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Data availability is a key challenge for Layer 2 solutions, involving how block producers publish complete transaction data for verification. L2 faces security and cost issues, and the current mainstream strategy is to publish data on Ethereum, but the trend of separating the data availability layer from Ethereum has sparked controversy. Despite the challenges, innovative solutions continue to emerge.

This article analyzes the technical architecture of Hyperliquid, including the structure of cross-chain bridges contracts, withdrawal processes, and potential risks, such as theft risks when validators are compromised. It also discusses the interaction mechanism between HyperEVM and the HyperL1 dual-chain, emphasizing the challenges they may face in order processing and developer considerations.

Sui Bridge, as the native cross-chain bridge of the Sui ecosystem, enhances the interoperability between Sui and other blockchains, supporting secure and efficient asset and data transfers. It employs a locking and minting mechanism to ensure the security of cross-chain operations. In the future, it will expand to include more assets and functionalities, promoting more complex cross-chain interoperability.

This article compares the two stock on-chain models of xStocks and Robinhood. xStocks offers greater openness and composability, allowing users to trade freely, while Robinhood emphasizes Compliance, restricting user fund transfers. Both have their pros and cons, reflecting different approaches to the integration of Blockchain and TradFi. In the future, they may gradually merge as technology and regulation develop.

The compliance assessment of the judicial disposal of Virtual Money is becoming increasingly important, and legal opinions play a key role in ensuring the legality of the disposal and drop legal risks. The core content of a legal opinion includes project introduction, regulatory assessment, and analysis of the disposal company model. Lawyers provide professional support through research and communication with judicial authorities, which helps to enhance judicial credibility and prevent financial risks.

Dual-token model: Resolving the classic contradiction of using and holding Crypto Assets.
In the blockchain field, does the dual-token model have more advantages compared to the single-token model? Although mainstream blockchain networks are unlikely to change their token models in the short term, this question is increasingly becoming a research topic of interest for blockchain developers.
The traditional single-token model undoubtedly has its advantages, such as high liquidity and simple structure. However, only a dual-token model can truly resolve the long-standing economic contradictions in blockchain: the actual use of the network hinders the growth of the network.
The root of the problem
Essentially, all blockchains share a common goal: to reliably record transactions, store economic value, and promote network development. Although the methods of implementation vary, their developmental directions are fundamentally aligned.
Currently, the vast majority of blockchain ecosystems rely on a single token, which reflects the project value while serving as a store of value (similar to stocks), and for transactions.

Blockchain Revolutionizes the Asset World: The Tokenization Wave Sweeps the Global Market
The development of blockchain technology is driving an asset revolution known as "the great tokenization." This transformation is reshaping the landscape of trillion-dollar markets, changing people's perceptions of asset ownership, trading, and value creation. Imagine being able to own a small piece of space above Manhattan and trade it, or investing in a Picasso masterpiece for just $50, or even being able to purchase government bonds with a touch of your smartphone screen. These seemingly unbelievable scenarios have now become a reality.
Tokenization makes many previously inaccessible markets within reach. Real estate ownership is fragmented, allowing investors to purchase shares of global properties for far less than the price of a dinner. Government securities, traditionally limited to large institutional investors, are also moving to Blockchain, opening the door for ordinary investors. From tangible assets like energy and land to intangible assets like intellectual property.

The encryption investment journey of a well-known venture capital firm in Silicon Valley
Andreessen Horowitz (abbreviated as a16z) was founded by Marc Andreessen and Ben Horowitz in 2009. With successful investments in several well-known internet companies, it quickly rose to become one of the top venture capital firms in Silicon Valley. Currently, a16z manages assets exceeding $35 billion, with investments spanning various sectors including artificial intelligence, biotechnology, consumer, encryption, enterprise operations, and fintech.
Entering the encryption field
a16z began investing in the encryption field as early as 2013. At that time, many traditional venture capitalists were skeptical about this emerging sector, but a16z led a $25 million Series B funding round for a well-known cryptocurrency trading platform and subsequently made multiple follow-on investments. This decision not only brought substantial returns to a16z but also laid the foundation for

Is Hyperliquid's valuation reasonable? A quick overview of its product status and economic model.
1. Introduction
Hyperliquid is one of the biggest highlights in the recent crypto market, aside from AI and Memes. Its strategy of not accepting VC investment, allocating 70% of tokens to the community, and returning all revenue to platform users has garnered widespread attention in the market. The practice of directly repurchasing HYPE with its revenue has caused HYPE's circulating market cap to rapidly surpass UNI, placing it among the top 25 cryptocurrencies, while also driving its platform business data to surge across the board.
This article aims to describe the current development status of Hyperliquid, analyze its economic model, and discuss the current valuation of HYPE, trying to answer the question "Is HYPE really expensive?"
It should be noted that this article only represents the author's preliminary thoughts at the time of publication, which may change in the future. The viewpoints presented in the text are quite strong.

TProtocol V2 aims to fill the gap in the market for government bond tokens, maximizing the returns of government bonds for ordinary users through an institutional collateral lending model, without the need for KYC. Its design enhances capital efficiency, has the potential to surpass the typical government bond yields, and isolates risks through an independent capital pool.

The U Card, as an emerging payment method, is popular in the crypto world, but it faces legal risks when promoted in mainland China, including policy compliance, issuing institution review, personal information protection, and associated crime risks. Promoters must be cautious to prevent legal liabilities.

Recently, although there are bullish expectations in the crypto market, the alt season has not yet arrived. Factors such as Bitcoin's dominant position, tightening liquidity, oversupply of alts, and declining participation from retail investors have suppressed the upward momentum of altcoins. Historical experience shows that the alt season may emerge after Bitcoin stabilizes, and investors need to remain patient and focus on projects with strong fundamentals.

Global payment giants join the ranks of Crypto Assets.
Recently, a globally renowned payment company announced a significant breakthrough: successfully completing transaction settlements in its payment system using the USDC stablecoin backed by the US dollar through the Ethereum network. This move connects traditional fiat currency with the digital encryption currency world and is of milestone significance.
After the announcement, the price of Bitcoin surged rapidly, breaking through the $59,000 mark, with an increase of over 8%.
The payment company stated that it has launched a pilot project with a certain Crypto Assets payment platform and plans to open this feature to more partners later this year.
According to media reports, this payment giant has integrated crypto applications into its network, enabling 61 million customers to make payments using Crypto Assets. This marks an important step in the company's "network of networks" strategy, aimed at enhancing various forms of fund flows.
By leveraging global influence and partnerships

In the second quarter of 2023, investment in encryption and Blockchain venture capital continued to decline, with total investment dropping to $2.32 billion, a new low for the cycle. Although the number of transactions saw a slight rebound, early-stage transactions still dominated, and U.S. encryption startups continued to attract the largest investments. The overall venture capital environment is harsh, and the lack of new funds forces entrepreneurs to follow sustainable business models.

Telegram mini-program applications are facing difficulties, with data metrics declining across the board.
Recently, the data of Telegram bots and mini-programs has shown a significant downward trend. The Telegram mini-programs, which once became the focus of the blockchain field due to the explosive growth of Clicker games, are now facing severe challenges.
Although the excessive reliance on the support strategies of Clicker games brought a surge in users and data in the short term, it also buried the hidden danger of ecological imbalance. As users' novelty wears off, the issues of homogeneity and lack of depth in Clicker games gradually become apparent, and the entire ecosystem begins to suffer backlash.
Currently, it is necessary to deeply reflect on strategic mistakes and seek new directions that can lead the ecosystem to the next stage of development.
1. Monthly active users have significantly decreased.
In the past month, continuous monitoring has been conducted on 820 Telegram projects. From October 1 to 1

The article analyzes the dominance of Bitcoin and the potential for the upcoming "alt season," pointing out that the current market may face a peak in Bitcoin's dominance due to liquidity and macroeconomic factors, with altcoins and Meme coins gradually gaining attention. The article advises investors to adopt a cautious strategy while following potential risks.

The upgrade of BitVM technology is driving new developments in the Bitcoin ecosystem, and the launch of the Finality Bridge Testnet enhances the scalability and programmability of Bitcoin. The new system utilizes smart contracts and zk-SNARKs to improve security, reduce trust requirements, and enable users to participate in DeFi activities without changing Bitcoin itself. This technology provides new impetus for the future development of Bitcoin.