arguably generate a lot of money. Now the flaw of a rebase mechanic is it makes one fatal assumption, which is a continuous buy pressure. Because what happens is that the rebase is at the contract level. The rebase being at the contract level means that the liquidity pools are also getting those distributions of tokens. And they only did a positive rebase if you don't do a negative rebase to balance out the positive rebase. What you're essentially doing is a form of inflation that never stops. And they apparently they wrote it in the contract in such a way that even they could not fix it. They had a certic audit, cert called out the rebase mechanic, but certik even did not call out the long term ramifications. So they launched Libera because they were going to say we're going to wrap Libero into Libera. And then that became a Fiasco because they said they were going to launch on lbank and other exchanges, which never happened, as of course leister at CryptoTalk FM warned you was never going to happen. I didn't think it was going to. I said, first of all, this is probably not going to happen. Communicate to the investors. They ignored me. That's fine. So Libera didn't go anywhere. It dumped, crapped, and it was what it was. So then they started migrating away and they were doing these gardens and miners and all these things that in their own white papers they claimed were bad things. But yet to this day, to this day they've got papers and screens on their site telling you that miners and gardens and all that stuff are not good for liquidity. Yet they did it anyway because everybody else was doing it.
[00:03:05] Fast forward. Libero doesn't exist. Libera doesn't exist. They launched this Key of Life crap. They had largely left Phantom Liberal alone. However, in their quest to leave it alone, they didn't do anything advantageous to it either. They kind of went all in on Key of Life crap and Thorium to a lesser degree. And then the NFTs, which are garbage because that left behind Multiverse Capital and Epic Hero. But then with F Libero, which is Phantom Liberal, F Libero Financial, it's still out there. It generates awards, but the site doesn't work, so you can't tell how many rewards you get. You can't tell what your current status is. And it was printing and printing and printing. They did a Dow vote about cutting off the rebase. When they acknowledged that the rebase was causing this problem, they knew that F Liberal was going to be jacked up too. The community voted against killing off the rebase rewards, no problem. But the real issue is that the team didn't do anything to advertise F Libero. They didn't do anything to promote it. They didn't do anything to put it over. They basically just abandoned it.
[00:04:06] Initially, that was fine because people were buying. When people stopped buying during the Bear period, F Libro now has this insane inflation to where you get crap, tons of tokens, they don't mean anything. Well, now you also have the issue that Phantom Network, the blockchain, has switched over to Sonic and there's going to be a cutoff where you're going to need to migrate these bad boys over to the Sonic equivalent and it's up to the developers of whatever project to migrate the liquidity pools over to Sonic. So since it seems to me that the team has largely abandoned F Liberal at this point. I'm going to share the opinion and we'll see because there was a couple people said I don't know what I'm talking about. Even the allegedly one of the mods or somebody, the dev claimed that Leister crypto talk radio CTR didn't know what he was talking about and people should ignore me. Even though if you go back to all my coverage, I was spot on with everything I said, give my credit. But the point is I'm simply telling you as my statement and let's see if I'm wrong, let's see if I don't know what I'm talking about. I'm going to tell you that your stuff and if you were in F liberal because I know like Dion, he was in it and a couple others, I'm going to tell you that your stuff in F Liberal is probably toast. I'm going to bet they're not going to do anything to migrate it. I'm going to bet they're not going to do anything with it because they're going to claim there's not enough money or not say anything at all because I haven't heard hide nor hair from the team about F Libero to this point. So my message, and it's my statement didn't come from them because they won't talk to me is I believe your F Libero, whatever you had in there is a loss. Treat it as a loss. You're not going to get anything back even after because remember some people have a four year lock if you locked in the bank so by the time it unlocks Phantom might even not even have any liquidity left. We don't know, right? So if they don't do anything that's loss of money and then they basically abandon you. Now there could be the opportunity to go to a V2 because that was a Dow vote that the community shot down. So if they, if they're listing, which I doubt they are, but they are and they choose to take the opportunity to do a V2, they can put the Dow vote up again and hopefully my voice will lend credence to. There's an opportunity there. But you got to be realistic. If they're not going to be able to do rebase because they don't know the hell they're doing. If because you have to do both, you have to do negative and positive and the community doesn't want the negative rebase, that means it's not going to win. What else is there? If you don't have the rebase, you don't have the rewards. Why? Is there another reason? Plus, the devs leaving people behind on Libero probably left a bad taste in people's mouths. So I say treat it as a loss. Chalk it up as a loss that your money is gone, because I strongly doubt they're going to migrate over to Sonic, and it's up to them. It's nothing the Phantom or Sonic team can do. Ultimately, the Libero devs, whoever they may be, would have to take the effort to make sure that your buddy is not left behind. But as we saw with Epic Hero and Multiverse Capital and Garuda and Cerberus and the various Thunder Tokens, it's strongly probable your money's gone, Your money's took.
