Economist Akerlof once told a story about the used car market. In this market, only the seller knows the condition of the vehicle. Buyers simply can't tell which car is good and which is bad (American slang for "lemon"). Let's say a good car is worth 100,000, while a bad car is only worth 20,000. If you are a buyer, it's because you can't tell the difference. To avoid being ripped off, you're only willing to pay an average price: 60,000. Then, something interesting happened. The seller, who owns a "good car," immediately thought: “My car is worth 100,000, and you’re only offering 60,000? I’m not selling it.” As a result, the good car was withdrawn from the market. Upon hearing this, the seller with the "broken car" thought: "My car is only worth 20,000, and you're offering 60,000? I'll sell it!" So, the broken car remained. Gradually, all that was left on the market were broken cars. Buyers discovered that the cars they received were always broken. So they lowered their bid further to 20,000, or even lower. at last. The entire market completely collapsed, and not a single car could be sold. 🖊️This is the "lemon market" theory. When information asymmetry exists. If you cannot prove your worth. High-quality assets will be squeezed out of the market by low-quality assets. Why are there so many on-chain meme in the cryptocurrency market, while projects that focus on genuine technology struggle to raise funds? Because in this unregulated jungle. It's difficult for people to judge the quality of code. As a result, investors tend to label all projects as "potentially a scam" and give them very low valuations. The legitimate team felt the valuation was too low and decided not to issue the token. The rest are all "lemons" who just want to make a quick buck and run. In this market, whoever can solve the "trust" problem will earn the biggest premium.