If the next bull market is really a meme super cycle, the coin-making industry may be very difficult to endure.
First of all, the Restake track is basically dead. Except for ETHFI, there is almost no big coin to make. Look at Puffer, even Justin Sun was screaming after cutting his stake. Do you accept it? 😅 Sun pledged 58,000 ETH, but only got nearly 4 million tokens, worth about 1.3 million U, and the yield in almost 8 months was only about 1%. This yield is really "sour"!
What is left in this track now? Swell, StoneStake, Karak, Symbiotic, Zircuit (barely counted) are a bunch of projects. To be honest, they have basically no future and are probably worthless. Most of the participants should be very disappointed with the returns, right? The decline of ETH is too large and it can't hold up at all.
The concept of re-staking is a very stupid narrative. Think about it, according to the first principle of human nature, who do you get the income from re-staking? Isn't it just another variant of Defi mining, withdrawal and sale, except that "daily mining, withdrawal and sale" is replaced by "quarterly withdrawal", there is no essential difference.
There is no innovation in the re-staking industry. Everyone is just constantly reinventing the wheel, and the more they reinvent, the more disappointed they are. I really don't see anything that can break the status quo.
At present, it seems that the value of only two things in the entire industry has not been overturned: BTC as a store of value, and the casino effect of meme coins. Among the others, Infra, public chain, DeFi, GameFi, which one can really take off? In the end, funds will only flow to meme and create more meme coins. Don't go down one road to the end, try other opportunities, don't stick to one track.
