If the cryptocurrency industry is compared to a set of teeth, then the path of listing (listing) over these years is like a process of "industry orthodontics." From the chaos of 2017 to the industrialized flow in 2025, each token distribution method in the market essentially represents a correction of the industry's structural deformities and a challenge to the distribution of chips.
In this process, project teams pursue top-tier liquidity, evolving from the early "volume battles" to the now high-cost "bride price model"; exchanges, in order to survive, attract traffic and fees, shifting from the early listing logic to a pricing logic.
How do exchanges, project teams, VCs, and traders destroy each other, love each other, slander each other, and achieve each other?
For you, countless times.
Introduction
Teeth are a very "magical" organ in the human body. Why do I say that? Because teeth are the only in the human body