interesting take by @balajis.eth, would love to see more of these discussions here instead of on X tho

A memecoin is a zero-sum* lottery.

There is no wealth creation. Every buy order is simply matched by a sell order. And after an initial spike, the price eventually crashes and the last buyers lose everything.

* It’s actually negative sum if the platform takes a cut.

Balaji

interesting take by @balajis.eth, would love to see more of these discussions here instead of on X tho

https://x.com/balajis/status/1880981113721819539?t=-mFgDh3cb6PvgW9IrtKvbg&s=19

React Native Developer. Experimenting with consumer apps, building /super mobile.

"every buy order is matched by a sell order"

always refreshing to see top industry leaders fundamentally misunderstanding how an amm works

Full-stack digital product consultant @ BoundCorp.net - eng @daylight

your comment conveniently ignores that cex volume is 10 times bigger than dex, so while you're technically correct the majority of trades happen as balaji described it