0xen 🎩
@0xen
The Zerion piece published today was a good read for folks interested in $degen lore but we should stop calling the largest L3 by market cap, TVL and volume a 'memecoin'
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Matt Lee
@mattlee
The fact that it’s both a meme coin and an l3 token is why I haven’t sold. If it was just one of them I’d take profits.
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artlu is on lunchbreak!
@artlu
100% agree that $degen is a memecoin, a scene coin, a utilitycoin, and has an L3. Price + flows may be dominated by memecoin winds, though. My views: - profit-taking is risk management - market doesn't care about ur PnL - scene coin + utility + L3 provide a valuation floor, reduce risk of going to zero NFA DYOR
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artlu is on lunchbreak!
@artlu
if $degen is worth a nickel, my rough breakdown: - 0.02 scenecoin collective value for /degen community, incl. /perl, /drakula, /bracket - 0.02 memecoin attention value for Warpcast fund-raise - 0.0075 L3 - 0.0025 utility/visibility for Farcaster tipping economy Healthy IMO! Eager to hear ur views @mattlee + anons!
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Matt Lee
@mattlee
Thanks for sharing this. I agree in terms of logical value, but there are meme coins in the top 100, and there are gas tokens for chains with less usage in the top 100, and DEGEN being both means massive potential upside. Potential is the key word though.
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Matt Lee
@mattlee
Not even to mention the Farcaster proxy investment part, but I don't think that narrative will hold up well as other tokens begin to get used for tips
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