List of characters in Crypto Dark Forest | Bee Network

List of characters in Crypto Dark Forest | Bee Network Login ٹرینڈنگ نیوز میمی لانچ پیڈ اے آئی ایجنٹس DeSci TopChainExplorer نیوبی کے لیے 100x سکے مکھی کا کھیل ضروری ویب سائٹس اے پی پی کا ہونا ضروری ہے۔ کرپٹو مشہور شخصیات DePIN Rookies ضروری ٹریپ ڈیٹیکٹر بنیادی ٹولز اعلی درجے کی ویب سائٹس تبادلہ NFT ٹولز ہیلو، باہر جائیں ویب 3 کائنات کھیل ڈی اے پی پی شہد کی مکھیوں کا چھتا بڑھتا ہوا پلیٹ فارم AD تلاش کریں۔ انگریزی سکے ریچارج کریں۔ لاگ ان کریں ڈاؤن لوڈ کریں ویب 3 یونی کھیل ڈی اے پی پی شہد کی مکھیوں کا چھتا AD گھر•تجزیہ•List of characters in Crypto Dark Forest List of characters in Crypto Dark Forestتجزیہ9 ماہ پہلے更新وائٹ 25,409 27 اصل مصنف: @VannaCharmer

اصل ترجمہ: اسمائے، بلاک بیٹس

Editors note: In the ever-expanding narrative of the کرپٹوcurrency market, tokens are no longer just a carrier of technological or financial innovation, but have become a bargaining chip in a structural game. From exchanges, VCs, KOLs, to communities, airdrop players and retail investors, everyone is involved in a game of who is the last one to take over. This article does not attempt to deny the potential of encryption technology itself, but to reveal the hidden truths in the current token issuance and circulation mechanism: how it operates like a multi-level pyramid scheme, and how it systematically concentrates profits upward. I hope this article can provide you with a more sober perspective, and learn to distinguish narrative from reality in a market where illusions and hopes are intertwined.

اصل مواد درج ذیل ہے:

Cryptocurrency is a re-enactment of the worst aspects of pyramid schemes—only this time it’s an internet-native version with greater marketing efficiency and less transparency. Most tokens have evolved into a sophisticated pyramid game: those at the top extract the maximum returns, while retail investors are left with a pile of worthless “air coins” in the end.

This is not accidental, but a structural problem.

In traditional MLM programs, such as Herbalife or Mary Kay, products are often overpriced but less effective than alternatives on the market. The core difference is not the product, but the sales method: instead of going through retail stores, individual agents make the purchases first and then go out and find willing customers.

As a result, the situation quickly changed from selling products to recruiting people. The motivation for each person to buy a product was not to use it, but to sell it to others at a high price in the future. In the end, when there were only speculators left in the market and no real users, the pyramid could no longer hold on. The people at the top took away all the asymmetric benefits, while the participants at the bottom could only stare blankly at a pile of inventory that no one wanted.

ٹوکن Pyramid The operating logic of crypto tokens is exactly the same as that of multi-level pyramid schemes. The token itself is the product – a digital asset with an inflated price and little practical use other than speculation. Just like the distributors in the pyramid scheme system, the holders do not buy the tokens to use them, but to sell them to the next person at a higher price later.

This pyramid structure is similar to traditional MLM, but cryptocurrencies have their own unique participant ecology, forming different levels. Compared with traditional MLM products, tokens are more ideal carriers: they can use the Internet and social networks more efficiently, are easier to trade and obtain, spread faster, and spread more widely. The operating logic is roughly as follows:

In traditional MLM, if you develop downlines and they sell the product or continue to buy, you can profit from it. The same is true for tokens: you let others take your goods, and then pull in some new people who entered the market later than you. This is beneficial to you and those above you, because new people provide exit liquidity and the price goes up. At the same time, new people will also start to actively promote because they have also taken tokens (they now have goods too!), and early holders can cash out at a high position (the profit multiple has increased!). This mechanism is exactly the same as MLM, but it is more powerful.

The higher your position in the pyramid, the more motivated you will be to issue new coins and continue to promote this gameplay.

Godlike existence: تبادلہ At the top of the crypto pyramid are the real “gods” – exchanges. Almost all “successful” tokens are deeply controlled by exchanges and their associated market makers. They control the distribution and liquidity of tokens. If project parties want to access the platform and obtain distribution resources, they often have to “pay tribute” – that is, hand over a portion of tokens for free.

If you don’t follow their rules, your tokens won’t be listed online, or they will have to stay in the “hell” of extremely poor liquidity and eventually die silently. Exchanges can kick out market makers at any time, require project parties to provide tokens for their employees to cash out, and even unilaterally change the terms of service at the last minute. Everyone knows this hegemony, but they can only endure it silently – because this is the price to pay for “liquidity” and “distribution”.

For entrepreneurs, exchanges are an insurmountable wall. Whether or not a project can be listed on a top exchange often depends on the network of relationships rather than the quality of the project itself. This also explains why so many projects now have invisible co-founders or former exchange employees who are responsible for matchmaking and opening up channels. Without experience or connections, it is almost impossible to complete this coin listing process.

Demigod: بازار بنانے والا Market makers, in theory, provide liquidity to the market, but in reality they often help project owners secretly sell their tokens through OTC, while using their information advantage to reap ordinary users. They usually hold a considerable portion of the total supply of tokens (sometimes up to several percentage points), and use this to manipulate transactions and obtain asymmetric arbitrage opportunities. For tokens with a small circulation, this effect will be greatly magnified, putting them in an extremely advantageous position in transactions.

The money earned by simply providing liquidity is extremely limited, but by reverse trading with uninformed users, you can make a lot of money. Among all market participants, market makers have the clearest understanding of the circulation of tokens – because they know the real market floating volume and hold a large number of tokens. They are the pinnacle of information advantage.

For project owners, the quotes of market makers are also very difficult to evaluate. Unlike services such as haircuts, which have clear prices, the prices of market making services vary from person to person. As a startup project owner, you have no idea which terms are reasonable and which prices are inflated, which has given rise to another gray area: the proliferation of invisible co-founders and market making consultants. They act as consultants to help you make connections, but this further increases the complexity and gaming costs of issuing coins.

King: VC and project parties Below the exchanges are the project owners and VCs, who captured most of the value in the private placement stage. They got the tokens at extremely low prices before the public heard about the project, and then spun a narrative to create a liquidity outlet for shipment.

The business model of crypto VCs has become extremely distorted. It is much easier to get liquidity events in the crypto industry than in traditional venture capital, so they dont really encourage long-term builders. In fact, the opposite is true – as long as it is beneficial to them, VCs can turn a blind eye and acquiesce to predatory token economic models. Many VCs have long stopped pretending that they are supporting sustainable businesses, and are systematically participating in and supporting various pump-and-dump speculations.

Tokens also give rise to a peculiar incentive mechanism: VCs are motivated to artificially inflate the valuation of their portfolios (actually “harvesting” their own LPs) in order to increase fund management fees. This is especially common with tokens with low circulation – they can use FDV to mark the book value, thereby inflating the project valuation. This practice is extremely unethical because once all tokens are unlocked, it is impossible to exit at that price. This is also one of the key reasons why many VCs will find it difficult to raise new funds in the future.

Although platforms like Echo have slightly improved this reality, there are still a lot of black box operations behind the scenes of the crypto industry that ordinary investors cannot see at all.

Opinion Leaders: KOL The next level down is KOLs, who usually receive free tokens when a project goes online in exchange for promotional content. KOL financing rounds have become the norm in the industry – KOLs participate in investments and then receive a full refund after TGE. They use their own communication channels to exchange for free chips, and then brainwash their fans, who eventually become their exit liquidity.

Soldiers: Community members and porn enthusiasts

The community and airdrop players constitute the bottom labor of the pyramid. They undertake the most basic tasks: testing products, producing content, and creating activity in exchange for token distribution. But even these activities have now been industrialized: the rewards are getting smaller and smaller, but the work is getting more and more.

Most community members often work for the project for free for a long time before they suddenly realize that they are just outsourced marketing departments of the project party – and after the TGE, the project begins to ruthlessly dump the market. Once they realize this, anger will spread and take up arms. This angry community is extremely detrimental to projects that really want to make products because it creates additional interference and noise.

Leek: Retail investors At the bottom of the pyramid are the ideal retail investors, the exit channel for everyone above. They are fed various narratives and stories, giving a certain asset a meme premium to attract more people to buy, so that the upper players such as the foundation can smoothly ship out.

However, this cycle is different from previous ones, and retail investors have not really entered the market. Todays retail investors are more cautious and skeptical, which has left community members holding a bunch of worthless airdrop chips, while insiders have already cashed out through OTC transactions. I suspect this is one of the reasons why you always see people complaining in the timeline about token crashes or worthless airdrops: because in this cycle, retail investors have not taken much, and the founders have made a fortune anyway.

as a result of The core of the current crypto industry is not about making products, but about making stories – telling a narrative of high illusion of yield to induce others to buy a certain token. Focusing on product construction has become a behavior that is not encouraged (although this is slowly changing).

The entire token valuation system has been completely distorted. It is no longer based on fundamentals, but relies on market value benchmarking for horizontal comparison. The core question of the project has changed from what problem does this token solve? to how many times can it increase at most? In this environment, projects can hardly be reasonably priced or evaluated. You are not buying a company under construction, but a lottery ticket. You must recognize this when investing in cryptocurrency.

The script for selling a narrative is very simple: just create a story that sounds reasonable but is actually unpriced, such as:

“This is a stablecoin project backed by Peter Thiel, and its token can be seen as an indirect exposure to Tether’s equity. The reason why I am optimistic about this token is that Circle has a market value of $27 billion, and Tether’s revenue and profits far exceed Circle’s, and its operating costs are lower. Currently, there is no product on the market that allows you to invest directly in Tether, and this token fills the gap! They are also building an infrastructure similar to the Circle payment network and plan to introduce privacy features. This is the future of finance, with a market value of $100 billion!”

This type of narrative is great if you want your friends to buy a token. The key is to tell the story clearly enough, but leave enough room for imagination so that they can imagine a future with a high valuation.

What’s next? Fixing the token’s market structure I still believe that crypto is one of the few areas that can provide huge asymmetric benefits to ordinary people, but this advantage is gradually disappearing. Speculation is the core product fit (PMF) of crypto and the hook that initially attracted market participants to pay attention to everything we are building. Because of this, we urgently need to fix the entire market structure.

The second part of this article will explore how platforms like Hyperliquid have the potential to completely change the rules of the game.

This article is sourced from the internet: List of characters in Crypto Dark Forest

Related: BlackRock’s Rise: How did it become the king of asset management with a value of $11.5 trillion? Original source: Mansa Finance Edited by: lenaxin, ChainCatcher BlackRocks capital tentacles have penetrated more than 3,000 listed companies around the world, from Apple, Xiaomi to BYD and Meituan, and its shareholder list covers core areas such as the Internet, new energy, and consumption. While we use food delivery apps or subscribe to funds, this financial giant that manages $11.5 trillion in assets is quietly reshaping the modern economic order. BlackRocks rise began with the 2008 financial crisis. At that time, Bear Stearns was in a liquidity crisis due to 750,000 derivative contracts (ABS, MBS, CDO, etc.), and the Federal Reserve urgently commissioned BlackRock to evaluate and dispose of its toxic assets. Founder Larry Fink led the liquidation of Bear Stearns, AIG, Citigroup and other institutions with the Aladdin system (risk…

# تجزیہ# ایئر ڈراپ# کرپٹو# ایکسچینج# مارکیٹ# ٹوکن© 版权声明صف 上一篇 Solana ETF is expected to be approved in July? Can Sol take advantage of the victory to take off again 下一篇 Bullish: The parent company bought 160,000 BTC and made billions in 6 years 相关文章 UNISWAP V4 is about to be launched. Here is a look at the 9 HOOK projects that received $1.2 million in foundation grant 6086cf14eb90bc67ca4fc62b 41,551 2 Eve of Power Restructuring: Political Signals from Davos and the Crypto Industry’s Steadfastness 6086cf14eb90bc67ca4fc62b 10,866 1 2024 میں stablecoins کی "استحکام" اور "عدم استحکام" 6086cf14eb90bc67ca4fc62b 42,560 2 Why are all the top projects betting on “participation in financialization”? 6086cf14eb90bc67ca4fc62b 16,682 Weekly Funding Update | 12 Projects Receive $119 Million in Funding (August 4-10)Recommended Articles 6086cf14eb90bc67ca4fc62b 25,787 3 Matrixport Market Observation: BTC 2025 Conference triggers market fluctuations, ETF fund flows diverge 6086cf14eb90bc67ca4fc62b 29,177 کوئی تبصرہ نہیں آپ کو ایک تبصرہ چھوڑنے کے لیے لاگ ان ہونا چاہیے! فوری طور پر لاگ ان کریں۔ کوئی تبصرہ نہیں... تازہ ترین مضامین Did Jane Street “Manipulate” BTC? Decoding the AP System, Understanding the Power Struggle Behind ETF Creation and Redemption Pricing 18 گھنٹے پہلے 566 Stop Comparing Bitcoin to Gold—It’s Now a High-Volatility Software Stock 18 گھنٹے پہلے 659 Matrixport Research: $25 Billion Gamma Unwinding Imminent, Liquidity Yet to Return Behind the Rebound 18 گھنٹے پہلے 602 ERC-5564: Ethereum’s Stealth Era Has Arrived, Receiving Addresses No Longer ‘Exposed’ 18 گھنٹے پہلے 539 Hong Kong Regulatory Green Light: Asseto Enables DL Holdings to Achieve Compliance for Two RWA Business Implementations 18 گھنٹے پہلے 593 مشہور ویب سائٹسTempoLighterGAIBگلائیڈرپلانکریلزبی سی پوکرووئی Bee.com دنیا کا سب سے بڑا Web3 پورٹل شراکت دار سکے کارپ بائننس CoinMarketCap سکے گیکو سکے لائیو آرمر Bee Network APP ڈاؤن لوڈ کریں اور web3 کا سفر شروع کریں۔ سفید کاغذ کردار عمومی سوالات © 2021–2026۔ جملہ حقوق محفوظ ہیں۔. رازداری کی پالیسی | سروس کی شرائط Bee Network APP ڈاؤن لوڈ کریں۔ اور ویب 3 کا سفر شروع کریں۔ دنیا کا سب سے بڑا Web3 پورٹل شراکت دار CoinCarp Binance CoinMarketCap CoinGecko Coinlive Armors سفید کاغذ کردار عمومی سوالات © 2021–2026۔ جملہ حقوق محفوظ ہیں۔. رازداری کی پالیسی | سروس کی شرائط تلاش کریں۔ تلاش کریں۔InSiteآنچینسماجیخبریں 热门推荐: ایئر ڈراپ ہنٹرز ڈیٹا تجزیہ کرپٹو مشہور شخصیات ٹریپ ڈیٹیکٹر اردو English 繁體中文 简体中文 日本語 Tiếng Việt العربية 한국어 Bahasa Indonesia हिन्दी Русский اردو