Binance co-founder He Yi dropped some serious truth bombs at the Hong Kong Crypto Finance Forum, and honestly, it’s what the entire Web3 space needs to hear. Forget obsessing over which sector is the ‘next big thing’! She rightly points out the core question: are you actually solving a damn problem? Are people willing to pull out their wallets for what you’re building?
Too many Web3 projects are, let’s be real, garbage. They’re built on shaky business models, are impossibly complex for average users, and vanish faster than a rug pull. He Yi’s spot on – longevity comes from genuine utility and a sustainable, thought-out approach.
She also rightfully called out the pointless ‘Web2 vs Web3’ divide. Who cares about the labels? If a product delivers value and builds a thriving community – blockchain or not – it deserves respect. I’m completely with her on this.
He Yi distilled the traits of successful projects down to four key ingredients: “The right timing, advantageous positioning, strong team synergy, and sheer, unadulterated willpower.” And she wasn’t shy about sharing the realities of building Binance. “Nvidia, Tesla, even Binance… we’ve all been on the brink, but we clawed our way back because we refused to give up.”
Key Takeaways: The Foundation of Successful Projects
The core of any successful technology, Web3 or otherwise, is problem-solving. Identifying a genuine user need is paramount. A brilliant idea is useless without a market willing to pay for it.
A viable business model is crucial. Projects need sustainable revenue streams to survive, not just hype and speculation.
Usability matters. Complexity alienates users. A product must be accessible and intuitive to gain widespread adoption.
Timing, circumstances, teamwork, and an iron will are essential. Resilience in the face of adversity is a defining characteristic of successful ventures. The tech world is brutal, and only the tenacious survive.
