Reunion in Singapore, a quick overview of TOKEN2049 wonderful views

Written by: Gyro Finance

This year's Token2049 was extremely lively, and Singapore once again became a Web3 mecca.

A year ago, the East-West dispute between Singapore and Hong Kong was in full swing, but a year later, the confrontation between the two has gradually subsided. With the end of the licensing system, Hong Kong's various favorable policies seem to have failed to shake Singapore's position as a bridgehead in the West. It is precisely because of the reduction of controversial topics that Singapore has been quite low-key in the past year. The development of local Web3 is as hazy as a veil, existing in the public's word of mouth.

From the data, Singapore's influence is still outstanding. Token2049 held locally has undoubtedly become one of the top and largest conferences in the industry. Compared with the previous ones, the number of participants and venues of this conference has been expanded, and the capacity of personnel has also reached a new high. More than 20,000 participants from more than 150 countries and more than 7,000 companies went to the site to attend the conference, which brought this event to a perfect end.

Compared with previous conferences, the most prominent feature of this year is the larger-scale side events. In the collective carnival, it is not surprising to have more than a hundred side events.But this year, the number of Token2049-related activities in Singapore is close to 800, which is still staggering.In the surrounding activities, majorexchange, project parties all came out, calling orders and attracting people, and various types of activities followed one after another, which really made the whole of Singapore feel the unique charm of the cryptocurrency circle. Of course, frequent peripheral activities inevitably squeezed the main venue to a certain extent. After all, most free activities are undoubtedly more cost-effective.

As for why there are so many peripheral activities, some people analyzed that participating in the most influential activities under the premise of limited budget has become an operational consensus, and the project's participation in Singapore's Token2049 is also a part of PR. In addition to being able to more directly connect projects with capital resources, public appearances in front of the public are also conducive to enhancing trust and building brand image, and are also more conducive to subsequentCommunityOf course, this is just one person’s opinion. However, after nearly a year of liquidity mismatch, most project parties are also quite stretched. Judging from the disclosures of most participants, both the conference meals and the project party’s exhibition gifts are likely to be downgraded.

It is worth mentioning that the international nature of the participants at the main venue is more prominent. Although there were many overseas people before, the proportion of Chinese people has always been high. However, from the main venue this year, the number of Chinese faces has dropped sharply, reflecting more Western narrative characteristics. It is quite interesting that at the side event, more Chinese people can be seen.CommunityStill very active.

From the perspective of topics, regardless of the various separate sections around it, Token2049 still has a lot of topics, focusing on current hot topics.Bitcoin Layer2 remains the same.AI+DePin concept has been gaining momentum, the hot new TON has not lost its attention, and ETF and RWA represented by Web2 integration are also setting sail, and Ethereum has also become the focus again driven by V God. In addition, the rise of SUI during the conference also attracted attention. Some participants predicted that there would be major positive news soon, and the voices of praise were endless.

Of course, this conference is no different from previous ones. In addition to the orthodox meetings such as discussing trends and development, the socializing and gossip never disappoints. In addition to the crazy circulation of photos of middle-aged women, various "quarrels" and "pornographic photos" are getting more and more serious, and even gradually becoming like Xiaohongshu, which has also attracted complaints from many industry insiders.

Back to the main topic, looking at the essays of Token2049 every year, it seems that they accurately outline the current situation. After the Web3 Jews, the Eastern and Western capitals do not take over each other, and the centralizationexchangeThe theory of winning and the theory of VC losing, one after another, truly reflects the rotation cycle of the roles of the Web3 ecosystem. This year, perhaps due to the surrounding activities, the participants were too busy to attend, and no essays have been released yet, but the trend analysis in the speeches is still very important.

In this regard, Gyro Finance has specially integrated the views of some of the participating guests to see the views and trends discussed by the guests in Singapore. Note: The content comes from Blockbeats, Jinse and other external information sources, with slight deletions and changes.

Ethereum co-founder Vitalik Buterin

People often say that it’s still early days for crypto and we’re still building the infrastructure. Indeed, how long it took for something like the internet to come to fruition is often discussed since the launch of Bitcoin. The reality is that it’s no longer early days for crypto today.

Ethereum as a project has been around for over 10 years, and in the 15 years since Bitcoin was born, we’ve seen things like ChatGPT go from non-existence to a sudden rise, completely changing the public’s imagination of artificial intelligence.

I don't think we are early in the crypto space, but we are in a special stage. And the main goal of Ethereum in the next decade is to meet mainstream adoption while maintaining open source and decentralized value.

Full text of the speech: https://www.tuoluo.cn/article/detail-10116119.html

Jeremy Allaire, Co-founder and CEO, Circle

As for the future vision of the crypto market, in the 1.0 version of Circle's vision, this is basically a world of storing and transferring value with zero marginal cost. In this world, the user experience of trading on these mediums will be as simple and seamless as the user experience of using major software tools on the Internet. We haven't reached the goal yet, but we are very close. But I think in the next year, we will make progress on related practical tools. As we get closer to the 1.0 version vision, the world's money circulation speed and real economy will increase significantly, and if we have this extremely high money circulation speed, people's ability to gain economic benefits from it will be significant.

It’s still early days, and despite huge progress in decentralized finance (DeFi), we’re still only just beginning to explore this space. I would compare this to when the iPhone was released, when there was a lot of creativity around mobile devices.

Kyle Samani, Co-founder and Managing Partner of Multicoin Capital

Ethereum has been developed for 9 years. During these 9 years, there are three most important things. First, the rise of DeFi has becomeBlockchainThe most important application. Although DeFi had developed before 2020, the real explosion was the DeFi "summer" in 2020. This was 5 years after the launch of Ethereum. The second major event was Ethereum's decision to adopt a roll-up-centric expansion roadmap in October 2020. The third was Ethereum's shift from proof of work (PoW) to proof of stake (PoS) in 2022.

Currently, Ethereum is no longer the center of value capture. The roll-up-centric roadmap explicitly moves transaction fees and MEV (maximum extractable value) fees from L1 to L2, L3 and even L4. Although this roadmap successfully pushed transactions to L2 层，但也因此把大部分价值创造从以太坊这个资产上移走了。现在几乎所有的交易都在 L2 上，90% 以上的交易都发生在 L2 上。

From Solana’s perspective, we have three unique advantages that are almost impossible to be matched by otherCommunityReplication is also the reason why we are more optimistic about its future.TokenThe extended functionality, which was launched earlier this year, provides many features for payment companies or major global asset issuers, such as built-in yield functionality, confidential transfer functionality (hiding senders and receivers), asset issuance and revocation functions, etc. These features were developed based on direct needs of payment companies and Wall Street and are now live on the mainnet. The reason I emphasize this is that we not only have DeFi and other decentralized financial tools, but also need to meet the needs of regulated finance. Without these integrated features, regulated financial companies will not be able to go on-chain at a large scale.

The second is the upcoming new Solana client Firedancer, developed by Jump Trading. The third is the hardware expansion related to Firedancer. One of Solana's design principles is natural expansion through parallel hardware. This is a key concept at the core of the system design: to achieve our goal of building a decentralized Nasdaq. The Ethereum virtual machine EVM is a single-threaded processor, and although they have been talking about parallelization for 9 years, there has been no substantial progress so far. We believe that this full embrace of parallel processing will become more obvious in the coming years, especially as on-chain assets expand.

OKX CEO Star

The crypto industry will not simply copy the traditional trading structure. Because the crypto industry is still essentially a technology-driven industry. Many new technologies will make these typical market structures no longer necessary, and many better market structures will emerge. Self-custody is a great technology.

For thousands of years of human history, after we created wealth, such as gold or silver, people took it home and put it under the bed. In the digital age, when we get money, there are third-party agents who help us manage it. I think self-custody technology provides a choice for human society, allowing people to control their own funds instead of relying on others. I believe this will be a bright future.

Shayne Copla, Founder and CEO of PolymarketXiaobai Navigationn

To make a good product, from the marketing and promotion side, first build a core user group and find user portraits that really like the product. It takes time to figure out how to focus on building a useful product. Once the product is developed, you need to understand the product's positioning in the market: how does it compare to competitors, and what unmet needs are there in the market? If the project party does not start marketing before actually building a useful product, then they are not actually promoting it.

After finding the target users and clarifying the target groups, it is necessary to find suitable distribution channels to reach them. Polymarket usually chooses a specific vertical market first. Developers need to focus on creating some products with practical value, understand its positioning in the market, and whether it can meet some potential or unmet needs compared with competitors and alternatives.

When it comes to audience attraction, Shayne believes that rapid iterative product development is crucial.

Alex Svanevik, CEO of Nansen

If Harris is elected, she is likely to continue the current administration'scryptocurrencyThe relatively unfriendly policies of the industry. But Harris's election may have a positive impact on countries outside the United States.cryptocurrencyBusiness is good because American companies may move their operations overseas. He revealed that some founders and CEOs have said that if Harris wins, they will consider relocating their business. Svanevik emphasized that from a global perspective, non-Americans may be more supportive of Harris's election because it will prompt more crypto businesses to move outside the United States.

Vance Spencer, Co-founder and General Partner, Framework Ventures

If I were starting a fund from scratch now, I would be very focused, which is how we started in 2019. I might move to India, China, or Hong Kong. I would try to focus on a regional market, and I might go deep into a specific field. I think the hard part of starting out as a venture investor right now is that the competition is so fierce. We still haven't seen any fund show breakout performance in this cycle, like someone invested in a project and got a 1,000x return, and then they can become a "big boss", of course, it may not be realistic for me (to see such a thing now).

I think the period from 2018 to 2022 is going to be such a unique period in the history of this industry that I don't think everyone here will be able to grow from a fund size of about $10 million to billions of dollars.

Arthur Hayes, Founder of BitMEX and CIO of Maelstrom

Today is Fed Day when the Federal Reserve will begin to cut interest rates, and ETH is an Internet bond with a pledge rate of about 4%. As long as the Fed's interest rate cuts cause the market to expect the U.S. Treasury bond rate to be lower than 4%, ETH will become attractive and the ETH bull market will rise again.

He also said that as the Federal Reserve cuts interest rates, cryptocurrenciesToken将有新的赢家和输家，那些超过美国国债收益的代币将是赢家，如 ENA、ETH、ETHFI、PENDLE，而 RWA 代币如 ONDO 将是输家。

Pump.fun Investor Qiao Wang

In the crypto space, I don’t think gamification is necessary to make a consumer app and be successful. Fundamentally, user stickiness is important, and whether you can have a high retention rate comes from whether you solve a real core need for consumers. Gamification is fun and does improve retention, but it’s not a long-term solution. If your product has loopholes, people won’t want to use it, and even if they use it because of some incentive, they will leave immediately after using it. I don’t think any more gamification can change this.

However, gamification of applications is most evident in highly saturated markets, especially those with high product homogeneity. In such cases, companies need to rely on manual means to maintain customer loyalty and retention because the switching costs between products are low.

The article comes from the Internet:Reunion in Singapore, a quick overview of TOKEN2049 wonderful views

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