Community is Dead, Long Live Community

链捕手Pubblicato 2026-05-15Pubblicato ultima volta 2026-05-15

Introduzione

The author reflects on the transformative and often painful evolution of crypto communities. They nostalgically recall the early days of Web3, where genuine bonds formed around shared beliefs in projects like DeFi and NFTs, leading to deep friendships and passionate collaboration. However, the essay argues this authentic "community" is now largely dead. It has been corrupted by a culture of extraction, where most participants in modern Discord servers are motivated solely by financial gain—grinding for points, chasing airdrops, and immediately selling tokens. This dynamic creates a facade of engagement that vanishes after a token launch, often replaced by hostility. The author uses their project, Across Protocol, as a case study, announcing the shutdown of its Discord server because it no longer represents a true community but a toxic space dominated by mercenary actors. The piece concludes with a bittersweet farewell to the old era and a determined call to continue building with the few remaining genuine believers. The title's paradox, "Community is dead. Long live community," mourns the loss of the original ideal while expressing hope for its future revival.

Author: jamesrichardfry, Head of Marketing, Across Protocol

Compiled by: Jiahuan, ChainCatcher

I've been struggling with how to write this. Part of me wants to sugarcoat it. Dress it up in marketing speak. Frame it as something beautiful and move on.

But that wouldn't be entirely honest. If you know me, you know I wear my heart on my sleeve and I'm incapable of lying. So here it is, bluntly.

Community is dead. Of course, it wasn't always this way. That goes without saying, but I'm saying it out loud anyway.

I still miss the good old days on Clubhouse and Discord chatrooms. The times we spent hours "vibing" with people from across the internet about magic internet money, the latest NFT drop, the best staking opportunities, complaining about the money we lost, dreaming about the next great project, and actually *building*.

To this day, I'm still good friends with many of those people. Some have even become friends in real life. When community is good, it's good. I miss those days.

Zooming out a bit, what is community? I talked about this for way too long during a recent all-hands meeting, and I could almost hear the eyes rolling from my colleagues.

To share a bit of that epiphany with you, here's my take on community:

A community is a group of people gathered around a shared interest. In many aspects of our daily lives, we have community.

From the school you go to, the sport you play, the religion you practice, the gym you frequent, even the grocery store you shop at.

Some communities are shallow. The group of old men I see at the gym Monday through Friday is a community, but it's clearly very different from the friend circle community we intentionally spend time with.

Web3 or crypto community is no different.

We all gathered around our shared interests. DeFi summer. NFT mania. NFT winter. Cross-chain interoperability whatever. Zero-knowledge proofs whatever.

Whatever you're into, there's a group of people diving down the rabbit hole with you.

Some were there for the financial speculation. Others, from a deep belief and commitment to the early cypherpunk movement. Some crypto communities were surface-level or perfunctory.

Others were deeply profound. I mean, deeply, deeply profound. Like a religious congregation, fanatic following, belief-in-your-gut, put-your-money-where-your-mouth-is profound.

We wore the same "clothes" (PFP), spoke our own language (WAGMI), looked crazy to outsiders, and we didn't care one bit because we believed in what we were all gathering to pursue.

Early crypto community was inseparable from belief.

Not just belief, but a deep, gut-wrenching conviction that gave you the courage to get on stage and talk for hours in front of hundreds about why you believed in the founder, the project, the roadmap, and why you were the project's diamond-handed hodler.

Conviction. That's what drove the parabolic growth in the early days. Without community, crypto would be nothing.

Across, by the way, was no exception. The early days of the Across community were the golden days. The vibes were high. There was deep conviction (yes, I'm repeating that word). Excitement, energy, people genuinely caring about the project for the innovation, not for the token price.

We hired people from that community who are still with us today. And some of the early people who stuck around are still die-hard community members, riding the waves with us.

When community is good, it's good.

And then, everything changed.

Fast forward to today. I'm going to make some sweeping generalizations here. Please know that I'm not referring to "all" community members, "every" community group, and not painting with a broad brush. But if I continue to be blunt, I'm referring to most. Vast majority.

The word "community" has been bastardized by the crypto "extractors." In many ways, if you want to know why "the love of money is the root of all evil," look no further than the countless Discord "communities."

Thousands of unread messages a day. Impressive daily active users. Constant social support, until the Token Generation Event (TGE) hits. We all know the playbook.

The vibe before TGE mimics the early crypto community sentiment. Deep conviction. Gut-wrenching fire. Courage to get on stage. PFP and project tags in bios. Ride or die, diamond hands, bullish hodler.

Then, everyone changes.

You go to sleep one night, barely able to keep up with the Discord notifications.

You wake up the next morning, and it's a ghost town.

Or worse.

You find your loyal "community" coming at you with pitchforks and torches.

Over the airdrop.

You see, "community" is no longer community.

It's devolved into endless, AI-generated spam to farm points, for the hope of an airdrop, to immediately dump, then complain about the token price, and call the project a scam or rug (which, to be fair, is often true).

You know where I'm going with this long-winded rant, right?

"Community" is no longer community. You know it. You feel it. The timeline feels off. Discord servers feel off. Podcasts feel off. Twitter Spaces feel off.

Everything feels wrong, like "Con" will never be "Confucius." Everyone reading this today knows it deep down, even if you've never articulated it this clearly before.

Today's "community" is a cheap imitation of the early community that built crypto into what it is. The shared interest of these "community" members boils down to one thing. Extraction. Quick. Decisive. Extraction. It's the poison that kills what crypto could have been, and should have been.

Most of today's (again, not all) Discord "communities" consist of the dregs of the remnants.

Some are genuine loyalists and believers. (To those who have stuck with Across, we wouldn't be here without you. Thank you. You know where to find us, we'll always have a place for you.)

Some, often the majority, are there to extract from the project. I won't dwell on that here.

And finally, those who only appear to complain. Because in every bear market, these specific types of "community" members will kick you when you're down, as if the bear market hasn't affected every team member, and as if we caused the bear market to happen.

Unfortunately, the Across Discord has recently fallen into this "majority" category as well. Our "community" has become something else.

The people who recognize the incredible achievements we've made, the progress Across has pioneered for the entire industry, and who still support us, are tired of being part of this extractive "community" and have left the Discord.

The few who remain will happily move with us to Twitter and other channels. The rest are what I defined above as "community." Yes, I'm saying this with gut-wrenching fire and deep conviction.

Therefore, today, the Across Discord is moving to read-only mode.

This is the first step in our planned, full shutdown of the server.

To the community of believers still standing with us, let's keep building. We have a lot of work to do.

To Discord, thank you for hosting some of the good old days of crypto. I will cherish them forever.

Community is dead.

Long live community.

Domande pertinenti

QAccording to the author, what is the core difference between early crypto communities and today's so-called 'communities'?

AThe author argues that the core difference lies in the underlying motive. Early crypto communities were driven by a deep, shared belief and passion for the technology and vision. Today's 'communities' are primarily driven by extraction - the desire to farm points, earn airdrops, sell tokens immediately for profit, and then often turn hostile towards the project. They are characterized as cheap knock-offs of the genuine early communities.

QWhat specific action is the author announcing for the Across Protocol Discord server, and why?

AThe author announces that the Across Protocol Discord server will be set to read-only mode, which is the first step in a planned full shutdown. The reason is that their Discord has been overrun by the 'extractive' majority, driving away the genuine, loyal community members. The noise and negativity no longer serve the project's builders and true believers.

QHow does the author define a 'community' in the broader sense, beyond just web3?

AThe author defines a community as a group of people gathered around a shared interest. They provide examples from everyday life such as school, sports, religion, the gym, or even a local grocery store. The author notes that communities can be shallow (like nodding acquaintances at the gym) or deep and meaningful (like close friend groups).

QWhat positive aspects of the early 'golden era' of crypto communities does the author miss?

AThe author misses the authentic 'vibing' on platforms like Clubhouse and Discord, where people discussed crypto topics out of genuine interest, shared experiences, dreamed up new projects, and collaboratively 'built' things. These interactions were based on excitement, innovation, and a shared belief in the project's potential, not just token price. Many real friendships were formed during this time.

QWhat is the primary 'poison' that the author believes has killed the potential of what crypto communities could have been?

AThe author identifies 'extraction' as the primary poison. The current environment is dominated by individuals whose sole common interest is to quickly and decisively extract value from projects through activities like airdrop farming, followed by selling tokens and complaining. This self-serving behavior has corrupted the genuine communal spirit.

Letture associate

After Three Consecutive Quarters of Decline, Can the Crypto Market Find a Window for Stabilization in Q3?

The cryptocurrency market has just concluded its worst-performing quarter since 2022, with total capitalization dropping 12.6% to $2.1 trillion. All core metrics indicate capital is leaving the sector, not just rotating within it. Bitcoin fell 14.2% and Ethereum dropped 25.4% in Q2, breaking their previous correlation with US tech stocks. A key driver is the reversal in US spot Bitcoin ETF flows, which saw a net outflow of approximately $4.67 billion in Q2, including a record monthly outflow near $4.5 billion in June. While recent data suggests long-term holders are accumulating again, sustained ETF outflows mean continued selling pressure. Market focus is now singularly on the Federal Reserve. The upcoming July FOMC meeting is seen as the most critical event for Q3. A dovish signal could support Bitcoin reclaiming a $68,000-$84,000 range, while a hawkish stance might establish a new trading band around $50,000-$56,000. Additionally, regulatory uncertainty persists, with the progress of the crucial *CLARITY Act* stalling in the Senate, reducing its perceived 2026 passage probability to 40-45%. Despite the broad downturn, a few sectors showed growth. Prediction markets saw nominal volume surge 48.7% year-over-year to $113.8 billion, and tokenized collectibles transaction volume rose 143% quarterly to $1.4 billion. The Real-World Asset (RWA) tokenization sector also continued steady growth, now representing ~$28.1 billion in on-chain value. The market's foundation for an extreme crash appears limited, with Bitcoin price hovering near its 200-week moving average. However, the trading paradigm has shifted from narrative-driven speculation to decisions based on price action, policy developments, and interest rate expectations, making a broad sentiment-driven rally unlikely in the near term.

marsbit8 h fa

After Three Consecutive Quarters of Decline, Can the Crypto Market Find a Window for Stabilization in Q3?

marsbit8 h fa

BIT Trading Moment: BTC Still Suppressed by Weekly 200 EMA, Rejection May Restart Decline; Storage and Semiconductors that Surged Last Night Begin Falling in Evening Trading

**Crypto & Stock Market Wrap: Bitcoin Tests Resistance, Stocks Retreat After AI Surge** Bitcoin consolidates around $66,000, facing key resistance near $68,000—an area seen as a major psychological and technical hurdle where previous rallies have failed. Analysts note the cryptocurrency is caught between its 200-week moving average (~$63,333) and 200-week EMA (~$68,328). A clear break above $68k is needed to signal a stronger bullish trend, while a rejection could lead to a retest of $63k support. Market sentiment remains cautious, with low futures open interest pointing to a low-liquidity rebound rather than a full bull market. Bitcoin spot ETFs saw another $203 million inflow. US stock futures pointed lower after a strong Tuesday session led by a massive rebound in semiconductors and memory stocks. The rally was fueled by renewed optimism about AI-driven hardware demand, with Micron, SanDisk, and SK Hynix surging. However, those gains reversed in pre-market trading. Super Micro Computer (SMCI) soared over 20% after hours on strong guidance and a record backlog. Other standouts included Rocket Lab and nuclear energy plays Oklo and X-Energy. Rising oil prices (Brent above $91) and climbing Treasury yields (10-year near 4.64%), however, are reigniting inflation concerns and acting as a headwind for equities. In Asia, markets were mixed. South Korea's KOSPI pared early gains to close slightly higher as semiconductor stocks like SK Hynix gave back initial surges. Japan's Nikkei edged lower as the yen hit a fresh 38-year low against the dollar, raising fears of potential market intervention. Key events to watch include the Samsung Galaxy launch, AMD's AI event, and a slew of major tech earnings from Alphabet, Tesla, and IBM after the close on Wednesday, followed by the ECB meeting and Intel's earnings on Thursday.

marsbit8 h fa

BIT Trading Moment: BTC Still Suppressed by Weekly 200 EMA, Rejection May Restart Decline; Storage and Semiconductors that Surged Last Night Begin Falling in Evening Trading

marsbit8 h fa

Former CFTC Chairman, Circle President Tarbert: Preaching Long-Termism While Cashing Out $30 Million Himself

Former CFTC Chairman and Circle President Heath Tarbert has consistently advocated for a long-term vision in public, urging patience from investors as Circle’s stock price has fallen significantly from its peak. However, it has been revealed that since Circle’s IPO, Tarbert has continuously sold his CRCL shares through pre-arranged trading plans, cashing out approximately $30 million, without making any public market purchases. This contrast between his public messaging and personal actions has drawn criticism. Tarbert joined Circle in July 2023 as Chief Legal Officer, leveraging his regulatory experience to help guide the company through its IPO and expansion. Despite promoting stablecoins as long-term infrastructure, he established a 10b5-1 trading plan just before Circle went public, leading to substantial stock sales over the following year. In March 2026, he initiated another plan to sell more shares. His career trajectory highlights a pattern of moving between high-level regulatory roles and influential positions in the financial sector. After resigning as CFTC Chairman in early 2021, he joined Citadel Securities as Chief Legal Officer just 27 days later, during a period of intense regulatory scrutiny for the firm. He later joined Circle, aiding its efforts to navigate regulatory challenges for its public listing. While Tarbert's expertise in policy and compliance is valuable to companies like Circle, his actions—advocating long-term confidence while personally divesting—raise questions about the alignment between his public statements and his private financial decisions, leaving investors who followed his advice to bear the market risks.

marsbit9 h fa

Former CFTC Chairman, Circle President Tarbert: Preaching Long-Termism While Cashing Out $30 Million Himself

marsbit9 h fa

Gate Research Institute: The 'Wall Street-ization' Wave of Crypto Financial Products – Competition or Integration?

The article titled "Gate Research Institute: Are Crypto Financial Products Sparking a 'Wall Street' Wave—Competition or Convergence?" explores the evolving relationship between the crypto ecosystem and traditional finance (TradFi). The piece begins by reflecting on Bitcoin's original 2009 vision of decentralization, disintermediation, and moving away from banks. It then contrasts this with the 2024 landscape, where key crypto assets like Bitcoin are increasingly held through Wall Street products like ETFs issued by giants like BlackRock. The article questions whether this signifies that TradFi is systematically taking over the rights to issue, price, custody, and distribute crypto financial assets. The core argument is that this is not a zero-sum takeover but rather a bidirectional convergence where each side addresses the other's weaknesses. Crypto offers 24/7 global markets, programmable settlement, and open access but lacks compliant channels, institutional-grade custody, deep fiat liquidity, and mainstream distribution. TradFi possesses these but is constrained by legacy systems, limited operating hours, and slow settlement. Two primary convergence paths are highlighted: * **Path A (CEX to TradFi):** Exemplified by Gate, which has progressed from offering tokenized stocks and CFDs to providing direct, real stock trading (US, Hong Kong, South Korea) within its platform, using USDT. * **Path B (TradFi to Crypto):** Exemplified by Robinhood, which has integrated crypto trading, acquired exchanges like Bitstamp, and is moving traditional assets like stocks onto the blockchain via tokenization and its own Layer 2. Both paths are ultimately competing to become the next-generation, unified financial account—a "super account" where users can seamlessly trade cryptocurrencies, stocks, ETFs, RWA (Real World Assets), and tokenized treasury products in one interface. The growth of RWA and tokenized treasuries (e.g., BlackRock's BUIDL) is presented as the asset-layer fusion, providing stable, yield-bearing assets on-chain and acting as a bridge between the two worlds. In conclusion, the "Wall Street-ization" of crypto is framed as a mutual transformation. Decentralized ideals persist in the protocol layer, while at the application layer, a more efficient, global, and accessible unified capital market is emerging from this convergence. The future competition lies not between crypto exchanges and stockbrokers, but between platforms vying to offer the most comprehensive asset coverage, liquidity, and user experience within a single account.

marsbit9 h fa

Gate Research Institute: The 'Wall Street-ization' Wave of Crypto Financial Products – Competition or Integration?

marsbit9 h fa

Trading

Spot
活动图片