Today’s live stream discussed PUMP, and I want to reiterate my stance: I’ve never been optimistic about this. You asked about it during previous live streams, and I clearly stated that my concern isn’t its token price but its ecological logic.

To put it simply, it’s just a token launch platform. They do live broadcasts to launch tokens, which sounds exciting, but essentially, this kind of coin is just a “fast run” game. It’s a typical gamble game where the slowest players can only admit defeat and cut losses.
The truly good projects are already doing pre-sale financing; most of the tokens launched on this platform are essentially worthless. The ecological track is actually very harsh.
Although it looks like they burn millions daily, with a 100% burn rate on profits, the data is tempting, but I’ve always been skeptical: does the platform have subsidies to maintain this status? In the early stages, 100% burns for traffic, but what about later? Does the operational team share the profits? Are they just “powered by love”? Once the money runs out, they can’t just shut down the project, right?
This unsustainable model makes me think this track isn’t worth investing effort into for in-depth research.
Unless in the future, all legitimate projects switch to launching pre-sales on such platforms and the platform takes a commission—that could be a real opportunity. #我在Gate广场过新年 $PUMP3L $FORM ‌ ‌