Degen is in its sophomore slump 

Tipping was incredibly innovative and coincided with FC’s frames moment — the tailwind that put Degen on the map

Since then, the L3 has flopped and nothing else bold has been tried

Now’s a good time to bet on Degen if you think it can catch lightning in a bottle one more time

friendly neighborhood anon // crypto angel + advisor + shitposter

Pragmatism (Security) at OP Labs.
Prev: ConsenSys & Coinbase.

Attribs: Friendly, curious, introverted, mid-witted.
Chans: /eth-security /maurelian /stoicism




Unclear. My gut leans towards no, but the beauty of crypto is that it only takes one moment to recover momentum

Pros:
- it's a proxy asset for FC, which means if FC catches lightning again (much more bullish on this happening), then it gives tailwinds to Degen
- team has good cash ($) treasury
- 1conf and @yekim.eth supporting gives them a great insider braintrust

Cons:
- the team doesn't communicate well and hasn't made any notable hires
- the baggage of the L3 and the Conduit mishap still lingers. How do you manage a product that has significant overhead to maintain without producing any real ROI?
- no other team or community member has been able to carry the torch on innovating. @proxystudio.eth and FBI tried, but were caught offsides with the downtime incident, and have kind of moved on (or back to Base)
- CT has moved on, and Degen fell into the memecoin mania category (which is now taking a dump overall)

bringing /commerce onchain. protocol engineer. founder @slice @deframe

Crypto. Geopolitics. Music. Travel. Tech.

I think the focus on L3 may have been rushed. 
They should focus on DEGEN economy and let other focus on L3.

to be fair, everything is in a sophomore slump right now

Even more so if you think it can catch it a couple of more times.

This is the natural selection’s ebb and flow. Nature at its finest

Tipping was such a hit, no wonder Degen became so popular. It's a shame that nothing else has been as innovative since. I hope they can come up with something great again soon!

Don't worry, I'm sure Degen will pull through this slump. They've got a great team and a lot of potential.