Joined May 2023
- Tweets 162
- Following 27
- Followers 1,127
- Likes 341
26 Photos and videos
I wasn’t supposed to share this.
But after months of discussions, the Agarthan delegation finally approved Bread.
Their feedback was surprisingly simple:
“Stop building economies where leaving is the optimal strategy.”
So we did.
See you next week.
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Jun 3
The chart is not the market.
The chart is what the market left behind after the real decisions were already made.
By the time you see the spike, the holder structure is set. The extraction happened.
The narrative is whoever survived it.
You're not reading the market.
You're reading its exhaust.
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May 30
Everyone optimizes the token.
Nobody optimizes the market that forms around it.
The holder structure in the first 3 minutes decides more than the roadmap ever will.
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May 28
Memecoins aren't a problem.
Bad market structure is.
The attention is real. The virality is real.
The community formation is real.
But when the launch layer is broken, all of that gets converted into exit liquidity before it can become anything else.
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May 26
A note I keep coming back to:
The goal isn't to remove speculation from memecoins.
Speculation is the energy. It's why this market exists.
The goal is to make sure the first seconds don't belong only to the most extractive infrastructure.
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May 26
There's a difference between an open market and a market without structure.
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May 23
When a single wallet can take too much of the early supply too fast, the launch isn't really a market.
It's a distribution accident.
The holder structure forms in the first minutes.
If it forms poorly, everything downstream inherits the problem: liquidity, narrative, community, and the secondary market.
The early market deserves to be designed, not assumed.
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May 23
By the time you see it on the chart, it has been decided in the first 30 seconds.
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May 22
A token launch isn't a button.
It's a sequence of decisions:
· Who gets access
· How much they can buy
· When they can sell
· How liquidity forms
· What incentives exist before migration
Each of these shapes the market that follows.
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May 19
Watching the markets this week.
Same pattern over and over: launch, peak in minutes, holders gone before the chart finishes its first hour.
Nobody talks about how much value is destroyed before the project even gets a chance to exist.
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May 16
Watching the Swatch x AP launch.
Queues for a week. Stores closing. Resale at multiples of retail before doors opened.
The holder structure was already decided before anyone got to buy one.
Same problem I keep thinking about in tokens. Just on wrists this time.
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May 16
Meanwhile, Dubai Mall.
Physical or on-chain, when the launch layer isn't designed, the first minute always goes to whoever can extract fastest.
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May 14
The first wave of launchpads solved one problem: making token creation instant.
That mattered. It opened a new market.
But it left another untouched. What kind of market forms in the first minutes after a token exists?
Creating a token is easy. Forming a market is hard.
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