#加密生态动态追踪 There's an interesting perspective — many people view platform tokens as purely decentralized protocol tokens, but perhaps this way of thinking needs to be adjusted. Take these types of platform tokens, for example; they are essentially rights certificates and operational fuel for a major exchange ecosystem, combining dual identities. In other words, investing in such tokens is fundamentally a bet on whether that exchange can operate stably and grow sustainably within a compliant framework. They are not independent protocol tokens; instead, they are more like a wager on the health and long-term viability of the entire trading ecosystem. This difference in understanding largely determines investors' perception of risk.