demand · Tier 2

Mindshare

Attention. Purchasable, farmable, and routinely mistaken for progress.

What it is

KOLs, Twitter, points, "the chain is so back." The tier that produces charts that go up and users who are not there.

How you’d recognise it

MAU screenshots with no cohort curve attached. Anyone showing you DAU without retention is selling you Tier 2.

Worked examples

the largest user bubble in history

Telegram's Mini Apps — the single biggest distribution pipe ever attached to crypto — peaked at 1.44 billion monthly active users in September 2024, driven by tap-to-earn games. Activity then collapsed and stabilized at 150–190 million by mid-2025. Roughly 87% of the largest user base in crypto history evaporated when the rewards stopped. The mindshare was completely real. It converted to nothing.

Mini App MAU peaked at 1.44B in September 2024confidence highsource: ton-peak-mau ↗verified 2026-07-12
Declined and stabilized at 150–190M by mid-2025confidence highsource: ton-collapse-mau ↗verified 2026-07-12

What it buys

A liquidity event. Applications to your hackathon. A nice chart for the board deck.

What it does NOT buy

Anyone who will still be here in ninety days.

Verdict

The most over-resourced tier in the industry.

high

cite thisverified 2026-07-12

“Mindshare” — The Ecosystem Tech Tree (v1.0). https://pareen.xyz/eco-techtree/tile/demand-t2. Last verified 2026-07-12.

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