jakiro
Author: ignas Translation: Shan Oppa, Bitchain Vision
Time is coming to 2032:
You woke up at the Four Seasons Hotel and felt a little tired.Two glasses of Negroni last night were still in the mind.A notification pops up on your phone: You check your Rabby wallet on your iPhone 23 XXL.Bitcoin fell 3% overnight.It was the panic caused by Saylor’s strategy again.
Even so, though, the price of Bitcoin is still as high as $1.2 million.You smiled—that lunatic Udi is right!You have long been “retired” the financial burden of the entire family – although you entered the market at $114,000, you used 3 times the leverage and successfully got on the car with Hyperliquid.Although Cobie’s predictions are slightly biased: the real hard part is the stage from 80,000 to 250,000, and 250,000 to 1 million is the “easy road”.
The bull market from 2024 to 2029 is indeed unusual – that year, the four-year cycle was over, and your three-fold leverage trade was miraculously not liquidated.Thanks to Trump’s third term, the United States successfully held 5% of the world’s Bitcoin reserves.
A hint of regret appeared in your heart: if you hadn’t replaced some ETH with private equity in OpenAI and SpaceX at the beginning, you should have more assets now.Unfortunately, neither of these companies ended up going public, but directly implemented tokenization on NASDAQ’s Ethereum Layer 2 network.
Still, those tokenized equity play a huge role as collateral assets on Aave and Fluid.
Your mind begins to describe a bigger dream:
The Monad mainnet is about to be launched, and the airdrop of the test network is about to come.Once the money is received, you will purchase a second property in Antigua and Barbuda and apply for a passport.By the time the EU begins implementing a 50% “crypto solidarity tax” next year, you will be free to move.
However, your friends are not that lucky.
They believed in the advice of the Financial Times and BBC experts and invested their funds in annualized 4% of EU defense bonds and held EUR-CBDC just to save the down payment to buy a one-bedroom apartment.Now that inflation is as high as 8%, even if you receive 2,500 euros of national basic income per month, this goal is becoming increasingly out of reach.
You feel sad, but you have a clear conscience: You have advised them to invest in cryptocurrencies, but they didn’t listen.
To calm down, you start dressing and brushing your teeth.Open the X app – a prompt popped up: “Please use a government-issued ID card to verify your age before logging in.”
Oops, VPN is off again.You quickly switched your IP to Afghanistan, turned on X again, and finally logged in successfully.Visiting friends in the UK always makes people feel particularly different.It’s time to “work” and then take the plane home.
Cryptocurrency sales dream
The most powerful selling point in the crypto world is that it can inspire people’s dream of a better and more affluent life.
The power of this information is particularly prominent in the current geopolitical and economic environment – people are worried about bills, unable to find a job, and privacy is constantly being eroded (such as the UK’s Cybersecurity Act).When you open the news, browse TikTok, and go to Instagram, the information flow is filled with powerlessness and despair.
But the vibe on Crypto Twitter is completely different.Cryptocurrencies and Bitcoin are seen as keys to solving financial difficulties.This is why in the beginning story of 2032, I specifically mentioned the dilemma of your friends who did not buy cryptocurrencies.
Coinbase understands this, and they do a very good job of spreading it.
Their “everything is OK” ad, which satirized the status quo of the UK, made me laugh, but they were not wrong.
I love cryptocurrency because it is a way to make peopleDare to dreamplace.But because of this, crypto-doubted people don’t like us.
They don’t believe our stories and think these dreams are unrealistic and too far away.Can blockchain change society?In their eyes, this is just a “high-end spreadsheet”.
But as Nat Friedman put it: “Pessimism sounds smart, optimism makes money.”
The reason why cryptocurrencies can inspire big dreams is because they do not set thresholds or permits.This is also why scammers are keen on this industry – they sell fantasies under the banner of “a richer life” but end up ruining reality.
But I’m not a liar.Nor are you.
We are truly convinced that cryptocurrencies can have a positive impact on people’s lives and society as a whole:
1) It strengthens the protection of personal property,
2) It provides guarantees for freedom and privacy in finance and the Internet.
Although the crypto industry has achieved great success in just a few years, I feel that many people in the crypto world are forgetting howHave a great dream.
We all forgot how we dreamed
Once upon a time, our grand dreams attracted countless retail investors to flock to this industry.But now, why are there still new retail investors willing to buy ETH?If even the most senior crypto users are still using the target price of $10,000 in the last bull market?
ETH has made such great progress in recent years: spot ETFs have been approved, traditional financial acceptance, stablecoin ecosystem has grown, regulatory advancement, real asset tokenization (RWA), Robinhood has launched the L2 network…
As a result, all this only brings an increase of 2 to 3 times?
Perhaps, we are too eager to be “recognized by the mainstream”.So when traditional finance joined, the stories of “Rambo Sports Car” and “Sky Sky” faded out of the crypto-narration.
Today, only those “stupid coins” (XRP, ADA, etc.) and Bitcoin can still arouse people’s dreams.At least BTC is still drawing a blueprint for the future of “to million dollars.”
And ETH and most altcoins are no longer discussedBig dreamNow.But ETH still has hope to regain her dreams.
For years, the Ethereum community has been promoting the narrative of “supersonic currency”.But with the successful expansion of the network and the reduction of Gas costs, this deflationary narrative has also been shattered.The technical team and marketing team were ultimately unable to move forward simultaneously.Now, the narrative is back to the basics: institutional adoption, stablecoins, real-world assets (RWA).
Although none of these are new concepts, the ones tell these stories this time are louder and more credible voices, such as Thomas Lee and Joseph Lubin.
Whoever tells this story is as important as the story itself.More and more listed companies are also a driving factor in including ETH on their balance sheets.This gives investors who are still waiting and watching more confidence.Even bears are beginning to admit that this strategy is working.
But what if all efforts are ultimately just to get ETH to the target price of $10,000?
That ETH needs an updateSexy, more room for imaginationThe story – a reason why people are willing to hold ETH for a long time.
BTC is digital gold.So what is ETH?Digital oil?I believe that new story will eventually appear.I’m still bullish on ETH.
Let’s take a look at Solana.
In 2024, Solana brought the story of “grassroots counterattack” through memecoin, and it was once in a glorious moment.But as most meme investors lose money, Solana’s attractiveness with $SOL has also declined.$SOL is neither a traditional financial chain like ETH nor a stored value attribute like BTC.When people lose money one after another on memecoin, this story no longer makes people feel excited.
How to reignite people’s dreams?
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“When I buy a token, I want to have big dreams.”
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Yet today, most projects focus only on promoting technical features, rather than portraying their grand vision.
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“The true meaning of tokens is to bring dreams to the community.” ——DefiIgnas (Published on X)
Looking back, it’s amazingA oracle protocol, ChainLink’s $LINK, can actually make us all have great dreams.
I once said to myself:“LINK is the most equal-spirited thing we’ve ever seen. It’s ambitions, ifSuccess is enough to reshape the entire social structure.”
Or take a look at Compound’s COMP.What’s so exciting about a lending agreement?A DEX aggregator?A cross-chain infrastructure?So what?
These tokens were once exciting because they did not exist in isolation, but belonged to a larger movement.Decentralized Finance (DeFi).”Be your own bank”, if you don’t like the direction of the team, you can vote in DAO with the governance tokens in your hands – you can influence the future!
At that time, it was really a sense of revolution.
But now,People no longer believe in DAO.DeFi tokens have become an investment asset, only looking at revenue and fee returns, completely losing the narrative sexiness.
When LINK, COMP, UNI, YFI and other projects were released, they were the pioneers of the entire market, the pioneers of DeFi and the first batch of trendsetters.They represent an unprecedented innovation.
But now, there is a new DEX, a new lending agreement, a new oracle or infrastructure project that emerges—it is hard to stimulate people’s imagination any more.Is this the price that encryption is paying for asset classes in gradually “mature”?Now, most new projects or TGE announcements on the X platform have little excitement.Because these projects are either just marginal upgrades to existing giants, or they are just founders and VCs who want to quickly cash out their money by issuing coins.Personal “big dream”, not serving the community.
My advice to the founders of the project is: invest time and money to create a coherent story and convey big dreams through storytelling.Marketing isn’t just about posting paid tech posts on X, a nice UI interface, and posting some memes through social media managers.
It’s really hard, but it will make you stand out.
Investors seek support from their lofty dreams.However, those who peddled big dreams often lack the support of technological innovation or are purely liars.
That being said, here are some projects that do a great job selling Big Dreams (but not necessarily the best ones).
Projects and tokens that are good at “selling big dreams”
SPX6900
To be honest, I’m still not sure what this token is for.It looks just a meme, right?But Murad is a master of storytelling, and the token has risen by about15,000%.
His post caption on X was: “150 reasons why the SPX6900 will have a market value of $1 trillion.”
You know, this is twice the current market value of Ethereum!Outrageous?absurd?Maybe, but who cares?The key is that he makes people in the communityDare to dream.
Murad’s narrative also starts from that old contrast:If you don’t invest in encryption, AI will replace your job, and you will be doomed to fail..You may think this sounds like a pyramid scheme, but he is indeed taking these coins to death, unlike those project parties who smash the market after issuing it.Many crypto founders should learn from him.
(Disclaimer: I do not own SPX6900 myself.)
Pudgy Penguins
Fat Penguin is my favorite crypto brand, no doubt about it.
It’s hard not to like it: cute, pricey ($2000 when I bought NFT), and its mission isSpreading positive energy in the meta-universe.The total number of views on social media has reached billions of times, and Fat Penguin is currentlyThe most opportunity to become a representative of the external image of the crypto industryproject.More importantly,$PENGU is the only top memecoin native to Web3, unlike DOGE, PEPE, SHIBA, which are borrowed from Web2 culture.So, Fat Penguin is actually a public relations representative of our entire industry, helping to fix the public’s negative perception of encryption.
Worldcoin
You can dislike their uncomfortable AI iris scan ball, or its highly concentrated token model, but there is one thing you can’t deny:Their ambitions.
Worldcoin’s mission is to build a global identity and financial network.Distinguish humans from AI and drive global economic participation.Isn’t this exactly one of the core missions of encryption?
Farcaster
Farcaster’s X introduction is probably the most “unambition-free” sentence you can see in the crypto industry as a whole: “A social network that is decentralized enough.”
“Decentralized enough” sounds mediocre.But in fact, Farcaster is quietly doing a big thing.It is building an open social network – as useful as X, but resistant to censorship, users really own.Instead of putting everything on the chain to sacrifice user experience, it accuratelyOnly decentralize key parts: Username, message content, network read and write permissions.
This is enough to guarantee freedom while avoiding all kinds of troubles caused by fully rolling on the chain.Anyone can develop new applications based on it, and no one can “ban” you.Yes, some front-end UIs may block you, but you canChange the platform at any time and continue to speak out.Base integrates it natively into the new app and has proven that the Farcaster method works.Can’t wait to see it send coins.
Hyperliquid
There is no need to say more about this.
But to be honest, I wasn’t a true believer before OKX and Binance joined forces to suppress Hyperliquid.
now,HYPE is no longer just a transaction agreement, but a decentralized transaction movement: All transactions must be transferred from centralized exchanges (CEX) to on-chain (DEX).
Beyond Binance.Isn’t this ambition big enough?Isn’t this enough to make you dream?Currently, HL is already very strong in the perpetual contract market, and I believe it will also dominate the spot market in the future.Hyperliquid, writing a new story.
Polymarket
In this era, the cost of creating false information and spreading fake news is extremely low – almost effortless.But to answer questions like “Can vaccines cause autism?” requires billions of dollars in research funding and a long investment.
The truth is very expensive.
And in this world full of fake news and AI spam, it is more valuable than ever to really understand “what happened”.Polymarket has proven its value—more accurate than traditional media in predicting the outcome of the U.S. election.That’s why Polymarket is one of the protocols that make me dare to dream.Looking forward to their airdrops coming soon.
Liquity
Since the Terra collapse, most people have given up hopes of building a “true decentralized stablecoin”.Maker turned to traditional finance and RWA.Even Rai, the illegal currency stablecoin project that Vitalik once vigorously promoted, has changed direction.
And Liquity may be our last chance – to achieve itA truly decentralized and minimally governed stablecoin system.Although Liquity V2 is developing slowly, TVL is only about $136 million, and LQTY’s market value is less than $100 million.From the perspective of user adoption, it still has a long way to go.But their ambitions are admirable.
The crypto world will one day need a decentralized stablecoin again.Liquity, maybe that answer.
Fluid
I know I’m their brand ambassador, but that’s precisely because Fluid is the only project I’m willing to be involved in in person.When they declare their goal isBeyond Uniswap in trading volume——I was shocked even though I was a loan agreement.But at the same time, it was also deeply inspired.And they really did: One day, Fluid’s transaction volume on EthereumFast surpassing Uniswap.
With the launch of Fluid DEX Lite, my goal for their trading volume, lending TVL, and FLUID token prices is “take off”.
Improve your goals
The pinnacle of the cryptocurrency dream was in the 2017/18 cycle.
At that time, every token was in his armsGrand Vision: Blockchain versions of Uber, Airbnb, Internet of Things (IOTA), supply chain management (VeChain), decentralized advertising market (Brave), decentralized banking (Bankera), etc.But at that time, all this was only at the white paper stage – without real technical support.
2020/21 is different: DeFi and the ideal of self-governance are supported by smart contracts and real and available dApps.However, DAO governance and real decentralization on the chain have not yet been implemented: DeFi has finally become a financial system on the chain.
By this cycle, the focus of the market has becomeExternal impetus: ETF, Real Asset Tokenization (RWA), Compliance Supervision.So, weThe dreams within the industry are getting smaller and smaller, and the price targets are getting more and more conservative——Although there have been constant benefits in recent years.
We are at the crossroads of encrypted mass popularity, but many people are reluctant to dream bigger.All your target prices are set too low.NVDIA alone has a market value that exceeds the total market value of the entire cryptocurrency market.And over the past few years, NVDIA’s stock price has risen604%.
Today, encryption is crossing the “Rubicon River”: pro-crypto regulatory policies are implemented, and traditional finance has joined the track.It’s time to dream bigger and increase your target price——Advance several times!
