pumpfun and bonk going band for band is the most bullish thing that could ever happen to the trenches, we are now in the stage where PVE scenarios will appear out of no where and multiple 100M+ runners will become the norm again
why? because for these giant money printing operations, community and the customer (we) matter the most, they need our volume and mindshare more than anything, and it will only create incentives to improve the experience for the end user
$1-$2 million worth of buying pressure can always attract eyes and create waves in the trenches, mere pennies for these giants in terms of how much they can make from fees + mindshare generation
our job is to provide feedback transparently and capitalise on the opportunities ahead, new narratives will emerge and weโll have a chance to ride along the waves of these VC twap bids on certain runners
abundant times ahead, something we deserve as consumers of their products.
i've noticed a growing trend where people are sending me supply of their tokens
people do this for different reasons, but iโm assuming itโs mainly for marketing purposes
and honestly i donโt mind if that gives their token more exposure, as i genuinely want every coin on BonkFun to win!
but this trend has accelerated so fast lately that itโs becoming a nightmare
my wallet is now so clogged with tokens that it's hard to even navigate
and then today someone did something creatively dangerous:
they launched a token called 'Bonk Level Savior' and sent me 98.37% of the supply
the token rocketed to $300m+ market cap within minutes of launch, meaning my wallet was now holding $300m+ of their tokens (albeit on thin liquidity)
i think itโs a genius marketing move ngl... but also scary and dange I'mous at the same time
genius because i canโt just ignore that much sitting in my wallet, and iโm now forced to respond somehow
scary because if this gets encouraged, hundreds or even thousands of tokens might start doing the same and my wallet becomes a warzone
scary because it also goes against everything crypto and decentralization should stand for
marketing gimmick or not, burn your tokens if you want to!
doesnโt matter if itโs Vitalik, @cz_binance, or bonk guy... sending that much to one person is just setting things up for a rug โ maybe not even intentionally, but just from the sheer number of things that could go wrong
just to be clear, i would NEVER sell or dump the token... that thought never even crossed my mind once
i wouldnโt sell my morals for any amount of money
and iโm genuinely humbled that people still bought and pumped the token to $400m+ FDV even with 98% sitting in my wallet โ that trust means everything and i donโt take it for granted
that said:
1. i need to discourage this practice
2. i need to make sure whatever i do doesnโt cause a negative liquidity suck in the BonkFun eco
3. and i need to do it in a way that minimizes impact to people who gambled on the token expecting some kind of reaction from me
i'm basically stuck between a rock and a hard place here
so after thinking it through, hereโs what i decided to do:
1. burn 98.3% of the token: this removes the centralization risk and takes me out of the picture
2. swap the leftover 0.07% into USELESS (the strongest token on BonkFun and the core driver of the recent run) โ then burn the USELESS i purchased with it!
this way i benefit zero from the whole thing โ nothing at all!
i'm doing it this way so my response causes the least amount of damage possible, and also to make it super clear that i care about the health of the BonkFun eco more than any cabal games
and i think using a small portion of the token to market buy the leading token on the platform makes that message loud and clear
iโve said it before, i genuinely believe USELESS is a multi-billion dollar token... and this just reinforces that view while hopefully making people think twice before sending me this much supply again
iโm seeing a bunch of strong narratives on BonkFun right now with $100m+ to $1b+ potential. hopefully people pay more attention to them or launch more viral stuff going forward!
i saw some posts earlier today about the โbonk level saviorโ tweet Pumpfun posted ages ago, and i get how a narrative like that might feel relevant today especially with BonkFun flipping Pumpfun etc
so i really do hope the token does well. they launched on BonkFun after all!
but i also hope not to be part of any cabal games ๐
and i really hope people stop sending me tokens ๐ฑ