After reviewing the posts on the forum, it seems that some of the suggestions are generated by ChatGPT, which are correct but not very useful. Here are my suggestions as a long-time crypto investor who has also participated in the Gas airdrop event and received a fair number of tokens. Hence, I am willing to contribute even without any rewards.
I will describe my thoughts in three parts, hoping that some of the content will be recognized and adopted:
Part1. What does $10B mean:
A project worth $10B, especially at the onset of a bull market, is already considered quite significant. It can be observed that it would be positioned similarly to DOT (Polkadot) and Polygon in terms of scale and impact.
Rational thinking suggests that for ZKFair to reach such a height at this time is nearly impossible.
However, looking at a longer time frame:
In the previous bull market, projects in the Top 100 were valued at about 2-3 billion. I estimate that in this bull market, possibly around 2025, Top 100 projects could reach a valuation of 10 billion. In other words, if ZKFair can enter and maintain its position in the Top 100, it could achieve our target value of 10 billion during this bull market.
Currently, the market cap of the Top 100 is around 600 million, so our current goal should be set at 600 million, maintaining a position in the Top 100. This is a more reasonable consideration.
We see that leading projects of Layer2s like Optimism (OP) and Arbitrum (ARB) have a FDV exceeding 10 billion. These VC-backed projects have a smaller MC, around 2-3 billion.
Second-tier L2 projects, such as Metis with its decentralized sequencer and community-driven operations, have reached a market cap of 400 million and an FDV of 800 million.
For ZKFair, by leveraging the narrative of Ethereum’s upgrades, setting key metrics, and maintaining a position in the top 5 of Layer 2s, it’s plausible to aim for the 10 billion target.
Part2. Key Metrics Influencing a Layer 2 Project’s Valuation:
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Technological Architecture’s Advancement: For instance, Metis’ development of a decentralized sequencer significantly raises its valuation.
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ZKFair’s Core Philosophy: The foundational principles and vision that drive ZKFair.
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ZKFair’s Differentiation Strategy: Unique approaches and features that set ZKFair apart in the market.
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Ecosystem Projects and TVL: A highly visible metric. Our successful Gas Airdrop provides a strong start, and L2BEAT indicates a promising initial position.
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Token Circulation and Liquidity: The availability and ease of trading the project’s tokens in the market.
Part3. Effective Actions for Key Metrics:
3.1 Advanced Technical Architecture: As ZKFair isn’t a VC-backed project, it inherently faces constraints in development funding. However, this doesn’t mean our technology is inferior. On the contrary, by employing technologies like LUMOZ, PolygonZKEVM, and CelestiaDA, we are at the forefront of technical innovation. We should continue this strategy, achieving technological advancement through partnerships with tech collaborators.
3.2 ZKFair’s Core Philosophy: This is crucial as it forms the foundation of user consensus. Initially, we did well, differing from VC projects by being a ‘Fair’ Layer 2. This concept of fairness must be deeply integrated into all subsequent operations, including airdrops, rewards, decision-making, etc. This will be key to our success against VC-backed projects.
3.3 ZKFair’s Differentiation Strategy:
- Using stablecoins for Gas fees in a Layer 2 setting, attractive to users who prefer less volatile assets.
- Sharing Gas fees between ZKF token holders and developers, adding functionality beyond governance.
- Focusing on key application directions like Gamefi or Socialfi.
3.4 Ecosystem Projects and TVL:
- Attracting influential brand-name projects like UNI, AVAE, CURVE. While they might not contribute much TVL, they have a significant impact.
- Supporting native projects that embody ‘Fair’ and incubating breakout projects to attract cross-chain funds, which is key to TVL growth.
- Avoiding rug pull projects and enforcing stringent vetting for ecosystem projects.
3.5 Token Circulation and Liquidity:
- Managing circulation despite all tokens being released, such as rewards for staking ZKF and using ZKF as a tool for participating in ecosystem projects.
- CEX listing to increase liquidity, creating a liquidity premium.
- Introducing competent market makers. Given the early bullish market, market makers can ensure a healthy price trend and positive holder experience, thereby strengthening consensus.
These are my preliminary thoughts. I’ll continue to closely follow ZKFair and won’t sell until we reach a market cap of 10 billion