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Animal Coin Ferocity: Who's Lighting the Fire? Who is benefiting? What will be left



May 10 will be an unforgettable day for Chinese industry professionals.

First up is Doge. In the early morning of the 10th, Beijing time, GEC announced that it would name its mission to the moon DOGE-1 and ride on Musk’s SpaceX Falcon 9 rocket. The mission will be fully paid for by Dogecoin. SpaceX said: "This mission will prove the application of cryptocurrencies beyond Earth's orbit and lay the foundation for interplanetary trade." Musk also tweeted his congratulations: the first cryptocurrency in the universe, the first MEME in the universe.

Binance then announced the listing of SHIB (Shiba Inu Coin, which is called Shit Coin in Chinese). Due to the large amount of traffic, Binance suddenly announced a ban on withdrawals across the entire network in the evening, causing panic in the industry. Fortunately, Binance announced the restart of withdrawals 30 minutes later. On May 8, OKEx and Huobi announced the listing of SHIB at the same time, which aroused the enthusiasm of the entire Chinese community. At present, Doge has fallen by 17%, and its market value has fallen to the fifth place; SHIB has risen by 142%, a 21-fold increase in 7 days, and its market value has grown to 16th.

The Australian Zoo launched the "Wildlife Warriors" commemorative NFT on the Algorand blockchain: Jinse Finance reported that the Australian Zoo will launch the "Wildlife Warriors" commemorative NFT on the Algorand blockchain. Founded in 2002 by Steve Irwin and his wife Terri Irwin, the organization marks its 20th anniversary this year by "protecting injured, threatened or endangered wildlife". The "Wildlife Warriors" NFT release time and related information will be announced in the next few weeks. It is reported that users can purchase through MoonPay. (Yahoo Finance)[2022/5/4 2:49:22]

Even more magical things are still happening. On the afternoon of the 10th, Gate, a leading second-tier exchange, announced the launch of lowb (losercoin) in China. In this self-introduction, it is stated that "return to zero at any time" project, and the community has more than tens of thousands of active-zce users. It only took Losercoin more than ten days to become a project with a market value of over 100 million RMB. Tiger Talisman will also be launched on the 11th.

Vechain provides blockchain technology support for members of the China Animal Health and Food Safety Alliance: According to Vechain Twitter, the company has joined the China Animal Health and Food Safety Alliance (CAFA) as a blockchain technology provider. CAFA is a government-supported organization directly under the China National Agricultural Science and Technology Innovation Alliance initiated by the Ministry of Agriculture of China. [2020/9/18]

On the 10th, Matcha, where small coins gather, experienced a long downtime, which was also related to the animal PIG. Both PIG and SAFEMARS are imitations of SAFEMOON, ranking first and second in matcha popularity. All kinds of animals emerged one after another. These projects were basically built on the Binance Smart Chain, which caused serious congestion in BSC, and a large number of transactions could not be executed.

The National Animal Health and Food Safety Innovation Alliance will launch a blockchain-based food traceability platform: The National Animal Health and Food Safety Innovation Alliance (hereinafter referred to as the "Alliance") food trust traceability platform was officially launched in April this year. Dr. Sun Zhongchao, executive deputy secretary-general of the alliance, said that the traceability platform integrates the government, third-party testing, certification agencies, enterprises and consumers into the traceability system, and can realize blockchain tamper-proof, two-way traceability, quality certification, monitoring and early warning, Functions such as precise recall and supply chain management. (China Economic Net) [2020/4/20]

Wu said that in the May 10 survey of Blockchain Weibo, 1,690 voting users said that they felt similar to the scene in 2017, accounting for 64% of the total voting users. However, some old players said that the difference from 2017 is that most of them were released by centralized teams at that time, but now it is a combination of anonymous teams, DEX and the community. The atmosphere of retail investors and the community is stronger, but the release of projects has become easier.

Gusu Procuratorate Uses Blockchain Technology to Help Wildlife Protection: It is learned from Suzhou Gusu District Procuratorate that since the WeChat platform of "Knowing Animals with Legal Eyes" using blockchain technology has been put into use, it has the characteristics of "decentralization, fairness and openness, and storage on the chain". "Certificate" and other features to help wildlife protection.

The platform was initiated by the Gusu District Procuratorate of Suzhou City. It integrates multiple forces such as the Market Supervision Administration, the Judiciary Bureau, and the Catering Association to share clues. When people discover illegal activities such as buying, selling, and eating wild animals, they can take photos and upload evidence, and submit a report with one click. clues, avoiding the loss of clues caused by ignorance and fear of trouble. (Xinhua Net Jiangsu) [2020/3/3]

There is a similar logic that can be followed in the current animal frenzy:

1. Do not make any innovations in technology, and copy the open source code of existing mature projects;

2. The community is the core, and all kinds of communities are spreading wildly. Except for a few such as lowb with community culture, others rely on the effect of making money;

3. Waiting for the exchange to go online, the project will be "positive", and the price will explode. In other words, the exchange is the last and most important link, and it is not even ruled out that there is an exchange colluding with the project party.

In fact, it is still Ponzi logic (passing on the drum): the reason for the fanaticism of retail investors is because the price rises, the price rises because newcomers take over, and the newcomers take over because they believe that the price will rise. Fortunately, the leaders Dogecoin and SHIB have achieved complete decentralization, and there will be no moral pressure. The moral pressure of the project party to "smash the market" will cause panic when the currency price falls, resulting in a spiral decline.

Animal mania is naturally irrational, and it can be thought of as a big casino. However, because a large number of retail investors have a low level of awareness, investors with higher awareness and intuition can judge which projects are relatively high-quality, and then be recognized by centralized exchanges. The standard for judging the quality of animal projects depends on "exchange thinking", that is, from the perspective of the exchange to see who can be on the exchange, or rely on the inside information of the exchange. But this kind of income is sometimes obtained because the big investors have too much money and can invest it without fear of losses.

Finally, animal fanaticism also gives us some thoughts:

First: Just like the ridicule of Weibo starlings: "If a value coin does not even have basic traffic, it is worth nothing." Those projects that are full of advanced technology and complex financial models, but the activity of the community is so low that it is touching. Are they too divorced from the community? Is it possible to combine technology, value and popular culture? Can traditional programs learn from animal mania?

But looking at it from another angle, is there a difference between the traffic of animal fanaticism and the surge in traffic caused by other currencies? Is it all the community traffic brought by the money-making effect, and the traffic will subside when you don’t make money? This also ushered in the second question.

Second: In the community currency/MEME currency/animal currency, besides making money, are there other reasons that allow us to recognize a project? We have seen many Chinese developers imitate SHIB, and the project party will leave immediately after posting, "just for fun". This is not a bad thing, at least the project party does not want to make money. The self-deprecating culture of Lowb is also something we have never seen before. The founder has a strong sense of judgment and hopes to clear the holdings of the project party as soon as possible to achieve true decentralization and become a benchmark for the Chinese community.


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