Summary:
- This article discusses the challenges faced by on-chain systems, which are decentralized applications built on blockchain technology.
- It explains how premature extraction, where users try to extract value from the system before it's fully developed, can lead to the failure of these on-chain systems.
- The article suggests ways to prevent premature extraction, such as using a gradual release mechanism and implementing governance structures to align incentives and protect the long-term viability of the system.