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

On April 21, at the Web3 community event “Web3 Dialogues @ HKU – Academia x Industry” held at The University of Hong Kong, Gate Founder and CEO Dr. Han delivered a keynote speech centered on “breaking the Matthew Effect”.

Drawing on 13 years of hands-on experience in the crypto industry, Dr. Han traced his journey from startup beginnings to key strategic decisions and market cycles, and outlined a core view: in crypto, competition has never been fair. The real determinant of success is who establishes and sustains the Matthew Effect earlier.

Unfairness as the Starting Point: Understanding the Real Structure of Competition

In his speech, Dr. Han stated that the essence of business competition lies in the asymmetry of resources and timing, rather than an idealized fair race. “Do not expect fairness in the real world” he emphasized. Starting point, resources, and information gaps together shape the competitive landscape, and the Matthew Effect is continuously amplified within this structure, making the strong stronger, while raising barriers for latecomers.

Reflecting on his own experience, Dr. Han noted that he began his entrepreneurial journey without financial backing or a team, building the initial platform under constrained family conditions, and competing on a completely different starting line compared to peers supported by capital. However, it was precisely this disadvantage that forced more aggressive and efficient strategies.

First-Mover Advantage: Building an “Irreversible” Moat Through Speed

To break through in an unequal environment, Dr. Han proposed a second key principle: establish the Matthew Effect early. He recalled that in the early stage, the platform rapidly listed a large number of long-tail assets, quickly aggregating users and trading volume, and forming a dominant position in niche markets. “While others were still evaluating risks, you were already executing,” he said. This strategy enabled Gate to achieve initial user accumulation despite limited resources, and at one point capture a significant market share.

In his view, once the Matthew Effect is formed, it becomes a self-reinforcing system driven by liquidity, brand, and user networks, evolving into the most effective defensive moat.

Timing and Dynamic Competition: Building and Rebuilding Advantage in Uncertainty

Dr. Han emphasized that the Matthew Effect is not permanently stable once established; it is inherently dynamic. Throughout the platform’s development, it has experienced phases of disruption, but the key lies in whether one can quickly adjust and return to growth, rather than avoiding volatility altogether. He further framed industry competition as a battle for “windows of opportunity,” noting that each major crypto cycle, from the 2017 ICO era, the 2020 DeFi

Summer, to derivatives and meme assets, represents short-lived and highly uncertain structural opportunities. According to him, true leaders are those who act during periods of maximum disagreement, rather than following consensus after it forms.

He also highlighted that with the rapid advancement of AI, technology is reshaping production methods and the pace of competition, further compressing decision-making windows and requiring greater agility in resource allocation and strategic choices to remain competitive across cycles.

Beyond Rules: Maintaining Independent Judgment in Rapid Change

Toward the end of his talk, Dr. Han shifted to individual cognition, stressing the importance of not blindly following existing rules or authority. In his exchange with students, he said, “Never follow your parents or teachers blindly,” clarifying that this is not a rejection of experience or education, but a recognition that in the rapidly evolving context of Web3 and AI, single-source knowledge is no longer sufficient to keep up with change. He argued that rather than relying on predefined answers, the ability to think independently and make fast decisions is more critical. Knowledge can be taught, but understanding the era must be developed individually.

Conclusion

From early entrepreneurship to navigating multiple market cycles, Dr. Han’s sharing reflects a highly non-linear growth path. In his view, the essence of the crypto industry is not “participating in competition”, but being the first to build an advantage within asymmetric structures, surviving through mistakes, and making counter-consensus decisions at key moments. The accumulation of these capabilities ultimately forms the true barrier to surviving across cycles.

About Gate

Gate, founded in 2013 by Dr. Han, is one of the world’s earliest cryptocurrency exchanges. The platform serves over 52 million users with 4,500+ digital assets and pioneered the industry’s first 100% proof-of-reserves. Beyond core trading services, Gate’s ecosystem includes Gate Wallet, Gate Ventures, Gate for AI Agent, and other innovative solutions.

Disclaimer:

This content does not constitute an offer, solicitation, or recommendation. You should always seek independent professional advice before making investment decisions. Gate may restrict or prohibit certain services in specific jurisdictions. For more information, please read the User Agreement.

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