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Have you ever wondered, in the internet age, what exactly money follows?
The answer from traditional finance is straightforward: it follows licenses, credit ratings, and top institutions in office buildings. The story of Wall Street over the past century is essentially a group of top-tier institutions (Goldman Sachs, Morgan Stanley, etc.) accumulating vast historical experience to become "trust super magnets"—money automatically flows to these places. Want to enter this circle? First pay the sky-high "trust entry fee": spend money to get licenses, climb credit ratings, and cozy up to big players. Trust is monopolized, becoming a scarce commodity, only sold to VIPs. Innovative ideas? Unfortunately, you first have to pay the "protection fee" to vested interests before you can speak.
Blockchain originally aimed to revolutionize this: replace trust fortresses with code, rewrite game rules with transparent mechanisms. Sounds explosive.
But reality slapped us in the face. Over these years of DeFi experimentation, a harsh fact stands before us: tearing down old houses is easy, building new lighthouses is too hard. So what’s the result? Money still runs wild—chasing after some unknown "local dog" narrative, rushing on a single KOL’s call, blindly following gossip spread through ten hands. What kind of financial revolution is this? Clearly, it’s just gambling on a different field.
Only recently, while researching some new projects, did I see a different approach. Some projects are not building new "trust barriers," but are trying to create a whole new "gravity field"—through mechanism design, transparent operation, and user participation, allowing trust to form naturally rather than being imposed from the top down. This is truly an interesting direction.