After multiple rounds of grinding and airdrops, I've been collecting quite a bit, but to be honest—most projects just cause a fuss for a while, and in the end, they still can't escape the small circle of the crypto world.

Recently, I noticed an interesting phenomenon: the protocols that truly survive and can settle down are basically solving a long-standing difficult problem—the compliant transfer of funds.

This is no small matter. From on-chain settlement to bank backend integration, what seems like a simple process change actually signifies that projects are moving from a purely speculative ecosystem to real financial applications. Those who can cross this hurdle are often the winners of the next phase. In other words, compliance has become the project's second life line.