On April 27, Alliance DAO co-founder Imran Khan wrote on Platform X: "A significant but often ignored competition is quietly unfolding in the field of automated market makers (AMMs)-the competition to become token issuance platforms (token launchpads) The de facto infrastructure. This includes providing differentiated bonding curves, anti-sniping mechanisms, and a granular fee generation framework. If it can seize this market, AMM will build a considerable moat and generate considerable fee income. However, it remains to be seen whether the de facto infrastructure that becomes a token issuance platform will provide lasting long-term advantages. AMM will likely design mechanisms to bind these distribution platforms for as long as possible."