Asset issuance is always the most important theme in the cryptocurrency industry. The launchpad needs to think about two questions: one ️⃣ What assets will be issued? two ️⃣ What game mechanism is used? Taking Holo's attempt as an example, let me share my thoughts: Regarding the first item ️⃣ A question, Holo is empowering CCM, which means the economic monetization of creators. The key here, in my opinion, is' sustainability '. After watching the recent live streaming attempts of Pump, I think there is a problem that I haven't figured out yet, which is that creators earn "transaction fees" and it's better to smash the plate all at once; And once the transaction is quiet, the "handling fee" immediately decreases. How can we continue to incentivize it? This issue requires an effective mechanism to screen and incentivize, a benign creator economy, in order to bring sustainability, confidence, and consensus in subsequent purchases. Regarding the second item ️⃣ A question, Holo uses "long-term ecological participant incentives+casual gameplay+diversification (whitelist/new users, etc.)" to solve the problem of bot fundraising. Here are a few questions that need to be answered: Can early adopters of chips play a crucial role in the CX project? Can this game mechanism bring about widespread wealth effects and promote more people to participate? Is this game mechanism innovative enough to combine with asset types and bring more topical narratives? I think a launch pad must solve these problems in practical operation and form a healthy ecosystem, similar to the core group of "hosts/mcn/platform/audience/tipping users" in web2 live streaming platforms, and the core group of content publishing and consumption on Xiaohongshu: women with high consumption ability and sharing desire. Only the formation of early benign ecosystems such as inscriptions and pump memes can bring about wealth effects and widespread participation.