Projects
![]()
No projects found
Investors
New
DAO Treasuries
DATs
Lend / Borrow APRs
Chains
Categories
Spaces
Episode 01: Preparing for the 2024 Bull Run
Recorded: Nov. 20, 2023 Duration: 0:53:48Space Recording
Full Transcription
And that's why I'm in this market.
That's why I'm here.
And so I wanted to start off this first episode by discussing a question that I think is on
everyone's mind is the upcoming 2024 bull run.
How will it happen?
That basically sums up the bull run.
And so why is the bull run so significant is because, well, it's going to play a crucial role in how the next two, three years look like for the Web3 space.
And this affects us, and this affects, and this affects lots of projects, lots of projects, lots of projects, lots of basically like the NFT markets and all of those things.
And so we have the same things that we're going to do.
And so we're going to do.
And so we're going to do a quick dive.
And so we'll do a quick dive and get right into it.
But I'll let Shrey continue right now.
Thanks.
So we'll start off by getting to know Eaton.
Hey, Eaton.
Your F2 Tommy just recommended us to the Juby Builder demo day.
So I wanted to say a quick thanks to Bayerson for being such a great partner.
Could you please give the audience a quick introduction about yourself, how you got into Web3, and a brief background about Bayerson?
Okay.
Yeah.
Can you hear me?
Yeah.
Loud and clear.
Okay.
Okay.
So hi, I'm Eaton from Bayerson.
And it's my honor to be invited here and to recommend the RIF network to the Juby demo day.
So currently, I'm working as a security researcher in Bilsen with a focus on the smart contract audit and also user security.
And so let me do a quick introduction about Bilsen.
So Bilsen is a blockchain security company, and we provide the smart contract audit service and also the KYT Know Your Transaction, AML, and also crypto tracing for users.
So currently, we just all did more than 3,000 smart contracts, including Pancaswap, Roni Network, Doodle Finance, like that.
So yeah, thanks.
I'm happy to be here.
Yeah.
Thanks.
Thanks for the introduction, Eaton.
That's a great profile you got there.
Now moving to Adrian, the CEO and CEO of Lydian Labs.
Adrian stands as a key visionary within the Web3 space, known for his pivotal role in nurturing and scaling various groundbreaking projects into multimillion-dollar ventures.
His vision and talent to cultivate people and organizations epitomizes the essence of entrepreneurial triumph in today's digital age.
Could you give us a quick introduction about yourself, how you got into the Web3 industry and on Lydian Labs, please?
Hey, can you guys hear me?
Perfectly, yes.
Yeah.
Hi, guys.
I'm Adrian.
I've been in the space since like 2017.
So I've been through some shit.
Used to be from Web2.
I'm still running my Web2 translation agency with about 700 people in 14 countries.
But about two years ago, we started Lydian.
A little bit more than two years ago, I started Lydian with my co-founders, Max, Ian, Noel, Joe, and Casey.
So Lydian, essentially, basically what we do is we're a marketing agency.
We're focused in Southeast Asia.
We're good in Southeast Asia.
But recently, we've expanded to the APEC market as well.
So basically, Japan, Korea, Taiwan, China as well.
We've got inroads into China.
So basically, we help our clients market their products or their projects over there.
We also do PR.
We do a bunch of stuff.
So basically, everything and anything in between for consulting, marketing, and tech, we do.
We also work with VCs from the top-down level.
We service their portfolio projects.
And yeah, essentially, in a nutshell, that's what Lydian does.
Thanks.
Thanks for that, Adrian.
Sounds like you're doing some really exciting stuff.
So we'll get into it.
We'll start with Adrian this time.
Adrian, I was wondering, what key trends do you foresee in the Web3 space leading up to the 2024 bull run?
How do you anticipate the market dynamics evolving in comparison to maybe the previous bull runs?
I think the previous bull run was basically like DeFi summer all over again.
Basically, we've seen DeFi projects, shit coins.
Basically, everything that you touch will probably at one point do 100x, right?
Although not akin to the 100x back in doing ICO season.
But I still think it made quite a number of people really, really rich, really, really fast, right?
And then all that money basically went into companies like Celsius, FTX, and a bunch of other stuff, which we all know what happened to.
So I think this coming bull run, people will be more careful.
They'll be more savvy with their money, right?
That's a good thing, right?
So basically, projects are going to have a harder time convincing people to give them their money.
But once you actually do, you're good, right?
So I think the coming bull run will see a lot of adoption, especially for infrastructure projects, projects that actually manage to convert these users into their community, right?
And once they do, I think 2024, 2025, we'll see hopefully a six-digit Bitcoin.
Nice. We're all hoping the same.
We know Lydian Labs goes to a lot of events.
Have you seen any specific types of projects or sectors within Web3 that you believe will experience significant growth?
I think, among other things, I would say infrastructure is the next thing, at least for me, right?
Because in my personal opinion, as much as we all love Web3 and decentralization,
there still needs to be something that ties us to our daily lives, right?
So in that sense, I think payment solutions, as many as they are right now,
they are new, up-and-coming ones every single day, offering better and better rates.
So the competition is good.
For us as users, we get lower and lower rates.
Their margins get slimmer, of course, but then again, with more users, that kind of makes up for it.
So I definitely think that payment solutions, cross-border transactions, cards, digital wallets that allows you to pay on a point-of-sale POS systems
around the world with Visa, Master, UnionPay, Amex, all of these things will be the next catalyst to bring in the next wave of users for the next bull run.
Okay, interesting.
Given the unique characteristics of Web3 space, what marketing strategies do you believe will be most effective during the upcoming bull run?
Right, okay.
So for Lydian specifically, it really depends for projects whether you are pre-raised, post-raised, if your product is already ready or not.
But basically, we encourage all projects to definitely have a strong digital footprint.
Basically, what that means is that whenever they launch, they should definitely spend a little bit of money on PR to get the digital footprint out there.
It basically improves their SEO so you can actually target people who essentially didn't know about you to come and look for you.
A strong community is the next thing, I would say.
So basically, we help our clients with daily engagements.
We give them community management because what I'm seeing is that a lot of projects after the bull, the past bull, during the mini-bear,
I would say a lot of the community just kind of died out.
There's little to no moderation.
So keeping the community alive and well is something that I think is super important, especially if you want to get back on your feet.
So daily activities, weekly AMAs with partner projects, even competitors.
I think competitors make the space better for everyone.
It widens the market, kind of like a deeper pool for everyone to dip in.
And yeah, basically those things, coupled with some promotions by KOLs and cross-marketing with other community groups, that's important as well.
We also provide market-making services.
So basically, projects should definitely take note of the amount of tokens they have available when designing tokenomics.
Because eventually, when you need to list on SEXs and DEXs, you're going to need that token allocation, even for your market makers.
So, yeah.
Okay.
Thanks for that.
Zeke, maybe if you have any...
Yeah, no, I had a couple of questions.
Starting from what you said at the very beginning, you said that, you know, everything before in the last bull run was going 100x, anything you touched.
Do you think that there's potential for that sort of wave to happen?
And if it will, what do you think might trigger that?
FOMO.
FOMO, yeah.
Yeah, and which industry and which style, where do you think that that will start from?
Because obviously, you said that people are wary.
They're a little bit like, hmm, they're going to be more savvy, more smart.
So what's really going to trigger that FOMO, in your opinion?
Yeah, I think people are going to be savvy and smart until they see the next PayPay going 100x, 1,000x.
Yeah.
You forget everything, right?
You see the green numbers.
Yeah, you lose all sense.
It's to the moon.
When I started in crypto, we were farming on, what's this website, Beefy?
It's a yield aggregator site, and we were looking at quadrillion percent APYs.
So that was nice while it lasted.
And then everything kind of turned to shit.
So I think the catalyst for the next one, I really can't say, right?
But I genuinely think that shit coins are a tried and tested way of making 100x really, really fast, you know?
All in or no in, right?
That's true.
And then people are probably going to cycle their gains from shit coins to DeFi protocols to layer ones,
and then to other projects that they feel conviction in.
Yeah.
Okay, cool.
That sounds the right about answer.
Okay, Shrey, you can have it back, and we can carry on.
That's all for me.
Yeah, thanks for that.
Coming to Eaton, have you seen any similarities to this in the auditing world?
Or maybe have you seen any increase in infrastructure audits or any similar trends?
Oh, yeah.
Okay.
Yeah, so one trend that we've seen during our auditing projects or being a judge,
in different hexons, so it's the AI combinations with Web3.
So it's AI plus Web3.
We see, so we have seen many, many crypto projects combining AI or GPT.
So to solve content creations or social networks, something like that.
So the trend in the hexons is very different from the past ones.
So currently, we can see there are many projects which is focused on the social track
or on some content generations, something like that.
And that's one trend that I, in my opinion.
So another thing that we should pay attention is about the Telegram board.
So although there are some centralized risks or there is some lack of transparency,
Telegram board is very good for the...
And very, very easy for Web2 users to use crypto and trade crypto.
So that's the point that we should pay attention to.
And so for me, if we can meet the 2024 board run, I think there should be an increase
in the institution adoptions and also investment for Web2 users.
So we can see there are many, many countries and regions making some regulations on the stable coins
and also ETFs, right?
Yeah, interesting.
That's great.
I mean, I think that there's a little bit of similarities in that sense.
Adrian was just mentioning that there have been some, you know, the community is very important.
And you've also said that you've been seeing a lot of social track and content generation
that has been happening.
So that's great to hear.
Another question that I had was in anticipation of increased activity during the bull run,
how does BayoSend recommend Web3 projects to enhance their security measures?
Yeah.
Oh, okay.
That's a very good point.
So the first one is that they need to do the test-driven development in their project development process.
So developers should make thorough testings for their smart contracts
and also the front-end and also the back-end codes.
So that's the first steps for them to increase the security of their projects.
And the second one is that they need to make an audit or different audits from different companies,
from different security companies to ensure that their smart contract is bug-free.
So that's the point.
And if they want to make some upgrades or upgrade on their smart contract,
so they need to reconsider the whole business logic and to avoid the modification may cause some potential vulnerabilities in their smart contract.
So, yeah, that's the point.
Okay.
Yeah.
Okay.
Thanks for that.
Okay.
Nice.
I just had a quick question.
You had mentioned earlier that one of the trends that you were seeing was AI during your audits and stuff.
So I was wondering on your personal analysis, how do you see this affecting the NFT space, for example?
And then for projects that are looking to just begin, like they just have an idea,
they will build their smart contract, they will build their whole project.
So how do you think that AI will affect them?
Because of the generation and the content, it's all so, I guess, like high quality and can be done at a high quantity as well.
So this time around when projects launch, how do you think that that will be affected?
Okay.
Sorry, Zach.
Can you repeat the last questions?
I was just saying that, like, with the NFTs, the NFT market, how will AI, like, really make an impact to projects that will be looking to start up,
that haven't started up yet, but they are looking to start up, do you think that they will be kind of drowned out by the power of AI?
Or do you think that projects that can utilize it the best will stand out?
Or maybe the old school way of just, like, building community and not worrying about AI?
Like, how do you think that the market will be affected?
Yeah, that's a good question.
So especially for NFT markets.
So the AI that I just mentioned, so those projects are using AI for, for example, to communicate with users.
So those projects are not using AI for the, I would say, the PNG generation, the image generation.
So for me, just personal, just personally, personal thinking.
So AI generation NFT is, I mean, they are ruined the NFT markets.
So since NFT markets is currently lacking the liquidity, and I guess NFT is suffering from liquidity and also lack of users currently.
So I guess if there are many, many NFTs used or generated by AI, so that would be, that would be more, that would be, that would be worse.
So if, if many startups just used AI to generate many, many images and, and call these images NFT and sell them to the users.
So that would be, that would be very, so I'm not, I'm not recommending doing that.
So that's my point.
Okay.
Okay, nice.
Thanks, Ethan.
Really insightful stuff.
Thanks for sharing.
Adrian, I was wondering, as we all know, during the bull market, there's a lot of volatility.
How does your agency help clients navigate the volatility that often comes with bull markets and the crypto space?
So volatility as in token price?
Yeah, volatility in token price as well as volatility in when you're handling your clients.
Different, different aspects, you know, things, one day it's really up, one day it's really down.
And that's pretty much with everything, with sales, with NFTs, and with cryptocurrency.
So I was just wondering, you know, how does your agency help you navigate your clients through this period?
I think, I think right now, especially since we're in the bear, kind of still in the bear market, but, but picking up away from that, we are seeing a lot of projects that are gearing up for launch early next year.
So, projects that have launched today with the ready market, sorry, excuse me.
Projects that have launched with the ready product are currently acquiring licenses, getting ready to kind of like hit, hit, hit the ground running, especially when the bull market hits.
So, for our agency, especially, basically what we do is, during this time, we help them acquire users as much as possible for their products, for their community, and then we keep them engaged.
So the idea is to keep them engaged until such a time when they have a bullish launch, their token launches, their product launches, or they launch some new feature, or they support some new region.
We have a payment provider partner that is currently, like, it's just like tap and pay, all bit, right?
But they're not available in all regions just yet, but for the regions that they are available in, you will basically be able to like, basically open up your wallet, tap on the crypto you want to pay, and then just tap it at a credit card terminal, and that's it.
It's that simple, there's no card, there's no, nothing, and their fees are like insanely low.
So, then there are other providers, like Plutopay, that basically are issuing a card, a physical card, and this physical card can basically be issued to you, and then you can spend it anywhere, wherever you want, right?
So, there's like two different, different kinds of projects, but all the same, going back to what I said earlier, community is, for me, the most important thing, because end of the day, they are the ones who's going to be using your products or support your project, right?
So, that's our key focus right now, as well as getting more visibility for our partners.
We've been doing quite a lot of PR recently, we're getting more and more inquiries, which seems to be a positive trend, making us feel like more and more people are feeling like the bull run is coming.
So, that's essentially what we do.
We also have some other clients that essentially are seeing a lower volume because of the bear market on exchanges.
So, they enlist the market makers that we have to essentially help them do volume management to keep their tokens listed, and to basically overall promote a healthy chart.
Okay, yeah, nice.
I was also wondering, what risk management strategies do you recommend to Web3 projects to safeguard their marketing efforts during these marketing fluctuations, during this market fluctuation, sorry?
Right.
I would say, spend your money where you get the best bang for your buck, right?
So, if your project is not yet ready, don't sponsor events, maybe just yet, because basically sponsoring events, we do that as well.
When you sponsor events, it's when you already have a ready product, you're looking for something, and you want people to gather there so you can network and get to know them better, and hopefully that's a win-win for everyone.
But when you sponsor events, when you're not ready, you're basically kind of like networking, yeah, but there's better places to spend your money during that time.
I would say, spending your money on probably a PR piece would be good.
Doing community management, user acquisition for your project would be good.
Ensuring your tokenomics is done properly and well.
And as Zeke said, getting your project, your token audited by multiple auditors, if you have the budget, is something really, really important as well.
So, yeah.
Yeah.
Okay, nice.
And when are we thinking the bull run is starting?
When is the good news coming to everyone?
I honestly don't know.
I've been DCAing Bitcoin since 2017.
So, I would say, for me personally, the trend that I've been seeing is that usually after the halving, it kind of dips a little and then it goes up.
Yeah.
So, I personally am looking at 50,000 Bitcoin by end 2024 and a six-figure Bitcoin by 2025.
Okay.
And when do you think products should prepare for launch?
Around what time would you say, would you recommend is an ideal time?
I would say, when the market starts to have a slight uptick, I would say, like, around the halving would be a good time.
Yeah.
Okay.
Just to kind of leverage that kind of buzz going around the crypto space, right?
Yeah.
So, do you think that then if I'm, like, if there's someone at home sitting and they're thinking about launching a project right now,
would you recommend them to, like, slowly start in this market or kind of, like, wait for when things start to go up?
Like, what about timing or do you think it doesn't matter at all?
Like, start, put in the work.
What do you think from that perspective?
I think you should definitely put in the work, right?
If you don't start and you just keep waiting, nothing's going to happen.
So, I would say definitely start.
If you're a first-time project owner, you need to probably find your product market fit.
If you're just forking projects, then probably not a good idea.
But if you already have an idea that you think is going to work and you have partners and you're a technical founder,
100% try and launch your project.
I know projects that have started during the bear market, developed through the bull market,
and right now we are in the bear market again.
But they're going to launch during the upcoming bull.
So, it's a journey.
So, I would say better now than never.
So, yeah.
So, basically, there's no, like, stop trying to time your projects.
If you have an idea, you have something you want to launch, go ahead and launch it.
Because there will be, like you said, lots of hurdles along the way.
You need to find your product market fit.
You need to sort out your budgets, everything.
So, basically, start ASAP, I guess, right?
Yeah.
You'll figure it out as you go.
So, I mean, yeah, pretty much.
Figure it out as you go.
Okay.
Gotcha.
Thanks so much for that.
Oh, good, bro.
Thanks.
So, Ethan, regarding volatility in Web3 security auditing, do you mind sharing some examples of security vulnerabilities
that tend to happen more frequently, especially during periods of heightened market activity, such as the bull run?
Yeah, okay.
So, in 2023, so the most impressive or the most impressive vulnerability for me is the Viper compiler.
I think it's a mistake, or we can say it's a vulnerability.
So, that's the curve pool, the curve finance pools, so exploits.
So, that's the vulnerabilities in 2023.
That's the biggest vulnerabilities in 2023.
Right.
And what about, what are some things that you think you'll see more vulnerabilities during the bull run?
Do you have any predictions of some things that you think you'll see more vulnerabilities during next year's bull run?
Yeah, to be honest, I think there will be more and more vulnerabilities since the crypto market is always, I guess, how to say,
the development of the crypto market is always ahead of the development of security.
Right, yeah, that's a very true point.
Yeah, so that's the point.
And so, in the next bull market, in the next bull market or next bull run, so I think there will be more projects or more users coming into the crypto.
So, and there may be more and more security incidents happening, so in the next bull run, until the security infrastructures and also the awareness of ordinary users increased.
So, that's my point for the, yeah.
Okay, thanks, Zeke.
Do you have any ideas?
Nice.
Actually, I just had an unfinished question that just popped up.
I'd just like to ask Adrian again.
I just wanted to ask, because last time I asked you about, like, projects that were, like, ready to launch or thinking about launching.
I wanted to actually ask, what if, like, you have nothing to do with Web3 and you're a Web2 business, but you're kind of, like, seeing this news and you're like, hmm, should I grab on?
What can, like, what can, like, the Web2 marketing space of a business do?
Do they, like, you know, create their NFTs and try to figure out?
Do they do vouchers?
How, like, what would be your recommendation to a Web2 business trying to capitalize on the Web3 momentum that's coming?
Okay, so, if you're a Web2 business looking to just get into Web3 just because you heard of it, it might be a bit of a tough sell because it's two completely different markets, right?
People who buy NFTs in Web3 are basically looking to make a quick flip, but NFTs are not just to make a quick flip.
So, case in point, there is a company in Hong Kong, what is it called? Dotted, I think.
They basically have an NFT wallet that lets you talk to your NFT holders.
So, I think that's something really interesting.
So, if you implement that as a Web2 business so you can reach out to your customers that have your NFTs and say, hey, guys, if you come in today, you get a free coffee.
That might work, right?
But, you know, I've seen quite a lot of NFT projects launch with Web2 brands just to end up having it kind of flop.
Yeah.
Because I feel like Web3 is something that Web2 brands can definitely adopt.
Like Malaysia's COVID tracing app is on the blockchain, right?
Like, the foreign telegraphic transfer in the bank I use uses Ripple to facilitate instant transactions across the border.
So, I honestly feel like there needs to be a proper use case for the Web2 businesses to venture into Web3 other than the fact that, oh, hey, if I go into Web3, I'm going to launch an NFT and then I can make a couple hundred thousand and I can use that for my business.
I think that's the wrong way of thinking.
Rather, I feel like the NFT aspect or the Web3 aspect should be something to add on to your business as an addition to improve it rather than just as a means of raising money.
Yeah, no, I agree.
I agree with you.
And I've seen a lot of businesses like Web2, especially they try it.
They don't really know what they're doing, but they're on the hype train and then it all just flops over.
And I think it's mainly because they're not structuring the Web3 around their Web2.
They're kind of trying to fit in and all of that.
So, I think that that's valuable advice.
Can you remind me again, what was the tool that you mentioned that you can talk to your members that hold your NFTs?
What were you saying about that?
I think it's called Dotted.
Dotted.
D-T-T-D.
Okay, got it.
And so, that will let you – because I think that's also super important because I think if you're a Web2 company and your audience is Web2 and they get an NFT, immediately the idea is like, oh, my God, this company is just trying to make money somehow, somewhere.
But I think there's that communication.
It almost feels like Web2.5.
Yeah.
So, I think that's the best way.
So, I think that's really valuable what you mentioned there and the project that's actually trying to do that.
So, that's really cool.
Yeah.
Yeah.
So, I had another question.
Speaking about you mentioning different countries, I was wondering, do you anticipate any regulatory changes that could significantly impact Web3 marketing in the upcoming bull run?
Web3 marketing, not so much.
I mean, the more friendlier regulation – the friendlier regulations are, the better it is for us as a marketing agency because people will – people within that region will be more likely to start up companies and spend with us, right?
But then, I think – let me think.
Which country was it?
They have a 30% flat tax on crypto.
Let me think.
Yeah.
Yeah.
I think India has a 30% flat tax on all crypto income.
Yeah.
And 1% tax on any trade above $120.
So, these kinds of regulations make it difficult for adoption, right?
Whereas, like, Singapore, basically, their Monetary Authority of Singapore just says, like, they're super friendly.
Cryptocurrencies are just a part of the digital asset ecosystem, and they're super supportive of it.
You just got to be regulated.
Yeah.
Yeah.
Yeah.
Understand.
Okay.
Coming to the tech side, Ethan, as blockchain technologies evolve, how does Beosyn adapt its auditing process to address new challenges and new threats that may emerge?
So, first one, we have a vulnerability database.
So, we will collect the known and unknown vulnerabilities in the crypto market.
So, currently, we have the vulnerability database, and when we do auditing, we will use the vulnerability database to check the auditing smart contracts.
So, that's the first point, and the second one is that for smart contract audit, we would use the formal verification, which is using mathematical induction to prove that the smart contract is bug-free,
or the smart contract will perform as they expect it, so that's the point for solving the threats or vulnerabilities that are in the crypto market.
And, yeah, so that's the method.
And, yeah, there's one thing that I want to add for the AI, since I just mentioned AI and talked to Zach.
So, I don't know that if you have seen a meme, which shows that there are many Web3 developers, so turned into the AI track.
Yeah.
Yeah, yeah, that's definitely one thing that's an upcoming trend that's been coming up with a lot of AI, especially.
We've been seeing, you know, things like ChatGPT and things that are now coming into, like, the mainstream.
So, now seeing it come into Web3, it will be very interesting.
I'm looking forward to how that plays out.
Thanks.
Thanks for that, Ethan.
Now, lastly, I'd like to ask Adrian, what lessons have you learned from the previous bull runs, and how do they inform you?
How do they inform your approach to Web3 marketing in 2024?
Hello?
Yeah.
Lessons I've learned on a personal level, cash out in December.
But as a marketing firm, I would say we generally do not accept tokens as payments.
But in hindsight, during this mini bull market, we kind of should have.
Because some of the projects that we've helped do their marketing and market making and community shilling, we actually, there's one project recently, we pumped their market cap by $400,000.
And in two weeks, their token did $4,000, and we didn't accept tokens as payment.
What a shame.
We did the last mile marketing for Hooked.io.
They were on Binance Launchpad.
Again, we didn't accept tokens, so we would have 20xed.
So I guess, as a marketing agency, sometimes you've got to be a little bit flexible.
So I would say, since then, our policy has changed.
It's on a case-by-case basis, but at times, we do accept tokens.
Although not full tokens, we still need to pay our people.
So yeah, we can do a portion of tokens.
Are there any common pitfalls that you advise clients to avoid during these markets, during the market when everything is going crazy and everyone's happy?
Are there any pitfalls that you tell clients to be careful of these things, maybe some advice that you give to your clients?
At the moment, personally, within Lidl, we typically do not advise clients on their hiring practices or whatnot.
But I have a project myself as well, and typically, I would say that during a bull market, we try not to get overly optimistic and to preserve runway.
Because as we've seen from the past, several past bull and bears, most projects die because they run out of runway, and they are unable to achieve that kind of profitability, that operational sustainability to sustain themselves.
So I think it's really important that once the product is ready and launched, there needs to be some fine-tuning done to the business plan to basically generate revenue for the project such that it can sustain itself.
And actually, it's a real business as opposed to merely running off the fumes from the VC money that they have received.
So I feel like projects like these are one in a million.
There's not many like these out there, but yeah.
I think that's completely right.
And I wanted to pick up on your point where you said about runway, and I've seen it actually, and been around projects that just don't budget their runway the correct way or over budget.
And then they just basically few are, and then investors are angry and stuff.
So I wanted to ask, what would be your recommendation for a runway?
Like, is it like a two-year, three-year?
Is it not the years?
Is it about percentage?
How do you come up with a good runway amount?
And how do you judge that for someone just starting their project?
I don't think that's a fixed rule.
But generally, at every point of iteration of your product, you need to judge whether the iteration is revenue positive or not.
So depending on how revenue positive you are, then you can judge.
Like, okay, say for example, I have a project and we're making like 20 grand a month, right?
So we can comfortably say that, okay, like next year I'm going to double up.
So I'm pretty safe to spend like $480 towards the next run, right?
With the 12-month runway.
But then there are other projects that are kind of bootstrapped.
The founders are technical founders, but they hire external vendors to help them out with some stuff.
Projects like these, some that I know of, I've heard the longest one I've heard is like they have like three, four years of runway.
Which is not entirely a bad thing.
Like they won't pretty much outlast a bear market.
It's just that when you receive VC money, there's always that pressure to achieve a multiple on your token.
So you shouldn't be too conservative in your runway.
But at the same time, you shouldn't go, for lack of a better phrase, balls to the wall, to the point where you only have two, three months worth of runway.
And you always have that kind of pressure on your back to always have more money.
I think that pressure kind of kills any and all innovation because most of your waking hours are spent like, shit, am I going to have enough money for next month?
Yeah, right.
Yeah, no, I, okay.
So, so basically the lesson here is like assess your situation and keep, keep a balanced approach.
Because like going balls to the walls is kind of like going FOMO, right?
Like you're, you're kind of going all in and if it doesn't work, that's it, done.
But I, and I think like when projects do come into this new, new wave of the bull run, they'll, they'll definitely have that in mind.
Because like you mentioned before too, everyone's just going to be more intelligent about how they act.
Yeah.
Yeah.
Yeah.
Okay.
Thank you so much.
Some, one, Adrian, some final notes to marketing managers out there listening.
Any, any words of advice for the upcoming run?
Um, how do you play the bull run to these marketing managers?
I mean, um, I would say the best time is to build your footprint during the bear market.
Um, basically Lydian launched during the bull market.
And during that time, we honestly didn't have that many clients because our portfolio was rather small, but throughout the entire, um, bear market, bull market, we actually attended.
I would say like 80, 70, 80% of any and every event out there in Southeast Asia, basically to expand our footprint, to find new partners, um, to get new clients.
And I think you should just keep grinding at it because, um, I would say that personally for Lydian, our aim, our goal is to be as versatile as possible, such that we can help our clients from point A to point Z at any point of time during their project life cycle during the bull market.
And all of that is not going to happen like overnight, right?
Rome wasn't built in a day.
So we've spent, I would say the past two years increasing our footprint across the Southeast Asia and APEC region.
Next year, we're going to go into the Middle East, the MENA region, um, along with the CIS countries.
So it takes a lot of work, but, um, I would say build during the bad and, you know, you can read the rewards during the bull because by then you will probably have the resources you need to help your clients during the bull run.
Yeah.
Well, thanks.
Thanks for that.
I think that's, that's some great advice to them.
Um, I think using this time right now to create a base and create a community and basically stamping your footprint on the, in the Web3 market is the ideal time, uh, for Eton, just one last final suggestion for builders.
How, how do you think they should be playing this bull run?
Yeah.
So, uh, so currently they need to stay set for, so, uh, keep their, keep their crypto assets safe.
And, uh, uh, I just, uh, want to just, uh, keep, keep building and, uh, join more hackzons and build your, build your own fan in the, uh, crypto communities.
So that would be the, uh, I guess that, I guess that would be the most precious, uh, things in the, in the Web3 space.
So, uh, you can, you can, you can, you can create more, uh, create more, uh, useful tools or, or valuable projects for the users and also for, uh, developers.
Yeah.
Yeah.
That's the, that's the point that I want to say since, uh, today I've met a very, uh, very useful, a very useful tools for auditing smart contracts.
So, so, yeah, uh, it saved my day.
So, could you, do you mind, do you mind sharing that tool with us?
Yeah.
So, uh, uh, uh, it is called audit wizard, audit wizard.
Sorry.
How do you spell that?
Uh, audit wizard.
Yeah.
Audit wizard.
Wizard.
Okay.
Yeah.
W I Z A R D.
Okay.
Okay.
Yeah.
So, yeah.
So that's, uh, that's a group of developers that built for our auditors.
So built for the auditors in the Web3 space.
Yeah.
Uh, I was so, uh, touched and yeah.
Very grateful for them.
So amazing.
Amazing.
Well, thanks.
Thanks for sharing that, um, that tool with us.
So all the builders out there, well, here you go.
Here's a gift.
Here's a gift to you.
Uh, yeah.
Yes.
Anyways, just, uh, to wrap it up.
Thank you so much, uh, Ethan and Adrian.
That was an incredibly insightful conversation with, you know, two experts in their respective
fields.
Uh, thank you again for your time and words of advice, uh, to the audience.
Please let us know if you have any questions in the comments and we'll try to answer them
in the coming days.
Make sure to keep an eye out for our next space, which we'll be announcing very, very
soon.
Uh, this is Shane Zeke signing off and looking forward to seeing you all soon.
Thanks.
Thanks everyone.
Thank you everyone.
Take care.
Thanks for everyone for joining.
Yeah.
Bye.
Bye.
Bye.
Bye.
Bye.
Bye.
Bye.
Bye.
Bye.
Bye.
Bye.
Bye.
Bye.
Bye.
Bye.
Bye.
Bye.
Bye.
Bye.
Bye.
Bye.
Bye.
Bye.
Bye.
Bye.
Bye.
Bye.
Bye.
Bye.
Bye.
Bye.
Bye.
Bye.
Bye.
Bye.
Bye.
Bye.
