In mid-December, a major promoter of a leading public chain ecosystem participated in a year-end dialogue event. The exchange was quite information-dense — covering personal developments as well as systematically analyzing several key sectors and investment logic in the future of the crypto industry. Notably, his outlook on market prospects is worth paying attention to.

**Four Current Identities**

He describes his current state with four words: freedom, busyness, mentor, builder. It sounds contradictory, but once you see what he’s working on, it makes sense.

First is the educational project Giggle Academy, which is his most dedicated effort. A completely free children’s education platform, currently used by over 90,000 kids. That number is still growing.

Second is ecosystem investment. In the role of mentor, managing a $1 billion early-stage startup fund. Over the past year, he reviewed more than 1,000 projects, ultimately investing in nearly 70. This pace indicates a very strict project screening standard.

Third is ecosystem operations for a leading public chain. No longer delving into technical details, instead taking on a "head coach" role, helping projects within the ecosystem find long-term direction.

Fourth is a government advisor. Surprisingly, this is the most time-consuming part. He is providing crypto policy consulting for more than a dozen countries worldwide (including Pakistan, UAE, etc.), helping them build regulatory frameworks from scratch.

**Stablecoins Enter the 2.0 Era**

Regarding market outlook, he provided several clear predictions.

First, the stablecoin market is undergoing a generational upgrade. Stablecoins like USDT, representing version 1.0, only solved one problem — price stability. That era is about to pass. The new era’s winners must combine three features: yield-generating capability, ensuring ease of circulation, and obtaining regulatory compliance. These are the standard features of stablecoins 2.0.

The logic behind this judgment is straightforward. Why would users hold a stablecoin with no yield? Opportunities are abundant in the market; holding it incurs opportunity costs. Therefore, the next generation of stablecoins must generate yields. Additionally, ease of circulation determines real application value — they shouldn’t only circulate within a single ecosystem. Compliance is a prerequisite for long-term survival — this is the foundation that institutional funds are willing to enter.

In specific assets, he favors projects that excel in all three dimensions.

**Shift in Investment Logic**

Looking at his actions over the years, his investment approach has evolved. Early on, he might have focused more on technical indicators; now, he emphasizes ecosystem adaptability and long-term sustainability. Screening over 1,000 projects with a $1 billion fund and ultimately investing in 70 indicates increasing standards.

The setup of ecosystem funds itself is quite interesting — it’s not just simple financial investment, but also supporting projects with capital plus mentor resources. This means projects receive not only funding but also access to experienced advisors and resource networks.

**Emergence of the Policy Advisor Role**

The role of government advisor is relatively new. He’s designing crypto regulatory frameworks for more than a dozen countries, reflecting a trend — countries worldwide are shifting from "how to prevent" crypto asset risks to "how to develop healthily." Countries like Pakistan and UAE see crypto as a new driver of economic growth.

This role is essentially helping countries that want to enter the crypto space but lack frameworks to set the rules of the game. Its influence extends beyond simple commercial investment.

**Summary**

From this dialogue, several signals emerge: the stablecoin market is shifting from feature competition to comprehensive competition; the next decade belongs to products that offer yield + circulation + compliance; ecosystem investments will become more refined, as simple technological innovation may no longer suffice — true market adaptability is needed; policy support is becoming an important variable for the long-term development of the crypto market. These insights should be valuable for understanding future investment directions.