Ghøst

PVP has been a massive point of contention over the past few days, and many plead for a fix from the launchpad layer. however, I believe the causation of PVP is misguided and isn’t the result of the launchpad, but a result of: 1) broader liquidity leaving the market 2) behavioral problems it’s no secret that we’re in a bear market & more liquidity has left the market than has entered over the past 6 months, hence why ceilings are much lower & opportunity feels scarce with lower liquidity & lower ceilings comes the desire to find edge elsewhere. if traders know they’re not going to succeed holding, and they can't beat other traders, there may be edge in redeploying an already successful coin; whether it’s under the guise of a better ticker, image, has tracked wallets, fee distributions, etc. while I think this behavior is incredibly destructive, I believe it is a permanent pendulum, and I believe we're currently at the extreme end of that pendulum, which is why we’re experiencing incessant & unrelenting PVP compared to what we see in a bull market (PVP exists, but faces nowhere near the level of participation as we see now)