did not expect FOMO to be on top of the $HYPE builders leaderboard for volume that's surprising although 75% of the volume is by their top 10 users and only one of them is in decent profit remove these 10 and not much activity data from https://t.co/5uG3xM9UyN https://t.co/VAe8vEmuMP
so ppl are playing a game because the game is fun and they start spending in the game to have more fun, the economy grows as more fun is had vs ppl are playing a game to make money which brings more ppl in to make money which saturates the market and nobody is making money then everybody quits
hm been thinkin about what to build next for past few days think done thinking about launchpads and memes it's just not that interesting maybe some form of onchain game been thinking about onchain PVP games with all the web based classics that AI twitter has been going off about tokenizing games with PVP as opposed to Play-2-Earn metas of the past makes much more sense but games are a lot of work to start from scratch 🤔
in theory you would think something like hook extensions will have PMF by now /w ppl sick of the status quo but the reality of $SOL and its shitter economy is that bundling and fake volume is a feature not a bug everybody knows it's happening but it's the only way for 99% of the shitters to have any kind of volume/activity that brings in ppl to bid on the tail ends and become exit liquidity if you remove this activity and it was purely organic, most of the activity you see wouldn't exist then the casino would not be very exciting for anyone to play
personally not that bullish on a token built around hook extensions platform say one of these meteora hooks platforms takes off $PUMP can just create hooks native to their platform overnight on top of their pools so there's really not much upside in the long run besides change needs to happen at the pool level first the main issue with the shitter economy is preserving liquidity and this can only be improved at the pool level you need to fix the foundation first that's where the innovation needs to take place like in the past except ideas of the past were just too simple and plain
meanwhile in "real coins" land many coins looking good the usual strong coins catching bids first as usual even the $LIT exodus is over and already recovering i dont think you will see any inflow to shitters unless alts continue to bounce back and then $BTC and $ETH run out of this range afterwards one could say this is an opportunity to bid shit as well
the key issues that need to be solved to produce a better memecoin ecosystem that doesn't end up with thousands of dead memecoins and pools with dead liquidity trapped in them 1. the concept of "bundling" and "sniping" has to be fully eliminated to the point that it is nonexistent while preserving the "being early" aspect that traders are chasing 2. rake needs to be redistributed to those who are on the tail end of the action, the losers who contribute to the PNLs of those who win, you need to protect the fish and keep them in action 3. liquidity needs to be more efficient and can't end up simply being dead pools that get arbitraged and create nothing more than spam on the blockchain a platform that introduces solutions to the above three will dramatically improve things for both winners and losers while eliminating the biggest leak that dries up the pond those playing extremely extractive because there are simply no rules and what would've been considered crime in the past is now considered skill today but is there any point to solving these things? what is the point if nobody cares that they are getting butchered like pigs and all those who stand to benefit indirectly softly promote and turn a blind eye to everything as it serves their agendas i wonder what is the point in even sharing these thoughts tbh waste of my time and those who read them
have many interesting ideas for what a platform that could address most of the issues ive outlined would look like fresh mechanics that would change the game for the better but it would be months of work along with a lot of costs to pull off and it would also have to be built on $SOL for as much as I dislike this chain for its antics and culture, the tech is frankly miles ahead of everything else in this space so very little motivation to invest the time and resources to attempt such a thing maybe ill just write about it and it can inspire others to build it instead
after one week of farming the next big thing in perps haven't looked closely yet but quite certain the execution for crypto derivatives are much worse than other venues and well considering that all the positions are being hedged across the other venues... this shouldn't be that surprising 😂 im not sure the points rebate will make up for the poor execution, really depends on if they end up being worth $5 a point or $50 a point
