đ˝ Multicoin: Ethereum and Solana are losing their edge
It used to take $3 million, five developers, and six months to launch your own exchange. Now, a founder can build most of it over a weekend with the help of AI.
The main point: code is no longer an advantage. A new project is easy to copy, and an app is easy to move from one network to another. So Ethereum and Solana are less helpful to projects than they used to be.
Whatâs valuable now, in the authorâs view:
1ď¸âŁ Customers: users who already have money on the platform and wonât leave for a copy
2ď¸âŁ Capital: money that can cover losses. AI canât create it
3ď¸âŁ Unique data: proprietary information and experience assessing risk
For example, more than $6 billion in usersâ USDC is held on Hyperliquid. About 90% of the revenue from it goes toward buying back the HYPE tokenâaround $185 million, according to the authorâs estimate. Itâs not code that pays; itâs customers and capital.
What this means for you: when choosing a project, look not at its technology, but at whether it has customers, money, and data. Soon, AI will give anyone everything else.
đĽ Free course on making money in crypto
It used to take $3 million, five developers, and six months to launch your own exchange. Now, a founder can build most of it over a weekend with the help of AI.
The main point: code is no longer an advantage. A new project is easy to copy, and an app is easy to move from one network to another. So Ethereum and Solana are less helpful to projects than they used to be.
Whatâs valuable now, in the authorâs view:
1ď¸âŁ Customers: users who already have money on the platform and wonât leave for a copy
2ď¸âŁ Capital: money that can cover losses. AI canât create it
3ď¸âŁ Unique data: proprietary information and experience assessing risk
For example, more than $6 billion in usersâ USDC is held on Hyperliquid. About 90% of the revenue from it goes toward buying back the HYPE tokenâaround $185 million, according to the authorâs estimate. Itâs not code that pays; itâs customers and capital.
What this means for you: when choosing a project, look not at its technology, but at whether it has customers, money, and data. Soon, AI will give anyone everything else.
đĽ Free course on making money in crypto
