Dialogue with Yuyue, Starting from Alpha Hunter: Exploring the Meme Ecology and How Generation Z Lea
Think about what scarcity is and what is your own moat. Making money is not uncommon, because there are too many people making money. What is scarce is constantly reviewing why one is making money, with a logical and methodological system to review and continuously replicate.
@Yuyue_chris is an active post-2000s investor and trader in the Web3 field. From entering the market with a capital of 3000 yuan in 2022 to becoming a professional trader today, she has achieved the transformation from a novice to an OG in just two years with her keen insight into the market and continuous learning attitude. Currently, she is an important member of multiple top Chinese language communities and also operates her own community.
OKX has specially invited him as a guest speaker for the "Friends of OKX" series, sharing her trading insights and deep thoughts on the Meme track. We hope this content will inspire everyone.
The "Friends of OKX" series is a special program specially planned by OKX, hosted by OKX's official community ambassador Mercy (@ Mercy_okx), aimed at exploring the career stories, industry insights, and lessons learned of KOLs from different backgrounds for novice users to learn and refer to.
Mercy (@Mercy_okx): Can you share with us how you entered the cryptocurrency field?
Yuyue (@yuyue_chris): I joined the industry in March 2022, during the bear bull transition period. As a business student, I initially wanted to find an internship and start writing some Web3 research projects. The real way to enter the circle is to see a contract listing from an exchange in my friend circle, ask the other party "What app is this?", and then receive a commission rebate link. At that time, there was only three to five thousand principal, but it was quickly cleared by a 20 fold leveraged contract, leaving only a little ETH on the chain. I dare not tell my parents that I have lost all my living expenses and can only find another way out.
Mercy: What made you persevere? Which communities have had the greatest impact on you?
Yuyue: The transfer occurred during the Nation3 airdrop. At that time, I saw many big V's reposting on Twitter, asking everyone to leave their ENS address. I just followed a few and didn't expect to actually receive airdrops. This made me realize the importance of obtaining positive feedback, without which it would be difficult to persist in a situation of continuous losses. Since then, I have been constantly iterating my information sources, joining more communities to meet more people, and actively reviewing every opportunity.
Regarding communities, one is the Robot DAO of scriptdotmoney, which is the top Chinese community of Huangpu Military Academy. Many current top community leaders have emerged from it, such as Laser Cat. Next is Zishi's 321 DAO, which is also the Huangpu Military Academy for Chinese KOLs. I have learned a lot here. Finally, there is Professor Fengmi's 33 DAO, which has evolved from an airdrop organization to an elite organization that integrates investment research, execution, and investment. Professor Fengmi once said, "The most important thing for an organization is to have cohesion internally and influence externally
Mercy: How did the transition from Alpha Hunter to becoming an investor and professional trader occur?
Yuyue: As an Alpha Hunter in the early days, I mainly shared various arbitrage and airdrop opportunities. Studying rules is important, just like studying law, only by understanding all the terms can we find loopholes. And loopholes often contain the best profit opportunities. For example, the penguin airdrop a few days ago. Half a year ago, I was one of the few bloggers in the Chinese speaking region who publicly recommended doing the Penguin Layer Zero cross chain task. During the airdrop, the single account could earn nearly ten thousand dollars in revenue, and the capital wear and tear was also minimal. At that time, I was observing new projects every day, so much so that many people's impression of me was' I already followed this project when there were so few fans'.
But as the amount of funds increases, trading strategies are also constantly evolving. I mainly use large positions to allocate BTC and ETH as bottom positions in my offensive strategy, using them as margin for contracts, but keeping the leverage below 3 times. I invest because I have previously worked at IDG and am familiar with the primary market, so I also invest in primary market projects.
2、 Deep insights into the Meme track
Mercy： How do you view Memecoin's explosive growth in this bull market?
Yuyue： This needs to be seen from the overall narrative shift in the cryptocurrency industry. I think there are two main logical lines now: asset line and speculation line. The asset line revolves around assets with real and stable value, such as BTC and stablecoins; The speculative line is mainly based on Meme, representing a nationwide speculative frenzy. When BTC reached a new high, these two lines intertwined to form the current prosperity.
From the earliest public chains to DeFi GameFi， Moving on to NFTs, we are now in the era of pump.fun. The popularization of cryptocurrency does not require complex DeFi formulas, but rather a more down-to-earth approach. Meme perfectly meets this requirement. On the asset side, BTC itself, as an interest free strong consensus asset, may essentially be understood as a 'meme'. However, a large number of new holders choose BTC not only to participate in consensus, but also to seek asset preservation and even appreciation in the process of resisting real inflation.
Mercy: Why can Meme have such a deep integration with Generation Z culture?
Yuyue: This is related to the cognitive characteristics of the human brain. People naturally pursue novelty and constantly raise their threshold for similar stimuli. Meme provides simple, fast, and rich stimulation, while also dispelling the seriousness of finance and creating a 'play' mentality. This is a game of entertainment oriented finance and financialization. For example, which one has a larger audience and is more prone to addiction, a 10000 word project research article or a short and interesting slogan? Obviously, the latter has been verified by hundreds of millions of users in the era of short videos.
Mercy: The birth of Pump.fun in this round seems to have become the infrastructure of Meme Supercycle, and now besides Solana, other major ecosystems have also launched their own versions of Pump.fun. What kind of changes do you think this short frequency fast mode will bring?
Yuyue: I think the focus is not on the infrastructure of pump.fun, but on more macro level changes. With the relaxation of regulation, we have seen centralized exchanges ETF、 The disconnect between the US stock market and the on chain landscape. In the future, more and more people may purchase mainstream currencies through ETFs, while on chain speculative trading mainly relies on Meme.
Furthermore, I believe that the current regulatory environment is actually more favorable for Meme. You can see that major exchanges have been frequently listing Meme coins recently, which means that the compliance risk of Meme itself is relatively small. However, it is worth noting that the novelty of a thing will always fade away, so the rotation of sectors will be very fast, whether it is the rotation between DeFi and Meme, the rotation between value coins and Meme coins, or even the rotation within the Meme sector.
Mercy (@Mercy_okx): What unique advantages do you think Meme project has compared to traditional VC projects?
Yuyue (@yuyue_chris): This is a very interesting question. In fact, even for new VC projects, if they want to launch a serious product or protocol, the team itself must understand the value and importance of Meme. If Meme cannot be used skillfully, it is difficult to compete with BTC ETF, ETH ETF and mainstream currencies for any intra circle counterfeit currency other than the Trump concept in terms of buying outside the circle. If Meme cannot be used skillfully, it is difficult to compete with Meme in terms of buying inside the circle.
I can give you a few good examples:
AVA utilizes the cute white haired loli image to establish an organic community of AI agents, promoting the product @ HoloworldAI
$MOVE uses various memes to promote @ movementlabsxyz, and the founder himself has the topicality and legendary nature of the Z generation group
BERA's "out of tune" meme temperament, always indulging in debauchery and extravagance at every event, fake chain culture, and more
Mercy: What dimensions do you consider when screening Meme projects?
Yuyue: I mainly consider from three aspects:
The first is the narrative hierarchy, which is divided into grand narratives (political, economic, AI), small and beautiful cults (specific images or niche cultures), and short-term hotspots.
The second is the chip structure. Large cap projects require attention to the dispersion of chips, which determines the strength of consensus; But early projects should not be overly dispersed, as it may lead to sustained selling pressure.
The third is community building. We need high-quality community leaders, preferably diamond hands who can build for a long time and continue to recharge faith for the community. If early communities were all flippers, it would be difficult to establish long-term value.
3、 Advice for beginners
Mercy: What advice do you have for beginners who have just entered the industry?
Yuyue: Firstly, establish your own information channels, but be wary of information cocoons. I suggest diligently brushing and researching the early planners behind each hot topic. Secondly, do not overly rely on tracking tools, as you cannot fully replicate other people's positions and timing.
The key to continuous learning and growth is to receive positive feedback, even small positive feedback. From my experience, few people can achieve particularly large returns on a single project, and it is more of a linear growth process. The wealth growth of critical hits is often due to survivorship bias, while linear growth is the prerequisite for exponential growth critical hits. Traders need to realize that this market is always changing, and the only constant is to maintain a learning attitude and find their own rhythm and circle. It's difficult to work alone, and true growth requires learning from each other and making progress together in a high-quality community.
4、 Impressions and suggestions for OKX
Mercy (@Mercy_okx): Please share your impression of OKX, including your feelings about product experience and team interaction.
Yuyue (@ yuyue_chris): The core impression that OKX gives me is its fast product iteration speed. This is manifested in several aspects: firstly, the functionality of the CEX system, such as the UI redesign of the financial sector. Although I was not accustomed to it at first, the product logic became clearer after the redesign. Next is the Web3 wallet section, which iterates very quickly and has increasingly complete functions.
Another point is that OKX attaches great importance to user experience and needs, and the team is deeply involved in the community. You often appear in various groups to collect user feedback and respond quickly, which has left a good impression on me.
Mercy: Do you have any suggestions for the future development of OKX, especially in the combination of CEX and DEX?
Yuyue: Regarding CeDeFi, I think it depends on the specific definition. For example, some exchanges allow the use of interest generating stablecoins as contract margin, which is a feature that exchange modules can consider.
I think one thing OKX has done well is to clearly distinguish between on chain and on exchange functions. The Web3 wallet section is independent of the exchange system and has been done very well, with functions that are very close to actual needs. As a professional meme user, I hope to have a faster mechanism for adding new features. Although it has been done very well now, for some projects with strong immediacy, it would be better if they could be supported more quickly.
What deserves special praise is OKX's outstanding performance in multi chain products. Many public chains do not have particularly good native wallets, but the experience of OKX wallet's web end on these chains is very good, such as Aptos. It is suggested to further strengthen this advantage and provide better wallet support for emerging public chains.
Mercy: We are exploring new features that allow CEX users to trade DEX tokens, and DEX users can also trade CEX tokens. What do you think of this direction?
Yuyue: This idea sounds very innovative. This not only allows centralized exchange users to have more choices, but also provides more liquidity for DEX, making the on chain trading experience smoother. Looking forward to seeing the specific implementation of this feature.
This article is for reference only. This article only represents the author's viewpoint and does not represent OKX's position. This article is not intended to provide (i) investment advice or investment recommendations; (ii) Offer or solicitation to purchase, sell, or hold digital assets; (iii) Financial, accounting, legal or tax advice. We do not guarantee the accuracy, completeness, or usefulness of such information. The digital assets held (including stablecoins and NFTs) involve high risks and may experience significant fluctuations. You should carefully consider whether trading or holding digital assets is suitable for you based on your financial situation. For your specific situation, please consult your legal/tax/investment professionals. Please be responsible for understanding and complying with applicable local laws and regulations on your own.
