With expectations of a rebound in the betting market, how do you view the current ICO market? In the past few days, my conversations with everyone in Hong Kong have led me to basically not want to discuss the recent ICO market. However, the secondary market has actually started to warm up. First, projects like backpack and edgeX have had good news, leading to significant increases in their FDV predictions in the prediction market, making it one of the best performances in the past three months. On-chain, Base has definitely performed the best, with the development of AI agents being a great boost, showing that even in such a poor market, Bnkr Clanker Clawnch has rebounded even better than the secondary market within exchanges, although there are still some political issues, the performance has exceeded everyone's expectations. Continuing to wait for an Ethereum glory... I noticed that Aztec is also nearing its TGE, and today it was listed on Binance pre-market, mainly focusing on privacy Layer 2. Regarding Vitalik's comments on Layer 2 this time, he believes that if it is to solve scalability issues, there is no need for Layer 2 to exist, and this argument actually favors the development of dedicated Layer 2. February 11 happens to be the time for the first L1-zkEVM workshop to showcase the new system. It's also worth noting that a16z has released several points worth paying attention to regarding trends in the privacy track. a16z believes that privacy is a moat, and the speed of adoption by institutions will also increase, which has been emphasized many times by major ecosystems and institutions. Currently, Aztec can be said to be the most complete privacy Layer 2, natively supporting private states and execution. Next is programmable privacy: Aztec's Noir language allows developers to write any code related to privacy logic. ...