Core Insights - The article discusses the significant developments in the Hong Kong capital market, highlighting its resurgence as a global IPO leader in 2025, with a total fundraising amount exceeding 280 billion HKD, led by CATL's record IPO of 41 billion HKD [3][12]. Group 1: Hong Kong IPO Market - In 2025, Hong Kong's IPO market saw over 110 listings, raising more than 280 billion HKD, reclaiming its position as the top global IPO fundraising market [12]. - The average daily trading volume in the spot market exceeded 230 billion HKD, marking a 43% year-on-year increase and setting a historical high, showcasing Hong Kong's vitality as an international financial center [3][12]. Group 2: Digital Asset Development - On June 26, 2025, Hong Kong released the "Hong Kong Digital Asset Development Policy Declaration 2.0," aimed at optimizing legal and regulatory frameworks, expanding tokenized product categories, and promoting cross-industry collaboration [13]. - The declaration signifies a shift from regulatory framework construction to deep ecological integration, with the goal of establishing Hong Kong as a trusted, innovation-driven global digital asset hub [13]. - On May 21, 2025, the Hong Kong Legislative Council passed the "Stablecoin Ordinance," which took effect on August 1, making Hong Kong one of the first jurisdictions to establish a comprehensive regulatory framework for stablecoins [14]. Group 3: Future Outlook - The company aims to leverage Hong Kong's unique advantages in financial innovation, focusing on "Web 3.0 and digital asset investment" as a strategic direction for growth [14]. - Plans are in place to build a "Shanghai + Hong Kong" operational network, embracing "Web 3.0" and deepening the "DAO" organizational industry chain, with a vision for sustainable growth over the next 40 years [15].

Core Insights - Web3 is transitioning from a conceptual phase to practical applications, with significant developments expected by 2025, including the implementation of Ethereum's ETHGas mechanism and the management of over $50 billion in assets by global DAOs [1][3]. Group 1: Technological Foundations - Blockchain serves as the backbone of Web3, providing a decentralized trust ledger that eliminates the need for third-party trust through a consensus mechanism [4][5]. - The evolution of blockchain technology has progressed from single chains to multi-chain collaborations, enhancing transaction speeds and enabling asset pricing through the ETHGas mechanism [5]. - Cryptoeconomics acts as the driving force of the ecosystem, incentivizing decentralized operations and governance through designed mechanisms [6]. - Key technological advancements in Web3 focus on privacy protection and self-sovereign identity, with zero-knowledge proofs (ZKP) enabling verification without data disclosure [7]. Group 2: Core Characteristics - Web3 fundamentally shifts data ownership from platforms to users, allowing individuals to control their data through private keys [8][9]. - The value distribution mechanism in Web3 promotes direct compensation for user contributions, moving away from platform monopolization [10]. - Governance in Web3 is decentralized, with DAOs allowing community-driven decision-making through on-chain voting [11]. - The composability of Web3 applications enables innovative combinations of existing protocols, fostering rapid ecosystem growth [12]. Group 3: Ecosystem Applications - Decentralized Finance (DeFi) has emerged as a leading application of Web3, providing financial services without intermediaries and evolving into practical financial tools by 2025 [13][14]. - Non-Fungible Tokens (NFTs) are redefining ownership in digital and physical assets, transitioning from digital art to practical applications across various sectors [15]. - DAOs represent a revolutionary organizational form, facilitating transparent community governance and collaborative decision-making [16]. Group 4: Future Challenges - Web3 faces technical challenges related to scalability and security, with ongoing issues such as smart contract vulnerabilities and the need for improved network performance [17][18]. - Regulatory challenges arise from the inherent conflicts between Web3's decentralized nature and traditional regulatory frameworks, leading to varying global responses [19]. - The application of Web3 technologies remains limited by high user entry barriers and a lack of genuine demand, necessitating the development of user-friendly applications [20].

👀✍️Hasu⚡️🤖 (@hasufl):@GeorgeYourself Lido has no equity-token mismatch and never had:- DAO controls all revenue + treasury, from which pool maintainer cos are paid- all maintainer cos are non-profit foundations and their boards are in addition legally controlled by token vote- IP/frontends belong to DAO as well ...

RT MetaDAO (@MetaDAOProject)Just launch your business on @solana instead. https://t.co/hAevWvPrtK ...

Aave founder charts 'master plan' to trillion-dollar scale as DAO tensions mount, SEC ends 4-year probe https://t.co/5KBAGqCtKj ...

AAVE token holder proposes 'poison pill' for DAO to absorb Aave Labs amid contentious revenue debate https://t.co/yOfPkRJPvs ...

aave labs diverts $200k weekly from cow swap fees plus undisclosed horizon rwa revenues from the dao treasury. token trades 21x earnings but actual p/e is 63-81x after accounting for labs revenue capture. $2.85b market cap prices dao control that doesn't exist. stani buying $10m worth doesn't change the math ...

⚡️ NEW: Aave DAO members clash with Aave Labs over CoW Swap fees, questioning why revenue is going to the company instead of the DAO treasury. https://t.co/W00QVn9uK0 ...

DAOs are retarded because they misunderstand democracythe point of democracy and boards of directors is not to lead or make decisions, it is to keep the leader accountablethey are a fallback in case of failurebut DAOs make them the norm in case of successretardio ...

Dash is a fully-decentralized DAO. Anyone can work for it, they just need to get a budget proposal approved by the network.We have many separate teams working together across continents. When they meet in person, it's like reuniting with long-lost family. 💙Web3Daria (@DariaChernozub):Met @bfoss765 at #GlobalBlockchainShowTalked about the real priority rn: getting partners + builders to ship on #Dash Platform and give solid feedbackPS: nothing beats meeting the ppl actually building @DashPay at Dash Core Gro ...