Introduction
With the advancement of AI technology, the technical threshold for Web3 products has relatively lowered, thereby intensifying the competition for attention and liquidity in marketing. However, market capabilities have always been an important aspect that most project parties easily underestimate. Based on this, XDO attempts to launch this (Web3 Market Annual White Paper) to report market experiences: to decompose and share excellent marketing design ideas, hoping to assist entrepreneurs and industry practitioners.
In 2025, the changes in market activities are quite clear: project parties are forced to shift from previously over-pursuing 'seemingly prosperous' DAU to pragmatic goals such as transaction volume and TVL, which directly generate revenue data indicators. As a result, the number of activity templates has decreased, and the types of activities have become simpler, leading to a more pragmatic mindset among both project parties and users. Users also begin to pay more attention to the safety of their principal and the certainty of returns, while project parties focus more on obtaining real liquidity, real trading users, and sustainable business growth curves that can be seen by platforms and markets before listing.
In a nutshell, 2025: it is the 'year of new settlement indicators' and also the 'year of entry competition'. As growth objectives shift to 'funds staying/transactions occurring' based on actual interests or value, competition naturally turns to 'who can better retain users' capital-related behaviors within their ecosystem'.
This is also why wallets are starting to be redefined in their strategic significance. Taking Binance as an example, the Binance wallet has gradually become a new ecological entry point: the main site drives traffic, pre-listing project pools, points and tasks link trading behavior into products. Platforms are not just looking for a lively number of participants; they want sustainable liquidity and users capable of continuously generating trades. Consequently, activities are no longer just unilateral subsidies from project parties, but a tripartite interest structure involving the platform, project, and users: the platform uses liquidity and trading users as advantages, project parties exchange tokens and budgets for traffic and trading behavior, and users exchange attention and trading for predictable returns.
But the harsh reality of 2025 is here: as activity expectations become more pragmatic, attention cycles become compressed, and the 'fresh period' for new projects becomes absurdly short. Once TGE is over, market attention towards projects drops sharply, leading project parties to concentrate resources on the launch and sprint before TGE, while continuous operations post-TGE are long underestimated, and Post-TGE gradually becomes a hollow space. Users are perceptive about whether there are ongoing activities after TGE and whether there is sustained activity; however, the reality is that very few projects maintain active states after listing. This is partly due to the limited number of projects with sustainable demand business models, and partly because project parties often do not pay much attention to continuous operations post-TGE. Once a project enters a silence period after listing, it becomes more difficult and costly to bring back users after they have left—this is a warning left by 2025 and a problem that must be addressed in 2026.
A deeper issue is the cultural disconnect: many projects have created beautiful pre-listing numbers but have overlooked that long-term consensus needs cultural and spiritual symbols to sustain it. The relationship between the community and the founding team can easily become a one-time collaboration of 'doing tasks - getting rewards - dispersing', with projects putting in a lot of effort on data while remaining hollow in culture or lacking any community consensus apart from milking profits together and then shorting. Meanwhile, project parties are overly reliant on KOLs, with more and more activities becoming tailored for KOLs, extracting KOLs from the base user group and transforming the community from participants into onlookers. When projects only care about KOL groups, they instead create a sense of opposition with retail investors. Additionally, KOCs (Key Opinion Consumers)—core groups within the community that participate long-term, are willing to produce long-term content, and are willing to disseminate voluntarily—are often overlooked.
This (2025 Web3 Market Annual White Paper) will unfold around three levels:
Review of the most representative market activity types of 2025:Platform-type activities, TVL deposit-type activities, community participation activities, simplified narratives & communication rhythms, and clarifying their respective driving mechanisms and amplifying methods.
Summary of the common shift in mindset between project parties and users in 2025: Users care more about certainty and convertible returns, while project parties view market activities as tools for gaining liquidity, trading users, and pre-listing momentum, while attention cycles shorten, Post-TGE hollowing expands, and cultural and community management is long underestimated.
Looking forward to 2026:How these activity logics will continue to evolve, and the core trends and challenges that project parties need to face head-on.
Thank you for reading this far. If you are not a project party's marketing staff, you can skip directly to Part 3.
Projects that left a deep impression in 2025 marketing
For project parties, as user behavior and psychological states change annually, attention flows and distribution channels also evolve. Therefore, before designing long-term strategic marketing, three things must be clarified. First, what type of users do you want to capture? Second, what benefits can you offer them? (Ideally, this benefit should not overdraw your own token, but be provided by a third party). Jiayi has previously elaborated on how to design the core business long-term marketing strategy of 'wool from the pig's back' for further reading. Third, is it smooth for users to participate in your activities? Are there any bugs that can be exploited? And the art of balancing the interests of the studio and current task indicators.
2.1 Use core advantages to exchange target tokens and other benefits to capture the market, as represented by Binance Wallet's crushing dominance over OKX Wallet to firmly secure the top position.
Wallets that were once passive tools have now become buildable marketing infrastructures. @Binance Alpha is a typical example of a platform capability highly aligned with user motivations, having overtaken OKX wallet through the long-term marketing strategies mentioned above.
Binance Alpha is a true breakthrough innovation in crypto marketing, with the key change being: wallets have shifted from 'asset access tools' to 'project discovery centers'. Binance has placed the entry point for discovering early projects directly into @BinanceWallet. Users no longer need to go to external platforms to find new projects; they can explore projects and gain incentives directly within the wallet. Binance Alpha will prominently showcase projects with momentum, and if a project performs well enough on Alpha, it will also have the opportunity to be considered for spot listings in the future. The entire system forms a positive feedback loop:
Projects want exposure and traffic → users join and receive rewards → projects gain high-matching new users → Binance achieves higher wallet usage rates and more trading activities.
In the Binance Alpha system, the most crucial point is: rewards are given to those who can truly trade, bring liquidity, and are willing to pursue new projects. Binance's advantages are liquidity and user volume, while Alpha merely transforms these two advantages into a more efficient distribution channel while further squeezing the survival space of second and third-tier exchanges.
Project parties issue tokens as costs → exchange for exposure and traffic from Binance, striving for liquidity + further listings.
Binance guides users through wallets → users generate trading behavior.
User transactions and task completion → exchange for rewards → simultaneously contribute trading and liquidity to the project.
Binance needs to maintain a user structure that can generate trades within Alpha, and as projects develop, the user structure is also changing, so it must continuously optimize mechanisms and activities to allow core value users to win effortlessly.
2.2 Shifting from being entirely centered around KOL marketing to emphasizing overall community cultural building—from Kaito to Sahara's different volume marketing strategies.
In the first half of 2025, an innovative project focusing on public domain traffic attention, @KaitoAI, emerged, and most project parties began to center their marketing efforts around Kaito activities. However, Kaito's incentive structure originally leaned towards 'whoever has the most influence is easier to be seen and rewarded'. Thus, market promotion formed a fixed path: projects want volume, collaborate with KOLs, KOLs produce content, and ordinary users observe. The whole process can indeed be lively for a while, but retail community participation feels weak, and the collective memory of the project is seen as an advertisement for KOLs to obtain airdrop awareness. Consequently, the traffic of project parties is initially aggregated to the Kaito platform. From Kaito's perspective, Kaito is undoubtedly successful, as it adheres to the core principles of strategic activity design I previously mentioned.
UGC's conversion from third-party platforms to its own platform began with XDO's client @SaharaAI starting an ICO on @buidlpad. Its starting point for UGC is 'to let the community engage and benefit before the project issues tokens'. Sahara's UGC activities do not rely on distributing money, do not require users to complete tasks, and do not set various leaderboards. Instead, they first throw out a cultural symbol that can clearly represent the Sahara AI community and brand—mascot Bitsy (the big ears in my current avatar represent Bitsy, which is so cute that I still use it). This, combined with the timing of Sahara's ICO on @buidlpad, encourages community evangelists to participate better in the early ICO qualification. This group no longer only focuses on free tokens but is also composed of those who have a high level of trust in the project.
You will see many users not just completing assignments but sincerely expressing themselves as members of Sahara. Some use AI to make videos, some draw, some write serialized novels, some create promotional music and shoot MV for the community, while others even handwrite diaries daily, recording their moments in the Sahara community and why they love Bitsy and the Sahara AI team. When users are willing to document their stories of building this project through diary writing, it indicates they have integrated the project and community into their personal life stories.
The results are also quite impressive.
In this UGC activity, the main force has shifted from the KOL group to ordinary community users. The KOC users I mentioned earlier played a significant role in this activity. Sahara AI's UGC content is no longer concentrated in the hands of a few; the community has begun to spontaneously produce and disseminate it.
The community now has a common language, common symbols, and shared memories with the Sahara AI team. The mascot Bitsy has become a meme and identity symbol understood by everyone; whenever they see the yellow big-eared fox, they know it is Sahara AI. Discussion costs have decreased, and dissemination speed has increased.
The real data driven by the spread of community emotions has propelled the activity topic #AIforALL to the second place on Twitter's trending list, and the entire activity has engaged 330,000 users, with Sahara's fundraising on Buidlpad exceeding its original goal by 700%.
There are certainly users engaging in volume manipulation. However, the final rewards were for ICO participation qualifications, and the team manually screened every UGC creator's content. Thus, the ROI is extremely high, and based on this result and innovation,the ICO UGC activity has also been continued as a regular segment by Buidlpad..
However, Sahara AI also has a regret: Sahara's UGC activities managed to ignite the community for a month, but subsequently lacked sustainable cultural extension, causing the enthusiasm to fade away. This is a common problem for many projects; they can ignite but not sustain. Although Sahara has proven to the market that culture can retain users, only continuous cultural output and community mechanism management can create a 'religious' firewall to become a long-term moat. Cultural continuity post-TGE must continue and even require more effort.
2.3 Simple slogans + precise rhythm control = beautiful emotions before token launch; marketing rhythm control for projects like Sign and Kite (To B, weak community perception, difficult to sense product).
@sign, through the slogan 'Sign Everything', has built a Web3 orange dynasty. The goal of Sign's rhythm is to first strengthen the core group, using the simplest slogans to brainwash users into equating Sign with major projects. It's important to know that for the market, Sign does not belong to the category of projects that can be quickly established as 'kings' through technology or product narratives. The founder @realyanxin once said: 'The important thing is whether we can enable 100 people in our community to earn seven figures.' He also mentioned that after TGE, the foundation will support internal entrepreneurship in the community with tokens, essentially making the community recognize that 'following Sign can lead to profits; TGE is not the end, but the beginning of the next stage.'
I still remember the time when Sign was trending high; Yan Xin and the community's official Twitter interactions with users were very frequent, and they would prioritize interacting with those whose Twitter profiles contained Sign elements. This gave users a clear feedback: as long as you participate earnestly and are 'one of us', you will always be seen by the officials (see the sign). Being seen increases the chance of becoming one of the community members who earn money through Sign. The dissemination of Sign resembles running water; everyone does some simple things together, then the officials provide ample affirmation, the community shares tweets and helps each other with likes, and users optimize and package their accounts, gradually forming a positive feedback loop where the more users participate, the more likely they are to be seen, and the more willing they are to continue participating.
Another example is @GoKiteAI, which uses extremely simple keywords and precise rhythms to convey project value to ordinary users, quickly aligning community cognition. Kite, as a public chain born for payments in the AI era with AI technology as its core advantage, is most worried that project parties do not communicate well. Users cannot see your differentiated value. Moreover, early public chains in the cryptocurrency industry that didn't communicate effectively would cause users to FOMO, but that era has long been eliminated.
Kite's first phase rhythm, by letting everyone see names like @PayPal Ventures and @generalcatalyst, reduces uncertainty while providing initial credibility anchors, allowing users to complete the most realistic judgment in their minds: if even the king of the payment track, PayPal, is willing to heavily invest in Kite as a bet on the AI payment track, it at least shows that the team's technical capabilities are reliable and that capital resources are strong, thus amplifying the possibility of becoming a leader.
The second phase rhythm is that Kite AI has aligned its story with the payment standards that the AI payment industry must unify, making it easier for community users to understand what it is doing. Kite is very clear that the narrative of the AI Payment Chain is inherently difficult to tell; if it obediently explains to users 'how AI agents pay, how settlements work...', most people will not understand or have the patience to comprehend. Therefore, Kite first helps you believe that the project is on the path that the mainstream will take. Kite leveraged the buzz around 402 and PayPal, sequentially releasing information within tight timelines, including collaborations with 402 & investment from @coinbase, and collaborations with PayPal. By pushing x402 towards the direction of a universally accepted standard for AI-driven payments through Coinbase, and speculating on which major companies might become its clients before officially launching online, Kite creates imaginative space. When everyone sees Kite associated with these mentioned names, they can naturally guess and feel assured about the project's layout capabilities.
Kite AI has lowered the cognitive cost for users. The community no longer needs to read white papers, nor do they need to study technical details; they just need to see a few news articles to start trusting Kite AI.
2.4 Shift in behavior mining design - how to turn 'liquidity' into 'participation' in projects like Plasma and other yield-generating initiatives.
In 2025, TVL-related yield projects surged, with many locking activities emerging, but very few projects can truly convert 'liquidity into participation and retention'. However, those with excellent deposit activity effects generally combine staking + token issuance expectations, collaborating with liquidity giants to quickly achieve FOMO effects. For instance, @Plasma and @zerobasezk first attracted substantial liquidity through activities in Binance, then pulled this liquidity into their own ecosystem to form deep participation; this is the soul of their market design. Additionally, Buidlpad's HODL—depositing to exchange for ICO quotas & lower valuations of series project activities also achieved very good results.
The starting point of the Plasma strategy is to attract users by promoting stablecoin behavior in the ecosystem. Plasma has collaborated with Binance Earn to launch on-chain USDT yield products, where users can enter the $XPL airdrop range by participating in the USD₮ regular lock-up of Plasma. This design is not a one-time event; rather, it is based on a daily snapshot + time-weighted holding cumulative rewards mechanism, where holding for a long time and having a higher position will amplify the final XPL rewards.
At that time, the entire market's TVL projects were densely packed, and many projects appeared to have 'high' subsidies but were still designed around 'who can rush to the finish last'. Plasma's design is time-weighted— the earlier you deposit, the longer you hold, and the more you lock, the more your contributions are real, quantifiable, and calculable, leading to a shift in behavioral incentive structures: Plasma determines allocations based on the cumulative weight of locked contributions. This allows retail investors to truly feel that even if they deposit 10 U, they can receive equivalent $XPL returns, significantly lowering the participation threshold for small amounts, attracting numerous retail investors with high subsidies + TVL designs.
Zerobase also establishes a connection with the Binance Wallet first, allowing users with high Alpha points to participate in priority allocations in the Booster Program. This design also uses the exchange's own points and traffic mechanisms to attract users initially, and then leverages points contribution/transaction behavior to form real distribution rights, ultimately bringing liquidity into its own ecosystem. Similar to the above-mentioned Plasma, they both emphasize user behavioral thresholds in activity design.
Note: This article discusses the effects of activities more, but excessive reward airdrops will inevitably have some impact on secondary existence. Our industry has long entered a cycle where both doing business and market making are crucial.
Both Plasma and Zerobase's designs indicate that:
Capturing liquidity at the exchange entry is fundamental—cooperating with Binance, such deep traffic channels are the premise for the explosion of market participation.
Transforming TVL/behavior into calculable rewards—genuinely linking the reward formula with revenue contributions.
Strategies in the secondary market cannot be ignored—the incentive design of Plasma's spot trading ensures that liquidity does not just remain in locked data, but stays within the real market ecosystem, forming a stronger value cycle.
2025's common shift in mindset between project parties and users.
Change 1: Activity KPIs have shifted from 'DAU' guidance to 'long-term profit contribution' guidance, focusing on core revenue scenarios and sustainable behavior incentives. Simply using subsidies to stimulate activity and not measuring profit recovery has become outdated.
The '100 billion subsidy' market logic was extremely crazy in the last round, with project parties luring users in through airdrops, subsidies, and tasks, making DAU look very appealing. This last round of public chain cycles also created a period of 'on-chain prosperity', but many activities do not correspond to real demand scenarios, nor do they correspond to sustainable revenue and retention.
Thus, in 2025, the market reawakened to the realization that:
DAU is no longer the goal and can no longer prove value on its own.
The goals of activities have been directly grounded in sustainable revenue scenarios.
This transition is forcibly solidified by platform rules and activity structures: in addition to the previously shared logic of obtaining Alpha Points based on 'asset balance and Alpha trading behavior', this essentially anchors the value of activities on the tradable early asset liquidity and trading behavior.
This is also seen in the growth structures of Perp DEX / staking-type FI (such as prediction markets), where most project parties' incentive mechanisms follow the path of 'trading volume/deposits → points → rewards', with users either earning points by depositing funds or through continuous trading, with the core of the activities being to exchange trading and capital occupation for future rights or rewards.
The evaluation methods on the user side are also changing synchronously: because the anticipated altcoin bull market did not occur in 2025, participants naturally place more importance on 'principal risk' and 'return certainty'. When users evaluate activities in 2025, they usually look at:
Is the principal safe (will it be clawed back, are the rules tricky, is the exit smooth)?
Is the return calculable (is there a guarantee, is the realization predictable)?
What remains after subsidies stop (product retention, revenue logic, long-term demand)?
The activity design of trading as mining first emerged seven years ago at an exchange called Fcoin, quickly seizing a large share of the market and even shaking the structure of exchanges in the short term. However, due to a large number of wash trades leading to a secondary market collapse, insolvency, and the team's exit, it came to an end. Trading mining is an effective market capture activity, but very few projects can understand or have the strength to sustain it long-term.
Change 2: Attention cycles have shortened, and project parties and users have entered a vicious cycle of rapidly issuing tokens for monetization.
Attention is not just a problem in the crypto space; it is also a visible change at the societal level: from long videos needing fast-forwarding to short videos being hard to finish; long articles become increasingly difficult to read completely, just like this article.
The cryptocurrency space is a microcosm of the real society affected by capital and time effects, as industry narratives update quickly and project lifecycles are short. Consequently, the attention cycle for projects has been further compressed to extremes, where new projects can become 'old projects' in just two weeks. Both project parties and users have formed a default consensus: the days when TGE occurs are often the best times for liquidity, so everyone's attention is concentrated at the same point in time. Project parties focus on Pre-TGE data, users focus on cashing out during TGE, and platforms focus on trading volume, ultimately leading the entire industry to become a 'top-heavy' structure—extremely crowded in the first half, and long-term hollow in the second half; the first half relies on marketing efforts to capture the attention of exchanges to meet obligations, while the second half realizes profits through the secondary market. This type of mainstream operation is destined to trend towards the nullification of altcoins.
The consequence is that everyone quickly turns to the next TGE after it occurs, with Post-TGE being systematically abandoned. Project parties lack motivation for long-term operations, and users have even less reason to stay. The appearance of daily new projects in the market hides the fact that liquidity is merely circulating among different pools, while new narratives, products, and scenarios that can truly drive mass adoption are becoming increasingly difficult to develop.
For project parties, maintaining community relationships continuously, keeping users retained, and forming a positive business model should be as important as TGE, if not more so, rather than burning all budgets at the moment of TGE. Because once users scatter after listing, the cost to bring them back will be extremely high; this is the biggest hidden danger I noticed in the market rhythm of 2025.
Change 3: The overall scale of crypto is increasing, but the initial spiritual belief that many came with has disappeared—the 'number of listed coins' has squeezed out the 'spiritual symbols'.
In 2025, many project marketing actions increasingly resemble a pure 'numerical engineering': points, leaderboards, tasks, and subsidies can be scheduled weekly, KPIs can be reviewed daily, and growth can be broken down into funnels. However, founders talk less about dreams compared to before and are less willing to spend time clarifying 'who we are, why we exist, and what needs we want to address'. The community and the team also become two separate language systems—the team is only responsible for pushing data up, while the community only completes tasks to earn rewards.
After the absence of spiritual symbols, it becomes challenging for participation to solidify into a sense of belonging. Behind every great business lies a symbol of cultural revolution. Blockchain, BTC, ETH, and Binance have all achieved today's success because of this cultural consensus. However, today, the paths that successful individuals took have been quickly forgotten by entrepreneurs and the market.
This is also the pit I observed many projects falling into in 2025: they invested significant effort at the beginning to generate volume and participation but lacked sustainable mechanisms and rhythms, finishing one round and assuming 'culture has been established', then leaving subsequent growth to the community. The reality is that culture is different from data.
It is not a one-time spike that will automatically compound; rather, it is more like a 'repetitive labor'—you must continuously provide the community with a reason to participate, a symbol that can be retold, and a scene that can solidify identity. The ROI may initially not be very attractive; many things require persistence and what seems 'unwise' but can catalyze substantial power in the long run. Yes, I want to mention again how Binance became the first exchange to propose returning profits to users after the 94 Chinese government's crackdown on exchanges, which led to hundreds of global users eventually becoming Binance angels, the core spark for Binance's internationalization.
Change 4: Over-reliance on KOLs → disconnect from retail investors; KOCs (Key Opinion Consumers) are overlooked.
In 2025, I saw many project parties mistakenly think that 'the market' = 'KOL'.
It seems that as long as the top players are bought, topics are filled, and popularity is piled up, users will naturally stay. However, KOLs ultimately serve as significant channels for voice amplification; they can amplify the sound but do not equate to building relationships. They can elevate emotions but do not equate to leaving consensus. When projects allocate resources and benefits exclusively to KOLs, ordinary users naturally develop a sense of detachment, feeling that they are merely there as liquidity, as data, or as a backdrop. Once this psychology takes shape, activities will transform from 'closing the distance' to 'creating opposition'.
Aster's recent Human vs AI trading competition is a very intuitive example: the official event itself is a 'quota-based' funded trading competition where not all users can directly sign up, but rather watch a group of KOLs trading, even witnessing a ridiculous yet inevitable scene of 'making a $10,000 arbitrage' exit. Such activities are certainly strong in dissemination, easily forming dramatic conflicts, but they also amplify a problem—when the main stage of activity only belongs to a few, retail investors naturally lack a sense of participation, often leaving behind discussions that are merely 'watching the excitement', rather than strong links relevant to users.
KOLs are an important part of the industry, but their value became exaggerated in 2025. Many projects mistakenly believe that doing marketing is simply developing KOLs, ignoring that the real catchers of public domain traffic are KOCs—KOCs may not have the largest exposure but are definitely the most stable supporters, organizers, and long-term participants within the community, even penetrating into other communities. They can sustain the heat of an activity into a routine over time, and can redirect discussions back to constructive directions when projects encounter fluctuations and doubts.
KOLs are very important community representative partners. However, activities must prioritize users, especially not neglecting the power of KOCs, treating them as core assets to manage and creating mechanisms for their identity, participation pathways, and long-term material and spiritual incentives.
2026 marketing trends and challenges.
My thoughts on the marketing trends for 2026: A bull market driven by national and traditional capital giants will find it difficult to enter the altcoin market; attention will be even more fragmented, and the ROI of marketing focused solely on public domain traffic will approach negative numbers; the era of AI makes it harder for projects to differentiate themselves technically and product-wise, while the homogeneity of content created by 'universal creators' on X will gradually make users lose interest; more open regulations will give rise to more competition for attention in other public and private domains.
Based on this, I believe 2026 will be a return to simplicity:
1. The market will continue to compete for subsidies before TGE.
2. Low market value projects that allow heavy community participation before TGE, with activity designs that bring profit and can cycle for the long term, will become the mainstream operational strategies of successful projects.
3. Users will rely on trust and co-building trends for large results (a beautiful wish, but I believe some project parties will have an epiphany).
4. Private community management will be valued again.
Purely sharing with the pioneers moving forward in this chaotic market.
In a fiercely competitive and chaotic market cycle, becoming the next unicorn is exceptionally difficult. Thus, I would like to share a timeless example of market operations from the great Binance, hoping to provide everyone with tangible hope.
Do not forget that in the market environment when Binance was established, it was generally considered difficult to produce the next centralized exchange giant; do not forget that Binance also experienced the awkward situation of launching without any users.
$BNB was first issued at a valuation of 20m during its ICO in July 2017, with 50% allocated for public sale. When enough chips were given to retail investors from the start, they had the motivation to treat themselves as 'shareholder users' to follow the project (low open high rise). Of course, the results are evident; Binance did not disappoint anyone, quickly establishing itself as the leading exchange and providing thousands of times of returns for holders.
Binance captured the market by gaining user trust and strong PMF business capabilities. In 2017, with 94 exchanges being shut down and Chinese exchanges being completely banned, Binance quickly made the decision to shift its operational focus to overseas markets and chose to buy back tokens at high prices amid severe market panic while most projects opted for rug pulls. This is how Binance formed a religious-like grassroots community of hundreds of global angels that project parties cannot imitate. From then on, Binance became their faith. Thus, Binance began its journey of rapid penetration into local markets across the globe, transforming from a 'Chinese exchange' into a global exchange.
@cz_binance and @heyibinance, the two co-founders, are unburdened in their entrepreneurship and very clear that becoming KOLs is the most cost-effective marketing. They frequently voice on social media, maintaining high exposure and communication, coupled with regular AMAs and deep community engagement, truly achieving a dual approach to public domain traffic and private domain management (angels).
Binance has developed for 8 years, and I still believe that the biggest trust crisis comes from the previous massive hacking incident by North Korean hackers. CZ promptly faced the market with an AMA, and SAFU subsequently became a cultural symbol. This textbook model of crisis public relations is something many project parties still haven’t learned today. Market operations can sometimes be particularly simple; it's not about whether one can do it, but rather whether one wants to do it. I have given many project parties effective suggestions. Unfortunately, the projects that ultimately fell into big pits did so because they were not brave or decisive enough.
The growth of Binance Exchange into the world's largest exchange is a positive spiral that complements the rise of BNB. The story of BNB is not just 'the coin has risen, so it is successful', but has also transformed 'holding' into a reason for 'using': fee discounts, consumption and rights within the platform, and continuously providing holders with clear return expectations, leading to BNB chain gas growing into a dominant mainstream token today. These mechanisms ensure that tokens are not only trading targets but also leverage the wealth effect of BNB to attract new users and deepen support, pulling user behavior back into the platform ecosystem; as the platform strengthens, the usage scenarios of tokens increase, the willingness to hold tokens strengthens, leading to a scenario where people are reluctant to sell BNB for fear of missing out. This has transformed it into today’s mainstream token, enabling many who were originally just buyers to gradually become more frequent users. From 'buying coins' to 'using coins', and then from 'using coins' to 'holding coins'. When holders continuously gain returns from usage scenarios, the platform's trading and cash flow can also be expanded; a stronger platform will, in turn, reinforce everyone's confidence in BNB—this is what I consider to be an excellent positive spiral of 'product growth ↔ token value' pushing each other forward.
