Behind Binance Life, who is controlling the emotional engine of Web3?

Emotions are the wind vane of the market. Robert Shiller wrote in "Narrative Economics": "Stories drive the economy."

During the carnival week of Token2049, beneath the Marina Bay Sands in Singapore, you can hear the crowd discussing how to "beat the dog." In Bangkok's Chinatown, the gold shop is packed with people, as staff erase old prices and rewrite the soaring gold prices. Meanwhile, a different feast is igniting in the Telegram group— a collective celebration of "Binance Life."

However, every emotional peak is a prelude to crisis. The "1011" black swan event and the USDe de-pegging 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 Web3: an emotion-driven market, an eternal collision of order and entropy.

The Spillway 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 Token2049, my friends and I gather in front of a hawker stall. I ask Heisenberg from Cypher9 Venture: What is the narrative logic behind meme coins?

Heisenberg replies: Unlike altcoins anchored in utility, memes fundamentally anchor culture and belonging. It is a form of "emotional finance," merging speculation, belief, 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 "Apple" meme in the Chinese-speaking world collides with the money-printing machine of meme wealth creation, intertwining elements of speculation, rebellion, empathy, and collective illusion into a perfect storm.

In just three days, the strongest meme symbol in the Chinese-speaking world finally emerged, with a peak increase of 7000 times.

Watching the soaring coin prices, I recall Heisenberg's words: People are already tired of being led by institutional market logic and no longer believe that narratives will deliver. 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 I fear losing 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, achieves daily revenues of $1.4 million, surpassing the leading Pump.fun in the Solana ecosystem. According to Bubblemaps data, 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 launched by Fourmeme in collaboration with 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: $EGL1, $Janitor, W, etc. TaskOn designed a sophisticated "three-dimensional" flywheel mechanism, elevating competition from mere internal rivalry to a strategic dimension.

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

On the other end of the meme frenzy and emotional games, 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 clearing. This means that the "speed, depth, and stability" of CEX have been transferred to the on-chain world.

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

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

Emotions drive market heat, while infrastructure and growth management tools together form the double helix of the Web3 world.

The Macroeconomic Value of Web3: The Full Spectrum of Finance

In the Web2 era, "value" was strictly defined—stocks, bonds, real estate, and currency. They have ledgers, valuations, and regulations. Web3 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 Web3 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 Web3 concepts into consensus, enabling speculative users to unconsciously contribute their power? Achieving bilateral markets and network effects?

The Transformation of Marketing: From Growth to Dream-Making

Marketing is essentially attention capture, especially in Web3, where marketing is the core algorithm.

Unlike the AARRR funnel model that views users as "converted" subjects, Web3 needs "co-creating partners."

Web2 marketing relies on traffic, while Web3 marketing relies on consensus; Web2 pursues conversion rates, while Web3 pursues participation.

Web3 marketing ultimately measures value through incentives, participation, co-construction, and autonomy. User behavior and on-chain data yield results.

Airdrops, leaderboards, task systems, AMAs, rankings, early participation rewards—these mechanisms form a Web3 "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 in the attention economy, InfoFi emerged, reshaping information distribution and asset forms, attempting to redistribute power in "who owns attention, who controls information," almost swallowing the entire attention resources of Web3 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: relying on the attention economy to break out 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 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.

Users checking data is a passive behavior, but through Quest, it transforms into interactive behavior—completing transactions, participating in governance, trying out new DApps, allowing traffic to settle, enhancing user engagement 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 a means to enhance community activity and marketing effectiveness.

However, all task incentives face a difficult problem: the one-time nature of incentivized behavior makes it hard to form effective retention.

Bitcoin.com also faced intense 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 Web3 user lifecycle management platform TaskOn, Bitcoin.com linked rewards to product usage and launched a series of Quests. Users, through continuous participation and ranking incentives on the leaderboard, transitioned from "passively receiving rewards" to "actively contributing value."

With the continuous infusion of tools like points, level systems, advanced tasks, and community interactions, TaskOn's automatic verification and reward distribution mechanisms achieve continuity in user behavior. The data dashboard provides real-time feedback on retention rates and participation, significantly increasing community activity, with core users beginning 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 Web3 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, Web3 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.