I’m super curious to watch $DEGEN evolve. I have a loose thesis that becoming a utility / governance token might actually be bad vs. embracing pure memecoin status

Contributor to crypto, building Based Management, co-founder of PoolTogether Inc, instigator of pleasrDAO

https://leighton.mirror.xyz/

yea utility being bearish is a constant across cycles

what are some other examples you are thinking about?

pfp collections is a good example for sure. Getting a fanny pack from Moon Birds just makes the whole thing feel dumb vs. getting nothing. I think on the DeFi token side it's less clear

a bunch of pfp collections that added "utility"
a bunch of defi protocols with tokens that introduced tokenomics

almost bedtime and i'm struggling with specific examples unfortunately