Met a lot of projects at 2049 focused on building yield-related products: Bitcoin-based, stablecoin-based, leveraging high-frequency quant strategies, DeFi strategies, RWA—such a mixed bag. This cycle, traditional money has entered the space, and all kinds of RWA yields have been brought on-chain. Yield-focused products are, of course, a solid direction. Building a big pool to earn interest is also a decent business model. But it just doesn’t feel exciting enough. Maybe this feeling comes from the sense that the industry is no longer in its wild, untamed days, and class stratification has set in. There are more and more products catering to whales and institutions, but very few that truly understand the needs of retail users. It’s like in Jin Yong’s novels, where there’s only Wudang and Shaolin, only the 'Five Mountain Sword Sects Alliance, united as one.' If you take away the territories and the clashes of Kongtong Sect, Kunlun Sect, Emei Sect, Shennong Gang, Haisha Gang, and Huanghe Gang, it kind of loses its charm.