He Yiqi, community-driven coin creation, Alpha listing: The crypto world also has its own "Shandong-style" approach.

The article discusses a phenomenon in the cryptocurrency world, drawing a parallel to "Shandong-style" social etiquette, where success may depend more on understanding unspoken rules and currying favor than on merit.

  • The piece uses the metaphor of a Shandong banquet rule—where the fish head must face the host—to describe how crypto community members interpret and act on signals from influential figures without explicit instruction.
  • It centers on an incident where Binance co-founder He Yi's casual New Year's tweet ("I'm here!") led the community to create and list a meme token of the same name on Binance's Alpha platform, despite no direct involvement from her.
  • This event is contrasted with past criticisms of "best friend coins," where Binance was accused of favoritism in listings. The new approach appears more subtle, operating on implied social cues rather than provable backroom deals.
  • The author argues that when a platform's trends revolve around guessing a leader's preferences rather than project quality, it indicates a problematic culture where flattery can outperform genuine work.
  • A key point is that core crypto resources—like listing rights and insider information—are controlled by people, not code, making social maneuvering ("Shandong studies") a highly effective, if cynical, strategy for success.
  • The conclusion suggests this environment, where the "fish head turns on its own," may be more efficient and insidious than overt cronyism, potentially signaling industry decline if sycophancy is rewarded over innovation.
Summary

Written by: Curry , TechFlow

In Shandong, there's a rule at banquets: when fish is served, its head must face the host.

Whoever is facing whom is the main character and has to drink first. It's not explicitly written down, but everyone in Shandong knows it. No one teaches you; you just learn it on your own.

Recently, someone drew a picture called "Shandong Studies in the Crypto World". A group of people are sitting around a table eating fish. He Yi is sitting in the main seat, with KOLs, crypto investors, and editors on both sides.

Caption: On Binance, which direction should the fish head face?

image

On January 1st, He Yi posted a New Year's tweet. It featured a white horse and a walk along the beach, captioned with four words:

I'm here!

A nice New Year's greeting. Ta ma (踏马), the Year of the Horse, with a touch of playful homophony.

Today, Binance Alpha listed a new coin called "I'm Here!". It was done by the community and has no direct connection to He Yi.

But look at this chain: the top influencer tweets, the community issues tokens, and Alpha is listed.

No one needs to give prior notice.

Last year, Binance was relentlessly criticized by its "best friend coin" counterparts, who accused it of shady dealings and improper transfer of benefits during the listing process. He Yi responded several times, saying that the company was reflecting on its actions, making adjustments, and even creating an Alpha pool for selection.

Last December, she also tweeted that people should stop looking for angles in our official Weibo account and that she would never look at such memes again.

28 days later, her New Year's tweet became a new coin on Alpha.

image

What's the problem with "best friend money"? It's that some people use connections, favoritism, and favoritism.

All of this requires evidence, a chain of events, and a specific close friend.

But "I'm here!" is unnecessary.

There were no backdoors, no connections, and no transfer of benefits. The top leader posted a picture, and the people below immediately sprang into action.

This perhaps touches upon the essence of Shandong learning: you don't need the leader to speak; you have to figure it out yourself.

Some in the community commented that Alpha is now just a tool for currying favor, its purpose being to please the top female figure.

The language is a bit rough, but it describes an atmosphere.

When a platform's trend starts to revolve around a person's social media, when "which coin to list" becomes "guess what she likes," the rules become irrelevant.

The important thing is to understand.

Some people put it even more bluntly: If you want to know if an industry has a future, just ask one question—in this industry, are people who know how to flatter more likely to succeed than people who know how to do their jobs?

If the answer is "yes", then this industry is on the decline.

In the cryptocurrency world, this tactic really works. And the most successful ones all know who to flatter.

image

The core resources in the AI field are technology and products; you have to produce something. Jensen Huang won't give you GPUs just because you call him "daddy" all the time.

The core resources in the cryptocurrency world are the right to list tokens, traffic, and who knows the news first. These things aren't in the code; they're in the hands of people.

What is in a person's hands must be taken in a human way.

In Shandong, the more prevalent the study of human resources, the more it relies on personal connections and information asymmetry, rather than innovation and technology.

He Yi probably had no idea about this. A small MEME with a market value of a few million wouldn't be enough to alarm the co-CEO.

But that's precisely the problem.

She doesn't need to know. The fish's head will turn on its own.

This is much more efficient than using "best friend coins".

A "bestie coin" (a term used to describe a relationship with a close female friend) requires at least one close female friend. Studying in Shandong only requires a certain atmosphere.

Those who understand these rules and implement them thoroughly are, in a sense, also talented individuals.

After all, in this society, people laugh at poverty but not prostitution.

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Author: 深潮TechFlow

This article represents the views of PANews columnist and does not represent PANews' position or legal liability.

The article and opinions do not constitute investment advice

Image source: 深潮TechFlow. Please contact the author for removal if there is infringement.

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