AH啊豪

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FOGO's decision of 'not wanting money' made me decide to heavily invest

To be honest, I have been in this circle for almost six years.
Six years is neither long nor short, but it is enough for me to see how many projects rise to great heights and how they collapse.
Over the years, I have seen too many standard operations before project launches, without exception, they all desperately talk about how many millions the institution has raised and how many tens of millions the pre-sale amount is, wishing to blow the FDV to the sky.

Then on the first day of the launch, they hand over all the chips to the market to settle.
Next comes the long decline until the project party cashes out and the community is left in chaos.
So when I came across an announcement from FOGO's official account one day in January, saying that they would directly cancel the originally planned $20 million pre-sale amount.

FOGO

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VANRY is no longer the 'game chain' I knew last year — discussing AI transformation and my honest views

I remember very clearly that when I first came into contact with Vanar at the beginning of 2025, most people still called it 'that game currency switched from Virtua.' To be honest, I didn't pay much attention at that time, thinking it was just another metaverse project with nothing new. But over the past year, especially in the last three months, I feel that the changes in VANRY have become significant enough to sit down and have a serious discussion about it.

What is the biggest change? I think it is positioning.
Vanar now defines itself as 'AI native Layer 1,' not the kind of project that casually issues a press release claiming to integrate ChatGPT and calls itself AI. They have genuinely integrated AI into the underlying architecture. I didn't quite understand why everyone is working on Layer 1 and why VANRY would be chosen over others until I carefully looked at their architecture called Vanar Stack, which helped me understand a bit.

·

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Bullish

I find that some people tend to measure a project's worth by the amount of funding it has received, but personally, I care more about the actions taken after funding.

FOGO went live on the mainnet on January 15th, and Binance provided a full suite of services including spot, futures, wealth management, and flash exchange on the same day. This isn’t too surprising, but what I find interesting is that on January 28th, Binance TH added a pair of trading pairs FOGO/USDC and FOGO/USDT separately.

Many people may not be familiar with Binance TH, which is a compliant licensed exchange co-founded by Binance and Thailand's Gulf Group, specifically serving the Thai market. My understanding is that this is not simply "adding another liquidity pool", but rather the opening up of compliant fiat currency channels.

Thai users can directly purchase FOGO with local fiat currency without having to go around in a big circle with USDT. For a public chain that focuses on high-frequency trading and institutional liquidity, the importance of compliant deposit channels sometimes outweighs technical parameters.

Additionally, I checked the timeline, and during the third round of the presale, the subscription multiple for FOGO was 40.8 times, raising over 300,000 BNB. What does this indicate? It indicates that the true big players didn’t rush in to grab chips at the moment of listing; rather, those who had access to the presale quotas were already pouring real money in a month earlier.

So my current strategy is very simple: I don't get hung up on a few cents price difference, but focus more on whether there are new applications migrating into the ecosystem each month and whether there are new trading pairs being launched. As long as the development team continues to iterate and the exchange keeps launching new trading pairs, I believe this position is not a hot potato.
#fogo $FOGO @fogo

BNB

FOGO

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Bullish

Talking about the practicality transformation of VANRY at the crossroads

A few days ago, I was watching a discussion where someone referred to the current stage of VANRY as a crossroads. I think this metaphor is quite fitting.

In the past, when we bought VANRY, we were betting on the gaming sector taking off and the users of the Virtua metaverse coming in. But now it’s different, Vanar has started pushing a subscription model for AI tools, and if you want to use Neutron to compress data or Kayon to run inferences, you have to pay with VANRY.

I believe this is the truly noteworthy change. Because once this model takes off, VANRY will no longer just be a gas fee token but a consumable for production tools. The demand is no longer speculative; it is genuinely being utilized.

Some might say that the coin price hasn’t risen yet. My view is that the value release brought by practicality is often lagging. People have become accustomed to the past model where partnerships are announced today and prices surge tomorrow, but VANRY is taking a different path this time. For instance, their global leaderboard activity rewards real interactions with over 6 million VANRY, while those who manipulate data are directly kicked out. I think this kind of community filtering, although slow, results in people who truly recognize this project.

My long-term view on VANRY is actually quite simple. I don’t need it to double overnight; I would rather see an ecosystem where there are genuinely developers writing code, users paying gas fees, and AI agents running tasks. The current Vanar Chain is moving in this direction.
#vanar $VANRY @Vanarchain

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The market has dropped like this, but I find myself unable to sleep; let's discuss the real logic behind the panic.

To be honest, my portfolio interface hasn't looked good this past week.
VANRY is following the market downwards, and just a few days ago it even fell below the $0.006 mark. There are many lamentations in the community, and some people are starting to doubt whether their initial judgments were wrong.
But interestingly, I find that I'm sleeping more soundly than before.
This may sound a bit counterintuitive, but I personally feel that the most dangerous time for a project is when everyone is mindlessly shouting and the price is rising rapidly, but you can't clearly explain why it is worth this much. And now, at this time, the bubble has been squeezed out, the storytellers have exited, and what remains is truly worth holding onto for the long term.

·

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Bullish

Behind the community's warmth and coldness, I see the reality and noise!

To be honest, I spend every day in various communities of VANRY, and I really feel quite divided. On one hand, official reports say that by 2026, the community will continue to grow, with users exceeding one million, thousands of developers, and the number of DApps doubling.
On the other hand, I see analyses indicating that Twitter followers are decreasing and social media popularity is declining. This contradiction between 'data heat' and 'subjective cold' feels particularly interesting to me.

I believe this precisely indicates that the VANRY community is entering a phase of 'deflating the bubble.' The early atmosphere of simply speculating on coins and spamming calls has faded, which is actually a good thing. Now, those who remain in the community to engage in deep discussions are more like me, genuinely concerned about how to use its AI tools and how the gaming ecosystem is being realized.
What people discuss is no longer just about tomorrow's price fluctuations, but rather how Neutron storage compresses files, or how a newly launched game returns asset ownership to players. The quality of these discussions is much higher.

My view is that the health of a project's community cannot be measured solely by the number of followers and retweets.
It is also essential to see whether developers are continuously submitting code and whether applications within the ecosystem are genuinely being used. From this perspective, I feel that VANRY's foundation is becoming more solid.
As the noise fades, what remains are those who truly want to build.
As a long-term observer, I actually prefer to see the current state, even though it is not as lively, every step feels quite substantial.

$VANRY
#vanar
@Vanarchain

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I made a real cross-border remittance on the Plasma chain

Last week, I did something I had never dared to imagine before.
I used USDT0 on the Plasma chain to send money to a friend far away in the Philippines.
The amount isn't large, just 200 dollars.

He received Philippine pesos on that side, directly credited to his local bank card.
The entire process from when I initiated the transfer to when he received the SMS notification took less than 90 seconds.
What is the service fee?
Zero.
Yes, not even a penny in Gas fees was charged.
At that moment, I was actually a bit dazed.
Because I was too familiar with the traditional cross-border remittance process.
In the past, when I made overseas remittances, I had to go to the bank counter, fill out a bunch of forms, and was asked all sorts of questions by the teller, saying that the purpose of the remittance was for living expenses.

What story will unfold when the ancient Plasma route meets the mature ZK technology? Let me tell you in detail! Recently, people in the circle have started talking about Plasma again, which is quite interesting. You should know that when Rollup was all the rage two years ago, Plasma was almost categorized into "blockchain archaeology." How come in 2026, this trend has come back? I pondered and realized that the key is that zero-knowledge proof (ZK) technology has truly matured. In my view, the current Layer2 landscape resembles a fork in the road. On the Rollup side, they continue to deepen their roots in the security belly of the Ethereum mainnet, steadily capturing those institutional businesses that are extremely sensitive to compliance and involve huge single transaction amounts. On the other side, the new generation of Plasma solutions represented by XPL has turned its focus towards a broader area that was previously constrained by costs: everyday payments of stablecoins and small, high-frequency transactions. I think this positioning shift is very clever, typical of a "Tian Ji's horse racing." The reason Plasma can regain attention boils down to two words: cost. No matter how optimized Rollup is, it has to place transaction data on the main chain, and the cost of "data availability" is rigid, like a "weight tax" on a transaction, always having a lower limit. But Plasma's idea is that most transaction data is processed off-chain, only submitting a highly simplified state proof on-chain. Data suggests that solutions like INTMAX have each on-chain transaction occupying only about 5 bytes. Just think about this cost difference; for payment scenarios that pursue "smooth and imperceptible" experiences, it’s practically a dimensionality reduction strike. So this also explains why the XPL ecosystem is so determined to bet on stablecoins. It doesn’t aim to be a large and comprehensive "world computer," but aspires to become "the high-speed express lane for stablecoins." In the micro-payment field, such extreme focus has instead become the strongest barrier. My view is that once the technical bottleneck is broken, the value of a solution will ultimately return to the actual problem it solves. The ability to transfer value at nearly zero cost gives this "actual problem" significant weight. $XPL #plasma @Plasma

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Bullish

What story will unfold when the ancient Plasma route meets the mature ZK technology? Let me tell you in detail!

Recently, people in the circle have started talking about Plasma again, which is quite interesting.
You should know that when Rollup was all the rage two years ago, Plasma was almost categorized into "blockchain archaeology."
How come in 2026, this trend has come back?
I pondered and realized that the key is that zero-knowledge proof (ZK) technology has truly matured.

In my view, the current Layer2 landscape resembles a fork in the road. On the Rollup side, they continue to deepen their roots in the security belly of the Ethereum mainnet, steadily capturing those institutional businesses that are extremely sensitive to compliance and involve huge single transaction amounts. On the other side, the new generation of Plasma solutions represented by XPL has turned its focus towards a broader area that was previously constrained by costs: everyday payments of stablecoins and small, high-frequency transactions. I think this positioning shift is very clever, typical of a "Tian Ji's horse racing."

The reason Plasma can regain attention boils down to two words: cost. No matter how optimized Rollup is, it has to place transaction data on the main chain, and the cost of "data availability" is rigid, like a "weight tax" on a transaction, always having a lower limit. But Plasma's idea is that most transaction data is processed off-chain, only submitting a highly simplified state proof on-chain. Data suggests that solutions like INTMAX have each on-chain transaction occupying only about 5 bytes. Just think about this cost difference; for payment scenarios that pursue "smooth and imperceptible" experiences, it’s practically a dimensionality reduction strike.

So this also explains why the XPL ecosystem is so determined to bet on stablecoins. It doesn’t aim to be a large and comprehensive "world computer," but aspires to become "the high-speed express lane for stablecoins." In the micro-payment field, such extreme focus has instead become the strongest barrier. My view is that once the technical bottleneck is broken, the value of a solution will ultimately return to the actual problem it solves. The ability to transfer value at nearly zero cost gives this "actual problem" significant weight.

$XPL
#plasma
@Plasma

On the compliant wire, how does XPL dance its steps? Let me briefly chat with everyone about it! The longer I play with Crypto, the more I feel that the word 'compliance' has transformed from a vague background noise into an unavoidable main theme. Especially for projects like XPL that revolve around stablecoin payments, the regulatory attitude can almost directly determine its survival space. Recently, I took a closer look at XPL's actions in this regard, and I feel they are not just holding firm but are executing a rather systematic 'compliance combo'. The environment is indeed challenging. For example, in the European Union, with the implementation of the MiCA framework, there are very strict restrictions on 'unauthorized stablecoins' like USDT, directly compressing the circulation space. Although there are positive voices like the 'GENIUS Act' in the United States, there are still many unclear aspects regarding specific regulatory details, such as the requirements from the Office of the Comptroller of the Currency (OCC). This inconsistent global regulatory pace has directly led to trading restrictions for XPL in certain regions, affecting its liquidity. So how is Plasma responding? I think their strategy is quite layered. First is the management of 'entry barriers', which implements strict KYC (Know Your Customer) from the very beginning of the public sale, excluding participants from high-risk regulatory areas. Secondly, they have 'built-in compliance tools' at the protocol level that directly support geolocation-based transaction blocking and monitoring. They also collaborate with professional on-chain compliance analysis companies like Chainalysis to automatically screen risky transactions and even entrust asset custody to licensed institutions like Anchorage, allowing potential institutional investors to feel more secure. What’s even more interesting is the clever design of its economic model. The permanent burning of fees combined with a decreasing inflation mechanism objectively encourages long-term holding and weakens the short-term speculative nature of the tokens. The team has consistently emphasized the utility positioning of the 'zero-fee highway' rather than directly promising investment returns, which I think is a cautious way to reduce the regulatory risk of being classified as 'securities'. Of course, the road to compliance is long and variable, but this combination strategy from user access, protocol functionality to economic design at least shows that the team is not evading but trying to find a sustainable path within the current regulatory framework. $XPL #plasma @Plasma

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Bullish

On the compliant wire, how does XPL dance its steps? Let me briefly chat with everyone about it!

The longer I play with Crypto, the more I feel that the word 'compliance' has transformed from a vague background noise into an unavoidable main theme. Especially for projects like XPL that revolve around stablecoin payments, the regulatory attitude can almost directly determine its survival space. Recently, I took a closer look at XPL's actions in this regard, and I feel they are not just holding firm but are executing a rather systematic 'compliance combo'.

The environment is indeed challenging. For example, in the European Union, with the implementation of the MiCA framework, there are very strict restrictions on 'unauthorized stablecoins' like USDT, directly compressing the circulation space. Although there are positive voices like the 'GENIUS Act' in the United States, there are still many unclear aspects regarding specific regulatory details, such as the requirements from the Office of the Comptroller of the Currency (OCC). This inconsistent global regulatory pace has directly led to trading restrictions for XPL in certain regions, affecting its liquidity.

So how is Plasma responding? I think their strategy is quite layered. First is the management of 'entry barriers', which implements strict KYC (Know Your Customer) from the very beginning of the public sale, excluding participants from high-risk regulatory areas.
Secondly, they have 'built-in compliance tools' at the protocol level that directly support geolocation-based transaction blocking and monitoring. They also collaborate with professional on-chain compliance analysis companies like Chainalysis to automatically screen risky transactions and even entrust asset custody to licensed institutions like Anchorage, allowing potential institutional investors to feel more secure.

What’s even more interesting is the clever design of its economic model. The permanent burning of fees combined with a decreasing inflation mechanism objectively encourages long-term holding and weakens the short-term speculative nature of the tokens. The team has consistently emphasized the utility positioning of the 'zero-fee highway' rather than directly promising investment returns, which I think is a cautious way to reduce the regulatory risk of being classified as 'securities'.
Of course, the road to compliance is long and variable, but this combination strategy from user access, protocol functionality to economic design at least shows that the team is not evading but trying to find a sustainable path within the current regulatory framework.

$XPL
#plasma
@Plasma

·

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Bullish

When AI tools start charging, I understand the real demand!

Recently, Vanar Chain has a new update that I think many people have underestimated: starting from the first quarter of 2026, users will need to use VANRY tokens to pay for the subscription fees of premium AI tools.
At first glance, this is just another consumption scenario. But in my eyes, this might be the most important piece of the puzzle in the VANRY economic model.

Why do I value this so much? Think about it, previously, the consumption of VANRY mainly involved paying those almost negligible Gas fees. How much real demand can this create?
But AI subscription services are completely different. For example, if you want to use the Neutron service that can compress files 500 times, or if you want the Kayon AI engine to help you analyze on-chain contracts, you will have to spend VANRY. This directly ties the value of the token to the core and most attractive productivity tools within the ecosystem.

I think this design is very clever. It does not encourage speculation but incentivizes 'usage'. The more you use, the more VANRY you consume, which will directly create deflationary pressure.
This is fundamentally different from those models that rely purely on staking for interest to lock up assets. One relies on expectations of future prices, while the other is rooted in the current real usage demand.

I believe that only when a token is used extensively and continuously to purchase actual services, its value base can be considered truly solid. Therefore, I am particularly focused on the adoption data of these AI tools in the coming months; this can tell me more about the vitality of the ecosystem than price charts.

$VANRY
#vanar
@Vanar

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Discussing the 'inflation' design of XPL

I've actually wanted to talk about the token model of XPL for a while.
Honestly, when I first saw the total amount of XPL at 100 billion, I was taken aback.

100 billion? This can't be a joke.
Later, I took the time to go through its economic model document, and slowly understood the logic behind this design.
It's quite different from many public chain tokens I've seen before.
XPL's positioning is not as a 'store of value', and it's not meant for you to buy and hold for appreciation.
Its core function is to act as the Gas token and ecological incentive tool on the Plasma chain.
This means it must have sufficient circulation, rather than being locked in cold wallets.

ETH

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The 'Sun Tzu' of Token Economic Models - I Finally Understand What VANRY Is Trying to Do

I've been talking about VANRY for so long, but there's a question I haven't fully addressed.
This is its token economic model.
It's not that I don't want to talk, but I just didn't fully understand it before. There are too many projects in the market with their so-called 'deflation models,' which are really just buying a few thousand dollars' worth of coins under the guise of transaction fee buybacks, throwing them into a black hole address, then posting a flyer and letting the community celebrate for three days while on the fourth day the price continues to decline.
I've seen this kind of trick too many times; it makes people numb.
During this time, I revisited Vanar's white paper and economic model, and with its AI subscription service set to launch in Q1, I suddenly felt like, 'So you were waiting here all along.'

The trader is going to be unemployed! Ah Hao discovered a heavyweight news! The BNB chain has launched the first on-chain autonomous trading agent training framework, which is Calculus's launch of the first trading personality assessment system DBTI on the BNB chain! In simple terms, DBTI (Decentralized Behavioral Trading Index) is built by Calculus on the BNB chain. It summarizes 16 behavioral prototypes by reverse learning from the on-chain footprints of top traders, automatically matching trader strategies that fit the user's trading style after the user completes the trading style preference test, achieving automated profitability. What's even more interesting is that there is an opportunity to receive $CALCULUS rewards after the personality assessment. The steps are as follows: 1️⃣ Link: https://www.calculus.finance 2️⃣ Invitation code: NHIM 3️⃣ After completing the DBTI assessment, get your exclusive personality. 4️⃣ Bind with top crypto traders, and automatically join the matching battle team, with subsequent PK between teams, offering reward opportunities to all participants! Although we created AI, it is undeniable that AI is stronger than the human brain in many ways. Human capabilities have limitations, especially when tired, anxious, or enthusiastic. However, the 'digital twin' technology provided by Calculus can completely replicate our trading habits and patterns to the AI trading agent, and combined with matched top trader strategies, I think it's really great, and I am also in the process of testing and familiarizing myself. Suddenly, a novel idea came to mind. What kind of trading personality do the top pyramid figures CZ (@CZ ) and the first sister (@heyi ) belong to? Guess the correct user to jointly receive a 0.5% $CALCULUS token reward. According to #DBTI, 16 behavioral prototype characteristics are summarized. I guess @CZ is DBTV = BNB/BTC long-termism and is an active and decisive doer! According to #DBTI, 16 behavioral prototype characteristics are summarized. I guess @heyi is CBNS = Guardian of platform trust and security, doing things steadily and maintaining a balanced rhythm! I look forward to feedback from both great leaders on whether what I said is correct? 😂 #DBTI #Calculus #美国零售数据逊预期

·

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The trader is going to be unemployed!
Ah Hao discovered a heavyweight news!

The BNB chain has launched the first on-chain autonomous trading agent training framework, which is Calculus's launch of the first trading personality assessment system DBTI on the BNB chain!

In simple terms, DBTI (Decentralized Behavioral Trading Index) is built by Calculus on the BNB chain. It summarizes 16 behavioral prototypes by reverse learning from the on-chain footprints of top traders, automatically matching trader strategies that fit the user's trading style after the user completes the trading style preference test, achieving automated profitability.

What's even more interesting is that there is an opportunity to receive $CALCULUS rewards after the personality assessment.

The steps are as follows:

1️⃣ Link: https://www.calculus.finance

2️⃣ Invitation code: NHIM

3️⃣ After completing the DBTI assessment, get your exclusive personality.

4️⃣ Bind with top crypto traders, and automatically join the matching battle team, with subsequent PK between teams, offering reward opportunities to all participants!

Although we created AI, it is undeniable that AI is stronger than the human brain in many ways. Human capabilities have limitations, especially when tired, anxious, or enthusiastic. However, the 'digital twin' technology provided by Calculus can completely replicate our trading habits and patterns to the AI trading agent, and combined with matched top trader strategies, I think it's really great, and I am also in the process of testing and familiarizing myself.

Suddenly, a novel idea came to mind. What kind of trading personality do the top pyramid figures CZ (@CZ ) and the first sister (@Yi He ) belong to?

Guess the correct user to jointly receive a 0.5% $CALCULUS token reward.

According to #DBTI, 16 behavioral prototype characteristics are summarized. I guess @CZ is DBTV = BNB/BTC long-termism and is an active and decisive doer!

According to #DBTI, 16 behavioral prototype characteristics are summarized. I guess @Yi He is CBNS = Guardian of platform trust and security, doing things steadily and maintaining a balanced rhythm!

I look forward to feedback from both great leaders on whether what I said is correct? 😂

#DBTI #Calculus #美国零售数据逊预期

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My Perspective on XPL: How Far Can a Public Chain That Perfectly Focuses on One 'Axis' Go?

Hello everyone, recently my attention has been captivated by a public chain called Plasma, especially its native token XPL.
I am not an expert; I am just an ordinary participant who enjoys exploring blockchain technology. Today, I want to share my personal views on this project.
I think the uniqueness of this project lies in its 'axis' being charming. Unlike other public chains that want to embrace all applications in the world, it has focused on one point from the very beginning: to become a stablecoin, especially USDT, the best payment and settlement layer.

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VANRY Observation Notes: Ecology and Collaboration - How Does It Turn 'Cool Technology' into 'Really Useful'?

In the previous article, I broke down the technical core of Vanar Chain as an AI-native chain. The technology is cool, but I believe everyone, like me, is more concerned with one question: what is the use of these technologies? Who is using them? Today, I will talk about the ecological landscape that Vanar is building and its remarkable collaborations. In my view, this is key to judging the long-term value of VANRY.
Application main channel: starting from advantageous tracks
Vanar did not choose to launch an all-out attack but instead very wisely began to dig deep into the areas he is most familiar with: gaming, the metaverse, and the resulting digital entertainment and brand interaction. This choice is very pragmatic, as these fields naturally require handling complex digital assets and user interactions, with a strong demand for low-cost and high-speed chains.

As we enter 2026, there is a highly discussed topic in everyone's conversations about XPL, and that is the widespread unlocking of tokens that will occur around mid-year, which has even raised some concerns. According to information from multiple sources, approximately 2.5 billion XPL, which is 25% of the total supply, will have its lock-up period end around July 2026. This is undoubtedly an important observation window, and I would like to candidly share my views. First, we must face the risks. Such a large amount of tokens suddenly entering a potentially circulating state, especially with uncertain market absorption capacity, will indeed create significant psychological and actual selling pressure. Historically, many projects have experienced severe price fluctuations at similar points in time. This is a reality that all XPL holders or followers cannot ignore. However, there is another side to the story. The long-term value of a project ultimately depends on whether it can create real demand and applications to absorb this supply. The XPL team is clearly aware of this and has deployed some hedging mechanisms. For example, a staking delegation system aimed at encouraging lock-up is planned to launch in the first quarter. If the staking rewards are attractive enough to encourage some tokens to shift from the circulating market to staking contracts, it will directly alleviate the selling pressure. A deeper form of “hedging,” I believe, lies in the development of the ecosystem itself. The unlocking event acts as a “stress test,” questioning the ecosystem: have you truly created enough value? The good news is that we see the ecosystem actively laying out its plans: focusing on cross-border payments and supply chain finance, and it is said that they have reached a cooperation intention with Southeast Asian trade enterprises; on the technical side, zero-knowledge proof privacy protocols and Layer 2 scaling solutions are also on the way, aiming to reduce Gas fees by another 60%. If these pathways of “ecosystem feedback” can be successful, bringing in real users and real transaction volumes, then the demand side for the tokens will strengthen, balancing the supply shock brought by the unlocking. My view is that we should not simply fear the event of “unlocking” itself, but should pay closer attention to whether the team's response strategies are effective before and after the unlocking event, and more importantly — whether the growth rate of the ecosystem can outpace the release rate of the tokens. If we pass smoothly, the foundation will be stronger; otherwise, it will expose weaknesses. $XPL #plasma @Plasma

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Bullish

As we enter 2026, there is a highly discussed topic in everyone's conversations about XPL, and that is the widespread unlocking of tokens that will occur around mid-year, which has even raised some concerns. According to information from multiple sources, approximately 2.5 billion XPL, which is 25% of the total supply, will have its lock-up period end around July 2026.
This is undoubtedly an important observation window, and I would like to candidly share my views.

First, we must face the risks. Such a large amount of tokens suddenly entering a potentially circulating state, especially with uncertain market absorption capacity, will indeed create significant psychological and actual selling pressure. Historically, many projects have experienced severe price fluctuations at similar points in time. This is a reality that all XPL holders or followers cannot ignore.

However, there is another side to the story. The long-term value of a project ultimately depends on whether it can create real demand and applications to absorb this supply. The XPL team is clearly aware of this and has deployed some hedging mechanisms. For example, a staking delegation system aimed at encouraging lock-up is planned to launch in the first quarter. If the staking rewards are attractive enough to encourage some tokens to shift from the circulating market to staking contracts, it will directly alleviate the selling pressure.

A deeper form of “hedging,” I believe, lies in the development of the ecosystem itself. The unlocking event acts as a “stress test,” questioning the ecosystem: have you truly created enough value? The good news is that we see the ecosystem actively laying out its plans: focusing on cross-border payments and supply chain finance, and it is said that they have reached a cooperation intention with Southeast Asian trade enterprises; on the technical side, zero-knowledge proof privacy protocols and Layer 2 scaling solutions are also on the way, aiming to reduce Gas fees by another 60%. If these pathways of “ecosystem feedback” can be successful, bringing in real users and real transaction volumes, then the demand side for the tokens will strengthen, balancing the supply shock brought by the unlocking.

My view is that we should not simply fear the event of “unlocking” itself, but should pay closer attention to whether the team's response strategies are effective before and after the unlocking event, and more importantly — whether the growth rate of the ecosystem can outpace the release rate of the tokens.
If we pass smoothly, the foundation will be stronger; otherwise, it will expose weaknesses.
$XPL
#plasma
@Plasma

·

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Bullish

In partnership with a giant that transacts $2.3 trillion annually, I see a new story.

The collaboration between Vanar and WorldPay initially seemed like a typical brand collaboration to me.
However, as I delved deeper, I realized I was simplifying things.
WorldPay is not a small player; it processes transactions exceeding $2.3 trillion each year.
What they are collaborating on is something called "Agentic Payments."

What does this specifically mean?
To put it simply, traditional blockchain payments are like a vending machine; you execute a command, and it completes a transfer.
What Vanar aims to do is allow AI agents to execute a series of complex payment operations that are memory-enabled and logical on the chain. For instance, an AI managing a company's finances can analyze payment paths, remember previous transactions, and automatically execute the optimal settlement plan, all of which is natively completed on the Vanar chain.

I believe the significance of this collaboration lies in Vanar transforming its "AI native" characteristic from a technical concept into a solution that traditional financial giants can understand and utilize.
It no longer tells stories only to gamers but also begins to tell stories to traditional institutions managing trillions in capital.

Although it will take time for this to materialize, it undoubtedly greatly expands the imaginative space and application scenarios for VANRY in the future.

If more institutions adopt this intelligent payment framework based on Vanar in the future, then the demand for VANRY as network fuel and settlement medium could see growth that we currently cannot estimate.

$VANRY
#vanar
@Vanarchain

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VANRY Observation Notes: Market, Data, and Future—Finding Anchors in Volatility

In the first two articles, we discussed the technology and ecology of Vanar Chain, which helped clarify what it 'wants to do' and 'how it is doing it.' But as a token in a real market, how has VANRY performed? In the current market conditions, how should we view its future? Today, I will discuss this more practical topic by combining some market data, community sentiment, and my personal analysis.
Current Market Overview: Price, Data, and Sentiment
Price and Recent Performance:
Entering February 2026, VANRY's price is around $0.0066 to $0.007, in a state of short-term consolidation. Looking back, it had a nearly 20% weekly increase in January 2026, when the market's focus was on its brand upgrade's new narrative and the resurgence of community enthusiasm. However, like the entire crypto market, it faced correction pressure afterward. From its historical peak, it remains a considerable distance from the approximately $0.382 reached in March 2024. This reminds us that it is still a highly volatile asset.

·

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From Cold Start to Ecological Explosion: What I Saw in My Six Months Tracking XPL

Time flies, it's been more than half a year since I started paying attention to XPL's public sale last summer.
During this period, I felt like an observer, watching the Plasma chain grow from nothing, completing a series of actions such as mainnet launch, token issuance, and ecological cold start.
Today, I want to share a few points I've observed during this time, which are purely personal and non-professional records.
First, what impressed me was the "good start" of its mainnet launch. On September 25 last year, the day the mainnet went live, it is said that over $2 billion in stablecoins were introduced as initial liquidity backing. This number is quite exaggerated and directly set a record for the TVL of new chains going live. Soon after, top exchanges like Binance and Bitfinex listed XPL for trading immediately. Such a level of resource tilt and industry recognition is rare in my impression. Of course, this also caused the price of the XPL token to experience significant volatility in the early stages, with a considerable increase within a few days of going live. At that time, I was wondering whether this was a temporary craze or the starting point of long-term value?