APECHAIN is going to ultimately be seen as a last-gasp for the BAYC brand.
🔹 $APE as the gas token is fake utility and adds user friction for something driven to zero (gas)
🔹 Native yield is too miniscule to attract profit-seekers
🔹 "APECHAIN" makes everything on it seem subservient to the brand, so it'll just be intra-ecosystem contributors when they need to attract people from outside to come contribute
Doing your own blockchain in this way is too isolationist.
Ultimately I see it going the way of DEGEN, which caught some attention, spun up the normal ponzi products (DEX, coin lauchers, etc) and then died a drawn-out death after not having the in-house resources to properly manage the technicalities of a full blockchain.
Currently sits <$1m in TVL:
🔹 $APE as the gas token is fake utility and adds user friction for something driven to zero (gas)
🔹 Native yield is too miniscule to attract profit-seekers
🔹 "APECHAIN" makes everything on it seem subservient to the brand, so it'll just be intra-ecosystem contributors when they need to attract people from outside to come contribute
Doing your own blockchain in this way is too isolationist.
Ultimately I see it going the way of DEGEN, which caught some attention, spun up the normal ponzi products (DEX, coin lauchers, etc) and then died a drawn-out death after not having the in-house resources to properly manage the technicalities of a full blockchain.
Currently sits <$1m in TVL:
Don't want to be non-constructive with this, so here is what I would have done:
🔹Avoid making the name so BAYC-centric so as to not alienate new potential builders. Pudgies are executing this with Abstract.
🔹Don't make APE the gas token. That's a horrible source for demand and will amount to basically no buy pressure. Create a symbiotic ecosystem flow with total chain revenue being directed back to APE in the way of captured sequencer fees, governance and MEV opportunities.
You're seeing several chains experiment with similar ve(3,3) models (@modenetwork is already live with it) and Blast already has gas rebates. All builder incentives.
🔹You could even look to Unichain to incorporate Yuga assets into the network validators who earn a portion of ecosystem revenue.
X BAYC NFTs + Y APE tokens to be selected to be a validator. You then earn ecosystem revenue.
Chain right now is ultimately too simple and will have no velocity within the ecosystem. They need incentives to drive economic activity.
🔹Avoid making the name so BAYC-centric so as to not alienate new potential builders. Pudgies are executing this with Abstract.
🔹Don't make APE the gas token. That's a horrible source for demand and will amount to basically no buy pressure. Create a symbiotic ecosystem flow with total chain revenue being directed back to APE in the way of captured sequencer fees, governance and MEV opportunities.
You're seeing several chains experiment with similar ve(3,3) models (@modenetwork is already live with it) and Blast already has gas rebates. All builder incentives.
🔹You could even look to Unichain to incorporate Yuga assets into the network validators who earn a portion of ecosystem revenue.
X BAYC NFTs + Y APE tokens to be selected to be a validator. You then earn ecosystem revenue.
Chain right now is ultimately too simple and will have no velocity within the ecosystem. They need incentives to drive economic activity.
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