Analyzing the Three Key Conditions for Ecological Survival Through Bull and Bear Markets: The Construction Practices and Internal Logic of the TRON Ecosystem in the AI and DeFi Fields.

When the rising tide recedes, the market faces its true test. In the ongoing downtrend, short-term narratives gradually lose effectiveness, and more projects reveal weaknesses that make it difficult to navigate through cycles. The real test quietly arrives: without incremental capital, lacking emotional premiums, and with narratives gradually losing effectiveness, what does a project or ecosystem rely on to traverse cycles?

The answer is: continuous, genuine value creation that does not depend on market sentiment. Even during periods of overall market downturn, we can still see such ecosystems in action. Taking TRON as an example, its ecosystem has not stagnated due to market fluctuations: from the significant launch of the SUN Chinese brand "Sun Wukong," to the second buyback and burn of JST, and the full launch of the AINFT AI service platform, these actions collectively outline an ecosystem that is still actively building and progressing on multiple fronts.

TRON's multi-faceted practices reveal two key focal points of long-termism in the current context: the infrastructuralization of AI and the structural resilience of DeFi. This edition of the SunFlush roundtable focuses on these two dimensions, delving into the conditions necessary for an ecosystem to survive through bull and bear markets, as well as TRON's practices in AI infrastructure and the DeFi space. Below is a recap of the highlights from this Space roundtable discussion.

Three Key Conditions for Ecological Survival Through Bull and Bear Markets: Healthy Operation, Cost Advantage, and Internal Circulation

In the context of an overall market slump and tightening liquidity, a series of previously hot phenomena began to recede. This prompted industry participants to calm down and examine a core question: when the noise fades, which ecological designs can withstand the cold, rather than merely relying on seasonal prosperity?

Around this core issue, Crypto.0824 pointed out in the discussion that long-termism is essentially a result of systematic design. He summarized the ecosystems that can truly survive bull and bear markets into two conditions that must be met simultaneously: First, the infrastructure must continue to operate healthily even under low activity levels; its economic model should not rely on high transaction volumes to sustain itself, which is the underlying logic for resisting cycles. Second, the cost structure must be transparent and extremely low; in a bear market where users are highly sensitive to fees, this constitutes a key competitive advantage.

OxPink further elaborated on the ecosystem's "pressure resistance" and "internal circulation" capabilities, stating that the core of truly resilient infrastructure lies in its ability to maintain the internal functional circulation of the system even in an environment lacking external sentiment and traffic. He emphasized that what is tested during market downturns is not grand narratives, but whether the ecosystem truly addresses the real needs of users.

Miya used the TRON ecosystem as an example to specifically explain this mechanism: Through highly competitive low fees, the TRON ecosystem continuously attracts and retains a large flow of stablecoins. This flow not only forms the foundation for network usage but also naturally converts into DeFi activities, further consolidating trust and creating a brand effect, thereby building a self-reinforcing closed loop that continuously transforms "real usage" into "network value." The operation of this endogenous engine does not rely on short-term price fluctuations in the token market but is rooted in sustainable, genuine on-chain behavior and user demand.

In summary, the insights of the three guests progressively build a complete picture of an ecosystem that can traverse cycles: it begins with systematic design (healthy operation, low cost, high autonomy), is honed by endogenous pressure resistance and circulation capabilities, and is ultimately validated by the practice of transforming real usage into lasting value. When these elements work together, the ecosystem can construct lasting resilience that transcends short-term prosperity amidst market fluctuations.

Counter-Cyclical Construction and Value Discovery: Long-Termism Practices in the Bear Market from the TRON Ecosystem Perspective

Based on the aforementioned theoretical framework for traversing cycles, the TRON ecosystem provides a key practical sample. Even when the overall market is in decline, the TRON ecosystem continues to advance the construction of AI, DeFi, and other infrastructures. These actions themselves provide the most direct observation window for "how should long-termism be implemented," and lead the discussion from theoretical deduction to concrete practice.

• How has AI become the main theme in the bear market? The Counter-Cyclical Insights of TRON's AINFT

As the market enters a downward cycle, the AI sector has paradoxically become the focus. The guests discussed that this is not merely a sector rotation but a proactive selection of real value by the market after liquidity recedes. The bear market serves as a touchstone, filtering out short-term hotspots that rely on narratives and allowing underlying innovations with long-term value to emerge.

The TRON ecosystem's choice to officially launch the AINFT AI service platform at this time is a proactive response to this trend. It is not only a technical layout for the AI sector but also a practical response to a fundamental question: what kind of innovation dares to and can continue to build during the trough of the cycle?

AnDY, the head of HI Labs, stated: The return of AI to the main theme is not a new round of trend switching but an inevitable result of market selection. When the market tide recedes, all models that rely on sentiment and subsidies become unsustainable, while AI, as a tool that can enhance efficiency and reduce costs, highlights its practical value. It does not need market validation; its ability to traverse cycles will be naturally verified in a cooling market.

It is in this logic that the launch of the AINFT AI service platform holds symbolic significance. This platform is not a single model but an open service network that integrates multiple mainstream large language models, aiming to provide stable and accessible on-chain AI capabilities for developers and users. By lowering the barriers to use and costs, it allows AI tools to truly integrate into daily on-chain interactions, content generation, and data analysis scenarios, becoming "usable infrastructure" in the crypto world. This practice itself is the best interpretation of the long-termism that prioritizes "tool value over narrative speculation."

• How does DeFi traverse cycles? A Deep Analysis of the Structural Resilience of the TRON Ecosystem

This emphasis on "tool value" and "endogenous demand" not only defines AI's role in the bear market but also constitutes the underlying philosophy of the DeFi ecosystem. The TRON DeFi system, with its continuous operation and genuine user retention, serves as a vivid example of "anti-cycle." The guests unpacked this example, layer by layer, to dissect the key resilience logic within it.

Crypto.0824 pointed out that the key to the TRON DeFi system's ability to traverse cycles lies in "low friction and real scenario-driven." He observed that many DeFi projects in bull markets essentially rely on high APY designs to attract liquidity, resembling a game of capital; once market sentiment recedes or incentives diminish, the entire system becomes unsustainable. In stark contrast, the TRON DeFi ecosystem is built around real and high-frequency on-chain demands such as stablecoin exchanges, staking, and lending. It does not rely on "incentive binding" for users but retains them by becoming the most practical and economical natural choice.

Wang Feng Anc and OxPink further supplemented this key dimension of user experience. They believe that the reason TRON DeFi can traverse cycles lies in its provision of a "no-burden experience of opening to use, finishing to leave, but returning repeatedly." It does not deliberately package complex financial models but focuses on serving a vast array of genuine on-chain behaviors, thereby solidifying the most robust user base.

Tian Tian supported the effectiveness of this structure with specific data: Even during market fatigue, the TRON protocol maintains stable profitability, with total protocol revenue exceeding $216 million just in January of this year, and its leading DeFi protocol JustLend DAO continues to maintain a stable TVL of about $6 billion, with lending rates consistently in a healthy range.

At the same time, the TRON ecosystem has not only satisfied financial resilience but also gives back the fruits of development to the community through governance mechanisms. As of now, the governance token JST has completed two rounds of buyback and burn, with a total burn amount exceeding 1 billion tokens, accounting for 10.96% of the total supply. Additionally, SUN.io has also established a mechanism for buying back and burning tokens from protocol revenue. As of now, the total burn amount has exceeded 650 million SUN. These continuous value returns and deflationary practices not only strengthen the economic model of the tokens but also clearly demonstrate the ecosystem's determination to share long-term development value with the community.

From the protocol's continuous revenue capacity to the active value management of multiple tokens within the ecosystem, these facts collectively indicate that the TRON ecosystem, represented by TRON, which is rooted in real demand and possesses a closed-loop value return structure, not only demonstrates resilience against volatility in bear markets but also accumulates a solid value foundation at the underlying level, preparing ample elasticity for market recovery. Thus, it can be seen that the key to traversing cycles lies in constructing a structure like that practiced by the TRON ecosystem, which is rooted in real demand and possesses a value closed loop. This is not only a survival strategy in bear markets but also the fundamental logic for continuously creating value.

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