3,3 Is Back - Game Theory And M3M3

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I know, a lot of numbers but I hope I can explain and unravel this obscure title a little bit in the following article.

I first learned about Game Theory from an animated YouTube video in which three guys were questioned by the police about a robbery. The three men had done it but now it was time to find out if they would go to jail or would they walk. I'm taking a risk here and explaining how I understood game theory in this context and writing it down from my memory.

So, the police would promise each of them that they'd walk free if they would rat out the other ones. However, if they should stick to their story, they would all stay free as the police have no evidence against them. Basically, it's about sticking to the plan and putting the common good ahead of personal gain which will then lead to a personal win as well.

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Game Theory In DeFi

How does this apply to 3,3 staking schemes then?

Staking platforms have adopted the idea described above and use it with their liquidity pools. Rewards will grow, or at least the APY won't drop so fast, as long as new users join and stick to the plan, and hold their assets in pools.

However, constant growth is necessary for it to remain sustainable and if users start folding, it's likely that the whole structure comes down like a house of cards.

Back in 2021, I was staking with a couple of 3,3 systems and it's interesting how similar it is to the 'police questioning the robbers' -example. In the chat rooms, everyone is bullish, tapping each other on the shoulders and promising not to withdraw their assets but instead, add more.

Still, when it's bear market time or some extreme, negative global event, someone is withdrawing their assets and this is usually the beginning of the end.

I also remember when the project owners were asked about how is this different from the already crashed ones, and they talked about revolutionary tokenomics and how they make it impossible for this project to fail. Usually, during the time they gave the speech, someone had already been "talking to cops"...

Could 3,3 however work in different circumstances? With some fresh ideas added to the mix?

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M3M3

Now, it seems the 3,3 is making a comeback amid the bull market, like it or not. One of the newly launched projects I find somewhat intriguing is called M3M3. The name itself is quite genius as the '3,3' is incorporated into the name 'meme'. Small things but little details like these can go a long way in the memecoin culture and basically, M3M3 is a memecoin with utility.

Just recently the M3M3 token was launched on Meteora's launchpad also named M3M3. Meteora on the other hand is a DEX on Solana offering ways to earn yield from the liquidity pools on your staked assets.

So what's the idea behind it? Perhaps this quote from the M3M3 official website can explain:

M3M3, also known as meme (3,3), introduces a revolutionary stake-to-earn mechanism. Stakers earn non-inflationary rewards, starting with fees generated from permanently-locked liquidity and expanding into valuable rewards through exclusive partnerships.

Well, I think I've heard something like that before but let's dig deeper.

Also, according to the website, their mission is to "create a thriving community that embodies the 3,3 meta — a philosophy where cooperation and mutual support drive collective value and the best outcomes for all." Yes, there's the game theory part.

An interesting aspect of staking rewards is that only the top 999 users will earn real-time rewards paid in $SOL & $M3M3. If a user falls out of the top 999, the rewards will stop. Also, as some of the rewards are paid in $M3M3, it would make sense to stake the rewards to stay in "the game". This, if anything, should increase competition and that way increase demand for $M3M3 as well. It seems that if you are in that top group, you probably want to stay there too because the rewards are pretty good.

To make it even more interesting, and fairer, all stakers will enjoy future benefits such as airdrops. They are calling it "the new 3,3 meta" but could it also be a new airdrop meta?

Meteora is a pretty big name in Solana defi and their new launchpad should get some attention so I'm expecting the projects launching there will likely reward early stakers. Probably even the small fish.

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Final Thoughts

I'm still thinking about my approach and strategy here.

During the previous 3,3 craze, I was staking on Olympus DAO(OHM) and Goblin which was on smartBCH which crashed because the whole smartBCH ended up in serious trouble. All in all, I probably lost money with both of these so not very keen on the 3,3 idea.

However, the memecoin sector and culture is strong and might surprise everyone during this cycle. This combined with staking rewards and possible airdrop promise could create some huge demand for M3M3.

Therefore one play could be simply acquiring the token and holding it. Sell on top.

The market dip we're experiencing by the time of writing this is a good opportunity to get into interesting projects. Unfortunately, newly launched coins that are still in the fresh hype phase don't necessarily experience major drops during these times and the $M3M3 price has remained relatively stable.

Breaching into the top 999 staker list would be really tough as well at this point. Still, staking with a smaller amount for future airdrops could be a solid option as this could become an alternative for Jupiter on the Solona ecosystem.

Choices, choices...but no matter what, I'm keeping this one on my radar.

What do you think about M3M3 and the whole comeback of 3,3? 👍 or 👎? Drop a comment below and thank you for reading!

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DISCLAIMERS:

This is NOT financial advice.
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