The key to an exchange going public is not the window period or fundraising pace, but the depth of compliance construction. Gate founder recently pointed out in a sharing session that long-term institutional improvement and licensing layout are the decisive factors. In recent years, Gate has promoted regulatory benchmarking and compliance certification in multiple regions worldwide, aiming to leave room for future strategic choices—whether it’s an IPO or other business expansion, infrastructure first is the essential answer. This steady and pragmatic approach reflects the rational understanding of market cycles by leading exchanges: rather than chasing the trend, it’s better to deepen compliance and accumulate trust.