Reflections on public blockchains in 2026:

SmartContractAuditor · 2026-02-27T14:16:32+00:00

The development of public blockchains faces challenges, and traditional operational models are no longer sustainable. Project loyalty and the healthy development of the public chain ecosystem are being questioned, with founders more inclined to choose other chains rather than remain loyal to the new chain. Future public chains will become more centralized, focusing on controllability rather than relying on the natural growth of the ecosystem. To adapt to this change, it is necessary to reassess market models and human resource strategies.

SmartContractAuditor

2026-02-27 14:16:32

Abstract generation in progress

Thoughts on Public Blockchains in 2026:

The strategy of “controlling inflation + high-interest savings + DeFi trio + founder memes + our own Hyperliquid + crazy OTC sales to liquid funds” is no longer viable.
This isn’t just a problem for Monad and MegaETH; Rise, Fogo, and even N1 are facing the same issues. Old chains depend on the situation; Sei and Polygon still seem to be experimenting, while most have already given up.
Projects incubated on day one of public chains still lack loyalty, as only a few founders have options like BNB Chain, Solana, or Base. Most new chains focus on the public chain foundation’s funds. Once they secure backing and raise funds, and after gaining the first wave of community users, founders are motivated: 1) to build their own app chains to support valuation, 2) to switch to other chains and compete.
As a result, some founders no longer call themselves part of the xx ecosystem but refer to xx chain as their “GTM Partner.”
So, ecosystem projects are too weak to support, yet too strong and risk backstabbing their sponsors.
The original free-range, neutral public chain development model has basically ended. The valuation model based on MEV revenue needs revision (@LeePima). Now, public chains mainly serve as a means of control rather than possibility, focusing on fintech within a controllable economic system.
Future public chains will be centered power structures, with top-down dev shops and CVCs. The main role of the treasury will be M&A, with aggressive vertical integration rather than ecosystem cultivation. There will no longer be kingmakers like Solana (cc. @mablejiang).
In this sense, BNB Chain, Tempo, and Monad are heading in the same direction, just with different resource allocations and regional contexts.
The final question is: how should we model FDV to speculate accordingly? And since skills are entirely geared toward token-selling, siphoning, and economic models that rely on pump-and-dump tactics, the old ways may no longer fit the new era.

MON-2.88%

FOGO-10.9%

SEI-2.63%

View Original

This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.

1 Likes