In early 2024, an ordinary Telegram user participated in the "click mining" game Notcoin, initially investing 30 minutes a day to click the screen, and accumulated over 50 million game coins after three months. After the NOT token launched on Binance in May, their game coins were exchanged 1:1 for on-chain tokens, with a value skyrocketing to $12,000. This case illustrates NOT's core model innovation: transforming user behavior into on-chain assets and achieving zero-cost cold start through community virality.

2. Rising Narrative: Triple Engine Driving Value Explosion

  1. Strong Empowerment from Exchanges

    • Binance Cartel Effect: Binance supports NOT explicitly, launching new coin mining (staking BNB/FDUSD to mine NOT), with a trading volume of $2.175 billion on the first day of trading (accounting for 46.56% of the entire network), creating liquidity siphoning in the short term.

    • OKX Dual-Line Support: Simultaneously launching TON staking mining, reducing the participation threshold for holders, further expanding the user base.

  2. Deflationary Mechanism Stimulation

    • The token economy is designed for 100% full circulation, but by staking and burning, it reduces selling pressure: early on, 18 million NOT were destroyed (about $350,000), and an "energy tank" system was opened to limit daily mining output, delaying inflation.

  3. TON Ecosystem Empowerment

    • Andrew Rogozov, co-founder of the TON Foundation, personally endorsed NOT, positioning it as the "entry point to the TON ecosystem", integrating Telegram's 800 million user traffic, attracting 20 million users in 26 days, creating viral spread.

3. Project Model: Paradigm Innovation of Gamified Finance

4. Application Scenarios: From Meme Coins to Ecological Infrastructure

  1. Web3 Traffic Entry

    • Integrating TON ecosystem DApp exploration features, users access GameFi and SocialFi applications through NOT tokens, forming a closed loop of "Telegram super application".

  2. Chain Game Platform Extension

    • Developing gameplay like "Turbo Mode" and "Team League", transitioning to a chain game platform, replicating the record of 95.6 million transactions in a single day on Aptos chain game Tapos.

  3. Stablecoin Settlement Experiment

    • Exploring collaboration with Hong Kong dollar stablecoins (e.g., JD-HKD) to achieve dividends from real assets like power station revenue rights, enhancing token utility.

Risk Warnings and Controversial Points

  • High Volatility Risks: The secondary market trading volume of NFT pre-sale vouchers exceeded $20 million, with concentrated selling pressure at the initial listing.

  • Regulatory Arbitrage Risk: Relying on Telegram's anonymous ecosystem, if subjected to compliance review (such as the SEC's accusations against Libra), it may impact valuation.

  • Narrative Sustainability: Relying on exchange support and community enthusiasm, it’s necessary to quickly implement use cases to break free from the "Meme label".

Conclusion: Insights and Challenges from NOT

The success of NOT confirms the **"Traffic + Exchange + Deflation"** three-in-one token explosion model, but its long-term value depends on whether it can evolve from "click games" to the "TON ecosystem operating system". If it can integrate stablecoin settlement and real asset tokenization scenarios (such as the case of dividends from the Coefficient Power Station), it may become a milestone for large-scale adoption in Web3.

#NOTCOİN $NOT @The Notcoin Official