Dragonfly Partners published an article titled "Defending the Exponential Function": Calling for a Re-examination of the Long-term Value of Blockchain

Dragonfly partner Haseeb published a lengthy article on social media titled "Defending Exponential Functions," reflecting on the current pessimism in the crypto market. He pointed out that the market mentality has shifted from "financial nihilism" to "financial cynicism," with many believing that blockchain project valuations are too high and will face collapse.

Haseeb used Amazon as an example, noting that the company only began to turn a real profit 22 years after its founding, during which time critics constantly questioned its business model. He believes that the blockchain industry is in a similar phase and should not be evaluated using linear growth thinking and traditional financial metrics like price-to-earnings ratios.

The article emphasizes that blockchain technology will exhibit exponential growth, akin to the trajectory of early e-commerce development. While the growth may not be as smooth as that of e-commerce, its potential cannot be overlooked. Haseeb believes that blockchain will ultimately change the way finance and currency operate, just as the internet transformed other industries.

He calls on investors to become long-term believers, trusting that blockchain will bring about a profound transformation in society and finance, and states, "If you believe in exponential growth, everything is still very cheap from a long-term perspective."