On April 21, at the Web3 exchange event "Web3 Dialogues @ HKU - Academia x Industry" held at the University of Hong Kong, Gate founder and CEO Dr. Han delivered a keynote speech on "Breaking the Matthew Effect." Drawing on his 13 years of frontline experience in the cryptocurrency industry, Dr. Han systematically elaborated on a core judgment: in the crypto world, competition has never been fair; what truly determines victory or defeat is who establishes and maintains the "Matthew Effect" earlier.

Unfairness is the Starting Point: Understanding the True Structure of Competition

Dr. Han frankly stated in his speech that the essence of business competition is an asymmetric game of resources and time, rather than an idealized fair competition. "Do not expect fairness in the real world," he emphasized, pointing out that the starting point, resources, and information gaps collectively shape the competitive landscape, while the Matthew Effect is continuously amplified within this structure—where the stronger become stronger, and latecomers face higher barriers.

Using his own experience as an example, Dr. Han mentioned that in the early stages of his startup, he lacked funding and team support, completing the initial platform construction in a family environment, which placed him at a completely different starting point compared to competitors who received capital boosts around the same time. Yet, it was under these adverse conditions that he was forced to adopt more aggressive and efficient strategies.

First-Mover Advantage: Establishing an "Irreversible" Moat with Speed

Regarding how to break through in an unfair environment, Dr. Han proposed a second key principle: establish the Matthew Effect itself as early as possible. He recounted that the platform initially established a dominant advantage in the segmented market by launching a large number of long-tail assets ahead of others, quickly gathering users and trading volume. "While others are still assessing risks, you have already completed your layout," this strategy enabled Gate to complete its first round of user accumulation with limited resources and at one point, hold a high market share.

In his view, once the Matthew Effect is formed, it will create a self-reinforcing mechanism through liquidity, brand, and user networks, becoming the most effective "defensive system."

Seizing Windows and Dynamic Games: Building and Reshaping Competitive Advantages in Uncertainty

Dr. Han pointed out that the Matthew Effect is not sustainable and stable once established; its essence is always in dynamic change. Although the platform experiences periodic shocks during its development, the key lies in whether it can quickly correct its path and return to a growth trajectory, rather than attempting to avoid all fluctuations. On this basis, Dr. Han characterized industry competition as "the struggle for opportunity windows," believing that every leap in the crypto industry, from the 2017 ICO, the 2020 DeFi Summer, to derivatives and meme assets, is essentially a short-lived and highly uncertain structural opportunity. He stated that true leaders often make their layout when divergences are greatest, rather than following up after a consensus is formed.

At the same time, Dr. Han emphasized that with the rapid evolution of AI, technology is reshaping modes of production and competitive rhythms, which further compresses decision-making windows, requiring platforms to be more agile in resource allocation and directional choices, thereby maintaining competitiveness in continually changing industry cycles.

Outside the Rules: Maintaining Independent Judgment in Rapid Change

At the end of his speech, Dr. Han extended the topic to the level of individual cognition, suggesting that one should not blindly follow existing rules and authorities. In discussions with students, he stated, "Do not blindly trust your parents, nor should you blindly trust your teachers," emphasizing that this does not negate experience and education but, under the rapid evolution of Web3 and AI, and the constant reshaping of industry boundaries, single experiences are difficult to adapt to change. Dr. Han believes that compared to relying on existing standard answers, establishing the ability for independent thinking and quick decision-making is more critical: knowledge can be taught, but how to understand this era must be accomplished individually.

Conclusion

From early entrepreneurship to navigating multiple market cycles, Dr. Han's sharing presents a highly nonlinear growth path. In his view, the core of the cryptocurrency industry is not about "participating in competition" but whether one can establish advantages first in an asymmetric structure, survive mistakes, and make counter-consensus decisions at critical moments. The accumulation of these capabilities forms the true barrier to navigating cycles.

About Gate

Founded in 2013, Gate is one of the world's leading cryptocurrency trading platforms, with founder and CEO Dr. Han at the helm. The platform serves over 52 million users and supports trading for more than 4,500 types of cryptocurrency assets. As an industry benchmark, Gate was the first to achieve 100% reserve proof, with an ecosystem covering Gate Wallet, Gate Ventures, Gate for AI Agent, and other diversified services. For more information, please visit:Website |X |Telegram |LinkedIn |Instagram |YouTube

Disclaimer:

This content does not constitute any invitation, solicitation, or recommendation. You should always seek independent professional advice before making any investment decisions. Please note that Gate may restrict or prohibit all or part of its services from restricted regions. Please read the user agreement for more information, link:https://www.gate.com/zh/user-agreement.

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