Crypto Project Survival Rates and Why @Bancor Is a True Outlier. Carnage is the norm. The vast majority of business-focused initiatives from 2016 to 2018 have all but disappeared. Most never made it past a short initial run. In fact, fewer than 0.2% of these projects are still active today with ongoing development, healthy token liquidity, and meaningful product revenue. Its the Forgotten Battlefield of business expeditions: That figure isn’t about meme coins or speculative tokens. It only includes projects that began with real teams, public technology roadmaps, and a goal of building products or infrastructure. To qualify as a survivor, a project needs: 1. Recent active code development (within the last 3–6 months) 2. Tradeable liquidity 3. Ongoing, measurable revenue from its technology or service Only a handful of projects still meet all of those standards out of tens of thousands launched during that period. Even looking at VC-backed crypto startups from 2020 on, the picture is similar: about 41% show no meaningful growth or development, with most that survive falling into a “zombie” category. Fewer than 1 in 4 achieve true product-market fit. Most projects, regardless of funding or initial hype, lose relevance, stagnate, or wind down. The common traits among those that survive: consistent technical progress, real user adoption, and steady revenues. With this context, @Bancor's ongoing operations and product revenue set it apart as one of the very few long-term survivors under these strict, business-focused criteria. The longevity is a signal that hard-earned wisdom is deeply integrated, very hard lessons have been learned, and most crucially survival instincts permeate through the project. Even more of an outlier is how many of the same engineers and founders of Bancor are still involved in the day to day operations. Many of the core team and key engineers who launched the original protocol in 2016-2017 are still actively building today. Not only has the project remained operational with real usage and revenue, but it has also maintained team and engineering consistency across nearly a decade. This is almost unmatched, even among projects that are still technically active. It was a trait that attracted to me to @Bancor during the 2022 carnage. I wrote about it at the time, but I sensed this was a unique group of people, and time has proven that out. Dr. Mark Richardson (@MBRichardson87) is a force, a true honey badger. In my view his expertise in organic and synthetic chemistry is uniquely suited for the space. You underestimate this at your peril. Same goes for the engineers that no AI can replicate; ones that have been with Bancor for many years, uniquely tuned to the intricacies of the products like an engineer who built the car. What happens to people who go through very difficult and trying times? They become hardened, stronger and wiser than those who are taken out. Then that wisdom is the cornerstone to new projects like @CarbonDeFixyz, the correct interpretation of on-chain liquidity and trading. Give me an order book. My best investments are always on the people involved, to some degree regardless of the product offering, be it blockchain technology or gene-editing therapies, its only as good as the people involved. Yet I'm struck by how rare of a case @Bancor is, to survive since 2016, change paths when called for, continue on with the same people, and in my view develop products that are truly meaningful. Through this lens it doesn't take much to see how rare of a case this is, not only in the blockchain space, but in the business world as well. What unteachable lessons have this group experienced and integrated? My guess is something significant. @Bancor continues on and is well on the path to thriving.