Bankless Why This Cycle is Cooked | DH + RSA
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May 9, 2024 Explore the notion that the current cryptocurrency cycle may be fundamentally flawed. Dive into the challenges of token distribution methods and their impact on market sentiment. Discover insights into declining retail participation and the regulatory hurdles influencing token strategies. Learn about innovative distribution models and the complexities of airdrops, including strategies to combat Sybil attacks. As the landscape evolves, stay tuned for emerging trends and the need for constant adaptation in the crypto space.
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Two Cycles
- There are two cycles: the token distribution meta and the bull market cycle.
- David believes the token distribution cycle, how tokens are given out, is ending, but the bull market could continue.
Structurally Bad Vibes
- Bad vibes exist in crypto because hyped tokens launch with multi-billion dollar valuations, leaving little upside for most.
- Users feel shortchanged due to opaque token distribution and predetermined allocations, despite their crucial role in protocol success.
Lost Opportunity
- Crypto historically allows online communities to get rich, fostering bonds through shared wealth growth.
- The current points and airdrop meta prevents this shared wealth creation, unlike previous cycles with projects like Link and Avalanche.