After Zama's TGE, it's pretty surprising that they managed to bring the token price back up. The key takeaway: Zama has created a new tool for crypto finance. This aligns with their long-term positioning. If they can stick to this positioning, the asset's future trajectory could gain long-term stability. Zama's positioning is to build encryption capabilities on L1 or L2, but that's not the most important part. The most important part is the creation of encrypted vaults, like depositing cUSDC and cUSDT into Morpho's vaults to earn lending yields. Encrypted vaults mean that actions like depositing, withdrawing, and borrowing assets won't be public. For example, the cUSDC vault from Steakhouse in June. Asset swaps on Zama Swap and deposits/withdrawals on Zama's DeFi protocol also won't expose your positions. This feature is likely to attract institutions and whales, which is the foundation of Zama's long-term stability. If they keep pushing in this direction, they might just master the crypto finance game. So, I'm picking up some spot positions at a low price and waiting for them to roll out more 'financial catalysts.'