Since the birth of the self-encryption field, although market cycles and hot narratives continue to evolve, one core idea has remained unchanged: the decentralized fundraising model. From Bitcoin's mining mechanism to Ethereum's ICO, and now to DeFi's liquidity mining, we have now entered the era of AI Agents, constantly exploring various forms of asset issuance in a community-oriented way.
This model has its pros and cons. On one hand, most projects may ultimately fail, but on the other hand, the few successful projects that can survive in fierce competition often become the most representative achievements in each cycle of the crypto field. For example, projects like BTC, ETH, UNI, and AAVE are classic cases that have emerged from past cycles.
Today, with the arrival of the AI Agent era, although most projects may be eliminated, those high-quality projects that can withstand market tests are likely to become the most iconic achievements of this cycle.
