midwits

defi summer was the embryonic stage; innovation flourished: ideas were abundant, infrastructure lagged behind & regulation did not exist  

now infrastructure has improved & crypto has entered the scaling stage

ideas are no longer abundant; emergence has slowed: most of the competition today is recycled & retried ideas, simply now at-scale

this has led to a decline in innovation (ie. low differentiation) but an increase in competition alongside better regulation, which has ushered in an era of fragmentation

this is what we are currently seeing  

as the market is captured, maturity is realized, fees are reduced & regulation stabilizes; we will enter an era of consolidation

this is on the horizon 

once growth largely becomes m&a driven, there is little room for new ideas &  ai will predominantly drive emerging solutions

this means, today, at the token level, if you want to future-proof your project, you must front run consolidation

this is best accomplished with a locked flywheel at the network level

defi 夏天是萌芽阶段，创新蓬勃发展：当时创意丰富，基础设施滞后，监管不存在。现在基础设施改善，进入扩展阶段。创意不再丰富，涌现放缓：大部分竞争是循环使用的想法，如今只是规模更大。这导致创新下降（即低差异化）而竞争增加，同时更好的监管带来分散化的时代。我们现在看到的就是这样。

随着市场的占领，成熟度实现，费用降低和监管稳定化，我们将进入整合时代。这即将到来。一旦增长主要由并购驱动，新的想法空间减少，人工智能将主要推动新兴解决方案。这意味着，今天在代币层面，如果你想确保项目的未来，必须在整合前领先。这最好在网络层面通过锁定飞轮来实现。