In 2018, I joined a DEX project developed based on the Loopring protocol as CTO. At that time, the entire team was highly motivated, and everyone believed we could achieve something significant. However, in the end, the project couldn't withstand the challenges, and the funding chain ultimately broke, leading to the team's dissolution.

Looking back, this experience actually reflects the common dilemma faced by many Web3 startups at that time. The market was highly overheated, and fundraising relied on stories, but very few projects managed to survive. During that period, similar DEX projects emerged endlessly, with competition becoming brutally fierce. We tried to innovate based on existing protocols like Loopring, aiming to leverage their infrastructure for rapid deployment, but ultimately, we couldn't find genuine market demand and had to withdraw quietly.

This failure taught me many lessons. Entrepreneurship can't rely solely on passion and technology; it's more important to understand the market, find a differentiated direction, and manage cost expectations. Especially in the crypto industry, where cycles fluctuate violently and fundraising is difficult, once funds become tight, there’s little room for maneuver. I hope this story can provide some inspiration for future entrepreneurs.