The drawbacks exposed by the lack of innovation are becoming increasingly evident in the industry, with tokens devolving from "production factors" to "gambling chips."

- The hostility between the main players in community/shitcoin trading and project/token issuers is becoming more apparent.

In the past: Pre-contribution → TGE airdrop → Exit / Long-term binding

Now: Pre-contribution → TGE realization → Short selling / Arbitrage / Sentiment gaming

A healthy model is where the value of the airdrop > the community user lifecycle value provided during the TGE phase.

However, due to market apathy and fewer wealth-creating opportunities, there is no longer a predictable positive Beta after TGE. The community users' "dreams have shrunk," and without the dream of Holding + Tomoon, there are only Sell + improving life.

Therefore, the current hybrid strategy for token issuers will be:

A. Reject airdrops / Symbolic airdrops → Prevent "free chips from immediately turning into selling pressure"

B. High control over token supply → Maintain price trajectory controllability and leave room for subsequent cash-out

C. Guide contract gaming / Bottom-fishing sell-offs → Convert tokens into volatility assets rather than value assets

There are enough reference tokens attracting counterparties for contract gaming. The behavior of selling tokens during "bottom-fishing" is relatively covert, with references including the $AIRAIP ecosystem and......

This pattern is unhealthy because it leads to further "wealth creation opportunities," and community users' purchasing power continues to shrink.

@mirrorzk's ZEROBASE aims to break this deadlock at launch by providing users with sufficient airdrops during the TGE phase and hoping the community will bring more purchases. However, the results have been ineffective.

The reasons for this current situation are the falsification of the following three points:

- Significant growth potential for the project in the future (Positive Gamma)

This concerns the product itself. No project can survive without its native token except BNBChain.

- Community contribution can significantly reduce cold start costs

Token cold start is almost unrelated to community contribution; it depends on the project's financing background and its ability to produce and list tokens at scale.

Moreover, the value of the community is highly homogenized and replaceable.

- Long-term upward price expectations for tokens

The popularity of agencies has led to fixed and single promotion models; advertising + endorsement methods can only create short-term (16h line) trends.

Airdrops are economically unable to "recoup costs" anymore, which is an established fact. I only realized this complete situation today, which explains the income from various shill tokens like $M $XPL in the past.

But let's leverage our foresight to identify key transitions in the next phase and continue earning income.