Web3 was almost completely absent from previous Bund conferences held in Shanghai. This year was different—the conference specifically hosted the "Token Economy: The Dawn of a New Value Interconnection Between Industry and Finance" forum, where RWAs and stablecoins were discussed head-on for the first time on the mainstream fintech stage. This is a significant signal that traditional finance and regulators are gradually accepting and understanding this emerging market. While browsing the exhibition area, I also happened to see a RWA case study for Eagle Travel, which made me particularly proud because Conflux was involved. Just a reminder: the first EAG S1 Market will expire next Tuesday. Remember to withdraw your money in time to enjoy a delicious pig's feet rice. The second phase will also be launched this month, so please stay tuned! The atmosphere at this Bund event was fantastic. Alipay's "touch and go" check-in event for collecting tokens drew long lines at every location, with even many elderly people enjoying the fun. This reminds me of the NFT check-in redemption trend that was popular a few years ago. On-chain NFT records are more durable and permanent, but due to the limited adoption of Web3, most people haven't yet realized their true value and significance. The physical tokens everyone queues up to collect today may be forgotten in a few years, but the on-chain credentials can be activated in another form in the future. RWAs and stablecoins have entered mainstream discourse, but they're still in the exploratory phase. Industry case studies continue to emerge, but the key is moving from "idea" to "deed." The RWA forum was packed and enthusiastic, but the perceived value of Web3 still has a long way to go. However, I'm pleased to see discussions and presentations on RWAs and stablecoins taking place on platforms like Shanghai and the Bund. The road ahead is long, but at least the dawn has arrived.