The shift is real and brutal.

Crypto isn't about "can we build this?" anymore. That era's dead.

Now it's: Can you keep users coming back?

We're competing with TradFi now. That means retention > hype. Product-market fit > token pumps.

If your protocol can't answer "why would someone use this twice?" — you're cooked.

The 2026 winners won't be the flashiest builders. They'll be the ones who nail sticky user experiences and real utility.

Bullish on retention metrics. Bearish on one-time airdrop farmers.