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/

Tipping for sure. The chain it really depends on the direction it takes. I think I saw something about a treasury and voting which would push more towards governance and would be a disaster IMO

Will be interesting on having its own chain i dont think this detracts from meme value (DOGE) and tipping i think is accretive to meme value since meme coins are social tokens and tipping adds a positive sum element other meme coins dont have

degen hasn't been "just a memecoin" since you had to hold 10k to tip

what are some other examples you are thinking about?

yea utility being bearish is a constant across cycles

man i was thinking about the same thing. everyone's like "degen isn't a memecoin 😤", and i feel like that might limit its upside + introduce new execution risks

It's still in that ambiguous state where ppl can put whatever valuation they want on it. Memecoin? Done. Layer 3 / Blockchain? You're filled. Memetic Social Money? You're also good.

As with anything if you reduce the stories that can be told the audience also gets smaller

As long as the utility still ties to the principle of attention and community growth I think it’ll stay on a great trajectory. It has only been one quarter, some missteps will come.