crypto

TIL there are 10K memecoins launched on Solana *every day*.

Working on Farcaster and Warpcast. Longer thoughts at https://dwr.email

And about 9,998 are rugged by Sahil on day 5

23k memecoins were launched in the last 24h on pump dot fun

23k memecoins were launched in the last 24h on pump dot fun 
https://dune.com/adam_tehc/pumpfun

Low transaction fees.

Low friction

Heaps of scams…

Serial launch teams.

and needles in the haystacks.

Eh. Thats a lot. Bot meme coin launchers? Are the bots playing a numbers game?

https://media.tenor.com/8CPvdgIHcZ4AAAAC/rookie-numbers

However 9k all have the same derivative names as "Hot" coins...

So you really only have to sift through 1k SOL Memecoins...

I’m not sure I shed that many skin cells every day.

Sounds like a waste of energy / block space

casino gambler mindset of solana users is a paradise for scammers.. 
builder mindset of ethereum users is a paradise for builders..
they know their audience and their audience does not know so much 😅

I watched pump.fun in its hay day and I believe it (turn on animations to get a taste)

Memecoin accelerationism. 

Murad was right.

Artificial Intelligence (AI)

Terminal of Truth, a jail-free AI agent did NOT create $GOAT memecoin crypto X is crazy about 

It is also not true, that ToT used $50K invested by Andreessen Horowitz (a16z) and turned it into a $150m market cap crypto

below is the exact moment $GOAT was created on Oct 10

as you can see ToT, a religion-obsessed AI, is talking about "Goatseus Maximus" which will be "manifested into existence", but the coin itself was created on SOL by a separate anonymous human X account

then ToT's human creator Andy Ayrey and crypto degens started investing in coin and baited ToT into shilling it on Discord and X, also spreading the Horowitz legend (it looks like the Horowitz grant has nothing to do with the $GOAT creation and valuation, except for that legend)

so again: $GOAT is the first incredibly successful AI-inspired and AI-shilled crypto, but not the first AI-created crypto

more details: https://finance.yahoo.com/news/crypto-degens-baited-experimental-ai-151703512.html

and still, not a single one was AI-created

and still, not a single one was AI-created

https://warpcast.com/assayer/0xecc63cb0

and the platform revenue https://www.theblock.co/data/decentralized-finance/dex-non-custodial/pump-fun-revenue-daily

Evidently phantom roulette is the only true delta neutral hedge. 🎰