After discussing the narrative, let's talk about the importance of the "庄" (the market maker).

This reasoning is also very simple, and it goes back to the characteristics of on-chain games.

To emphasize: it is a leveraged game.

The core is the AMM mechanism and the size of the pool.

We won't discuss specific technical details; let's get straight to the conclusion: the leverage ratio is between 10 to 100 times.

Moreover, the frustrating part is that currently, it can only go long and cannot go short.

Therefore, the market maker becomes very important.

Many times, a single point of chip dumping can trigger a chain reaction that can cause a coin to go to zero because the pool is too small.

Similarly, the funds for pumping are also much smaller than many people imagine.

So, without the actions of a market maker, do you think this game can continue?

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