In the past two years, the domestic demand for Token calls has skyrocketed, witnessing a surge of over a thousand times. By March 2026, the average daily call volume has soared past 140 trillion. This exponential growth has paved the way for the emergence of the Token factory model, a system that converts computing power into directly callable model inference capabilities and bills based on Token consumption. At present, the domestic Token market is primarily dominated by three types of participants: leading cloud service providers, AI infrastructure startups focused on Token supply, and enterprises shifting from traditional computing infrastructure to Token services. Each of these players capitalizes on its unique resource strengths to carve out a niche in this burgeoning field. However, the Token market is a battleground characterized by fierce competition and escalating price wars. The majority of companies operating in this space are still grappling to turn a profit. Hence, enhancing computing efficiency and striking a balance between costs and revenues have emerged as pressing challenges that the industry must tackle urgently.