Thoughts on On Chain US Stocks: The core of trading is liquidity. Assets with insufficient liquidity can only be classified as lottery investments. After being listed on the US stock market, liquidity issues are particularly severe due to the lack of market makers, and the US stock itself is not suitable for lottery investment. At the same time, it is not difficult for cryptocurrency traders to open US stock accounts, and the liquidity of US stocks far exceeds that of the on chain market. Why did many large cap currencies choose to be loaded into the US stock market in this round? The reason lies in the superior liquidity of the US stock market. However, after the listing of the US stock market, the lack of market makers resulted in insufficient liquidity. How to solve this problem? I think there are two options: 1. US perpetual contract products: Focusing on high-value stocks, attracting arbitrage funds to inject liquidity through the long-term premium and rate arbitrage opportunities of perpetual contracts. 2. MEME gameplay for on chain main market makers: Focus on low market cap stocks, imitate the MEME coin model of the cryptocurrency circle, market makers enter the on chain market, reverse map to US stocks, and create new sources of liquidity.