The pain points of the current token distribution mechanism cannot be ignored. Behind-the-scenes decision-making often lacks transparency in price setting, and the allocation mechanism operates as a black box, leading to insufficient liquidity and severe imbalance in incentives. The root of these issues lies in the lack of a market-based pricing mechanism. The continuous clearing auction model offers a new approach — through a dynamic, ongoing auction process, it can ensure the authenticity of price discovery while improving liquidity expectations, aligning participant incentives, and ultimately creating a more transparent and efficient token ecosystem.