Changpeng Zhao (CZ) detailed the unintended rise of Chinese language memecoins on BNB Chain and defined why Aster’s hidden orders present a structural benefit over Hyperliquid.
Throughout his Oct. 10 interview with CounterParty TV, the previous Binance CEO attributed BNB’s current meme explosion to an unplanned Mid-Autumn Pageant submit and outlined his funding thesis, favoring privacy-focused perpetual DEXs over clear options.
BNB Chain’s Chinese language ticker surge began when Zhao posted “Blissful Mid-Autumn Pageant, submit your greatest memes” through the conventional vacation.
The group responded with moon-themed content material and Chinese language-language tickers, together with Zhao Chang’e, a wordplay on Zhao’s title that referenced a feminine deity from Chinese language mythology.
He acknowledged:
“It wasn’t deliberate. It simply slowly developed into that. Every little thing I tweet, they flip right into a meme. Sooner or later I mentioned, screw that. I’m simply going to tweet freely.”
5 BNB Chain memes have reached market capitalizations of $100 million to $500 million in current weeks, attracting Solana merchants. Zhao characterised BNB merchants as extra holder-focused because of the chain’s utility background, contrasting with Solana’s faster-paced meme tradition.
Zhao mentioned:
“They are usually extra holders. They don’t go up and down the following day.”
BNB vs Solana: open vs unique
Zhao pushed again on the notion that BNB operates as a closed vertical from launch pad to Binance itemizing, arguing that the ecosystem stays extra open than Solana’s infrastructure.
He mentioned:
“Binance lists tokens from each blockchain, even meme cash from each blockchain. Belief Pockets helps BNB Chain, Solana, and plenty of different blockchains. Phantom doesn’t assist BNB Chain. Radium solely operates on Solana. Their ecosystems are literally rather more unique than ours.”
Zhao defined that Solana’s meme focus partly resulted from SEC lawsuits concentrating on utility tokens through the former President Joe Biden administration.
Tasks launching tokens with actual use instances confronted securities violations, pushing builders towards meme cash that declare no utility:
“In the event you launch an actual challenge with a utility token, you’re going to get a lawsuit from SEC. Meme cash, we simply declared there’s no worth, there’s no utilities, only for enjoyable.”
Aster’s privateness edge over Hyperliquid
Zhao’s Aster funding stems from 20 years of buying and selling expertise, displaying that skilled merchants require order privateness. He argued that Hyperliquid’s clear on-chain order e-book creates a deadly flaw that Wall Road members can’t settle for.
Based on Binance’s former CEO:
“Each single dealer on Wall Road I talked to don’t want different individuals to see their orders in actual time. “If precisely how one other particular person goes to commerce, there’s all the time one method to commerce in opposition to them for them to lose cash.”
Zhao posted in regards to the privateness difficulty in June, triggering 30 challenge pitches that day. Aster carried out hidden orders, prompting Binance Labs to speculate alongside different privateness DEX tasks.
The absence of privateness leaves merchants susceptible to people who can reverse-engineer their buying and selling algorithms and exploit them. Zhao acknowledged that Hyperliquid might add privateness options, however famous that exchanges compete on a number of dimensions past single functionalities.
Apart from the necessity for privateness, Zhao highlighted that how an alternate protects customers and offers with errors is what issues.
Lastly, Zhao additionally predicted that perp DEXs will rival centralized alternate volumes inside one cycle. New customers are onboarded by way of centralized platforms with acquainted interfaces, then migrate to DEXs for a broader choice and earlier entry to tokens.
Based on his timeframe:
“In 20, 30, 50 years out, all the pieces shall be on-chain. However within the interim, if there’s a giant rush of conventional customers, CEX will get higher. Afterwards it is going to slowly slip into DEXes.”
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