Introduction: The reason why cryptocurrency has become one of the fastest growing networks in human history is mainly due to three core elements: decentralized characteristics that resist centralized control, revolutionary blockchain technology innovation, and economic effects that enable ordinary people to achieve wealth leaps. However, the current market situation forces us to rethink: Are we deviating from these fundamental values?

The Dilemma of the Traditional Model

Since the craze faded in 2017, there has been a fundamental shift in the way crypto projects raise capital. From the initial approach of stimulating community participation and the desire for wealth, it has shifted to a model that relies on high fully diluted valuations (FDV), low circulating supply, and venture capital (VC) support. The result of this shift is obvious: the median performance of tokens issued in 2024 is about 50% lower than that of mainstream currencies.

Why is this happening? The core of the problem is that the current fundraising model of crypto projects has converged with the IPO system of traditional finance (TradFi). As Arthur Hayes described, venture capital firms tend to support projects whose founders' backgrounds fit the stereotype of "successful founders": graduates from top universities around the world and work experience in large technology companies or investment banks. This selection criterion has led to a highly homogenized investment environment, which has limited innovation and caused a serious disconnect between projects and the ultimate retail users.

The rise of MEME

In this context, the outbreak of MEME coins seems less surprising. Unlike VC-backed projects, MEME coins provide a more equal way of capital formation: all tokens are fully released at the time of issuance, and the initial FDV is usually only a few million US dollars, so anyone can participate equally. Although most MEME coins will eventually return to zero, they satisfy retail investors' desire for the opportunity to get rich quickly, which is precisely the original attraction of cryptocurrency.

For ordinary investors, the attraction of early participation in the MEME coin project is that it may jump up a few points on the wealth ladder. Every participant is aware of the risks, but it is this pursuit of wealth effect that drives the development of the entire crypto ecosystem. Just as Bitcoin has risen from $0.33 to today's price, this astronomical return is the core driving force that truly attracts ordinary people to enter the crypto world.

From MEME to Network State

In this context, the HOME project proposes an unprecedented innovative proposition: How to combine the communication power of MEME with the vision of the network nation? How to build a sustainable value system while maintaining high growth potential?

HOME's innovation is reflected in three aspects:

The first is the token economics design. HOME adopts a 100% fair launch model, with no reservations, no private placements, and no team shares. This ensures that every participant is on the same starting line. But unlike ordinary MEME coins, HOME has designed a complete value capture mechanism, including governance rights, ecological benefits and other dimensions.

The second is the communication mechanism. HOME fully utilizes the viral characteristics of MEME culture, but unlike the short-term speculation of traditional MEME coins, HOME transforms this communication power into community identity and cultural cohesion. Through carefully designed visual symbols and cultural narratives, HOME is building a digital community with a unique identity.

The most critical thing is governance innovation. HOME introduces the concept of a cyber state, which is not only a governance framework, but also a new organizational paradigm. Through the DID (decentralized identity) system, DAO governance structure, and innovative value distribution mechanism, HOME is gradually transforming a community driven by MEME into an autonomous digital state.

Why now?

Just as Ethereum’s pre-sale in 2017 saw early participants reap thousands-fold returns, the current market environment is also giving birth to new opportunities. With the continuous advancement of blockchain technology, the significant reduction of transaction costs, and the improvement of decentralized infrastructure, we are at the best node of technological and social innovation.

The limitations of the traditional VC model are becoming increasingly apparent: excessive initial valuations make a thousand-fold return impossible, complex token unlocking mechanisms hinder real market pricing, and the elite governance structure runs counter to the decentralized spirit of Web3. The market needs a new paradigm that can both maintain the innovative vitality of cryptocurrencies and build a sustainable value system.

HOME's model provides a possible answer. It proves that MEME culture and formal governance structures are not contradictory, but can reinforce each other. By cultivating communities through MEME, consolidating values ​​through governance, and ensuring autonomy through technology, HOME is creating an evolutionary path from social protocols to network states.

Future Outlook

As the Web3 ecosystem continues to develop, we are likely to see more innovative experiments like HOME. These projects will not be limited to traditional token economic models, but will try to build more complex value capture systems. In this process, MEME culture will continue to play its unique role, but its form and content may be more diversified.

From MEME to Network State, this is not only the development path of HOME, but also the evolution direction of the entire Web3 industry. In this process, whether the short-term dissemination and long-term value, community initiative and formal governance, cultural identity and economic incentives can be balanced will be the key factors that determine the success or failure of the project.

In this crypto world full of opportunities and challenges, HOME is writing a unique story. If you agree with this innovative attempt to combine MEME culture with the vision of a cyber nation, please follow @HOME_Community_ and join this revolutionary journey to redefine Web3 value capture.

Here you will see:

  • How to transform the spread of MEME into lasting community value

  • How decentralized governance can be truly implemented in practice

  • How the concept of a cyber nation can move from concept to reality

Now is the best time to start this journey.