Asset orientation can be divided into two types: one is to serve the issuance and trading of assets, or even create a new asset category; the other is that protocols/applications should have native asset embeddings or reservations from the beginning of design. Most of the products that make big money in this cycle are centered around the issuance and trading of on chain assets, from which taxes are levied. The most painful part of this cycle is that the so-called protocol governance token has been exposed by Meme, and it is actually worthless. The product cannot keep up with the new asset narrative and is not being bought by the community. Although not every protocol/application must do asset issuance and trading, the vast majority of protocols/applications do not reserve a space for their native tokens at the beginning of design, and still use Web2 thinking to create products without assets. Finally, when the product is relatively mature, a governance token is issued to cash out, and the token is worthless relative to the protocol/application. Except for public chains and exchanges, the vast majority of other protocols/applications cannot find a point of integration with tokens on a native level, which is the real dilemma. Empowering the repurchase or destruction of governance tokens in the later stage is already the current helpless optimal solution.