Unchained Uneasy Money: Hyperliquid's Dilemma After 10/10: Protect Itself or Its Users? - Ep. 954
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Nov 21, 2025 Hosts delve into the current ICO landscape, comparing it with the 2017 boom. They share tales of past struggles, including Kain's experience raising 30,000 ETH. The discussion shifts to Hyperliquid's challenges following market turmoil, weighing the balance between protecting the protocol and its traders. Emotional stories highlight the human impact of mass liquidations. Insights into investment strategies, founder mindsets, and the mechanics of modern token sales also make for an engaging conversation around crypto's evolving narrative.
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The New ICO Meta Limits Early Upside
- ICOs are back with new launchpad mechanics that change who benefits and when tokens sell out.
- High FDV sales (e.g., $2.5B) reduce the classic early-stage upside that made ICOs attractive.
Use Token Sales To Build Commitment
- Reward loyal holders with preferential access to token sales rather than giving free airdrops.
- Buying creates cost basis and investor psychology that can increase long-term holding.
Surviving A Post-ICO Cash Crunch
- Kain raised 30,000 ETH at the 2017 top and watched its USD value crater as ETH fell.
- He narrowly avoided running out of runway by cutting costs and doubling down to ship the project.