From a trader's perspective, the recent market movements have appeared quite rational, with no emotional surges. In fact, this restraint is the part that is seriously underestimated.

Purely from a valuation standpoint, this project is on a similar level to several other zk projects. However, its technical implementation capability is entirely in a different league. Ethereum is limited by the constraints of its repeat execution model, and many complex application scenarios—VIP tiering, strategy judgment, big data analysis—once run on-chain, the costs and delays immediately spiral out of control. This also explains why many DeFi products are forced to adopt simplified designs.

So, what is truly impressive about this project? It’s not hype-driven concept promotion like PPT presentations, but rather that it genuinely solves two core pain points that traders care most about:

- Proof generation cost is about 50% lower than similar solutions.
- Real-time zk proof generation.
- Actual execution efficiency can be improved by approximately 3.4 times.

What does this mean? On-chain logic that previously couldn’t be done, couldn’t be done at scale, or couldn’t be done quickly, can now be directly implemented.

From a funding perspective, more importantly: it is no longer in the stage of “may be used in the future,” but rather an infrastructure that many DeFi projects are already using and cannot do without. Once a project becomes a core dependency, its valuation logic shifts from simple narrative premiums to infrastructure premiums.

Looking further ahead, perpetual exchanges, prediction markets, complex derivatives—these tracks are fundamentally highly dependent on the performance ceiling of infrastructure. When the sector truly heats up, the underlying capabilities will be re-priced, rather than just hype at the application layer.