Want to see how major exchanges create differentiated competitiveness? Why not focus more on contract varieties first. Add contracts for several popular cryptocurrencies, let the market choose, and see if a breakout hit trading pair can emerge, then follow up with spot trading. Isn't this process more scientific? Otherwise, contracts are just that, spot trading is just that, and users have no options. It feels like we're currently locked in—Chinese users come, contracts can only be like this, spot trading can only be like this, and overall there's a lack of innovative ideas. Competition between exchanges should be reflected in product diversity and market insights, rather than monotonous routines.