Looking back at the token performance of a leading public chain ecosystem, the previous high gains were mainly due to the concentrated launch of several popular projects, with high market capitalization driving wealth creation across the entire ecosystem. At that time, other chains were relatively quiet, so market attention and capital focused on this chain, and the expectation was that the enthusiasm would continue after the spot listing. However, at this point in time, launching new projects has a different logic—overall ecosystem enthusiasm has peaked, more competing projects have emerged, and investors' expectations are no longer as aggressive as before. Under this context, whether the launch can meet expectations is indeed questionable. The market environment has changed, and simply replicating past launch strategies may not be effective.