I believe that if we look forward 12 to 14 months, especially after the next year's US presidential election, if Trump is elected and appoints a new SEC chairman, there may be a clearer Token policy and regulatory sandbox around June 2025. With a clear policy framework, smart lawyers and project party can design compliant ways to capture value. If all goes well, in the next 24 months, the user acquisition model, monetization model, and the final mile conversion of Web3 will be improved. I believe that by then, a number of very good secondary projects will emerge in the market.