The TRUMP Coin Incident and the Coming of the Crypto 2.0 Era

apital Researcher Zeke

On the eve of the US President's inauguration, on the evening of January 17 local time, Trump announced the launch of his personal token, the TRUMP coin, through the social media platform Truth Social he founded. Initially, many people mistakenly believed that this move was the result of a hacker attack on Trump's account, but dozens of minutes later, Trump used his personal main account on X (formerly Twitter) to retweet the promotional information about the token, officially confirming the authenticity of the news.

What followed was a surge that was enough to be recorded in the history of cryptocurrency. A large amount of funds began to pour into it. TRUMP's market value quickly climbed from zero to a maximum of 80 billion US dollars in just two days, almost completely siphoning all the liquidity in the market. The spread of this incident is no less widespread than the assassination of Trump in Pennsylvania last year, and its magic is no less than that he dodged the bullet by turning his head. I also have some simple thoughts to share about this incident.

In this big country in the East where I live, the final realization of private traffic is often completed through live streaming of goods on an app called "TikTok". On the other side of the Atlantic, the 47th President of the United States did something unprecedented. The head of the "world beacon" is using an electronic token to measure the value of his influence and power and accumulate huge wealth for his family. There is no doubt that we are entering a special era, an era where Crypto can be officially called Web3.0.

The original intention of the Internet was to end those radio and television stations that monopolized the attention economy and return it all to users, but in the end its development path deviated from the original route. The early Internet companies that held chat platforms and search engines in Web2.0 have developed into the giants we see today, such as Google and Tencent. They have completed the original accumulation and achieved long-term monopoly by controlling a large number of traffic entrances. Today, ByteDance almost dominates social media in China and the West. Although it is undeniable that short video platforms have brought many opportunities for grassroots to turn over, this benefit is still shared by Internet celebrities and platforms in most cases, and the platforms have absolute voice.

No matter how the form changes, the monopoly of traffic is the eternal theme of Web2.0 giants. Ordinary people have very limited opportunities to benefit from it. Users can only continuously contribute traffic and money in this feast. Meme Coin may be a new opportunity. It is true that participating in Meme PVP is very dangerous, and there are also scams. You even need to accept the absolutely unfair distribution of 2:8 like TRUMP, but how many opportunities do ordinary people have to benefit from the traffic of the US president? TRUMP's process from 0 to 80 may be the only time.

In the past, I couldn't explain what Meme Coin was. But now I think I can explain it in a few simple words. The value of Meme is the pricing of something, someone, or a certain meme in a certain period of time, just like the initial market price of President Trump was 80B a few days ago. On the other hand, Meme is also a division of the traditional Internet attention economy. People are keen on these things that can make their eyes stay, and Meme gives users an opportunity to participate in the value distribution in hot events.

I mentioned in a previous article that the best form of SocialFi is not a Dapp like Friend.tech that has set rules and regulations, but Pump. The coin issuing team behind the president also chose Pump. The reason is very simple. People have the need to belong to a certain group, but it does not mean that they have to accept unfairness for this need. Friend.tech's pricing of Key and the subsequent complicated gameplay around Token are the main reasons for its limited ceiling and ultimate failure. Looking back at the past SocialFi projects, dividing people into different levels according to the number of Tokens held to allocate empowerment and services is also the reason for their failure.

Small and fine is never suitable for Crypto that relies on community culture. Similarly, this applies to many tracks outside of SocialFi, such as the NFT issued by Trump. The huge supply of Meme often enables it to quickly gain a giant community. Whether you hold 100U tokens or 10WU tokens, you belong to this group.

In the past, when we established a project, we needed to promote it on social media using Twitter, and then introduce users to Tg and DC to build a community. In the more distant past, for ancient memes like Doge, you could only find "organizations" through some forums. Pump integrates the advantages of traditional social media on the basis of AMM, and returns the rule setters to Creater, which is the main reason for its success. It compresses countless fitting