The discussion about token issuance mechanisms in the crypto industry has always been divided. Some industry insiders point out that within a decentralized framework, it is indeed difficult to directly prevent anyone from issuing tokens, but this does not mean there is no way out. Instead of being passive, the industry should collaborate to promote higher technical thresholds and economic costs for token issuance.

The current problem is very obvious: one-click token issuance tools are everywhere, and the cost is so low that it can be almost ignored, resulting in a continuous emergence of worthless tokens with no practical application. These projects flood the blockchain world, and besides creating noise and risks, they serve little constructive purpose. Even more problematic is that these junk tokens drain the already tight market liquidity.

The counterfeit season has yet to arrive, and people habitually blame macroeconomics, but they overlook another factor—thousands of meaningless small coins are dividing the limited pool of funds. This phenomenon reflects that the entire industry is still in a relatively primitive stage. After more than ten years of development, it still lacks clear industry standards and development directions, with each entity acting independently and growing wildly.

This chaos hides both risks and opportunities. The key still depends on choices. Picking the right track and project, and sticking to it, can realize wealth appreciation; choosing the wrong direction, the more persistent you are, the more you will be trapped on the wrong path. In the current market, projects with real application scenarios and technical foundations still have a chance to succeed.