The rise of a protocol and ecosystem requires the right timing and conditions. Looking back, the release of Runes on the day of the halving, after six months of buildup, was like the last spark of life for BTC ecosystem coins. After that, some teams tried optimizing BRC-20, doing things based on OP_Return, or launching stuff like Ordi Fun, but it was all futile. Minor innovations and patchwork fixes don’t mean much—only 10x-level improvements can drive participation across the entire industry. People FOMO over things they’ve never seen before, things they can’t immediately understand. They don’t get hyped over "minor innovations." Besides, March 2023 was still at the tail end of the bear market, and the market had nothing exciting going on. That’s the timing—hard to replicate. Then in April, Pepe burst onto the scene, shouting the bold slogan "make meme great again." I’ve always said Pump Fun and BRC-20 share many core similarities, but we have to admit, Pump Fun represents a 10x-level innovation in asset issuance and operational efficiency compared to BRC-20. This isn’t just patchwork fixes. It’s like how recommendation algorithms compared to feed streams, feed streams compared to RSS subscriptions, and RSS subscriptions compared to portal websites represent three major leaps in content distribution systems over the past 20 years of internet history.