Recently saw a message that resonated deeply, in 2022, selling 1080 ETH of Bored Ape NFT, now a regular one has a floor price of 5.21 ETH on OpenSea, suddenly reminded me of those crazy days.
Back then, in order to get a rare attribute monkey, everyone was frantically raising slippage and gas. The most frustrating part wasn't the expense, but at the moment you hit the confirm button, you had no idea if this money was enough. Sometimes the progress bar spun for a long time, and in the end, a failure popped up, with hundreds of dollars in fees going to waste, without even seeing a pixel image.
This anxiety of uncertainty during on-chain interactions is understood by those who experienced the NFT craze. We turned a public chain that should be used for business into an auction where the highest bidder wins. As long as the market heats up, the underlying gas fees jump up and down accordingly. If you really want to bring business logic on-chain, this is extremely absurd. You can't explain to a traditional company why the cost of storing a contract on-chain today has skyrocketed tenfold due to someone speculating on a monkey picture.
This extreme craving for cost certainty makes me feel much more connected when I look at @MidnightNetwork network.
Its dual-token model of NIGHT and DUST directly creates a physical separation of assets and expenses at the protocol level. In this system, NIGHT takes on the role of digital assets, with prices competing in the secondary market. But the one-way ticket actually used to run privacy smart contracts and pay fees is DUST.
The brilliant part is that as long as you hold or stake $NIGHT , the system will quietly generate DUST in the background. This effectively separates speculation from daily consumption. No matter how crazy the external market gets, even if tens of thousands of people rush into the network to grab the launch, it won't break your fixed internal settlement costs. As long as businesses accumulate assets, future operating costs will be a stable constant.
Looking back at those long nights of anxiously watching gas during the NFT boom, and then seeing this design that completely separates financial speculation from business consumption, it indeed makes one feel grounded. Leave the anxiety to the secondary market and return certainty to the real users; this is the fundamental card that the new generation of infrastructure should possess. #night
Back then, in order to get a rare attribute monkey, everyone was frantically raising slippage and gas. The most frustrating part wasn't the expense, but at the moment you hit the confirm button, you had no idea if this money was enough. Sometimes the progress bar spun for a long time, and in the end, a failure popped up, with hundreds of dollars in fees going to waste, without even seeing a pixel image.
This anxiety of uncertainty during on-chain interactions is understood by those who experienced the NFT craze. We turned a public chain that should be used for business into an auction where the highest bidder wins. As long as the market heats up, the underlying gas fees jump up and down accordingly. If you really want to bring business logic on-chain, this is extremely absurd. You can't explain to a traditional company why the cost of storing a contract on-chain today has skyrocketed tenfold due to someone speculating on a monkey picture.
This extreme craving for cost certainty makes me feel much more connected when I look at @MidnightNetwork network.
Its dual-token model of NIGHT and DUST directly creates a physical separation of assets and expenses at the protocol level. In this system, NIGHT takes on the role of digital assets, with prices competing in the secondary market. But the one-way ticket actually used to run privacy smart contracts and pay fees is DUST.
The brilliant part is that as long as you hold or stake $NIGHT , the system will quietly generate DUST in the background. This effectively separates speculation from daily consumption. No matter how crazy the external market gets, even if tens of thousands of people rush into the network to grab the launch, it won't break your fixed internal settlement costs. As long as businesses accumulate assets, future operating costs will be a stable constant.
Looking back at those long nights of anxiously watching gas during the NFT boom, and then seeing this design that completely separates financial speculation from business consumption, it indeed makes one feel grounded. Leave the anxiety to the secondary market and return certainty to the real users; this is the fundamental card that the new generation of infrastructure should possess. #night