Why is it said that public chain and Meme are essentially the same?

Author: Rui, Source: Twitter @YeruiZhang

Meme and public chains are an interesting pair of symbionts, and they are also very similar. The most important thing for MEME is traffic and reaching users, because there is no value and no valuation system to constrain it. It only needs exaggerated rises and falls to reach users, and consensus determines the price.

Public chains have never had an accurate valuation system. They are more based on user activity and benchmarking. Finally, the initial price setting is required. For example, APT and SUI, the first wave of opening is expected not to break the VC cost, and then hover around the cost line for a period of time before it can start to rise in line with the big market. This logic is that those who have experienced the exaggerated increase in the public chain in 21 years will buy in. In this process, the ecosystem is just a target for carrying traffic.

From this perspective, public chains and MEME are no different, both are traffic businesses.

How to make a good public chain? Or how to buy a good public chain? From this perspective, I think it is to find three types of people:

1. Find the core user group, this group of users are willing to help buy at a low price to protect the market, and will not sell at a high price.

2. Find more users through exchanges/media/news and other channels when the price rises.

3. Find Dapps and MEMEs that can carry new traffic in the second half of the rise. The former is the focus, and the latter is a bonus.

In the past few months, SOL has achieved large-scale 1, 2, 3, SUI has achieved small-scale 1, 2, 3, FTM has achieved 1 and 2, and APT has achieved 2.

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 groups are very fixed. One is the hope of the Move system, and the other is the hope of the Cosmos system. They all take the solution of bridging ETH assets + optimizing the user experience by utilizing the plasticity of the ecosystem VM. The core user group should be users who have strong faith in Move and Tendermint technology but are disappointed with the original ecology.

2. Both teams have a good position in the original ecology (Initia's team is from Terra's technology, and Movement's team is from the APT core ecology). When the price rises, there will be users who have exaggerated memories of the original ecology through PR. Similarly, the technical advantages can also be spread secondary, causing FOMO effect. In addition, both teams are invested by Binance Lab + Western big VCs. On the one hand, everyone expects that the coins of these VCs are more difficult to break, and on the other hand, whether they are listed at the beginning or not, there is always an expectation of listing on the top exchanges.

3. Both projects are supporting their own ecosystems. Initia has Blackwing (DEFI) and Infinity Ground (AI), and is also related to a number of infrastructures on Cosmos. Movement has found Thala’s team to incubate its own DEFI protocol, and is very concerned about the MEME ecosystem. Both can handle the traffic.

In the new era, it is not important whether the public chain embraces the MEME ecosystem. This is just a path to success, but we should understand that the principle behind the MEME ecosystem is the ultimate traffic business.

How to acquire its own core users, reach more external users and find places to retain users is the key to success.