Remember the early days of crypto? The near, dreamlike ideal of a financial system of the people, by the people, for the people. Decentralization The principle behind the project wasn’t a buzzword, it was the driving force. Yet somewhere down the line, the compass got off kilter. In its place, we’ve traded something that looks a whole lot like the previous regime. It’s the same thing, just packaged up in shiny technology and big data buzzwords.

Once lauded as the future of democratized finance, the landscape has recently morphed into insider enrichment schemes and unsustainable tokenomics. I compare the experience to watching an exquisitely crafted home burn down. In our scenario, the foundation was never there to begin with—as in this case, greed was the source.

It's not too late to rebuild. We can reclaim the original vision. Their solution is to fix crypto here are five fixes to drag crypto back from the brink.

Regulation Can Be a Good Thing

Regulation — the R-word that has crypto purists clutching their pearls. But hear me out. Regulatory clarity, not strangulation, is essential. The wide open Wild West environment is the breeding ground for all of the bad behavior we’re most concerned about stopping. It’s equivalent to allowing children to play with firecrackers without parental supervision. Someone’s sure to get injured.

What is required here are clear, objective standards that inject transparency and accountability into the process of token launches and trading. Think of it as guardrails on a highway: they might limit your speed, but they keep you from driving off a cliff.

We need smart regulation. Too much regulation will kill the very innovation that crypto represents, making it a bureaucratic dystopia. The key is balance. What is needed is a healthy dose of regulatory oversight, and not a regulatory chokehold.

Fair Launches Are Not Optional Anymore

Recall that Bitcoin had no pre-mine, no private sale, no anything other than a level playing field start for all. It built trust from the ground up. Too many projects come out of the woodwork with enormous pre-mines set aside for founders and VIPs. As a result, the average investor is always left holding the bag. This is a slap in the face to the entire concept of decentralization.

Fair launches, where no one has an advantage and everyone starts on the same playing field, need to be the rule, not the exception. Imagine it as a fair playing field, with opportunities equally attainable based on talent and skill, not wealth and advantage.

Standardized fair launch protocols. Official public launches announcements with dates, tokenomics, and distribution mechanisms. Liquidity Bootstrapping Pools (LBPs). Retroactive airdrops. These mechanisms aren’t simply swanky options — they are the tables stakes required to develop trust and genuine community.

One major limitation is that fair launches often fail to raise the necessary funding. Significantly added complexity and burdensome barriers to entry for new competitive projects are possible.

Staking Is Not Just About APY

APY (Annual Percentage Yield) is the techno-fantasy siren song of the crypto world. The pursuit of high APY tends to encourage short-termism, leading to speculative bubbles. Lastly, we need to reward long-term commitment, not short-term flashy hype.

Think of it like this: are you looking for a quick fling or a lasting relationship? Crypto needs more of the latter.

Incentivized long-term staking is the answer. Tiered staking rewards that reward long-term holders. Governance rights resulting in governance structures that provide long-term, committed users a voice. These onramps incentivize simple users to become long-term stakeholders, and not market speculators.

Naturally, there would be a danger of this power becoming centralized among large token holders. If we put appropriate governance mechanisms in place to prevent this outcome, we can reduce this danger and make the reality that community stays in control.

Community Must Drive the Vehicle

Decentralized governance is not merely a pretty principle. It’s the cornerstone of a genuinely decentralized project. Token holders must be democratized and empowered to meaningfully participate in decision-making and hold project teams accountable.

It's like a democracy: everyone gets a vote, and the majority rules. But unlike crypto, we’re not usually talking about extremely high-stakes, highly complex technical and economic decisions.

To counter this trend, we must create a culture that encourages engaged and informed participants. Help users to understand the moral implications involved and arm them with the resources necessary to choose wisely.

Sure, we know that community-driven governance can be chaotic and cumbersome. It's far better than the alternative: a small group of insiders calling all the shots.

Education Is the Best Weapon

The crypto world is complex and confusing. It's full of scams, traps, and pitfalls. And let's be honest, many people are investing in things they don't fully understand.

This is where education comes in. Let’s start by arming users with the tools they need to make the right decision and not fall victim to these scams.

Consider it like sending a soldier into battle without protective equipment or weapons. The military would never do that, and we shouldn’t as well.

Put the risks and complexity of crypto investing in clear, accessible language. Help them distinguish credible sources from misinformation. Show them how they can identify scams and fend off fraud.

One of the biggest worries about this fix is the threat of information overload. That might make it even harder to distinguish fact from fiction.

Crypto's original promise is worth fighting for. Let’s push back against corruption, cronyist deals, and passing fads. So let’s head back to the foundational values of fairness, accessibility, and decentralization!

It won't be easy. Weeding out bad actors from this rapidly emerging market will demand a concerted effort by regulators, industry participants, and the community. Together, we can build a more sustainable and more equitable ecosystem. We can restore it to its fullest potential.

So, what are you waiting for? Join the conversation. Advocate for responsible innovation. Let's reclaim crypto's broken promise, together. We deserve better and it’s high time to create a financial system that empowers everyone, not just the privileged few.

So, what are you waiting for? Join the conversation. Advocate for responsible innovation. Let's reclaim crypto's broken promise, together. It's time to build a financial system that truly empowers everyone, not just a select few.