from what we know rn, it is a "memecoin" with absolutely no utility launched by a venture backed company

my hope is that they drive utility back to this "memecoin," or allow it to accrue value in some meaningful way, but the current framing doesn't leave me very hopeful

Fwiw, they're launching the same type of token that users of their protocol are launching, so there's some alignment between what they're doing and what they're telling others to do

That feels good to me

Also, if they add utility to a memecoin it's no longer a memecoin, so I wouldn't expect them to do much there