Sharplink CEO: Now clear ETH, like selling Amazons in Internet bubbles
In almost every market cycle, the moment of surrender and the lowest mood in the diaspora is a good opportunity for capital formation。
Original textSharplink CEO Joseph Chalom
Compiled Odaily Daily Planet Qin Xiaofung@QinXiaofeng 888 I'm not sure
Editor: This week, the former ETH bar was many, Bankless co-founder David Hoffman wrote to explain why he cleared ETH, received strong resonance from the Etherwood community, and read an amazing 1.8 million articles on X platform. Sharplink (Nasdaq: SBET), the second-largest publicly listed ETH Treasury, is in trouble。
Sharplink Chief Executive Officer Joseph Chalom wrote on 30 May"Etheum Going Back on Offense"Trying to boost confidence for the ETH holders. He stated that the ETA Foundation was fulfilling its core function of focusing on core agreements, security and decentrization, which was the basis of institutional trust; today ' s ETH is an undervalued Amazon when the Internet was destroyed (Odaily note: the Standard Chartered Bank has used a similar analogy to emphasize ETH fundamentals are a serious deviation from prices). Joseph Chalom believes that the current market fear is a good opportunity; ecological parties need to speak up and promote the adoption of super-cyclical institutions。
Here's the full article by Joseph Chalom, compiled by Odaily Daily, Enjoy..
——
THE CURRENT CONTROVERSY SURROUNDING THE ETHERAK FOUNDATION (EF), AS WELL AS THE NOISE CAUSED BY ETH PRICE FLUCTUATIONS, HAS LED TO THE NEGLECT OF THE LARGER PICTURE. WHILE I UNDERSTAND THESE DISCUSSIONS, THEY DO NOT DETERMINE WHO WILL LEAD THE FINANCIAL INFRASTRUCTURE FOR THE NEXT DECADE。
This is the view of a stakeholder. Before leading Sharplink, I had been in charge of financial science and technology operations and digital asset strategies in BlackRock for 20 years. These experiences give me a deep understanding of what institutions need before they deploy funds to new infrastructure。
I would like to put aside these noises and offer a different perspective on the situation of the Etherfrog today and the way forward。
HereThe Taifu Foundation is fulfilling its core duties
Looking back, what has been delivered over the past decade? It is a long way ahead of institutions to adopt the most important attributes — trust, security and mobility. It is winning and its advantages are clear。
Look at the data: the Taifeng handles the value of most of the stable currencies around the world; the Real World Assets Project, which has much more than any other block chain; it is a default for high-value DeFi transactions. In these dimensions, other competitors can only look back。
THIS IS NOT AN ACCIDENT, BUT RATHER THE RESULT OF A RIGOROUS AGREEMENT DEVELOPED BY EF OVER THE YEARS。It is the only one that has successfully launched a major upgrade in the base level over a decade: The Merge, EIP-1559, Dencun, Pectra, Fusaka。The upcoming Glamsterdam upgrade will bring a leap in scale, and the EF is leading the industry towards a quantum-resistant age. This is the most ambitious technology road map for the entire industry。
Centralization is a feature, not a flaw
SOME OF THE BIGGEST CRITICISMS OF THE EF ARE THAT DECENTRALISATION IS A WEAKNESS. THIS VIEW COMPLETELY REVERSES THE LOGIC OF THE INSTITUTION. THE ETA IS THE MOST DEVELOPED OF ALL THE BLOCK CHAINS - MOST OF THEM NOT BELONGING TO EF。
No foundation should have full control over a block chain. The agency would not lock up, simply to migrate from one proprietary system to another. They need to be sure that the underlying attributes on which they rely will not be changed at will by the centralized owners. In fact, no block chain should depend on a single entity。
Credible neutrality and decentrization of the Taifung are the reasons why it becomes a future financial settlement. These are not shortcomings。
I chose the former each time between a foundation focused on safety, privacy, resistance to quantum and core agreements, and a foundation optimized for short-term marketing。
ETH VALUE VS. AMAZON
History is replete with examples: fundamental innovation is ignored by critics, instead of being more fashionable, and ultimately proves that pessimists are wrong. Amazon is the most typical example。
EARLY ON, THE MARKET AGREED ON THE AMAZON THAT IT WAS SIMPLY AN ONLINE BOOKMAKER WITH A CONTINUING LOSS SUSTAINED BY THE INTERNET BUBBLE. IT'S ONLY ABOUT ITS PROFIT STATEMENT, BUT IT IGNORES BESSOS' LONG-TERM VISION. HE WAS BUILDING AN ENTIRELY NEW E-COMMERCE MARKET STRUCTURE. ITS TARGET MARKET (TAM) WAS NEVER FOR BOOK SALES, BUT FOR THE RETAIL ECONOMY AS A WHOLE, AND WAS LATER EXTENDED TO CLOUD COMPUTING AND MEDIA. THOSE ANALYSTS WHO ONLY LOOKED AT THE SHORT-TERM STOCK PRICES OF THE AMAZON MISSED GREATER OPPORTUNITIES。
TODAY, THE ETHER AND ETH ARE IN THE SAME POSITION TODAY. ITS TAM IS NOT AN ENCRYPTED CURRENCY TRANSACTION, BUT THE ENTIRE GLOBAL FINANCIAL SYSTEM。ETH& nbsp; The intrinsic value is linked to network expansion. The Internet is at the threshold of cross-border growth in terms of trade volumes, covering the wave of stable currencies, monetization of real world assets, DeFi and emerging smart finance. In order to guarantee such a large volume of transactions, the ETA would become a demand-rich incentive and ultimate trust infrastructure, with an increase in its currency premium。
NO ETH THERE'S NO ETHER. ASSETS ARE INEXTRICABLY LINKED TO NETWORKS。
When people surrender, they make money
In almost every market cycle, the moment of surrender and the lowest mood is a good opportunity for disciplined capital formation。BUFFET BUILT BIRKHEL BY BUYING HIGH-QUALITY ASSETS AT THE MOST PESSIMISTIC TIMES -- FROM GEICO IN THE 1970S TO SILVER AND GOLD DURING THE 2008 FINANCIAL CRISIS。
For most of the past year, the fear and greed index reflects the extreme fear of the market. The smartest investors buy high-quality assets when the market fears the most. They invest counter-cyclically, not pro-cyclically。
IN THE COLD, ENCRYPTED WINTER AFTER THE FTX CRASH, MOST AGENCIES ARE AWAY FROM THE RISK EXPOSURES OF BITCOIN AND ETH OR ARE SETTING ASIDE THE RELEASE OF PRODUCTS. AND WHEN I WAS IN BELAID, WE WENT THE OTHER WAY. WE HAVE DOUBLED OUR BETS, INVESTED IN INFRASTRUCTURE, BUILT ECOLOGICAL PARTNERSHIPS AND LAUNCHED PRODUCTS LINKING TRADITIONAL FINANCE TO THE ENCRYPTED WORLD。
We can all learn a lot from Buffet and Belet。
The Ether House needs a new voice
EF IS FULFILLING ITS CORE RESPONSIBILITIES. IN THE FUTURE, IT WILL FOCUS MORE ON CROPS。(Odaily note: CROPS is an internal framework that prioritizes resistance, openness, privacy and security. This shift means that the ETA Foundation will focus on making ETA a “shelter technology”, giving priority to basic, long-term protocol security, user privacy and resistance to censorship/control, rather than pursuing radical expansion and primitive speed。
For the majority of the population, it is clear that the current problem lies in the leadership of market promotion; at the same time, there is a general desire on the part of institutions to embrace Etherak. I strongly believe that ecosystem stakeholders and participants need to play a greater role in the narrative and institutional adoption of ETA。
Since the summer of last year, Digital Asset Treasury and the Etherak Core Guardian have played an important role in this regard. These include Sharplink, Tom Lee from Bitmine, Joe Lubin from Connsys, Etheralize, Nethermind, Aave, Morpho, EEA and other ecological stakeholders. We also work closely with small teams within the EF focused on institutional education and adoption。
Sharplink is actively investing in this ecosystem. We are the first company to pledge billions of dollars of ETH capital and deploy hundreds of millions of dollars to the high-quality DeFi agreement. We recently announced that a $125 million DeFi Gain Fund would be launched with Galaxy Digital to provide capital for existing and emerging agreements。
Having said that, we can and will do more, actively speak for the Pacific and proactively support the adoption of super-cycles by the forthcoming institutions。
The Ether's future is happening right now。
RECOMMENDED READING:
"Bankless Founder clears up ETH, the collective disillusionment of the Taijong faith."
