The reason why no utility is simple.
When you build a billion dollar coin, small kinds of utility like "early access to new coins", "fee discount on trading" is moot.
What you really need, is an ultra-successful business (BNB, Hyperliquid), and then BID the F out of the coin.
Even @JupiterExchange's business isnt successful enough for the coin's valuation.
The answer?
Be a memecoin, until your business is successful enough to become a revenue-share coin.
Jupiter for example.
Let's just say revenues are $1M a day (high side). 50% buybacks so $500K, yearly revenue $180M.
If you value it as a cash-flow coin, 10x cashflow seems reasonable.
valuation: $1.8B
valuation when JUP started buying back: $2B+
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