Emotions are the market's weather vane. Robert Shiller wrote in "Narrative Economics": "Stories drive the economy."

During the carnival week of Token 2049, at the Marina Bay Sands in Singapore, you can hear the crowd discussing how to "hit the dog." In Bangkok's Chinatown, there are throngs of people outside the gold shop, where staff erase old prices and rewrite the soaring gold prices. Meanwhile, another feast is igniting in the Telegram group—a collective celebration of "Binance Life."

But every emotional climax is the prologue to a crisis. The "1011" black swan event and the USDe decoupling triggered a run on circulating loans, causing a massive collapse of altcoins. A series of financial chain reactions caused the market to oscillate violently between high temperatures and freezing points.

This is the true reflection of Web 3: an emotion-driven market, an eternal collision of order and entropy.

The Floodgate Behind the Meme Wave

The meme wave encapsulates absurd traffic culture memes into liquid assets, balanced through social games driven by collective emotions. It is a financial experiment about narrative, groups, and desires.

On the eve of F1, the streets of Singapore are bustling. Every year, at the end of Token 2049, my friends and I gather in front of a hawker stall. I ask Heisenberg from Cypher 9 Venture: What is the narrative logic behind meme coins?

Heisenberg states: Unlike altcoins that anchor utility, memes fundamentally anchor culture and belonging.

It is a form of "emotional finance," merging speculation, faith, and self-expression.

Not long after our conversation, Binance's meme began to spark a new myth of wealth creation.

I can't help but marvel at He Yi's marketing genius. "Binance thinking: buy BNB, drive a Binance car, live in a Binance community, enjoy a Binance life." This collision of a well-known phrase in the Chinese-speaking world and the meme as a wealth creation myth creates a perfect storm of speculation, rebellion, empathy, and collective illusion.

In just three days, the highest increase reached 7000 times, and the strongest meme symbol in the Chinese-speaking world finally emerged.

Watching the soaring coin prices, I recalled Heisenberg's words: People are already tired of being led by institutional market logic and no longer believe that narratives will materialize. When speculative narratives regain the upper hand, memes become an outlet for social anxiety and a resonance point for collective emotions.

He took a sip of beer and said, "I fear missing out more than making money."

It seems that FOMO is the true currency of this movement.

The explosion of Binance memes is a result of marketing and an inevitable outcome of the hot trading on the BSC chain. Fourmeme, as the largest meme launchpad on the BNB Chain, has daily revenues reaching $1.4 million, surpassing the leading Pump.fun in the Solana ecosystem. According to data from Bubblemaps, as of now, about 70% of traders on the Four.Meme platform are profitable, showing significant wealth effects.

Back in July, the Onchain Playground trading competition jointly launched by Fourmeme and TaskOn provided a completely different perspective: how to transform emotions and heat into actionable, traceable user behavior through trading competitions.

The trading competition took place on TaskOn's ChainEarn, where Fourmeme gathered five popular meme coins: $EGL 1, $Janitor, W, etc. TaskOn designed a sophisticated "three-dimensional" flywheel mechanism, elevating competition from mere internal strife to a strategic dimension.

The emotion-driven market represented by meme exchanges has strong trading sentiment. TaskOn provided the infrastructure for task publishing, leaderboards, reward distribution, and behavior verification. Ultimately, the trading volume reached $3.14 million, validating a growth model driven by trading competition behavior that is data-verifiable, achieving a closed-loop system from traffic to behavior to loyalty.

On the other end of the meme wave and emotional game, Hyperliquid, known as the on-chain Binance, represents a resurgence of rationality and efficiency.

Hyperliquid builds a truly high-performance, low-latency, permissionless DEX on-chain, combating the trust costs of centralized exchanges with the transparency of on-chain matching and on-chain settlement. This means that the "speed, depth, and stability" of CEX has been transferred to the on-chain world.

This is not just a technical issue but a reconstruction of the market trust mechanism. Memes release the tension of collective emotions, while Hyperliquid constrains the liquidity outlet of these emotions.

DOGE, PEPE, Binance Life—every bull market will give birth to its own emotional symbols, and new liquidity engine outlets like Uniswap, dYdX, Hyperliquid, and TaskOn will always emerge in response.

Emotions drive market heat, while infrastructure and growth management tools together form the double helix of the Web 3 world.

The Macroeconomic Value of Web 3: The Full Spectrum of Finance

In the Web 2 era, "value" was strictly defined—stocks, bonds, real estate, and currency. They have ledgers, valuations, and regulations. Web 3 breaks this singular form: it expands value expression from "assets" to a sum of information, attention, emotions, and trust. This is the core proposition of the "value internet": everything that can be perceived, disseminated, and traded can be financialized.

We can clearly see the evolutionary path of the Web 3 industry, which is to package all markable behaviors into liquid assets through the full spectrum of finance, allowing the complex world to be re-understood.

How to transform these appealing concepts of Web 3 into consensus, allowing speculative users to unconsciously contribute their strength? Achieving bilateral markets and network effects?

The Transformation of Marketing: From Growth to Dream-Making

The essence of marketing is attention capture, especially in Web 3, where marketing is the core algorithm.

Unlike the AARRR funnel model, where users are "converted" objects, Web 3 needs "co-creating partners."

Web 2 marketing relies on traffic, while Web 3 marketing relies on consensus; Web 2 pursues conversion rates, while Web 3 pursues participation.

Web 3 marketing ultimately measures value through incentives, participation, co-construction, and autonomy, with user behavior and on-chain data as results.

Airdrops, leaderboards, task systems, AMAs, rankings, early participation rewards—these mechanisms form a Web 3 "emotional system." Projects rely on emotions to maintain liquidity, while users rely on incentives to maintain attention.

In the past, the value of KOLs was to break information asymmetry for fans and reshape public attention. However, with the underlying paradigm shift of the attention economy, InfoFi emerged, reshaping information distribution and asset forms, attempting to redistribute power by realizing "who owns attention, who dominates information," almost consuming all attention resources in Web 3 in a short time.

Kaito packages public opinion, emotions, and research reports from the X platform into an "attention market," using AI to slice information flows into tradable intelligence units, and then drives users to continuously produce content through a points and reputation system.

In this mechanism, project parties attract users to read, share, and analyze information flows through points, reputation, and prediction incentives. Every post, like, and share is no longer an unpaid action.

In just a few months, Kaito turned the entire crypto Twitter into a "reputation mine."

However, Kaito also fell into a comical paradox: breaking out through the attention economy but getting caught in the whirlpool of attention. The noisy voices completely drowned out real analysis and cries, and the X square quickly became a garbage dump.

I previously mentioned in another article analyzing Quest that Quest is more efficient because it has a complete closed-loop system: from traffic introduction, demand capture, to gamified incentives, user retention, and sense of belonging; it is not only a customer acquisition tool but also the foundational infrastructure for educating users, screening high-value contributors, and laying the groundwork for loyalty programs.

Recently, while reviewing DeFi data, I noticed an interesting fact: the data platform DaapDatar is also doing Quest. Through Quest, it transforms into a behavior-driven ecological entry point.

When users check data, it is a stay behavior, but through Quest, it is transformed into an interactive behavior—completing transactions, participating in governance, trying new DApps, allowing traffic to settle, enhancing user participation and educational value, and enabling the platform to obtain more precise activity and ecological heat data, achieving a closed loop from "information display" to "behavior-driven growth."

The introduction of Quest makes DappRadar not only a tool for observing the market but also helps enhance community activity and marketing effectiveness.

However, all task incentives cannot avoid a difficult problem: the one-time nature of incentivized behavior makes it hard to form effective retention.

Bitcoin.com faced fierce competition in transactions and low user retention during its early promotion, with many users leaving after claiming one-time airdrops and other incentives.

Through the on-chain verified Quest system, points levels, milestone rewards, and community task tools provided by the Web 3 user lifecycle management platform TaskOn, Bitcoin.com linked rewards to product usage and launched a series of Quests. Users transitioned from "passively receiving rewards" to "actively contributing value" through continuous participation and leaderboard incentives.

With the ongoing infusion of points, level systems, advanced tasks, and community interaction tools, TaskOn's automatic verification and reward distribution mechanisms achieved continuity in user behavior. The data dashboard provided real-time feedback on retention rates and participation, significantly increasing community activity, and core users began to take on content contribution and governance roles, achieving long-term value retention.

TaskOn helped Bitcoin.com build a closed-loop system from short-term incentives to long-term growth, proving that Web 3 user growth is not just about creating heat but also about structured, verifiable, and sustainable community building. This model reflects TaskOn's ability to implement the "behavioral economy" concept in practical projects.

In the cycle of emotions and order, Web 3 has never truly cooled down. It is merely continuously reconstructing new trust, narratives, and growth methods. The real winners are not those chasing heat but those who understand the mechanisms of heat.

免责声明：本文章仅代表作者个人观点，不代表本平台的立场和观点。本文章仅供信息分享，不构成对任何人的任何投资建议。用户与作者之间的任何争议，与本平台无关。如网页中刊载的文章或图片涉及侵权，请提供相关的权利证明和身份证明发送邮件到support@aicoin.com，本平台相关工作人员将会进行核查。