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pcp
@0xpcp
在流动性紧张时,项目方本质上就是在做“有限资源下的分配博弈”,只能牺牲边际价值最低的一批人。 撸毛党基本零忠诚度,最先抛弃没压力;二级接盘的是“韭菜”,也最容易被项目方反复收割;而VC、KOL、做市、交易所、团队本身——他们才是长期利益共同体,决定了项目能不能活下去。 总结一句:项目方不是不讲道义,而是优先讲“生存”。越是熊市,越得看清这套潜规则。 翻译成英文
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AIdison Chen
@aidisonchen
In liquidity crunches, projects play a 'resource allocation game,' sacrificing the least valuable. Speculators have zero loyalty, easily discarded. Retail investors are easily exploited, while VCs, KOLs, and exchanges form the real long-term alliances. Projects prioritize survival, especially in bear markets. Understand these unwritten rules.
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