Founder of IOSG Ventures: The Eastern crypto community cannot always be a meme, the Eastern community needs a prairie fire

author:Jocy, Founder, IOSG Ventures

I just happened to see the story of Heaven's Movement of Power recently. The Hundred Days' Reform is still vivid in my mind. It is hard to imagine that in the Qing Dynasty, there were still some young people willing to follow Emperor Guangxu at the risk of being beheaded, advocating the new law that was hundreds of years ahead of the times within the dynasty, learning from the barbarians to control the barbarians, and advocating learning Western reform laws regardless of their personal safety. Although the final result failed, their spirit and actions left a strong mark. Such young people and pioneers have become role models for future generations to admire.

The spirit of these young people is equally important in today’s crypto world. At present, many practitioners are shouting that they have suffered from the “Western powers” for a long time, but in fact, they are using the left hand to do nesting mining with Restaking, and the right hand to rush the liquidity pool, and constantly posting memes/dogs on Twitter. Everyone knows the crux of the problem, but they all compromise for the current interests.CommunityCurrently, everyone is in a crazy state of hyping memes. Memes are like opium, an import of Western opium. Currently, the top memes on BN all come from the West.Communitybuilder会因为这样的噪音而迷失，东方加密社区深陷meme炒作。许多创业者看到meme的成功之后，会开始重新怀疑自己的创业方向以及奋斗的初衷。我认为创业者应该抵制meme，不应该把创业方向转向meme，并且流水线作业去炒作meme！

We need young people who are both down-to-earth and looking up at the stars, especially those entrepreneurs who can shoulder the ideal of Eastern encryption. Such young people should not only do trading-related things in this bull market or the last bull market, but should focus on the construction of infra and protocols to create a better community atmosphere. Instead of letting those developers and young people who are interested in entrepreneurship immerse themselves in various meme stories of getting rich every day.

To reiterate my position, I am not against traders who advocate meme supremacy in this market. I personally started to get dogecoin from the community in 2013, and I have always liked this community, but I don’t want meme traders to become the most mainstream faction in the Chinese community. Since the ETF was passed, I have clearly felt that entrepreneurs in the United States and Europe have emerged rapidly. They have received ample capital support from American funds. At the same time, some big American funds have said internally that they will not invest in Chinese Web3 entrepreneurs. In the era of encryption, the East and the West seem to have begun to have huge differences and disagreements from technology to community. While Western technology continues to emerge, the Eastern encryption community has fallen into the craze of meme hype, which is obviously not a healthy development trend.
Meme hype has a certain lottery effect. The probability of winning for latecomers will continue to decline. At the same time, memes, like opium, will make early beneficiaries form path dependence. More people will endorse memes in the community (similar to compradors), and the community will easily continue to strengthen such memes.make moneypath, but this does not make our technical protocols and communities more unique and powerful. Early participants may be able to profit from it, but this short-sighted behavior, this gambling game, and the legend of getting rich quickly will eventually burst this bubble and become a disaster for the Eastern crypto market, repeating the story of NFT in the last bull market cycle. Most of the first-tier Eastern entrepreneurs, I always believe that they will insist on starting a business in the first-tier, find their own building blocks in the Lego of infra or applications, and keep pace with or even lead the mainstream Western protocols.

Perhaps the crypto market should not be divided into the East and the West. This is a decentralized world. In the past few cycles, we have seen the various aspects of entrepreneurs in the East and the West: there are reasons for the success of Western entrepreneurs, MakerDAOFounder Rune Christensen has been involved in Web3 for many years and has successfullycryptocurrencyIn the bear market environment, its protocol revenue has been greatly increased. In March this year, it launched the Endgame plan and various SubDAO，其中包括专注于借贷协议的Spark SubDAO；EigenLayer 创始人在 ETHDenver 期间每天的会议安排都已超负荷，为了亲自与合作伙伴交流，把每个会议都精简至15/30 分钟的单位。可以看到在这个全球化竞争市场，许多创业者都在一线冲刺；Uniswap创始人硬件工程师出身，自学solidity创造五十行精简代码，引领行业Dex AMM创新浪潮。他们一直专注于产品设计和协议理解，追求行业内的领先地位。东方创业者是最有韧性并且强大的群体，我们也看到很多翘楚，但是他们仍然需要社区给予更多的支持和正反馈，东方社区理应更加团结和强大，花时间讨论如何师夷长技以制夷，正视如何扶持更加强大的东方神秘社区力量，当社区和创业者凝聚共识，也会让协议带来更多的正反馈。

As a fund originated in Asia, IOSG will invest in and support more Chinese entrepreneurs in this cycle, helping them to better enter the Western market and become mainstream. You can't imagine that in three to five years, the mainstream of this industry will still be meme. When we are in the wave of the encryption era, everyone will inevitably become a trend-setter. Everyone is also very small at the foot of the times, but don't ignore the negative energy brought to the Chinese community by everyone shouting that they should invest in meme.

Summary: We should be more united and face future challenges together. The community needs higher ideals and visions, and some people need to stand up for the future of the Eastern community. Crypto is not just about memes, there are many opportunities for infrastructure and applications waiting to be explored and discovered, and these are the real industry alphas. IOSG will promote the long-term development of the industry and community by investing in and supporting young people who are at the forefront, and help Eastern entrepreneurs stand out in the global market.

Note: The picture comes from the dogecoin community

The article comes from the Internet:Founder of IOSG Ventures: The Eastern crypto community cannot always be a meme, the Eastern community needs a prairie fire

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