If Nasdaq stocks go on-chain, it’s not the end of on-chain assets—it’s the beginning of innovation and a massive bull market. The timing might not be this cycle, but it could be the catalyst for the next big bull run. Why? Once stocks are on-chain, whether it’s the service protocols supporting these new assets, or the new token-stock Ponzi schemes that emerge, or the massive influx of funds driven by these new technologies and asset trends, it will all bring groundbreaking technological and narrative innovation, along with capital inflows, to the chain. I’m very optimistic and can vaguely see the early signs of a new DeFi Summer-like golden age. No matter how much on-chain DEX trading volume and user numbers drop right now, don’t be misled by short-term data. The on-chain space must absolutely prioritize persistence over cycles.