What is the business logic behind the zero-fee trading promise? There is no standard answer to this question — precisely highlighting the enormous imaginative space in the market.

In decentralized systems, the imagination of business models is fully unleashed. Just as spot trading gave rise to the CEX wave, the next generation of trading platforms is breaking free from traditional profit models. No longer relying solely on transaction fees, new exchanges are exploring diversified revenue channels such as token economics, liquidity incentives, and ecosystem income.

Zero fees are no longer just a gimmick but a foundational infrastructure for competition in the new era. When fees are no longer an adversary between trading parties, the entire ecosystem can attract more participants. This model overturns the logic of traditional exchanges — shifting revenue sources from extracting intermediary fees to participating in ecosystem growth. That’s why some remain optimistic about this direction.