It’s mainly speculation, and I will agree that it is somewhat an ishcoin however compared to other coins out there MNDE does have utility. It is also heavily correlated to MSOL which is basically pegged to SOL. Logically someone would rather earn yield then just hold SOL, and therefore I think MNDE should also gain value as people try to access control over the treasury.
It’s mainly speculation, and I will agree that it is somewhat an ishcoin however compared to other coins out there MNDE does have utility. It is also heavily correlated to MSOL which is basically pegged to SOL. Logically someone would rather earn yield then just hold SOL, and therefore I think MNDE should also gain value as people try to access control over the treasury.