Leo
@leohenkels
The Pump ICO might be extractive, but it really puts into perspective how bad Zora was. Pump at least has revenue to support the raise. Zora was clearly to dump on retail, whereas Pump might have a chance based on their fundamentals. I’m buying some as I believe I have a chance to make a 2x or 5x here.
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fhn_gt
@9r1n6c0r3
do you think there is any alpha in your reasoning? let me explain, you agree to buy an asset valued at $4b which has most likely already reached historical peaks in its metrics, yes, maybe there is room for a couple of Xs at max but at the same time you fade an asset (most hated one between all base eco) valued at about $25m with cracked devs, interesting token mechanics and support from basically every coinbase cabal member did i get it right?
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Leo
@leohenkels
Yup. One has pmf the other does not.
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fhn_gt
@9r1n6c0r3
yet. I still think that Zora is the closest competitor to Pumpfun. If product has achieved its pmf, then almost everything is probably already priced in, now imagine if suddenly people will be able to stream on Zora (possibly), or Zora will be integrated into the coinbase wallet (very likely, according to unconfirmed sources and some hints). And yea i think that pumpfun is a buy at 4-5b$ fdv range, personally bidding both
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Leo
@leohenkels
No it’s not. Believe does way more volume than Zora. Remember I’m not arguing about the validity of a project, just the value accrual mechanism of a token. As such, I have a ton of money in Clanker because it has proper fundamentals and was a fair launch. That token will succeed before Zora’s.
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fhn_gt
@9r1n6c0r3
yea i've meant closest competitor on base, clanker is a good and safe hold i agree, but most things are also already priced in considering clanker is at 40m marketcap, its a current leader between all launchpads/token-launchers on base. For now https://dune.com/clanker_protection_team/clanker-vs-others
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Leo
@leohenkels
No token overhang too. Zora has unlocks that will push price lower. Again, Clanker has no VC funding to my knowledge. So all of its value accrues to the token whereas that is absolutely not the case with Zora.
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Ika
@ikahq
there was 0 value accrual to clanker so far tho no buyback, no particular flywheel
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Leo
@leohenkels
For sure, but more possible than Zora. Clanker has a massive treasury to my knowledge.
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Ika
@ikahq
yeah but they sleeping too much compared to the competition imo
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