The "pricing power" of unlisted assets is moving into the crypto world. I think this is a new round of paradigm shifts. Right now there are three ways to play:
① The perpetual camp, using perp to price unlisted projects (represented by xyz, entropy);
② The CEX subscription camp—Binance/Sesame/Gate issue tokenized shares on-platform, with a centralized ledger;
③ The on-chain camp—Binance Wallet × PancakeSwap directly turn shares into on-chain AMMs.
The core change is that the liquidity of primary assets is starting to be redefined through crypto-style gameplay.
① The perpetual camp, using perp to price unlisted projects (represented by xyz, entropy);
② The CEX subscription camp—Binance/Sesame/Gate issue tokenized shares on-platform, with a centralized ledger;
③ The on-chain camp—Binance Wallet × PancakeSwap directly turn shares into on-chain AMMs.
The core change is that the liquidity of primary assets is starting to be redefined through crypto-style gameplay.