What about those once popular narratives? On July 6th, market news reported that Toncoin has partnered with the United Arab Emirates to provide a 10-year golden visa to TON stakers. On July 7th, the UAE officially issued a statement stating that reports circulating on certain websites and social media platforms about the UAE granting golden visas to digital currency investors were false news. The issuance of golden visas is based on clear and officially approved frameworks and standards, which do not include digital currency investors. The UAE Virtual Asset Regulatory Authority (VARA) also clarified that TON company has not obtained a license or regulation from VARA. The slap in the face came so quickly that it didn't even give the market FOMO time. It was this erroneous news that made me pay attention again to the once glorious TON ecosystem. The TON ecosystem experienced explosive growth in mid-2024, with Toncoin's market value exceeding $25 billion at one point, ranking among the top ten in the market. Hamster Kombat attracts 300 million users and has over 1.657 million daily active addresses. DeFi TVL grew by 5500%, and the market value of small game assets exceeded $500 million. However, as the heat passed, the TON ecosystem entered a long cooling off period. New wallets, active addresses, and DEX trading volume have fallen back to early 2024 levels. Hamster Kombat experiences a monthly loss of over 90%. At present, DeFi TVL is only $142 million, ranking 33rd on DeFillama. The difficulties faced by TON are mainly as follows: Insufficient user stickiness: Tap to Earn has attracted a large number of hairdressers, but when the trend and token premium pass, hairdressers will immediately shift their positions. The TON ecosystem does not have enough applications and scenarios to attract Web3 users to retain. High TVM threshold: FunC language restricts Ethereum developers from participating, and many mature and high-quality applications are blocked from the TON ecosystem. Weak DeFi: TVL is limited and unable to form a large-scale DeFi ecosystem, which is also hindered by technological barriers that hinder the inflow of funds and DeFi apps. Of course, a momentary silence does not mean a failure of narrative. On the contrary, the 1 billion Telegram users behind the TON ecosystem are a vast wilderness that urgently needs to be developed for the entire Web3 world. TON is also accumulating strength in a more long-term direction: by supporting infrastructure construction such as TAC, it is building an on chain super entrance that serves Web2 users. In addition, the core that caught my attention is the investment participation of Hack VC. If we were to say which VC is more worthy of our attention as hairdressers in 2024, the answer would undoubtedly be Hack VC. @TacBuild is the only public chain built specifically to bring complete EVM functionality, deep liquidity, and powerful DeFi infrastructure directly to TON and Telegram's vast native user base. Developers can use Solidity and familiar tools to build EVM applications that can access Telegram's 1 billion users. TAC's main network is about to go live and is currently being launched in stages. Now it is the DevMainnet stage, and blue chip DeFi protocols such as Curve, Morpho, and Euler have also collaborated. More than 20+applications are preparing for integration into the mainnet. The Summoning, TAC's main online liquidity guidance activity, has attracted great interest from leading funds, liquidity providers, and infrastructure participants in the industry. Prior to its public launch on the mainnet, TAC had already locked in over $700 million worth of TVL. For now, TAC has provided a comprehensive solution to the challenges faced by TON, but it is uncertain whether the Ton ecosystem will return to our vision in the future? At this point, looking at the news at the beginning, I couldn't help but think about it. TON has always been a master at manipulating traffic, and at this point, this somewhat comical mistake may be attracting market attention and creating momentum for the next steps. I hope the TON ecosystem can give the market a strong counterattack, and I will pay close attention to it.