Chingon retweeted
A word of advice: if you’re a maxi for a project that’s down 10’s of billions of dollars in value destruction from the ATH (where you were still urging people to buy) – I’d maybe spend time thinking about how to recover those losses for your investors rather than throwing shade.
Chingon retweeted
Since this is the case, I'm just going to brain dump and expand later.
Things Mega has done differently:
→ Get a term sheet from Polychain, use it to get a term sheet from Paradigm/Dragonfly and then use the Paradigm term sheet to get a better valuation from Dragonfly. Then, psyop retards from Nigeria into thinking you are a community chain while selling tokens to notorious dumping bandits from CT. VCs still have a significant chunk of the network
→ Raise multiple times to build an L2 just to take more money even though we don't really need it because we're building commoditized technology
→ Founder sometimes crashes out and kicks teams out of the accelerator if they don't agree to egregious rev share terms. Make sure to also include all the friends of the CSO and give them preferential treatment vs other teams
→ Put reth on a big box and pretend we just built the future of finance
→ Use altDA because Eigen gave us a 7 figure grant
→ Proximity markets to close the colocation value leak that exists in all ecosystems. HFT firms won't use this though since there will be no bps to extract on MegaETH. Unclear who the marginal user for this is
→ Pay mid 7 figures to Chainlink with the money we raised so they could do a custom integration
→ Creating it's own stablecoin with Ethena. Very likely nobody will use this because the chain will be dead in a month or two.
→ Running block building at-cost because the team will already have enough money from selling the token and all the rounds raised
→ KPI Staking instead of endless time-based unlocks (This only applies to stakers, the team and investors have a normal unlock schedule)
→ Giving token allocation to well known scammers because 'They're friends with Breadguy'
When people as me "what's Mega's moat?" I don't tell them any singular thing—I tell them it's a group of people with repeated desire to scam with creativity, market awareness and an extreme willingness to say "fuck your norms, we're getting our bag"
You can fork the scams, it's just a scam.
Since this is the case, I'm just going to brain dump and expand later.
Things Mega has done differently:
→ Rejecting VC money in favor of community raises
→ Raise in multiple native vehicles so everyone has a chance at exposure
→ Building up an ecosystem via a co-living accelerator instead of blasting grants
→ Leaning into sequencer superpower instead of running from it
→ Using altDA to max performance even though it's not "aligned"
→ Proximity markets to close the colocation value leak that exists in all ecosystems
→ Enshrined oracle with Chainlink instead of doing "standard" integrations
→ Creating it's own stablecoin with Ethena instead of having value leak to Circle and creating a net-new economic model for the ecosystem
→ Running block building at-cost
→ KPI Staking instead of endless time-based unlocks
→ Giving token allocation based on objective onchain and social merit
When people as me "what's Mega's moat?" I don't tell them any singular thing—I tell them it's a group of people with repeated desire to tackle problems with creativity, market awareness and an extreme willingness to say "fuck your norms."
You can fork the outcomes but you can't fork the mindset.
Chingon retweeted
Nice to finally meet you.
We purpose-built a superior L1 by every objective metric. It’s already live, producing 40ms block times and 1K TPS with a single profitable, high-usage app. So at this point – all attention is good attention.
As the real “kiss of death” for a new chain like Fogo isn’t doubt: it’s indifference. Shipping something groundbreaking, only to have nobody notice or care. Not good
And the fact is, I have under 10k followers – while the loudest voices here have millions combined. And right now, those voices are introducing people to Fogo, our team, and our radically different approach.
So to all voices with an opinion on Fogo today? Thank you.
You are doing us a favor. You are getting eyes on our L1 when it’s live, active, and still early enough for those who want to learn more and commit.
Now the ball is in our court.
It’s on me, @0xdoug, and the rest of the team to step up and tell the story of how Fogo goes from where it is today – to a top L1 supporting a leading perps DEX, @ambient_finance, and a suite of high-grade DeFi apps built by traders, for traders.
How well we do that will dictate what happens on our own chain next week on Dec 17th.
Game on. Thanks for following along.
Chingon retweeted
Quick ICO comparison for anyone looking at the Fogo presale:
Monad:
→ $187M raised
→ $2.5B FDV
Fogo (Dec 17):
→ $20M presale
→ $1B FDV
That’s ~9.4x less capital raised by Fogo at ~40x of Monad’s valuation.
Both are live L1’s today with real TPS that you can also compare.
Just the facts.
