Hi, everyone! Building in crypto is not easy. A product that would be built in private with just a few investors to answer to, in crypto is built in public with hundreds or thousands of investors expecting results.
In this clip:
- The crypto space is difficult to build in
- Projects with small market caps have yet to see the impact of the bull run
- Anyone can invest in crypto startups in a way only a few can in a traditional market
- Crypto, like anything else, works 24/7
I recently made a thread talking about how people like Matt, Splinterlands' leader, have to build in a public environment and become a CEO even when it's not in their nature, and have to be exposed to all the negativity and frustration of others while still keeping working and building the best product for that same community.
Building in this space is very rewarding but also very challenging; we have to build not only a product but a whole ecosystem around it and the tokenomics of it, caring for the performance of the project as a product and of the token it is tied to.
The community here plays a role that they do not play in other business models. Anyone can invest in the project in a permissionless way, in any amounts, 24/7. That is an opportunity to invest in a project early in its lifetime that the average person can't do with traditional businesses.
As a community, we could attack the leaders of a project and make their job even harder than it is, maybe causing them to quit, or we could be kind and supportive, helping them improve the project so we can all enjoy the benefits when they come. Be kind.
Posted Using InLeo Alpha
Splinterlands has fantastic devs behind. The community embraces them and support their decisions.
Once the community believes in the vision of the leaders, success is inevitable 🐉
I have never attempted anything as large and complex as what you have done here with Inleo.
But I did experience many of your feelings on a smaller scale perhaps with my Projects the No Loss Lottery and Easydefi, as I used those projects to help people invest in Cubfinance and Polycub, and I continued those projects for over 2 years and one year experiencing all the stress of the bull and then bear market, not to mention what we now know to be the pre-determined demise of inflationary defi projects like Cubfinance and the paradoxical demise of the deflationary project Polycub.
As the project creator responsible for the funds of anywhere from 50 to 100 inbestors in each project, which at one time numbers 4 different investment vehicles, I think it's the most stressful thing I have done in this space.
But I feel good about the way I ended it, by refunding all the tokens to people despite the losses because buying the tokens during the bear to return to people their exact number of tokens was doable. You have been my model for insuring people are made whole as much as possible, at least in returning their tokens, but not being able to control the value of those tokens or their earnings.
But I think your latest project, paying transaction fees in various tokens could be the most successful project I have done yet. But the wounds are still fresh, so I am not rushing to reopen the project.
In a decentralized ecosystem people still have the sense of an entitlement without responsbility. Responsibility is implicit in decentralization. It's easy to mock and criticize leaders, and go for an unqualified rant. But the truth is that everyone is an owner in decentralized space. That implies the end users shoud be a part of the solution, should not be a part of the problem. Qualified criticism is always welcome but it should not be a deliberate ploy to attack leaders/developers.
We need to be supportive
Great works mate. Anything in this space or more so online media is a challenge as it deals with global populations all with different cultures and ways of doing things. You guys are doing well.
We need innovators and leaders and visionaries... because the vast majority of us aren't. And — to be honest — I'm glad it's you building the community, not me. Been there, done that (in pre-blockchain days) and I know it's a thankless job where people are often more prone to reach for the complaints than for the compliments.
So keep doing what you're doing!