In view of the current biggest pain point curve pattern in the options market, this wave of bulls no longer intends to allocate $JLP as an on-exchange beta attribute asset, but chooses to allocate the MSCI World Index off-exchange as a beta position instead. Because I judge that the MSCI World Index has an advantage over the risk-adjusted return of $JLP over the next 6 months. In addition, the Alpha position after buying back the Fat Penguin NFT (just bought it and earned 1 E, oh yes!) ), will add a part of the allocation of RWA and stablecoin track assets with good ecological niche ($PlUME $CRV $PENDLE). In terms of infra, because there are ICO NFTs of @soon_svm and @megaeth_labs, as well as BearChain's boyco deposit activity positions, they no longer allocate new risk exposures, but choose to choose TGE and other projects such as Buddhism to exit at the right time. Therefore, the barbell cycle strategy of this wave of seasonal market is composed of the MSCI World Index and the Fat Penguin NFT+RWA and the blue chip of the stablecoin track. According to the acceleration experience of the seasonal market in 24Q4, this wave of seasonal market in 25Q2 will also be very short-lived, with a high probability that it will only last a little more than 1 month, so a strict stop-loss line will be set, and once it is reached, it will be decisively stopped and wait for the autumn market opportunity of 25Q4. Above.