🎈 Memecoin Rush Tracker Been a while since i've updated this, but as Phase 1 ends tomorrow figured i'd do an update. Vast majority of users are enjoying staking and equally, we continue to see a sustained net uptick in stakers, despite not adding new pools. Pretty solid milestone also breached: Cumulative Wallet Count >10,000. All in all, i'm happy with how that has panned out. Have seen a few recent takes however, as memecoin prices have trended down in the recent week(s) and naturally people want to vent. I've gone through so many cycles of this as well so its all too familiar...I have fortitude, i have faith (remember). ___________________ Some thoughts from me on Memecoin Rush 1. Staking adds a new use case for meme coins, especially with non-dilutive rewards. It's something extra 'to do' in DeFi, it has been great for onboarding folks to #Avalanche and more importantly, into DeFi...Although i'd love to see it scale up. 2. Staking is one of many levers that the Foundation is pulling. It's not the singular lever being pulled. Some folks seem to view just staking as the only part of the Memecoin Rush. 3. Staking acts as a passive mechanism, it takes tokens out of active circulation, reducing velocity which should be a bullish thing. 4. Memecoin Rush DOES have rewards on the active side (not just passive). There are ample rewards on MMing and also for passive yield farming via Yield Yak. Foundation is injecting liquidity in multiple areas. 5. Folks commenting with negative takes are taking an exclusively micro view. Few, if any, are analysing at a macro level. If a chain narrative gains significant traction elsewhere, it will drain from all ecosystems which can sap momentum. 6. I am personally advocating for transparency in the staking program, so timelines, reward allocations etc. It should be clear to help folks make decisions moving forward around yield opportunities. 7. I've had many discussions with various stakeholders, everyone is loving what the Avalanche Foundation is doing taking a genuine front-facing role and showcasing support in many areas. It's been a huge help to foster greater community camaraderie. 8. Something that spurs activity is the introduction of new tokens. I track new pairs almost daily, and there has been a big decline over the last few weeks in this area. While new tokens can seem to sap strength from existing ones, they do actually create rotations of users/liq entering and then existing, lifting all organic metrics. Wen new tokens? 9. Lastly, if I've learned one thing over the years, it’s that everything is cyclical. As long as we collectively continue to pull the right levers, the cycle will eventually come back around. What has been evident in recent months is the vibes, they are great and everyone is generally aligned and amicable with each other. So let's f***ing fly this red triangle flag. Also, $COQ has now shot past 70k holders.
@blueclarityone You have fortitude? But do you have... FortFi-tude?
@blueclarityone Well said. I know the #BigRed $Td community was pumped to be apart of #MemeCoinRush and looks forward to Phase 2.
@blueclarityone Can't wait to see $Bruh there. The joy of bringing new people to Avax and showing meme coin staking is beeg
@blueclarityone @that_techieboy Well said my friend!