The logic behind choosing them at the time included: ETH Pectra upgrade application layer paradigm innovation potential, project business data rise expectations, and TokenLiquidity situation.

After Trump's election victory, the entire encryption market system environment will be reset, and the logic of exploring on-chain Alpha must keep up with the times.

First of all, encryption nihilism will be a thing of the past, and the pure PVP IQ tax on the chain, everyone has paid enough SOL as tuition fees, it is time to stop loss and exit.

Second, the market no longer tolerates 'infra maxi'. With the maturity of Raas service providers and the popularity of Cosmos SDK technology, the cost of building Web3 infrastructure has become very low, and the era of 'fat protocol' has come to an end. All applications with users and real income will be re-done with the paradigm of AppChain. The distribution of industry interests and discourse power is accelerating towards product and operation.

Third, Compliance will become one of the main themes in the next 4 years. 'Code is law' should not continue to be an excuse for phishing teams, North Korean Hackers, and scammers. Large offshore exchanges may be required to independently split BTC mining, venture capital, market-making, fund custody, and wealth management businesses. Compliance exchanges will be loosened and combined with TradFi to quickly give rise to new scenarios such as PayFI, RWA, STO, Compliance stablecoins, Compliance OTC, etc.

Fourth, at this stage, AI Agents are only office assistants without autonomous consciousness. We need to wait for OpenAI to redefine AI Agents in 25 years. One thing to follow is whether the bond between Worldcoin and OpenAI will become more prominent after a 180-degree flip in the US regulatory environment, and whether Sam Altman will openly discuss Worldcoin.

Fifth, the revitalization of old application scenarios. Opensea 2.0 will be restructured using the paradigm of App Chain, and the new era of Non-fungible Tokens will return to the essence of consumer goods, appearing more in the form of Web3 game character props and digital companion dolls.

In short, the PVP era has come to an end, and a new era of value investment has just begun.