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Everyone is a storyteller.
Founder, investors, deeds, builders, academics, writers – we make all the observation data into a digestible narratives and create an understanding of our chaotic world.
Problems can be further, however, when vanity metrics become a stand-in for real official insight.
For example, take uber. In the early years of the company, the topline vanity metrics such as total trips or total active riders were “meaningless” and were never mentioned in almost internal meetings.
“Instead, the discussion was always focused on the dynamics of each individual network, which could be done independently of each other, with an increase in marketing budget, encouragement for drivers or riders, with improving or on-a-guounds of efforts, or on-the-knot operational efforts,” Cold start problem,
Topline metrics create confusion of success, but obscure the reference required to track real development.
Crypto, also, suffers from many such vanity matrix.
The most arrogant example is probably “daily active address”. Metric says very little for two reasons.
One, the construction of the new wallet is completely frictionless. Two, the industry presents monetary incentives to spin new purse and game aircraft.
What about MemeCoin Launchpad Matrix?
If you have recently paid any attention to Solana, you probably know that the premiere launchpad of the ecosystem, pump.
“Lunchpad Wars” has given a lot of attention to Crypto Twitter-I feel because consumer is responsible for bringing the decline of the application to the relevant post-FTX in relevant post-FTX.
But recently, the pump has made a comeback: 23.9k tokens launched at the pump yesterday against 3,954 on latebone.
In terms of graduation rates, 151 tokens graduated from the pump, while JP Studio and Latbone received 64 and 51 graduates respectively.
Now, do these numbers matter? Depends on whom you are asking.
For pump investors, it is probably meaningless. Not only they are looking backwards during only 24 hours, there is little hope that the number stays beyond a day or a week.
But the founder of Mesa Sebstian L. (A marketing agency for token launchpads) told me otherwise.
In Memcoin “trenches”, dejen traders see graduate rates as a relevant signal, where the next win is Memcoin. The idea is that if Launchpad A is graduating 100 tokens daily, while launchpad B10 graduates, you will probably want to put your chips on the tokens coming from A.
It is not a strong gap, but it is something. It is a temporary gap that Thia’s Felip Montialegre Refers As the “scaling point fairy dust” of the pump.
The wheels of luck can roam in favor of the pump today, but they can spin in the favor of another launchpad next week.
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