Let's talk about the Binance wallet and Aspecta's newly launched TGE price discovery mechanism based on BuildKey.

Although Aspecta has already launched several community activities, the Binance wallet can clearly accelerate the adoption of the BuildKey mechanism, while also completing a key component needed for the Binance chain ecosystem. Specifically:

1) The BuildKey mechanism is essentially a dynamic pricing system based on a Bonding Curve.

In simple terms: users can deposit specified assets to obtain Keys, and as the purchase volume of Keys increases, the Bonding Curve mechanism drives the price to rise along the curve, allowing users to exchange tokens proportionally during the TGE.

Compared to the traditional "one-size-fits-all" pricing model where TGE project parties set prices unilaterally, BuildKey allows the market to discover and define prices through real capital flow.

This helps to enhance the transparency of early pricing for TGE projects, while also enabling more users to participate in the price discovery process and gain more opportunities for benefits.

This is somewhat similar to PumpFun's "internal" trading model, which addresses the dual pain points of insufficient early liquidity and unfair pricing through a progressive pricing mechanism. Therefore, Binance Wallet's adoption of the BuildKey mechanism for the first phase of the TGE project is a new attempt to further expand community user participation in Binance ecosystem activities.

2) Why do I say this? Because the introduction of BuildKey perfectly compensates for the shortcomings of the Binance Alpha Point airdrop system.

The current Binance Alpha system allows users to inject market-making funds into the ecosystem by accumulating points (through trading, providing DEX liquidity, etc.) to receive airdrops from a shared pool, but the prices at which users participate are determined by the project parties. With the addition of the BuildKey mechanism, users can also participate before the TGE.

In other words, the introduction of BuildKey will create a brand new value capture path for the Binance Alpha system: deposit BNB to purchase Keys → obtain early premiums through curve trading → exchange tokens proportionally during the TGE.

This can be seamlessly connected to the original value capture mechanism where Alpha users increase trading volume → earn points → redeem shared pool airdrops, forming a complete closed loop from price discovery before the TGE to point mining.

3) From a user experience perspective, the inclusion of the Binance Wallet will significantly lower the participation threshold for BuildKey.

Previously, users needed to perform relatively complex DeFi operations to participate in Aspecta's community TGE activities, while Binance Wallet users can conveniently complete BuildKey purchases directly within a familiar interface. Importantly, the integration of Alpha Point will also prevent bot participation, making early price discovery fairer and helping Alpha platform listing projects gain more early reputation.

If the Binance Alpha system has driven liquidity in the Binance chain ecosystem through the point airdrop mechanism, then the BuildKey price discovery mechanism will help the Binance wallet become the preferred platform for TGE. In my view, this is the main purpose of Binance Wallet introducing BuildKey.

Once BuildKey is successfully implemented on the Binance Wallet, it is likely to become a standardized TGE component in the industry.

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