“Startups were able to raise uncharacteristically sized rounds for their stage, commonly acquiring multiple years of runway pre-product, while over the course of the last six months, investors pivoted to underwriting fewer deals targeting higher conviction, more concentrated bets,” George told CoinDesk in a note. “During this period of time, investors began to re-evaluate their focus on what constitutes product market fit, realizing that large token incentive programs rewarding user participation creates distorted traction metrics and overlooks user stickiness.”
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Decentralized Finance Lender Aave Deploys V3 on Ethereum Blockchain
High Efficiency Mode, also called eMode, allows users to capitalize on the highest borrowing power out of their collateral for correlated assets. Users can...