I think the following considerations should be taken into consideration when installing Meituan Kwai: 1. Currently, the stock assets are mainly based on the US stock market, which is not very friendly to friends in Asian time zones. For example, I have been staying up late more frequently in the past month, which is quite tiring and harmful to my health. I even had the idea of moving back to New York, but when I thought it would be more troublesome, I had to endure it for now The slogan that Binance has been promoting recently is "Why go all the way, the Coin Security Department has it". Therefore, making asset replenishment is the basic work. From this perspective, there is still a long way to go, and the assets that need to be replenished are not limited to these four. Secondly, the reference to the A-level university may not only be a roast but also a possible thing to do. After all, our competitors have already gone bankrupt, and once Binance, as the leader, goes bankrupt, the impact will be even greater. Regulation and public opinion may cause some shock, so it is necessary to cautiously test the waters in the early stage. As for the logic behind the Samsung and Hynix ETFs, I don't quite understand it, so I can only make the following guess: From the perspective of a pure cryptocurrency trader, or for me personally, these two targets belong to the behavior of rounding up numbers. I usually like to play with the top few trading volume and huge traffic targets, which makes it easy to fast in and out without any lag. In my impression, ETFs are more suitable for one-sided markets, as volatile market conditions can cause significant wear and tear. In the early years, after playing for a period of time, there was a shadow of a huge loss before leaving the market. However, from the perspective of traditional traders, directly shorting Samsung or Hynix cannot fully hedge against a Hong Kong stock product with daily reset, cost, discount premium, and dynamic leverage. People who truly hold 7709 and 7747, or engage in cross market arbitrage of these two products, may need to trade perpetual contracts that correspond exactly to them. But this belongs to the professional market making and arbitrage demand, which means Binance may intentionally expand towards a more professional and traditional direction. 2. All four products will be listed as targets on the Hong Kong Stock Exchange, and the "overseas listed packaging" product route can be tested uniformly. If this pipeline runs through and wants to access A-share related assets in the future, it is not necessary to directly track Kweichow Moutai, Ningde Times or Changxin Storage. You can first access the A-share ETF listed on the Hong Kong Stock Exchange; Daily leverage and reverse products in Hong Kong stocks; Overseas listed individual Chinese stocks or industry ETFs; A-share index related products. It can be considered a relatively mild curve salvation strategy, which can test regulatory and market reactions when entering, and can be stopped at any time when exiting. Of course, this is my own understanding and may not be correct.