Background

Frequent fraud

According to a chain analysis report, the amount involved in cryptocurrency crimes will reach US$14 billion in 2021, and the losses caused by fraud cases will reach US$7.8 billion, an 82% increase from the same period last year. The most important reason for the increase in fraud losses is the emergence of rug pulls (which refers to cryptocurrency developers, DEX liquidity pools withdrawing support or suddenly abandoning a project, taking away investors' funds without warning). More than $2.8 billion in losses were attributable to Rug Pull fraud, accounting for 36%, compared with just 1% in 2020.

MEME rise

The rise of MEME tokens is not only because its narrative logic and community-driven model are more resonant, but also a challenge to the traditional financial system. Many investors are tired of the manipulation and unfair competition in traditional financial markets. Finding new investment opportunities and forms of expression fully reflects the value of decentralization. The future cryptocurrency market. The concepts of community and fair distribution will dominate.