2024 is the year of the awakening of the leeks, and the emotional outburst of users who have suffered from Qin for a long time. Although blockchain has been developed for 15 years, the development of the decentralized world has not become fair, free, and autonomous as Satoshi Nakamoto envisioned. Project owners and capital hold a large number of low-priced chips, and through endorsement narratives, they harvest a large amount of funds from users. The right to speak is once again concentrated in the hands of a small number of elites.
Many people joke that we are in an era of "no takeover", where institutions are unwilling to participate in community-led projects, and users are no longer willing to take over narrative projects endorsed by institutions. The MEME coin track has moved from a niche track to the center of the Web3 stage. The concept of fair launch has been deeply rooted in people's hearts and has become the top narrative of Web3.
So, what is a fair launch? In a nutshell, no one can own a token at zero cost, and all tokens have the same conditions for acquisition, whether for project owners or users. This mechanism effectively prevents a small number of people from having "super powers" and returns the value discovery of tokens to its essence - consensus.
I met the founding team of pump.fun in Hong Kong in April. At that time, their data volume had not yet grown. Their VC valuation was 14 million US dollars, but the financing was quite unsuccessful. VC scoffed at this fair launch mechanism. In the final analysis, it was unprofitable. But the final result gave those VCs a loud slap in the face. The success of pump.fun proved that the world of Web3 is very different from traditional finance. The leeks of Web3 have awakened and are no longer puppets at the mercy of others and leeks waiting to be harvested. "Community consensus" is the driving force behind the development of Web3.
The protocol I am particularly optimistic about is Burve Protocol, and their new generation product Burve dAPP. As an early code contributor to the Ethereum Foundation, I have the honor to witness the development of the Web3 era. In my opinion, the birth of a new era must be backed by innovations at the protocol layer.
The first shock that Burve Protocol brought to me came from their paper: "EXPLORING THE VERSATILITY OF BONDING CURVE MODELS IN DECENTRALIZED FINANCE: A HIGHLY SCALABLE MARKET Maker Model for Digital Assets".
This paper deeply explains how Bonding Curve can bring a new mechanism revolution to the entire Web3 world. Friends who are interested should definitely take a look.
So, let’s take a look at the innovations that Burve Protocol can bring and what’s interesting about Burve LOL.
The relationship between users and project owners is no longer that of "sickle" and "leek"
Although there are many projects advocating fair launch, I would like to ask a question: Is the so-called "fair launch" really fair?
This reminds me of a very famous utopian novel "Animal Farm". In this novel, pigs finally replaced humans to form a new ruling class and continued to exploit other animals. The dragon-slaying boy eventually became a dragon, and the kind and simple people were eventually oppressed.
The key to this issue is: if the relationship between Web3 project owners and users cannot be changed, all so-called "isms" will eventually become tools of evil.
I was deeply inspired by a concept proposed by Burve Protocol. If you want to truly realize "fairness", you must change the relationship between users and project owners. The success of the communist revolution in the 20th century came from "equality between officers and soldiers" and the purpose of "serving the people." The same is true for Web3 project owners. Their purpose should be to serve users, not to covet users' principal.
Burve Protocol has two characteristics. The first is that there is no longer a concept of liquidity ownership. All coin holders are the owners of liquidity. Smart contracts ensure that no one can withdraw the pot, and the ownership of the pot belongs to all coin holders.
Secondly, the way for the project party to obtain income is no longer by selling early tokens to cash out, but by obtaining funds through transaction taxes. If the project party wants to obtain more income, it must operate the project well in order to obtain higher taxes. Such a mechanism ensures that the development of the project is healthy and sustainable.
This is easy to understand. If we regard the current country as a project, the government manages the country in a democratic way and obtains taxes from the people for the development of the country. The people support the government and live and work in peace and contentment under the leadership of the government, making money to improve their lives. If the government is like the current Web3 project, it would have been overthrown long ago (I am not targeting anyone, most of the current Web3 projects are feudal remnants).
Therefore, by using Burve Protocol to launch project tokens, the relationship between the project party and the user is no longer that of "sickle" and "leek", but has become a relationship of comrades-in-arms, making the development of the Web3 project no longer a zero-sum game, but a joint venture.
Let us look forward to Burve ProtocolL leading the new trend of the times.