DeGods founder says tokenized pairs raise meme coin issuance costs

DeGods founder Frank said in a post on X that tokenized asset trading pairs are creating what he described as "artificial scarcity" for meme coins. His argument is that when the underlying asset is limited, launching a token tied to that asset becomes more expensive from the start. He also said these trading pairs make it harder for later entrants to displace meme coins that are already linked to the same underlying reference asset. According to Frank, that structure can reduce the PVP dynamic in which tokens priced against the same asset compete for attention and liquidity by siphoning demand from one another. He added that the main driver behind elevated valuations is not the mechanism itself. In his view, the bigger factor is the exponential growth of mobile and social trading apps. Frank also warned that social trading has not yet gone through its "growing pains," and said the outcome could look ugly once that phase arrives.