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Boop.Fun leading the way with a new launchpad on Solana.
In the past couple of days, there have been reports of projects running away with funds in the crypto space. It's expected, yet still disheartening.
Running a project isn't just business; it's a heavy burden of trust.
Since 2021, when the old boss started leading the team, to be honest, I've never relied on project funds to make money. In fact, every time funds come in, my first reaction isn't excitement, but a bit of panic.
If the project loses money, that's bad. It means I haven't helped everyone earn and have let down their trust.
If the project makes money, that's also bad. Human nature is always greedy; next time, there will only be expectations for more.
The available funds for each project are limited. The larger the investment, the risk can increase exponentially.
So before every investment, I do three things for the investors: enhance their understanding, emphasize the risks, and lower their expectations.
I never actively encourage investments, nor do I accept funds from outsiders. I only open up to those who contribute to the team and within the team. Although there are dividends, behind that is a deep sense of fear regarding funds, results, and trust. Engaging in something akin to selling drugs while earning money like selling cabbage, this kind of pressure is hard for outsiders to understand.
Regarding project funding, let me share our logic and risk control.
First and foremost is ensuring the safety of funds, so we have implemented three layers of encryption for private keys. At the same time, the team is developing an MPC wallet for fund management, where the complete private key will only be stored in individuals' hands. We only handle operations and do not touch the funds.
However, I firmly believe that no matter how technology evolves, absolute security cannot be guaranteed. What I can do is stay true to my principles and maintain a sense of respect.
Additionally, for each ongoing project, we will regularly report to investors, with all strategies being fully transparent.
For projects that have already concluded, we will also conduct reviews and publicly disclose non-sensitive addresses for all investors to monitor, unafraid of any challenges.
I won't comment on how others run their projects; I just hope this industry can have a bit more respect. It's not easy for everyone to make money; a little more caution and a little less running away will allow us to go further.
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