solana:CdhZy8wrRxNxoV8HtoByXKN7mvS46avtuZ1b39tKfx7 (@x7pad) day 1 recap. chaos.
ran to ~$3m pretty quickly, then had a ~90% drawdown that shook a lot of people out.
understandably, people started questioning whether the team was selling.
i can’t prove they did or didn’t. what i can say is they stuck around through it, posting, shipping updates, tweeting and continuing the buybacks.
there was many traders with entries around $45k mc (who now sold). that doesn’t prove supply was clean or rule out they sold, but it’s a reason i’m not automatically assuming the entire launch was controlled and dumped by the team.
meanwhile, the dashboard numbers as of writing:
• $5.14m total volume
• $65.8k in fees generated
• $47.1k spent on solana:CdhZy8wrRxNxoV8HtoByXKN7mvS46avtuZ1b39tKfx7 buybacks and burns
• 54.96m solana:CdhZy8wrRxNxoV8HtoByXKN7mvS46avtuZ1b39tKfx7 burned
• $8.5k paid to creators
• $4.9k paid to holders
• 97 coins listed, 6 bonded
the next thing i want to see is how much of that activity keeps flowing into coins launched on the pad. solana:CdhZy8wrRxNxoV8HtoByXKN7mvS46avtuZ1b39tKfx7 getting attention is one thing; people finding coins they actually want to trade and hold there is what makes this interesting longer term.
still plenty to prove, but the reason i bought hasn’t changed. and i'm happy to see that it's bounced off the bottom. i’ve wanted this kind of model on solana for a while. now i want to see them keep delivering.
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