According to ChainCatcher's message, Qiao Wang, the founder and core contributor of Alliance DAO, posted on platform X, stating that "a few years ago, I had already proposed that, contrary to intuition, the value of dApps lies in their front-end (web apps, browser extensions, mobile applications, etc.), rather than the underlying smart contracts.
The launch of pump's amm causing a 30% drop in Raydium is a clear example of this."
