Legion x Kraken 첫번째 세일: @yieldbasis ($YB)
On the flagship ICO platform Legion, we will collaborate with Kraken to conduct the first sale, YieldBasis.
YieldBasis is a Bitcoin monetization project conducted by Curve Founder Michael Egorov, a Stable Depi originator.
GL HF
🎒 BackPack S2 starts on July 3
It's official: the new farming season at @backpack is starting soon. It's the perfect chance to join if you missed the first one!
✅ Register: https://t.co/1f5fkQXwXy
✅ Complete KYC
✅ Deposit SOL/USDC
✅ Get ready to farm from Day 1
Can someone explain to me how memecoins are anything other than gambling?
The epitome of Financial Nihilism.
I see cope about memes creating a "PvE" environment; but I'd urge anyone who's stating this to explain how this will ever play out.
Every buyer is putting money in with the intention of taking more money out down the line.
If not, then there's a traditional corporate entity set up for this already; it's called a "Charity".
Here's the issue with memecoins... there's no fundamental value creation for everyone to "win".
No coin will go up only (honeypots excluded) and even if it did, why are holders not selling? What other non-monetary value are they receiving for holding?
There has to be a product or service with real revenues for the initial capital injection to grow. Otherwise this is a Ponzi - new buyers being dumped on by earlier buyers.
If memecoins are considered "collectibles" then congratulations, you've completed the set and paid the market price.
Perhaps the coin is the "product"; a ticket to the thrill ride with the chance of a lottery win.
But those who have become the collector, or paid for the theme park ticket, are unhappy customers.
Why?
Eventually someone will become a "bag holder", "community member", "exit liquidity" or whatever you want to call it.
Turns out these things aren't worth the entry fee.
Yes, you can raise capital from launching a token using a "fair launch" method, but current information asymmetry suggests this ain't the case anymore.
High FDV, low float VC coins meant much of the value was captured in the private markets, which drove the "fair launch" revolution.
This has now been swapped out for sophisticated, informed parties committing on chain obliteration against your typical retail who've been sold a "fair launch" ideology.
The sooner we get back to fundamental value creation, with products that consumers actually get value from, and are willing to pay for, the better.
It's clear that this either needs more regulation, or better systems, processes, controls in place to enable an actual "fair launch" with clarity over what the "product" is so the playing field is levelled somewhat.
Otherwise, 99% of participants will leave with a sour taste once again.