The dilemma of Binance: Only the source of living water can come The advantages of cryptocurrency exchanges should not be wasted on TraderFi, the focus should be on the users themselves rather than the entrance. Let's take a look at the following situation first: one ️⃣ Hype Binance: Two Phenomena HYPE has completely removed centralized approval and regulatory bottlenecks in stock contracts, allowing "any qualified builder to quickly add new TradFi assets 24/7", forming an explosive expansion flywheel. On the one hand, it is HL's "hourly/daily" listing speed, while on the other hand, Binance faces weekly/monthly+compliance audits Binance's speed is significantly lagging behind and is only limited to some individual stocks/ETFs, subject to regional regulations (US users may not be able to trade). HL's S&P 500 was only launched on the same day of authorization, and there is still no official licensed index per for similar products on Binance, and expansion is hindered by global compliance models. After hours/weekends/macro event trading in the US stock market (HL remained hot even when traditional stock markets closed), OI surged from $200 million before the launch of HIP-3 to a peak of $1.43 billion. Binance is a "centralized bottleneck": every stock contract has to go through legal/risk control/partner processes, which are inherently slow, and they dare not easily touch pre IPO and synthetic stocks (with high compliance risks). Hyperliquid is "decentralized AWS": HIP-3 hands over listing rights to builders+code, more stock contracts → more TradFi traffic (institutional/whale 24/7 hedging) → higher volume/OI → higher income buyback → HYPE value capture → more builders entering the market. By 2026, HIP-3 has contributed tens of billions of dollars in annualized revenue, far exceeding Binance's incremental increase in equity premiums. two ️⃣ Why does Binance focus on short-term gains over long-term gains Binance's opponents are originally here to attack Seven Inch, competing to see who can quickly put the entire TradFi on the chain. Binance has always been here to take advantage of its strengths and weaknesses. If one ignores their strengths as the leader of cryptocurrency exchanges and the best trading depth, and engages in a direct battle with the other party on this track, it is simply tying their arms. Everyone knows to do what they are good at, and Binance should not enter the comfort zone of its opponents to fight. Whether it's the cryptocurrency market or the stock market, they are essentially one market, and Hype and Binance are just trading places. The most important thing is to have their own users ➕ Cultivating user habits, the rise of Binance after 1994 is also due to the cultivation of users' habits of cryptocurrency trading, which siphoned off the entire encrypted traffic. This is something that I believe Yijie and Cz have deeply felt along the way In recent years, it has been rare to see a surge of new users entering crypto. Essentially, today's exchanges are constantly consuming existing users, and without their own encrypted users, the market will not regain its former prosperity. And the path Hype took was originally intended to facilitate tax and stock players, and was also aimed at attracting stock players. If the wind of stocks is not hot, the wind of encryption in their own territory will blow better, and naturally there will be a continuous stream of customers flocking to them smelling the aroma of wine. What Binance needs to do is to first liven up the atmosphere and let guests in. Whatever dishes are ordered will be their own. three ️⃣ Only at the source can there be living water Since the problem lies with the users, it is only necessary to focus on the users themselves. Everyone has their own preferences, but the popularity of restaurants is a herd effect. No matter how delicious your food is, unfamiliar new courses will only choose the more lively restaurant next door. The source is naturally the users. It takes a continuous stream of new users to be attracted in order to have popularity. With good popularity, there will be customers. What new specialty dishes do you want to make will be known to people and ordered to taste. A restaurant with good business must have a reputation that is passed down through word of mouth among old customers, rather than being criticized by old customers. It is well known that restaurants that do not sincerely serve customers will eventually close down. Let me give you the most straightforward and eye-catching example of the Meme track: if one's own unique Chinese Meme culture track, which is also recognized by the market as Bsc's unique, cannot be positively accepted and requires constant southeast and northwest winds to attract their own customers, then how can we attract customers who have not yet stepped into the door. The track with the best market consensus has not been disrupted by external diversion, but has been stillborn by its own people and replaced by a crown prince by a raccoon cat, while the next door is thriving and becoming its own comfort zone. Is this someone else's fate or their own eunuch's tyranny, causing chaos in the hearts of the people The Chinese language track, Binance Life, is originally the best marketing activity. Binance can use this as the theme for various peripheral activities to help the exchange acquire customers, attract more newcomers to learn about Binance, and enter Binance. In the end, the development seems to be just a PVP that is the same every time, while the neighboring Hype is expanding rapidly in its comfort zone. Is it because Binance does not want to acquire new customers or can only be led by others and ignore its own advantages, only wanting to waste and squander its old capital and these loyal customers who trust Binance. Every Binance user can resonate with Binance's life, but it's not like a wild dog PvP resonance on the chain. Instead, they can share their experiences with Binance, share their joy in Binance, share their Binance trading life, share their inner thoughts from 0 to 1, and grow from a novice to a professional trader on Binance, rather than sharing their Hype happy trading. What you share will attract others. I believe @ heyibintance also wants Binance to become a place that everyone likes and uses to trade everything. However, the most important thing is to attract more users to Binance, starting from Binance, so that they can have a sense of belonging and identity. Only then can more people understand and spread the Binance life that belongs to every Binance user, and trade everything on Binance. Only then can users and Traderfi Binance truly win from the source. Trade with Binance and enjoy Binance Life Social media marketing is always the most direct marketing communication method that hits the brain, and it is the best customer expansion behavior @ heyibintance @ isibinance @ binancezh