DEACON

THE CRYPTO STARTUP LIFECYCLE (PMF) The crypto industry has redefined Product Market Fit And I think we've gotten it wrong. Some people measure it by TVL. Others measure it by token holders. Some even measure it by the success of a TGE. I don't. To me, none of those things prove you've found Product-Market Fit. They only prove people showed up. The real question is Why did they show up? Was it because your product solved a real problem? Or because there was an incentive attached to it? There's a huge difference. A product has found Product-Market Fit when users keep coming back even after the hype dies down. When they choose your product without being paid to use it. When retention becomes stronger than incentives. That's when you know you've built something the market actually wants. In crypto, it's easy to attract users. The real challenge is building something they can't afford to leave. That's not growth, that's Product-Market Fit. We've come to the end of The Crypto Startup Lifecycle. Next Series: Building Crypto Startups That Investors Actually Want to Back. I think that's where the conversation gets even more interesting. Stay tuned