CryptoweSpark

Every time I write in the square, I habitually ask myself a question: can this project really change the existing pattern? I'm not writing to meet a word count, but rather to sincerely share my thoughts and experiences so that more people can understand the underlying value. Recently, I carefully studied OpenLedger, and frankly, it got me a bit excited. This is not because of another 'AI + blockchain' gimmick, but because I see that it really brings the operating logic of AI onto the chain in its underlying design.

Let me first share some personal feelings. The first time I came into contact with AI was when I used ChatGPT to help me write trading strategies, and at that time, I thought this thing could create a whole new interaction method if it could be combined with on-chain smart contracts. However, over the past year, many AI + Web3 projects I've encountered have left me with the impression that they are still at the stage of 'AI generates images + NFT' and 'AI writes some data reports', and they are far from truly integrating with the underlying blockchain. OpenLedger amazed me because it has made 'AI as the system core' a central design principle rather than a supplementary function.

When I first came into contact with Somnia, I was actually filled with a sense of curiosity and skepticism. Because in the crypto world, countless new public chains emerge every day, shouting various slogans: high performance, low fees, EVM compatible... but most of them ultimately turn out to be fleeting. However, Somnia gives me a somewhat different feeling. It is not trying to be a 'technical rival' that confronts Ethereum and Solana head-on, but rather attempts to stand from a perspective that is closer to ordinary users, bringing games, entertainment, and consumer-grade applications into the blockchain ecosystem. For me, this is a more down-to-earth narrative.

I have been thinking about a question: Why, despite the development of DeFi to this day, are there still so many inefficiencies? Whether it is the liquidity lying in AMM pools or the dormant assets in lending protocols, the TVL looks impressive, but the actual circulating portion is far from sufficient. So when I came across the Mitosis project, I was struck; it seems to be answering the question in my heart: Can we cut and transform these 'dormant assets' to turn them into truly programmable financial components, to splice, to flow, to create?

I often wonder what our generation of content creators is most lacking. It is not inspiration, nor is it the tools for expression, but rather a stage that can truly amplify creativity and provide reasonable returns. Looking back at my own creation experiences, whether it is writing or sharing, the biggest issue always revolves around two words: monetization. You can spend several hours polishing an article, an image, or a video, but in the end, it may not yield much actual profit, not to mention those distribution channels that exploit creators layer by layer, or lack a fair reward mechanism for creators. It wasn't until I came across Holoworld AI that I realized this could be a new track — it attempts to break down the barriers between AI and Web3, allowing creators, AI tools, and decentralized economies to truly converge.

In my few years of entering DeFi, my deepest realization is that "there are many opportunities, but the efficiency is too low." Whenever a bull market heats up, liquidity tends to be dispersed like tides across different protocols—AMM, lending, yield aggregators, one after another. I have tried continuously migrating positions to maximize the utilization of liquidity, but no matter what I do, I always feel like I'm piecing together an incomplete puzzle—low efficiency, high fees, and worrying about passively missing the next opportunity. This fragmented liquidity issue has long been a pain point in DeFi. It wasn't until I encountered Mitosis that I truly realized there is a new way to transform this inefficiency into "programmable asset logic."

In the world of blockchain, the deeper I explore, the more I uncover a core issue that always exists: how to enhance efficiency while ensuring security? Many times, we discuss scaling, cross-chain interactions, and interoperability, but there are not many solutions that can actually be implemented to address the bottlenecks. It was when I encountered Boundless that I first felt that 'proof' could perhaps redefine the operational logic of the entire industry.

Boundless is an infrastructure based on zero-knowledge proofs, but unlike many projects, it does not aim to create a closed ecosystem; instead, it seeks to 'outsource' the complex proof generation capability, allowing external proof nodes to generate and verify proofs for different blockchains, applications, and Rollups. What does this mean? It means that developers do not have to reinvent the wheel, and each network does not need to spend enormous time and costs to build its own proof system. By connecting to Boundless, they can obtain stable proof services. This model reminds me of the early CDNs on the internet when every website struggled with bandwidth and latency issues until CDNs emerged, making the global internet truly smooth. Boundless aims to play a similar role in the blockchain domain.

As an investor who has been in the cryptocurrency world for several years, I have experienced the transitions between bull and bear markets, witnessed the rise and fall of countless projects, and have been attracted and disappointed by new narratives time and time again. However, during this journey, I have become increasingly aware that the projects that can truly succeed are often those that do not chase short-term hype, but instead address the deeper issues in the industry. And when I came across BounceBit, I had a strong intuition: it could be a key player in the next wave of CeDeFi and the re-staking trend of BTC.

Why do I say this? Let’s start with the overall environment. A topic that cannot be avoided in the cryptocurrency market in recent years is Bitcoin. It is the cornerstone of the entire industry, but for a long time, the financialization of BTC has been far from sufficient. We see a flourishing DeFi ecosystem on Ethereum, with L2, lending, and derivatives emerging one after another, but BTC often still plays the role of 'value storage.' A large amount of BTC lies in cold wallets, with almost zero efficiency of dormant funds. What BounceBit aims to do is activate this vast dormant asset within a compliant and scalable framework, helping holders to obtain real returns.

Every time I see new narratives emerging in the crypto market, I always approach them with a bit of skepticism and curiosity to research. Because in the past, too many projects have raised the so-called 'innovation flag', only to either be old logic in a new guise or short-term capital games. But this time I seriously looked at OpenLedger and found that it is different from most of the projects I have encountered before. It has truly integrated the narrative of 'AI' into the underlying design of the blockchain, rather than just sticking to the routine of 'issuing an AI NFT' or 'engaging in computing power leasing'.

The reason I think OpenLedger is worth mentioning is that it does not treat AI as an external plug-in, but rather moves the entire AI process—from model training, data flow to agent deployment—onto the chain. You can imagine a model that no longer relies on centralized computing power platforms and custodians; it can run training on the chain based directly on OpenLedger's architecture, be called on the chain, and then receive value settlement through contracts. This logic reminds me of Ethereum's early experiments with financial contracts, where the flavor of 'liberating productive forces' is very similar.

If I reflect on the projects in the crypto space that truly made me pause and think this year, Plume would definitely be at the forefront. Many times we chase short-term fluctuations in the market, but to be honest, there are not many projects that genuinely move me and make me feel like 'this direction might really rewrite the industry rules,' and Plume belongs to this category. Its positioning is very clear—a modular Layer 2 network tailored for Real World Asset Financial Infrastructure (RWAFI). It sounds quite academic, but when broken down, it is essentially: bringing those large and complex assets from the real world onto the blockchain through a more efficient, compliant, and open blockchain infrastructure, making DeFi not just a game between virtual currencies, but a true conduit for the value of the external financial world.

When I first came into contact with the Pyth Network, to be honest, my instinct was, 'Is this just another oracle project?' After all, over the past few years, the oracle space has been discussed countless times, from the earliest Chainlink to some later cross-chain data providers, everyone has been emphasizing 'how to securely upload off-chain data to on-chain.' But as I slowly delved deeper, I realized that the problem Pyth aims to solve is not the same as traditional oracles. It does not simply rely on intermediary nodes to package data, but allows first-party data sources to connect directly to the chain, which greatly reduces opaque processes and eliminates the risks of centralized intermediaries. In other words, Pyth is not about 'transporting' data but making the data itself closer to being native on-chain, secure, and transparent.

To be honest, when I first came across Somnia, I was a bit skeptical. After all, there have been quite a few projects in the market over the years claiming to be 'entertainment + blockchain', but very few have actually made it. However, after I delved deeper, I found that Somnia's positioning and implementation logic are quite intriguing. It is not just a slogan; it is an EVM-compatible L1 public chain focused on gaming, social interaction, and entertainment applications. This foundational choice determines that it will take a different path from traditional public chains aimed at developers.

As a player myself, I resonate most with the four words 'user experience'. The biggest problem with blockchain games in the past has been their complexity, high latency, and unfriendly on-chain interactions, which have discouraged many ordinary players. Somnia's tech stack emphasizes chain abstraction and large-scale user capacity, which I think captures the essence. To grow the chain, it ultimately needs to focus on 'making it easy for non-crypto natives to get started', rather than just serving a small group of geeks. Just like how the internet became widespread back then, it was not driven by tech enthusiasts, but by countless ordinary users who were willing to use it.

Sometimes I wonder why games and entertainment are always an unavoidable topic in the blockchain industry? Perhaps it's because, compared to cold data and abstract financial logic, games provide a more direct sense of immersion, while entertainment can quickly break down barriers and truly bring the technology on the chain to ordinary users. Recently, I came across a project that resonated with me — Somnia. This is an EVM-compatible layer one public chain, primarily focused on applications for the general consumer, especially in games and entertainment. I would like to take this article to share some of my observations, thoughts, and my personal experiences as a participant regarding Somnia.

In the world of encryption, I have been thinking about a question for a long time: can the relationship between creators and users be completely reshaped through AI and Web3? Especially when I have tried content creation on different platforms, I always encounter some common issues, such as high barriers to entry, unfair distribution, fragmented revenue systems, and even the interaction between creators and audiences seems a bit thin. It wasn't until I saw the design concept of Holoworld AI that I felt there was really an interesting turning point in this field.

I have been looking for a project that can truly change the operating logic of the entire DeFi ecosystem. To be honest, most so-called 'innovative' protocols are just rephrasing and copying others' models. But when I first seriously studied Mitosis, I had this intuition in my heart that 'it seems a bit different.' Because it is not simply creating an AMM or lending protocol, but directly working on the underlying liquidity infrastructure of DeFi, breaking down complex liquidity positions into 'programmable components,' which really touched me.

When I first encountered Boundless, the first word that came to my mind was 'effortless'. In the crypto world, we often talk about scalability, efficiency, and security, but in practice, many chains and applications either sacrifice decentralization for performance or have high costs, making it difficult for users to experience lightness. What Boundless aims to solve is precisely this deeply rooted contradiction. It uses zero-knowledge proof (ZKP) technology to offload heavy computations off-chain while keeping the verification process on-chain, allowing the entire process to maintain transparency while significantly reducing resource consumption. This concept makes me feel that Boundless is not just a technical project, but rather an inevitable evolution in the Web3 world.

Actually, when I first heard about OpenLedger, I didn't immediately feel that it was different from other so-called 'AI + blockchain' projects. There are too many projects on the market shouting about AI narratives; some are just jumping on the bandwagon, and some even lack a concrete technical solution. But later, I took some time to look at its white paper and public information, and I realized that there is a deeper logic here— they are not just integrating AI at a single point, but rather incorporating 'AI's participation' into the underlying design of the blockchain. This kind of foundational integration is like pouring cement and steel reinforcement together into the foundation, rather than adding a decorative piece later.

Many times, I ask myself, where is the true value in the crypto world? Is it in the surge of a certain coin, or is it in the fleeting hype of a certain sector? After years of bull and bear markets, I increasingly feel that what can truly change the landscape is often those projects that can connect the virtual and the real. Against this backdrop, I noticed Plume. When I first saw its introduction, I had a feeling in my heart that 'this might be different'.

Plume is not a project that tells stories through a novelty meme; its entry point is 'Real World Asset Finance (RWAFI)'. I was initially unfamiliar with this term, but upon reflection, it hits the nail on the head. In the past, when we talked about RWA, we always stayed at the level of 'moving national bonds onto the chain' or 'tokenizing gold', but truly complete ecosystems remain scarce. What Plume aims to do is to create a modular Layer 2 that natively supports RWA on EVM-compatible chains. This means it is not just about 'bringing assets in', but rather considering compliance, custody, liquidity, and application scenarios from the fundamental logic, attempting to build a highway network capable of accommodating the scale of real finance.

My first encounter with Pyth Network was while researching DeFi infrastructure. To be honest, at that time, the oracle track already had giants like Chainlink, and many people would think that 'another oracle project' lacks novelty. But after diving deeper, I found that the biggest difference between Pyth and other projects is that it is not a third-party intermediary forwarding data, but a decentralized first-party oracle network. This may seem like a detail, but it has created a huge gap in terms of data security, transparency, and credibility. For me, the problem that Pyth solves is not 'how to move data on-chain,' but 'how to ensure that data remains authentic and resistant to manipulation after being put on-chain.'

When I first came across BounceBit, the first thought that popped into my mind was: it turns out BTC doesn't have to just lie quietly in the wallet, it can also participate in more gameplay on the chain. For someone like me who has long been optimistic about Bitcoin but wants to enhance asset efficiency, this is simply an opportunity to get BTC 'moving'. Over the past many years, BTC has been called the 'sleeping giant'; it has a huge market value and strong consensus, but the things it can do on the chain are limited. In contrast, ecosystems like Ethereum and Solana have already flourished in the DeFi space. However, what BounceBit feels like to me is that it wants to reopen BTC's value space through a CeDeFi approach.

Sometimes I wonder why, in the world of blockchain, there are so many innovative projects but they always seem to be stuck on efficiency and interoperability. It's either that cross-chain bridges easily encounter problems, or each chain fights its own battle during expansion, reinventing the wheel. This sense of fragmentation often makes me feel that the entire industry is running fast, yet it seems like it has never found the smoothest path. It wasn't until I encountered Boundless that I realized zero-knowledge proofs are not only synonymous with privacy but also the core lever for improving the entire crypto infrastructure.

I first paid attention to Boundless because I saw their proposal for the zkVM concept: moving the computationally intensive proof generation off-chain while keeping the verification on-chain. This is actually a very subtle design, essentially allowing the chain to only take on the role of 'referee,' while the heavy 'training' is left to external nodes. As a result, the cost and time of verification have significantly decreased, throughput has increased, and the scalability of the entire system has suddenly opened up. This reminds me of the development history of the traditional internet, CDN, cloud computing, distributed architecture... Boundless is integrating similar concepts into the crypto world, but this time the keyword has become zero-knowledge proofs.