百里 🦅

After a long wait of over half a year, Kaito has finally launched the Katalyst plan. At first glance, it seems ordinary, but in reality, it's a redefinition of value for creators. In the past, Kaito prioritized mindshare, where those with louder voices and higher discussion rates were more likely to receive rewards. But Katalyst takes it a step further: mindshare is still counted, and clicks, registrations, deposits, and platform behavior can also be used as settlement criteria. In simple terms, it used to be about "how much you posted," but now it's about "what you bring." This is actually more friendly for small and medium-sized creators. 5,000 precise fans bringing real registrations may not be inferior to 100,000 general fans. In the past, this part of the conversion was difficult to quantify and often went unrewarded, but now there's an opportunity to price based on actual results. Another significant change is that TGE projects need to provide a reward pool and a refundable deposit in advance, and the token distribution and unlocking rules will also be made public in advance. Before creators post content, they can at least confirm whether the project side has put up the money, rather than relying solely on verbal commitments. 80% of the reward pool goes to creators who bring results, and the remaining 20% is shared among KAITO stakers and YT-sKAITO holders, which also takes into account content producers and long-term ecosystem participants. Of course, Katalyst still has some issues to pay attention to, such as whether AI matrix accounts will dilute rewards through bulk content and fake conversions, and whether creators can truly verify attribution data in the hands of the platform. But the core direction should be correct. What Kaito is doing is not complicated: it's turning the cooperation between project parties and creators, which originally relied on human relationships, trust, and agency matchmaking, into a standardized protocol that verifies capital in advance and settles based on results. It may not sound so dreamy, but once it scales up, it could truly become a layer of infrastructure for the crypto creator economy. Teachers, are you ready to get to work?

A company that was founded only ten years ago became the number one company in terms of market value on the A-share market on the first day it went public. Changxin Technology achieved revenue of 50.8 billion yuan in the first quarter of 2026, a year-on-year increase of 719.13%. The overall net profit was 33.012 billion yuan, and the net profit attributable to the parent company was 24.762 billion yuan. According to a rough calculation of the overall net profit, it is equivalent to an average daily profit of about 367 million yuan in the first quarter. "Daily profit of nearly 400 million yuan" is not an exaggeration. But rather than discussing how much money you can earn from one lottery, I am more concerned about: Why did Changxin’s performance suddenly explode? Can this kind of profit be sustained? How far is the gap between its industrial value and stock price? One of the important sources of Changxin's early technology accumulation was the German storage company Qimonda, which went bankrupt in 2009. Through relevant cooperation, Changxin has obtained more than 10 million DRAM technical documents and approximately 2.8TB of technical data, providing an important foundation for initial research and development. Some people therefore question whether this is truly independent research and development. The real difficulty is never to obtain a piece of technical information, but to understand the technology thoroughly, build a factory, improve yield, control costs, pass customer verification, and then continue to iterate the next generation of products. Buying the bricks from the ruins does not mean that the building will be built on its own. What is really worthy of attention about Changxin is that it has turned a batch of dormant technological assets into an industrial system capable of large-scale mass production, revenue generation and continuous research and development. This is also the biggest difference between it and many companies that only talk about the concept of "domestic substitution". Zhu Yiming and Hefei provide two assets that are easily underestimated. The first item is governance structure and talent binding. Zhu Yiming promised to gradually allocate the approximately 768 million shares he holds to the company's employees for incentives within ten calendar years after listing; at the same time, the shares he holds will not be transferred in the first ten years after listing, and will also be subject to strict reduction restrictions in the second ten years. The second asset is the industrial environment and patient capital provided by Hefei. Before the listing of Changxin, Hefei State-owned Assets System held a total of approximately 36.79% of the shares; after the issuance dilution, the shareholding ratio was approximately 33.1%. Calculated based on the market price on the first day of listing, the book value of its holdings has exceeded one trillion yuan. What Hefei provided to Changxin was not just money, but a set of soil that could sustain growth. For manufacturing, factories never exist in isolation. Supplier response speed, engineer density, talent flow, logistics costs and policy stability will gradually become part of an enterprise's competitiveness. Changxin deserves long-term attention, but that doesn’t mean it’s worth buying at any price. From an industrial perspective, the listing of Changxin Technology is undoubtedly a landmark event. It proves that Chinese companies have truly entered the global DRAM competition landscape, and also proves that long-term capital, engineer bonuses and industrial clusters can build a project with a low probability of success step by step. But from an investment perspective, it is still necessary to separate the industrial significance from the stock price. I think Changxin’s current investment value mainly comes from four directions: First, China is an important DRAM consumer market in the world, and there is still a lot of room for domestic substitution. Second, Changxin’s market share is only about 7.67%. If technology and production capacity continue to improve, there is still a lot of room for growth in theory. Third, AI servers, data centers and smart terminals are increasing the storage demand of a single device, and the long-term demand for DRAM is expected to rise. Fourth, the company has passed the most difficult stage of large-scale mass production, and the release of production capacity in the future may continue to bring about cost reduction and profit flexibility. But the risks are also very clear: DRAM prices may fall, and industry supply and demand may reverse; there are still external uncertainties in advanced equipment, materials, and supply chains; production expansion means continued and high capital expenditures; and the current market value has already factored in quite high growth expectations in advance. Finally, let me talk about my personal opinion: Changxin is a company with strategic value, industrial scarcity and long-term growth space, but it is not currently a simple question that can be answered by just looking at the price-to-earnings ratio. Investing in it is essentially betting on three things at the same time: the storage demand brought about by AI is not a short-term pulse; Changxin can continue to narrow the technology gap with global leaders; the company can maintain profitability and R&D investment in the next storage down cycle. As long as one of the conditions is not fulfilled, the current valuation may face repricing. Ten years ago, there were almost no Chinese companies on the global DRAM table. Today, Changxin has truly sat at the poker table. This is a victory for industry. But for investors, in the end, we still need to remember the old saying: a good company does not necessarily equal a good price, and long-termism also requires a reasonable buying cost.

I couldn't help but feel a mix of emotions when I saw the official announcement from BitMart about their decision to cease operations. It wasn't a sudden exit, but a deliberate and orderly shutdown. To me, BitMart was more than just an exchange; it was a reminder of the memorable experiences I've had in this industry. In 2020, when I was working on building a community, I had the opportunity to collaborate with MOMO and become one of the first ambassadors for Amber Capital Fund. We worked on several projects with BitMart, and our community members did make some profits. One project that still stands out in my mind is WOO, for which BitMart gave me a community allocation of 5,000 units. Four months later, it surged over 100 times in value. Unfortunately, I didn't hold on to it and ended up selling it for a few million. Back then, BitMart was doing exceptionally well in the market, and our community affectionately called it the 'little black' exchange. After completing its B-round financing in 2021, many people thought it would become a dark horse in the exchange space. Today, seeing the news about its shutdown is indeed a sad moment. Putting emotions aside, this event once again highlights that there's no such thing as a long-term safe zone in the crypto industry. An exchange's ability to navigate bull and bear markets doesn't depend on its founding date, financing amount, or even user base. What truly matters is the founding team's determination, strategic judgment, and ability to predict regulatory, liquidity, and long-term risks. Bull markets can mask many problems, and trading volumes can temporarily alleviate operational pressure. However, when the tide recedes, the hidden dangers that weren't addressed will eventually surface. From this perspective, BitMart's decision to exit voluntarily and in an orderly manner is at least more dignified than dragging it out until it's unable to fulfill its obligations and leaving the losses to its users. Of course, the true test for the platform is yet to come – how it handles asset processing and user exit. The end of a platform doesn't mean that everything it did in the past is negated. BitMart did seize its moment and provided opportunities for many projects, communities, and users. It's just that this industry is too cruel, and past glory doesn't guarantee a permanent seat at the table. There are no eternal star projects, and there are no forever-safe exchanges. For platforms, survival isn't about tenure; it's about the ability to prove themselves every day. For users, don't take the safety and trust of any platform for granted.

The day we've all been waiting for has finally arrived! After enduring InfoFi policy restrictions, Yaps' shutdown, and API cutoffs, KAITO has finally reached a formal agreement with X! This news undoubtedly brings hope and excitement to all KAITO holders, Yappers, and teachers from the cotton candy cloud. We still remember the days when KAITO was forced to shut down due to policy restrictions, and the community was on the verge of collective breakdown. However, today's news proves the KAITO team's perseverance and determination. Regaining X's data support means that a slew of new scenarios and gameplay mechanics are likely to be introduced soon, which will undoubtedly bring a better user experience and more possibilities. For KAITO holders, this is a reason to celebrate. They finally have something to look forward to, hoping to return to the golden age of mouth-watering experiences. For Yappers, this means they'll have more opportunities and space to showcase their creativity and talent. For teachers from the cotton candy cloud, this means they can get back to work, leading students to explore new knowledge and skills. We believe that KAITO's data agreement with X will bring more cooperation and innovation. We look forward to KAITO's future development and achievements, and we're confident it will continue to bring users better experiences and more surprises.

Recently, I saw the H1 2026 half-year review published by WLFI, and after organizing my thoughts, I felt that the biggest impression was: what USD1 has done in the past six months is no longer just expanding the scale of stablecoins, but slowly filling in the key links needed for a complete digital US dollar ecosystem. First, let's look at the data. The total supply of USD1 in the first half of the year has exceeded $5.3 billion, and it has been deployed on more than 8 public chains. Among them, the Solana ecosystem has grown significantly, with a half-year growth from $115 million to over $1 billion. What's worth noting is that USD1's route is different from many stablecoins. It doesn't rely on cross-chain bridges to package assets, but instead, it is natively deployed on different public chains. For example, it is issued on Tempo according to the TIP-20 standard, and MovaChain, Aptos, Monad, and other ecosystems are also gradually accessing it. The real competition among stablecoins is not about issuing more, but whether users are willing to use them in the long term. Stablecoins that simply lie in wallets have limited value. Only by entering trading, lending, and payment scenarios can liquidity truly come alive. In this regard, WLFI has been continuously promoting this year. WLFI Markets, which was launched this year, had a supply of over $310 million in just two weeks, and the overall market size is now around $734 million, with active borrowing reaching $262 million. USD1 is starting to become a liquidity tool in the ecosystem, rather than just staying in trading accounts. In terms of trading scenarios, USD1 is also constantly expanding. Binance has launched BTC/USD1 and ETH/USD1 perpetual contracts, and on Aster DEX, USD1 has even started to be used as a pricing asset for traditional assets such as gold, silver, and oil. Another notable event is UFC Freedom 250. The prize money was paid directly in USD1, and it was broadcast live on the White House lawn. For stablecoins, this means that it has truly entered the mainstream sports scene, rather than just appearing on exchanges and DeFi pages. It's still too early to say that USD1 has completely succeeded. Ultimately, stablecoins need to prove their long-term liquidity, compliance capabilities, and real usage needs. But from the operating pace of the past six months, it's clear what WLFI has done: on the one hand, expanding on-chain liquidity, on the other hand, expanding real-world applications, and at the same time, promoting institutional-end infrastructure construction. Currently, WLFI has submitted an application for a national trust bank license to the US OCC, BitGo has opened institutional-level USD1 minting services, and Apex Group is also exploring the application of USD1 in the field of tokenized funds. When I pay attention to stablecoin projects, I care about two points: first, whether they have real usage scenarios, rather than just issuing scales; second, whether they have the ability to connect on-chain finance and the real world. From the current development path, USD1 is gradually moving from a stablecoin product to a digital US dollar infrastructure. In the second half of the year, what's truly worth paying attention to is not just the supply quantity, but whether these application scenarios can continue to produce real usage. Let's keep paying attention and continue to build!

Recently, Hong Kong media broke the shocking news that Fan Ye had given birth to a daughter last year through surrogacy. The news that her daughter is now over a year old has left netizens in surprise. Fan Ye has always been known for being low-key, and not much is known about her private life. Lately, Fan Ye has been frequently spotted at Paris Fashion Week, and her overseas career is going well. If the news is true, it seems she has achieved a double harvest of career and love. It is said that she currently resides in Hong Kong long-term, and her boyfriend is a financial professional from the post-80s generation. The couple's romantic life has always been very low-key. Fan Ye has a strong sense of privacy, and even when encountered by netizens in private, she will deliberately avoid the camera. Hong Kong's Mid-Levels has always been the preferred residence for the wealthy and celebrities, so it's not surprising that she chooses to live there long-term. Fan Ye's lifestyle seems to prioritize quality over public exposure. Who can forget her famous line 'I am a member of the wealthy elite'? Compared to high-profile displays of affection, she seems to prefer to live a good life in private. If the Hong Kong media's scoop is true, she has indeed been quietly achieving great things in recent years. Fan Ye's low-key lifestyle seems to have won the recognition of netizens. The parties involved have not responded yet, so let's just enjoy the news rationally. Netizens are still discussing Fan Ye's secret life.

I recently stayed up late watching the World Cup with friends and realized that just watching the games wasn't enough. We all wanted to get in on the action, so we started checking out prediction markets, guessing scores, and monitoring odds. I opened up Polymarket to take a look, but after a while, I found it exhausting. With different matches and odds changing all the time, it was hard to keep track of everything. That's when I decided to try out DAPPOS's new Coding feature. I input the keywords: "Help me create a World Cup prediction market analysis tool to see where the smart money is going." And then, magic happened. Instead of generating a simple page, it broke down my request into a comprehensive product plan, including product goals, data sources, core indicators, anomaly judgment logic, and more. A few minutes later, a fully functional World Cup market analysis tool appeared: automatically scanning 32 World Cup-related prediction markets, tracking large net buys, and monitoring price deviations. It even identified abnormal markets and alerted me to why they were worth paying attention to. You can try it out here: cm-a04198e336f028aa-site-3087434ecd0a.bubbleupdappos.workers.dev/. Later, I dug deeper into the logic behind it and discovered that it wasn't just simple "AI coding." Bubble Engine had already developed a set of development SOPs for different scenarios. For example, with prediction markets, it knows what to focus on: fund flows, market depth, probability changes, and abnormal transactions. So when I input my request, it didn't start from scratch; it called upon a mature product logic. This is also what I think sets it apart from traditional AI coding tools. Tools like Cursor and Claude Code are essentially super programmers, but you still need to understand the business, product, and deployment. After the code is written, you still need to handle servers, domains, payments, and going live. xBubble, on the other hand, is more like a builder that understands business scenarios. It not only helps you write code but also solves the tedious steps involved in product development. The official Iran Pulse case study is a great example: "Create a website that tracks Polymarket and news related to Iran." The result was a comprehensive data dashboard that integrated probability changes, trading volume, liquidity, and event signals. This logic can be replicated for any hot event, whether it's the World Cup, elections, financial events, or even a sudden consumer trend. Because many opportunities today are event-driven, with a window period of only a few days or even hours. In the past, creating a small product required finding developers, designers, and server deployment, and by the time it went live, the heat may have already passed. But now, the distance between an idea and a running website is being rapidly compressed. This reminds me of a concept that was popular in the crypto space: the super individual. Web3 has long emphasized this point: one person, connected to global users through tools, can create value without relying on traditional organizations. However, in the past, super individuals were mostly focused on content creation and trading investments. The two biggest barriers to creating products have always existed: technical development and global payments. But AI coding and Web3 infrastructure are slowly lowering these barriers. In the future, the core of OPC (one-person company) competition may not be who can write code the fastest, but who understands user needs better and can validate ideas faster. From an idea to a product to a small business that can generate income, the distance is really just a few sentences. In the past, many ideas died because they couldn't be made. But now, the cost of making them is getting lower and lower. Who knows, maybe one of your sudden ideas will become the next big money-making project.

Here is the translation: I recently stayed up late with friends to watch the World Cup, and I realized that just watching the games wasn't enough. Everyone would check out the prediction markets, guessing scores, guessing which teams would advance, and looking at the changing odds. I also opened Polymarket to check the odds, but after staring at it for a while, I found it pretty exhausting. Different games, different odds, changes in odds, large amounts of money flowing in, and smart money moving around – it all required manual effort, which was time-consuming. So I decided to try out the Coding feature that DAPPOS recently launched. I entered the keywords: "Help me create a World Cup prediction odds tracking and analysis tool, and see what smart money is buying in the prediction market." Then, I witnessed a miracle. It didn't just generate a simple page for me; instead, it broke down my requirements into a complete product plan: including product goals, data sources, core indicators, abnormal judgment logic, and odds sorting rules. The subsequent process became a simple loop: propose requirements → see results → optimize requirements → continue iterating. After just a few minutes, a truly functional World Cup odds analysis tool emerged: automatically scanning 32 World Cup-related prediction markets, tracking large net buys, counting changes in independent wallet numbers, monitoring odds price deviations, automatically identifying abnormal markets and pinning them to the top, telling you why this market is worth paying attention to, and which conditions were triggered. Experience address: cm-a04198e336f028aa-site-3087434ecd0a.bubbleupdappos.workers.dev/ Later, I dug deeper into the logic behind it and discovered that this wasn't just "AI writing code." Bubble Engine had already developed a development SOP for different scenarios. For example, for prediction markets, it knew what to focus on: fund flows, market depth, probability changes, and abnormal transactions. So when I entered my one-sentence requirement, it didn't start from scratch; instead, it directly called upon a mature product logic. This is the biggest difference I think it has with traditional AI coding tools. Tools like Cursor and Claude Code are essentially giving you a super programmer. But you still need to understand the business, product, and deployment yourself. After the code is written, you still need to handle servers, domains, payments, and going live. xBubble is more like a builder that understands business scenarios. It not only helps you write code but also solves those tedious steps in the product landing process. The official showcase of the Iran Pulse case is more obvious: one-sentence summary – create a website that tracks Polymarket markets and breaking news related to Iran. What came out was a complete data dashboard: probability changes, trading volume, liquidity, and event signals all integrated. And this logic can be replicated to any hot event. The World Cup, elections, financial events, or even a suddenly popular consumer trend can all be tracked. Because many opportunities are now event-driven, the window period may only be a few days or even hours. In the past, if you wanted to create a small product, you needed to find a developer, designer, and server deployment, and by the time you went live, the heat might have already passed. But now, the distance between an idea and a running website is being rapidly compressed. This reminds me of a concept that was popular in the cryptocurrency circle: the super individual. Web3 has long emphasized this point – one person, through tools, can connect with global users, create value without relying on traditional organizations. But in the past, super individuals were mostly concentrated in content creation, trading, and investment. The two biggest barriers to creating products have always existed: technical development and global payments. But AI coding and Web3 infrastructure are slowly lowering these two barriers. In the future, the core of OPC (one-person company) competition may not be who writes code the fastest, but who understands user needs better and who can verify ideas faster. From an inspiration to a product, to a small business that can generate income, the distance between them may only be a few sentences. Many ideas used to die in the "can't be done" stage. But now, the cost of making them happen is getting lower and lower.

Thanks to WebX for the sincere invitation, I'm super excited to meet everyone at the upcoming WebX2026 Activity Week! I've heard that this Tour event is going to be epic, and I've been looking forward to it for a while now. 😊 Apparently, there are already 54 side events planned, so there's definitely something for everyone. I highly recommend that my friends in Japan don't miss out - there's less than a week left, so hurry up and sign up! I'm sure there will be plenty of surprises at the event! I'm also keeping my fingers crossed that my Japanese visa will be approved, I really want to experience the heat of Tokyo 😻. Who knows what kind of experiences this event will bring? If you want to join the WebX2026 Activity Week, hurry up and sign up! And don't forget to prepare your business travel documents 👉 x.gd/Mp8xy

How's everyone's winning streak lately? Tomorrow morning at 8/1, the last two matches of the quarterfinals are about to kick off, and we're bringing you a pre-match prediction analysis! We'll be focusing on the Argentina vs Egypt and Switzerland vs Colombia matches. First, let's take a look at Argentina vs Egypt. Argentina is the defending champion, and they've had a strong performance in the group stage. Although they narrowly advanced with a 3-2 win over Cape Verde in extra time, their overall state and depth are overwhelming. Messi (almost 39 years old) has recovered, and the team's attacking firepower and defensive stability are solid, with a winning probability of over 80%. However, fatigue is the only concern, but their deep lineup can rotate. Egypt made history by advancing (beating Australia in a penalty shootout), relying on Salah and a tight defense. However, their defense has injuries (Abdelmonem, El Fotouh), and they've had a big energy expenditure after the penalty shootout. Salah's injury is questionable (he previously asked to be substituted, but he'll likely play), and the team heavily relies on him for breakthroughs and set pieces. Pre-match highlights: The 'final showdown' between Messi and Salah is full of emotions. Argentina will control the ball and pull Egypt's defense, while Egypt will play dense defense and counterattack. The probability of an upset is low (Egypt's win ~10-15%), but if it goes into extra time or a penalty shootout, there will be variables. The most likely score is 2-0 or 2-1, and Argentina has a high probability of solving the battle within 90 minutes. Next, let's look at Switzerland vs Colombia. Colombia has a stable defense (recently keeping multiple clean sheets), a well-organized midfield, and a high efficiency in the frontcourt. They advanced from the group stage with a 1-0 win over Ghana. Switzerland has strong discipline and organization, and they're undefeated in the group stage, beating Algeria 2-0. However, their offense relies on counterattacks and set pieces, which might struggle against Colombia's intensity. Pre-match highlights: Both teams are good at low-scoring games and defense, and it's expected to be a close match, possibly going into extra time or a penalty shootout. Colombia has a slight advantage (odds/model ~43-55% winning probability), but Switzerland's undefeated probability is not low (~27-35% win or draw). The most likely score is 1-1 or 0-1 (Colombia wins). Overall prediction: Argentina 2-0 Egypt (advancing 88%+) — depth, state, and coaching adjustments are superior, but beware of Egypt's counterattack, which has a low probability. Colombia 1-0 or 2-1 Switzerland (advancing 60%) — defense and efficiency are slightly better, but Switzerland is tough and has slightly less firepower. It's going to be a great night of football! Let's wish everyone a big win in advance. The Messi-Salah showdown is worth looking forward to, and if Colombia advances to the quarterfinals, they'll be a dark horse in this World Cup. Who do you think will pull off an upset? Let's discuss in the comments!

In the first half of 2026, the global asset market saw an unexpected shift. The asset with the most significant growth was not US stocks or gold, but East Asian tech assets. The Korean composite index rose by 101.14%, the ChiNext 50 by 64.25%, the Taiwan Weighted Index by 59.25%, the Nikkei 225 by 39.18%, and the ChiNext Index by 35.58%. The top performers in the global asset rankings were almost entirely dominated by East Asia's tech industry chain. Korea's memory chips, Taiwan's semiconductor manufacturing, Japan's equipment, materials, and precision manufacturing, as well as mainland China's computing power, semiconductors, robotics, new energy, and hard tech manufacturing, all played a crucial role in this surge. In comparison, the US stock market's performance was relatively lackluster. The Nasdaq rose by 11.09%, the S&P 500 by 8.69%, and the Dow Jones by 8.57%. In the past, global asset allocation could not avoid three things: US stocks, the US dollar, and gold. However, in the first half of this year, the answer was completely different: whoever was closest to the AI industry chain rose the most. Gold fell by 6.86%, and silver by 15.81%, which was not unexpected. Bitcoin also failed to hold up, falling by over 30% since the start of the year. Clearly, risk preferences have changed in the first half of the year - investors are no longer buying safe-havens, but instead betting on tech. AI is re-layering global assets, with the first layer being AI infrastructure, the second layer being hard tech manufacturing, and the third layer being those old stories that are still stuck in traffic, platforms, and consumption recovery. Old economy stocks may have a rebound, and high-dividend stocks may be attractive, but they answer the question of whether old assets that have fallen can rise again. In contrast, AI and hard tech answer a different question: where will new profit spaces emerge in the future? These two questions are not on the same level: repairable trends look at valuations, while industrial trends look at the era. The most typical differentiation is between A-share tech and Hong Kong-listed tech. The ChiNext 50 rose by 64.25% in the first half, while the ChiNext Index rose by 35.58%, but the Hang Seng Tech Index fell by 18.72%. The market is no longer buying the word 'tech' but is instead screening the industrial value behind it: whoever stands on the hard chain of chips, computing power, and manufacturing is being revalued, while those who are still stuck in old stories are being abandoned. In essence, global capital is re-voting: from old assets to new industries, from safe-haven narratives to growth narratives, and from finance to technology. The recent controversy surrounding Li Be's investment in Xia Xia is also a reflection of this division: her preferred directions of energy, real estate, consumption, and building materials, which are old cyclical directions, have collided with the strong rise of AI and hard tech. The excitement around old economy stocks indicates that the market is still nostalgic for the old cycle, but the rise and fall of global assets have already pointed to a new cycle. According to data released by the China Securities Association, about 70% of retail investors lost money in the first half, with an average loss of around 21,000 yuan.

I've seen many Chinese influencers posting about Grvt's upcoming TGE, with a lot of negative comments. I used to trade on this platform last year, with a transaction volume of several million. But when I checked again, my balance was zeroed out. I have to say, my trust in this platform has taken a big hit. Apparently, overseas KOLs are locked up for 12 months + 36 months of linear release... This operation mode is really unbelievable. Not to mention that ambassador fees are not paid, and no tokens are given. Luckily, I refused to cooperate with them as an ambassador last November. At the time, I felt like they were just trying to take advantage of me. The dog庄 in the bear market is really good at playing games, treating ambassadors like black slaves without any vision. Although the token unlock is strict and the selling pressure is small, the probability of TGE and pulling up the market is increased. But I still advise everyone to be cautious when getting on board. Don't be blinded by short-term gains, and think carefully about the long-term implications of this operation mode. I remember when this platform was extremely hot at the beginning of last year. Many people were discussing Grvt's future, but now it seems like everything was just a bubble. So, everyone must be careful and not be fooled by false promises.

Grayscale's recent report ranked on-chain applications by protocol revenue, with WLFI ranking eighth, generating approximately $105 million in revenue over the past 12 months. While this figure is not explosive, it is a notable achievement considering the prolonged downturn in the market this year. More importantly, it reflects a shift in how on-chain projects are being redefined, with a focus on 'revenue' rather than 'narrative'. One of the main differences between on-chain protocols and traditional finance is their cost structure, with significantly lower personnel and organizational burdens. Once a revenue model is established, the marginal profit space can be more direct than many traditional businesses. However, the market's pricing of these projects has not yet fully caught up with this change, with many still stuck in conservative valuation ranges, which may indicate a gap in expectations. Another often-overlooked variable is the regulatory environment. If the CLARITY Act is gradually implemented, the boundaries of on-chain assets will become clearer, and the entry path for institutional funds will become smoother. At that stage, protocols with 'stable revenue + actual use cases' may more easily enter mainstream configuration logic. Looking at the product layer, the trading market built by WLFI and Dolomite, which has now been integrated with Zebec's super app, has changed not only by adding a new entrance but also by becoming a more 'app-like' toolset for ordinary users. For example, lending pools, liquidity management, and a 5.2% annualized return on USD1 deposits (with risk control structure), the overall experience is closer to completing financial management within an app rather than traditional DeFi's cross-protocol operations. Putting all this information together reveals a clear trend: on one hand, protocols are starting to generate sustainable revenue, and on the other hand, the usage path is becoming increasingly simplified. One solves the 'is there a solid foundation' problem, and the other solves the 'is anyone really using it' problem. My focus when looking at projects has also shifted to two points: whether there is real revenue support and whether the product is already good enough and has a low enough threshold. If both points are met, in the current market, it is indeed more worthy of attention than projects driven solely by narrative.

The concept of OPC (One Person Company) has been discussed for years, but it seemed like a distant dream for ordinary people. With the help of AI and automation tools, one person can now accomplish what a small team could do in the past. However, the real challenge lies not in having ideas, but in turning them into reality. In the past, even with AI-assisted coding, many underlying processes couldn't be avoided, such as setting up a local environment, server, domain, API, deployment, payment interface, and backend logic. For tech-savvy individuals, these might be just routine processes, but for ordinary people, each step is a barrier. That's why I had mixed feelings about the concept of OPC: I could see the trend and the benefits, but as a non-technical person, I felt it was out of reach. That was until I tried dappOS's newly launched Coding feature. It's not just about generating a few lines of code; it's about packaging the entire process from idea to product. You only need to describe your requirements in plain language, and it will take care of the rest, including page creation, logic, deployment, and payment. I tested it with a World Cup theme, and the results were impressive. In about 10 minutes, dappOS Coding created a fully functional e-commerce website for overseas users. The website is available here: ugw.dappos.com/site-6108d158… This example is not the focus; the point is that it made me realize OPC is not just a slogan. When tools compress technical, deployment, payment, and automation processes into a manageable range for one person, ordinary people can finally participate. In the past, starting a cross-border business was challenging. You might understand product selection, but not website building; you might know traffic, but not payment; you might know hotspots, but not how to quickly create product pages. Many ideas weren't eliminated by the market, but by the execution barrier. dappOS's Coding tool changes this. It compresses the process that previously required technical, product, and operational personnel into a single person's SOP driven by natural language. This is where OPC economics gets interesting. It's not about everyone becoming a programmer or starting a big company. It's about a non-technical person using AI and automation tools to turn an idea into a real business, go online, collect payments, and verify the market. When others are using AI to generate articles and PPTs, I'm more concerned with whether this tool can help ordinary people complete a real business cycle. For most people, the real value is not 'AI helped me write X lines of code,' but 'AI helped me open a new revenue stream.' From this perspective, dappOS Coding is not just a development tool, but a signal that the era of one-person companies is truly beginning to lower barriers.