0xResearch PumpFun, Multi-Product DeFi, MegaETH’s Token Sale, and More | Livestream
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Oct 27, 2025 The hosts dive into PumpFun's acquisition of Padre, exploring revenue capture strategies in meme trading. They discuss the future of multi-product DeFi and how bundling services enhances user experience. Wallet UX improvements are debated, highlighting the need for seamless integration of lending and trading. The excitement around MegaETH’s oversubscribed token sale leads to critical discussions on participant advantages and fairness in ICOS. They also tackle the role of private allocations, questioning whether vetting participants can lead to better outcomes.
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Vertical Integration Wins Meme Value
- Vertical integration captures revenue leaking across the meme-coin supply chain and makes buybacks more powerful.
- Pump's acquisition of Padre is a clear move to capture trading flow and stack more revenue streams.
Passing On Padre Was A Judgement Call
- Daniel describes being long Padre as an idea he considered and then passing because the team lacked clear value accrual.
- He notes the acquisition paid Padre holders in Pump tokens and that Pump got the product cheaply.
Ship Velocity Beats Token Hype
- Product velocity matters more than token promises for trading apps; Axiom succeeded by shipping features relentlessly.
- Pump must move faster to compete or risk losing market share to superior UX products.