Steady Lads #42 • PVP Season? Memecoin Supercycle? w/ Special Guest: Qiao Wang
May 10, 2024
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Blockchain analyst Qiao Wang joins the Steady Lads to discuss market trends, meme coins, Layer 2 solutions, token launches, due diligence, and political impacts on the crypto market. They dive into the rise of meme coins, the evolution of Layer 2 solutions, and navigating due diligence in venture capital.
Market trend points to potential summer slowdown without major player influx.
Meme coins create super cycle with fundamental demand, disrupting traditional markets.
Oversupply of Layer 2 solutions highlights need for successful app chains and brands.
Deep dives
Effect of Current Market Trends on Trading Behavior
Traders discuss the current market trend of lower highs and inflow slowdown, pointing to a potential summer slowdown unless significant players enter the market. While some are shorting altcoins and maintaining net flat positions, others highlight the consistency of long Bitcoin and short altcoin strategies in trading approaches.
Impact of Meme Coins on the Crypto Landscape
The rise of meme coins is seen as a super cycle with a fundamental demand for them, evidenced by their disruptive effect on traditional markets like sports betting. The comparison highlights the unlimited upside potential of meme coins compared to binary outcomes in sports betting, attracting a different user base focused on online culture and entertainment.
Strategies and Challenges in Launching Chains and Layer 2 Solutions
Discussion revolves around the oversupply of generic Layer 2 solutions and minimal differentiation, emphasizing the need for successful app chains and brands. The challenges of navigating regulatory uncertainties and the balance between points and tokens in product launches are highlighted as essential aspects for sustainable growth in the decentralized landscape.
Reasons Behind Airdrops
Projects are now engaging in airdrops as a way to distribute tokens to the community for decentralized trading. Airdrops provide a legal pathway to distribute tokens, engage the community, and potentially set the groundwork for future token sales. Despite initial skepticism, airdrops continue due to their low cost, community building benefits, and potential positive impact on project vibes.
Challenges with Traditional Token Sales
Comparing airdrops to traditional ICOs, the latter poses limitations in audience reach, regulatory compliance, and cost-effectiveness. While ICOs require KYC procedures, limit initial participants, and can lead to regulatory challenges, airdrops offer a more inclusive distribution model. The discussion also touches on optimizing airdrop strategies, such as providing warrants or options instead of free tokens, to enhance community engagement and minimize regulatory risks.
This week we were LIVE with special guest Qiao Wang (@QwQiao on X)! The Lads has a blast talking about the current market, memecoins, and if everyone needs their own chain. They also chat about points meta, sybil game theory, and the latest PvP drama before finishing with some excellent pastas! Thanks for tuning in, and make sure to Like & Subscribe!
In this episode we cover:
00:00 Intros
03:07 Brutal Price Action
09:24 Memecoin Supercycle
22:46 So Many L2s, So Few Projects
33:02 Jordi Talks $PUFF
37:48 EigenLayer Claims & Points Meta
41:52 LayerZero & Sybil Game Theory
51:04 PVP Drama & Due Diligence
55:31 Pasta of the Week 🍝
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SL Twitter/X: https://twitter.com/0xSteadyLads
SL YouTube: https://www.youtube.com/@0xsteadylads
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* QW • https://twitter.com/QwQiao
* Justin Bram • https://twitter.com/JustinCBram
* Jordi Alexander • https://twitter.com/gametheorizing
* Taiki Maeda • https://twitter.com/TaikiMaeda2
* Thiccy • https://twitter.com/thiccyth0t
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