Today, I want to chat with everyone about the underlying logic and core capabilities of Bitget's tokenized US stock solution. First, let’s clarify: our underlying broker is the US-compliant broker Alpaca, which handles custody. The assets are fully compliant, real, and traceable—this is the foundation for providing users with a solid product experience and rights protection. 1. Why is Bitget launching its own tokenized US stock solution? Crypto Native is our original intention. Both the exchange and the on-chain ecosystem are built around tokenization. Tokenization is fully integrated with the exchange's existing trading capabilities (unified accounts, cross-margin, collateral) and supports all trading tools (strategies, copy trading, AI agents). It also enables seamless expansion into the on-chain ecosystem. We envision tokenization as a bridge to bring in high-quality traditional assets, achieving mutual empowerment in both directions. 2. How does tokenization achieve direct liquidity connection and 1:1 dividends? This is the area where we’ve invested the most in R&D. Our team has designed a high-performance, millisecond-level on-chain counter system that penetrates centralized trading orders and completes the entire tokenization process. At the same time, it ensures precise execution of dividends, stock splits, and other rights, achieving a 1:1 dividend distribution in full. What we’re offering is undoubtedly the most competitive tokenization solution on the market: US-compliant broker Alpaca custody -> Reality chain fully transparent issuance -> Direct liquidity connection and 1:1 corporate actions -> Full integration of tokenization with CEX/on-chain ecosystems. This time, we’re confident we’ll deliver the best!!!