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Author: Mark Source: Mirror Translation: Shan Ouba, Bit Chain Vision Realm
There is an old saying in the venture capital industry: “The first founder focuses on the product, and the second founder focuses on distribution.”This describes that product builders usually expect them to rely on product quality to achieve growth, rather than helping them to attract attention and users’ attention to their products by investing energy to create repeated models.
However, I believe that many cryptocurrency founders lack another element, that is, tokens.The founder of cryptocurrencies has long been overestimated the listing of its products and underestimated its token listing.When I say “tokens are products”, I am not joking -I actually believe that for anyone who tries to establish valuable companies in the encryption field, your primary goal should be for your tokens for your tokensAttracting permanent attention and liquidity is to sell it to anyone who is willing to hold it for a long time.
Anyone with eyes can see that the main case of blockchain so far is the purchase, transfer and sales of tokens.Some applications add additional steps or metadata to these interactions to help users build complex methods and use their tokens to create value for themselves.But everything we have done in the encryption field, every link we skip, and every seed word we write is finally for an interaction. This interaction begins with the purchase of some token ecosystems.
Although a few successful encryption projects have achieved extensive and persistent distribution of software without the help of tokens, they exist as abnormal values.If you want to prepare a list of encrypted products or protocols with more than 100,000 monthly active users, you will notice most of them have already owned tokens or have clearly planned to finally launch tokens.The encrypted market provides users with higher efficiency and fairness. Therefore, it is extremely difficult to establish sustainable competitive advantages for new entrants trying to lower profits.
UNISWAP is an example. With strong brands and high -quality technology, it can maintain the domineering position for many years.Even if they are eventually forced to add tokens as a response to competitors such as Sushi, these competitors are not only the value of the product provided by the tokens to users.Examples like this are why I believe that within a long enough range, any successful encryption products that do not launch tokens will eventually lose their profits, and/or or will be launched to the competitors and will build token competitors.beatEssenceBring a stronger long -lasting network effect to yourself and the community.
This may eventually apply to companies other than cryptocurrencies to deal with the increasingly efficient market promoted by the spread of the Internet and artificial intelligence.It is worth noting that this is closely related to the current operation of airlines in the real world -because their operating profit margins are extremely low, and most of their values come from the loyalty plan.Da Mei Airlines’s main products are no longer a flight; this is Dami points.
Looking back on cryptocurrencies, the evidence seems to be able to build a very successful encryption project through the following ways:
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Attract the attention and capital of yourself (and your token) in a continuous way, and
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Transform the flow of flow into products that are valuable to users.
Sun Yuchen and TRON networks are the best evidence that successful encryption products can be built in this specific order -although people have cast various shadows on their funny behavior over the years, it is difficult to leave the real practicality provided by the networkDeep impression (as a behemoth in the stable currency payment ecosystem).He has proved that he is very capable of attracting people’s attention to himself and transformed it into a real network that has created value for millions of people.Evidence clearly shows that tokens can act as their own self -realization prophecy, and the price increase can occur before the value creation itself.This is the opposite of the construction/valuation method of traditional companies. This is why cryptocurrencies are still crying for anyone who is not used to such a new paradigm.
When any asset price is soaring, people pay more attention to it -this is the case for cryptocurrencies and any other assets.However, encrypted assets seem to be particularly good at transforming the increase in increased attention into an increase in value in the basis of the network.This is because the encrypted network is welcome to join their community. No matter what their professional background, traditional organizations are sparse wall gardens at the entrance.Few non -encrypted currency organizations are set up to use a lot of attention that may get during reflective price behaviors.Therefore, we need to evaluate encrypted assets based on the current and future value of the network being created, but we also need to consider the impact of subsequent liquidity flow on the future trajectory of the network.
People enter this ecosystem to make money through this novel business model. This model provides rich returns to those who can predict future liquidity and value creation as soon as possible.The best founder in the encryption field did not see this fact, but found a method to weapon this inherent wish to establish a valuable network so that participants can make money through the existence of the Internet.
A typical example is the Helium network -they can attract sufficient liquidity to their ecosystems (through their HNT tokens), buy mining machines for selfish strangers and start to earn stable profits for themselvesIncentives.Through the power of token liquidity, they can guide their networks with enough miners to occupy the old mobile broadband market.Coordinating nearly 400,000 users Without the help of deep liquidity, joining such a network will be a difficult task, and deep liquidity provides a useful measurement in the early fluctuations of any multilateral market development.In this way, the first and most important product that Helium needs to be sold is their tokens -without it, no matter how impressive their hardware or software, they can not attract and maintain enough attention to achieve enough attention to achieve to achieve to achieve to achieve to achieve to achieve to achieve to achieve to achieve to achieve to achieve to achieve to achieve to achieve to achieve to achieve to achieve to achieve to achieve to achieve to achieve to achieve to achieve to achieve to achieve to achieve to achieve to achieve to achieve to achieve to achieve to achieve to achieve to achieve to achieve to achieve to achieve to achieve to achieve to achieve itThe necessary critical quality.Challenge large enterprises.
In the tokenized products like Helium, the price of tokens is to measure the minimum centers of the inflow/outflow of the given ecosystem.When the price of contemporary currency fell, the miners would lose, not only because of their economy, but also the public psychology that existed because of concern -if I saw that everyone else left the party, I would also be more likely to leave.
In this way, attracting liquidity is not a one -time thing, and it is only important in the early stage -it is still a prerequisite for the continuous existence of the entire network, although this becomes the moreThe more it doesn’t matter.Go to the network.Being able to attract continuous liquidity to your project is not a trivial task-the pressure it brings to the founding team of cryptocurrency reflects the hard experience of being a creator on a large social platform.It may also be catastrophic for your growth.
Nevertheless, there are still some cryptocurrencies founders who are both excellent technical experts and terrible cause of the lords. They keenly understand how to flow, and how to control these waves, and constantly bring value to the ecosystem of value.EssenceThey have always fulfilled the promises made by community members to create a positive feedback cycle of self -enhancement, and continuously promote product innovation to maintain the long -term vision of users (token holders) to identify with the community.project.
In fact, the art that attracts liquidity usually has many forms -for most founders, this process first raises some small seed capital from friends and family members, and then raise more funds from institutional investors (clearOr implicitly mention future tokens), and then use other pre -issued token transactions, releases itself, distribute tokens to bounty activities, cooperate with exchanges to provide liquidity activities to tokens, andCountless other marketing techniques to improve the image of the project in the field of cryptocurrency.The important thing is that they cooperate with more and more wide people. These people believe in their mission and join their community to help achieve this goal -because of their inherent faith in existing networks, they are motivated to do it for itContributions, and tokens that provide rich rewards in the early days.In the ideal world, the person you sell token should be the first batch of people who really use the Internet itself, or at least to propagate it to the audience.
In the end, most arts are attributed to simple mathematics that sells tokens to as many new buyers as possible, and at the same time, everything may prevent existing token holders from dumping their tokens.Sometimes this is achieved by locking tokens around investment or pledged tokens, and sometimes through the cause.No matter how they do it, the best token community is good at playing unlimited games in confrontation games. In this game, strangers coordinate when the tokens are in trouble to keep the game continuing (that is, dumping at the tokens dumping dumpingThe bid), although finally competing with each other later withdrawn from a higher price.The founders in these ecosystems are often superb personal individuals. They have gained enough freedom and do not need to be taken seriously.
Tokens is an extremely powerful coordination tool. In the next ten years, we will see the explosive growth of the tokens, which will seriously challenge those institutions that still have huge power in our lives today.The tokens can also allow companies in the commercial market to accumulate attention and good consumption willingness during the fierce competition period, thereby avoiding them completely losing the moat.This provides huge opportunities for the founders of the proficient technology and creative pursuits (software and causes). They have enough courage to compete with large existing organizations, and have courage to inevitably have unavoidable liquid drought.Essence
In fact, this script has become so clear and easy to understand, which means that the practical token network will continue to attract a large number of early investment capital. These capitals come from investors. They see that they are betting on the founder as soon as possible and correctly.Get potential income.It is studying the appropriate cause.As the market matures, I also expect that the competition of liquidity attention will become more intense (as we have seen in the block space practical token market).
Nevertheless, our Boost is still excited about the tokenized network on the road. We think that the latest progress of wallets and ZK technology, coupled with ubiquitous security block space, created a perfect formula for the new application group for the new application groupEssenceUsers join cryptocurrencies.
