同理想维持 Perpdex 的可持续流动性和可防御的市场份额，并非通过被动的 Farming、喊单、刷量来实 现，而是通过主动构建一个极致竞争性的心理环境来达成。 通过精心设计的机制，让交易者们相互对抗，协议的机制应当是用来激发人类最强大的内在驱动力—— 贪婪和不甘心——来创造一个自我延续的交易活动飞轮，从而摆脱对通胀性代币释放的过度依赖，最终 实现真正的市场稳定性。 一、 伟大的博弈：解构交易的零和现实 （来源：吴说） 作者：@agintender 链接：https://x.com/agintender/status/1975136198911029405 初中化学提到要想让吹出来的泡泡更稳定、更持久，就要在在溶剂中加入聚乙烯吡咯烷酮 （Polyvinylpyrrolidone，简称 PVP）——是一种增稠剂和泡沫稳定剂，为泡沫提供结构和持久性，使其 能够维持形态，抵抗外部压力。 交易的本质是一场零和博弈，不是你亏就是我赚，没必要遮遮掩掩，粉饰太平。 Meme：最原始的 PvP 竞技场 Meme 的交易生态是 PvP 原则最纯粹、最不加掩饰的体现。与那些声称拥有潜在效用或现金流的资产不 同，Meme 的价值 ...

Market Trends & Investment Opportunities - The shift from "fair launch" to VC coin investment strategies is accelerating, with cycle times decreasing from over three months to as little as one month or even weeks [1] - Meme coin alpha opportunities are becoming harder to capture, prompting a shift towards pre-TGE opportunities in narratives that are not yet exhausted or disproven [1] - Pre-TGE participation remains a primary battleground, but requires careful project selection and reduced position sizes due to risks like project failures [1] Sector Analysis - Prediction markets, exemplified by Opinion Labs, offer early-stage participation opportunities, but require careful management of transaction costs and differentiation between speculation and investment [1] - Perpdex platforms like $HYPE are showing strength, but valuations should be approached cautiously, potentially benchmarked against HL [1] - Public chain ecosystems are facing pressure from BNBChain, limiting their potential upside until Binance selects projects for support [1] Specific Projects & Ecosystems - Solana's ICM event with Flywheel underperformed expectations, leading to ecosystem decline; Bybit integration offers a potential solution [1] - MMTFinance on SuiNetwork, launching on major exchanges after a security breach, faces uncertainty in driving ecosystem growth [1] - Plume Network's Nest V2, integrating WisdomTree's institutional RWAfi, presents a new avenue for wealth management with 200,000 RWA holders [1] - SeiNetwork's listing on Robinhood and potential Binance Alpha listings may create further ecosystem opportunities [1]