Fully Invest and Utilize Bong Beras
Background and Value of Bong Beras
DeFi Dave asked how Bong Beras, as an NFT project, has created meaningful activities and value in the Bera Chain experience.
Jani shared his experience in data analysis and traffic background, emphasizing his observations and participation during the DeFi summer.
He mentioned that Bong Beras is an interesting form of NFT with a rebase mechanism, meaning that each generation will have different supply and characteristics. He explained that the initial supply was very limited, with only 101 randomly generated NFTs and six honorary editions. This mechanism not only attracted user attention, but also motivated them to engage in deeper interactions.
Rebase Mechanism of NFTs
The rebase mechanism of Bong Beras allows owners to obtain more tokens by holding an NFT. For example, a user who owns a Bong Bera will receive additional NFTs in the next generation, a mechanism that encourages users to actively participate and hold these digital assets. Jani pointed out that this design was partly inspired by the then-popular Olympus-style rebase narratives.
He emphasized that owning Bong Beras is not just about holding an asset, but about participating in an ever-expanding ecosystem, where users' sense of participation and belonging are enhanced.
The Power of Community and Culture
When discussing the community, DeFi Dave and Jani both mentioned that the culture and community atmosphere behind Bong Beras are very important. Jani said that although the market has experienced volatility and uncertainty, the community culture around Bong Beras is relaxed and humorous, and everyone supports each other and shares experiences in the process.
He mentioned that participating in such a community gives him a sense of belonging, and even though the market environment is constantly changing, being able to build and create with like-minded people is a very valuable experience.
Strategies from Holding to Trading
Jani shared his trading strategies in Bong Beras. He realized that in the NFT market, owning the rarest or most common assets usually provides better liquidity. Therefore, he started trading within the community, exchanging to acquire more NFTs, thereby establishing his own advantages in the market.
He gave an example that by exchanging a second-generation Bong Bera for three more common NFTs, he not only increased the number of assets, but also created more opportunities for future trading. This strategy not only kept him competitive in the market, but also strengthened his connection with the community.
Building the Honey Jar Mechanism
Origin of the Honey Jar Mechanism
Jani shared his experience in launching the Honey Jar (THJ) in 2023, admitting that his initial motivation was to make a huge profit by selling a Bong Bera. He described how he conceived the idea of putting a Bong Bera into a smart contract and building a honeycomb system.
He said the plan was to sell 16,420 Honey Jars at around $100 each, so he could successfully exit Bong Bera, while also allowing others to win Bong Bera, achieving a win-win situation.
Open-mindedness and Collaboration
In the process of building Honey Jar, Jani emphasized his habit of thinking in an open environment and the importance of collaborating with others. He mentioned finding a "somewhat crazy" partner in spirit to co-develop the project. His open-minded approach has led him to form different ways of expression and communication in his evolving identity.
Community Participation and Feedback
During this process, Smokey contacted him and invited him to participate in a project that was under construction. Jani recalled his early experiences in the crypto field, and although he felt he was the "dumbest" in some occasions, he was still able to access some cutting-edge ideas and technologies.
He mentioned that when he saw Berra Chain innovating the relationship between validators and applications in their economic model, he realized the potential of the project, even though the technology and ecosystem were not yet mature at the time.
Facing Challenges and Adapting
Jani talked about the challenges he encountered when participating in the community, such as being frequently kicked out of Discord, which was frustrating for him. He mentioned that despite these difficulties, he still tried to maintain interaction with the community, sharing his own ideas and experiences.
This experience not only gave him a deeper understanding of the crypto ecosystem, but also prompted him to maintain a positive attitude and seek solutions when facing challenges.
Honeycomb Structure, Integrators, and Community Engagement
Jani mentioned that in the process of building the Honey Jar project, he realized that many people had high expectations for the Bera Chain project and actively sought cooperation. After two months of development, they have reached cooperation intentions with nearly 40 partners, and many partners hope to provide some form of benefits for Honey Jar.
He said that this spontaneous business development (BD) phenomenon made him aware of the potential of the project. The partners were not simply looking to do a logo co-promotion, but saw the value of the project and believed it could solve their problems.
Modular Thinking and Problem Solving
Jani compared this cooperative relationship to "networked help", similar to the combination of Lego bricks. He emphasized that participants in this process are seeking to solve problems, achieving synergy through "input" and "output". This way of thinking has led to the gradual emergence of the "welfare aggregator" narrative.
He believes that Honey Jar is one of the early participants in this field. He mentioned that the project has already brought actual benefits to holders through multiple airdrops, and many users' investment costs have been covered by these airdrops.
Market Environment and Project Launch
Jani reviewed the project's launch timing, mentioning that they chose to release it on March 3rd, a date related to Ethereum Denver. Although this date is considered inauspicious in the crypto circle, they decided to take a bold attempt. Shortly after the launch, the Silicon Valley Bank crisis occurred, which they felt was "perfect".
He said that in such a market environment, they successfully completed the minting of their project and decided to promote it in a relaxed manner, even calling themselves a "scam". This unconventional attitude attracted many like-minded people, forming a unique energy and atmosphere.
Serious Work and Sense of Humor
Jani emphasized that although the team does not take themselves too seriously, their dedication to their work is evident. He believes that this sense of humor and unconventional style has helped them stand out in the highly competitive market and attract more community participants.
Developing a Cybernetic Culture Based on Honeycombs
Genuine Integration and Community Engagement
DeFi Dave asked what actual integrations, besides airdrops, have been implemented in the Honey Jar project. Jani responded that his view on the "cult" narrative is different, believing that this narrative is often based on the difficulty of leaving, while in the Bera Eco, participation is actually very simple, and anyone can easily join.
He mentioned that although people can leave at any time, in reality, very few choose to do so, which reflects the attractiveness of the community.
Barrier-free Participation and Community Autonomy
Jani further discussed the progress they have made without the real support of the underlying organization. He recalled that during the "Chaos Carnival" held at Ethereum Denver, the community's participation and enthusiasm attracted the attention of external investors. Although the underlying organization had invested almost no marketing resources, their activities had a huge impact on social media, even leading some outsiders to mistakenly believe that Honey Jar was part of the underlying organization.
This phenomenon highlights the autonomy and self-organizing ability of the community, demonstrating that in a decentralized environment, the real power comes from the enthusiasm and creativity of the participants.
Relationship with the Underlying Organization
Jani mentioned that their relationship with the underlying organization is relatively independent. They are not subject to interference from the underlying organization and can freely carry out their own activities. This freedom allows them to flexibly adjust their strategies and directions based on the needs and feedback of the community.
He pointed out that the recently launched Request for Proposal (RFP) mechanism of the underlying organization is a wise move, as it standardizes the way ecosystem applications acquire liquidity, avoiding repeated communication between multiple teams. This not only saves time but also improves efficiency.
Community Knowledge and Support from the Underlying Organization
Jani emphasized that the underlying organization recognizes that the frontline participants understand the community's needs and usage patterns better than they do. This recognition of community knowledge demonstrates the humility and wisdom of the underlying organization in supporting the development of the ecosystem.
He believes that the habits and preferences of community members largely determine the vitality of the ecosystem, and the role of the underlying organization is to provide support and resources for this vitality to promote broader participation and innovation.
Berachain's Cybernetic Culture and Comparison with Other L1/L2 Blockchains
Unique Cybernetic Culture
Jani mentioned that Berachain's cybernetic culture exhibits a unique mechanism that can convey value to those most likely to become loyal users. He stated that in his entire involvement in the blockchain industry, he has never seen any L1 that can thrive culturally like Berachain.
He further explained the meaning of "cybernetic culture," pointing out that a notable feature of Berachain is its ability to precisely target user groups that exhibit "sectarian" behavior. This behavior may be manifested in periods of high participation or in engaging in activities that seem to have no apparent benefit but are very interesting.
User Behavior and Community Participation
Jani gave an example that about 20% of ETA and NFTs were sent by users to burn addresses, solely because the act was interesting, and not for any other purpose. This indicates that within the community, there is a small group of users who exhibit extremely high levels of participation and a sense of humor.
He also mentioned that although Honey Jar's NFTs were free and their value once reached 0.7, about 15% of the holders chose not to sell, and even increased their holdings. These users have invested actual money and time over the past few years, experiencing a series of market fluctuations and uncertainties, forming a deep "trauma bond."
Comparison with Other L1s
Jani emphasized that Berachain was launched in a mature and culturally resilient environment that has weathered multiple market challenges, something that is difficult to find in other L1s. He recalled his experiences before the birth of Bitcoin, when the understanding of blockchain was still vague, and now, the launch of Berachain coincides with a cultural movement that is already prepared.
He believes that this cultural background provides strong support for the promotion of new technologies, allowing them to establish deeper connections and resonance with the community.
Combination of Technology and Movement
Finally, Jani mentioned that the launch of Berachain is not just the release of a technology, but the beginning of a movement. Through its close connection with the community, Berachain can establish a sense of belonging and identity among users, an atmosphere of culture that other L1s cannot match.
The Rise of Honeycombs and Changes in Community Dynamics
Jani mentioned that Honeycombs (Honeycomb) has performed excellently in the past year, becoming the best-performing asset in the entire NFT field. He pointed out that although during certain brief periods, assets like "schizo posters" had surpassed Honeycombs, but overall, the value of Honeycombs has increased 12-fold in the past 12 months, far outperforming other NFTs.
NFT Ecosystem and Community Participation
Jani continued to discuss the dynamic changes in the NFT ecosystem, mentioning that in the previous cycle, 80% of new wallets and market participants entered the crypto space through NFTs. He emphasized that although the activity of some users has declined, there are still many users holding assets on-chain, ready to participate again.
He mentioned that research has investigated the behavior of those who entered the crypto market through NFTs, and the results show that the proportion of these users transitioning to DeFi is very small. This indicates that most newcomers are still focused on the NFT ecosystem, but their participation in DeFi is relatively limited.
Community Visibility and Invisible Economy
Jani pointed out that although in some crypto Twitter (CT) communities, Vera (possibly referring to a project or concept) seems to have garnered significant attention, in many areas of the on-chain economy, this phenomenon is invisible. He finds this situation quite interesting, as it reveals an asymmetric information advantage, providing many actionable opportunities for the community.
He emphasized that in-depth data analysis can reveal valuable information that unveils the true dynamics of user behavior and provides guidance for future strategies.
Future Opportunities
Jani is confident about the future of Honeycombs and its community, believing that in the current market environment, Honeycombs can leverage its unique culture and user base to continue leading the development of the NFT field. He looks forward to the community seizing more opportunities in future dynamic changes to further thrive the ecosystem.
Roles and Social Interactions in Different Domains
Switching Roles and Identities
DeFi Dave mentioned that in the crypto space, many people create different identities to adapt to different social environments. He described this phenomenon as being "a person in the dark," as in certain situations, individuals may present themselves very differently in different social circles. He pointed out that although everyone wears a mask to some extent, his own case is more pronounced in this regard.
Jani supplemented that people may present themselves differently in different environments. For example, the identity displayed in the crypto community may be very different from the one in front of family or friends. This self-identification of identity may make it difficult for people to switch between social circles.
Dynamics of Social Interactions
Jani further shared an observation about social interactions, using "first response time" as an indicator to assess the activity level of network interactions. When he expressed interest in a particular topic on social media, the speed with which he received feedback could reflect the activity level of that community. For example, when he asked for information about SPX, there was almost no response within 24 hours, with only a few people providing basic suggestions, making him aware of the relatively low interactivity in that field.
In contrast, when he mentioned "Sparto Gremlins," his social media notifications were immediately flooded with a large number of interactions. This strong feedback showed the level of activity around that topic, indicating his closer connection to the Bitcoin community.
Community Overlap and Interaction Strategies
DeFi Dave stated that this may be related to the degree of overlap between the Bitcoin community and other communities. He speculated that the connections between the Bitcoin community and other crypto communities (such as the SPX community) may be relatively less, so having different identities in these areas may affect the frequency and quality of interactions.
He recalled a tweet he posted last year, which unexpectedly attracted the attention of many people in the SPX field, even though he did not specifically target the SPX community. This phenomenon made him realize that the interaction and overlap between communities can greatly influence an individual's experience on social media.
A New Definition of Community
Jani raised a question about the definition of "community" (cult). He pointed out that this word has multiple meanings in contemporary times, such as referring to the tragedy of "Jonestown" or the style of SBF's FTX, and can also be understood as the Latin "cultus", meaning "cultivation" or "growth". He himself spends a lot of time in gardening outside the crypto field, and this contact with nature has made him reflect on the essence of community.
Short-term and Long-term Thinking
Jani believes that the crypto field often exhibits short-term thinking, focusing on rapid market cycles and attention spans. He thinks that adopting a gardening mindset to approach the crypto community would be more beneficial, as gardening requires patience and long-term investment. He mentioned that in this process, the community will go through different "seasons", and sometimes certain groups will be particularly active in specific periods.
He pointed out that when the community performs well, members may choose to exit due to the lucrative returns, which is a common feature of community development.
The Persistence and Culture of Communities
Jani emphasized that although many people have reasons to leave certain communities, for the excellent builders, once they are integrated into the community culture, the community will become more persistent and sustainable. He believes that community culture is a natural system that can remain vibrant even after experiencing major changes and different seasons.
He mentioned that when establishing "Honeycombs", the initial goal was to raise funds during the bear market, but with more participation, the community's activity and interactivity have greatly increased.
Community Innovation and Construction
Jani further mentioned that many projects built in the Bera ecosystem have been integrated with "Honeycombs", which demonstrates the community's activity and innovative capabilities. He pointed out that although Ethereum seems to be in a lull, there are still a large number of builders actively innovating in the Bera ecosystem.
He believes that many builders choose to continue participating because of their passion for this field and confidence in the future, rather than just for money.
Summary and Outlook
Finally, Jani concluded that the definition of community is not just a simple label, but a complex ecosystem involving member interactions, cultural inheritance, and a shared vision for the future. He looks forward to seeing more people understand and participate in this new community phenomenon to drive further development in the crypto field.
Prioritizing Community Support in a Sustainable Way
A New Definition of "Community"
DeFi Dave raised a question about the new definition of "community" (cult). He mentioned that traditionally, our understanding of community has often been negative, such as the tragedy of "Jonestown", where people were passively brainwashed and indoctrinated. He hopes to elaborate on this new definition in more detail, emphasizing its proactivity.
Lessons from Web2
Jani explained the lessons from Web2. He pointed out that in Web2, users are often treated as products, and there are issues with the flow of value and power dynamics. Users' interests are often overlooked, and profits are privatized for various purposes. He believes that "Honeycombs" provide a framework for communities to productize themselves, allowing community members to benefit from it.
Community as a Product
Jani further elaborated on how "Honeycombs" operate. He mentioned that although the team members are distributed across different continents, they do not hold regular team meetings, but collaborate efficiently in an asynchronous manner. He emphasized that the active participation and network effects of community members enable the entire team to operate efficiently.
The holders of "Honeycombs" are incentivized to expand their networks, so when they interact with the core team, the focus of the discussion shifts to fine-tuning the details rather than the sales process.
Network Effects and Adaptability
Jani introduced the concepts of "network effects" and "adaptive culture". He believes that community members can receive corresponding benefits through their participation, and these benefits are proportional to the size of the community they are involved in. At the same time, for projects that integrate "Honeycombs", they can quickly access an active user base, allowing them to focus more on their own construction.
He mentioned that the behavior of "Honeycombs" holders in decentralized finance (DeFi) can be analyzed, providing valuable data support for projects to better understand user needs and market dynamics.
Summary and Outlook
DeFi Dave and Jani emphasized that through this new definition of community, the community is not just a passive recipient, but an active participant and co-creator of value. This cooperation-based and mutually beneficial model can promote the sustainable development of the community.
Community Phenomenon as a Cybernetic Organization
The New Definition of Community
Jani returned to the discussion of the new definition of "community" (cult). He emphasized that from their perspective, the community is more like a natural system that can generate dynamic interactions between the digital realm and the real world. He cited the Latin root "cultus", meaning "cultivation", and pointed out that this new definition emphasizes the community's self-sustaining ability.
Culture and the Self-Sustaining of Communities
He mentioned that the persistent pattern in human history is that self-sustaining cultures and communities can survive in different environments, whether it's "summer" or "winter". This self-sustaining ability allows communities to cope with various challenges. Jani believes that the assets and tools from cybernetic cultures will be more sustainable in the long run than short-term hype.
Financial Populism and Absurdism
He mentioned that in the current era, the phenomena of financial populism and absurdism are very prominent, and many emerging financial tools and assets (such as meme coins) are manifestations of this trend. He believes that these assets can be traded, but they may not necessarily have lasting value. He contrasted short-term market hype with long-term sustainability, and believes the latter is more worth investing in.
Adaptability and Future Sustainability
Jani expressed confidence in cybernetic cultures, believing that they can persist due to their adaptability. He mentioned that although meme coins may become the latest version of financial absurdism, he would rather invest his Bitcoin in cultures that have adaptability and can continue to develop in the future.
Summary and Outlook
Finally, he emphasized that understanding the community as a cybernetic organization is important because they can maintain vitality and adaptability in a constantly changing environment. This perspective not only helps us understand the current market dynamics, but also guides us to choose more sustainable projects in our future investment decisions.
The Key to Sustaining Online Communities in the Long Run
DeFi Dave asked what the key to sustaining online communities in the long run is. He mentioned factors discussed previously, such as shared experiences of adversity, community signals, and inside jokes, and inquired about other aspects that could help communities achieve long-term sustainability.
The Relationship between Economics and Culture
Jani responded that economics plays an important role in the long-term sustainability of communities. He believes that the key to communities and culture is the ability to maintain some form of coordinated collective effort in different directions. He mentioned that communities need diversified participation mechanisms to support economic flow and engagement.
The Sustainability of Closed-Loop Systems
He further explained that communities with closed-loop systems are more sustainable because value can flow back into the system more effectively. He mentioned that mechanisms like Bera Chain can create more feedback loops, enhancing the self-sustaining ability of communities.
Participation and Feedback
Jani emphasized that participants should find areas where they can focus their efforts, like Bera Chain. He mentioned that feedback loops in communities can help members better understand and adapt to their environment, maintaining their vitality.
Self-Regulation and Diversity
When discussing how to regulate dopamine levels, Jani shared his experience of gardening and emphasized the importance of finding a balance between online and offline activities. He mentioned that engaging in activities with different rhythms can help restore mental health and avoid excessive immersion in high-intensity online activities.
Defining Culture and Participation
DeFi Dave asked for more information about the definition of culture.
Jani stated that he is working on related content and mentioned his article published on Mirror, discussing the history and development of the Bera Chain culture. He encouraged everyone to explore different communities and find the participation mode that suits them best.
Conclusion and Future Outlook
DeFi Dave and Jani discussed the future of communities, emphasizing the importance of creating positive feedback loops and diversifying participation. They encouraged the audience to explore different communities and platforms to find the culture and participation mode that best suits them.
