Encryption projects should return to the original intention of decentralization and high risk, high return.

Recently, a dangerous trend has emerged in the encryption industry: many projects have become overly reliant on centralized trading platforms and venture capital support, deviating from the original intention of cryptocurrency. This practice not only goes against the principle of Decentralization but also stifles the opportunities for ordinary investors to achieve high returns. We need to re-examine the three pillars of cryptocurrency success: resisting government capture by a few interest groups, the revolutionary nature of blockchain technology, and the potential to enrich ordinary users.

Since the decline of the ICO boom in 2017, the capital formation model of crypto projects has gradually deviated from the path of stimulating community engagement. Instead, it has been replaced by high valuations, low liquidity, or venture capital-backed token models. However, this model has performed poorly in the recent bull market, leaving ordinary investors deterred by high prices.

In contrast, although Meme coins have no practical use, their egalitarian capital formation mechanism and high-risk, high-reward characteristics better meet the needs of ordinary investors. The value of Meme coins entirely depends on their viral dissemination, rather than the elite background of the founding team.

The problem with the traditional venture capital model is that its decision-making logic is more based on stereotypes related to the founder's education, work experience, etc., rather than the potential of the project itself. This has led to a seriously homogenized investment environment, which is not conducive to innovation. In contrast, the ICO model places more emphasis on the project's dissemination potential and technological innovation, providing opportunities for innovators from various backgrounds.

ICOs are making a comeback as the entire industry has realized the drawbacks of centralized control after going through a complete cycle. Today, technological advancements have made the ICO process more efficient, and the development of DEXs has provided better liquidity for new projects. Some emerging platforms are working to lower the entry barriers to attract more ordinary users into the encryption market.

To bring ICOs back to their peak, project teams need to make the right choices, and investors must also learn to "say no". We should reject those venture capital projects with high valuations and low liquidity, as well as tokens that are launched at high prices on centralized exchanges. Only by returning to the principles of Decentralization and high risk-high reward can the crypto industry regain its past glory and create opportunities for ordinary investors to generate massive wealth.