In the fast-paced world of crypto, where meme tokens rise and fall like viral trends, one tweet from Mert, CEO of Helius Labs, has everyone pausing to reflect. Posted on September 22, 2025, Mert's tweet cuts straight to the chase: "in hindsight perhaps every single person on CT ruthlessly farming perps DEXes and increasing all leverage in the system by 100x was not a great idea it is most likely over forever here."

For those new to the lingo, CT stands for Crypto Twitter, the bustling online hub where traders, developers, and enthusiasts share insights—and sometimes memes. Perps DEXes, or perpetual decentralized exchanges, are platforms like those on Solana where you can trade perpetual futures contracts. These allow you to bet on the price of assets, including volatile meme tokens, with leverage—meaning you borrow funds to amplify your position. Farming here refers to grinding for rewards, often through high-volume trading to earn points or airdrops from these protocols.

Mert's point? The collective frenzy of piling on massive leverage—think 100x or more—has juiced the system to unsustainable levels. When markets turn, as they inevitably do, liquidations cascade, wiping out positions and potentially crashing prices. This isn't just theoretical; it's a pattern we've seen in crypto cycles, especially in ecosystems like Solana where meme tokens thrive on hype and speculation.

Why This Matters for Meme Token Enthusiasts

Meme tokens, those fun, community-driven coins often inspired by internet culture, are prime targets for perps trading. Platforms enable traders to go long or short on tokens like DOGE-inspired variants or the latest viral sensation, all with sky-high leverage. But as Mert hints, this "ruthless farming" inflates risk across the board. When everyone leverages up, a small dip can trigger mass liquidations, turning a minor correction into a full-blown rout.

Helius Labs, under Mert's leadership, provides essential infrastructure like RPCs and APIs for Solana developers—tools that power many of these DEXes. His perspective comes from deep in the trenches, seeing how unchecked leverage strains the network and erodes trust.

Community Reactions and Extreme Examples

The tweet sparked a flurry of responses, highlighting the divided opinions in crypto. One user quipped, "WE WILL NOT FORGET WE WILL NOT FORGIVE," capturing the bitterness of those burned by recent volatility. Another pushed back with humor: "100x? 😂 Sir we're doing 1001x now," accompanied by a screenshot of an absurdly leveraged position on ASTER Perpetual.

This image perfectly illustrates the escalation Mert warns about—traders chasing yields with leverage that borders on gambling. Others chimed in with resignation: "We never learn. We'll be back to business in a day or two," or even calls to "stick to shipping RPC," poking at Mert's day job.

Even Binance's CZ got a nod in one reply, suggesting he masterminded a "perps dex frenzy" to lure and liquidate traders—a tongue-in-cheek conspiracy that's all too relatable in crypto lore.

Lessons for Blockchain Practitioners

If Mert's right and this era is "over forever," it's a wake-up call for sustainable practices. For meme token creators and traders, focus on building real utility or community value over hype-fueled leverage plays. Tools like those from Helius Labs can help developers create more robust apps, reducing reliance on risky trading mechanics.

In the end, crypto's allure is its innovation, not endless cycles of boom and bust. By heeding warnings like Mert's, we can evolve the space into something more resilient—especially for the meme token crowd that's often at the forefront of fun, but also the front lines of risk. Keep an eye on evolving DEX protocols and always trade responsibly; after all, in blockchain, knowledge is your best leverage.