What's remarkable about Cardano is that builders keep stacking code through the bear market, with no reward for it. Third among all L1s in code commits over the past 30 days, and that number comes from a stretch where the market's attention was completely gone. Plenty of foundations in this space pour enormous money into building up developers and communities. But the moment the rewards stop, everyone who gathered scatters fast. Getting people to show up, stay active, speak up, and actually ship products is genuinely hard. Anyone can copy the code and run with it. Nobody can copy the people who show up for an ecosystem. There's something at the center of this ecosystem and these people that I can't quite put into words.
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