In recent months, platform coins have started to heat up again. OKB, BNB, HT, JUP, BGB are all rising, and everyone is talking about ecological and activity expectations. But I think there is a name that is becoming increasingly noteworthy now: MNT. Many people are not yet familiar with it, but in fact, MNT is Bybit's core asset, not an independent public chain coin. Bybit has been strengthening its position for the past six months Deduction of transaction fees, VIP discounts, exclusive event entry points, Launchpool staking channels... each action is telling the market one thing: MNT is the most important part of their ecosystem. If BNB represents Binance's golden age, then MNT is likely Bybit's second growth curve. Launchpool is the most direct manifestation of MNT's value: Many people have not noticed that Bybit's Launchpool is actually the core application scenario of MNT. You only need to pledge MNT, BBSOL, or even USDT to obtain TGE tokens for the new project. You don't need to create a liquidity pool or worry about contract risks, you can participate in just a few steps. Essentially, Bybit is redoing the high-yield logic of DeFi Summer in a centralized manner. Many people are saying, 'Hey, the DeFi Summer of 2021 has passed, the opportunity is gone.'. ”Actually, it's not entirely correct. That wave of dividends did indeed grow wildly on the chain, with liquidity mining, lock up and instant token conversion, and APY fluctuating by hundreds or thousands. But if you miss it, don't be too sad. Because Bybit's Launchpool is reproducing a similar atmosphere in the dividends of the exchange version. At that time in 2021, it was a carnival on the chain: opening pools, rolling up LPs, soaring gas, and bursting APY tables. But behind high returns, there is high risk. What Bybit is doing now is actually "CEX-ization" of that mode. In other words, it makes liquidity mining safer, lighter, and easier to participate in. Users can still earn money from ecological growth, but there is no need to tinker. That's why DeFi Summer 2.0 in this wave of CEX is interesting. High returns are no longer exclusive to on chain players, but an opportunity for all users to participate. You can consider Bybit's Launchpool as: DeFi Summer Potential+Exchange Convenience=New Wave of Low Threshold Participation Opportunities. The recent three episodes of Launchpool (ENSO, YB, ZBT) have had explosive results: ENSO: Annualized over 300% YB：180%+ ZBT: Annualized by nearly 200% on the day of the event This level of return is already top-notch in the current market environment. How to play Launchpool? The mechanism is actually quite simple: get into: https://www. (bybit.com)/zh-MY/trade/spot/launchpool Find the activity in progress displayed in the upper right corner and choose your favorite pool to stake. For example, in the latest SYND event, you can choose to pledge SYND, USDT, or MNT. If you are someone like me who seeks stability, I recommend stablecoin pools USDT and Taiwan dollar MNT. I believe that MNT can be held for the long term like BNB and OKB, and is already a very mature asset choice. If pursuing high returns, being able to bear risks, or being able to hedge, you can choose to pledge with new currency. Why do I think MNT is still undervalued? The data is placed there: BNB's market value is close to 100 billion, while MNT is less than 1/10 of it. Bybit's trading volume, market share, and institutional activity have long been on par with Binance's early stages. Looking at the trend again: There are not many exchanges that can achieve both compliance and high returns at the same time, while Bybit is steadily expanding. Moreover, the value of platform coins is no longer based on the logic of discount coupons, but rather a dividend certificate that grows together with the platform ecosystem. Each issue of Launchpool is strengthening the practicality and status of MNT. So I think MNT is still in the stage of BNB 2018- with a small market value, just starting the story, and the ecosystem is taking shape. Actually, many smart money has already noticed. They are not looking at short-term APR, but Bybit is reshaping the entire CeFi growth model with Launchpool and MNT.