The token isn’t equity. The profit multiple doesn’t mean anything. They let VCs buy millions in the ICO fully unlocked on tge. They promised an airdrop that never happened. For the record I don’t think there should be one. The issue was promising it. And the token doesn’t do anything. There’s no reason to own it other than pump buys it back. You can’t stake it and get reduced fees. The token isn’t used in the LPs.
Not trying to be a dick but these are the challenges the pump token faces. It has no reason to exist.
Mike Dudas
@mdudas
I understand all the bear arguments / concerns, but at some point people are going to find 4x profit an attractive multiple, or @Pumpfun will simply buy back all the tokens.
I am extremely in favor of adding product related utility to the token in addition to the buybacks. Respect the perspective 🫡
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Disclaimer: The content above is only the author's opinion which does not represent any position of Followin, and is not intended as, and shall not be understood or construed as, investment advice from Followin.
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