A few interesting recent insights/facts: 1. The key to making contract trading viable is that Binance doesn't care, as long as the venture capital fund doesn't lose money. 2. Spot trading is currently popular, and its core purpose is to squeeze out spot prices and contracts. Contract trading, on the other hand, is about stabilizing prices and generating turnover, and the former is more suitable for the current situation. 3. Top-tier players buy US stock shells to issue DATs, while 18th-tier players buy Alpha shells to trade contract trading. 4. The key to trading is to leave room for those behind. If you act in an unsightly manner, you won't be able to play. 4. Listing a new Alpha coin is like writing an essay; the key is to make sure you don't take the wrong paper.