Personal Reflections on the Sonic Meetup I don't usually voice about controversial things, but I've put together some personal thoughts regarding the recent Sonic meetup incident. 1. Like it or not, the practice of providing numerous rewards and giveaways to the Korean community has become recognized as an effective marketing strategy. While I also don't believe this meetup style is sustainable in the long term, but at this moment investing significant costs in meetups for the Korean community paradoxically yields the highest efficiency in the Korean market. When there's a proven playbook that works well in Korea, is there really a reason to avoid it? If the most effective marketing method is available, should we really shun it just to appear 'legit'? if so, every project would have to develop its product for 10 years before even thinking about token issuance. 2. I think Listing on Korean Exchanges is a Natural Project Goal and Validation. Is it truly wrong for projects to seek listings on Korean exchanges? Being listed on a Korean exchange is not only crucial for securing liquidity but also serves as an indicator of a project's credibility and scale. While there's sometimes a narrative that projects attempt listings merely to 'dump' their tokens on Korea, I believe this is a natural business decision from a project's perspective. (I'm not thrilled about those situations either, but I don't think it's right to say "don't even try to get listed just because I don't like it.") Of course, there are instances where projects' actions might be disappointing, but we cannot fault every project for pursuing such listings. 3. I disagree with the perspective that some are trying to 'enlighten' Koreans. Some people just think korean is just 'exit liquidity'. Why do we always label them solely as exit liquidity? I think each korean has their own strong point. i think both those giving out merchandise and those receiving it seemed genuinely happy in that video. Why do we always conclude that 'projects view Korea as exit liquidity' just by looking at that video? From my perspective, it simply looks like they're distributing T-shirts to participants in the back who can't reach, and everyone seems to be having a good time. This isn't akin to carelessly throwing money in a club, nor do I believe there's an intention to belittle Koreans. And we can see lots of positive tweet reactions from meetup attendees, with verifying receipt of items, actively participating in yaping and expressing enjoyment. I'm also three years into this industry myself, I have plenty of shirts and am not as desperate for raffles anymore. However, criticizing others from and saying 'those people don't realize they're being used as exit liquidity,' can come across as a sense of superiority. It's worth reflecting on whether one has forgotten their own grind when they were just starting out. 4. A Rational Understanding of Accident Response is Needed. While it would have been best for no accident to occur, is it wrong to call firefighters and police to handle a situation once an accident happens? Entrance was being controlled, and a person who had already entered within the capacity limit suddenly fell due to back pain, knocking over a pillar which then fell on someone else. I understand the police then arrived to manage the situation. It's unhelpful for a reasonable response to an unforeseen accident, like calling the police, to be distorted or exaggerated. (Separately, I wish both individuals a swift recovery 🙏) 5. Categorizing Korean Market Efforts as 'Disregard' is Inappropriate. I don't understand why marketing activities specifically for Korea are so easily labeled as 'disregarding' the Korean market. Similarly, I question whether a project that has already completed its listing in Korea is obligated to continue spending like they spent on peak beyond that point. While it's true that many projects cut off support abruptly after listing, (I sincerely hope Sonic, and indeed many other projects, do not follow this path.) A listing on a Korean exchange, which can drive up prices, also benefits existing global holders. I hope that the Korean market is not always confined to a 'victim' narrative. Conclusion Personally, I hope this meetup controversy serves as a catalyst for these excessive 'chicken game' style meetups to wind down. However, given how much attention this marketing approach generates, I anticipate it will likely continue at least until KBW. I plan to publish a more detailed article summarizing my thoughts on this matter soon.