Chris

robinhood chain worked because it gave crypto something it desperately needed: a new casino. the reason is pretty simple, but it’s a confluence of multiple factors happening at once. first and foremost, the design space has changed. tokenized assets, RWAs, whatever you want to call them, being natively issued onchain are still in their infancy. robinhood chain owns that play right now. but more importantly, every cycle needs a new casino game. one where the rules aren’t established and nobody has figured it out yet. that’s where edge comes from. as more games are played at the casino by more players, that edge erodes. strategies emerge, experts emerge, and eventually you get a profitable power law where the same few people win over and over again. that’s what happened with pumpfun. it’s been happening for 18+ months now. i made a video about this ages ago, you can probably find it on youtube. when edge gets eroded to the same 50 people stealing money from each other, the game stops being fun. people go looking for somewhere there are no experts yet. the new game needs to feel familiar enough to understand, but have new dynamics that make it a free for all. that’s what has happened here. pons, long xyz, tokenized assets and novel defi primitives are nerd sniping even the most degenerate onchain traders. the plumbers and trenchers are one on robinhood. a mixture of old and new. no yield farming. no points programmes. the only incentive is speculation. and it is the best incentive there is. i don’t know what this means for new ecosystems because people have tried everything. build it and they will come. curated ecosystems. building their own apps. but the one common denominator is as old as time itself: make your users rich and they will stick around. this isn’t new. it happened on ethereum, then BSC, then avalanche, then arbitrum. everything died for a bit, then solana ignited the 23-25 cycle. now we are here. another thing happening at the same time is that the ideas guys can actually ship now. we’re seeing ICM play out at rapid scale, where developers, actual developers, not someone launching coins on pumpfun, can ship amazing products and novel designs with an associated token and get them to market for very little. again, this opens the design space even further. finally, there is always a new onboarding method for every cycle. there’s always a viral app that onboards the masses. this is the largest onboarding event since 2020 and we can see Fomo’s numbers to back that up. i genuinely believe that, for the first time since 2021, we might actually get a large portion of those newly onboarded users to stick around because there is something more tangible than shitcoins. i mean, they’re all shitcoins, but you know what i mean. what i’ve learned above all else, and i think i always knew this, is that you get to your desired outcome by first going through speculation. investors speculate in private markets on the upside of a founder. the founder sells the vision and the dream so the investor can speculate on that upside. that gives the founder the money to actually build the vision. the same thing is happening here. how do you get deep onchain liquidity around tokenized assets, the holy grail? the issuer isn’t going to incentivise liquidity or volume. the DEX might, but it doesn’t issue the assets, so value leakage is high. the chain can’t be seen to be doing it. so what do you do? you let the plumbers and unemployed neets speculate, speculate, speculate. and in doing so, they serve the purpose of getting you to the actual end goal: deep onchain liquidity for RWAs. the same applies elsewhere. Fomo is going to achieve its intended goal of becoming the new age social media, and maybe become one of the first to genuinely do it since TikTok. the method is dopamine through speculation first, then presenting the deeper, more ingrained social elements afterwards. speculation is king. and if you understand how to use it, you can change your life or the trajectory of your company.

i'm ready to run it back imo it has been negative EV sloshing around in the trenches for over 18 months if you are not terminally online and ultra ltf doing this over multiple cycles you get an instinct when it is time to go heavy again and we are there again it's time imo