It's quite amazing. I've found that the cryptocurrency world today is not fundamentally different from what it was five or six years ago! 😂

Let me ask, who still remembers the most typical projects of that time, FCoin and Fomo3D?

These two projects completely changed my understanding. Let me give a brief introduction for newcomers; it will reshape your trading perspective! —

1⃣ FCoin: Founded by Zhang Jian in 2018, it was the pioneer of "trading is mining, holding coins is sharing dividends," and the hottest Ponzi exchange of that year.

In simple terms: for every trade you make on the platform, you receive platform tokens (FT), and the platform promises to distribute 80% of the transaction fees to FT holders.

FT is essentially a continuously ongoing ICO, unlocked through a trading mining mechanism.

Imagine a scenario where an exchange's data, liquidity, coin price, and valuation are all fake, entirely driven by this incentive mechanism.

But as long as everyone is willing to play along, the fake can still rise, provide dividends, and manage market value.

Then comes the most impressive part —

At that time, probably half of the crypto community was trading on FCoin, with trading volume surpassing Binance. FT's market cap once entered the top ten, and before the collapse, it became the undisputed number one trading platform in the universe.

Calculating, for every 100 BTC in transaction fees, the team and early investors could pocket 59.2 BTC in real money. In just two months of this game, they could take away 53,280 BTC.

How many current ICOs can achieve such fundraising scale?

2⃣ Fomo3D: Low entry barrier + huge rewards, the most popular Ponzi smart contract game in 2018 that almost everyone reached a consensus on.

It didn't even bother with a narrative; the page was just a prize pool with a 24-hour countdown.

The gameplay was open and transparent, summed up in one sentence:

Buy Keys (entry tickets) with ETH to earn dividends. Each time a Key is purchased, its price increases, and the game time extends by 30 seconds.

The last person to buy a Key can take the entire prize pool. But as long as someone buys before the countdown ends, the countdown resets.

A complete money game!

Everyone knows this will eventually go to zero; everyone is voluntarily participating in an open fraud game, and everyone wants to take money from those in front of them.

This leads to the almost impossible scenario where no one can become the last person to claim the prize pool, allowing the game to continue until the collapse.

These two projects had a huge impact on my logic back then. FCoin changed my view on data, while Fomo3D changed my view on human nature.

All the new tricks that followed have not really exceeded these two dimensions.

Things like on-chain dividends, trading mining, incentive rebates, game betting, and countdown games, if you look closely and think carefully, are just re-skinned versions of FCoin and Fomo3D.

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