Memcoins are very useful for the DEX ecosystem - expert
đ¶ 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.
"Thereâs an argument that memecoins are pure speculation, in my view speculation is good. Itâs valuable" - he added.
đ Warwick disagreed with some speakers who question the usefulness of this class of cryptocurrencies.
According to him, meme tokens bring đ°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."
âïž 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."