Two projects in the privacy finance field may appear to belong to blockchain infrastructure on the surface, but their underlying competitiveness is worlds apart. From technical barriers and market fundamentals to risk tolerance, one is a seasoned professional refined over years, while the other is merely a follower in the cross-chain lending track.

Let's first look at the technical level. The former focuses on the niche track of privacy finance, launched as early as 2018, and has built a unique technological moat in the field of financial privacy compliance over the past eight years. It not only has a clear technological deployment direction but also has the endorsement and support of the Ethereum ecosystem. In contrast, the latter is just a cross-chain lending protocol on BSC, a track already dominated by veteran projects like Compound and Aave. Many emerging projects are flooding in, none of which have anything particularly unique, and user stickiness is hardly a concern. In simple terms, it's "a newcomer queuing in homogeneous competition."

Next, look at the chip distribution. The former has a circulating supply of 487 million out of a total of 500 million, with a circulation rate approaching 98%. The concentration of holdings is only 5.46%, indicating a very dispersed chip distribution, making it difficult for large holders to single-handedly dump the price. The current price is $0.05884, with a safety margin of over 5 times from the historical low of $0.011, providing bottom support even in a bear market. The historical high of $1.1657 proves that the project itself has room for recovery. The latter, although with a total supply of 1 billion, has a very different situation in terms of circulation and distribution, with a significantly higher risk index.

From an investment perspective, choosing a more solid value foundation is always much safer than following homogeneous projects. With technical accumulation, dispersed chips, and historical support, this is the real safety cushion.