On April 6, GMGN co-founder Haze delivered a speech titled GMGN is born for speed at the 2025 Hong Kong Web3 Carnival. Haze said that GMGN has grasped a principle in solving pain points: for Memecoin transactions, the difference of seconds determines success or failure.
The following is the full text of the speech:
Hello everyone, I am Haze, from GMGN trading products. I believe many people know this cycle or have used it. The topic of my speech today is about why GMGN has such a product and what our product mainly does.
GMGN is actually to solve a pain point, for the sake of fast, why such a pain point arises, I will explain to you next. If Memecoin transactions are slow on the chain, there will be problems. For young people, they like to trade Memecoin, so they need a fast product to solve their pain points.
First, let’s look at Memecoin. Many people ask what value Memecoin has. I will talk about it in three sections:
First, the value of information and asset distribution is faster than traditional news because it is related to money. Why is it related to money? If you trade Memecoin yourself, you will find that many hot events are actually issued through Memecoin. For example, when Trump was shot, he said Fight, and Memecoin immediately issued Fight tokens. This is faster than traditional news because everyone needs to trade it quickly. Many people think that Memecoin will have emoticons or communities like Dogecion and Shibacoin before. In fact, the current Memecoin is more like a way of distributing information. Many hot events around the world will be issued through Memecoin, which is a way of distributing information and assets.
Second, cultural consensus. For example, Wave Dodge, which we are very familiar with, has cultural attributes and there is a strong consensus in the entire community.
Third, monetization of attention. When trading Memecoin, you should know that when you buy hot event tokens early, when the community spreads it and more people begin to know it and buy it, you may make money on Memecoin if you intervene early.
The Memecoin market exploded after PumpFun came out, because PumpFun solved the unified issuance standard of assets. Why is it important to unify the issuance standard? Because only when the standard is unified can a more efficient asset distribution method emerge, just like Qin Shihuang unified the weights and measures. Unifying the flow of assets and funds will make circulation very efficient.
Since its launch in January 2024, PumpFun has issued 8.9 million tokens. Before Memecoin, blockchain had never issued so many assets in a year.
GMGN, as the largest Memecoin trading platform, was established in May 2023. In November 2024, the data experienced a significant outbreak. The curve chart is very obvious. The website traffic and monthly traffic are 14 million, and the number of transactions per day is 600,000.
Who trades Memecoin? Who uses GMGN? In fact, many people who use GMGN are no longer slightly older people, but more young people. When we communicate with many users, most of them are born in the 2000s, in their early 20s, very energetic and vibrant. These people are new cryptocurrency traders. Many people ask whether there is new traffic in cryptocurrency? Can it break the circle? If you know more about Memecoin, you will find that fresh blood and young people are playing Memecoin instead of playing DeFi, Etherscan and other things.
According to our understanding, most of them are under 30 years old, in their 20s. In addition, many people have never bought stocks before, and they buy Memecoin directly. They have no experience in traditional stock buying. No experience in buying stocks means that they have not been educated by Buffett on long-term value, financial reports and other things. Most of them like to trade in the form of small risks and big gains.
The change in concepts is very obvious. They only have one thing to say: Bitcoin and Ethereum are too expensive and the increase is not enough. I am young and I can take the risk, so I want to play Memecoin. This is a change in the value proposition and investment concept of young people of Generation Z.
(As shown in the figure) The contrast between the left and right sides of my chart is very obvious. Traditional investors born in the 1980s are more likely to study white papers, long-term investment, valueism, and technological innovation. This was the case when I first entered the circle. I would go to every Telegram and talk to many founders about how your technology is implemented and whether you can tell me about it. But now many people who do value investing and projects may encounter a worry, why no one discusses my white paper with me, and many people discuss my economic model and currency price with me, because the new investment group has changed, he does not discuss these with you, he discusses other things with you, your social signals, trend cycles, community culture, and cultural resonance.
On this basis, many pain points have changed. Traditional on-chain transactions no longer satisfy them because they think the transactions are too slow. I am not here to take over. I want to grab the chips. I want to get the early chips more fairly. I don’t want to get them from VCs and investment institutions. I want to fight on the chain myself. So under such pain point changes, the importance of speed in obtaining tokens has become very critical. Everyone thinks Memecoin is relatively fair because the chips on the chain are very public. Young investors cannot stand the slowness of traditional chains. Many young people in WeChat groups say it is too slow and blame me. This thing is too slow. When I saw this situation, I felt that GMGN was a product that came into being to solve their pain points.
GMGN adheres to one principle when solving pain points: for Memecoin transactions, a difference of seconds determines success or failure.
There is a rather vulgar saying, but the consensus in the community is that the quicker the person, the meat; the slower the person, the shit. This is similar to the essence of users pursuit of on-chain transactions.
The “Four Fasts” that GMGN solves:
(1) Quick discovery: how to quickly discover good assets.
(2) Make quick decisions. How to make quick decisions to buy.
(3) Operate quickly, faster than others.
(4) Quick execution: how to be faster than others. “Buy” means to buy, which is the term used in our community.
The first thing to do is to use the chain scanning three columns, which is a proprietary name defined by the community in Memecoin product design. Before Memecoin chain transactions, there was no product called chain scanning three columns. Chain scanning three columns are mainly used to monitor new assets issued on the chain. As long as new assets are issued on the chain, they will be pushed to you immediately, just like watching short videos on Douyin. As long as the creator posts a video, it can be pushed to you immediately, and it can be pushed directly from the chain to you in one second. That’s why it is called chain scanning three columns, which can achieve real-time discovery and push in seconds.
Play an animation, which allows everyone to more intuitively feel what second-level push means. This is the three columns of the chain scan, which will scroll continuously, and each scrolling asset takes 1 second.
After asset discovery, we need to solve another problem for users, which is the problem of transaction decision. Many people on the chain know that the chips and data are open and transparent, but how do you turn these things into something that users can understand? It is actually very important to discover the value of users. So we have been working on on-chain data before this company. We have been doing it for four years and have pulled down the data of the entire network. Four years ago, we did something to connect the address on the chain with Twitter. When I was doing DeFi, I found that many people like to monitor an address, but who is behind the address? I don’t know what kind of person this address is. The address is a string of numbers, which is a relatively abstract thing. Even if I look at the address, I don’t know who this person is. For me, there is no specific perception and no decision-making perception. So the first thing we did was to connect the address with Twitter. What is the address behind the Twitter name, whether he makes money or not, and what he is playing. We solved this problem. Now if you play Meme coins, you will find out who is a big V, who is the head of the car, and I know what his address is. GMGN has done this four years ago.
In 2024, the rat trading function was first created. In CEX transactions, people often say that someone is a rat trader, but in fact, I dont even know that I am a rat trader in CEX. What makes you say that I am a rat trader? Why is there such an objection? It is because the data of CEX is not transparent, while the data on the chain is transparent. Lets mark it out and see if it is a rat trader.
In 2024, we developed a feature for insider trading. When this feature was launched, it was very popular with the community. Everyone said, I finally know whose address is insider trading. After discovering it, they directly posted it on Twitter to scold him. This feature is the best manifestation of data transparency, making transactions fairer and making decisions more rational. After that, we continue to enrich the dimensions of data, such as diamond hands and paper hands. For example, if you take one or two years, this person has diamond hands. Usually, many people say that I have a lot of bitcoins and I have diamond hands, but now I mark you on the chain, and everyone knows that you have diamond hands. But some people say that I have never sold currency, but you have been selling coins at the address on the chain, so I will mark you as a paper hand, so at this time, even if you say that you are not a paper hand, your address is clear and everyone knows it.
There are also profit and loss analysis and token sources. For example, which exchange did you transfer the token from? If you secretly send a token to make money, I can catch you and say that you transferred the token from CEX, you are sending a bid, and you are making money. It took us four years to build this kind of data, so that more users can clearly know where they are when they trade on the chain. For community users who play well, each plate is relatively transparent in their eyes. Studying data addresses and on-chain data is equivalent to speculating in stocks, studying financial reports and other fundamentals.
(As shown in the picture) This is the data page. You can see that there are a lot of data addresses. What is the name? What is the address? The one with a diamond label on the back is a diamond hand. The one with a small fishing rod label represents that this address is a distribution address. This chip is bought by an address in large quantities and distributed to many small accounts. This is called a bundle address (sound). There is an English name in the middle called Dnf. Because he is connected to Twitter, I know he is a big V. What is his name? I can also give him a note. There are many banners on it, KOL, VC, smart money, new wallet, developer, rat warehouse, fishing wallet, all marked for you, so when you trade on the chain, as long as you use GMGN, all data is transparent, giving you a relatively fair environment.
We also did one thing, which is to pursue how users can operate and trade quickly. This may be more experienced from product development. How to enable users to trade faster, we spent a lot of numbers to experience, such as 500 seed users, who constantly gave us feedback and suggestions. So far, we have received feedback from 4,000 users. In addition, there is a loss of 350,000 US dollars, which I lost when I used the product myself. I lost it purely by playing Memecoin on the chain, so I said that I spent money to buy cognition. In addition, a three-point one-line operation interface has been formed, with address monitoring on the left, K-line in the middle, and buying and selling on the right. As long as you are familiar with clicking from the left, looking in the middle, and buying on the right, a muscle memory of three points and one line is formed, so that everyone can buy faster and more conveniently, and you can buy with your eyes closed after you are familiar with it.
Another thing we do is called fast execution, 0.58 seconds, this is the transaction speed on Solana. Solanas speed is 0.4 seconds, and we only take 0.58 seconds.
I made a video comparison, the left side is the mobile terminal, and the right side is the traditional wallet. You can see what the difference is between the transaction speed pursued by Memecoin traders and the transaction speed of traditional wallets? (Play video) We have completed the purchase in 0.58 seconds, while the traditional wallet is still on the chain and still transferring, and it takes 2.3 seconds to buy. If you trade with GMGN users at the same time, GMGN users have already bought in two seconds, and you have just bought. Speed determines your chip advantage and price advantage.
We not only have speed, we also have a community of young people. As I just said, young people of Generation Z are beginning to realize the economy through attention, trading Meme coins and trading hot spots. At the same time, there is also a very unique community language and culture, which is the language and culture of young people. I don’t know if anyone here knows it. For example, do you know what pouring, blocking and fixing mean? If you don’t know, you may be a little behind the times in this cycle. Pouring means that after I buy, you buy, and I sell the chips to you. Blocking means that after I buy, the price of the currency keeps falling, just like playing basketball and blocking the basketball; fixing means finding a token address, but not knowing who it belongs to. Trump suddenly said that this is mine, so I fixed his token address. This is the community culture of young people in the MemecoinZ generation.
Social behaviors have actually begun to change. For example, discovering CA, copying CA, and forwarding CA have replaced liking, commenting, and forwarding. They are more likely to find tokens, forward tokens, and spread tokens in the blockchain world to replace their behaviors when watching short videos. Of course, why do they do this? Because they have economic benefits.
Everyone calls our community P Junior.
I just said so much. You pursue speed, you are a P-level player, you are cultural, and you have said so much. Do these people make money? How much money do they make? Is anyone making money on Memecoin? I know many people will have such questions, otherwise I would say so much nonsense on the stage.
We have a tutorial called How to make money from 0 to 10 million? If you check Twitter, you should have seen it. It was written by GMGN. There are many examples in it (as shown in the picture). This picture is different from CEX. CEX can be P or fake, but the chain cannot be tampered with. Everyone can see how much money has been made. In the Trump wave, there are many P juniors. Now according to the culture of our community, these people are called P Marshals because they have advanced. They can make 17 Million in two days on Trump. They use speed, attention, their own energy, and the power of trends to make them make more money.
If you want to know how they make money specifically, you are welcome to go to the GMGN booth outside. We have prepared relevant tutorials and you can check out their on-chain addresses to see how they make money.
To sum up, GMGN actually uses speed to capture hot spots for users, distribute assets to users, and realize value for users.
What else does the GMGN trading platform do? We are also the builders of the public chain and bring a lot of value to the public chain:
First, there is the most active on-chain transaction Degen, like P Junior, which has hundreds of transactions per day on the chain. There are no users who can trade so quickly on many chains.
Second, there is a good product experience.
Third, there is Meme trading liquidity and community culture.
Fourth, self-built transaction nodes can improve the transaction speed of the public chain.
Fifth, token staking maintains the security of the public chain network.
Sixth, help the public chain with data analysis. There are a lot of transaction data that can be analyzed based on the public chain data to provide value for the public chain.
We are the builders of the public chain and have made 60 million US dollars on Solana, but we sold it all and pledged it. We are not a company that buys and sells. We value long-term value and are really building a public chain. If you are interested, I can send you the pledge address. It is really 60 million US dollars in Solana. Of course, Solana has fallen a little now, and there may be some changes, but it is indeed that much money and we have never sold it.
Many people have seen that the price of Meme coins has been falling, but I think as long as the hot spot does not die, there will be hot assets released. Although you cannot see Meme coins with large market capitalization, small Meme coins will still emerge in an endless stream.
As long as the hot spots are not dead, the Meme coins will not be destroyed. Thank you!
