Leighton
@lay2000lbs
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
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MJC
@mjc716
yea utility being bearish is a constant across cycles
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Leighton
@lay2000lbs
what are some other examples you are thinking about?
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MJC
@mjc716
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
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Leighton
@lay2000lbs
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
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Vova 🎩
@vova
maybe utility and governance features encourage calculations and questioning "what's the value of staking to vote if there is no yield?" "is access to 'events' worth this much ETH?" as opposed to just pure excitement of numba go up
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