I was discussing with a friend about the leadership we have on our favourite chains. @base is an EVM chain and there's nothing you can't cook on it. On the other hand, @solana is a meme chain with various limitations on what you can do there and what the community finds acceptable.
If you look at the leadership though, on one side you have @toly promoting utilities on a chain that is more meme-friendly. On the other side, it is @jessepollak deploying memes on a chain that can do so much more. Base has the technology to build and the community looking forward to innovation.
It almost feel like they have their roles reversed and I wonder what @toly could do if he was in Jesse's place.
#MidnightShowerThoughts #Solana #Base
So, @RaydiumProtocol was supposed to be the good guy and they're filling the market with as many @pumpdotfun clones as possible.
The market doesn't need all these clones. They will be dead in a week. No one talks about LaunchLab anymore. @bonkfun is slowly fading away. Now, @boopdotfun is forcing KOLs to launch to claim their airdrop. That will also fade away in a week. I think it's a way to get back at @a1lon9 for moving away from Raydium with @pumpfunamm ๐ซค
Creativity doesn't come easy. Without creativity, things will die off.
@toly and @rajgokal don't realise it right now, but these things are taking away liquidity from the space. The average investor isn't winning and soon they will leave Solana. Sometimes it is better to allow the growth to come in organically, for people to stand behind tokens which don't have insiders dumping on everyone.
Solana used to be the land of the free, now it is the land of insiders. I don't know in which direction it goes. If someone knows, do tell me. My @phantom wallet says that it now supports SUI, so I might start moving in that direction, if I see any more clones popping up.
I see something novel being built here. Once you hear it out, it seems obvious. This DAO looks at the holdings of their holders and uses the Wisdom of Crowds to get a list of investments.
If Degens believe, they hold. That is where this DAO looks. Doesn't it sound obvious now? $DGF
Base is coming up well and it can be the new home for tokens with proper utility who want to utilize OG ETH holders. Base doesn't need to be Solana. EVM is smarter, with the right tokenomics to support long-term projects. These abundant platforms have just led to short-term tokens that encourage more tokens and soft farms. Every chain has a USP which needs to be perfected, and Base is well-positioned to be the new place for ETH utilities. Faster, cheaper, fresher.
we want our wider community to be able to test our platform as soon as possible and maximize the feedback received, so we've decided to make the requirements to access our Alpha Testing Phase lower
we're taking a snapshot to gather all the wallets holding at least 15K $AIM !
to mark the launch of the alpha version of our platform and guide you through its features, we're also holding an AMA on Monday, March 17th at 6PM UTC
this is just the beginning๐งญ
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A part of me is kind-of happy to see PumpFun move in this direction so they can start losing relevance. @pumpdotfun has prioritized profits over everything else for some time now.
The important point mentioned here is that they've moved their fees away from the chain, whereas protocols like Raydium use their fees for buybacks. This involves selling SOL and moving it off-chain. Some people estimate is to be above $500M and that is funds out of circulation.
I hope other protocols can use this opportunity to gain a cut in the market share so they have the opportunity to show what they can create.
As for their AMM becoming a success, I don't think it has a shot in front of @RaydiumProtocol which is heavily battle-tested and reserves a major share of SOL on-chain volume w and w/o PumpFun, before and after Pumpfun.
Raydium v4 AMM has been critical to PumpFun's success and I believe they will not be able to succeed without it. I have talked to countless Teams over the past two years and whoever has chosen anything else apart from Raydium v4 has seen a noticeable difference, citing things like lacking the 'bullrun' volume.
PumpFun should completely move to their own AMM and the market should start noticing better products very soon.
#PumpFunAMM #Raydium