Pump Fun (ulgy) Achievements

I'm frankly disturbed by what I'm seeing.

Pump fun kickstarted the era of memecoins first on Solana and led the entire web3 ecosystem on.

Is it for the good or for the worst?

Let me break down Pump fun (ulgy) achievements👇

No doubt Pump Fun made $100 million in revenue in just 6 months, this came at the expense of losers because as we all know its a zero-sum game.

While they they've enabled the creation of 2 million memecoins on Solana, this resulted in the fact that 99.99% of those memecoins launched have failed and its evident that they do because where do the gigantic liquidity come in to support those memecoins?

And since its a zero sum game and that that the 1% winners, probably takes all, the project founders/memecoin developers are the ones winning only while the other 99% of users have lost money.

If we want to mature this space and push it further it has to go beyond the mentality that people are taking on now, where they are praising this as "driving meaningful web3 adoption."

From what I see, this is far from adoption, likely exploitation from the project insiders and the few.

Pump Fun is essentially a casino that always wins, no matter which way memecoin prices swing. They're making bank while almost everyone else loses.

Sure, they've created a lot of activity on Solana, but it comes at the cost of users.

I get that crypto and web3 are still evolving, but if this is what success looks like, I think we've lost our way.

All in all, I am pretty confident this is one step closer we are taking towards mass adoption and a successful business (gambling) model that still validates the immaturity of many users out there.

There are many things I see we can take away from here. So build a strategy around these learnings.

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