Daily Memecoin Recap - December 7

AI coins are here to stay

Mistreated Bear
$honey -> hit $15 .2m, justice for honey
$honey -> hit $2 .6m, OG one
$pooh -> hit $785k , Honey's brother

Nothing
$　-> hit $176m ,

TikTok Meta
$prawn -> hit $48 .8m, pepe the king prawn
$apple -> hit $8 .7m, apple dog
#plankton -> hit $6 .9m
$justin -> hit $1 .9m, justin the tree

Elon's Son
$lilx -> hit $6 .15m,

#minidoge -> hit $5 .4m

Artificial intelligence
#ai16z -> hit $721m
$alch -> hit $115m
#griffain -> hit $100m , agents
$grift -> hit $27 .8m, created by sphereone_

$realis -> hit $23 .5m, AI world
$asym -> hit $17 .4m, somehow related to $bome
#n2 -> hit $12 .8m
#limitless -> hit $9 .6m
$qgg -> hit $7 .5m, Exploring new ways to visualize the blockchain
$outer -> hit $5 .8m
$voyage -> hit $3 .7m
$lucy -> hit $3 .6m
$mates -> hit $1 .9m

Christmas Meta
#wifmas -> hit $4 .8m
#jinglebags -> hit $1 .6m
#pnutmas -> hit $1 .2m, $pnut beta
#babygrinch -> hit $700k
#santacat -> hit $519k

Science Meta
$dna -> hit $19 .8m
$rna -> hit $4 .5m
$xna -> hit $2 .3m
#enzyme -> hit $1 .9m

More Cooks
$rizo -> hit $21m
$kwant -> hit $9 .2m
$trust -> hit $8 .4m, trust the process
$pedro -> hit $8m
$aftr -> hit $4 .5m, a fork in the road
$jim -> hit $3m
#minidoge -> hit $3m
$phrog -> hit $2 .5m
$munky -> hit $1 .6m
$moon -> hit $1 .3m
$sperm -> hit $1 .2m
$bc -> hit $1 .2m, original $btc logo
#dopamine -> hit $1 .1m
#manhunt -> hit $960k , UnitedHealthcare CEO shooter
$pepe -> hit $680k

EARLY ACCESS - Ethereum’s Three Front War w/drakefjustin

For Citizens Only

Unlock Access🔓📷

https://www.bankless.com/p...

🎖️ Justin Sun is elected Prime Minister of the unrecognized micronation of Liberland.

Liberland is a micronation located between Croatia and Serbia, and holds 99% of its reserves in Bitcoin.

The Tron founder said he would promote the idea of ​​small government as a model for the world.

Liberland, a micronation that holds 99% of its reserves in Bitcoin, has elected Tron founder Justin Sun as its new prime minister.

"Just as Vatican City represents a central spiritual authority for Catholics, Liberland will be the heart of the libertarian movement."

Based Rollups

What are they, why do they exist, and which projects are already making waves?

A 101 explainer 👇

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Scaling #Ethereum has been one of the most discussed challenges in crypto.

To address this, the community chose a rollup-centric approach. The idea is simple: Instead of hosting all applications on Ethereum, the focus is on rollups that offer faster, cheaper transactions while still settling back on Ethereum. As a result, you get faster, cheaper transactions, but still keep Ethereum’s security.

They're bringing more users and value to Ethereum, however, concerns remain about their reliance on centralized sequencers and liquidity fragmentation across chains.

This is where based rollups come in. They integrate more closely with Ethereum's infrastructure, helping retain value within the ecosystem. This new method of building rollups could bring additional value to Ethereum and $ETH .

What are Based rollups?
Based rollups, or L1-sequenced rollups, are a type of rollup where the base L1 chain, like Ethereum, manages transaction sequencing directly.

Unlike traditional rollups that rely on their own sequencers, based rollups tap into the security, liveness, and decentralization of the L1 by outsourcing transaction sequencing to the L1’s infrastructure. This infrastructure includes proposers, searchers, builders, and other actors who permissionlessly include based rollup blocks in L1 blocks.

How do Based rollups work?
Based rollups use the L1 for consensus, data availability, and settlement layers, while handling execution independently. For instance, when Ethereum is the base L1, the key layers of based rollups are as follows:

1. Execution Layer — Managed by the rollup itself, where transactions are executed off-chain.

2. Consensus Layer — Relies on Ethereum validators to sequence transactions.

3. Data Availability Layer — Uses Ethereum as the DA layer to ensure that transaction data is available for validation by anyone.

4. Settlement Layer — Also part of Ethereum, where final transaction states of the rollup are recorded.

Based rollups use Ethereum for everything from ordering transactions to settling them. While this approach may not seem radically different from traditional rollups, it fundamentally shifts how sequencing is handled. Instead of relying solely on separate sequencers, based rollups leverage Ethereum itself for transaction sequencing.

Why based rollups?
As Justin Drake outlined in his original post, based rollups are worth your attention for several reasons:

1. Inherited Liveness and Decentralization — One of the key advantages of based rollups is their ability to inherit the liveness guarantees of the base L1 chain. As long as the L1 is operational, so is the rollup.

2. Economic Alignment with L1 — The economic model of based rollups creates a mutually beneficial relationship with the L1. Priority fees and MEV from these rollups naturally flows to the L1. This synergy doesn’t just add value to the base layer, it also boosts the legitimacy and brand awareness of the rollups themselves, thanks to Ethereum’s community.

3. Cost Efficiency — Outsourcing sequencing to Ethereum reduces development costs, accelerates time to market, and lowers user costs (especially at scale) for based rollups.

However, based rollups have trade-offs. They sacrifice some profitability by relying on Ethereum for sequencing, missing out on priority fees and MEV. Additionally, they contend with Ethereum's inherent challenges, such as slow block times, which can cause latency issues.

There's a real debate that these changes might compromise the simplicity and security that initially made based rollups appealing.

Daily Memecoin Recap - August 27

Volume was slow today with $btc & $sol decreasing

Cat Meta
$smh -> $1 .15m to $3m (2.6x), "So Much Higher"
$sicko -> $200k to $1 .35m (6.75x), heavily pushed today
$mood -> hit $520k , twitter community instead of an account

Dog Meta
$spikedog -> hit $625k , "4chan dog", good meme
$updog -> hit $335k , $bane CTO lead (ATH $7m ), CTO

Tron Memes
$biao -> $3m to $6 .5m (2.2x), famous Chinese meme
$elmo -> hit $8m , heavily pushed by KOLs, based on elmo

$vangogh -> hit $4 .1m, based on a justinsuntron tweet

More Cooks On $sol
$deebo -> $230k to $1 .55m (6.7x)
$money -> hit $580k , "Just give me my money"
$that -> hit $530k , "tinfoil hat",
$sym -> hit $390k , "Symphony", CTO
$mp3 -> hit $350k , "mood: Printing Trillions", twitter community instead of an account

Traditional markets are historically low volume during summer -> Crypto majors follow -> Memecoins follow

Looking for a push sometime into end of year, for now patience is key, focus on quality over quantity

💬 Justin Sun proposes a DAO to help free Pavel Durov and pledges a million dollars to its creation.

“We should show the unity of the cryptocurrency industry by organizing a DAO #FreePavel to help Telegram founder Pavel Durov legally gain freedom.”

“I will donate $1 million if it is created in a decentralized way with enough community support.”

https://x.com/justinsuntro...

Daily Memecoin Recap - August 20

All Eyes On Tron

Justin Sun - $trx 's Final Boss
$sundog -> hit $250m , rumours that it was launched by Justin Sun's team, a lot of big influencers got in on this early, launched their own tron trading bot "sunbot"
$wukong -> hit $32m ,
justinsuntron changes his pfp to wukong & tweets about it
$suncat -> hit $23 .5m
$sunwukong -> hit $13 .5m
$sunned -> hit $10m , organized push, "get sunned"
- justinsuntron has been bull posting Tron heavily
- People have been bridging over from sol recently to follow the hype
- justinsuntron launched sunpump, which is essentially pumpfun on the tron blockchain

More Tron Cooks
$fofar -> hit $43 .9m,
matt_furie inspired coin one of the leaders on Tron
$biao -> hit $6m , a popular Chinese meme, the same coin exists on $sol
$troge -> hit $5 .5m, tron $doge
$blake -> hit $4 .7m, cartoon character
$tbull -> hit $4 .6m, tron bull
- There has been many multi-million runners this past week
- Trading on Tron is refreshing and is a lot less pvp then sol at the moment

Some Sol Cooks
$coby -> $1 .7m to $5m (2.94x), dog meme
$glep -> hit $500k , cool art
$hff -> hit $325k , "Holy Frog Father"

Very low liquidity on solana today

The whole timeline is bridging over to Tron, it's a much more PvE environment

Everyone's wondering one thing: How long will the Tron craze last?

The hype on Tron is completely dependent on Justin Sun's next moves. Ultimately I do believe that liquidity will rotate back to $sol

Thoughts on Tron?

Holding an open discussion on 𝕏, BitGo’s Mike Belshe joined Justin Sun and original WBTC contributor Meow to address concerns about WBTC custody changes.

Earlier this week, BitGo announced changes to WBTC’s existing custody model that included distributing influence across several parties and geographic jurisdictions.

The move drew a wrath of criticism from the cryptocurrency community, notably due to the involvement of Tron founder Justin Sun.

Seeking to clear the air, Jupiter co-founder and original WBTC contributor Meow welcomed BitGO CEO Mike Belshe, Justin Sun, and BitGlobal representatives to a public forum to shed some light on the situation.

MIKE BELSHE PUTS BTC USAGE CONCERNS TO REST
One of the key concerns outlined by the crypto community following BitGo’s original announcement was what the Bitcoin used to back WBTC would be used for. Acting as a voice for the crypto community at large, Meow posed the question of BTC utilization to BitGo CEO Mike Belshe.

Assuring over 5,000 captivated listeners, Belshe put their nervous minds to rest, highlighting that “when you put [Bitcoin] inside of a trust company you’ve got it wrapped in a mechanism which has got a fiduciary responsibility in a very legal way.”

Reinforcing his statement with additional context, Belshe acknowledged that people’s “number one question” was that “the bitcoin behind [WBTC] is not gonna get hypothecated, rehypothecated, lent out, used, taken, put somewhere else.”

Highlighting the legal constraints of BitGo’s position, Belshe assured listeners “The regulatory construct that we have makes it so that it’s actually illegal to do that.”

A TRANSFER OF TRUST?
Part of the BitGo X GitGlobal collaboration means that multi-signature keys with access to custodied assets will be distributed across several companies. While on paper this aids in decentralization and security, Meow and the community raised concerns regarding the involvement of BitGlobal, a relatively new and unknown entity in the space.

By transfering ownership of keys, Meow theorized that the “transfer of trust will take a long time” arguing it could be “quite a hard pill for the community to swallow”.

Responding to Meow’s claims, Belshe asserted “BitGo is not asking you to take the same trust that you had in BitGo and just give it to somebody else.”

Hammering his point home, Belshe contended that decentralization remains one of the strongest security measures available. Posing the rhetoric, Belshe asked “Is it more secure to have the two parties, or is it more secure to have BitGo hold two keys?”

THE JUSTIN SUN FACTOR
The announcement of Justin Sun’s involvement in the arrangement has been one of the collaboration’s biggest items of contention. Some long-standing crypto protocols like MakerDAO have argued that Justin Sun’s involvement adds an “unacceptable level of risk” to WBTC, proposing to reduce their WBTC exposure to 0.

Justin Sun’s commentary during the forum was admittedly brief. Downplaying his role and involvement, the controversial figure noted “the protocol, how to mint, how to burn and also the transparency and all the procedures remain the same.”

Adding further clarity, Sun contended “other than some of the keys being moved out of the U.S., I don’t really think there is much difference.”

Beyond assuring listeners that nothing had changed, Sun revealed his vision for the future of WBTC. Positing that “not everything we do is purely to make money” Sun believes the team should focus on expanding WBTC market cap, TVL, and helping the asset establish a presence of more blockchains.

BitGo's WBTC custody shift to a Justin Sun -linked venture alarms Maker, citing $TUSD issues under Sun's control. Solana holders, with $108M in WBTC, are also concerned about potential risks and impacts of this move.

🚨 Justin Sun announces the creation of a billion-dollar fund to combat confusion and boost liquidity.

" Don't worry ! The industry has grown significantly over the past year, and this market fluctuation is not due to negative news.
We must reject the rumors and continue to build.
That’s why we’re creating a billion-dollar fund to combat confusion, invest more, and provide liquidity. »

https://x.com/justinsuntro...

🪙 Tron teams are working on the development of a new solution that allows transfers of stablecoins without gas fees from the native Blockchain.

The fees would be fully covered by the stablecoins.

Justin Sun reports that this innovation will first be implemented on the Tron blockchain in Q4, before supporting Ethereum and all EVMs.

https://x.com/justinsuntro...

Justin Sun is making an offer to buy all of Germany's Bitcoin Off-Market.

Come the fuck on🤯🤯

Is Solana's economic security doomed?

aeyakovenko & drakefjustin strongly disagree

Who do you think is right? 👇