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bad take?
fc was bootstrapped by base (namely cb & ex-cb folks), op ppl & a subset of early adopters, predominantly native onchain builders who were interested in the tech
it experienced its first big onboarding event at the interjection of base improvements & increased adoption, the introduction of frames & the rise of $degen
those who got in on degen early, made a bunch of money & stayed, but are now exhausted by bad g(dau)
those who were interested in frames, were likely the same folks who were early fc adopters & thus had little impact on daus
those who were interested in base, were likely interested in profits & so either:
-churned when base memes starting popping up on x & engagement/liquidity flatlined on fc
-got burned on a newer fc meme & churned
-or, stuck around to end up in $higher & others, like $ham/gaias—tho these projects are now looking at channel & chain alternatives as well
so as ai interest churns, fc increasingly needs base & higher, but they become less dependent on fc 3 replies
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