Breaking down Polymarket from the perspective of exchange-like assets, it can be divided into four parts: - pUSD balance: $475 million - Polymarket TVL: $318 million - Polymarket US holdings: $77.72 million - Polymarket Perp TVL: $31.81 million Polymarket's asset peak occurred during the World Cup, with the total of these four categories once exceeding $1.1 billion. Although there has been a decline compared to the peak, the drop in daily trading volume recently is still within a manageable range, and the retained funds are decent.