raised $600M in 12 minutes at a $4B FDV. One of the fastest, cleanest token launches I’ve seen. At @caladanxyz , we participated. But I would’ve been interested either way. Why? Because it hits at everything I care about as an investor: → Real revenue ($519M LTM) → Clear product-market fit (>11M tokens launched, 70%+ market share on @solana) → Simple, aligned tokenomics (25% of fees to holders, no early discounts) → Cultural presence that actually matters in crypto I’ve spent my career looking for asymmetric setups with actual cash flow and reflexivity. @pumpdotfun prices the ICO token at ~7.7× LTM revenue, versus 50-100x for other revenue-generating crypto projects, and it’s growing. Fast. People fixate on ICO allocations or token unlocks. I look at whether users come back, whether capital compounds, and whether the market is mispricing fundamentals. All three are true here. It's not just a meme. It's a business. A profitable, category-defining one.