The Socialfi track is much more crowded than I imagined, with up to 22 pages of results for searching for the "social" term on Rootdata. However, there are very few Web3 social applications that can enter our life, let alone Twitter Tiktok, which affects our lifestyle. In my opinion, the primary goal for the Socialfi project to succeed should be to meet the social needs of a certain group of people. And in order to compete with mature Web2 products, it is necessary to meet the needs that other platforms cannot meet in order for users to be willing to migrate. Previously, @ TownsProtocol, which launched Binance Alpha, was solving the problem in this way: by directly addressing the pain points of creators on the Web2 platform, such as lack of ownership, difficulty in monetization, and opaque revenue, they created a Discord+Telegram on the chain. Towns Protocol is an open-source protocol used to build decentralized communication applications. It consists of an EVM compatible L2 chain, decentralized downstream nodes, and smart contracts deployed on the Base. At present, a total of 46 million US dollars has been raised, led by a16z Crypto and Coinbase Ventures. I had a brief experience with the product, and first of all, the features are quite comprehensive, almost restoring the Discord mode. Different groups (here called Space) contain various sub channels with different functions. The difference is that the Space here belongs to the creator and comes with a set of monetization tools including tickets, subscriptions, tips, paid activities, etc. Simply put, it is more like a paid group on the chain. This is also the core of the Towns economic model, where all activities on the Towns Chain generate protocol fees that will be used for the repurchase and destruction of TOWNS, reducing circulation supply. By rewarding staking and DAOs, as well as providing additional incentives for active spaces, the value of the token can be fed back to the holders, creating long-term growth momentum. Ben Rubin, the founder of Towns, is the creator of the million dollar social app Houseparty and has extensive experience in operating and growing social products. The concept of paid groups is also unique and has a very real demand. I think Towns' mechanism design is already very complete. At this stage, it is necessary to attract more high-quality content creators to this platform to apply this model and bring natural user growth.