Pump raised $600 million in 12 minutes. Then the token crashed… and sentiment with it.
In this episode, Delphi’s Yan Liberman, Jason Pagoulatos, and Simon Smockey unpack what really happened, from the lack of investor lockups to the underwhelming post-ICO communication, and what Pump must do now to win back the market.
We also get into whether the “everything app” strategy still makes sense, what decentralization means after this cycle, and what tokens can learn from equity markets.
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Timestamps:
🎬 0:00 Intro
💥 2:53 How Pump’s months-long hype set the stage, and why it may have backfired
🔓 11:07 Whether the lack of investor lockups hurt confidence in the token
😬 17:13 Why Jason found Alon’s post-ICO interview with Threadguy underwhelming
📉 22:52 Why Yan still sees strong risk-reward in PUMP despite the crash
🔥 24:29 What Pumpfun can do now to reignite interest and rebuild momentum
💸 34:19 Whether buybacks or business reinvestment is the better path forward
📱 36:37 How realistic the “everything app” vision is, and whether M&As can save it
🌍 47:16 What strategies could finally bring normies onchain
🧵 53:22 Whether the PUMP launch proves that decentralization is dead
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