I deeply agree with what Ning said. Looking back at the Portfolio from the first round of ABCDE investments, the most successful ones are undoubtedly @megaeth_labs and @MerlinLayer2. MegaETH was initially chosen as one of the earliest investors because of their technology, but without the addition of the operational genius Shuyao @hotpot_dao later on, I believe MegaETH would not have the scale and recognition it has today. As for Merlin, it goes without saying that the early BTC EVM L2 was not a technology-driven race. Moreover, many people don’t know that when we talked to Jeff @BitmapTech, there was no mention of Merlin at all; we simply thought Brc420 was cool and that Jeff was a strong individual. Later, when Merlin was born, it indeed soared in TVL. Although the entire sector is currently sluggish, Merlin remains one of the projects that can still make waves. Looking back, some hardcore projects that were purely technology-focused have not performed well in terms of price or...
I had an in-depth conversation with Teacher Haotian this morning, and my assertion can be summed up in one sentence: We are now in an unprecedented era of change in the cryptocurrency industry, where the technical religious flow is sinking ⬇️, and the product operation flow is rising ⬆️. In the realm of cryptocurrency today, it is the world of exchanges, market makers, MCNs, and agencies. The good times for tech geeks and research parties are long gone. In this environment of inward competition, your growth is my decline. This is the underlying logic behind Binance's creation of the PerpDEX challenge to on-chain Binance Hyperliquid, and it is also the direct reason why Coinbase executives are probing Binance's internal address for high control of Aster. Technologies like ZK, FHE, high-performance public chains, RiscV VM, full-chain CLOB, parallel EVM, and modularization, which were once all the rage, have now become the scorned relics of tomorrow. No one is willing to spend time...
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