I'm not very good at making complicated money models I said yesterday that Pumpfun is like licking blood at the edge of a knife for me. In addition to valuation, for me, the complexity of obtaining this return has skyrocketed under such high heat. If there is a problem in one link, significant losses will occur. But I didn't expect CEX to hold back, and the compensation of 20U is probably the biggest concession. But this is the cryptocurrency circle, no matter how well conceived, an increase in execution complexity also means an increase in the probability of failure. Especially when there is a significant difference in information between you and the exchange or project team, it becomes even more difficult. In the financial world, the more complex and fragile it is. All complex models are disguised determinacy, carefully crafted traps by the market makers. Any mechanism that you think, you don't understand, seems impressive, is basically aimed at making you pay tuition fees. The simple meaning is not brainless, but that you are sure you understand and can execute, but many people have been defeated by the latter. From coarse hair to simplicity, the road runs straight and is the same in any field.