Smart contract developer (EVM) Learn Web3 for FREE
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onArc is officially LIVE on Arc Mainnet.
We started with an idea.
Two days later, we're here.
@onARCdotfun is now live on mainnet.
Launch tokens.
Trade on the curve.
Earn rewards.
And help us build a launchpad where trading fees can go back to the people who generate them.
This is only the beginning.
IMPORTANT WARNING:
There is NO official ONARC token.
Any token, ticker, contract address, airdrop or presale claiming to be the official onArc token is NOT affiliated with us.
For the only official onArc launchpad, use:
→ onArc.fun
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I want this type of downfall so badly in my life.
The downfall of Bags explained:
2021: the beginning
- Finn co-founds DeGods
- becomes one of the biggest NFT projects on Solana
September 2022:
- Finn launches finnbags
- starts building Bags as a social app for trading memecoins
August 2023:
- leaves DeGods
- continues building Bags independently
January 2025: Bags
- mobile app launches
- Apple Pay purchases
- token group chats
- social login
- reportedly processes $1B in volume in 10 days
August 2025: creator royalties
- anyone can launch a token around basically any creator
- 1% trading royalties can be assigned to their X account
- the creator doesn’t need to launch the token themselves
Nyan Cat creator Chris Torres discovers the model and claims 4,000 SOL ($706K in fees)
publicly says this does NOT mean he endorses the tokens
Then Bags explodes.
August 9:
- $110M daily volume
- 23.5% market share
- overtakes LetsBonk
- #2 Solana launchpad behind Pump
December 2025:
Bags is barely generating attention compared with its August peak.
January 2026: AI developers
Steve Yegge receives a LinkedIn message saying he has $49K waiting for him
Someone launched GAS around his Gas Town project and the trading fees are real.
January 16:
For a moment Bags is basically matching Pump again
Steve Yegge receives $270K in fees
Then one day later he says he’s going back to coding and leaves Crypto Twitter.
Finn says Bags will build an onchain verification system showing creator history and previous rugs.
But the entire meta is already collapsing.
March:
launches a global hackathon
$4M developer fund
$1M direct funding
$3M reserved for continued support
May 22: GSD Cloud
- GSD Cloud had won #1 in the Bags hackathon
- project had been promoted and funded through the Bags ecosystem
- founder deletes his X account
- says Claude and Codex made the project obsolete
- $500K is estimated to have been extracted from the $GSD ecosystem
September 9:
Finn says Bags is approaching feature parity across chains
September 15:
launches a stocks tab using OpenStocks
Finn posts “We are so back”
$PAID launches.
A new project using the creator-fee idea Bags helped popularize
except it uses Pumpfun and Pons and sends the money directly through X Money.
Bags is still operating today, the meta simply stopped belonging to Bags.
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Hot Take:
Top university students in the world hate BITCOIN and Blockchain Technology
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Sorry to say,
Lazarus Group might be the hardest working security researchers in Web3.
Other security auditors charge $70K+ to find vulnerabilities.
Lazarus finds them for free by compromising the people, keys, multisigs and interfaces around the contracts.
Their Resume:
• Bybit: $1.5B
• Drift: $285M
• Bitget: $350M
• WazirX: $235M
• KelpDAO: $292M
• Ronin Bridge: $625M
• DMM Bitcoin: $308M
And many more.
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I told you CEXs are dying:
Bitget got hacked for $300 million+.
Binance spot listed $HYPE, their biggest competitor.
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Worst year for CEXs (shutdown):
- EXMO
- CoinEx
- Knaken
- BitMEX
- BitMart
- Bit. com
- AscendEX
- Zondacrypto
Best Year for DEXes:
→ Hyperliquid: #1 perp DEX
→ Uniswap: $70B+ spot volume
→ Lighter: Fast-growing perp DEX
→ Polymarket: Prediction markets went mainstream
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Finally, CEXs are dying.
Finally, retail is coming back.
Finally, airdrop szn is coming.
Finally, people are building again.
Finally, no one cares about Binance spot listings.
Finally, founders understand they don’t need to give 10% to Binance for a listing.
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orangie
Weirdest Bull Market:
No TGE
No Jobs
No Airdrops
No narratives
No new users
No easy money
No one is building
No new opportunities
No one knows what’s happening
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Anyone remember 2025:
Projects kept postponing their TGE because of the bear market
Everyone was waiting for the market to recover
Now it feels even worse
We're not even getting TGE and Airdrop announcements anymore 😭
But the market is good
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The Downfall of IcoBeast:
- quit law and entered crypto
- became a major InfoFi / airdrop account
- made $100K+ from social rewards and airdrops
- his history in Ordinals was already controversial
- community members accused him of aggressive FUD and unpopular takes
- he was also remembered as a major promoter of @ InkOnBTC, a project that later flopped
2025:
- joined Kalshi in 2025
- helped build its crypto markets
- posted massive Kalshi volume numbers
Nov 2025:
- his ~$1M MegaETH allocation was revoked
after he publicly discussed hedging it
= the same crypto community that saw him as an InfoFi grinder turned on him
Sept 2026:
defended Kalshi’s crypto volumea former quant fired back
~$539M ETH-PERP volume vs ~$3.1M open interest
- repeated ~$5,500 trades became the focus
accusations of fake/wash volume exploded
- IcoBeast disputed the claims
said prediction markets and perps were being mixed up
- no regulator or court has established that Kalshi fabricated trades
- but the numbers triggered a much bigger question
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Wash trading is everywhere, with big exchanges also doing this.
Open your eyes.
They’re literally killing the crypto.
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Study Jeff Yan:
> physics olympiad gold medalist at 18
> Harvard math and CS grad
> ran anon Chameleon Trading solo from Puerto Rico later a small team
> started with $10K
> generated thousands of % in returns
> shut it down at 27 to build what he thought should exist
> launched Hyperliquid in 2023
> ~11-15 person team
> self funded from day one
> turned down $100M+ in funding
> generated ~$900M in profit last year
> airdropped billions to users
> ~$82M+ profit per employee , $900M / 11 ≈ $81.8M
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