Ignas | DeFi on Warpcast

Ignas | DeFi pfp

Memecoin mania legacy is ugly. Crypto bubbles is 95% gambling and wasting resources, but the remaining 5% fuels innovation. • Most ICO tokens died but Chainlink, Filecoin, Brave browser survived • DeFi summer yield farming ponzis gave us Aave, Compound, Yearn Finance, Uniswap, etc. Memecoins? Mostly value extraction with little real innovation added. Think pumpdotfun taking money out of the crypto system - a net negative. Still, they stress-tested Solana and exposed low-float, high FDV token flaws. DEXs now rival CEXs in volume and lead in price discovery. CEXs serve mainly for exit liquidity. Memecoins could teach us about fairer token launches, but cabal pump-and-dumps damaged their reputation. Most won't remember the memecoin mania fondly. Like during the ICO and DeFi bubbles, many got wiped out. But at least those eras brought lasting innovations. Memecoins, though, will leave a modest legacy.

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androidsixteen pfp

@androidsixteen.eth

Every successive mania in the Frenzy phase installed less infra than the prior one Bitcoin (technically irruption) > Ethereum > ICOs / Solana > DeFi > ??? Suggests we're close to the turning point and going to move into the consumer era

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Leo pfp

Better than fiat, where 97% of dollars are used for forex trading!

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Kamil Z | Polygon 🟣 pfp

Kamil Z | Polygon 🟣

Although the trenches are a fun place to be and learn from... The reality is that most people are down bad from Memecoin trading. You only see the success stories that ppl share on social media. Without having insider info or being first to the news, you have to get lucky with some of these launches. I agree with you, I hope the memecoins slow down so we see some of that liquidity flowing back into different areas of crypto.

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Europe Capital pfp

Likely true. Listened to the Luca Netz interview on Bankless recently and I was very impressed by the systems he has in place to generate brand equity for PP.

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