It’s a lot more nuanced that that. Once it went below $1, the token reached and then passed it’s “doomed” point. Go look at the charts. It’s now on the “stability” track whereby it picks an average mid-point and stays there until something crazy happens that causes it to spike up or down. e.g. it’s been struggling to hold $0.80 since July.
And as I pointed out here, the token unlocks are now largely immaterial unless Yuga founders and/or Yuga Labs dump large amounts in a short span of time.
The DAO’s monthly $5.5M unlock is also largely immaterial now, and like DAO grants, even the $100M BB fund is going to cause token price depression because those funds need to be converted to fiat. Those are going to continue to be the pressure points for the token.
You know this, how? They haven’t said anything about what projects they are or are not signing.
Unless they are revenue generating, they are immaterial. ApeChain is an L3, and while it’s conceivable that it could generate revenue (fees and such), comparison to other L2s and L3s will clearly show that it takes time, causality and material catalysts for any project to affect the token (which is what it all boils down to) action. TVL is a nonsensical metric that nobody pays much attention to anymore. Go look at the tokens for other chains, even the most popular ones, - there’s your answer.
Besides Otherside - which isn’t [yet] on ApeChain, I am not aware of any Yuga games coming to ApeChain. Did I miss something, or are you talking about the UGC ones being built with the ODK?
And how are they [Yuga] going to “ensure” that games will be built on ApeChain? Or did you mean their own games? Even so, their own games are largely insufficient to make a difference or a dent to ApeChain, and further, Yuga can’t be expected to be the primary force to carry ApeChain. I believe we can all agree that the chain needs to grow outside of our echo chamber.
Sure. Doing the same thing that others have done elsewhere is certainly a great plan. And when the dust settles, we would have built an L3 that touts it’s ability to run memecoins.
Aside from the fact that the primary incentive that I see for running a memecoin on ApeChain as opposed to other places, is if they are unique and have sustainability in terms of how long before the rug.
I should point out that ApeExpress will make it possible, but who will come - and why? That’s how you get to the PMF part of these things, and in doing so, you have to take into account all other factors.
This is a crucial point made during the ApeChain RFC, but one that’s only relevant if the dApps generate enough fees for gas to be a factor. It’s like having a gas station in a town with a majority of electric vehicles.
Little remembered fact is buried in the ApeChain proposal: AIP-378: ApeChain Bid // ApeChain Developed with Arbitrum Technology with Growth Led by Horizen Labs relates to the 3 year grant that Arb Foundation gave the DAO. After that, we have to start paying for stuff.
- If Arbitrum technology is adopted, the Arbitrum Foundation is happy to provide grant funding to go toward the following costs:
- Rollup-as-a-Service Provider (3 Years)
- ApeChain Security Council (3 Years)
- Block Explorer (3 Years)
- As previously stated, the Foundation is also excited about the prospect of a collaboration between the ArbitrumDAO and ApeCoin DAO and is motivated to start a dialogue between the two organizations.
You should. It’s the right thing to do - for the culture. 