Xin Yan, Co-Founder of Sign: SIGN Doesn't Want to Become the Next VC Coin
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Xin Yan, Co-Founder of Sign: SIGN Doesn't Want to Become the Next VC Coin
The Sign App is scheduled to launch in mid-May, with the SIGN TGE taking place prior to this.
Navigating Web3 tides with focused insightsGuest: Xin Yan, Co-founder & CEO of Sign
Interview: Nianqing, ChainCatcher
On April 1st—April Fools’ Day—Sign and its community played a joke about a “Sign TGE info link.” But it wasn’t entirely a joke, because "Dai Lai" (a pun on “coming”) was real: Sign’s token SIGN is indeed launching soon.
Xin Yan later posted that for Sign, the TGE is just the beginning. The community shouldn’t overhype the TGE; what comes next is far more important—the launch of the Sign App, which will become the primary gateway for users to earn rewards through contributions.
Last year, the on-chain agreement signing platform EthSign rebranded entirely as Sign, restructured its product logic, and unified products like EthSign, TokenTable, and SignPass under the Sign Protocol. At the same time, Sign began building its own community—the “Orange Dynasty”—encouraging people to contribute to the Sign ecosystem in ways they excel at. Xin Yan also became more active on social media, seemingly finding his role within the community: Chief Reply Guy @Sign.
Clearly, SIGN does not want to become another VC coin.
Three years ago, EthSign stood out due to investments from numerous well-known VCs and became the only project ever jointly backed in a single round by all three divisions of Sequoia. But the VC-driven narrative is fading. A crypto-native “Renaissance” is emerging from within the community itself.
Sometime in 2023, Xin Yan suddenly realized that VC coins actually lack genuine communities. In a recent interview with ChainCatcher, he noted that to establish their own foundation, they must break free from the path dependency of relying on others. With this mindset, the team decided to drop the “Eth” from EthSign and start building their own identity. This shift opened up greater possibilities for Sign’s products—to provide verification services for more countries and become infrastructure for a supranational state.
Meanwhile, to build a long-term community, Sign plans to implement a more sustainable token economic model, allowing users to continuously contribute to the network and receive incentives. The TGE will be completed before the Sign App launches. 40% of SIGN tokens will be allocated to pre-TGE contributors—including the team, community, and investors—while half of the remaining 60% (i.e., 30% of total supply) will be used for ongoing mining incentives on the Sign App. Current community incentive mechanisms such as Sign SBTs and NFT series will continue within the Sign App and remain linked to future contribution-based rewards.
So, what exactly will the Sign App do? What are the future plans? How can ordinary users participate in building the Sign community? Below is the full transcript:
Sign App: Infrastructure for a Supranational World
ChainCatcher: Sign has now launched several products. The core ones are the on-chain contract protocol (Sign Protocol), the on-chain identity authentication and visa system (SignPass), and the token cash flow management tool (TokenTable). Could you briefly introduce the current status of these products and your development plans for this year?
Xin Yan: Over the past four years, Sign's product line has essentially split into two main tracks. First is TokenTable, aiming to become the brokerage firm of the crypto world, focusing on token distribution and management. Second is the Sign-related business, centered around on-chain contract signing and identity verification, striving to make information globally verifiable.
First, TokenTable. It specializes in token distribution, unlocking, and airdrop management, using smart contracts to automate the process from project teams to investors and end-users. Additionally, based on unlocking smart contracts, we offer OTC trading services. The TokenTable model has been largely validated and will continue steady growth this year. Recently, we served two major clients: Kaito—one of our first cases using X (formerly Twitter) for airdrops—and Virtuals, an AI Agent Launchpad platform. Other projects on these platforms will also adopt TokenTable. Moreover, TokenTable will assist certain countries in conducting airdrops tied to UBI (Universal Basic Income), distributing welfare via token issuance.
Next, the Sign-related business. Starting with EthSign, Sign pioneered an on-chain signing and verification protocol. Our core goal is enabling any piece of information to be verified globally. In the real world, digital data such as IDs, diplomas, or tax records are difficult and prone to forgery. Our technology allows verification to work just like blockchain transactions—provable on-chain. Based on this, we launched the Sign Protocol, with multiple applications built atop it, including EthSign and SignPass. These allow sovereign nations' IDs to be issued and verified on-chain. Last year, we partnered with two sovereign states: Sierra Leone and the UAE.
This year, we’ll focus heavily on expanding Sign, particularly in public services. We plan to roll out a comprehensive blockchain-based public service solution for collaboration with governments. Specifically, we'll use RaaS (Rollup-as-a-Service) to build a sovereign blockchain for each government, solving gas fee issues and making it easier for average users to access. The Sign Protocol will run on this chain, offering KYC identity verification and stablecoin payments. Our key partners currently include Thailand and neighboring countries in Asia, the UAE in the Middle East, and Barbados in the Americas. We aim to cover 20 countries this way by year-end.
On the user side, we're developing a super app called Sign App—similar to Worldcoin or Alipay—that supports identity verification, blockchain transactions, and has social features. We’re integrating all our existing products into Sign App, turning it into a central hub for information and services. Driving user downloads of the app will become our top priority.
ChainCatcher: How is the development of the App progressing? When is it expected to launch?
Xin Yan: Targeting mid-May. We’ll conduct the TGE first to reward our community members who’ve supported us over the past four years. After the TGE, we’ll launch the Sign App and allocate 30% of the token supply to mining (mining) on the app, allowing users to earn SIGN tokens by contributing within the app. This is a key driver behind Sign App’s growth.
ChainCatcher: You mentioned planning to promote the RaaS system across 20 countries this year. However, ToG businesses like SignPass often face many uncertainties. Which part of this process is most challenging?
Xin Yan: Over the past year, we’ve spent significant time communicating with governments and gradually reached some interim consensus. As a result, implementation hasn’t been as hard as expected. The biggest challenge lies in identifying the right entry point and clearly articulating the value proposition of SignPass to governments.
This year is particularly timely for several reasons. First, Trump launched his TRUMP token, and many countries follow the U.S. lead on crypto policy. With the U.S. becoming visibly more open, compliance concerns have lessened. Second, the market this year is relatively stable—neither surging nor crashing—which makes external observers perceive the space as more credible.
Most importantly, we’ve invested substantial effort understanding government needs and clarifying why they should adopt blockchain instead of traditional Web2 systems. For smaller nations, Web2 infrastructure is extremely costly and puts them at the mercy of foreign providers. For example, if a small country uses payment systems like Visa or Mastercard, it may pay up to 2% per transaction—meaning a large portion of national economic circulation flows to American corporations, leaving little domestic retention and potentially exposing them to financial control. That’s why countries like El Salvador have started embracing Bitcoin—to escape these high-cost legacy systems.
Governments seek both political achievements and revenue. The system we offer fits perfectly. By partnering with us, they can launch innovative initiatives, attract new participants, generate PR, and create economic returns. If these new systems deliver real utility, they also bring tangible governance achievements.
ChainCatcher: Sign’s products seem consistently focused on how individuals survive in a supranational world/digital era. What is your personal—or the entire team’s—product philosophy?
Xin Yan: That’s a fundamental question. As a founder, I need to reflect: we've raised so much capital—what are we actually building? What do we believe in? What truly matters in crypto? Is it just about creating another fast, cheap public chain? That might already be outdated.
We view blockchain as a platform for distributing premium services and assets. Global resources are inherently imbalanced. People in places like the U.S. or Singapore can easily access USD accounts, but those in Africa, Vietnam, or Turkey often cannot reach high-quality financial assets. Even access to good public services is unevenly distributed. Given this, we see blockchain as a new standard.
This new standard is exemplified by the ID system we provided to the UAE. When someone applies for residency there, that document simultaneously becomes a KYC-verified stablecoin account—eliminating the need to wait for residency approval before opening a bank account. In the future, people may no longer need traditional bank accounts; a government-verified digital identity could suffice.
Blockchain itself is a newer, broader standard, and more nations and companies will align with it. Worldcoin is building the world’s largest on-chain ID system, while Binance launched BABT (Binance Account Bound Token) for its 200+ million KYC-verified users—all these identities live on EVM. If more corporate and governmental IDs go on-chain, EVM could become the common denominator for cross-border identity and credit verification.
In this supranational world, not only can currencies like Bitcoin and Ethereum operate beyond borders, but services can too. For instance, a company could one day offer supranational pensions or insurance globally. Such companies might even be more trustworthy than some small governments. Once people hold supranational assets like USDT, the feasibility of such services increases dramatically.
What we’re doing is building the infrastructure for this supranational world.
ChainCatcher: Recently, Sign collaborated with AGI House on the “first-ever eternal covenant signed between humans and AI on Sign.” What is Sign’s current stance on AI? Will you further integrate or partner with AI in the future?
Xin Yan: AI has been hot for over two years, and we’ve constantly reflected on the synergy between AI and crypto. Fundamentally, crypto was built for AI. Blockchain and smart contracts are digital systems—naturally suited for AI, not humans. Humans struggle to remember complex 20+ character addresses or hexadecimal strings. Traditional systems like bank accounts are designed for people, but blockchains and smart contracts feel tailor-made for AI.
Smart contracts can serve as trust bridges between AI and humans, or even between AI agents. So we’re actively working to make all Sign smart contracts directly usable by AI—for example, writing documentation optimized for AI readability and designing APIs that AI can easily invoke. Currently, AI can already perform actions on Sign such as signing, issuing tokens, and distributing airdrops. Our collaboration with Virtuals is a case in point.
ChainCatcher: With increasing regulatory clarity in the U.S., RWA (Real World Assets) is growing rapidly. How exactly does Sign serve RWA protocols?
Xin Yan: The essence of RWA is tokenizing real-world assets and placing them on a supranational platform for global trading. The key challenge is proving off-chain asset ownership to on-chain users. Our products—especially EthSign—are widely applicable here. We’ve already served two major clients: Plume and XDAO.
First, Plume focuses on securitizing real-world assets and issuing them as tokens on-chain. Throughout this process—whether during user purchase or asset issuance—legal agreements must be signed, all handled via EthSign. EthSign provides a platform ensuring consistency between on-chain and off-chain ownership and verifying the legal standing of off-chain assets.
Second, XDAO enables users to register DAO companies. Shareholder agreements and articles of incorporation involved in registration are signed via EthSign, ensuring legal documents are on-chain verifiable. This service is widely adopted in international DAO scenarios.
ChainCatcher: Sign offers various products spanning ToB, ToC, and ToG. How is your team structured and how do you allocate focus?
Xin Yan: Our team currently has 23 people. I’ve always wanted to keep it around 20, but we’re slightly over. Our core principle is excelling at one or two products rather than spreading ourselves thin. Once core products are solid, whether serving AI, B2B, B2C, or G2G, clients can use them directly without heavy customization.
In terms of workflow, we prioritize efficiency over pushing the team harder. The key is writing excellent product documentation and APIs, while delivering great service to major clients to build compelling case studies. This way, new users can onboard independently, reducing communication overhead.
Regarding resource allocation: of the 23 team members, about 4 focus on TokenTable development and operations, including OTC and airdrop-related work. The majority concentrate on Sign-related products, with current development efforts primarily directed toward the Sign App.
How to Build a Long-Term Community?
ChainCatcher: How did the decision to build the “Orange Dynasty” community come about?
Xin Yan: Actually, our earlier discussion touched on the VC narrative. Previously, we spent a lot of time trying to convince VCs and serious media of our product value. This approach fundamentally means pleasing gatekeepers—relying on VC endorsements to attract retail users and community attention. Many projects spend money doing exactly this. After all, in the past two years, securing funding from top-tier VCs could instantly generate massive community interest.
But in a moment in 2023, I suddenly realized: VC coins don’t really have communities. The VC narrative is fading. Projects dependent on VC backing can no longer establish genuine roots. Instead, communities mature first, then attract users. As a founder, I had to break free from relying on others—stop chasing influencers. The real path forward is building our own community and brand.
With that realization, we dropped the “Eth” from EthSign and decided to be ourselves. From there, we began building our community and shaping our culture. We realized that community appeal isn't solely about the product—it’s about feeling fun and having a sense of belonging. Take SpaceX: though B2B and G2G-focused, its vision and mission attract countless people who don’t even use its products.
Last year, we simplified our branding, choosing “orange” as the core visual element. Orange is vibrant yet inclusive. Users can change their avatar background to orange and seamlessly blend into the community without replacing their PFP. The “orange glasses” motif follows this idea—you can easily merge your PFP with community identity without changing who you are.
ChainCatcher: It feels like more and more projects are prioritizing community building.
Xin Yan: This isn’t really a new trend—it’s more like a “Crypto Renaissance.”
Since 2017, crypto has largely been hijacked by VCs, turning into a VC-driven industry. Founders rushed to showcase their pedigrees and institutional endorsements. But project success ultimately hinges on the community. With an active community and a circulating token, that token naturally finds diverse use cases within the ecosystem.
Take ETH: the Ethereum community includes 500,000 users running clients, collectively maintaining a chain. Many tools and ecosystem projects—including Etherscan—were built organically by the community, not directly driven by the Ethereum Foundation. With a strong community and token, users will invent their own applications. Of course, if ETH had better governed its treasury early on, things might look different today.
Moreover, token value isn’t purely sustained by product utility. No token with a market cap over $1 billion is solely supported by practicality.
ChainCatcher: Sign explicitly tells the community there’s no farm, yet still uses incentives like SBTs to unite the community. Can you give a systematic introduction?
Xin Yan: Building a community is like designing a game—you need an achievement or badge system to foster engagement. Sign’s SBTs are akin to guild roles in games like World of Warcraft, representing different community roles.
Currently, Sign’s SBTs fall into several categories, each reflecting a type of contribution:
Series Builder: The “Builders Guild,” for members who develop tools or products for the community. For example, one member created a web tool letting users add Sign’s orange glasses to their avatars. Others build creative websites and mini-games.
Support Warrior: The “Supporters Guild,” encouraging interaction among community members. We want the community to be more than one-way communication from team to users—it should be a network where members interact, like, share, and comment. This role rewards those who actively support and engage with others.
Content Creator: For members who create content—writing articles, producing videos, etc.—for the community.
Orange in the Veins: For those who actively participate in events and drive growth by inviting others into the Sign “Orange Dynasty” community.
If you make corresponding contributions, we issue the relevant SBT with your name inscribed—symbolizing your “role” in the community. For those who want to join but lack time to contribute, we offer NFTs. These suit users with financial capacity but limited engagement bandwidth. They can later convert into SBT-like incentives within the Sign App.
ChainCatcher: Is SBT issuance determined manually by admins, or is there a system behind it?
Xin Yan: We actually have a quantified backend system—necessary given our community size. But we won’t disclose the exact metrics, because once revealed, people will game the system. If the first ten thousand addresses are Sybils, the community collapses.
ChainCatcher: In other podcasts, you mentioned that many Sign users are outsiders, so you purchased BTC as an incentive for this group, while reserving SIGN tokens for insiders. Can you elaborate on this strategy?
Xin Yan: Yes, we bought 100 BTC as incentives for non-crypto natives. Many of our users are outside the space—they may not know or care about SIGN. But BTC is widely recognized, more appealing, and relatively stable in value. Of course, both BTC and SIGN come from our own funds. BTW, BTC is orange too.
ChainCatcher: How does Sign plan to build a long-term community? What comes after TGE?
Xin Yan: I think the key lies in economic model design—because at its core, it’s an economic problem. We need a system where people continuously earn tokens by contributing to the network, not just dump tokens onto retail investors.
Our tokenomics are simple: 40% goes to pre-TGE contributors—team, community, and investors. Half of the remaining 60% (i.e., 30% of total supply) fuels mining on the Sign App. We’ll design multiple contribution pathways so users keep earning SIGN rewards.
For most projects, user incentives end with airdrops or TGE. We aim for continuity—Sign’s NFTs and SBTs will persist in the Sign App and remain tied to future mining rewards.
ChainCatcher: Any predictions about the current crypto market? Which sectors are you bullish on?
Xin Yan: Predicting specific sectors is tricky—they often rise randomly. AI surged unexpectedly, then cooled fast. That kind of volatility is common.
I can share my view on current trends. Today’s crypto market is largely a zero-sum game—participants and capital are mostly stagnant, with little new inflow. The entire industry feels like “Squid Game.” A true bull market needs fresh capital and users. Last year’s bull run, for instance, was fueled by projects bringing in new traffic and liquidity.
Going forward, large VC-led projects may die in batches, triggering widespread shakeouts in the VC industry. There’s a term for this: “Tech Vaporware”—VCs producing pure “air.” They pitch incomprehensible concepts, achieve sky-high valuations, but deliver no real value or profit. Think of some Layer 1 projects valued at billions despite unclear use cases or revenue models. These will eventually be weeded out.
I’m more optimistic about the “Crypto Renaissance” trend. The future market will be more diverse, with community-driven projects taking center stage—not reliant on a few “crypto kings.” In the past, core circles seemed to dictate everything. Now, different communities have their own leaders. Over the past few years, chains like Aptos, StarkNet, and Movement were often pushed by overlapping groups—same funders, same dev talent flowing between chains, highly overlapping communities. But now, Ethereum has its own core, Solana has its own. Community ties are loosening, but internal cohesion is strengthening. Crypto narratives will become more pluralistic.
ChainCatcher: Sign seems very skilled at storytelling. Is that related to your team culture?
Xin Yan: We definitely emphasize communication skills. As I said earlier, community building matters more than just product development. And the heart of community building is conveying culture and values—through storytelling. You need stories to help users understand your vision and spirit. I actively encourage team members to speak up on Twitter—not just me, but everyone. The whole team shares thoughts and opinions frequently. We support personal branding, which benefits both individual growth and company development.
As for work culture: “high intensity, high passion.” We’re extremely competitive—fast-paced, intense, stressful. But this pressure isn’t forced; it stems from deep belief in our mission. We only welcome those passionate about Sign. If you believe in the goal, high workload doesn’t feel oppressive.
I now host or appear on at least one podcast every week—it’s a personal commitment. Through this, I refine my thinking and continuously hone my storytelling ability.
ChainCatcher: What does your ideal “New Order” look like?
Xin Yan: In recent years, the world has changed rapidly—global order is being重构 (restructured) at accelerating speed. Ukraine, once relatively stable, plunged into war, with nearly all young men aged 20–35 killed or injured. Post-war, the country may face massive debt, similar to China after colonial invasions—forced into unequal treaties, ceding land and wealth. This history reminds me: new orders form quickly. If you don’t actively shape them, you’ll be forced to accept someone else’s.
My ideal “New Order” is a world where international organizations provide stable services: everyone accesses financial services, identity verification, even visas through Sign. I hope one day SignPass becomes a universal global ID and visa—where one SignPass grants entry to any country.
To achieve this, active participation in the game is crucial. New orders emerge from multi-party博弈 (struggle/negotiation). If you don’t join, you’ll passively lose—become the one being “harvested.” That’s why I keep urging my team—and myself—to clarify the future we want, then invest relentlessly to realize it. Only then can we become part of the new order and play a meaningful role.
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