$AMB Cleaning up and reshaping the existing financial system, the evolution path of the crypto-financial market is particularly thought-provoking. From the disorderly carnival of ICO to the seemingly standardized era of VC at the helm, every transformation of the market is accompanied by profound lessons. From 2017 to 2018, ICOs were rampant and the market was in urgent need of purification. Investors then turned their trust to VCs, especially internationally renowned VCs, but this transformation did not bring the expected order and progress. VCs' long lock-up period, high valuation bubbles, and complex entanglements with various forces have gradually eroded market confidence, and retail investors have repeatedly become buyers. To this day, VCs such as a16z, which were once surrounded by halos, cannot escape the crisis of trust.

In contrast, in the current bull market, most of the success stories are Meme coins. They are centered on the community, bypass the traditional VC model, achieve full circulation, and show the possibility of another kind of vitality. The phenomenon of directly rewarding Meme coin bloggers in the SOL ecosystem is, to some extent, a return to the ICO spirit outside of smart contracts, which once again proves the power of decentralized communities.

This round of market fluctuations is a profound reflection on the VC-dominated model. Although the world's top exchanges are facing tightening regulation by the US government, the cryptocurrency market is tending to be centralized and convergent with the US stock market + exchange Junyang: 954737157, but this is not the end. The innovative nature of crypto finance will not be extinguished by the intervention of external forces, but may inspire deeper changes. People's cognitive changes will drive a new wave of resistance, opposing the financial order controlled by VC and Wall Street, and pursuing a more transparent, fair and decentralized financial system. The birth of blockchain technology is a profound response to this kind of injustice, and our nihilism and disgust are the inexhaustible driving force for this process.

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