Original Title: "Meme Coins, Social Infrastructure For Crypto"

Original Author: Meow, R89

Original Translation: Luccy, BlockBeats

Editor's note:

This article was written by Meow, former chief advisor of Instadapp, Kyber, and Blockfolio, co-founder of the largest wrapped token wBTC, and one of the founding contributors of the Handshake project. Currently, Meow is the founder of Raccoons Labs, developing Solana liquidity aggregator Jupiter, Solana liquidity protocol Meteora, and conducting multi-chain research with a strong interest in social infrastructure.

This article was co-written by Meow and MonkeDao co-founder and CEO R89, delving into the role of meme coins in the cryptocurrency ecosystem and emphasizing their importance as social infrastructure. The article explores various aspects of meme coins, including cultural resonance, community building, narrative and symbolism, simplicity and ease of use, and betting under network leverage, revealing their profound impact on shaping the future of digital currency. BlockBeats has translated the original article as follows:

We live in a ridiculous world, and this absurdity only inspires more interesting memes. The crazier and scarier the world becomes, the funnier the memes get, and we need them more than ever. We find resonance through humor, and we use memes to cope with terrible events, always leaving those historic moments forever in the internet meme.

Whether it's a significant event with far-reaching geopolitical implications like the Trump election or a specific and minute incident like the Harambe incident, memes are a concise and powerful way to revisit our collective memory.

Setting aside those big and famous memes, they are actually just a simple communication tool. The entire conversation is interrupted by various stickers and gif animations. Memes have their own language and are an indispensable part of the Internet. They are usually where we find resonance, and people form communities to share, appreciate, and acknowledge the cultural significance of these memes.

meme is crucial to cryptocurrency

In internet culture, there is nothing more central than memes. Because cryptocurrency is essentially an internet currency, why wouldn't memes be equally crucial to cryptocurrency?

For us, it makes sense that they often dominate the conversation and imagination of market participants. The market is essentially a meme, constantly driven by the most notable narratives of the day, week, or year.

Cryptocurrencies simply elevate this situation to another level. We have spent a lot of time in this industry discussing why things have value and how to measure the value of these assets. Why is a token valuable? Ultimately, it is just collective belief, and people believe in memes. We grew up in memes, understand them, and cherish them. They are important to us.

You can build a community around a meme coin, which may facilitate formal collaboration between very talented people. If done well, they could ultimately become one of the best ways to attract users, as opposed to reading a complex DeFi token whitepaper that users either don't read or don't understand, but they can immediately understand these memes. Therefore, you can encourage them to use the product on the network through collaboration and incentives.

From a historical perspective, meme coins have experienced huge gains during bull markets. This narrative has become deeply ingrained among market participants, and people generally believe that these coins can do amazing things. Meme coins are here to stay, and teams should accept that. Ordinary investors won't enter this market because you've done some math that they can't decipher or because your decentralized exchange (DEX) can route orders better. However, they may enter the market because a certain meme coin is skyrocketing, can be purchased in the billions, and comes with a cute animal picture, and then use your DEX to trade.

Social coordination, narrative, minimal trust, and shared incentives are essential parts of cryptocurrency. If memes are the language of the internet natives and cryptocurrency is set to become a significant part of the future internet, it is reasonable to assume that meme coins will become a persistent component of the new parallel economy we are building. You cannot kill memes on the internet, nor can you kill meme coins. Therefore, we should start treating them as powerful tools and a fundamental aspect of cryptocurrency beyond technology and financial infrastructure, and take them more seriously.

Essentially, meme coin is a social infrastructure.

On the other hand, we also believe that meme coins are the purest embodiment of our three core beliefs that we hold:

1. The new currency means the formation of a new social system.

2. The generation of value is only because people want something.

3. Symbols have tremendous cohesive power.

Although this is true for all successful coins - the reason why Bitcoin has become a global giant is because it has successfully created a global social system that many people want and has become a symbol of resistance against centralized systems.

The meme coin fully embodies the ultimate expression of these beliefs, as the only element that constitutes the meme coin is the social system it has successfully built, creating sufficient demand for it. It is crucial to emphasize that in our view, the core of community unity is the symbol itself, not the technology or financial system.

Therefore, they can become one of the most important social layers in the network, bringing teams and users together around some interesting things, rather than being as heavy as some projects that try to change the world.

meme coin is very important

Overall, meme coins are very important for the following reasons:

1. Cultural resonance: They use the universal language of memes to make them easy to understand and engaging.

2. Community Building: Meme coin has cultivated a strong and passionate community centered around sharing humor and interests.

3. Description and symbolism: They embody fascinating stories and ideas, attracting the public's imagination and transcending technical or financial utility.

4. Simple and easy to use: Their simple nature makes them easy for encryption beginners to access, becoming a gateway to a wider world of encryption.

5. Betting under the network leverage: Meme coins can be used as a high-risk, high-return investment, usually seen as a leveraged bet on the popularity and adoption rate of their underlying networks, reflecting how community support and network effects greatly influence their value.

6. Role in the encrypted ecosystem: Meme coins have added a social layer to the cryptocurrency industry, balancing the technical and financial complexity with ease and entertainment.

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