0xResearch MegaETH, Pump, NYSE | Livestream
Jan 19, 2026
Dive into the riveting world of crypto as the hosts dissect Pump's bold acquisition of Padre and its implications for token launches. The discussion heats up with the NYSE's plans for 24/7 tokenized stock trading, raising questions about regulatory timing. A global stress test for MegaETH is on the horizon, sparking debates over long-term demand and developer interest. The conversation further explores how DeFi platforms can scale and the strategic need for smarter incentives to retain users in a competitive landscape.
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Launchpad + Exchange Creates Stickiness
- Pump's acquisition of Padre ties token launches to an owned trading venue, increasing platform stickiness and market share.
- Owning both launch and trading front ends helps Pump capture trading volume that previously flowed to independent bots like Axiom.
Trading Front Ends Drive Liquidity
- Axiom held roughly 50–60% market share of trading platform volume while Padre rose from <5% to ~10–15% after acquisition.
- Volume gains show trading front ends, not just token launches, drive where liquidity congregates.
Revenue Beats Tokenization For Cashing Teams
- Highly profitable trading bots often see no rationale to launch tokens because they already generate substantial private revenue.
- Launching a token can mean sharing revenue and risking market share for a cash-flowing private business.