Originally, I wanted to write a post about @arbusai on Wednesday, and I had the angle figured out - "Attention Launchpad." However, I forgot to write it, and today I noticed that $ARBUS has doubled in the past two days, so the post is late.

Let's finish writing from my previous angle.

I classify platforms like Kaito, Cookie, and Arbus as "Attention Launchpads," which can be compared to the previous cycle's Daomaker and Coinlist.

What they are truly competing on is not the underlying algorithms (which are quite similar), but their TO B capabilities - whether they can continuously attract quality projects for launch. This reflects the project parties' understanding of the platform's user quality, participation depth, and conversion effectiveness.

Based on their capabilities, Attention Launchpads can be divided into three levels:

T0: Kaito (First tier, $270 million circulating market cap)

T1: Cookie ($89 million circulating market cap)

T2: Arbus ($1.9 million circulating market cap)

The recent rise of Arbus is due to $ARBUS token stakers being able to receive $RING airdrops. Given that it has already doubled, I estimate there will be some pullback.

Here, I want to focus on the collaboration case of Ringfence, as it reveals the true level of Arbus's TO B capabilities.

Ringfence has a circulating market cap of $6.6 million and has received investments from institutions like the Near Foundation and Morningstar Ventures. From the perspective of project quality, it is indeed good. However, the issue lies in the size limitation - the incentive pool that such medium-sized projects can provide is limited, making it difficult to support large-scale user participation.

A deeper issue is the ecological ceiling. Although the Virtuals ecosystem is the foundation of Arbus, the projects within the ecosystem are generally small in scale, fundamentally limiting Arbus's launch capabilities. In contrast, Kaito serves the top projects in the entire crypto market.

So, under what circumstances would Arbus see another significant rise:

1/ Break out of the comfort zone of the Virtuals ecosystem

This is the most critical point. Arbus must prove that it can attract quality projects outside of the Virtuals ecosystem.

2/ Find unique business model innovations

For example, like Surf, starting from the alpha mining end and gradually evolving into a trading platform. Or learning from Kaito's data service model to provide more diverse value to project parties.

Currently, the first possibility seems more likely.

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