Dialogue with Yuyue, starting from Alpha Hunter: Exploring the meme ecosystem, how does Generation Z lead the market nar

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Think about what is scarcity and what is your own moat. Making money is not rare, because there are too many people making money. What is rare is to constantly review why you make money, to systematically review it with logic and methodology, and to continue to replicate it.

@yuyue_chris is a post-00s investor and trader active in the Web3 field. From entering the market with a capital of 3,000 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 a continuous learning attitude. Currently, she is an important member of several top Chinese communities and is also running her own community.

OKX specially invited him as a guest speaker in the Friends of OKX series of special topics, where he shared his trading experience and in-depth thoughts on the Meme track. We hope that this content will inspire everyone.

The Friends of OKX series is a special column specially planned by OKX, hosted by Mercy (@Mercy_okx), the official community ambassador of OKX. It aims to explore the career stories, industry insights and lessons learned of KOLs from different backgrounds for novice users to learn and refer to.

1. The road to Crypto from scratch

Mercy (@Mercy_okx): Can you share with us how you got into the cryptocurrency space?

Yuyue (@yuyue_chris): I entered the circle in March 2022, which was the period of transition from bear to bull. As a business student, I initially wanted to find an internship and started writing some Web3 investment research. I really entered the circle when I saw a contract order of an exchange in my circle of friends, so I asked the other party What APP is this?, and then I received a rebate link. At that time, I only had 3,000 or 5,000 yuan in principal, but it was quickly cleared by the 20x leverage contract, leaving only a little ETH on the chain. I didnt dare to tell my parents that I had lost all my living expenses, so I had to find another way out.

Mercy: What keeps you going? Which communities have had the biggest impact on you?

Yuyue: The turning point came with the Natio n3 airdrop. At that time, I saw many big Vs on Twitter forwarding and asking everyone to leave their ENS addresses. I followed and left a few, and unexpectedly I actually received the airdrop. This made me realize that I must get positive feedback. Without positive feedback, it is difficult to persist in the face of continuous losses. Since then, I have begun to continuously iterate my information sources, join more communities to meet more people, and actively review every opportunity.

Regarding communities, one is Robot DAO of scriptdotmoney, which is the Whampoa Military Academy of top Chinese communities. Many current top community leaders have come out of it, such as Laser Cat. The second is 321 DAO of Zishi, which is also the Whampoa Military Academy of Chinese KOLs. I learned a lot here. Finally, 33 DAO of Teacher Feng Mi has developed from an airdrop organization to an elite organization integrating investment research, execution, and investment. Teacher Feng Mi has a saying that inspired me a lot: The most important thing for an organization is to have cohesion internally and influence externally.

Mercy: How did the transition from being an Alpha Hunter to becoming an investor and professional trader happen?

Yuyue: In the early days, as an Alpha Hunter, I mainly shared various arbitrage and airdrop opportunities. It is very important to study the rules, just like studying law. Only by understanding all the terms can you find loopholes. And loopholes often contain the best profit opportunities. For example, the Penguin airdrop two days ago. Half a year ago, I was one of the few bloggers in the Chinese-speaking area who publicly recommended doing the Penguin Layer Zero cross-chain task. During the airdrop, the single number could reap nearly 10,000 dollars in revenue, and the capital wear and tear was also very small. At that time, I was observing new projects every day, so that many peoples impression of me was I have already paid attention to this project when there were so few fans.

But as the amount of funds grows, trading strategies are also evolving. Now, when I use offensive strategies, I mainly use large positions to configure BTC and ETH as the base position, use them as margin for contracts, but control the leverage below 3 times. I invest because I worked at IDG before and am familiar with the primary market, so I will also invest in primary market projects.

2. In-depth insights into the Meme track

Mercy: What do you think about Memecoin鈥檚 explosion in this bull market?

Yuyue: This depends on the change in the overall narrative of the cryptocurrency circle. I think there are two main logic lines now: the asset line and the speculation line. The asset line revolves around assets with real and stable value such as BTC and stablecoins; the speculation line is mainly based on Meme, representing a kind of nationwide speculation carnival. When BTC hit a new high, these two lines intertwined to form the current prosperity.

From the earliest public chains to DeFi, GameFi, and NFT, now is the era of pump.fun. The popularization of cryptocurrency does not require complex DeFi formulas, but requires a more down-to-earth approach. Meme just meets this requirement. On the asset side, BTC itself, as an interest-free strong consensus asset, can 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 or even appreciation in the process of resisting real inflation.

Mercy: Why do memes fit so deeply into Generation Z culture?

Yuyue: This is related to the cognitive characteristics of the human brain. People are born to pursue novelty, and their threshold for the same type of stimulation will continue to increase. Meme provides simple, fast, and rich stimulation, while eliminating the seriousness of finance and making people feel like playing. This is an entertaining form of finance and financialized game. For example, a 10,000-word long article on project investment and research and a short and interesting slogan, which one has a larger audience and is more likely to become addictive? Obviously, the latter has been verified by hundreds of millions of users in the era of short videos.

Mercy: The birth of this round of Pump.fun seems to have become the infrastructure of the Meme supercycle. Now, in addition to Solana, other major ecosystems have also launched their own versions of pump.fun. What kind of changes do you think this short-term, frequent, and fast model will bring?

Yuyue: I think the focus is not on the infrastructure of pump.fun, but on the more macro changes. With the relaxation of regulations, we have seen the separation of centralized exchanges, ETFs, US stocks and on-chain structures. In the future, more and more people may buy mainstream coins through ETFs, while on-chain will mainly be speculative transactions based on Meme.

In addition, I think the current regulatory environment is more favorable to Meme. You can see that major exchanges have recently frequently listed Meme coins, which means that the compliance risk of Meme itself is relatively small. But it is worth noting that peoples novelty about a thing will always fade, so the sector rotation will be very fast, whether it is the rotation between DeFi and Meme, or the rotation between value coins and Meme coins, or even the rotation within the Meme sector.

Mercy (@Mercy_okx): Compared with traditional VC projects, what unique advantages do you think the Meme project has?

Yuyue (@yuyue_chris): This is a very interesting question. In fact, even for new VC projects, even 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, from the perspective of buying from outside the circle, any altcoin in the circle except the Trump concept will find it difficult to compete with BTC ETF, ETH ETF and mainstream currencies in the long term. From the perspective of buying from the circle, if Meme cannot be used skillfully, it will be difficult to compete with Meme.

I can give you a few good examples:

• $AVA uses the cute white-haired Lolita image to build an organic community of AI Agents and promote the product @HoloworldAI

• $MOVE uses various memes to promote @movementlabsxyz. The founder himself is a topical and legendary figure among the Z generation.

• $BERAs unremarkable meme temperament, every event is very extravagant, fakechain culture, etc.

Mercy: What dimensions do you consider when screening Meme projects?

Yuyue: I mainly consider it from three aspects:

The first is the narrative level, which is divided into grand narratives (politics, economy, AI), small and beautiful cults (specific images or niche culture), and short-term hot spots.

The second is the chip structure. Large-cap projects need to pay attention to the chip dispersion, which determines the strength of consensus; but early-stage projects should not be overly dispersed, which is prone to continuous selling pressure.

The third is community building. We need high-quality community leaders, preferably diamond hands who have built for a long time and can continuously recharge the faith of the community. If the early community is full of flippers, it is difficult to establish long-term value.

3. Advice for beginners

Mercy: What advice do you have for newbies who are just entering the scene?

Yuyue: First, you need to establish your own information channels, but be wary of information cocoons. I suggest you diligently swipe and study the early layouters behind each hot spot. Secondly, dont rely too much on copy trading tools, because you cant completely copy other peoples positions and timing.

The key to continuous learning and growth is to get positive feedback, even if it is small. From my experience, few people can get a particularly large return on a single project. It is more of a linear growth process. There is a lot of survivor bias in the critical wealth growth, and linear growth is the prelude to exponential growth. Traders need to realize that this market is always changing. The only constant is to maintain a learning mentality and find your own rhythm and circle. It is difficult to fight alone. Real growth requires mutual learning and common progress in a high-quality community.

4. Impressions and suggestions on OKX

Mercy (@Mercy_okx): Please share your impressions of OKX, including product experience and team interaction.

Yuyue (@yuyue_chris): The most important impression that OKX gives me is the fast product iteration speed. Specifically, it is reflected in several aspects: first, the functions of the CEX system, such as the UI revision of the financial section. Although I was not used to it at first, the product logic is clearer after the revision. Secondly, the Web3 wallet section has very fast iteration and more and more 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 leaves a good impression on me.

Mercy: What suggestions do you have 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 function that the exchange module can consider.

I think one thing OKX did well is to clearly distinguish between the functions on the chain and in the exchange. The Web3 wallet section is independent of the exchange system and is very well done, with functions that are very close to actual needs. As a professional meme user, I hope there will be a faster mechanism for adding new functions. Although it has been done very well now, it would be better if some projects with strong immediacy could be supported more quickly.

I would like to especially commend OKX for its leading performance in multi-chain products. Many public chains do not have particularly good native wallets, but the OKX wallet web version has a very good experience on these chains, such as Aptos. It is recommended that this advantage can be further strengthened to 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 to trade CEX tokens. What do you think of this direction?

Yuyue: This idea sounds very innovative. It will not only give centralized exchange users more choices, but also provide more liquidity for DEX, making the on-chain trading experience smoother. I look forward to seeing the specific implementation of this function.

This article is for reference only. This article only represents the authors views and does not represent the position of OKX. This article is not intended to provide (i) investment advice or investment recommendations; (ii) an offer or solicitation to buy, sell or hold digital assets; (iii) financial, accounting, legal or tax advice. We do not guarantee the accuracy, completeness or usefulness of such information. Holding digital assets (including stablecoins and NFTs) involves high risks and may fluctuate significantly. You should carefully consider whether trading or holding digital assets is suitable for you based on your financial situation. Please consult your legal/tax/investment professionals for your specific situation. Please be responsible for understanding and complying with local applicable laws and regulations.

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