I’m observing thingsPixel Property (🏠,🪙) (@Pixelproperty_):Just an observation 🤔Pudgy mcap - $254MPENGU mcap - $1.5BAzuki mcap - $60MANIME mcap - $52MDoodles mcap - $32MDOOD - mcap $60MCrytoPunks - $1.8B$PNKSTR - $110M ...

RT Xeer (@Xeer)In order to test the second flywheel, @token_works the creator of Punk Strategy bought one of the 6 punks to activate the buy back and burn mechanism.The ETH from the sale was used to buy back and burn $PNKSTR effectively reducing the overall supply.That single move sent the market cap from 13.5m to 20m almost instantly. ...

In order to test the second flywheel, @token_works the creator of Punk Strategy bought one of the 6 punks to activate the buy back and burn mechanism.The ETH from the sale was used to buy back and burn $PNKSTR effectively reducing the overall supply.That single move sent the market cap from 13.5m to 20m almost instantly. ...

I'm pretty sure that Punk Strategy will die fairly soon.The model depends on consistently high volume and listed Punks selling at a 1.2x premium so that the funds can be redeployed into $PNKSTR.Here are the problems I see:1) The 10% tax is very high and makes trading less attractive (see loud*o). Including 2% that goes to the team.2) At the current floor price, the 1.2x premium for listing is almost $50,000 USD. Unless the floor price of CryptoPunks rises (significantly) or a whale buys the listing, there i ...