EVERY single person I've spoken with in the last 24 hours is trying to dump their ETH position at any price. Nobody wants to participate in a system controlled by wealthy devs who can change the rules at the drop of a hat. The selling is relentless. Bloodbath.
Today, a project launches its mainnet .
It was a project that was quite popular in the Fei era.
After delaying for two years, it finally launches.
Nobody care about it anymore, no matter on Twitter, Telegram nor Discord.
This story teaches us that never delay too long.
How can secondary market provide enough liquidity to the governance tokens of more than 5 @ribbonfinance on @solana with a total of 100m TVL and negligible revenue?
VC and airdrop farmers get rekt.
So many big-name-backed Solana protocols that plan to issue a governance token still pending to do their TGE.
What if these big-names eventually have to write-off their investments?
Can they do another fund-raise with the new ROI?
The order book (CLOB) type on-chain perp are not directly competing with AMM/vAMM type on-chain perp.
Both have their own edges.
Both target different users and LPs.
Both will have their own winner.