Core Insights - The article discusses a high-yield investment scheme that combines static high returns with a dynamic multi-level marketing structure, resembling a pyramid scheme [1][4]. Static High Returns - The scheme offers three locking periods: 1 day, 7 days, and 15 days, with an annualized return rate reaching up to 780%. For instance, an investment of 10,000 USDT can yield a 30% return over 15 days [1][2]. Dynamic Multi-Level Marketing - Participants can earn commissions by recruiting others, with a commission structure that allows for earnings up to 20 levels deep, starting at 30% for the first level and decreasing to 1% for the last [1][4]. Fund Pool Mechanism - All user investments are pooled into a single fund, where the "returns" for earlier investors are paid from the principal of new investors. The operator has the ability to secretly control and transfer assets from this fund [4][6]. Sustainability Concerns - The platform must ensure that the inflow of new funds consistently exceeds the withdrawal rate. If the user base reaches a critical point (e.g., 100,000 users), the inability to cover interest payments could lead to a collapse of the funding chain [6]. Compliance Recommendations - To transition to a compliant platform, it is essential to abandon the "fund pool + recruitment" model and shift towards genuine services and transparent profit-sharing [9][28]. Alternative Business Models - Suggested models include: - **Technical Service Fee Model (B2B)**: Charging businesses for on-chain verification services [10]. - **Transaction Fee Model**: Charging a fee for asset exchange services without token issuance [13]. - **Regional Agency System**: Implementing a single-level agency system with a deposit requirement and service fee based on actual services provided [15]. Legal and Financial Guidelines - The article outlines legal boundaries, such as avoiding multi-level recruitment beyond three levels and not promising guaranteed returns exceeding 24% annually [23][24]. - It emphasizes that platforms should not handle user funds directly and all transactions must be conducted on-chain [24]. Conclusion - The article concludes that while schemes like "Jiuhuan" can generate short-term profits, they are destined to fail. Sustainable blockchain business models should focus on using technology to solve real-world problems and generating long-term value through services [28][29].

Group 1: OBOOK Holdings - OBOOK Holdings, a Taiwanese commercial technology company, directly listed on NASDAQ on October 16, 2023 [1] - The company operates a blockchain service platform and registered 4.7 million shares for existing shareholders to sell, without raising new capital [1] - OBOOK provides business solutions across various industries through its e-commerce, hotel, and payment products, operating under the OwlTing Group name [1] - The stock is traded under the ticker symbol OWLS, and D. Boral Capital serves as the financial advisor for the listing [1] Group 2: Aptera Motors - Aptera Motors, a developer of solar electric vehicles, also directly listed on NASDAQ on October 16, 2023 [2] - The company registered approximately 32 million shares for existing shareholders to sell, without raising new capital [2] - Aptera Motors focuses on developing and manufacturing efficient solar electric vehicles, specifically a three-wheeled two-seater model named Aptera, which has not yet begun production or generated revenue [3] - The stock is traded under the ticker symbol SEV, with Northland Securities acting as the financial advisor for the listing [3]

Core Insights - Mantle, a blockchain platform supported by Bybit, is launching a Tokenization-as-a-Service platform aimed at integrating traditional finance with blockchain technology [1][3] - The real-world asset (RWA) market is currently valued at $26 billion, with projections of reaching trillions by 2030, indicating significant growth potential [3] - World Liberty Financial plans to deploy its $2 billion stablecoin on the Mantle network, enhancing its ecosystem [2] Company Developments - Mantle is expanding its services beyond being an Ethereum layer-2 solution, embedding itself within Bybit's trading platform and developing a fintech application to connect crypto with traditional finance [3][4] - The native token of Mantle (MNT) has reached an all-time high of $2, reflecting a 4.5% increase in the last 24 hours and a 73% gain over the past month, indicating strong market performance [4] Industry Trends - The demand for compliant infrastructure and liquidity access in the RWA sector is increasing, with institutions eager to bring assets on-chain [3] - The collaboration between Mantle and Bybit aims to create a comprehensive bridge from traditional finance (TradFi) to decentralized finance (DeFi), positioning RWAs at the center of this transition [4]

Core Viewpoint - The company is expanding its business into blockchain-based services, focusing on Runtime-as-a-Service (RaaS) and customized hardware and security modules, prioritizing security, compliance, and scalability in its technology architecture [1][3]. Group 1: Management Changes - Tomasz Wojewoda, Raza Zaidi, and Zhao Yan have been appointed as executive directors, effective September 19, 2025 [1]. Group 2: New Business Development - The company plans to offer comprehensive on-chain services, including asset rights confirmation, issuance, settlement, custody, and risk control, targeting traditional industry clients such as golf clubs and real estate projects [1]. - The new business will integrate hardware and software to create a unified operational system, enhancing on-chain capabilities to support various business scenarios [1]. Group 3: Technical Implementation - The company intends to utilize different blockchain networks based on business scenario characteristics to ensure efficient and stable system support [2]. - For high-frequency, low-transaction applications like membership management and reward point settlement, the company plans to use the Scroll network, which is a zkEVM Layer 2 compatible with Ethereum, known for its scalability and security [2]. Group 4: Market Demand and Opportunities - As digitalization progresses, traditional enterprises are increasingly seeking on-chain solutions for rights confirmation, settlement, and auditable distribution, despite facing significant technical and resource barriers [3]. - By leveraging advanced technologies like Scroll and the expertise of the newly appointed directors, the company aims to lower the barriers to blockchain adoption for clients, facilitating digital transformation across multiple industries and enhancing recurring revenue stability [3].

香港交易及結算所有限公司及香港聯合交易所有限公司對本公佈之內容概不負責，對其準確 性或完整性亦不發表任何聲明，並明確表示，概不對因本公佈全部或任何部份內容而產生或 因倚賴該等內容而引致之任何損失承擔任何責任。 ETERNITY INVESTMENT LIMITED 永 恒 策 略 投 資 有 限 公 司 * （ 於 百 慕 達 註 冊 成 立 之 有 限 公 司 ） （股份代號：764） 委任執行董事 及最新業務資料 委任執行董事 Eternity Investment Limited（永恒策略投資有限公司*）（「本公司」，連同其附屬公司，統稱「本 集團」）董事（「董事」）會（「董事會」）欣然宣佈，Tomasz Wojewoda先生（「Wojewoda先生」）、 Raza Zaidi先生（「Zaidi先生」）及趙豔女士（「趙女士」）已獲委任為本公司執行董事，自二零二 五年九月十九日起生效。 Wojewoda先生、Zaidi先生及趙女士之詳細履歷如下： Wojewoda先生 Wojewoda先生，51歲，是Web3領域具備全球視野與實戰經驗的戰略型高管，曾在幣安幣 、 Scroll Foundation（「Sc ...

Group 1 - Kepler Group, a Hong Kong-based insurance brokerage, has filed for an IPO in the US, aiming to raise up to $7 million [2] - The company plans to issue 1.4 million shares at a price range of $4 to $6, which would give it a fully diluted market value of approximately $107 million [2] - Kepler generates 95% of its revenue from life insurance, while also offering general insurance and post-sale services [2] Group 2 - OBOOK Holdings, operating under the OwlTing brand, has submitted a direct listing application to the SEC for Nasdaq, with existing shareholders selling ordinary shares [3][4] - The company did not disclose the number of shares, reference price, or expected listing date, and will not raise new capital through this listing [3] - OBOOK reported $8 million in revenue for the 12 months ending December 31, 2024, and plans to list under the ticker symbol OWLS [4]

Group 1 - The core point of the article is that Okex Cloud Chain (01499.HK) shares closed at HKD 0.58, reflecting a significant increase of 26.09% [1]

Group 1: Business Overview - The main business of Hangzhou Wanlin Shulian Technology Service Co., Ltd. focuses on blockchain application services, with blockchain traceability and certification services accounting for approximately 80% of total revenue [2] - In 2024, Wanlin Shulian is projected to achieve operating revenue of 9,338.69 million and a net profit of 2,323.57 million, indicating steady growth in business scale and profitability [2] Group 2: New Cultural Tourism Sector - The company began its cultural tourism business in 2019, primarily focusing on hotel scene layout and space creation [3] - As of the end of 2022, the company strategically invested in Shanghai Xinzhi Yuan Information Technology Co., Ltd., which operates six hotels under the brand Huai Xi Hotel, achieving an average occupancy rate of 70%-80% through Douyin's new media operations [3] Group 3: Main Business Development and Accounts Receivable - The company's main business includes landscape design services and landscape greening engineering contracting, with a gradual decline in engineering contracting business scale due to industry factors [3] - The company has established a receivables collection team to improve accounts receivable recovery through communication with owners and legal actions, with expectations for improved recovery this year [3] Group 4: Future Business Strategy - The company plans to focus on expanding its design business while positioning the cultural tourism sector as its second main business, supported by an established investment fund to seek advantageous projects for sustainable development [3]