Since last year’s Bitcoin boom, “a convenient way of financing” began to flourish, but due to lack of supervision, “a convenient way of financing” has become a tool for bankers to cut leek. After the announcement of 94, it was found to be irregular. After the bear market came, it was even more difficult to find its trace in China. Although “a convenient financing method” has great problems, we can see from its prosperity that this financing method has very strong flexibility. It can not only provide rapid financial support for start-ups and growth enterprises, but also help enterprises to connect with a broader foreign market. As a new financing method, STO combines the advantages of “a convenient financing method” and IPO. It has stability due to supervision and efficient market liquidity. It can be said that STO is a more advantageous and balanced financing method.