The hottest topic today is a certain public chain. From being a 'king-level project,' it has step by step turned into 'king's demise.' A lot of people attribute the reasons to the market, tokens, VCs, unlock schedules, operations... But lately, I’ve been feeling that the real issue isn’t that complicated. Whether a public chain can ultimately succeed doesn’t depend on how high its TPS is or how luxurious its funding is, but on whether it can support real applications. 'Does this public chain have truly irreplaceable applications?' I’m talking about real apps like Hyperliquid and Polymarket. For the vast majority of applications, they can be deployed on any mature public chain, and once they mature, they’ll eventually move toward their own chain! What’s truly scarce in the crypto world has never been public chains, but applications that can continuously create value, attract users, and accumulate capital. And for all on-chain ecosystems, they ultimately can’t bypass one foundational support: ｜Decentralized Finance (DeFi). This thought came to me today after seeing Monkey哥 @monkeyjiang, as a new round of the DeFi copycat season seems to be approaching. ———————————— Institutions like World Liberty Financial, Auros Ventures, Amber Group, Animoca Ventures, and OKX Ventures have all invested in Monad ecosystem’s TownSquare during this bear market. The new story for DeFi might just be multi-chain yield layers, letting the story unfold across multiple popular chains! It’s been a long time since the Sonar platform launched a public sale, and it’s also been a while since the DeFi sector had a good story. Looking forward to seeing how Town performs. Town’s public sale is currently ongoing, KYC required