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@DefiIgnas pmf being the hot narrative is a pretty healthy plot twist, real users and real revenue just hit different

@DefiIgnas pmf actually sounds way less fake than usual lol

@DefiIgnas Seen this "fundamentals" pivot every cycle, usually ends in more bags.

@DefiIgnas so true, focusing on actual revenue is finally the move.

@DefiIgnas fees been the thesis since 2021 lol

@DefiIgnas the rotating liquidity point is the real crux even with pmf memecoins fragment attention so fast the wealth effect never compounds

@DefiIgnas finally moving past the vaporware phase feels so good.

@DefiIgnas this chart but PMF takes january 2026 and we're onto something else by march

@DefiIgnas really... first lets see how low memecoins will go.. x.com/maigamarkets/status/2086…

@DefiIgnas The tokenization line is the one to watch. Regulated strategies are coming onchain

@DefiIgnas Epic breakdown mate

@DefiIgnas have you considered other oracles than chainlink? asking for a friend

@DefiIgnas Tokenization + Perps both make your list, we're at the overlap. $262M open interest on a single stock perp (SPCX) right now, real positions not vaporware. PMF shows up as order book depth, not a deck.

@DefiIgnas put trade supply chain on there at some point

@DefiIgnas Do you think x2xpay.me has a chance to get PMF? 😉

@DefiIgnas PMF filters narratives from noise

@DefiIgnas Kaito mentioned

@DefiIgnas PMF is the real meta now, utility over hype wins 2026.

@DefiIgnas How could you miss BNB chain and HYPE? both chains are successful. Otherwise your tweet is really good. crypto goes from vapourware to PFM

@DefiIgnas the memecoin example is tricky tho memecoins have real PMF (clear demand) but no retention, totally different from DeFi/RWA which have PMF + retention together so PMF alone isnt enough, it needs to be PMF + sticky capital

@DefiIgnas so we went from buying dog coins to analyzing token holder revenue bull market confirmed

@DefiIgnas @origin_trail surviving since the ICO era proofs exactly this. They have revenue from outside the crypto space ethereum:0xaa7a9ca87d3694b5755f213b5d04094b8d0f0a6f

@DefiIgnas the wealth effect point on memes is the sharpest part

@DefiIgnas The problem is that the things that currently have PMF scare away potential users of products that have yet to reach PMF. The degen gambler will not use your supply chain app. And your basic enterprise will get shut down by compliance because "everything" crypto is gambling

Crypto cards already deliver measurable PMF through $759 million in July spend and 8.77 million transactions. That volume sits on stablecoin rails rather than recycled loops, with USDC and USDT making up the large majority. Neobanks sit one step further downstream, converting the same demand into everyday spending without forced sales. The contrast with memecoins is clear: one category sustains real-world usage while the other keeps rotating capital without lasting wealth effects.

@DefiIgnas Solid shift toward real PMF and sustainable revenue over endless narrative rotation.

@DefiIgnas Onchain credit will find its PMF in 2026 Mark my words

@DefiIgnas pendle

think this is the real reset crypto needed narratives can still pump anything for a while, but eventually the market has to care about who actually has users, revenue & a reason to exist memes clearly found PMF. the harder problem is keeping capital from rotating out the second the next shiny thing appears

@DefiIgnas Pendle

@DefiIgnas real demand shows up in the boring number: are people still around in week 4. every project claims PMF, almost none will show you that retention curve.

@DefiIgnas the memecoin pmf take is interesting real demand but the rotation problem kills wealth effect

@DefiIgnas PMF in crypto needs a stricter filter than fees alone. 👀 1. Are fees recurring without incentives? 2. Do users stay when emissions fall? 3. Does value reach token holders? Revenue that disappears with subsidies is rented demand, not PMF.

@DefiIgnas Privacy still feels underappreciated despite the market already showing strong demand for it.

@DefiIgnas pmf being called a narrative is the funniest part. the second ct turns "does it make money" into a rotation trade you get the same behaviour as memes, everyone piling into whatever revenue chart is pumping this week and calling it fundamentals. real pmf is boring and doesnt trend

@DefiIgnas Weird to see all of this and not see one of the single most consistent revenue producing products (mining) on this list. @ORE

@DefiIgnas Yea, I remember back then there's so many sunshine and rainbows rather than 2026 but until now most of them still here Is there any new narrative for now? I don't think so

@DefiIgnas Solving real problems is the goal

@DefiIgnas The same standard is overdue on the risk side. Everyone claims risk management. Very few publish the record — the events, the lead time, the inputs that produced the call. Ours is public: riskloom.ai/replay

@DefiIgnas Agree. Most narratives optimize for attention. PMF optimizes for willingness to pay and repeated usage. The shift from “what’s trending” to “what people actually keep using” is overdue.

@DefiIgnas yes sir

@DefiIgnas What do you think about @get_optimum 's fundamentals?

@DefiIgnas the rotation in meme run is crazy

@DefiIgnas my portfolio only started healing once I dumped narrative governance tokens and stuck to platforms that actually distribute fees

@DefiIgnas Card programs !

@DefiIgnas PMF is bare minimum. What data they use to validate their PMF is vital.TVL and community related data doesn’t signify and some on-chain data can be engineered too… I would focus on revenue, customers on-boarded and unit economics.

@DefiIgnas Memecoins have PMF. Prediction markets have PMF. The interesting question is what happens when you combine them into a recurring competitive format. That's what we've been building on Base for the last 18 months. 🏆

@DefiIgnas o que importa mesmo é liquidez dos saques. USDT limpo em horas, não "em breve" no suporte. PMF no cassino cripto se mede assim 🎰💸

@DefiIgnas pmf is just a euphemism for revenue, what actually matters is who owns that revenue and whether it's sustainable in a bear market

@DefiIgnas Almost all those points are literally $JUP. So many people undervalue @JupiterExchange, it will blast upwards once the bull starts 🤝