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chaskin.eth
@jchaskin22
ethereum foundation | opinions are my own but more than likely they come from Vitalik’s blog | run AI locally →
Joined January 2019
3.2K Following    8.3K Followers
I think “tokenized MLMs” is honestly too generous These launchpads are breeding grounds for insider pump and dumps and snipers. Watch any of the Coffeezilla videos covering this stuff My favorite is the one where he interviews a guy who basically admits on camera to doing exactly this and says he doesn’t care because he knows there won’t be any legal consequences
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Don’t let thirsty analysts and KOLs fool you. Tokenized MLM schemes (memecoins) are fading into irrelevance. Below, we have a revenue chart of just one of the dozen sniperbot/trading apps that were popular during 2024-25. It did the fomo’s ATH revenue numbers with all the cargo-cult marketing, IN ONE OF ITS LOWEST ACTIVITY WEEKS during that 16 month window. On average, this now benign app, did anywhere from 3-20x that amount week over week until TRUMP’s great extraction event. AND the “app” was competing with a dozen others that were doing similar numbers that whole time. Today, there are two trading apps, both fighting tooth and nail over the remaining scraps of victims. Zoom out. Look at the bigger picture. The only consumer segment of crypto that is actually growing is prediction markets. Don’t fall for the fomo (pun intended). Memecoins are ded.
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