Gate Founder Dr. Han's Speech at the University of Hong Kong: Breaking the Matthew Effect and Winning in Asymmetric Competition

On April 21st, at the Web3 exchange event "Web3 Dialogues @ HKU - Academia x Industry" held at the University of Hong Kong, Dr. Han, Founder and CEO of Gate, delivered a keynote speech on "Breaking the Matthew Effect." Drawing on his 13 years of frontline experience in the crypto industry, Dr. Han systematically elaborated on a core judgment, starting from the entrepreneurial starting point, key decisions, and industry cycles: in the crypto world, competition is never fair; what truly determines victory is who establishes and defends the "Matthew Effect" earlier.

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

In his speech, Dr. Han stated bluntly that the essence of business competition is an asymmetric game of resources and time, not an idealized fair contest. "Don't expect fairness in the real world," he emphasized, noting that starting points, resources, and information disparities collectively shape the competitive landscape, and the Matthew Effect is continuously amplified within this structure—the strong get stronger, while latecomers face higher barriers.

Using his own experience as an example, Dr. Han mentioned that he had no capital or team support during the initial entrepreneurial phase, building the platform's earliest framework from a home environment, placing him at a completely different starting point compared to competitors backed by capital at the same time. However, it was precisely under these unfavorable conditions that he was forced to adopt more aggressive and efficient strategies.

First-Mover Advantage: Using Speed to Build an "Irreversible" Moat

Addressing 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 recalled that in its early days, the platform rapidly aggregated users and trading volume by being the first to list a large number of long-tail assets, creating an overwhelming advantage in niche markets. "While others were still assessing risks, you had already completed the layout." This strategy enabled Gate to complete its first round of user accumulation despite limited resources and once capture a high market share.

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

Seizing Windows and Dynamic Game Theory: Building and Reshaping Competitive Advantage Amid Uncertainty

Dr. Han pointed out that the Matthew Effect is not permanently stable once established; its nature is always in a state of dynamic change. Although the platform experienced periodic shocks during its development, the key lies in the ability to quickly correct course and return to a growth trajectory, rather than trying to avoid all volatility. Building on this, Dr. Han summarized industry competition as a "contest for opportunity windows," believing that each leap in the crypto industry—from the 2017 ICO boom and the 2020 DeFi Summer to derivatives and meme assets—is essentially a brief and highly uncertain structural opportunity. He stated that true leaders often complete their positioning when disagreement is greatest, not by following the crowd after consensus has formed.

Simultaneously, Dr. Han emphasized that with the rapid evolution of AI, technology is reshaping production methods and the pace of competition, further compressing decision-making windows and requiring platforms to be more agile in resource allocation and strategic direction to maintain competitiveness through continuously changing industry cycles.

Beyond the Rules: Maintaining Independent Judgment Amid Rapid Change

Towards the end of his speech, Dr. Han extended the topic to the level of individual cognition, proposing that one should not blindly follow established rules and authority. In his exchange with students, he said, "Don't blindly believe your parents, and don't blindly believe your teachers," emphasizing that this is not a denial of experience and education, but rather that in the context of the rapid evolution of Web3 and AI and the constant reshaping of industry boundaries, singular experience can hardly adapt to change. Dr. Han believes that compared to relying on existing standard answers, the ability to think independently and make quick decisions is more crucial: knowledge can be taught, but understanding this era requires one's own effort.

Conclusion

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

About Gate

Founded in 2013 by Founder and CEO Dr. Han, Gate is one of the world's leading cryptocurrency trading platforms. The platform serves over 52 million users and supports trading for more than 4,500 crypto assets. As an industry benchmark, Gate was among the first to achieve 100% Proof of Reserves. Its ecosystem encompasses diverse services including Gate Wallet, Gate Ventures, and Gate for AI Agent. To learn more, please visit: Website | X | Telegram | LinkedIn | Instagram | YouTube

Disclaimer:

This content does not constitute any offer, solicitation, or recommendation. You should always seek independent professional advice before making any investment decision. 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 .