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江西首富
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江西首富

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Recently I saw $niulai, and I think it’s quite suitable to view it from the perspective of “content projects.” The movie 《Niu Lai》 is the source of the content; Meme is a way for the community to express itself; and Web3 provides a new user environment. These three things are not simply added together—they are meant to bring traffic to each other. Whether this logic can form a positive feedback loop depends on how much genuine participation the community will have afterward. #niulai #牛来
Recently I saw $niulai, and I think it’s quite suitable to view it from the perspective of “content projects.”

The movie 《Niu Lai》 is the source of the content; Meme is a way for the community to express itself; and Web3 provides a new user environment.

These three things are not simply added together—they are meant to bring traffic to each other.

Whether this logic can form a positive feedback loop depends on how much genuine participation the community will have afterward.

#niulai #牛来
Previously, investing meant just watching one market was enough. Now things are different. The US stock market has opportunities, gold has its own volatility, crypto assets have their own cycles, and the FX market follows an entirely different logic. And that brings its own problems: There are more and more accounts, more and more platforms, and operations become more and more complicated. So I believe the real value of a multi-asset trading platform isn’t about helping you predict which asset will rise. It’s about bringing those originally scattered investment needs together and resolving them as much as possible in one place. That’s what BiyaPay is doing. One account to invest globally. No need to turn investing into a pile of complex account management. Markets will always change, but investment tools can become simpler and simpler. https://biyapay.com/re/49645072
Previously, investing meant just watching one market was enough.

Now things are different.

The US stock market has opportunities, gold has its own volatility, crypto assets have their own cycles, and the FX market follows an entirely different logic.

And that brings its own problems:

There are more and more accounts, more and more platforms, and operations become more and more complicated.

So I believe the real value of a multi-asset trading platform isn’t about helping you predict which asset will rise.

It’s about bringing those originally scattered investment needs together and resolving them as much as possible in one place.

That’s what BiyaPay is doing.

One account to invest globally.

No need to turn investing into a pile of complex account management.

Markets will always change, but investment tools can become simpler and simpler.

https://biyapay.com/re/49645072
"The more I think about it, the more something seems off. Kaito only announced about two weeks ago that they’d signed a data agreement with X, and they still haven’t rolled out the follow-up. Then just a few hours ago, Nikita stepped down from the management role to become an advisor, and a new team has taken over. Put these two things together, and it’s hard not to overthink. Everyone on Kaito’s side remembers that earlier this year, it got hit hard when X tightened its API policies. Is it possible Kaito already knew Nikita was going to step down, so they pushed to finalize the agreement before the handover—just to pave the way for InfoFi’s return? Purely my personal speculation. Don’t take it seriously for now."
"The more I think about it, the more something seems off.

Kaito only announced about two weeks ago that they’d signed a data agreement with X, and they still haven’t rolled out the follow-up. Then just a few hours ago, Nikita stepped down from the management role to become an advisor, and a new team has taken over.

Put these two things together, and it’s hard not to overthink. Everyone on Kaito’s side remembers that earlier this year, it got hit hard when X tightened its API policies.

Is it possible Kaito already knew Nikita was going to step down, so they pushed to finalize the agreement before the handover—just to pave the way for InfoFi’s return?

Purely my personal speculation. Don’t take it seriously for now."
Verifying my Binance Square account for YZi Labs Amplify via EchoHunt: EH-CP272A
Verifying my Binance Square account for YZi Labs Amplify via EchoHunt: EH-CP272A
🪷 One Thought Seeking the Way, All Laws Accompany The doctrine of seeking the Way has been delivered—starting today, we will officially accept new disciples. WD relies on the BNB Chain BAP-578 protocol to inject each NFA with an independent spiritual mind. How deep your cultivation goes and the direction your growth takes are determined by your single thought. Forging an NFA is to enter the sect. Daily tasks must not be neglected—logging in is like burning incense, following is like watching the stars, sharing is like transmitting a talisman, and interacting is like debating the Way. Every step and every move becomes cultivation. Accumulating cultivation points is preparing for WD’s future foundation-laying airdrop. Cultivate diligently today, and there will be echoes tomorrow. Official website: https://wendaobsc.xyz/ X: https://x.com/WD_NFA
🪷 One Thought Seeking the Way, All Laws Accompany

The doctrine of seeking the Way has been delivered—starting today, we will officially accept new disciples.

WD relies on the BNB Chain BAP-578 protocol to inject each NFA with an independent spiritual mind. How deep your cultivation goes and the direction your growth takes are determined by your single thought.

Forging an NFA is to enter the sect. Daily tasks must not be neglected—logging in is like burning incense, following is like watching the stars, sharing is like transmitting a talisman, and interacting is like debating the Way. Every step and every move becomes cultivation.

Accumulating cultivation points is preparing for WD’s future foundation-laying airdrop. Cultivate diligently today, and there will be echoes tomorrow.

Official website: https://wendaobsc.xyz/
X: https://x.com/WD_NFA
red envelope
大吉大利!
From 江西首富
Sat on the blockchain’s cold bench for quite a while—#BinanceLife, get up and brush the dust off. Now it’s #AIDOGE ’s turn to enter and take a seat. No signal-selling, no empty promises—just that there are people on the bench, so the fire hasn’t gone out. Check the temperature; you’ll know in your heart.
Sat on the blockchain’s cold bench for quite a while—#BinanceLife, get up and brush the dust off.

Now it’s #AIDOGE ’s turn to enter and take a seat. No signal-selling, no empty promises—just that there are people on the bench, so the fire hasn’t gone out. Check the temperature; you’ll know in your heart.
red envelope
大吉大利!
From 江西首富
The BSC pool started to give off hot steam. #币安人生 snapped his fingers, and the water level immediately rose two levels. #USMCA crouched in the corner without a word, sharpening his blade; chips piled up fast, and selling pressure could be absorbed—like a grenade with the pin still on; whoever notices first gains the advantage.
The BSC pool started to give off hot steam. #币安人生 snapped his fingers, and the water level immediately rose two levels.

#USMCA crouched in the corner without a word, sharpening his blade; chips piled up fast, and selling pressure could be absorbed—like a grenade with the pin still on; whoever notices first gains the advantage.
Still out here saying: "Let’s just wait and see." Tomorrow it might just turn into: "Why didn’t I buy back then?" That’s the trend. $BNB #binance $BEAT
Still out here saying: "Let’s just wait and see." Tomorrow it might just turn into: "Why didn’t I buy back then?" That’s the trend.

$BNB #binance $BEAT
I'm increasingly convinced of one thing: once a trend is established, it’s stronger than most people think. $BEAT has rallied all the way up to $8. There have been countless doubts along the way. But after every dip, the market has pushed to higher prices. That’s the scary part about trends. $BNB #binance $BEAT
I'm increasingly convinced of one thing: once a trend is established, it’s stronger than most people think.
$BEAT has rallied all the way up to $8.

There have been countless doubts along the way.
But after every dip, the market has pushed to higher prices.

That’s the scary part about trends.
$BNB #binance $BEAT
$BEAT just hit a new all-time high. Price is at $5.4, market cap has surpassed $1.56 billion, and the 24H trading volume reached $115 million. New highs don't just happen on their own. The market is re-pricing with real money. $BNB #binance $BEAT
$BEAT just hit a new all-time high.
Price is at $5.4, market cap has surpassed $1.56 billion, and the 24H trading volume reached $115 million.
New highs don't just happen on their own.
The market is re-pricing with real money.
$BNB #binance $BEAT
Just checked out CoinMarketCap. $BEAT is now at $4.70, 24H +9.53%. Feels pretty surreal. At the start of the year, many thought it was done for, now the market cap has reached 1.35 billion dollars. The biggest allure of the market is: it always rewards those projects that stick it out and continue to grow. $BNB #binance $BEAT
Just checked out CoinMarketCap.
$BEAT is now at $4.70, 24H +9.53%. Feels pretty surreal.

At the start of the year, many thought it was done for,
now the market cap has reached 1.35 billion dollars.

The biggest allure of the market is: it always rewards those projects that stick it out and continue to grow.

$BNB #binance $BEAT
Hey fam, don’t miss out on the evening of June 5th. Binance Mandarin EP147 × Audiera. This episode highlights: Latest updates on Rhythm Entertainment How to profit from human-machine co-creation How AI Agents can get involved in content production The ecosystem role of $BEAT One-click triple draw for 3 Binance white tees, good questions in the comments earn you 100U. $BEAT
Hey fam, don’t miss out on the evening of June 5th.
Binance Mandarin EP147 × Audiera.

This episode highlights:
Latest updates on Rhythm Entertainment
How to profit from human-machine co-creation
How AI Agents can get involved in content production
The ecosystem role of $BEAT
One-click triple draw for 3 Binance white tees, good questions in the comments earn you 100U.
$BEAT
Satoshi Nakamoto's greatness lies not only in groundbreaking technological innovations but also in profound spiritual guidance. He embodies the essence of decentralization through anonymity and selflessly interprets the original intention of blockchain, turning "currency freedom" from an ideal into reality, transforming the vision of a few into a right accessible to every individual. Over the years, Bitcoin has grown from a technical experiment in the geek community to a globally recognized asset, while blockchain technology has gradually infiltrated various industries. The faith left by Satoshi Nakamoto remains the foundation and soul of the industry's development. Today, we pay our highest respect to Satoshi Nakamoto: Happy Birthday, Satoshi Nakamoto! Thank you for your greatness in anonymity, bringing the possibility of freedom to the world. The spirit of encryption endures, and the faith in Satoshi Nakamoto lives on. On April 6 at 8 PM, all cryptocurrency enthusiasts will gather at Binance Square 【Baoluo Capital】 to jointly commemorate the great Satoshi Nakamoto. The communities supporting this Satoshi Nakamoto Memorial Day event include the Peak Chinese Community and MSKE-NB Chinese Community.
Satoshi Nakamoto's greatness lies not only in groundbreaking technological innovations but also in profound spiritual guidance.

He embodies the essence of decentralization through anonymity and selflessly interprets the original intention of blockchain, turning "currency freedom" from an ideal into reality, transforming the vision of a few into a right accessible to every individual.

Over the years, Bitcoin has grown from a technical experiment in the geek community to a globally recognized asset, while blockchain technology has gradually infiltrated various industries. The faith left by Satoshi Nakamoto remains the foundation and soul of the industry's development.

Today, we pay our highest respect to Satoshi Nakamoto:
Happy Birthday, Satoshi Nakamoto!

Thank you for your greatness in anonymity, bringing the possibility of freedom to the world.

The spirit of encryption endures, and the faith in Satoshi Nakamoto lives on.

On April 6 at 8 PM, all cryptocurrency enthusiasts will gather at Binance Square 【Baoluo Capital】 to jointly commemorate the great Satoshi Nakamoto.

The communities supporting this Satoshi Nakamoto Memorial Day event include the Peak Chinese Community and MSKE-NB Chinese Community.
Recently, when looking at $BEAT , a noticeable feeling is that this project is not just "hot" anymore, but is starting to show signs of having "structure". On April 4th, the 24h trading volume of $BEAT on Binance Alpha reached 317 million USD, with over 3.48 million transactions, indicating that market interest and participation are quite high. Combining this with CoinMarketCap's display of the total market 24h trading volume of approximately 310 million USD, it can be seen that the main transactions are mainly concentrated on the Alpha side. What is even more worth watching is the cumulative trading volume of 179 million USD on the DEX side in March. If this level of volume can be sustained, it usually means there are real ecological activities supporting it. The collaboration between human players and AI Agents in creating, interacting, and competing on-chain is what makes this set of data more interesting. #Audiera $BEAT #AIAgent #AgentNativeEconomy
Recently, when looking at $BEAT , a noticeable feeling is that this project is not just "hot" anymore, but is starting to show signs of having "structure".

On April 4th, the 24h trading volume of $BEAT on Binance Alpha reached 317 million USD, with over 3.48 million transactions, indicating that market interest and participation are quite high.

Combining this with CoinMarketCap's display of the total market 24h trading volume of approximately 310 million USD, it can be seen that the main transactions are mainly concentrated on the Alpha side.

What is even more worth watching is the cumulative trading volume of 179 million USD on the DEX side in March. If this level of volume can be sustained, it usually means there are real ecological activities supporting it.

The collaboration between human players and AI Agents in creating, interacting, and competing on-chain is what makes this set of data more interesting.

#Audiera $BEAT #AIAgent #AgentNativeEconomy
I just returned from a trip to Nanjing and have been watching the changes in the situation in the Middle East. I have a feeling that is becoming more and more obvious. Currently, many people still consider crypto as a 'trading market,' but in fact, some projects have started to move towards a more fundamental direction. For example, @SignOfficial is working on this system, which is essentially more like a type of 'geopolitical infrastructure.' When the funds, identities, and agreements from different regions begin to become fragmented, a foundational network like $SIGN that can carry trust and collaboration will become even more critical. In the past, when people talked about narrative, it was more about storytelling. But in this current environment, you will find that: Trust is no longer taken for granted. Cross-regional flows of funds, collaborative agreements, and even identities and data are actually fragmented between different systems. At this point, looking at what @SignOfficial is doing will provide a somewhat different understanding. It resembles the creation of a 'neutral trust layer,' not serving a particular market, but rather addressing 'how different systems can collaborate.' The role of $SIGN here is not just a simple token, but a value carrier bound to this 'cross-regional collaboration demand.' If you extend your perspective over time: As the world becomes more fragmented, and many traditional trust mechanisms begin to fail, this type of infrastructure will gradually become a necessity. Not because it tells a better story, but because our reality starts to need it. #sign地缘政治基建 $SIGN
I just returned from a trip to Nanjing and have been watching the changes in the situation in the Middle East. I have a feeling that is becoming more and more obvious.

Currently, many people still consider crypto as a 'trading market,' but in fact, some projects have started to move towards a more fundamental direction.

For example, @SignOfficial is working on this system, which is essentially more like a type of 'geopolitical infrastructure.'

When the funds, identities, and agreements from different regions begin to become fragmented, a foundational network like $SIGN that can carry trust and collaboration will become even more critical.

In the past, when people talked about narrative, it was more about storytelling.

But in this current environment, you will find that:

Trust is no longer taken for granted.

Cross-regional flows of funds, collaborative agreements, and even identities and data are actually fragmented between different systems.

At this point, looking at what @SignOfficial is doing will provide a somewhat different understanding.

It resembles the creation of a 'neutral trust layer,'

not serving a particular market, but rather addressing 'how different systems can collaborate.'

The role of $SIGN here is not just a simple token,

but a value carrier bound to this 'cross-regional collaboration demand.'

If you extend your perspective over time:

As the world becomes more fragmented,

and many traditional trust mechanisms begin to fail,

this type of infrastructure will gradually become a necessity.

Not because it tells a better story,

but because our reality starts to need it.

#sign地缘政治基建 $SIGN
Recently scrolling through the timeline, I have a rather obvious feeling. Everyone is talking about AI Agents. Those in strategy, content creation, and even project management are almost all leaning in this direction. But after seeing so much, I start to think about a more fundamental question: Where does the data for these Agents come from? Without a stable data input, no matter how smart the Agent is, it is essentially just an 'empty shell'. Many people are currently focused on the application layer. Which Agent is smarter, which is more automated, which can make more money. But what truly determines the ceiling is often not these factors. It's that deeper layer—data. This is also the reason I recently revisited @ChainbaseHQ . Its current positioning is already very clear: it is not a simple data interface, but a Crypto data layer for AI Agents. To put it bluntly, it's not for humans, it's for Agents. The recently popular OpenClaw is actually a very good example. Many people see the application itself, but what it relies on is actually a whole set of data supply capabilities. Most people just don't look deeper into this layer. Adding to that the performance of $C in the past couple of days makes it even more interesting. The market isn't particularly strong, but such infrastructure-oriented assets are starting to emerge. It's more like reflecting something in advance: The market is re-pricing the underlying capabilities in AI narratives. Many times, what moves first isn’t necessarily the most vibrant layer. Instead, it’s those parts that initially seem less conspicuous.
Recently scrolling through the timeline, I have a rather obvious feeling.

Everyone is talking about AI Agents.
Those in strategy, content creation, and even project management are almost all leaning in this direction.

But after seeing so much, I start to think about a more fundamental question:
Where does the data for these Agents come from?

Without a stable data input, no matter how smart the Agent is, it is essentially just an 'empty shell'.

Many people are currently focused on the application layer.

Which Agent is smarter, which is more automated, which can make more money.

But what truly determines the ceiling is often not these factors.
It's that deeper layer—data.

This is also the reason I recently revisited @Chainbase Official .

Its current positioning is already very clear: it is not a simple data interface, but a Crypto data layer for AI Agents.

To put it bluntly,
it's not for humans, it's for Agents.

The recently popular OpenClaw is actually a very good example.
Many people see the application itself, but what it relies on is actually a whole set of data supply capabilities.
Most people just don't look deeper into this layer.

Adding to that the performance of $C in the past couple of days makes it even more interesting.
The market isn't particularly strong, but such infrastructure-oriented assets are starting to emerge.

It's more like reflecting something in advance:
The market is re-pricing the underlying capabilities in AI narratives.

Many times, what moves first isn’t necessarily the most vibrant layer.
Instead, it’s those parts that initially seem less conspicuous.
After calculating the bill for Vera Report, I found that Midnight is slicing a billion-dollar 'bounty cake.'I just received a call this afternoon from an old buddy in Vancouver dealing with distressed asset disposal. He asked me if I was keeping an eye on the anonymous whistleblower reward on Telegram. My first reaction was: this is yet another unexploited billion-dollar arbitrage frontier. To be honest, compared to those abstract privacy concepts, I value the cash flow in that chart from Vera Report much more. Think about it, the U.S. Department of Justice (DOJ) can recover $6.8 billion in a year, and whistleblowers can take home up to 30% of the reward. This is not privacy technology at all! This is clearly a @MidnightNetwork tailored payout infrastructure for global 'bounty hunters.'

After calculating the bill for Vera Report, I found that Midnight is slicing a billion-dollar 'bounty cake.'

I just received a call this afternoon from an old buddy in Vancouver dealing with distressed asset disposal. He asked me if I was keeping an eye on the anonymous whistleblower reward on Telegram. My first reaction was: this is yet another unexploited billion-dollar arbitrage frontier.
To be honest, compared to those abstract privacy concepts, I value the cash flow in that chart from Vera Report much more.
Think about it, the U.S. Department of Justice (DOJ) can recover $6.8 billion in a year, and whistleblowers can take home up to 30% of the reward. This is not privacy technology at all! This is clearly a @MidnightNetwork tailored payout infrastructure for global 'bounty hunters.'
In the past, there were always people who argued with me, saying that privacy technology has no use except for some gray industries. But after seeing the anonymous reporting infrastructure created by @MidnightNetwork , I realized that we had previously thought too narrowly about the term 'technological sovereignty.' The phrase in the image, 'The problem is not courage, but infrastructure,' really struck me. Today, I stared at the logic of Vera Report for a long time. Previously, if you wanted to be a 'whistleblower,' you had to gamble on your family's future and even personal safety; the cost of this sense of justice is too high for ordinary people to bear. However, Midnight's current approach is to use ZK (zero-knowledge proof), transforming the heavy moral choices into a set of lossless code solutions. The most impressive operation is: the front end allows you to be completely 'invisible' on Telegram, while the back end can ensure through compliance proof that the government pays you that 15% bounty. This kind of 'what should be hidden is hidden, what should be revealed is revealed' is the real trust infrastructure. However, I also have to pour some cold water from a technical perspective. This kind of 'selective disclosure,' although clever, also means that Midnight has left specific 'windows' for audits in its underlying protocol. I observed that in the current testing environment, the response speed for this anonymous submission is relatively stable, but if faced with a massive demand for multinational audits in the future, I actually have concerns about whether this balance beam can hold steady. I think Midnight's move has directly pulled privacy technology from the 'laboratory' to the 'anti-corruption front line.' I am optimistic about this logic that seeks productivity from the real world by seven points, and I have to reserve the remaining three points for the pressure performance of this compliant privacy under extreme regulatory pressure. Don't just look at $NIGHT 's ups and downs; see if this system can really make that 500 billion in corruption costs disappear. #night $NIGHT
In the past, there were always people who argued with me, saying that privacy technology has no use except for some gray industries. But after seeing the anonymous reporting infrastructure created by @MidnightNetwork , I realized that we had previously thought too narrowly about the term 'technological sovereignty.' The phrase in the image, 'The problem is not courage, but infrastructure,' really struck me.

Today, I stared at the logic of Vera Report for a long time. Previously, if you wanted to be a 'whistleblower,' you had to gamble on your family's future and even personal safety; the cost of this sense of justice is too high for ordinary people to bear.

However, Midnight's current approach is to use ZK (zero-knowledge proof), transforming the heavy moral choices into a set of lossless code solutions. The most impressive operation is: the front end allows you to be completely 'invisible' on Telegram, while the back end can ensure through compliance proof that the government pays you that 15% bounty. This kind of 'what should be hidden is hidden, what should be revealed is revealed' is the real trust infrastructure.

However, I also have to pour some cold water from a technical perspective. This kind of 'selective disclosure,' although clever, also means that Midnight has left specific 'windows' for audits in its underlying protocol.

I observed that in the current testing environment, the response speed for this anonymous submission is relatively stable, but if faced with a massive demand for multinational audits in the future, I actually have concerns about whether this balance beam can hold steady.

I think Midnight's move has directly pulled privacy technology from the 'laboratory' to the 'anti-corruption front line.'

I am optimistic about this logic that seeks productivity from the real world by seven points, and I have to reserve the remaining three points for the pressure performance of this compliant privacy under extreme regulatory pressure.

Don't just look at $NIGHT 's ups and downs; see if this system can really make that 500 billion in corruption costs disappear.

#night $NIGHT
Starting from Balance Custody of Midnight: Can Cold Storage and ZK Proofs Really Be Compatible?After reading the news about Balance providing native custody for @MidnightNetwork , my first reaction was not that the coin price would rise, but rather how the underlying HSM (Hardware Security Module) would need to change. As a coder, I am well aware that the most troublesome aspect of privacy chains is private key management. Midnight's logic generates ZK proofs locally, which means that private keys must participate in the computation. However, institutions like Balance, which are regulated, have their core assets locked in cold storage. This afternoon, I sat in front of my computer and simulated it several times, feeling that the engineering implementation of needing both absolute isolation and real-time computation proof is far more hair-pulling than imagined.

Starting from Balance Custody of Midnight: Can Cold Storage and ZK Proofs Really Be Compatible?

After reading the news about Balance providing native custody for @MidnightNetwork , my first reaction was not that the coin price would rise, but rather how the underlying HSM (Hardware Security Module) would need to change.
As a coder, I am well aware that the most troublesome aspect of privacy chains is private key management. Midnight's logic generates ZK proofs locally, which means that private keys must participate in the computation.
However, institutions like Balance, which are regulated, have their core assets locked in cold storage. This afternoon, I sat in front of my computer and simulated it several times, feeling that the engineering implementation of needing both absolute isolation and real-time computation proof is far more hair-pulling than imagined.
Just finished reading the announcement that Balance will be hosting @MidnightNetwork on the first day of the mainnet launch, and my first reaction is that this matter has been underestimated. It should be noted that Balance is a strictly audited compliance institution, and the fact that they dare to take on $NIGHT for hosting itself indicates that Midnight's 'selective disclosure' mechanism has passed, at least legally, it is not the kind of 'black box' that would trap institutions. I've been thinking today about why institutions value this step so much? Actually, the logic is very straightforward; what large funds fear most is not volatility, but underlying compliance risks. Without this kind of native custody support, the mainnet launch would just be a self-indulgence among insiders, making it difficult for real long-term incremental funds to come in. However, I am also worried about this deep binding; although the entry of a giant like Balance stabilizes the basic market, it also means that Midnight may have to make significant concessions for compliance on its path to decentralization. This kind of 'dancing with shackles' posture indeed tests the team's balancing ability. I feel this is more like a power transfer regarding privacy standards. Current test data shows that the access process for institutions is much smoother than that for ordinary users, which indicates that Midnight's initial focus is to stabilize large clients first. I deduce that in the first few days after the mainnet opens, the release of liquidity will be very restrained. This approach is stable, but the explosive power may not be as exaggerated as everyone thinks. I am optimistic about the current situation to a degree of seventy percent, but the remaining thirty percent depends on whether the actual output logic of DUST will have any friction with the custody institutions once the mainnet is operational. In short, don’t let the four words 'mainnet launch' cloud your judgment; we need to see how these big players are actually laying out their strategies. I will continue to monitor the subsequent node data from Balance. #night $NIGHT
Just finished reading the announcement that Balance will be hosting @MidnightNetwork on the first day of the mainnet launch, and my first reaction is that this matter has been underestimated.

It should be noted that Balance is a strictly audited compliance institution, and the fact that they dare to take on $NIGHT for hosting itself indicates that Midnight's 'selective disclosure' mechanism has passed, at least legally, it is not the kind of 'black box' that would trap institutions.

I've been thinking today about why institutions value this step so much?

Actually, the logic is very straightforward; what large funds fear most is not volatility, but underlying compliance risks.

Without this kind of native custody support, the mainnet launch would just be a self-indulgence among insiders, making it difficult for real long-term incremental funds to come in.

However, I am also worried about this deep binding; although the entry of a giant like Balance stabilizes the basic market, it also means that Midnight may have to make significant concessions for compliance on its path to decentralization. This kind of 'dancing with shackles' posture indeed tests the team's balancing ability.

I feel this is more like a power transfer regarding privacy standards.

Current test data shows that the access process for institutions is much smoother than that for ordinary users, which indicates that Midnight's initial focus is to stabilize large clients first. I deduce that in the first few days after the mainnet opens, the release of liquidity will be very restrained.

This approach is stable, but the explosive power may not be as exaggerated as everyone thinks. I am optimistic about the current situation to a degree of seventy percent, but the remaining thirty percent depends on whether the actual output logic of DUST will have any friction with the custody institutions once the mainnet is operational.

In short, don’t let the four words 'mainnet launch' cloud your judgment; we need to see how these big players are actually laying out their strategies. I will continue to monitor the subsequent node data from Balance.

#night $NIGHT
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