A few days ago, I was chatting with a friend about decentralized exchanges (DEXs), and it suddenly struck me that this industry is like a video game. AVNT, that American star team, looks like a pro team, boldly driving the market and charging in from the start. Then there's Aster, adorned with the aura of a cousin's son, like they've been granted VIP privileges, with all the resources and traffic available. Then there's MYX, also making moves on the blockchain, and all three are buzzing with activity.
But despite all the buzz, the underlying logic is quite straightforward: whoever seizes the first turf reaps the first wave of traffic. Just like USDT back then, despite its numerous compliance loopholes, it thrived and ultimately secured its position as the leader. Circle, despite its constant emphasis on compliance, ultimately ended up in second place.
So, in my opinion, the industry's rules are always: the market leads, regulations follow. You either rush in or get rushed; those who hesitate are destined to miss out.
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