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A New Framework For Identifying Moats In Crypto Markets 

While we have numerous precedents and heuristics for understanding moats in traditional markets, we lack equivalent frameworks that account for these structural differences. 

> This piece aims to bridge this gap by getting to the root of what constitutes a sustainable moat, and downstream of this, identify the handful of apps positioned to sustainably capture value

Currently, most applications in the TON ecosystem face issues with quality and sustainability, and the user base primarily consists of low-value users. Applications focusing on simple game mechanics and primitive token farming show limitations in long-term user retention and value creation.