Recently, a new Meme trading tool has secured tens of millions in funding and has brought in industry heavyweights as advisors, which has indeed attracted a lot of attention. Interestingly, its strategic approach is very clear—it's not about competing with other product categories, but rather focusing on the huge profit cake brought by the Meme wave on BNB Chain.

From a business logic perspective, this approach makes sense. Data shows that tools like GMGN can generate $4.5 million in profit over just seven days. This means that if a new entrant can capture half of that share, the initial investment of millions can be recouped in just a matter of minutes. In comparison, the goal is to replicate success within its own niche—similar to the competitive relationship between Aster and Hyperliquid, where new players need to find a specialized segment.

However, history offers lessons. YZi Labs previously invested in a trading terminal project with a similar positioning, but it gradually fell behind in competition with GMGN and eventually faded away. This indicates that funding and backing alone are not enough; the real test lies in the product itself.

I personally tested it with a small amount, and honestly, the trading experience was somewhat disappointing. The first transaction requires about $5 in gas fees, which is a high threshold for small traders. More importantly, it doesn't have speed advantages—after using GMGN and switching over, I felt noticeable lag and occasional errors. When trading Meme, every second counts, and these issues can directly influence users' trading decisions.

To truly compete with GMGN, the product experience must match the standards of competitors; otherwise, it can only rely on airdrops to incentivize whales to generate trading fees. But this model has limited sustainability—without core competitive advantages after token issuance, it risks falling into a passive position.