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Back in 2023, one of the hottest technical discussions in our circle was EIP-4337 account abstraction. At that time, many people had a question: when users can create and control 'smart wallets' directly with email or fingerprints, do we still need traditional EOA wallets like MetaMask? Will connectors like WalletConnect be undermined?
It is now the second half of 2025, and this question already has an answer.
The answer is: not only no, but WalletConnect's position has actually become more important and complex due to the popularity of account abstraction.
Recently, a friend of mine who just entered the space is using a popular smart wallet that supports social recovery, and the experience is smooth. He asked me, 'Look, I don't need a mnemonic phrase at all, nor do I need your QR code connection, is your method already outdated?'

If we compare DeFi to a grand banquet, then for the past few years, most of us have actually been sitting at the 'children's table.'
What is on this table?
There are colorful candies—those Meme coins and Dog projects promising a thousand times return. There are fizzy drinks bubbling with excitement—those fleeting, absurdly high APY mining pools. And there are various novel little toys—a new narrative, new public chains, new protocols every few months.
Everyone is having a great time at this table. We excitedly exchange the latest 'wealth secrets' and share the simple joys of 'run, rush, win.' The rules here are simple: whoever runs fast, whoever is bold, can grab the most candies. As for whether these candies have any nutrition or if they will still be sweet tomorrow, no one cares.

Today we face a more complex multi-chain universe, with over $200 billion of DeFi assets scattered across various chains, like a fragmented puzzle that cannot truly integrate with each other.

It wasn't until the emergence of Mitosis that this issue had a striking solution.
Traditional cross-chain bridges simply and crudely move assets from chain A to chain B, like a porter, without any technical sophistication. But Mitosis is completely different; it proposes the concept of 'ecosystem-native liquidity' (EOL), which may be one of the most noteworthy innovations in the DeFi space this year.

When it comes to high-performance blockchains, the market has seen too many projects promising to 'outperform Ethereum', most of which have ultimately turned into bubbles. However, when Somnia Network demonstrated a processing capacity of over one million transactions per second in the DefNet test in November 2024, we had to reassess this space. This is not just a numbers game; it represents a fundamental breakthrough at the architectural level.

From a technical implementation perspective, what impresses the most about Somnia is not merely the TPS figure, but the systematic thinking behind its solutions. The 'blockchain trilemma' faced by traditional blockchains seems to have found a new resolution in Somnia's multi-stream consensus architecture. Rather than viewing this as a performance enhancement, it is more accurate to see it as a reconstruction of the underlying logic of blockchain.

Data is becoming the most expensive "oil" of this era. Whenever we converse with ChatGPT, seek medical advice, or ask for legal consultation, there is an immense amount of wisdom from countless data creators silently supporting the answers provided by AI. Ironically, the data contributors who provide the "nutrition" for AI models seldom receive the rewards they deserve. This structural injustice not only limits the continuous supply of high-quality data but also becomes a fundamental barrier to the specialized and refined development of AI.

The emergence of OpenLedger is precisely to break this vicious cycle. This project, known as the "AI blockchain," attempts to redefine the logic of data value distribution through the incentive mechanisms of Web3, allowing every data contributor to receive fair returns from the commercialization process of AI.

The year 2025 is undoubtedly a milestone year for the tokenization of real-world assets (RWA). In this era of fierce collision between traditional finance and decentralized finance, Plume Network, with its unique full-stack solution, is becoming an important bridge connecting the two worlds. From innovative breakthroughs in technical architecture to the rapid expansion of the ecosystem, Plume is redefining the standards and possibilities of RWA tokenization.

Looking back at the key moments of Plume Network in 2025, the official launch of the Genesis mainnet on June 5th marked the entry of this blockchain platform focused on RWA financial ecology into a new stage of development. Unlike many projects that remain at the conceptual level, Plume had already deployed $150 million worth of real-world assets at the mainnet launch, providing a solid foundation for the project's long-term development. Even more impressive is that since the mainnet went live, Plume's total locked value (TVL) surged from $44 million to $238 million, an increase of over 441%, which fully reflects the market's recognition of the Plume ecosystem.

In the endless pursuit of higher, faster, and stronger in the blockchain world, Layer2 scaling solutions have become a well-known standard answer. However, while we get used to making choices between Optimistic and ZK Rollups, a special project called Boundless Network is quietly opening a new path, defining itself not as another layer two network, but dedicated to becoming a universally verifiable computing layer for all blockchains. Is this truly a great innovation that takes a different approach, or is it an overly idealized technical narrative?

To understand Boundless's unique positioning, we can make an analogy. Traditional Layer2 is like building elevated auxiliary roads for a congested highway; it can relieve traffic pressure on the main road but is essentially still an extension of the same traffic system. Boundless's idea is more like providing shared flying backpack rental points for the entire city's traffic network. Any application that requires fast, complex calculations, regardless of which chain it is on, can pay to rent this flying backpack, which represents off-chain computing power, and then simply present a flight record to the main chain, that is, a zero-knowledge proof, to prove the legitimacy of its journey.

I have seen too many projects that rise and fall, and there are really not many that can truly impress me and make me feel that 'this is reliable'. But recently, I have been paying attention to Holoworld AI, and it really has something going on that makes me want to share my thoughts with you.
What initially attracted me was what they are trying to do. There are many AI roles and virtual people now, but it always feels like they are all playing their own games, like individual information islands. Holoworld gives me the impression that it wants to connect these islands together, to build a large ecological center where these AI roles are not just a nice-looking 'skin', but can truly interact, learn, and even help us make money.

The crypto world has a problem of always chasing after 'new' things: new public chains, new narratives, new memes.
But the wisdom of investment is often quite the opposite. What can often survive through cycles are those 'old' things that have stood the test of time. There is a powerful logic behind this called the 'Lindy effect.'
This effect is very simple: for something that will not naturally disappear (like a technology or a protocol), the longer it exists, the more its expected lifespan will increase by one day.
In other words, the longer you live, the more likely you are to live longer.

A mature investor must always remain paranoid. Even if you are optimistic about a project, you should regularly examine: is its moat still strong? Are there new and unexpected challengers emerging?
In my opinion, WalletConnect's biggest enemy is the strategic mistakes it may make itself. But looking externally, who are its opponents?
They are not the second-rate projects that want to replicate its code, which pose no threat. The real challengers come from two other dimensions:
The first is the rise of the 'no wallet' experience.

In the traditional world, you might choose a combination. But in the crypto world, we are greedier. Our money possesses the value storage capability of Bitcoin, the earning potential of Ethereum, and the stability and liquidity of USDC, and ideally, it can appear on any chain that needs it at any time, seizing every opportunity.
This sounds like a fantasy. But to me, this is exactly the ultimate direction of the entire industry's evolution - the frictionless flow of value. And to achieve this goal, we must break through the most fundamental 'dimensional walls' in the current crypto world.

We often boast about how many types of tokens we have in our wallets, focusing on how much a certain asset has increased. But we rarely examine our on-chain activities from a more macro and professional perspective: viewing it as a business, a financial entity with its own balance sheet.
Your wallet address is the only identifier for this 'enterprise'. The ETH, stablecoins, and LP Tokens you hold are your 'assets'; the debts you have in lending agreements are your 'liabilities'. Your goal should be to manage this intangible 'balance sheet' well, allowing your 'net worth' to continue growing.

In the past six months, it feels like the entire community has fallen into a craze for 'points'. Since EigenLayer, it seems that overnight, all projects are focused on points, and all users are grinding for points. What we study every day is no longer the fundamentals and technological breakthroughs of the projects, but rather which project's point expectations are higher and how to maximize points with the least amount of money.
To be honest, it feels quite twisted.
On one hand, you cannot deny that this is currently the most effective way to guide users and achieve a cold start. With point expectations, there is TVL, there is activity, and the project can get up and running. But on the other hand, how loyal are users and funds that are purely dependent on 'future airdrop expectations'? When the points are exhausted and the airdrop lands, how many people will still remain? We have seen too many projects that collapsed into chaos after 'mining and selling'. This kind of prosperity built on financial incentives often resembles a mirage.

When it comes to oracles, our imagination seems to be confined to the narrow box of 'price feeding'. How much is BTC, how much is ETH, how much is SOL... We assess the quality of an oracle mainly by how accurate and fast its price reporting is.
This viewpoint isn't entirely wrong, but it's too limited. It's like thinking that the greatest use of the internet at its inception was just sending and receiving emails.
We may be seriously underestimating oracles, especially the ultimate form of new-generation oracles like Pyth Network. Its future role will be far more than just a 'price feeding tool'; it will become the 'real-world API' bridging the physical and digital worlds, serving as the core narrative engine for the next generation of on-chain economies.

We use complex cryptography and consensus algorithms to try to build a cold, purely code-driven utopia, eliminating the dependence on any centralized entity or human credibility.
This is a great ideal, but in the real financial world, it can sometimes seem pale and fragile.
Where is the problem? The problem lies in the fact that the essence of finance is not purely mathematics; it is also sociology. Behind the code, driving the flow of hundreds of billions of dollars, is always something called 'trust.' We trust that the Federal Reserve will not let the dollar lose all its value overnight, and we trust that the New York Stock Exchange's servers will not arbitrarily alter transaction records.

Put together all your identities and assets from online platforms, and imagine, can they piece together a complete 'you'?
You are the hero who slays dragons in the game, but your Steam achievements can't get you a discount on the online course platform. You are an opinion leader on social media, with millions of followers, but this doesn't translate into your credit score in any DeFi protocol. You have accumulated a high reputation in a certain DAO due to your active contributions, but when you enter a new Web3 application, you are still considered a 'new user'.

Every platform is saying, we want to embrace UGC, we want to empower creators. But what’s the reality? In the world of Web2, creators are 'farmed' by the platforms. Your content goes viral, and the platform makes a fortune, while what you receive is the leftover scraps after layers of algorithmic exploitation. Your account, your fans, all your hard work, are built on a centralized ID that could be banned or throttled at any moment.
Web3 is here, and we thought the savior had arrived. Creators are cheering, finally able to own their data, mint their own NFTs, and build their own communities.

If I ask you, what is the most important thing in the current AI competition?
The vast majority of people might blurt out: computing power.
That's right, from media reports to market sentiment, it seems to be sending us a signal - whoever has the most high-end chips can control the future of AI. Computing power has become the 'new oil' of this era, and Nvidia's stock price is the most direct proof.
This view cannot be said to be wrong, but it is likely just the first half of the story.
When the gap in computing power becomes large enough, when the parameter competition of large models hits a ceiling, and when everyone realizes we cannot catch up with the top players on the same path, a new question will emerge and become the focus of competition in the next stage.

An analysis of a blockchain network, if it only stays at the level of technical architecture or token price, will miss its most core vitality - the economic model. The essence of Boundless Network's design lies in its construction of a sophisticated internal digital economy. This economy is driven by clear participants, a well-defined incentive mechanism, and a self-reinforcing growth logic. This article will deeply deconstruct this economic model and explain how its '$ZKC flywheel' aims to achieve a continuous positive cycle of network value through clever game design.

Bitcoin is open, anyone can access the network without permission. Ethereum is open, anyone can deploy contracts and create their own applications. This permissionless 'composability' is the source of the magic of the blockchain world. We call it 'money Legos.'
Now, let's turn our attention to AI.
The AI era we are in today, in my view, is still at a very primitive 'alchemy' stage. Every major company is guarding a huge 'alchemy furnace' (which is their large model) in their secret laboratories. They throw massive amounts of data into it, consume enormous energy, and then hope to refine some kind of panacea 'elixir.'