Instead of beating around the bush, it's better to be straightforward—some leading exchanges have long seen through their methods. They don't really focus on independent innovation; they just wait for the market to validate new gameplay, then sit back and reap the benefits. Once a certain model is proven successful, they turn around and have their related projects copy it, saving time and effort.

Look at what they've done: Aster directly copies HypeLiquid's setup, FourMeme forcefully replicates PumpFun's model, and Opinion is even more direct, just taking Polymarket's approach and using it. This isn't innovation incubation; it's standard "copying homework." These projects within their ecosystem are more like photocopiers than innovators.

This approach will either completely dominate the market or be left behind by the times. Relying solely on others' trial and error, and only copying, how much long-term competitiveness can such an ecosystem really have?