$UNI's business model is wild when you think about it.
Billions sitting in pools. None of it actually theirs. No contracts. No begging LPs to stay. Few clicks onchain and liquidity walks.
Yet after all these years, still the biggest DEX.
Used to think moats were tech, capital, licenses. Then realized there's something more brutal: no locks, no chains. Everyone can leave. They just don't bother.
$SUSHI already proved you can fork the code and drain liquidity overnight.
So $UNI's real fear isn't a better Uniswap appearing. It's the day when moving becomes more profitable than staying.
That's the killswitch.
Billions sitting in pools. None of it actually theirs. No contracts. No begging LPs to stay. Few clicks onchain and liquidity walks.
Yet after all these years, still the biggest DEX.
Used to think moats were tech, capital, licenses. Then realized there's something more brutal: no locks, no chains. Everyone can leave. They just don't bother.
$SUSHI already proved you can fork the code and drain liquidity overnight.
So $UNI's real fear isn't a better Uniswap appearing. It's the day when moving becomes more profitable than staying.
That's the killswitch.
