After slamming Bitcoin at last year's shareholder meeting, Warren Buffett said again this year, "I am not going to buy Bitcoin."

Warren Buffett gave the example that if he were to acquire 1% of all farms or 1% of all apartments in the United States for a hypothetical price of $25 billion, he would make the sale. But if someone were to sell him all the Bitcoins for $25, he would not buy them.

Buffett explained that farms and apartments are productive, they have output and rent, while Bitcoin is not a productive asset and its value depends on how much the next buyer is willing to pay the seller. There are a lot of people involved in this game right now, but these Bitcoins are just changing hands between different owners, and that's why some people make money and some people lose money.

Of course, Warren Buffett's series of bearish comments on Bitcoin sparked backlash and mockery from cryptocurrency supporters, with Tesla CEO Musk getting in the debate.

Marc Andreessen, a pro-cryptocurrency American billionaire and venture capitalist, tweeted a video clip of Warren Buffett talking about Bitcoin on multiple occasions and commented "It's crazy that he's still nakedly peddling diabetes when he says these things.", making a reference to Buffett's attendance at a shareholder meeting where a Hershey's candy was purposely placed on the table.

Musk responded under Anderson's video saying, "LOL, he said 'Bitcoin' so many times."

Bitcoin holder, MicroStrategy founder and CEO Michael Seiler also took note of Buffett's latest comments, sarcastically stating, "Everyone keeps talking about Bitcoin." 

In addition to Buffett's shareholder meeting, the cryptocurrency world has been buzzing with activity recently.

On May 5, the Federal Reserve announced its first interest rate increase of 0.5% since May 2000, in line with market expectations. In a press conference, FED Chairman Jerome Powell said he was not "actively considering" a deeper rate hike, emphasizing the "soft landing" of the economy and suggesting for the next two meetings that a 0.5% rate hike could be possible. The news soothed the crypto market, with Bitcoin briefly rising to nearly $40,000, up 5.6% in 24 hours, according to data from the BizTrust terminal.

The Bored Ape Club (BAYC) is undeniably the leader of the Non Fungible Token (NFT) market. But while proofs of interest are being purchased by collectors at high prices, others on the internet are free to copy, use and share the series' NFT resources. Recently, for example, the maverick tech mogul Elon Musk changed his Twitter avatar to a BAYC collage.

This move can be a side reflection of Musk's concern for the Metaverse, NFT, and especially WEB3.0, and the intention to promote their development.

With his high-frequency posting and interaction, Musk has more than 89.26 million followers on Twitter, making him and Donald Trump the most famous KOL duo in the history of Twitter communication. And after Trump was blocked, Musk also expressed his dissatisfaction with Twitter's arbitrary deletion, blocking and algorithmic dictatorship, and aspired to make drastic changes to the proliferation of fake accounts and the advertising-based profit model.

On April 25, social media platform Twitter Inc. chose to accept Elon Musk's buyout deal, which Musk will complete for $54.20 per share in a deal that will close within the year. After Musk completed his operation on Twitter, he excitedly said on social media: “I hope even the worst critics will stay on Twitter because that's what freedom of speech is all about.”

By looking at Musk's vision of the future on the Twitter, we can easily see that although it is difficult to turn a privatized Twitter into a fully Web 3.0 social platform, the Twitter of Musk's era will still have some of the attributes of a Web 3.0 social platform.

Jack Dorsey, the founder of Twitter, who has actively embraced Web 3.0, also expressed his dissatisfaction with the current business model of Twitter's dependence on Wall Street and advertisers: "Musk's retraction of Twitter from Wall Street is the first step in the right direction for Twitter. In principle, I don't think Twitter should be owned or run by anyone, and it should be a public product at the level of an agreement, not a company. However, to solve this problem, Musk is the only solution I trust, and Musk will create a platform of maximum trust and broad inclusion, which is the right goal and why I chose him."

The river of history is rushing, and a Web3.0 revolution has come quietly.

MEME Exchange is a full-featured WEB3-based decentralized cryptocurrency exchange. The main focus is on U-based contracts, supporting USDT withdrawals for the ETH network and USDC for the TRON network. After adding funds to the platform's contract address, the system's smart contract will issue an equal amount of USD to start trading on the platform. Most importantly, users will control the funds from their wallets, increasing transparency and trust in transactions. On MEME Exchange, users are considered to be registered as official MEME users when they connect to the platform using a wallet address on any of the supported public chains and deposit assets.

With an improved performance of the underlying public chain and breakthroughs in smart contract, sidechain and cross-chain technologies, MEME Exchange has greatly improved asset security, transaction process design, order aggregation, and on-chain transaction speed, gradually reaching a user experience comparable to that of centralized exchanges. It also has advantages that are ahead of other decentralized exchanges, such as multi-chain asset support, open source smart contracts to control the whole process of asset interaction, decentralized asset isolation and identity verification, data ownership and value transfer, etc.

The decentralized, de-trusted and tamper-proof nature of the blockchain fits well with the Web3 identity: creating a new Internet that respects the concept of "individual value". The MEME Exchange user experience will cover a wide range of categories and, together with a multi-layered ecosystem from multiple chains, will contribute to the development of a multi-decentralized exchange ecosystem, which is a huge step forward for Web 3. 

Web 3, as the next wave of the era, aims to break the monopoly of Internet giants and build a more decentralized network. In this environment, the Web3 revolution has quietly begun with MEME Exchange leading the development of decentralized exchanges.

“I Love Twitter”, “How much is it”, if you like it, buy it, said Musk.

On April 25, sources close to Musk said he would buy Twitter for $54.2 per share, valuing the company at $44 billion overall, in a deal expected to close this year.

Twitter was once popular for its new media properties, making it one of the most bullish social media platforms in the last digital economy. But the social platform then faced internal disagreements within the founding team, a less-than-expected YoY profit and no good technological innovation which lead to a bottleneck. Twitter’s situation is not unique in the U.S. social media world, and many former social media giants are facing similar difficulties. On the one hand, these companies reached an impasse in their innovation ability and their user penetration rate hit its limit, so they are no longer favored by speculative capital. On the other hand, outside capital is also looking out for them, hoping to cash in on their user resources and channels through horizontal or vertical mergers and acquisitions to form a larger monopoly.

The financial data shows that Twitter has been in poor operating conditions in recent years. 2021 revenue was of $5.08 billion, with a net loss of $220 million. Looking at its recent performance, Twitter has failed to achieve profitability for five of the past seven years. Musk’s arrival may really bring some new ideas and vitality to Twitter. There is no doubt that Twitter is still one of the most popular social platforms in the world, with 192 million daily active users. The number of Musk’s own followers on Twitter exceeds 80 million.

According to Musk’s statement, the main intention of acquiring Twitter is to make it a bastion of free speech — “a platform that is trusted to the greatest extent and is broadly inclusive is critical to the future of civilization”.

Earlier this month, Musk spent $2.89 billion to acquire a 9.2 percent stake in Twitter Inc. and became the largest shareholder. In fact, his move to increase his stake in Twitter began in mid-March and has been going on for more than half a month, only to be officially announced on April 4, catching the Twitter board off guard.

But Musk isn’t satisfied with being a majority shareholder: the takeover we’re discussing today means that Musk plans to have complete ownership of the company.

“I invested in this company because I believe in its future as a platform … but I now realize that this company in its current state is not going to grow and serve society as a whole,” wrote Musk in a letter to Twitter Chairman Bret “Twitter needs to be changed in a private way.”

It’s the same drama as when he took over Tesla by force.

Musk decided to buy all the shares of the company for $54.2, which is expected to cost a total of $43 billion. This price represents a 54% premium to Musk’s previous low-key acquisition of Twitter shares, and a 38% increase in share price compared to the previous acquisition when the results were officially announced. Musk believes this takeover is the best possible outcome for the company’s board and other investors, “This is my final offer, and if it is not accepted, I will reevaluate my status as a shareholder.”

Following the agreement between the two sides, Musk issued a statement saying that freedom of speech is the cornerstone of a functioning democracy and that Twitter is the public square of the digital age and it’s vital to the discussion of the future of humanity. I also helped make Twitter better by improving the product with new features, opening up the platform’s algorithms to enhance trust, fighting fake accounts and verifying all human users.

Prior to acquiring Twitter, Musk expressed his frustration with Twitter’s actions, such as randomly deleted and blocked accounts, denial of user rights to free speech, algorithmic monopoly, personal social data leaks, and more.

In the Web2 era, social media platforms operate under the monopoly of Internet giants. While platforms are growing and developing at a fast pace, operators are profiting from social data without any boundaries, while creators and users are always vulnerable, unable to prevent their personal data from being misused by the platform and unable to get reasonable revenue from it.

This time, the biggest implication of Musk’s entry into Twitter is to complete Web3 through Twitter, who will then take it to the next level in terms of innovation and growth combined with Web3’s future growth space.

This shows how creating a free, open and equal decentralized social platform has become the vision of many Web3 projects. Decentralized platforms based on blockchain networks are being upgraded with technology and models by fusing DeFi and DAO to create a new way to interact with decentralized finance — DEX.

Such projects try to return voice and data ownership to users, and promote community collaboration and co-construction (including censorship, distribution, etc.). Through the framework of DAO governance, creators can tokenize their influence and earn revenue through mechanisms such as content mining, avoiding the high intermediary fees of the platform. In addition, with the help of some privacy protocols, the problem of personal data leakage will also be solved properly.

The decentralized, de-trusted and tamper-proof characteristics of blockchain are well aligned with the goals of Web3.0: creating a new Internet that respects the concept of “individual value”. MEME Exchange based on Web3.0 has filled the gap of the current market and is a trend for future development. The user experience from MEME Exchange portal will include multiple categories and together with the multi-layered solution it will contribute to a many-to-many decentralized exchange ecosystem, which is a major benefit to the entire Web3.0 industry.

MEME Exchange wants to launch a new decentralized revolution to realize the vision of both DeFi2.0 and Web3.0. Breaking the boundaries between traditional centralized and decentralized exchanges, solving blockchain ecosystem challenges and taking trading to the next level. It offers not only a more robust user experience, but also exponentially improved levels of trading performance and scalabilities, such as releasing fragmented liquidity pools from multiple chains, offering better prices than competitors, a user-friendly trading experience with zero slippage, and lower Gas fees.

On MEME Exchange, users can connect to MEME without registration as long as they have a wallet, guaranteeing absolute autonomy and privacy by keeping their funds stored in their own wallets. Asset interaction is carried out through smart contracts which cannot be altered, ensuring 100% openness and transparency of transactions. Moreover, MEME exchange has been realized to support cross-chain, multi-chain, multi-currency and multi-asset transactions to achieve value flow, which greatly enhances the liquidity of decentralized exchange assets.

The decentralized and transparent Web3 network is what people really need. Perhaps, Musk’s acquisition of Twitter is an attempt to make Twitter a real asset by continuing to be the infrastructure of the next-generation Internet speech environment. In the same way, MEME Exchange wants to shape the future of Web3 exchanges.

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Recently, the U.S. Securities and Exchange Commission disclosed that Tesla CEO Elon Musk bought a 9.2% stake in Twitter. The “Influencer” Musk finally joined Twitter’s board of directors, and his term will last until 2024. Once the news came out, Twitter’s share price jumped 27.12%, the biggest increase since its IPO. Why is the social media platform Twitter so attractive to Musk, and why is there a rumor that Web3.0 might actually be Musk’s real goal?

Twitter CEO Agrawal tweeted, “Musk is both a passionate believer in this platform and a fierce critic of it. This is exactly the kind of person Twitter and its board need to make us stronger in the long run. Welcome Elon!”

What is Twitter’s cap?

Twitter has been heavily discussed lately and has become a target of attacks by different interest groups. A but over a year ago in February 2021, Twitter’s share price has fallen by more than half. Currently, Twitter’s market capitalization stands at $40 billion, a large gap between the market capitalization of rival social media giant Meta, for example.

As a result, a lot of analysts are arguing that Musk will try to take a more active role in the operation of Twitter. Some of them even pointed out directly that “for Musk, there would be no such thing as passive ownership, he would obviously do a great job.”

Musk’s fortune has been growing steadily, and no one seems to be able to stop him. CNN reporter Brian Stelter commented on Musk becoming Twitter’s largest outside shareholder: “The richest man on the planet has just bought a huge chunk of one of our most important communications tools. He’s also the owner of one of the largest satellite networks in the world. He’s very powerful, unbelievable.”

Why did Musk join Twitter?

As of now, Musk has more than 80 million followers on Twitter, and he keeps updating almost every day, sometimes dozens of times a day, even more then Trump. He is also known as “one of the most tweeting people on the planet”.

But Musk also has had a long-standing beef with Twitter, especially due to the alleged lack of respect for free speech. He can’t stand that Twitter arbitrarily decides what tweets can be published. He believes that this power should be returned to the users.

Earlier this year, Musk again criticized Twitter for failing to uphold the principle of free speech and said he was considering a new social media platform.

After the news of Musk’s stake in Twitter, one of the most talked about topics in the industry is how much actual control he can have over the company in the future.

But on April 11, news broke that Musk had given up joining the board. In response, the SEC disclosed documents on Monday also pointed out that after Musk gave up joining the Twitter board, but he will express his views to the board or the public at will “through social media or other channels”.

After refusing to join the Twitter board, Tesla CEO Elon Musk is no longer restricted from holding more than 14. 9% of the shares and he is able to participate in discussions about the management of Twitter.

Although Musk is rich, he likes to focus on the trajectory of his long term investments.

Especially after 2000, in addition to the Tesla and SpaceX, Musk is heavily invested in the field of artificial intelligence with OpenAI and a few large companies, so it is easy to imagine that he must have greater ambition for Twitter as well.

Musk and Twitter co-founder and former CEO Jack Dorsey have maintained a very close personal relationship, both being Silicon Valley heroes and tech sympathizers.

Not only do they interact frequently on Twitter, but in real life, they often get together to eat, drink and chat, and attend industry forums and expert conferences together.

One of the more profound setbacks was the decline of web 3.0 at the end of last year, with Musk tweeting several times to question it and Jack Dawsey later joining the criticism, saying the emerging phenomenon was more of a “buzzword” than a realistic “reality”.

It’s also worth noticing that this is one of the aspects of him and Jack Dawsey’s highly compatible values. They both share the idea of shifting the power of social networks fundamentally to users, rather than to the industry giants that have always shrouded and influenced freedom.

Later, after tweeting that Web 3.0 is a marketing term at this stage, Musk also said, “But we’re very curious to see what the world will look like 10, 20, 30 years from now. In the comments section of the video, Musk replied to a comment “The best way to predict the future is to start building it,” Musk said, “Yes”.

It is clear that Musk may already be building the future Internet in his mind. Although Musk has repeatedly “criticized” Web 3.0, he has not completely denied the concept, but has criticized the current development of the phenomenon that deviates from the essence of Web 3.0.

With his investment in Twitter, Musk wants to create a more equal and open speech environment.

It’s not impossible to move from Twitter to Web 3.0.

Along with Metaverse and NFT, Web 3.0 has been a buzzword in recent discussions about the next generation of the Internet. The core idea is to return production and ownership to the users who participate in the ecology and use the platform, instead of being owned by the Internet platform or the few people who control the Internet platform companies. Like NFT, Web 3.0 is also envisioned and practiced by blockchain technology support, though it is still in its early embryonic stage.

In the concept of Web 3.0, every user is a creator who participates in running the Internet environment in the future, instead of being a tool for generating traffic to earn advertising fees. In the future Web 3.0 community platform, the creator can use the content and influence he has built to get direct income, and even have the right to vote on the development direction of the platform and content regulation themselves.

Web 3.0’s most important feature is to facilitate the “elimination of authority” in the Internet, and some go as far as saying that Web 3.0 will be a total victory of the public against the giants.

Musk previously expressed his opposition to the Metaverse. In fact, he is against the VR headset to be used to access to the Metaverse, which is a direct critic to the Metaverse made by Facebook’s Meta.

Musk will probably overtake Twitter next, transforming every tweet into a digital asset that can generate corresponding revenue, attracting more traffic in line with the needs of the day.

With his refusal to join Twitter, it’s clear that Musk wants to make an effort in creating a more equal and open environment, and perhaps make the first step towards a future world. Perhaps it is Musk who wants to build the Web 3.0.

Web3.0 DEX is a revolution that disrupts the boundary between CEX and DEX, pioneered by the MEME Exchange, a Web3.0-based decentralized exchange (DEX) that aims to break the boundary between traditional centralized and decentralized exchanges, solve the blockchain ecosystem’s challenges, and take trading to a new level. It offers not only a more robust user experience, but also exponentially improved transaction performance and scalability levels, such as liberating decentralized liquidity pools from multiple chains, offering better prices than competitors, a user-friendly transaction experience with zero slippage, and lower gas fees.

On the MEME exchange, users do not need to register, as long as they have a wallet to link to MEME, guaranteeing absolute autonomy of control and privacy with their funds stored in their own wallets. Asset interaction is carried out through smart contracts, which cannot be tampered with and ensure 100% openness and transparency of transactions. Moreover, MEME exchange has been realized to support cross-chain, multi-chain multi-currency and multi-asset transactions to achieve value flow, which greatly enhances the liquidity of decentralized exchange assets.

The outbreak of the Russian-Ukrainian war and the mutual blocking of sovereign social networks announced the fall of the Web2 era, and the rapid development of the times pushed the birth and application of new technologies, and the Web3 era marked by the MEME exchange is coming!

Since November last year, market enthusiasm has gradually shifted from the GameFi to the NFT market, and the GameFi projects have stayed in the doldrums. Even the leading player Axie Infinity saw its governance token AXS suffering a drop of over 60% from its ATH. Although from time to time we can read some news about GameFi projects getting financed, the market focus is still on the NFT market, especially the PFP segment.

On March 12, Yuga Labs announced the acquisition of the CryptoPunks and Meebits NFT series developed by Larva Labs. Yuga Labs plans to open up the full commercial rights of these two NFT series to holders.

The acquirer, Yuga Labs, is the parent company of Bored Ape Yacht Club (BAYC), and Yuga Labs says the BAYC ecosystem will continue to be the "center of its universe." On March 17, Yuga Labs announced the launch of the APE token, and an airdrop for BAYC and MAYC holders, successfully involving the crypto community. According to the official tweet, $APE is a token that symbolizes the crypto culture, gaming and commerce and will be used to build a decentralized community exploring the frontiers of Web3.

After Bored Ape, STEPN, which launched the "Move to Earn" model, has become the most recent hot trend in the GameFi circuit and is currently Solana's #1 ranked game. It is ranked fourth in the Japanese app market and third in the US sports app. Currently, STEPN has more than 60,000 daily active users. According to CMC data, its governance token GMT rose 200 times in half a month, and the 24-hour turnover reached $589 million, far exceeding BTC and ETH. Therefore, we can see how the crypto market doesn't lack money but innovative projects, and when these come there will always be hype, and they'll attract attention naturally.

From play-to-earn's Axie, to write-to-earn's Monaco, to move-to-earn's StepN, a new game can always attract a lot of attention in a short time. In terms of game setup and token model, StepN is not fundamentally different from Axie (at least as of this moment), but its game experience will give people a sense of "out of the loop", providing a long-awaited buzz to the market after the first quarter of downturn.

In the midst of all the praise, STEPN has also been accused of being a rip-off of QUBU. However, a careful analysis of the economic model and gameplay of the two shows that there are essential differences. QUBU's economic model turned out to be a Ponzi scheme that involved payment of dividends to people and the issuance of more and more passes without any consumption scenarios, which eventually led to the collapse of prices and the failure of the project. The goal of STEPN is to promote a healthier lifestyle for millions of people and bring them into the Web 3.0 world, while making a positive contribution to carbon neutrality.

StepN has quickly become a global phenomenon, sparking extensive conversations within the industry. Its success is a result of many things: the choice of a niche market; the satisfaction of user needs; the rapid development and implementation of the team; the thoughtfulness of the economic model and gameplay; the support of a large number of industry leaders and the Binance platform IEO.

So, what does STEPN's future look like? To paraphrase a famous basketball saying, maybe the sky is the limit for them. Some speculate that with the current growth trends, this Web3 app could become the next Axie Infinity, and possibly even surpass Axie Infinity, as its product appeals to an audience that is not limited to the Web3 space, but combines the power of both fitness and crypto. Now, the STEPN team is ready to scale and innovate quickly, while thinking strategically ahead in game design and community management to build a solid foundation to support long-term and sustainable growth.

Of course, one of the main reasons why STEPN has made a huge impact on Web3 is their real-world reach, leveraging Web3 while helping people "disengage" from it and enter the real world.

Web3 is already changing the way users interact online, from the way we invest and exchange value, to the games we play, to our artistic and creative expression on social media, or whatever happens next. More and more users and institutions around the world are seeking the power of Web3's de-trusted, immutable and verifiable financial protocols. MEME Exchange might be the next big breakthrough in the industry.

MEME Exchange is the world's first Web3 exchange, which requires no KYC to register and a simple wallet authorization to participate in crypto transactions. The trading platform' main features are lightweight protocols, secure transactions, professional service, contract-focused trading system, and ultra-high performance.

According to the publicly available information, MEME's trading platform is built by a team of financial experts and network engineers from different countries. Based on the huge capital market of Web3 exchanges and the strong team behind it, MEME Exchange has been highly evaluated by the industry before it was launched.

Undoubtedly, with the support of both team and capital, MEME Exchange will quickly profit from its first-mover advantage in the Web3 industry. The coming of the MEME Exchange might completely disrupt the contract trading market, causing a large number of contract traders to enter the Web3 for the first time and trigger the next hot trend.

Web 3.0 is a strongly mentioned word in recent years; it is more often defined as “next generation Internet” or “new Internet era”. The deeper definition of Web3.0, or its mission, value, and interaction, has not yet been accurately defined. But it is undeniable that Web3.0 era will give us a perfect value interactive network.

The advent of Web3 is driving transformative change in human activity and value, and collaboration among distributed communities and stakeholders is becoming increasingly important. DAO bridges the gap between participants around the globe around the same mission or goal, and the real meaning behind DAO is that the collaboration of capital and talent across the globe at scale is accomplished in an instant.

On November 18, 2021, ConstitutionDAO announced its participation in the auction [a copy of the U.S. Constitution] at Sothby’s. In just one week, it attracted 17,437 contributors from and raised over $47 million through DAO, and although it ultimately failed to participate in the auction, their community autonomy token: $PEOPLE in just one week rose over 60 times and became an instant industry hotspot.”

“On December 15, 2021, Ali Yahya, a general partner at leading investment institution a16z, announced on social media that a16z is investing in PleasrDAO, a decentralized autonomous organization. a16z said that DAOs like PleasrDAO are the foundation of Web3. They are a new form of economic organization native to the Internet that enables people to collaborate and achieve goals at scale.”

This year, Bored Apes collector Kylo.eth launched APE DAO.

They split 49 Bored Apes Yacht Club (BYAC) NFTs and one female cryptoPunk into 1,000,000 APED tokens and launched APE DAO this June. notably, the token was not created by Yuga Labs, the developer of BAYC. It was created by ApeCoin DAO to demonstrate decentralization.

ApeCoin DAO launched ApeCoin, a new governing authority of which all APE holders are members. Its purpose is to collect community proposals, which token holders can then vote on. Apecoin is aimed at the web 3.0 economy. It is a community-controlled, built-in token designed to support culture, gaming and commerce.

The coming of the DAO in the Web 3.0 world has innovatively solved these problems. The elimination of hierarchy, the elimination of power consciousness, community maintenance, shared decision making and full benefit sharing were previously unimaginable, and although DAOs are looser organizations than corporations, their advancement cannot be ignored. DAO is a breakthrough from the private organization to a relatively “communal” state, in which everyone has the right to propose and vote, providing a transparent and equal system for the establishment and operation of the organization. In short, it is more user-centered.

MEME Exchange is the world’s first Web3 decentralized digital asset trading platform, an ecosystem of user co-construction, privacy protection and platform openness, a new trading system built by a decentralized organization form of platform.

MEME DEX is more user-centered, so digital identity authentication, privacy protection, data validation and decentralization are its key advantages. This is a natural fit with blockchain technology and is one of the reasons why MEME DEX is called a “web 3.0 exchange”. In the context of the “Internet of Value”, MEME DEX allows users to create a decentralized and universal digital identity system on their own. The relevant user data can be stored in a distributed database, managed by the user only, and authorized by the user to operate with what identity information, to ensure the user’s data rights and value attribution, while protecting privacy and security, coupled with smart contracts and other technologies to help achieve a fairer business model. At this point, the centralized Internet service providers will evolve into decentralized cryptographic protocols, using the pass-through economic system to allow users to directly participate in the development and decision-making of the platform. Users will not only be users of the platform, reaping the value generated by data while freely creating content, they will also hold the right to speak about community governance and product development, and the collective demands of users will become an important basis.

Web3.0 hopes to break the barriers of Internet giants and make user data information and value truly their own, which is also the vision of MEME DEX. Many people in the industry also see MEME DEX as the next generation of digital asset trading platform for this reason. It has extremely realistic guidance and business value for the development of web3.0.

With the appearance of Web 3 and the rise of the Metaverse concept, people have spontaneously created countless extended group spaces. MEME DEX will disrupt existing digital asset trading platforms from three perspectives: openness, privacy and co-construction, creating a decentralized world led by user communities and reconfiguring the Internet traffic value paradigm.

Since the early 90s, the boom of the Internet has changed the way all of humanity lives, communicates and operates economically. The Internet is now undergoing a paradigm shift from Web2.0 to Web3.0. If Web2.0 was an upgrade from of Web1.0, Web3.0 is now looking to revolutionize Web2.0. We may hear about AI, blockchain, big data IoT and other technologies frequently, but it is difficult to understand what kind of changes these underlying technologies and innovations will bring from the user's perspective, and what Web3.0 represents for the average person. 

What is web3.0? 

Web3.0, also known as Web3 (we will use Web3 below instead of Web3.0), was first introduced by Gavin Wood, co-founder of Ether and creator of Polkadot, in 2014. 

Simply put, Web3 will be a new network system with features such as decentralization, openness, artificial intelligence, and high value addition, where all the interactive features typical of Web2.0 become more powerful. In the industry's prediction, Web3 collects blockchain, AI, AR, VR and other technologies that can decentralize almost all applications, giving users access to absolute privacy and open Internet space.

Why do we need Web3? 

Looking back at the history of Internet development, in the Web1.0 era, the Internet was basically a read-only network with content produced by website operators. Web 2.0 era created a new model of interactive network led by the production and sharing of user content, which gave the Internet a new value carrying feature.

However, problems have soon become evident. Examples include the emergence of firewalls, the creation of a closed ecology of applications, and the monopoly of centralized servers. All this has deviated from the original purpose of the Internet. 

According to the 2022 "Global Internet Phenomenon Report" released by Sandvine, a network monitoring company, Google, Facebook, Netflix, Amazon, Microsoft and Apple are the six companies that generate more than 56% of global web traffic. And they already generate more traffic in 2021 than all other Internet companies combined. Users of major Internet services are served by centralized subjects who control their accounts, privacy, and interactions and shape the current development of the Internet world.

You could say that we are like a group of children using parts of the Internet under established rules. For example, when I use WhatsApp to chat with a friend, I need to raise my hand and tell an adult (the server) what I said to my friend, and then the adult (the server) goes and relays it to the other person. Even though this process is extremely quick, there is no denying that the adults (servers) have all our chat data and can decide what not to send.

This is the case in almost all Web2.0 applications, where not only our data and privacy are not properly protected, but even the content we create doesn’t truly belong to us. Originally, Web2.0 was intended to create an Internet world where users and platforms would be mutually fulfilling, but unfortunately, "the dragon slayer grew scales". In the process of replicating the socio-economic structure of the Internet in the physical world, the technology giants clutched the control and completely put the spirit of the Internet, which represents "freedom, equality, openness, cooperation and sharing", on the shelf. The upgrade from web1 to web2 did not solve the problem of centralization, but with the massive online transmission of information and data, the problem of centralization became more and more prominent.

Do the centralized Internet industry giants really exist to provide value to users? Obviously not, these giants exist for the benefit of shareholders and investors, and for this reason they have shaped the current set of rules of the Internet world in which users "sell" their private data and attention (traffic) in exchange for services. As a consequence, the concept of using user data and traffic as fuel also drives the definition of the four major cash models: games, advertising, e-commerce, membership services.

Therefore, people started to demand a decentralized and transparent network such as Web3. The decentralized, de-trusted and attack-proof nature of blockchain is the tool that puts users in control of their own data and identities. Web3 fundamentally changes the traditional power structure of the Internet world.

Insights into the future of web3, MEME DEX makes its debut

MEME DEX is a fully functional decentralized cryptocurrency exchange and it’s the world's first web3 decentralized exchange. Users do not need to register but they can link to MEME DEX directly with their wallets. This guarantees that users' funds are kept in their own wallets, with absolute autonomy and privacy. Asset interactions are carried out through smart contracts, which cannot be tampered with and ensure 100% openness and transparency of transactions. Moreover, MEME DEX has been realized to support cross-chain, multi-chain multi-currency and multi-asset transactions to achieve value flow, which greatly enhances the liquidity of decentralized exchange assets.

In MEME DEX, users have 100% control of their assets through wallet applications such as Metamask and MathWallet. With these wallets, users can perform more flexible and free operations, with lots of options available. Also, they can interact directly with the different applications on the underlying protocol to complete various complex operations to save time.

The decentralized, de-trusted and tamper-proof characteristics of blockchain are well aligned with the characteristics of Web3: creating a new Internet that respects the concept of "individual value". MEME DEX fills the gap in the current market and builds a trend for future development. The user experience from the MEME DEX portal will cover a wide range of categories and, together with the multi-layer ecology from multiple chains, it will contribute to a many-to-many decentralized exchange ecology, which will be a great step forward for the entire Web3 industry.

Web3's vision is to create an open, participatory, license-free, decentralized network for everyone. MEME DEX, a decentralized exchange based on web3, will soon shake the world.

Today's Internet – often described as Web2.0 – is so rooted in our lives that for most it’s hard to imagine a swift to Web3.0, a revolutionary value network that has yet to gain trust.

The era of WEB2.0 has seen internet giants as the core, with their multiple ecosystems and a semi-monopoly on users’ data, value and networks, that has created strong barriers among different ecologies. The most important resource in this kind of setting is traffic, the primary source of user attention and capital flow.

WEB3.0 era will provoke profound changes: a fully open network where users’ behavior will not be limited by ecological barriers, but will instead allow free movement in Web3 world; user data privacy will be protected by encryption algorithms and distributed storage; all content and applications will be created and led by users in a spirit of co-construction, shared governance and common participation in the values of the platform.

Meme DEX for an open, private and collaborative world

Blockchain and Web 3.0 go hand in hand. As an integral part of the new generation of information technology, blockchain is a new aggregation of distributed network, encryption technology, smart contract and other technologies. The introduction of decentralized Internet in Web 3.0 weakens the control of profit-seeking third parties over user interaction and value transfer. In essence, Web 3.0 provides the basis for P2P communication, payments, services and markets. It’s based on artificial intelligence, distributed storage protocols and more secure cryptosystems. Blockchain is playing an important role in the development of Web 3.0.

Meme DEX is a Web3 0's fully functional decentralized cryptocurrency exchange. It focuses on U-standard contracts and supports USDT recharge and withdrawal on Ethereum main network, and USDC on Tron network. After recharging into the contract address of the platform, the system will issue the same amount of USD in the platform to start the transaction. More importantly, users' funds are kept in their own wallets and under the users’ control, which improves the transparency and trust of transactions. In MEME DEX, a simple connection with a wallet address from any supported public chain and deposit will be regarded as successful registration and will be enough to become an official user of MEME.

With the improvement of the performance of the underlying public chain and the breakthrough of smart contract, side chain technology and cross chain technology, MEME DEX has greatly improved in terms of transaction process design, order matching and transaction speed on the chain, gradually reaching a user’s experience comparable to a Centralized Exchange. It also has the advantages of Multi Chain asset support, open source smart contracts to control the whole process of asset interaction, decentralized asset isolation and authentication, data ownership and value transfer, etc.

Multi Chain asset support

With the development of cross chain technology, multi chain and multi asset interoperability, smart contract transactions have become a reality. Meme DEX has implemented cross chain, multi-chain, multi-currency and multi-asset transactions in order to realize the transfers. The range of options available to users will also increase over time, greatly improving the liquidity of assets in decentralized exchanges. Open source smart contracts control the whole process of asset interaction.

Meme DEX does not store user funds and personal data on the server, but serves as an infrastructure to match buyers and sellers who want to trade digital assets. Such transactions occur directly between participants (peer-to-peer) with the help of a matching engine. It enables users to buy or sell tokens on the chain without having to look for a specific buyer or seller. And, unlike centralized exchanges (such as coinbase or binance), MEME DEX enables users to keep their assets in their control.

Decentralized asset isolation and authentication

The core of MEME DEX is "decentralized custody". In other words, in the process of transaction, no one can use your assets. Users always keep their assets in their own hands and they can meet their needs by operating only when they need currency exchange. In the whole process, digital assets are always on the user's own wallet address without going through any third party.

Privacy: transfer of data ownership and value

Data privacy has become the focus of global regulators. Meme DEX's solution is to introduce privacy computing and ensure that data is invisible in plain text through homomorphic encryption, multi-party secure computing, trusted execution environment and other technologies. In the era of Web3.0 users are more conscious about protecting their privacy and their data. With the decentralization of applications and the availability of data on the chain, users’ behavior-generated data and application protocols need privacy protection. Meme DEX has many functionalities focused on privacy protection, including basic blockchain platform privacy protection, stored data privacy (distributed storage), user private key management, anonymous protocols and so on.

Meme DEX is designed to be a decentralized and transparent platform promoting encryption technology to solve DEX users’ everyday problems such as buy and sell new assets safely and fairly and enjoy a smooth operation experience.

WEB3.0 is moving towards mainstream society

Currently, even if Web3.0 still has many development problems, it is slowly becoming a reality. On the eve of this innovation, many industries are full of excitement. For example, the concept of metaverse, which has been widely talked about in the past few months, seems to be possible only with Web3.0 technology; Also, new Internet of things and virtual network ecology composed of mobile phones, VR, AR, wearable devices and other hardware.

The large-scale application of this new technology will not be achieved overnight. There is no doubt that we are on the eve of the outbreak of Web 3.0, as new technologies and concepts emerge one after another.

MEME DEX believes that "the inevitable transformation to Web3.0 will need to consider the practical needs of Web2.0 users. Merging the most useful functions of centralized and decentralized exchanges may be the key to the large-scale adoption of digital asset trading based on Web3.0.

MEME DEX uses Web3.0 to its larger extent, and blockchain networks need to pay more attention to the user needs, to ensure that their personal data is more secure and private. Since there is no centralized server, the power of all data is in the hands of users, so they don't have to worry about their asset getting stolen or misused.”

As history often teaches us, it is better for one to adopt new technology rather than oppose it. In Web3.0, controlling your transactions and your assets is a key step in this digital evolution process. Therefore, it is our common mission to invest in these new technologies.

Today's Internet is a world dominated by WEB2.0, so how can we shift to the world of WEB3.0, a permissionless and trustless network?

In the WEB2.0 era, with the Internet giants as the core, multiple ecosystems were formed and the industry was characterized by a monopoly on data, value, and network functions by Internet companies. This monopoly has created strong barriers to entry and boundaries between different ecologies. The most important resource that the Internet world is competing for is the traffic flow (user attraction and capital stream). All this will undergo profound changes in the WEB3.0 era: the WEB3.0 world will be fully open, and users' behavior will not be limited by ecological isolation. The privacy of user data will be fully protected using encryption algorithms and distributed storage. In the WEB3 world, content and applications will be created and led by users, fully realizing the value of the platform through joint creation and governance.

MEME DEX - A World of Openness, Privacy and Co-Building

Blockchain and WEB 3.0 follow each other. Blockchain, as part of a new generation of information technology, is a new type of aggregate of distributed networks, cryptography, smart contracts, and other technologies. WEB 3.0 introduces the concept of a decentralized Internet that allows profit-seeking third parties to have less control over user interactions and money transfers. Essentially, WEB 3.0 provides the foundation for p2p communications, payments, services, and marketplaces, with artificial intelligence, distributed storage protocols, and more secure cryptosystems. And blockchain is playing an important role in the current development of WEB 3.0. 

MEME DEX is a full-featured WEB3.0 based decentralized cryptocurrency exchange. The main focus is on U-based contracts, supporting USDT charging and withdrawals for the ETH main network, USDC for TRON networks. After adding funds into the platform's contract address, the system's smart contract will issue the same amount of USD in the platform to start trading. Most importantly, users will keep control over their funds in their wallets, increasing the transparency and trust of transactions. In MEME DEX, after connecting to the platform using a wallet address on any of the supported public chains and depositing assets, the user is considered to be registered successfully and becomes a full user of MEME.

With the improvement of the performance of the underlying public chain and the breakthrough of smart contracts, side chain and cross-chain technologies, MEME DEX has been greatly improved in terms of asset security, transaction process design, order aggregation and on-chain transaction speed, gradually reaching an user experience comparable to centralized exchanges. It also has advantages that makes it ahead of other decentralized exchanges such as multi-chain asset support, open-source smart contracts to control the whole process of asset interaction, decentralized asset isolation and identity verification, and transfer of data ownership and value.

Multi-chain Asset Support

The development of cross-chain technology, interoperability between multiple chains and assets, and smart contract trading have are now a reality. MEME DEX has made it possible to support for multi-chain, multi-currency, and multi-asset trading to enable the transfer of assets. All that while increasing the range of options available to users, which will also enhance the liquidity available compared to that of decentralized exchange assets.

Open-source smart contracts control the whole process of asset transactions

MEME DEX does not store user funds and personal data on its servers, but simply serves as an infrastructure for matching buyers and sellers who wish to trade digital assets. Such transactions happen directly between participants (peer-to-peer) with the help of a matching engine. It enables users to buy or sell tokens on the chain without having to find a specific buyer or seller beforehand. Also, unlike centralized exchanges such as Coinbase or Binance, MEME DEX enables users to keep full custody of their assets.

Decentralized asset isolation and identity verification

The core of MEME DEX is "decentralized custody". In other words, during the transaction process, no centralized institution can access your assets: users always keep their assets in their own hands and only need to operate when they need to exchange coins to meet their needs. In this whole process, the digital assets are on the user's wallet address from the beginning to the end, without going through any third party.

Privacy: Transfer of data ownership and value 

Data privacy has become the focus of global regulators. Meme DEX's solution is to introduce privacy computing and ensure that data is invisible in plain text through homomorphic encryption, multi-party secure computing, trusted execution environment and other technologies. In the era of Web3.0 users are more conscious about protecting their privacy and their data. With the decentralization of applications and the availability of data on the chain, users’ behavior-generated data and application protocols need privacy protection. Meme DEX has many functionalities focused on privacy protection, including basic blockchain platform privacy protection, stored data privacy (distributed storage), user private key management, anonymous protocols and so on.

Meme DEX is designed to be a decentralized and transparent platform promoting encryption technology to solve DEX users’ everyday problems such as buy and sell new assets safely and fairly and enjoy a smooth operation experience.

WEB 3.0 is moving towards a mass-market economy.

Currently, even if Web3.0 still has many development problems, it is slowly becoming a reality. On the eve of this innovation, many industries are full of excitement. For example, the concept of metaverse, which has been widely talked about in the past few months, seems to be possible only with Web3.0 technology; Also, new Internet of things and virtual network ecology composed of mobile phones, VR, AR, wearable devices and other hardware.

MEME DEX believes that "the inevitable transformation to Web3.0 will need to consider the practical needs of Web2.0 users. Merging the most useful functions of centralized and decentralized exchanges may be the key to the large-scale adoption of digital asset trading based on Web3.0.”

MEME DEX uses Web3.0 to its larger extent, and blockchain networks need to pay more attention to the user needs, to ensure that their personal data is more secure and private. Since there is no centralized server, the power of all data is in the hands of users, so they don't have to worry about their asset getting stolen or misused.”

As history often teaches us, it is better for one to adopt new technology rather than oppose it. In Web3.0, controlling your transactions and your assets is a key step in this digital evolution process. Therefore, it is our common mission to invest in these new technologies.