Avalore Dump Week 41
"My tummy hurts" Edition
Gbusiness everyone! Hope you’ve had a good week and some strong deal flow.
I won’t bore you with much preamble this week—my messaging has been fragmented in the past and I’m trying to give more clarity on what Avalore really is: a space for AVAX community news.
Solana / Avax Comparisons
I’ve touched on this many times here but it keeps coming up again and again. The institutionalization of crypto is not just limited to AVAX (more on that later) but is also taking place on other chains.
Solana, once known for being THE place for consumer crypto, has been frustrating its users by moving away from them and trying to be more “serious.” Sound familiar?
I’ve blanked out the chain because this could easily be about AVAX FDN, but it’s not! This is Solana!
What Kate meant by calling Solana the AVAX of this cycle is that they both once had a thriving onchain economy, but AVAX, as we know, died down quite a bit since its golden days.
Solana is looking to do the same as all its metrics are down dramatically as well. AVAX community members began to commiserate with Solana users about this, and then our favorite Director of External Communications was quick to step in.
He hit us with the tried and true “Solana is jumping off a bridge, so we should too” defense. Which honestly, fair play to him! Solana nailed the onchain narrative, maybe they will nail this one too!
Either way, if the proverbial puck is actually falling off the bridge, skating towards it does nothing for us average crypto users. As I’ve said many times, this might even be the right decision for the companies, but we (CT) lose here either way.
I wish both AVAX and Solana the best of luck in their endeavors to capture institutions! Hopefully doing so will mean positive things for the token price and onchain communities!
Blaze Community is Angry
It seems the Blaze community is up in arms over some kind of Blaze Prime program that was launched a few weeks ago. I won’t speak too much on this since honestly I have no idea what’s going on over there, but multiple people have told me that it was run poorly.
It sounds like they are massively diluting the ecosystem in the hopes of encouraging new people to join. Shocking!
I feel bad for people that are heavily invested, but this is the point of having a token guys! I thought we learned this with Salvor already—when a token is used exclusively as incentives for using the platform, it will go down over time. See: $ART, $BLAZE, $BLACK, $JOE, etc etc etc.
Don’t hold high emission tokens!
Meanwhile their monthly 50k expense transfer was up to 80k this month. Maybe they are using the extra money to buy back the token? I don’t have the energy to trace this, but maybe someone else does. Also please note that this is an incredibly expensive business to run—streaming infrastructure ain’t cheap!
All this to say, things are not looking great in Blaze world. They raised a ton of money, and the product undeniably works, but has yet to find the kind of adoption that could make the token worth holding. Hopefully that changes in the future! I streamed on Blaze last week—it was fun!
Cave Launch
Couple more tummy aches then up only!
In the latest Grotto scam, Snaps has finally launched the $CAVE token. For those who are unaware, $CAVE is the token of the only premier DEX on The Grotto blockchain. Yes I can make the same joke again, it’s still funny!
As of writing, it appears the token is slightly below presale price, which is not too bad. Now all we need are some tokens to trade on the chain so we can stake for DEX revenue!
Don’t worry, I’m sure our favorite grifter has something just for the occasion:
We buy Bob nfts, so we can buy more $CAVE, so we can stake it to get trading fees from when we buy the $BOB erc20 token. The Grotto flywheel!
Congrats to those who sold their presale for profit, and congrats to the rest of us that are long term Grotto community members.
AVAX is for Business
Arielle, SVP for AVAX growth (former Solana head of comms), finally gave us some clarity on AVAX’s future this week.
I know we were all confused by the messaging coming from the main socials—it was impossible to figure out exactly what AVAX’s narrative was.
Maybe AVAX is trying to target corporations? Or institutions? Or maybe the target market is actually companies? No, perhaps the AVAX narrative centers around enterprises?
It was hard to tell! But finally we have some clarity:
AVAX is for business!!!!1!!!
Well, I’m glad that’s sorted.
Her comments about Summit are a bit discouraging as well. I’ve been on the fence about going as I was worried it would just be a bunch of people in suits (and Wrathtank) shouting “business” at each other over and over again, and this kind of confirms that.
The only redeemable quality of these things is the side events, so to call those out specifically and say the focus should be on people “doing business together” is sort of signaling that people like me shouldn’t be there. I’m not trying to do business with anyone!
Maybe we can hold our own community Summit instead? A golf trip or something? We can even do it on the weekend!
Hot Emin Summer Continues
Let’s end on a positive note this week. The Hot Emin Summer Twitter account was created!
In just 3 days, the account managed to ratio the main AVAX account with a quote tweet! Pretty impressive. Surely this would qualify whoever is running it for a position at AvaLabs marketing.
Wow! Amazing!
Can Nobs save us yet again?
Tune in next week to find out!
Tweet of the Week
