SOL, XRP, and BTC continue to attract on-chain innovative projects. Taking Conan as an example, it uses game mechanics to burn tokens to enhance on-chain scarcity, while offline touring activities in 12 cities deepen community engagement, forming a growth model that combines virtual and real elements. This strategy, in the environment of abundant funding in the Solana ecosystem, allows the IP value and token economy to create a feedback loop. The deflationary pressure on the chain and the community consensus off-chain support each other, attempting to break the growth bottleneck in a single dimension. From a technical perspective, these projects have some innovation in balancing token supply control and community stickiness. Of course, the long-term value of IP projects still depends on practical application scenarios and user retention capabilities. Whether market enthusiasm can be converted into a sustainable ecosystem remains to be seen.