Bell Curve

The New Rules of Crypto Distribution | Roundup

25 snips
Feb 20, 2026
They debate market sentiment and whether enterprise demand or speculative froth drives crypto today. They react to Hyperliquid’s new policy center and funding for regulatory work. They revisit the fat protocol thesis and who captures value in modern stacks. They unpack distribution playbooks—airdrops, virality, referrals—and explore how AI and agents could reshape discovery and moats.
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ANECDOTE

Polymarket's Media-Led Expansion

  • Polymarket gained non-crypto users by surfacing novel stats that traditional media cited, turning news coverage into distribution.
  • Media narratives can pull mainstream audiences into crypto products when the story is clear and relevant.
ADVICE

Leverage Incentives And Referrals

  • Use referrals, cashback, and social features to make users naturally spread your product and reduce acquisition costs.
  • Align early stakeholders (whales, exchanges) to kickstart liquidity and social proof for growth.
INSIGHT

Infra Needs Market Pull Today

  • Infrastructure success has shifted from technology-push to needing market-pull and narrow use-case wedges.
  • General-purpose infra without a clear, immediate demand struggles to find builders and adoption today.
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