Honestly, it's really tough for small exchanges in this version of the game. Trying to innovate often just means acting as a testing ground for the big exchanges. If it doesn’t work out, it’s a waste of funds. If it does work, it gets taken away in two or three months at most. MSX was the first to do U.S. stocks and pre-IPO, but when all the CEXs started competing with the same strategies, there really wasn’t much of an edge left. It’s not like the early altcoin days, where small coins that big exchanges didn’t want to list could occasionally pump and create some differentiated competition. Now, everyone’s listing the same U.S. stocks, and the chips aren’t even in their own hands. Trying to do any kind of market manipulation is basically impossible At least Maitong woke up in time and issued their token. If they had waited any longer, even the current volume might’ve been hard to achieve. Chances are, a lot of small exchanges won’t make it through the next six months.