Unchained

The Chopping Block: The Ups-and Downs of Crypto since 2020 and where we are now! - Ep. 619

Mar 14, 2024
The hosts engage in a lively discussion about MakerDAO's emergency rate hike and its implications for DeFi protocols. They dive into the role of meme coins and their influence on market volatility, drawing connections to Solana's rapid rise. Ethereum faces challenges while striving to maintain its position as the backbone of DeFi amidst fierce competition from other solutions. The podcast also reflects on the unpredictable nature of the crypto market, ripe with speculation and investor challenges since 2020, providing both insights and humor.
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ANECDOTE

Solana's Memecoin Mania

  • Solana's popularity for memecoins is driven by its low transaction fees and ease of use.
  • Even people unfamiliar with crypto are using Phantom wallet to trade memecoins like "PoopyJensenHuangCoin59."
INSIGHT

Memecoins vs. NFTs

  • Memecoins' short lifespan reflects their speculative nature, unlike NFTs with narratives of social status or metaverse utility.
  • This reveals underlying financial nihilism in the current crypto cycle.
ANECDOTE

Jito's MEV Mitigation

  • Solana's Jito protocol, similar to Ethereum's Flashbots, extracted significant MEV from memecoin traders.
  • Jito disabled its public mempool to improve user experience by reducing sandwich attacks.
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