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CZ: Understanding the Pain and Regret of a Junior Member, Strongly Encourages Respecting Others' Choices
BlockBeats News, January 14, CZ Responds to "Meme Coin HAPPY-SCI Donation of $420,000 Destroyed, Nearly $4 Million Market Value Almost Zero Event", expressing understanding of the community and junior partner's heartache and pain. However, there are always two sides to a story, and CZ made the following clarifications:
1. You cannot force a "piggyback" on others. Everyone can try to piggyback, but if others do not respond or the handling is not as expected, one can only accept it. After all, you are the one piggybacking on others. In a decentralized world, it is essential to respect others' choices.
2. Everyone has their own thoughts. Not everyone wants their small charity project to be associated with a (unknown creator) Meme token. This can indeed taint the charity project. Is it really charity or helping junior partners get rich overnight? Do you have a position yourself? Is it truly charity, or is it a case of false advertising? It's hard to explain clearly even if you have a mouth. Maintaining integrity is more important.
3. Everyone's situation is different. In companies or projects where I can offer advice, strict opposition to insider trading is always "recommended." If there is any involvement with external projects, the conflict of interest is unclear, and most likely, you will be dismissed. I believe everyone fully supports this. The community wants employees to support their projects and eliminate the possibility of insider trading, but these two cannot coexist.
Furthermore, CZ reiterated that he does not have a good understanding of the overall situation, but for Siyuan, reason 2 might be the most significant. Respect your choices. Do not push all the blame onto others.
YZi Labs member Siyuan (@cyodyssey) initiated the pure public welfare project Happy-Sci at the end of 2024. Recently, the community issued an unofficial Meme token HAPPY-SCI based on this. The Meme coin has a 3% transaction tax, claiming that all proceeds will be donated to the original charity address (controlled by Siyuan). The community quickly hyped this up, and the market value once approached $4 million, with the donation address receiving about $420,000 worth of BNB. Subsequently, Siyuan came forward to reiterate that Happy-Sci is a non-public fundraising and non-minting charity project and proceeded to destroy around $420,000 worth of BNB. As a result, the unofficial Meme token HAPPY-SCI, without official endorsement, saw its market value drop to $160,000.
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