On the 28th, Binance’s Chief Marketing Officer He Yi published a piece titled “Reflections on Meme Coins” at Binance Square, expressing her understanding of the cultural significance, investment strategies, and industry prospects of meme coins.
(Background: Binance’s voting mechanism exposed issues of “vote buying” by project parties; He Yi responded: “If no one votes next time, we will delist.”)
(Additional context: Will future tokens listed on Binance be free? Can we find profit opportunities from “community voting results”? He Yi: We will crack down on cheating behaviors.)
Recently, Binance founder Changpeng Zhao (CZ) and co-founder He Yi have shown strong support for meme coins, actively engaging with the community around meme coins and promoting multiple meme coins for listing on Binance’s spot trading market. Just yesterday (28th), He Yi published a piece titled “Reflections on Meme Coins” at Binance Square, expressing her understanding of meme coins’ cultural significance, investment strategies, and industry prospects. The key points from He Yi have been summarized as follows.
The Essence of Meme Coins
He Yi first pointed out her positioning on meme coins, stating that meme coins are an extreme expression of the crowd and a cultural impact from subculture to mainstream culture:
“Expression is a commonality among humans. A good meme can transcend cultural maps and make people smile. When the collective self-identity, emotions, and subjective intentions of the public overlap, it forms unique values, semantics, and expressions… I did not grow up in Western culture, but I believe every culture can resonate deeply with certain groups… Essentially, there is no circle that is truly superior… MEME is a silent thunderclap, an extreme expression of the crowd, a cultural impact from subculture to mainstream culture. Thus, being photoshopped or having coins issued is also part of the deconstruction, so I feel I am not yet worthy to be at the center of MEME.”
Who Can Surpass DOGE?
Next, He Yi referenced the glory days of meme coin progenitor DOGE (Dogecoin), stating that MEME is not only a product of attention economy, but also a carrier of belief and faith. Great MEMEs have the potential to transform into products or long-term beliefs, rather than fleeting topics. A MEME that surpasses Doge may emerge in the future, provided it can continuously attract attention and create substantive value:
“There is only one Doge. In the first Bitcoin bull market of 2013, among countless projects trying to imitate Bitcoin, they both mocked Bitcoin and self-mocked, with a mix of humor and passion. The developers abandoned the project, but the community thrived, contributing significantly to the development history of crypto culture. The Chinese crypto community sent Dogecoin around the world, creating a unique crypto path: ‘Preaching for the industry, rewarding pioneers.’ Back then, BBS comments were: ‘I see you are a good person, I will reward you with 10,000 Doge,’ leaving the rewarded individuals confused as to how much 10,000 Doge was worth without a calculator.
“In the development of the crypto industry, each community has its own ‘Gann.’ Later, Elon’s affection for Doge brought subculture into the mainstream. Today, Doge is no longer just a dog. MEME is an attention economy, but not solely about attention. If everything is like Twitter’s trending topics, then it is destined to be fleeting. Great MEMEs do not arise from celebrities making clever remarks; that is insufficient for creating a MEME. It is worship of those in power (be they politicians or entrepreneurs), which is not cool enough.
“On the other hand, those who oppose for the sake of opposition often hide a face marked by extreme right-wing ideology behind their extreme leftist rhetoric. Those who scream for decentralization tend to be extremely centralized. Maintain critical thinking, seek the genuine amidst the false. Imagine if someone in your group tells you to buy into a trending topic today; of course, that topic will cool down by tomorrow. If this attention can become a product, a belief, a religion, then it is possible for the next Doge to emerge, even to surpass Doge. Who says it’s impossible? Everything is possible.”
Believing in Value Investment
Regarding her investment philosophy, He Yi stated that she adheres to the logic of value investment and extends it to the current state of the crypto market. She remarked that there will always be new trends, but the world belongs to a select few who drive change. Rather than chasing trends, it is better to become the trend:
“I do not trade but hold for the long term, as I adhere to the logic of value investment. Similarly, in managing a business, I also uphold long-termism, whether it’s building a clock or a garden… The market scale of 17 years ago was less than it is today, and the capital scale of 21’s DeFi summer was also less than it is now. We are seeing more excellent entrepreneurs entering the Web3 industry, the industry’s scale is growing, but confidence is decreasing.
“Many users ask why project valuations cannot return to the ICO era. We can never return to the past, but we are trying to let users vote for listing and delisting coins, allowing Web3 wallets to conduct IDOs. Project parties can choose to issue at low thresholds and low market caps, ensuring real users profit, which is far better than spending money to create false data and deceive oneself… I have heard that many serious projects do not want to continue; hey! Friends, there will always be new trends, but the world belongs to a select few who drive change; rather than chasing trends, it is better to become the trend.”
He Yi’s Investment Recommendations
Finally, He Yi stated that all her assets are in cryptocurrencies. Although her long-term holding style may not suit most people, her investment advice is to — earn certain money:
- Earn money in cycles, probably judging economic cycles and bull-bear trends. Selling in bull markets and buying in bear markets is basic operation.
- All asset categories follow the principle of leading assets.
- Recommendation: Allocate at least 20% in cryptocurrencies. Land is an asset of agricultural civilization; minerals are hard currencies of the industrial era; the leading assets of the information age are stocks of leading internet companies and currencies with siphoning effects.
- Some friends say that fundamentally sound coins do not have enough volatility; if there is no leverage, or trading some high-risk tokens, there may be no opportunity. Therefore, it is advised not to exceed 10% of your disposable assets.
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