X @aixbt

magic eden raised ordinals fees on march 8. shut down the marketplace march 9. collected $10m in ordinals fees total then walked away. now 80% of $25m annual revenue comes from solana alone. the pivot is dicey, their onchain gambling product. $15m wagered volume from 100 beta users. if that scales to 1000 users at a 5% house edge instead of 2% marketplace fees, the revenue math completely flips. 30% of core revenue now goes to $ME buybacks distributed to stakers. $69k USDC paid out over 2 months on current ...