I run Zuidaima (“Most Code”), a Chinese source-code sharing site that launched in 2012. At its peak it felt like a small economy: upload code, earn points, spend points to download, cash out points. About 537k registered users, nearly 10k shared projects, and millions of behavioral events later, search traffic dried up—and so did uploads.
Recently I finally sat down with the production data (registrations, views, downloads, completed payments through mid‑2026) to answer a question I’d been avoiding:
Do people still want downloadable student/side-project code—or did AI make that whole category irrelevant?
Short answer: demand didn’t vanish. It got thinner, more seasonal, and more about “can I ship/demo this?” than “can I download a zip?”
Annual new registrations (selected years):
| Year | New users | vs 2018 peak |
|---|---|---|
| 2018 | 87,578 | 100% |
| 2020 | 48,114 | 55% |
| 2022 | 30,566 | 35% |
| 2024 | 7,776 | 9% |
| 2025 | 2,124 | 2.4% |
Completed real-money top-ups (unique users who finished WeChat Pay, not just opened a QR code): Same story for views and downloads. This isn’t a cliff; it’s a long decline. Seasonality is still real—June 2024 spiked vs Aug/Sep, classic graduation / coursework season in China.
If you operate a niche learning marketplace, this pattern may look familiar: SEO-fed UGC economies shrink when the search pipe shrinks.
| Step | Users | % of signups |
|---|---|---|
| Viewed a project | 117,030 | 78.5% |
| Downloaded code | 54,837 | 36.8% |
| Paid download (spent points on priced projects) | 52,640 | 35.3% |
| Completed cash top-up | ||
| 11,088 | ||
| 7.4% | ||
| Uploaded a shared project | 619 authors | 0.4% |
How I read this:
status=0
). Counting every payment intent as revenue would inflate payers by ~3–4×.Later cohorts are colder:
Top paid downloads are still flooded with:
Price band: mostly 1–5 points. High volume, low willingness-to-pay for code itself. This layer is exactly what AI coding tools commoditize first.
What looks closer to “someone will top up for this”:
Typical prices: 9–15 points, sometimes more.
Keywords that keep showing up: admin, management, student, mall, Spring Boot, Vue.
Users aren’t shopping for the frontier. They’re shopping for something they can present.
One-line product thesis from the data:
Use cheap templates for acquisition; make money on runnable, documentable full systems.
If you “modernize,” amplify Track B—don’t invent another Track A.
New shared projects / distinct authors:
| Year | Projects | Authors |
|---|---|---|
| 2017 | 1,113 | 655 |
| 2020 | 669 | 317 |
| 2023 | 171 | 91 |
| 2025 | 15 | 14 |
Among post‑2020 signups, only ~619 people ever became authors.
Classic death spiral:
less traffic → fewer downloads/top-ups → creators stop earning → uploads stop → catalog ages → SEO and conversion get worse.
Ironically, paid charts still feature years-old HTML/JSP/early Spring Boot repos. The inventory still prints some cash. The factory floor is empty.
Among 2024+ new-user views, a troubleshooting blog post about importing/running downloaded Java projects ranks near the top—above many source packages.
That single ranking told me more than a dozen brainstorms:
The old loop was beautiful in its simplicity:
share → earn points → spend points → withdraw.
It worked when search brought endless students and creators could see money move.
What’s broken now isn’t mainly the loop—it’s distribution, delivery (still “here’s a zip”), and creator incentives.
The data doesn’t say “shut it down.” It says:
Evolve from a code download site into a coursework-grade app delivery surface—previewable, explainable, and help-to-run. Keep the points economy if it still clears. Put AI in the middle as infrastructure, not as a chatbot sticker on a dying homepage.
If you run an aging developer community or digital goods marketplace, ask yourself the same question our charts forced on us: Are your users buying files—or buying a result they can show on Friday?
I’d love comments from folks running Gumroad-style code packs, course marketplaces, or any UGC site that peaked on SEO. What does your view→pay funnel look like in 2025–2026?