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.

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

"every buy order is matched by a sell order"

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

This is why this is on X and will likely remain on X.
Gotta play a different game