Some summary, not investment advice.


2017 is the ICO era, and public fundraising directly replaced VC and PE, so the bull market in 2017-2018 belongs to OG platforms and proxy investment. As long as you grab a share, you can make money.

DeFi is rising in 2021, and the actual market has begun to diversify. As long as you run fast, you can make money.

At that time, IEO could still negotiate with the project party to release a portion of the shares to users, so the general online pricing was low, and buying new rather than old was also a typical feature of this period.

However, IEO compliance in most countries is generally considered to have legal risks, so it can only be airdropped and market-priced, which means that if the circulation volume is large and the opening price is low, the project will perform relatively steadily, such as BB and Lista. However, compared with 2021, the price has risen too fast and there is a lack of sufficient washing process.

The rise in 2024 was initiated by BTC ETF. The smart money in this wave belongs to the king-level projects and hair-raising studios. They love each other and have created a wave of beautiful data together. On the one hand, the project parties can raise more money from VCs (if you observe the top VCs in the market, they are all over one billion US dollars in scale, which will indeed push up the pricing of good projects), and on the other hand, the project parties who have both money and users are full of confidence. There are millions of users on the chain, and it doesn’t matter if they are not on a certain platform. Most of them have to go on CEX. If there is no CEX, there is still DEX. At worst, there is Dex on their own chain.

The trading platform does not have the pricing power, so for projects with high valuations, it is better to look at the fundamentals instead of just the market value. It is better to look at the circulation volume.

Today, the market has indeed changed again. The internal fighting between LuMao Studio and L2 project has turned into a farce, and the LuMao era may be coming to an end. Currently, there are more professional players in both the primary and secondary markets. They have various tools to hedge risks, but they have also expanded the market size. As an ordinary investor, the ICO in 2017, the IEO in 2021, the nesting dolls, and even the LuMao strategy in 2023 may not be suitable for today's market.

Would a lack of VC investment and fewer project parties make the market healthier? In every cycle, there are some projects that go through the bull and bear markets, and there are also countless top-level projects that fail along the way. Whether it is web2 or web3, successful startups are rare, and projects that cross the gap and go through the cycle are even rarer.

The US blockchain bill and Bitcoin ETF fund have been passed. The blockchain era is now similar to the Internet in 2000. As long as you choose the right track and invest in mainstream coins with XDAO technology, you will get dozens or hundreds of times the return in the future... It all depends on whether you can persist.

Investing is risky, so be cautious when entering the market.


~Ming Dao


Some summary, not investment advice.

2017 is the ICO era, and public fundraising has directly replaced VC and PE. Therefore, the bull market in 2017-18 belongs to the OG platform and belongs to agency investment. As long as you grab a share, you can make money.


With the rise of defi in 2021, the actual market has begun to diversify and diversify. You can make money as long as you run fast.

At that time, IEO could also negotiate with the project team to release a portion of the shares to users, so the prices for launches were generally low, and buying new rather than old was also a typical feature of this period.

But now IEO compliance in most countries is generally considered to have legal risks, so it can only be airdropped and market priced, which means that if the circulation is large and the opening price is low, the performance of the project is relatively stable, such as BB and Lista, but compared to 21 years, It still rose too fast and lacked sufficient washing process.

This wave of rise in 2024 was started by BTC ETF. This wave of smart money belongs to king-level projects and Lumao Studio. They love each other and create a wave of beautiful data together. On the one hand, the project can raise more money from VCs. There is a lot of money (if you look at the leading VCs in the market, they are all over one billion US dollars, which will indeed push up the pricing of good projects), and on the other side, projects with money and users are full of confidence, and on-chain There are millions of users. It doesn’t matter if a certain platform is not available. Most of them need CEX. If there is no CEX, there will still be Dex. If not, there will be Dex on your own chain.

The trading platform does not have pricing power, so for projects with high valuations, it is better to look at the fundamentals, not just the market value, but also the circulation volume.

Today, it is true that the market has changed again. The fight between Lumao Studio and L2 Project has turned into a farce, and the era of Lumao may be coming to an end. Currently, there are more professional players in both the primary and secondary markets. They have various tools to hedge risks, but they have also expanded the market size. Currently, as ordinary investors, they use ICO in 2017, IEO in 2021, matryoshka dolls, and even I’m afraid the hair grooming strategy in 2023 is not suitable for today’s market.

Is there a lack of VC investment and fewer project parties, which will lead to a healthier market? In every cycle, there will be some projects that go through bulls and bears, and there are countless king-level projects that fall on the road. Whether web2 or web3, entrepreneurial success is very rare, and projects that cross the gap and cross the cycle are even rarer.

The U.S. Blockchain Act and the Bitcoin ETF fund have been passed. The current blockchain era is similar to the Internet in 2000. As long as you choose the right track and XDAO technology is determined to invest in mainstream currencies, the future returns will be dozens or hundreds of times... See if you can hold on

Investment is risky, so be cautious when entering the market.


~MingDao