
Uniswap's Major Buyback Proposal: Can UNI Trigger a Value Reassessment?
Uniswap’s latest governance proposal aims to transition the UNI token into a deflationary model by activating protocol fees and implementing a buyback-and-burn mechanism. These changes could profoundly impact UNI’s long-term value. Core Proposal HighlightsEnable protocol fees and use them to repurchase and burn UNI tokens, transforming UNI from a governance token into a productive asset backed by cash flow.Conduct a one-time burn of 100 million UNI tokens (16% of total supply), immediately bo...

Is Polymarket Considered Gambling? Legal Risks for Chinese Users
Polymarket is a blockchain-based prediction market platform that allows users to predict future events and profit by buying and selling related contract shares. This article analyzes the risks for Chinese users from a legal perspective: * How Polymarket Works: Users use stablecoins to bet on outcomes of future events like politics or sports, trading shares that represent the probability of a particular outcome. Settlements are executed via smart contracts once the event outcome is determined....

Can Stablecoins Break Visa and Mastercard's Duopoly?
Stablecoins have emerged as a potential challenger to the $1 trillion duopoly of Visa and Mastercard. These stablecoins offer the promise of significantly lower transaction fees, which could disrupt the current market dynamics dominated by Visa and Mastercard. However, the path to widespread adoption is fraught with regulatory and banking industry pressures.The Current LandscapeVisa and Mastercard currently charge merchants transaction fees of up to 2-3%, which is often the second-largest exp...
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Uniswap's Major Buyback Proposal: Can UNI Trigger a Value Reassessment?
Uniswap’s latest governance proposal aims to transition the UNI token into a deflationary model by activating protocol fees and implementing a buyback-and-burn mechanism. These changes could profoundly impact UNI’s long-term value. Core Proposal HighlightsEnable protocol fees and use them to repurchase and burn UNI tokens, transforming UNI from a governance token into a productive asset backed by cash flow.Conduct a one-time burn of 100 million UNI tokens (16% of total supply), immediately bo...

Is Polymarket Considered Gambling? Legal Risks for Chinese Users
Polymarket is a blockchain-based prediction market platform that allows users to predict future events and profit by buying and selling related contract shares. This article analyzes the risks for Chinese users from a legal perspective: * How Polymarket Works: Users use stablecoins to bet on outcomes of future events like politics or sports, trading shares that represent the probability of a particular outcome. Settlements are executed via smart contracts once the event outcome is determined....

Can Stablecoins Break Visa and Mastercard's Duopoly?
Stablecoins have emerged as a potential challenger to the $1 trillion duopoly of Visa and Mastercard. These stablecoins offer the promise of significantly lower transaction fees, which could disrupt the current market dynamics dominated by Visa and Mastercard. However, the path to widespread adoption is fraught with regulatory and banking industry pressures.The Current LandscapeVisa and Mastercard currently charge merchants transaction fees of up to 2-3%, which is often the second-largest exp...
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MEME Cultural Core: Wild vs. Official
In a sense, Solana's MEME ecosystem leans towards a "wild" cultural melting pot driven by community spontaneity. The core feature of Solana's MEME coins is their strong community-driven nature, which is not entirely dependent on centralized forces but rather stems from the enthusiasm and creativity of community members.
The diverse types of MEMEs extend from traditional internet culture to crypto-related gags, demonstrating the breadth and depth of its ecosystem. Animal-themed MEMEs are the most recognizable type in Solana's ecosystem, capturing community attention through humorous or absurd narratives. For example, the dog-themed Bonk community's resistance to centralization, the community-driven creativity of the WIF with a hat, and the internet-famous POPCAT meme, which originated from the Oatmeal cat meme, have all extended their viral life on-chain. PolitiFi MEMEs, which focus on real-world political hotspots and blend satire with speculative attributes, have amplified their influence through community sharing and derivative content creation. For instance, TRUMP, created by Trump supporters, and PNUT, inspired by the New York squirrel incident, are seen as symbols against excessive government regulation. Endorsed by celebrities like Musk and Trump, these MEME coins have adopted a "celebrity + community co-creation" model, where external momentum is injected while the community continues to amplify their influence through spontaneous creation. Technical gags like LLM, Solana Killer, and TPS often accompany technical discussions, attracting developers and tech enthusiasts. Internet culture-related MEMEs such as Fartcoin, BOME, and Gigachad often feature strong visual impact and simple slogans, achieving viral growth through community-driven creation and dissemination.
In contrast to Solana's "wild" nature, BNB Chain's MEME culture relies more on celebrity effects and external momentum from the Binance platform. Its ecosystem functions more like a "processing plant," with creativity and dissemination highly concentrated around Binance's core figures (mainly CZ and He Yi) and official narratives. While this model can quickly generate buzz in the short term, it falls short of Solana in terms of type diversity and cultural resilience. For example, TST, originating from a BNB Chain team tutorial video, owes its popularity to the Binance brand's halo and the indirect influence of founder CZ. Mubarak benefited from the investment hype of the UAE sovereign fund MGX and a boost from CZ. BROCCOLI revolves around CZ's pet dog, while Binance Card stems from Binance's early construction efforts.
Of course, Solana co-founder toly has also supported some MEMEs through retweets and likes, but his personal influence pales in comparison to CZ's. Moreover, the projects he favors hold a relatively small share within Solana's overall MEME ecosystem. In contrast, the CZ effect on BNB Chain is very pronounced. Leveraging his strong appeal in the crypto world, his every utterance can trigger a concentrated influx of funds and attention.
Although this top-down model can quickly ignite momentum based on Binance's traffic foundation, it also restricts the community's creative space, falling short of Solana in cultural diversity and resilience. That said, there are some community-driven MEMEs on BNB Chain, such as Cheems, Floki, and Babydoge, all attempting to replicate the success of the classic DOGE MEME coin.
MEME Construction Logic: Mass Coin Creation vs. Curated Alpha
Solana's MEME culture benefits from the "mass coin creation" model of platforms like Pump.fun, which significantly lowers the barrier to token creation. This allows any idea to quickly transform into an on-chain asset. This low-cost, high-efficiency mechanism greatly stimulates community creativity, further enriching the experimental nature and vibrancy of Solana's MEME ecosystem.
However, the drawbacks of this model are also evident. Project quality varies widely, with most MEMEs quickly returning to zero after short-term speculation, lacking long-term viability. The market is filled with speculators chasing quick profits, while projects with real cultural value or community foundations are often drowned out by the noise, making it difficult to nurture a sustainable community ecosystem. Solana's MEMEs resemble an open creative marketplace where anyone can set up a stall, but the quality of these stalls is highly inconsistent.
In contrast, BNB Chain adopts a more cautious strategy in its MEME ecosystem. For example, Four.meme provides low-threshold startup opportunities while offering funding support to promising projects through an ecosystem fund. Although this "curated rather than flooded" approach somewhat limits grassroots creativity, it significantly enhances the stability and development potential of the ecosystem. In this sense, BNB Chain is more like a gated incubator, filtering out low-quality projects to provide a more reliable growth environment for its MEME ecosystem. This is also reflected in the rarity of MEME speedrun scripts.
Binance's vast resource support and BNB Chain's funding are significant advantages for its MEME ecosystem. Binance's hundreds of millions of users worldwide provide a substantial exposure base for MEME tokens. Moreover, Binance's marketing capabilities (such as the Alpha program and official announcements) can quickly bring projects to a broad audience. Binance's recent innovative measures have further strengthened this advantage. For example, the Binance Alpha 2.0 test version launched for certain countries/regions is directly integrated into the Binance exchange, bridging the gap between CEX and DEX. This provides MEME tokens with higher liquidity, capital efficiency, and accessibility. Binance also launched a full compensation campaign for "sandwich" losses for Binance Alpha trading users. Binance Wallet's six-month zero-fee trading activity further reduces participation costs, attracting more users to try MEME projects. In addition, BNB Chain's $4.4 million permanent liquidity support plan launched at the beginning of 2025 provides financial security for early-stage projects. This dual support of funding and traffic is currently unattainable by Solana's MEME ecosystem.
Infrastructure Development: Diverse Choices vs. Ongoing Construction
Solana's rise as a core hub for MEMEs is inseparable from its efficient infrastructure. First, Solana's superior transaction processing speed and extremely low transaction costs make it the preferred platform for MEME development. These characteristics not only perfectly match the viral nature of MEMEs but also naturally suit the "fast in, fast out" speculative culture of MEME coins, meeting the needs of high-frequency speculative trading. At the same time, Solana has built a full-chain ecosystem that provides seamless support for the creation and promotion of MEME projects. From DEXs (such as Raydium, Jupiter, and Orca), to user-friendly wallets (such as Phantom, Solflare, and OKX Wallet), to convenient launch and trading tools (such as Pump.fun and Moonshot), Solana offers a comprehensive suite of tools. In addition, third-party tools further enrich its ecosystem, such as GMGN, Dexscreener, trading bots, and RugCheck. This combination of analysis and trading tools significantly lowers the user participation threshold, allowing ordinary users to quickly engage in the MEME ecosystem.
In comparison, BNB Chain is also competitive in terms of technical performance, with gas fees far lower than the high-cost environment of Ethereum, providing an economic foundation for MEME project development and trading. However, BNB Chain is slightly inferior in terms of innovation and the diversity of its tool ecosystem, with a relatively conservative infrastructure development. Currently, BNB Chain's DEX trading ecosystem is highly dependent on a single platform, PancakeSwap, lacking the diversified choices of Solana. Moreover, the recent surge in trading activities has also provided a breeding ground for "sandwich" attacks on BNB Chain, especially for newly launched MEMEs with low liquidity, which have become hotspots for such attacks, resulting in significant losses for retail investors. Additionally, the completeness of its supporting facilities is insufficient, and the overall richness of the ecosystem and user experience still need improvement. More notably, the security of DEX trading on BNB Chain has exposed certain risks. For example, the recent incident where attackers exploited a vulnerability in Four.meme to steal liquidity pool funds may weaken user confidence in its ecosystem to some extent.
Market Timing: Bottom Bounce vs. Sharp Decline
Solana's high performance and low costs made it an early hotbed for MEME experimentation. Starting from the end of 2023, the market was at a critical stage of bottoming out and rebounding from the previous bear market. Market sentiment gradually warmed up from the trough. Phenomenal MEME projects on Solana at that time (such as Silly and BOME) created a strong demonstration effect, igniting community enthusiasm and attracting more developers, investors, and community members. At the same time, Solana nurtured a community-driven culture. This cultural force not only enhanced user stickiness but also formed a strong sense of identity, solidifying its market position. Although other blockchains also developed their MEME ecosystems during the same period, they failed to seize the rising tide of the trend as accurately as Solana and lacked a similar cultural cohesion, making it difficult for them to compete.
In contrast, BNB Chain's trajectory in MEME development has been constrained by both market timing and the broader environment. Its rise occurred more in the later stages after the MEME bubble had burst. At this point, market enthusiasm had significantly cooled, and investors' interest in high-risk projects had gradually waned. Although BNB Chain attracted a certain degree of development activity by leveraging Binance's ecosystem support and the window of opportunity provided by Solana's cooling and OKXDEX's suspension of aggregator trading services, its MEME projects failed to produce many phenomenal success cases like those on Solana. It also lacked many large-cap representative projects. This timing mismatch made it difficult for BNB Chain to replicate Solana's glory during the MEME boom. Moreover, the sluggish broader market environment further exacerbated this disadvantage, resulting in its consistently inferior community culture and market influence compared to Solana.
Overall, while Solana has established a "moat" with its technological advantages and cultural core, it faces the risk of stalling due to excessive speculation and stability issues. BNB Chain, on the other hand, has shown the potential to catch up through steady layout and external support, but its cultural depth and long-term appeal remain to be tested.
MEME Cultural Core: Wild vs. Official
In a sense, Solana's MEME ecosystem leans towards a "wild" cultural melting pot driven by community spontaneity. The core feature of Solana's MEME coins is their strong community-driven nature, which is not entirely dependent on centralized forces but rather stems from the enthusiasm and creativity of community members.
The diverse types of MEMEs extend from traditional internet culture to crypto-related gags, demonstrating the breadth and depth of its ecosystem. Animal-themed MEMEs are the most recognizable type in Solana's ecosystem, capturing community attention through humorous or absurd narratives. For example, the dog-themed Bonk community's resistance to centralization, the community-driven creativity of the WIF with a hat, and the internet-famous POPCAT meme, which originated from the Oatmeal cat meme, have all extended their viral life on-chain. PolitiFi MEMEs, which focus on real-world political hotspots and blend satire with speculative attributes, have amplified their influence through community sharing and derivative content creation. For instance, TRUMP, created by Trump supporters, and PNUT, inspired by the New York squirrel incident, are seen as symbols against excessive government regulation. Endorsed by celebrities like Musk and Trump, these MEME coins have adopted a "celebrity + community co-creation" model, where external momentum is injected while the community continues to amplify their influence through spontaneous creation. Technical gags like LLM, Solana Killer, and TPS often accompany technical discussions, attracting developers and tech enthusiasts. Internet culture-related MEMEs such as Fartcoin, BOME, and Gigachad often feature strong visual impact and simple slogans, achieving viral growth through community-driven creation and dissemination.
In contrast to Solana's "wild" nature, BNB Chain's MEME culture relies more on celebrity effects and external momentum from the Binance platform. Its ecosystem functions more like a "processing plant," with creativity and dissemination highly concentrated around Binance's core figures (mainly CZ and He Yi) and official narratives. While this model can quickly generate buzz in the short term, it falls short of Solana in terms of type diversity and cultural resilience. For example, TST, originating from a BNB Chain team tutorial video, owes its popularity to the Binance brand's halo and the indirect influence of founder CZ. Mubarak benefited from the investment hype of the UAE sovereign fund MGX and a boost from CZ. BROCCOLI revolves around CZ's pet dog, while Binance Card stems from Binance's early construction efforts.
Of course, Solana co-founder toly has also supported some MEMEs through retweets and likes, but his personal influence pales in comparison to CZ's. Moreover, the projects he favors hold a relatively small share within Solana's overall MEME ecosystem. In contrast, the CZ effect on BNB Chain is very pronounced. Leveraging his strong appeal in the crypto world, his every utterance can trigger a concentrated influx of funds and attention.
Although this top-down model can quickly ignite momentum based on Binance's traffic foundation, it also restricts the community's creative space, falling short of Solana in cultural diversity and resilience. That said, there are some community-driven MEMEs on BNB Chain, such as Cheems, Floki, and Babydoge, all attempting to replicate the success of the classic DOGE MEME coin.
MEME Construction Logic: Mass Coin Creation vs. Curated Alpha
Solana's MEME culture benefits from the "mass coin creation" model of platforms like Pump.fun, which significantly lowers the barrier to token creation. This allows any idea to quickly transform into an on-chain asset. This low-cost, high-efficiency mechanism greatly stimulates community creativity, further enriching the experimental nature and vibrancy of Solana's MEME ecosystem.
However, the drawbacks of this model are also evident. Project quality varies widely, with most MEMEs quickly returning to zero after short-term speculation, lacking long-term viability. The market is filled with speculators chasing quick profits, while projects with real cultural value or community foundations are often drowned out by the noise, making it difficult to nurture a sustainable community ecosystem. Solana's MEMEs resemble an open creative marketplace where anyone can set up a stall, but the quality of these stalls is highly inconsistent.
In contrast, BNB Chain adopts a more cautious strategy in its MEME ecosystem. For example, Four.meme provides low-threshold startup opportunities while offering funding support to promising projects through an ecosystem fund. Although this "curated rather than flooded" approach somewhat limits grassroots creativity, it significantly enhances the stability and development potential of the ecosystem. In this sense, BNB Chain is more like a gated incubator, filtering out low-quality projects to provide a more reliable growth environment for its MEME ecosystem. This is also reflected in the rarity of MEME speedrun scripts.
Binance's vast resource support and BNB Chain's funding are significant advantages for its MEME ecosystem. Binance's hundreds of millions of users worldwide provide a substantial exposure base for MEME tokens. Moreover, Binance's marketing capabilities (such as the Alpha program and official announcements) can quickly bring projects to a broad audience. Binance's recent innovative measures have further strengthened this advantage. For example, the Binance Alpha 2.0 test version launched for certain countries/regions is directly integrated into the Binance exchange, bridging the gap between CEX and DEX. This provides MEME tokens with higher liquidity, capital efficiency, and accessibility. Binance also launched a full compensation campaign for "sandwich" losses for Binance Alpha trading users. Binance Wallet's six-month zero-fee trading activity further reduces participation costs, attracting more users to try MEME projects. In addition, BNB Chain's $4.4 million permanent liquidity support plan launched at the beginning of 2025 provides financial security for early-stage projects. This dual support of funding and traffic is currently unattainable by Solana's MEME ecosystem.
Infrastructure Development: Diverse Choices vs. Ongoing Construction
Solana's rise as a core hub for MEMEs is inseparable from its efficient infrastructure. First, Solana's superior transaction processing speed and extremely low transaction costs make it the preferred platform for MEME development. These characteristics not only perfectly match the viral nature of MEMEs but also naturally suit the "fast in, fast out" speculative culture of MEME coins, meeting the needs of high-frequency speculative trading. At the same time, Solana has built a full-chain ecosystem that provides seamless support for the creation and promotion of MEME projects. From DEXs (such as Raydium, Jupiter, and Orca), to user-friendly wallets (such as Phantom, Solflare, and OKX Wallet), to convenient launch and trading tools (such as Pump.fun and Moonshot), Solana offers a comprehensive suite of tools. In addition, third-party tools further enrich its ecosystem, such as GMGN, Dexscreener, trading bots, and RugCheck. This combination of analysis and trading tools significantly lowers the user participation threshold, allowing ordinary users to quickly engage in the MEME ecosystem.
In comparison, BNB Chain is also competitive in terms of technical performance, with gas fees far lower than the high-cost environment of Ethereum, providing an economic foundation for MEME project development and trading. However, BNB Chain is slightly inferior in terms of innovation and the diversity of its tool ecosystem, with a relatively conservative infrastructure development. Currently, BNB Chain's DEX trading ecosystem is highly dependent on a single platform, PancakeSwap, lacking the diversified choices of Solana. Moreover, the recent surge in trading activities has also provided a breeding ground for "sandwich" attacks on BNB Chain, especially for newly launched MEMEs with low liquidity, which have become hotspots for such attacks, resulting in significant losses for retail investors. Additionally, the completeness of its supporting facilities is insufficient, and the overall richness of the ecosystem and user experience still need improvement. More notably, the security of DEX trading on BNB Chain has exposed certain risks. For example, the recent incident where attackers exploited a vulnerability in Four.meme to steal liquidity pool funds may weaken user confidence in its ecosystem to some extent.
Market Timing: Bottom Bounce vs. Sharp Decline
Solana's high performance and low costs made it an early hotbed for MEME experimentation. Starting from the end of 2023, the market was at a critical stage of bottoming out and rebounding from the previous bear market. Market sentiment gradually warmed up from the trough. Phenomenal MEME projects on Solana at that time (such as Silly and BOME) created a strong demonstration effect, igniting community enthusiasm and attracting more developers, investors, and community members. At the same time, Solana nurtured a community-driven culture. This cultural force not only enhanced user stickiness but also formed a strong sense of identity, solidifying its market position. Although other blockchains also developed their MEME ecosystems during the same period, they failed to seize the rising tide of the trend as accurately as Solana and lacked a similar cultural cohesion, making it difficult for them to compete.
In contrast, BNB Chain's trajectory in MEME development has been constrained by both market timing and the broader environment. Its rise occurred more in the later stages after the MEME bubble had burst. At this point, market enthusiasm had significantly cooled, and investors' interest in high-risk projects had gradually waned. Although BNB Chain attracted a certain degree of development activity by leveraging Binance's ecosystem support and the window of opportunity provided by Solana's cooling and OKXDEX's suspension of aggregator trading services, its MEME projects failed to produce many phenomenal success cases like those on Solana. It also lacked many large-cap representative projects. This timing mismatch made it difficult for BNB Chain to replicate Solana's glory during the MEME boom. Moreover, the sluggish broader market environment further exacerbated this disadvantage, resulting in its consistently inferior community culture and market influence compared to Solana.
Overall, while Solana has established a "moat" with its technological advantages and cultural core, it faces the risk of stalling due to excessive speculation and stability issues. BNB Chain, on the other hand, has shown the potential to catch up through steady layout and external support, but its cultural depth and long-term appeal remain to be tested.
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