Ethereum
$592.35 -2.97%
ETH · 18w

Staking SHIP (20% APY for validators) on the Shipchain mainnet starts this week

ShipChain Mainnet launch in July. Builders will win this race.

Q2 2020 looked like the end of a cycle and the beginning of the next one in the crypto sphere.

Looking back at 2017–2018 ICOs, followed up by a memorable altseason, where a supposedly good idea depicted in a well crafted whitepaper were good enough to raise millions of dollars (Shipchain undoubtedly rode that opportunistic wave too) and timely listing on prominent exchanges guaranteed triple digits returns, it is an understatement to claim that the crypto sector was not so efficient at granting the right valuations to the thousands of startups out there (did somebody say Dentacoin?).

Few years later, one can relate to that Loom article [1] rightly stating:

Too many projects raised too much money under suspect pretenses, then mostly squandered funds in efforts to pump or prop up their tokens.

Indeed many (most?) projects didn’t meet expectations (in the expected timeframe at least), burning many investors, who learnt their lesson and may never come back, while on the other hand, gamblers developed an addiction for easy gains (or volatility?) and now slowly lose it all in day-trading and pump & dump schemes…

This left us with a space where the biggest scams now pump the hardest [2] while awareness and recognition of legit builders, when not met with ‘crypto marketing standards’ [3] such as heavy presence on social media, and leveraging tools like airdrops & bounties, fell into the abyss.

More importantly, the crypto market is also constitued of hundreds of projects that actually sit in between those two extremes: the ones who, despite having the right idea and a decent attempt to execute it, may still fail, for giving more importance to their short term token value than to two critical aspects that would though determine their future: regulatory compliance and a sound balance sheet (or a robust plan to get one).

History doesn’t repeat but often rh...

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