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basil
@itsbasil
degenchain already has more than $60m locked and 1,600 coins listed on mint.club it's very easy to get lost in this chaos; my best advice to you is to keep it simple and don't go crazy chasing. we are still verrrrry early i already need to bridge more degen :) as i just bought my second coin /dusd (nfa)
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Robotandkid
@robotandkid
So you're saying there's downward price pressure on $degen (that $60 m that was converted to other coins) But this will likely attract new money so it may even out
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basil
@itsbasil
not necessarily; it means that $60m degen has left base l2, bridged to the l3 degen chain, and has been locked up so if anything, it's bullish for degen on base as $60m of the circulating supply has left the l2 (or i could just be really dumb)
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Robotandkid
@robotandkid
right... it left the base L2 where it was swapped for coins on L3. but technically in the future you should be able to bridge those coins from the L3 w/o swapping back to $DEGEN. But yes, right now I don't think that's the case.
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Gus 🎩
@gusxbt
There is no stable coins there so I don’t think what you are saying makes any sense. If people on the L3 swap for another coin, the degen moves from their wallet to the dex pool or bonding curve.
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Robotandkid
@robotandkid
yea i think you're right was reading something that basically implied that once DEGEN moves to the L3, selling inside the L3 doesn't apply downward sale pressure on the L2... or something like that.
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