@justinsuntron 😂 Thanks for the support, validation from someone who runs two competing exchanges. But we should try to reduce these types of "quote attacks" in the industry.
Bitcoin never paid any listing fees. Work on the project, not the exchange.
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These facts perfectly illustrate the speculative nature of Web3:
• Since January, @pumpdotfun has generated over $100M in revenue.
• @sunpumpmeme reached $4.5M in revenue less than a month post-launch.
• @Polymarket has seen more volume than all NFTs across all chains combined.
Meanwhile, @arbitrum, which controls 40% of L2 TVL, made just $2M in revenue in August.
People want to gamble; tech is sidelined.
Out of 4,335 protocols listed on @DefiLlama:
✦ 161 generate $100K+ in monthly fees (3.71%)
✦ 64 generate $1M+ in fees (1.45%)
✦ 17 generate $10M+ in fees (0.39%)
96.29% of protocols make less than $100K in monthly fees.
An average team of 10 employees, plus operational expenses, costs around $50K per month, not to mention additional marketing budgets.
The conclusion? 9 out of 10 teams rely on subsidies (VCs, token sales) and fail to balance expenses with revenue.
With the decrease in VC capital deployment, if sentiment doesn't shift to alts, many protocols will significantly scale back their efforts in the coming months.
A sobering reality.
@stacy_muur I believe that you are reading the events naively. Durov is a genius, do you really believe that he would fly to France, being French himself, just to be arrested?
The most likely scenario is that he is at risk and has made a deal with the French government.
@atamas@danheld I think you've made a mistake in your analysis. It's possible that France used the option of imprisonment to protect his life.
None of the nations you mentioned would dare kill Durov while in the custody of the French government.