#预测市场发展 After watching CZ's year-end AMA, there are several signals worth tracking. He emphasized that the success of leading projects depends on team execution and long-term commitment, a judgment that has been clearly validated in the prediction market sector—Polymarket's performance during the US election proved this point. The key is that those "hardworking, sleepless" teams do achieve short-term wins, but true differentiation will occur in the next cycle.

I believe there are more opportunities in the stablecoin sector. From version 1.0 as a pure transfer tool, to 1.5 with yield models, now iterating to phase 2.0—yield + liquidity + compliance in one package. The landscape on BNB Chain is very clear; although FDUSD was supported early on, the fiat on-ramp friction is high, and USD1 remains a more native choice. The critical variable is the regulatory environment opening up, which changes the entire game.

Also worth noting is YZ Labs' investment logic—not a race but an "open garden," supported by strong teams, with competition validating real user needs. This means leading projects in different sectors will coexist for a long time until network effects finally kick in. In the short term, focus on team execution; mid-term, product iteration capability; long-term, mission-driven development. Data is still accumulating, and the 2026 World Cup will be the next observation window.