ToastyBurnt
885 posts
@OriginalJakeW i think amidst pumpcade becoming a central focus of CT the last 48 hours, people have forgotten there’s an actual product 😂
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While people focus on the wrong things with the ACE, please read the last word in Pop’s reply.
Pop Punk@PopPunkOnChain
@dtrain22k & a fully open beta version will be live soon (while we work with design team for full redesign + audit new protocol + GTM partners)
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I've been locked into this app all day for the last 2 days since I announced the @pumpcade ACE round. I'm reading EVERYTHING related to ACE, even if I don't reply to it.
I wanted to talk about a few things that i'm seeing.
1. ACE did not create equity at Pumpcade. Equity existed the moment I raised a pre-seed round. That is not some special thing ACE introduced after the fact. That is just how startups work. If a company raises venture capital, there is an equity layer. That was already true here.
What I think people are missing is that this equity layer already exists in almost every company in crypto that has both a company and a token. Usually it is just not visible to the public. The private investors sit on one layer, the token trades on another layer, and most people pretend those two things are not both there. ACE did not invent that structure. ACE makes that structure transparent and gives token holders the option to access the same equity layer that Pumpcade investors have. That is the key point. Not creating some hidden extra thing. Exposing what already exists and opening access to it.
2. ACE was not a quick and fast decision made to retrofit the 2 fundraising rounds. I was presented with ACE a few months ago, long before I had accepted a single dollar of venture capital. I knew that I needed to raise venture capital to build, scale, and operate Pumpcade. Creator fees alone can not run a company doing what we are planning on doing.
3. I looked at all options that try to align token <> equity, and ACE was the one that best fit what my goals were. I wanted to give the OPTION to have access to the equity layer of Pumpcade. There are a few other options, and I am not against them for certain use cases, but ACE is what best fits Pumpcade. Other options typically result in the token becoming the sole product, which overshadows the actual product that a team is building. This frequently results in teams being pressured into making short term corrective actions to address short term price movement. A team raises capital to build a product. A team should not raise capital to immediately spend buying back their token because prices can be volatile.
The optionality of ACE is the most important thing to me, and ultimately why I decided to do it. I wanted to give the option to have access to the equity layer. I didn't want to force everyone (VCs and the public) into a different path.
We are building Pumpcade for the long term, and everyone involved with Pumpcade (team, investors, advisors) are heads down building this long term future where we put Pumpcade in front of the masses.
Pumpcade
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Lot of heated takes on the Pumpcade ACE round. I've been going back and forth on this myself so here's where I've landed.
The bear case isn't wrong. If equity and tokens both exist and claim value from the same business, the token is structurally junior. That's not an opinion, that's how capital structures work. In any acquisition or IPO, equity holders get paid first. Token holders are behind them in line.
But let's be honest about something. This problem isn't unique to Pumpcade. It's literally every VC-backed crypto project.
Every project that has taken seed funding has a company behind it with an equity layer. Uniswap has Uniswap Labs. Pudgy Penguins has Igloo Inc. The list goes on. The equity exists whether you know about it or not. The VCs who wrote those cheques own a piece of the company. Token holders don't. That's the standard. Nobody complains because nobody talks about it.
The only difference with Pumpcade is they're not hiding it. They're saying here's the equity layer, it exists, and here's a way for the community to access it if you want. That's not creating a new problem. That's making an existing problem visible and giving people a choice.
Here's what people are overlooking as-well. The team is giving up 10% of their company to acquire 25% of the token supply. Why would founders, who notoriously hate giving up equity, trade a chunk of their company for tokens if those tokens had no planned utility? You don't give away equity for something you think is worthless. That's not how founders think. The fact that they want the tokens badly enough to trade equity for them tells you they have plans for what those tokens do inside the product. They just haven't announced it yet.
If the token has no utility beyond speculation then yeah, you're holding a junior asset with no defined claim on anything while equity holders sit above you. That's a legitimate concern. But the team's actions are telling you the opposite. People just aren't reading the signal who bring up this argument.
The "250% dilution" framing doesn't hold up either. The equity layer wasn't created by the ACE round. It existed the second Pumpcade incorporated and raised VC money. When Uber raised its Series A, existing shareholders got diluted. Nobody called it a scam. They understood that fundraising means giving up a piece of the company in exchange for growth capital.
The suggestion to just "mint new tokens with holder approval" sounds smart but ignores reality. Fair-launched tokens don't have governance mechanisms. There's no DAO, no voting structure. And minting new tokens IS direct dilution, the exact same thing packaged differently.
What I keep coming back to though is this:
The alternative to the ACE round, which is what every other project does, is equity existing silently in the background while the community holds tokens with zero visibility into the cap table. That's the industry standard. That's worse.
Crypto hasn't solved the token-equity problem. Nobody has. Pumpcade is at least trying something new by making equity accessible to the community for the first time. Whether they nailed the execution is a fair debate. But pretending this problem doesn't exist everywhere else, when it does, it's just hidden.
And this is the whole reason we ALL came into crypto let's be honest, we're interested in the space. We're intrigued by Web3. At least Pumpcade is trying something different.
Anyways $PUMPCADE
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Losing the battle on this app fr. Can't get a view to save my life and, in order to release drops you need an audience. I feel alone and community-less often sharing my art here into the void.
If you enjoy my work, please turn on noti's! This the only workaround I can think of.
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Pumpcade was 100% fair launched from the start.
I did 1 single buy of 1.48% of the supply.
Through extremely generous community members & my tokens I have secured 10% of the supply which is needed for the Pump Hackathon.
You will see the creator wallet balance increase today.
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I've worked in the blockchain space since 2019 and have never once considered leaving
I started at a CEX and made my way from there to RWA, to token management, to gas optimization, to token launch protocols, and now to prediction markets
I'm more motivated now more than ever
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Good morning cade pumpers
This week is devoted to 3 things:
1. GTM strategy
2. Partnership meetings (and some other meetings)
3. Demos. Will be sharing two demos. One is the exact state of private beta (with user feedback). The other is the dev build with unreleased features.
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The private beta has now started.
I'm extremely excited to finally have this product in the hands of users. I've put my all into building this awesome and novel experience by myself for the last few months.
I'll be sending out access codes continuously throughout the week.
PUMPCADE@pumpcade
Pumpcade has now officially entered private testnet beta. The beta users of Pumpcade will help shape the future of the platform & product through their usage and feedback. Beta Access Codes will be rolled out to users continuously throughout the course of this week.
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Deploying & setting up the @pumpcade private beta today.
If you are selected for the first private beta, I will DM you an access code.
Do not try and share your access code. It has 2 uses and then expires. 1 use for the app, and 1 use for the browser extension.
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We’re interviewing pop punk on my stream this Wednesday at 3pm est
Pop Punk@PopPunkOnChain
This will be the biggest project to ever launch on pump fun. Thank you for your attention to the matter. Powered by autism, white monster energy drinks, and $PUMPCADE.
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I’m at a lost for words right now. One of my best friends, big brother, and a good human being, @benitopagotto. I learned a lot from this dude… rest in peace bro… you will be forever missed…..
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