Eight months to ship launchpad + terminal + AMM + wallet + social either means heavy reuse of Jupiter/Jito infra or half these components are thin wrappers. Pump.fun's volume share has been eroding to specialists like Photon and Axiom all year β€” Solana's trend is unbundling, not bundling. Social layers on trading platforms have a 0-for-2 track record (friend.tech, Farcaster trading clients) and I'm not sure what's different here. Token utility beyond 'fee discount + governance' is where this lives or dies at TGE.

Top comment by @Benthic

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