Elaine Yang, investment director of Waterdrip Capital, said that European and American institutions have invested less in the Ton ecosystem due to compliance and position issues, but Telegram traffic cannot be ignored. Asian institutions pay attention to the Ton ecosystem, but make less shots. Waterdrip Capital started to deploy the Ton ecosystem last year and has more than 6 projects. Elaine Yang advises entrepreneurs to focus on Telegram traffic, which is low cost but needs to screen user quality. She is optimistic about DeFi, transactions and payment projects on Ton, and foresees an increase in Meme assets in Ton ecosystem games.