Chainfeeds Introduction:
Recently, there have been many voices of disappointment in the Ethereum ecosystem in the industry community. The root cause may be dissatisfaction with the overall poor performance of Altcoin. 0xCousin, investment director of IOBC Capital, analyzed several factors that caused this phenomenon and proposed that the hope of breaking through may lie in the application layer.
Source:
https://mp.weixin.qq.com/s/pPJci3Mc4MafPMO51F02NQ
Article author:
0xCousin
Viewpoint:
0xCousin: 1. DeFi: The protocol itself has long-term value, and the governance token does not capture value. DeFi is one of the most successful application scenarios of Web3, attempting to reconstruct traditional financial services in a decentralized way. After a round of bull-bear cycles, DeFi has left behind some very high-quality head protocols. But the tokens of these protocols did not actually perform well in this cycle. It can be mainly attributed to two key factors: - After ETH 2.0, Staking and Restaking narratives have emerged. These new projects generally have token incentives for participating users, diverting most of the TVL; and after the previous DeFi protocol liquidity mining rewards were reduced or stopped, the LP's income incentives were greatly reduced; - Governance tokens generally do not capture the value of the protocol. The business volume and revenue of the DeFi protocol are still considerable, but the pure governance coin cannot support a higher FDV. Although the DeFi protocol token market performance is poor, the DeFi protocol actually has continuous usefulness, certain positive externalities, and also complies with the basic principles of Web3 (no permission required, decentralization, etc.). 2. Prediction Market: The holy grail of cognitive technology. Prediction markets provide a decentralized way to acquire knowledge and marketize information by allowing users to bet or predict future events. They are naturally suitable for leveraging the decentralization, censorship resistance, global participation, and automatic execution of smart contracts of blockchain. These prediction market projects can be continuously useful, comply with the basic principles of Web3, and have certain positive externalities. This track may be a promising Web3 application direction, and the potential market size is large enough. 3. DePIN: It is both an infrastructure network and a future application carrier. DePIN is a paradigm innovation in the deployment and maintenance of physical infrastructure. Through Crypto, Internet, Internet of Things and blockchain technology, a more efficient, decentralized and fair way of infrastructure deployment can be achieved. DePIN may also be a future application carrier. In this cycle, Solana ecosystem launched Saga mobile phone, and CoralApp, which was recently invested and incubated by Binance Labs, is also going to launch CoralPhone. These hardware may become a new entrance to the Web3 world. Further expansion, shared transportation networks (such as shared charging stations and electric vehicle networks), which are indispensable infrastructure in modern society, may also be able to be operated and expanded in the form of DePIN, giving full play to the accessibility, inclusiveness and positive externalities of DePIN.
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