running fast nowhere

Crypto projects that build for attention and an eventual token launch tend to stagnate after launch, the author writes, with the team's focus shifting to price rather than product. The piece says builder culture ranks novelty above usefulness because attention, and ultimately the token, is the end product. It adds that building for everyone signals engagement but ends up building for no one, and that builders who stay through launch are left in insecure positions when teams offer little confidence or transparency. The piece suggests that after a correction, the projects left standing would be incumbents in areas of real need, such as stablecoins, payment rails, wallets and developer tooling.