Binance's observations in Phu Quoc Island: 1. Binance is developing an endogenous social + AI system around trading. I believe Binance is building a comprehensive super product, from wallets to CEX, from social trading to AI trading. I feel Binance's ultimate ambition is to complete trading of any financial product, and even the trading method itself, within Binance's products—Binance Social. This presents an opportunity for new traders and KOLs. 2. Binance's macro analysis was a pleasant surprise at this event. I thought the level of sharing was very high. I think Binance should really include macro analysis research reports in its VIP services. Compared to pretty gifts, high-quality research reports are clearly more useful. Perhaps a new department should be established—Binance Research Institute? @heyibinance @sisibinance @yayabinance 3. This Binance wallet sharing session was led by @AncoBinance. Involving those who understand trading in the core work demonstrates respect for professionalism. 4. At the banquet, @heyibinance She devoted considerable space to analyzing Binance listings, employing a lot of subtle and nuanced analysis. I could sense her dissatisfaction with past project teams and institutions—as she mentioned, she remains responsible for BNB, which she launched years ago. Almost 99.9% of past projects have gone to zero, with many project teams and institutions repeatedly creating hype, issuing tokens, and then "retiring successfully." Yet, despite BNB's outstanding performance, she is still frequently criticized. In a sense, this is a process of bad money driving out good—morally and responsibly issuing tokens treats it as issuing debt, burdening the masses, while many project teams in this circle prioritize draining the industry's liquidity, ultimately resulting in a loss of liquidity. From my own perspective, this might be the beginning of a new dawn. As she said, Binance's influence has decreased due to the rise of on-chain technology, meaning that perhaps true Web3 projects will emerge on-chain. I firmly believe that with the development of productivity, the token economy that attracted me to the crypto world in 2018—the ecosystem benefits—will appear not only for shareholders but also for all partners in the ecosystem at some point in the future. If all else fails, let's leave this economic model to silicon-based civilizations. Finally, thank you Binance for the invitation.