This article takes the Hyperliquid vault loss of $4 million as a starting point to explore the security, benefits and risk control issues of DEX liquidity pools. DEX platforms need to focus on the design of risk control mechanisms, and through strict smart contract audits, reasonable strategy design and dynamic risk management, ensure the security of user assets and achieve sustainable revenue growth.

As the global technology industry accelerates its move toward intelligence, a cutting-edge forum focusing on the integration of decentralized physical infrastructure networks (DePIN) and artificial intelligence (AI) - "DePIN + AI Converge" was successfully held in Hong Kong on February 18. The event was co-hosted by IoTeX and Hashkey, attracting more than 800 registrations, and more than 250 industry leaders, technology developers, investors, and people from all walks of life who are interested in emerging technology trends attended the event to discuss the huge potential and future opportunities brought by the combination of DePIN and AI.

In the financial market, retail investors are often seen as the "buyers" of institutional investors when they withdraw liquidity - when institutions need to sell on a large scale, retail investors often passively take over assets with falling prices. This asymmetry is further amplified in the field of cryptocurrency, and the market maker mechanism and dark pool trading of centralized exchanges (CEX) exacerbate this information gap.

In the financial market, retail investors are often seen as the "buyers" of institutional investors when they withdraw liquidity - when institutions need to sell on a large scale, retail investors often passively take over assets with falling prices. This asymmetry is further amplified in the field of cryptocurrency, and the market maker mechanism and dark pool trading of centralized exchanges (CEX) exacerbate this information gap.

"Concepts emerge in a bull market." With the bull market starting last November and BTC breaking through 100,000, combined with technological progress, more and more AI+Web3 concepts are overwhelming. The rapid iteration of related concepts and the huge imagination have made sleep a luxury. Recently, my good friend Renée released a video about DeSci, where hot money is pouring in. Is it the beginning of a revolution and a breakthrough, or is it just another smoke and mirrors? This gave me the motivation to explain DePIN, DeSci and DeFAI to everyone in the simplest language possible.