Fascinating to see the good-old-reflexivity loop on Megaeth: Airdrop starts → USDM supply grows → future buybacks pump MEGA → MEGA up boosts airdrop value → NFT pumps for airdrop allo/ecosystem proxy trade → capital flows in to farm → USDM grows again. Not in this exact order but each metric pumps the next. Aave-Ethena loop farm will soon launch (I guess LPs are getting ready by depositing USDM to Aave now) As much as I love airdrop plays, at the end, make sure not to be farmed yourself. Airdrop supply of 2.5% isn't as large as airdrops in the past so current metrics pumping reflect that. The reflexivity loop will either be enhanced or suppressed depending on how MEGA trades post TGE.(Ignas | DeFi)