mrbaywatch

My timeline is split in two after Abstract shut down One side is calling Luca a scammer. The other is calling it bullish for Pudgy Penguins I think both are wrong Abstract sold a dream, and a lot of it did not hold up. But selling a dream is part of how most startups keep their communities invested. Overpromising is not the same as setting out to deceive. If the numbers had been there and the path forward looked good, nobody would be calling it a scam At the same time, this is not bullish for Pudgy. It is just less bearish than continuing to subsidise an unprofitable chain with no clear path to winning Abstract succeeding would have been bullish for Pudgy. And much of the Abstract community was part of the Pudgy community. Losing their trust is not bullish either A failed business is never bullish. But a right decision is still a right decision

Looking back at Abstract, there are lessons in how communication kept a community believing even as the warning signs became harder to ignore Abstract built a real community, and I understand that Igloo cannot keep subsidising an unprofitable chain indefinitely. But the communication leading up to that decision deserves some reflection Talk of a major TGE, XP and badges gave people reasons to keep showing up and spending. The ecosystem benefited from that activity while the community was still waiting for what it might lead to This is why the farmer discussion misses something. If future payouts are part of how you encourage participation, you cannot then dismiss people for expecting a return A farmer and a committed community member can be the same person. Believing in the project does not mean you stopped caring about what your time and money might lead to There is an irony in "farmers get smoked" when the people who kept believing were also the people who kept putting money in until the end Big words about the future deserve less weight than what is happening in the present, even when you like the people saying them Knowing when to move on matters more than proving how long you can keep believing

People think money in a savings account is passive because the balance appears to sit there doing nothing But the balance is not money stored in a personal vault. It is a claim the bank owes you, while your deposit becomes part of the banks funding Banks use those deposits to fund loans and investments. Keep fiat in a bank and it is already part of the funding behind businesses, homes and projects while you still have access to your money

If you want to understand why sentiment around Abstract is so negative right now you have to separate what has happened from what people think it means Team members have left, builders have moved on and liquidity is low. When these things happen together people naturally assume the project is finished The problem is we have no idea what is happening internally People leaving can mean the project is failing but it can also mean restructuring, cutting costs, replacing people or positioning differently for the next phase. Builders leaving can mean they lost conviction but it can also mean they are moving to wherever liquidity exists during a brutal market The absence of information is not confirmation of the worst outcome Crypto forgets this because sentiment moves faster than reality Today the timeline says Abstract is dead. Tmr Luca does one interview, Abstract announces a major partnership or something unexpected launches and the same timeline is suddenly filled with FOMO Nothing fundamental even needs to change overnight - only the story people are telling themselves

Its been quite a journey thx @bycoinraven @AbstractChain @Abstract_Eco

Proof of inner igloo @pudgypenguins

Diamond coming up

Ive doubled my $ABSTER bag the past week. So much fud in the feed now. If u think abstract will adopt another mascot ur going to end up disappointed. Abster is the character they created and used. They might not fully endorse the character the same way cus its linked to a memecoin they dont control. Even if pudgy becomes less associated with abstract it is still part of Igloo Inc. The character has been tied to the chain since early on and those links are permanent. The question u should ask urself is do u think liquidity comes back to Abstract? Abster is best positioned to catch some of that liquidity.

I just earned 54,449 XP on @AbstractChain! 🎉

Watching the Norway England game in a German bar and most Germans are cheering for England. WTF

Just claimed the MetaMask Penguin SBTs

another milestone @AbstractChain

proof of inner igloo @pudgypenguins

Just purchased my first big pudgy @pudgypenguins

happy sunday @pudgypenguins

I just burned my 1 Pudgy Penguins Mystery Box mysterybox.pudgypenguins.com…

I told my openclaw to sign in to my PADI and do the open water course for me

Inner igloo alpha Sundays @pudgypenguins

there we go @gigaverse

its been a fun year Check out your Abstract Wrapped recap on @AbstractChain! wrapped.abs.xyz