Memcoins are very useful for the DEX ecosystem - expert

🐶 Trading meme-coins is beneficial for decentralized exchanges (DEX) as it attracts non-traditional DeFi traders, stated Synthetix founder Kain Warwick at the MemeGlobal Sydney conference.

"There’s an argument that memecoins are pure speculation, in my view speculation is good. It’s valuable" - he added.

👌 Warwick disagreed with some speakers who question the usefulness of this class of cryptocurrencies.

According to him, meme tokens bring 💰significant volume to DEXes, enabling platforms to create "better tools":

"Even if the investment is in a purely speculative instrument that has no utility, the ecosystem around it starts to form and that money flows through and the investment flows through into infrastructure, which I think is good."

✔️ Warwick further noted that meme tokens, NFTs, and GameFi "engage more emotions and cultural ideas, which are much more interesting, understandable, and accessible to the average person than DeFi."

#Memecoins