xRev↗︎

@xrev

1226 Following

293 Followers

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I got my Moxie Pass! Mint yours to be eligible for upcoming airdrops, grants, Fan Tokens and more! cc @betashop.eth @airstack

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10 Moxie Passes available — mint yours to be eligible for upcoming airdrops, grants, Fan Tokens, and more! cc @betashop.eth @airstack

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Thanks to my top supporters in the current DEGEN season! @wu-tang @simplytofu @dvndraw.eth Frame by @compez.eth

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Refining datasets is usually how I like to look at this things. Even if there's a narrative that can fit the chart there's nothing better than filtering the data to understand exactly whats going on. Since this one isn't easy to understand I'm sharing my current findings. 1) There's nearly 5.7k fids producing more than 1million reactions every day in May (but way less before and after); 2) Filtering those fids out, things look way more organic (somehow following the cast trend). 3) I would guess many of them are bots since they don't have a power badge, they have very few reactions and replies from power badge users, many of them don't have verified wallets and so on. Nonetheless some of them may be real users. I will try to filter those 5.7k fids even more but currently I can't do better.

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Looks like some people have issues with L2s FDV. Just because some L2s are around 10b FDV or whatever it doesn't mean they will stay there and it doesn't mean every other L2 will get close. Currently L2s are fighting for the same population, I repeat... the same, and very few of them (besides Base) will onboard new users. This should be obviously bearish for nearly all L2s, their tokens/dapps and so on (there's nothing bullish about more L2s if the demand doesn't exist). That said, the key factor for success there is organic and sustainable/continuous demand (just like we see on Ethereum), nothing else.

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I started exploring some Farcaster and Degen data and I have to share this interesting patterns on degen... - reactions mirror the market way more than casts (looking for local tops) - casts can work like a lagging indicator (same way moving averages work) From a trend perspective, this means we should see reactions moving first than casts (up or down). That said, for now market players shouldn't expect any reversal but it looks like a good range for accumulation (if interest doesn't push lower than it already did). https://dune.com/degentokenbase/degentokenbase

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Based Merch Shop sharing profits with creators... @nantucket looks like it's something for /verb 🥳

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If it's not clear enough, DAOs are conceptually great but they will never work. I mean they work for some (few) but they aren't DAOs anymore. There's nothing decentralized enough in DAOs. Using smart contracts for voting and even for implementation doesn't make it decentralized. At best it's automation managed by few powerful groups/entities.

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I do believe many projects are ignoring the fact that the farming industry is taking over (since 2021 it's exponentially increasing). It's a different kind of MEV nonetheless those farms will extract as much as possible. Meanwhile many potential users will just not use those projects, chains, whatever, because it's every day more obvious they like and reward the service provided by farms and real users have different goals and values.

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2m weekly active wallets 👏 👏 https://dune.com/watermeloncrypto/base

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Indeed. Just because we don't have billions of daily onchain active users it doesn't mean we didn't reach "mass adoption". What we really need is to onboard more usecases and make it more affordable and easier to use. More organic adoption means real and interest usecases without paying $0.1-$1 in transaction fees.

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Something nearly everyone ignores is that all the L2 chain tokens, all the Eth meme coins and many more tokens will keep bleeding against ETH. They can obviously pump, they can do well for a while but sooner than later we will convert profits and losses into what we believe and trust more => ETH

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ZKsync airdrop is showing us what some of the L2s think about real users, for instance: 'Real people, on the other hand, tend to concentrate most of their wealth in just a few accounts, making their balances much larger compared to bots.' While this isn't exactly incorrect (with new users) it's also a very naive way to look at users. Sophisticated crypto users know very well all the risks + lack of privacy in crypto and quite often they use multiple wallets to experiment with different chains/projects.

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Week isn't over yet but we can say base reached a new Weekly Active Users (wallets) ATH. More than 1.5m wallets used base this week. https://dune.com/watermeloncrypto/base

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By EOY we will have more than 100x L2s/L3s and many of them with less than 100m TVL. How many of them will you still use on a regular basis (every week or so)? https://l2beat.com/scaling/tvl

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I don't cast much but I'm only 438 casts away from 500 🤣 437 after this one 💪 💪 Frame by @tom-major

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Can anyone explain why L2s keep releasing their tokens like it's rocket science instead of capturing and retaining users? It's time to move on and be creative or not?

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It's now obvious we will see an insane explosion of L2s this cycle... my only advice is to stay away from most of them. Don't even waste time bridging funds. If you really want to degen then explore and enjoy base projects (meme coins, games, defi, sofi, whatever) because it's where you will find real users.

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I like how @layer3xyz keeps experimenting new stuff, not sure if this kind of races can exist in a sustainable form (without scripts/bots ruining it) but it's fun.

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How much have you saved on Base? Looks like I already saved 1.2eth in tx costs and I'm far from 1k transactions on this new wallet - Frame by @apex777

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