This summary was really fast, impressive! @YeruiZhang Let me add to this question: 14. What if there are no projects left? Binance doesn't lead the narrative (emphasized repeatedly), it only observes and discovers the wealth effect in the market, helps users benefit from VC dividends, finds small but beautiful projects with business models to benefit from growth dividends, is afraid of large VC coins, and isn't interested in narratives. —- The original question was: Given the current listing speed of BN alpha and the current market financing environment (generally, large projects need 12-18 months from financing to token issuance), by Q2 of 2026, there will basically be no "large" projects left. So what will BN list then? What will the trend be? @heyibinance's answer actually contains a lot of information: 1. Small valuations, not many financing rounds, VC endorsements/backing are no longer effective. 2. Launch projects first, then issue tokens. 1. Enable users to participate earlier 2. The project should generate revenue and cash flow after launch 3. Be willing to airdrop tokens (repeated many times) 4. The valuation inflated by VC funding should be determined by secondary market dynamics (back to point 1) 5. "Small and beautiful" is not literally "small and beautiful." "Small" refers to a small valuation, and "beautiful" refers to high revenue. In short, the higher the revenue/FDV ratio, the better. 6. It's almost 2026, so stop believing narratives. 7. Considering the context of talent demand, this "small and beautiful" ideally applies to bnbchain. 8. I can't make this up anymore, so I'll stop here. 😂