So, do you believe your entire life because you see, or do you see because you believe? Yesterday increased by 2310 points @ RiverdotInc http://app.river.inc/?ref=MEJ50749 Ranked eighth in a single day Today it's not just a wash, I just saw that the project team is indeed adjusting their direction After watching the records of River Chinese Community AMA last night, to be honest, my mood has fluctuated, but overall, I feel a little more directional than before. The tone of this AMA is actually very clear: Admit the problem positively, provide a solution, and explain the timeline clearly. For me, there are a few key and advantageous points: one ️⃣ Suspending the conversion at least clarifies the 'why' Previously, most people's emotions were stuck at one point: Why stop just saying stop? Is the project going to run away? The AMA provides a detailed explanation of the process from 11/7 to 11/9 At first, we thought it was a normal market fluctuation, but the team continued to repurchase RIVER to stabilize the price It was not confirmed until the evening of November 9th that it was an 'organized collaborative behavior': First, open a large number of short positions in CEX, then convert them into RIVER using River Pts, and then hit the spot market, creating a collapse when liquidity is poor I chose the latter between "no pause=death spiral" and "pause=market volatility+emotional collapse" There is definitely room for improvement, but I believe there is at least one thing that is certain: The project party has activated the risk control and protection mechanism that was originally written in. What I would be more concerned about is whether there is a review? Is there an upgrade? This AMA at least provided a relatively systematic answer. two ️⃣ Three response plans are more 'practical' than I expected The handling of the River Pts incident can be roughly divided into three lines: ① Public Sale repurchase at original price For early Public Sale participants, repurchases were made at the original price, with clear pricing, snapshot time, and deadline, as well as progress updates (already completed 80%+). This section is more like 'responsible to the earliest supporters of the project'. ② Conversion 2.0 Upgrade This part is what I am more concerned about and also the technical highlight of this AMA: Daily conversion limit (Daily Cap) Single conversion limit (Per Conversion Limit) Dynamic conversion curve (the more people rotate, the lower the proportion; if no one rotates, it slowly rebounds) After conversion, enter Staked RIVER with governance and returns, rather than simply receiving coins and smashing the market Simply put, it means transforming the previous concentrated impact of stepping through the floor with one foot into a predictable and controllable release process. To be honest, the initial dynamic airdrop mechanism was very "DeFi sci-fi", but when faced with extreme markets, it was exposed that the design was not completely closed-loop. This 2.0 upgrade can be considered a step from experimental design to engineering design. ③ Subsidy Scheme for Secondary Market Buyers This part is still under evaluation, to be honest, it will be very troublesome to actually implement it because the trading behavior is too complex: buying, selling, pledging, transferring But AMA has at least made two points clear: • Can open forms to collect data • Will publicly discuss and update progress in the governance forum This kind of thing cannot satisfy everyone, but compared to complete silence, 'explaining clearly and still settling accounts' itself is an attitude. three ️⃣ One thing that surprised me was that it wasn't just about extinguishing the fire, but rather upgrading the underlying protocol accordingly In this AMA, I am quite concerned about one thing: The team did not focus all their energy on 'how to deal with the aftermath', but instead saw this incident as an opportunity to re strengthen the underlying logic of the agreement. A few key points are: After the launch of Conversion 2.0+RIVER staking, the transferred out is not a "naked RIVER", but a Staked RIVER with governance and revenue rights Design conversion behavior to be more like 'long-term participation' rather than 'short-term game' All mechanisms, simulations, and parameters will be put on the governance forum for everyone to see and disassemble together This is actually moving towards a more 'protocol based and governance based' direction, rather than just 'one-sided brainstorming by the project side'. four ️⃣ Beyond emotions, there are also products and fundamentals Many people only see: River Pts pause, price fluctuations, and emotional explosion. But AMA brought back some easily overlooked facts: SatUSD, Smart Vault, and Prime Vault are inherently secure Smart Vault's first installment of $10 million can be fully deposited in 12 hours, and there will also be real profits in the second installment Prime Vault has accumulated $250 million in just one month since its launch TVL remains at 600-700 million US dollars Next, there will be multi chain deployment, payment products (especially in Central and South American scenarios) B2B TradeFi、 Cooperation with listed companies and other directions in other words: The issue this time occurred in the context of "conversion mechanism design" and "market game", rather than the protocol itself breaking down. For me, this is very important. five ️⃣ My own summary If we only start from emotions, this incident will definitely be 'very painful', especially for those who took over in the secondary market and didn't have time to react. But after watching the AMA, my personal feeling is: The team is acknowledging design issues instead of blaming 'the market is too bad' Provide specific, executable, and schedule based solutions instead of just saying 'we will compensate' without further explanation Treat this risk event as a trigger for protocol level upgrade, rather than just doing short-term public relations This does not mean that everything is perfect, nor does it mean that everyone will be satisfied. But at least, I would prefer to continue observing the actual performance of Conversion 2.0 after its launch, rather than just crossing this project off my list. Many people say that a bear market depends on how the project team can "withstand pressure"; For me, this AMA is probably a more realistic stress test. In fact, looking at the ranking of S3, there are still many friends who continue to "talk" and see different newcomers occupying the leaderboard every day. I think everyone's enthusiasm is slowly recovering. Of course, seeing familiar faces on the leaderboard every day gives me a sense of belonging! We extend our highest respect to the top 10 builders who have been consistently building @Joensmoon @pipizhu_eth @ThanhPh68545130 @0xKingsKuan @Zyntrixt @zzzlloollzzz @SabTheTrader @jiucaicai250131 @bibisister0508 Transform your crypto journey with RiverPts! Stake, earn, and grow with @River4fun – your gateway to rewarding possibilities! CryptoRevolution http://app.river.inc/?ref=MEJ50749