The most lively event at the KBW Korea offline conference wasn't the main forum, but two dark horses: $IP and AVNT. One is a public blockchain, the other a perp dex. Today, they released a series of explosive news: collaborations with "Solo Leveling," Pinkfong, and the girl group illit. The atmosphere was even more magical—the audience was filled with elderly people, making the side event the center of attention. Even the organizers were overshadowed. But while it's lively, don't be fooled by appearances. IP, in particular, may appear to be booming with traffic, but in reality, its FDV is as high as tens of billions of dollars, with a circulation rate of less than one-third. This makes it a ticking time bomb waiting to be unleashed. The venue was packed, but the prices were inflated. The more lively it was, the more dangerous it became.