Meme and public chains are an interesting symbiotic pair, and they have many similarities. The most important aspect of MEME is traffic and reaching users because without value, there is no valuation system to constrain it; exaggerated rises and falls can reach users, and consensus determines price.
Public chains have never had an accurate valuation system, it is more based on user activity and benchmarks, and finally, the initial price setting. For example, APT and SUI, during the first wave of opening, everyone's expectation was to avoid breaking the VC cost, then oscillating around the cost line for a while can coincide with a market uptrend. This logic is something that anyone who has experienced the exaggerated increases of public chains in 2021 will buy into. In this process, the ecosystem is just the target that carries the traffic.
From this perspective, public chains and MEMEs are not much different; both are traffic businesses.
How to successfully create a public chain? Or how to purchase an impressive public chain? From this perspective, I think it is about finding three types of people:
1. Find the core user group; this group is willing to help bottom out and support at low prices and will not sell at high prices.
2. Find ways to reach more users during the uptrend through exchanges/media/news, etc.
3. Find Dapps and MEMEs that can bear new incoming traffic in the latter half of the uptrend, the former is the key focus, while the latter is an addition.
In the past few months, SOL achieved the 1st, 2nd, and 3rd positions for large accounts, SUI achieved the 1st, 2nd, and 3rd for small accounts, FTM achieved 1st and 2nd, and APT achieved 2nd.
Next, let's talk about the public chains that have not been launched yet, Initia and Movement are two very interesting examples:
1. The core user group is very fixed; one is the hope of the Move system, and the other is the hope of the Cosmos system, both relying on bridging ETH assets + utilizing the moldability of the ecosystem's VM to optimize user experience. The core user group should be users who have a strong belief in Move and Tendermint technology but are disappointed with the original ecosystem.
2. Both teams have a good position in their original ecosystem (the Initia team comes from Terra's technical background, and the Movement team comes from APT's core ecosystem). During the uptrend, they will acquire users who have exaggerated memories of their original ecosystem through PR, and the technical advantages can also be spread, creating a FOMO effect. Moreover, both teams are backed by Binance Lab and major Western VCs; on one hand, everyone expects these VCs' tokens to be hard to break, and on the other hand, regardless of whether they launch or not, there is always an expectation of being listed on top exchanges.
3. Both projects are supporting their own ecosystems. Initia has Blackwing (DEFI) and Infinity Ground (AI) and is associated with some infrastructure on Cosmos. Movement has incubated its own DEFI protocol with the Thala team and is very concerned about the MEME ecosystem, both of which can sustain traffic.
In this new era, whether public chains embrace the MEME ecosystem is actually not important; this is just one path to success. It is more important to understand the principle behind the MEME ecosystem, which is an extreme traffic business.
How to acquire core users, reach more external users, and find places to retain users is the key to success.
