ICOs didn’t die. They just split into layers. The same dream, open fundraising for everyone has evolved into structured systems like Kaito, Echo, and MetaDAO. A thread 🧵👇

1/ In 2017, one contract did everything. Raise → Mint → Dump → Pray. No rules. No compliance. No liquidity plan. Now each function has its own layer: • Kaito = attention & access • Echo = infrastructure & execution • MetaDAO = liquidity & stability

2/ Layer 1: Attention → Kaito Capital Launchpad 12 projects launched in 3 months. Allocation based on reputation, engagement, and contribution not speed or bots. It filters noise and routes social signal into vetted token launches.

3/ Layer 2: Infrastructure → Echo (acquired by Coinbase for $375M) Echo gives projects the rails to run compliant public sales. Builders pick their own format: fixed, auction, or vault across Solana, Base, Ethereum, and Cardano.

5/ Together, these layers rebuilt the ICO dream: → Kaito structures who gets in. → Echo structures how it happens. → MetaDAO structures what happens next. ICOs didn’t vanish. They fragmented and got smarter.

6/ This is the new on-chain capital stack: Social → Infrastructure → Liquidity - Attention turns into allocation. - Allocation turns into compliant fundraising. - Fundraising turns into sustained liquidity. It’s not speculation anymore It’s architecture.