I'm glad to see that @ Backpack has finally caught everyone's attention this year. In the past few years, many newly opened exchanges have directly adopted existing matching engines and architectures, and can be launched by changing the interface and brand. The field of CEX has not really undergone any significant innovation for a long time. More often than not, it is just an expansion at the business level and a patchwork of existing systems. Backpack has chosen a slower and more difficult path. They remade the entire trading engine. If we use games as a metaphor, it's like everyone directly develops games with Unreal Engine, but Backpack decides to create a new game engine on its own. The cost of this approach is also evident. The product development cycle has been extended for a long time, which has resulted in missing out on the most lucrative period of the previous bull market. By the time they actually developed the contract trading system, the market had already gone around. But in this round, Solana's on chain stocks have become the official focus of development, and the value of Backpack's investment in underlying infrastructure, trading systems, and compliance licenses over the past few years is gradually being seen by the market. In a cryptocurrency industry that generally pursues speed, traffic, and making quick money, it is actually rare to be willing to spend years to redo the lowest and most difficult things. Congratulations @ armaniferrante. After spending so many years on a slow and difficult to understand path, we are finally starting to see results.