川普幣事件與加密2.0時代的到來

資本研究員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.

美國總統就職前夕，當地時間1月17日晚，川普透過創辦的社群媒體平台Truth Social宣布推出個人代幣——川普幣。最初，許多人誤以為此舉是川普帳號遭到駭客攻擊的結果，但幾十分鐘後，川普用他在X上的個人主帳號（原推特）轉發了有關該代幣的促銷訊息，正式確認了該代幣的促銷訊息。

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.

隨之而來的是足以載入加密貨幣歷史的暴漲。大量的資金開始湧入其中。川普的市值在短短兩天內從零迅速攀升至最高800億美元，幾乎完全吸走了市場上的所有流動性。這件事的傳播範圍不亞於去年川普在賓州被刺殺的事件，其神奇之處也不亞於他轉頭躲過一劫。對於這起事件，我也有一些簡單的想法可以分享。

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.

在我居住的這個東方大國，私域流量的最終變現往往是透過一款名為「TikTok」的應用程式上的直播帶貨來完成的。在大西洋的另一邊，美國第47任總統做了一件史無前例的事。 「世界燈塔」的掌門人正在用電子代幣衡量自己的影響力和權力的價值，為家族累積巨額財富。毫無疑問，我們正在進入一個特殊的時代，一個加密貨幣可以正式稱為Web3.0的時代。

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.

網路的初衷是結束那些壟斷注意力經濟的廣播電視台，將其全部還給用戶，但最終它的發展道路卻偏離了原來的路線。早期在Web2.0中佔據聊天平台和搜尋引擎的網路公司，已經發展成為我們今天看到的巨頭，例如Google和騰訊。他們透過控制大量的交通入口，完成了原始積累，實現了長期壟斷。如今，位元組跳動幾乎統治了中國和西方的社群媒體。雖然不可否認，短影片平台為草根帶來了許多翻身的機會，但這種好處大多數情況下還是由網紅和平台分享，平台擁有絕對的話語權。

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.

無論形態如何變化，流量的壟斷是Web2.0巨頭永恆的主題。普通人從中受益的機會非常有限。用戶只能在這場盛宴中不斷貢獻流量和金錢。 Meme Coin 可能是一個新的機會。確實，參加Meme PVP是非常危險的，而且也存在騙局。你甚至需要像川普一樣接受2:8絕對不公平的分配，但是普通人有多少機會從美國總統的流量中受益？川普從0到80的過程可能是唯一一次。

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.

以前我無法解釋Meme Coin是什麼。但現在我想我可以用簡單的幾句話來解釋它。 Meme的價值是某個時間段內某個事物、某個人、某個meme的定價，就像前幾天川普總統的初始市場價格是80B。另一方面，Meme也是傳統網路注意力經濟的一個分支。人們熱衷於這些能讓人目光停留的東西，而Meme則讓用戶有機會參與熱門事件中的價值分配。

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.

我在之前的文章中提到，SocialFi 最好的形式不是像 Friend.tech 這樣制定了規則和規定的 Dapp，而是 Pump。總統背後的發幣團隊也選擇了Pump。原因很簡單。人們有屬於某個群體的需要，但這並不代表他們必須為此接受不公平。 Friend.tech對Key的定價以及隨後圍繞Token的複雜玩法是其上限有限並最終失敗的主要原因。回顧過去的SocialFi項目，根據持有Token的數量將人分為不同的等級來分配賦權和服務也是其失敗的原因。

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.

小而精永遠不適合依賴社區文化的加密貨幣。同樣，這也適用於 SocialFi 以外的許多賽道，例如川普發行的 NFT。 Meme的巨大供應量往往使其能夠迅速獲得龐大的社區。無論你持有100U代幣或10WU代幣，你都屬於這個群體。

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

以前我們立項的時候，需要在Twitter等社群媒體上推廣，然後向用戶介紹Tg和DC，建立社群。在更遙遠的過去，對於像Doge這樣的古老模因，你只能透過一些論壇找到「組織」。 Pump在AMM的基礎上整合了傳統社交媒體的優勢，將規則制定者回歸到Creater，這是其成功的主要原因。壓縮了無數配件