The "Everything Bubble" Legacy The 2021–2022 frenzy, fueled by DeFi, NFTs, and play-to-earn mania, was amplified by COVID-era quantitative easing and zero interest rates. Dubbed the "Everything Bubble," this era flooded markets with liquidity, pushing speculative capital into crypto. VCs, flush with cash, prioritized hype over fundamentals, betting heavily on inflated valuations. Token Vesting Mechanisms: A Double Bind Modeled after traditional equity vesting, token lockups aim to stabilize e...