More and more institutions are beginning to focus on the application of privacy technology in financial scenarios. Some projects are exploring how to find a balance between confidentiality and audit compliance, providing underlying support for large-scale asset tokenization. This privacy-first public chain design can ensure transaction confidentiality while meeting regulatory transparency requirements, which is crucial for the development of institutional-grade DeFi. Ecosystem tokens, as the core incentive mechanism, not only drive the secure operation of validation nodes but also connect the liquidity of the entire application layer. As more traditional assets are brought on-chain, this infrastructure that combines privacy and compliance is becoming the key to the next stage of financial innovation. If you are interested in the direction of next-generation financial infrastructure, this track is worth a deep dive.