Community is Dead, Long Live Community

链捕手Опубликовано 2026-05-15Обновлено 2026-05-15

Введение

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author uses their project, Across Protocol, as a case study, announcing the shutdown of its Discord server because it no longer represents a true community but a toxic space dominated by mercenary actors.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.

Связанные с этим вопросы

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.

Похожее

STRC Breaks Below $95: Why Does It Continue to Depeg? Is There Default Risk?

"STRC Falls Below $95: Why the Persistent Depegging and Is There Default Risk?" The article discusses the recent decline in the price of STRC, a perpetual preferred stock issued by Strategy (MSTR) designed to trade around a $100 par value. As of publication, STRC traded at $94.65, raising market concerns. STRC is described as a high-yield cash flow product, offering an 11.50% annual dividend paid monthly. Its "preferred" status grants it priority over common stock for dividends and in liquidation. Key reasons cited for the price depegging include: 1. **Bitcoin's Price Drop:** MSTR's assets are heavily tied to Bitcoin (BTC), which fell over 21% from its recent high, pressuring all Strategy-related products. 2. **Competitive Pressure:** Rival Strive Asset Management's similar product, SATA, offers daily dividends and has maintained its $100 par value with a ~13% yield. In response, Strategy has proposed changing STRC's dividend frequency from monthly to bi-weekly, pending shareholder vote. 3. **Technical Selling:** A break below $100 may have triggered algorithmic selling and stop-losses, exacerbating the decline. Regarding default risk, the analysis suggests it is currently low. Strategy founder Michael Saylor confirmed the June 2026 dividend rate remains at 11.50% with no cuts or suspensions. The company's massive reserve of 843,706 BTC provides a significant backstop for its obligations. Industry opinions are mixed. Some analysts view the BTC holdings as reliable support for dividends, while critics like Peter Schiff warn of potential dividend cuts leading to price crashes and lawsuits. Others highlight inflation risk and the company's ability to reduce dividends without a formal default. In summary, STRC's drop is attributed to BTC volatility, competition, and technical factors. While immediate default risk appears contained, the product faces challenges from market conditions and competitive dynamics.

marsbit45 мин. назад

STRC Breaks Below $95: Why Does It Continue to Depeg? Is There Default Risk?

marsbit45 мин. назад

AI Trading Cools, South Korean Stocks Plunge 1.8%, Spot Gold Rises 1%, Bitcoin Dives

A sell-off in AI-related stocks, triggered by Broadcom's disappointing earnings forecast, sent shockwaves through global markets. South Korea's KOSPI led Asia's decline, plunging 1.8% as the risks from concentrated chip stock gains and surging leveraged investments came to the fore. The tech-heavy Nasdaq 100 futures fell 0.5% following Broadcom's 14% after-hours plunge, which signaled a slower-than-expected transition to AI clients. This pullback extended Wall Street's weakness, halting the S&P 500's nine-day rally amid hawkish Fed signals and renewed Middle East tensions. South Korean authorities convened an emergency meeting, pledging "immediate measures" against market volatility and warning of record-high stock margin debt. The adjustment rippled across assets: Bitcoin fell to around $64,000, its lowest since February, while safe-haven gold rose 1% on bargain hunting. Oil prices dipped on Middle East ceasefire news. Market analysts noted the sell-off was driven by profit-taking after massive gains, particularly in chip stocks like Samsung and SK Hynix, which now dominate the KOSPI. Wall Street banks are divided on Korea's outlook, with Goldman Sachs raising its target while Citigroup and others warn of overvaluation and a potential bubble. Bridgewater's Ray Dalio noted that great technological shifts often create bubbles. Meanwhile, Fed officials' hints at potential future rate hikes added to the cautious mood ahead of key U.S. jobs data.

华尔街日报1 ч. назад

AI Trading Cools, South Korean Stocks Plunge 1.8%, Spot Gold Rises 1%, Bitcoin Dives

华尔街日报1 ч. назад

Seeking Alpha's Hot Article: Why Might the U.S. Stock Market Crash in June?

In a recent Seeking Alpha article, financial professor and analyst Damir Tokic argues that the US stock market may be poised for a significant crash in June 2026. The core thesis centers on a "mega-bubble" in equities, particularly within the technology sector, which has driven the S&P 500 to near-record valuations, with a Shiller P/E ratio exceeding 40—a level comparable to the 2000 dot-com bubble. Tokic identifies two primary catalysts for a potential collapse. First, he points to unsustainable market exuberance fueled by what he terms the "Trump Stimulus"—massive AI capital expenditure by tech giants, which he believes is politically driven and cannot last. Second, and more urgently, he highlights the escalating Iran war as a critical threat. The ongoing closure of the Strait of Hormuz has created a severe global energy supply crunch. Strategic petroleum reserves are projected to hit critically low operational levels by June, potentially causing oil prices to spike above $200 per barrel and triggering a severe, supply-driven inflationary shock. This scenario, Tokic warns, would force the Federal Reserve's hand. Despite currently maintaining a dovish bias, the Fed would likely be compelled to officially pivot to a hawkish stance at its June FOMC meeting to combat soaring inflation and bond yields. He contends that such a shift—or even a failure to act, which would destroy Fed credibility—could be the trigger that punctures the market bubble. The resulting downturn, he concludes, could rival the bear markets of 2000 and 2008, advising investors to prepare for a major correction.

marsbit1 ч. назад

Seeking Alpha's Hot Article: Why Might the U.S. Stock Market Crash in June?

marsbit1 ч. назад

Торговля

Спот
Фьючерсы
活动图片