The Merlion is a born warrior, fighting against capital authoritarianism within the decentralized world
Since 2023, we have had a premonition that a new global financial crisis is looming. After years of aggressive money printing by the Federal Reserve, the world economy has been thrown into turmoil once again with the US dollar tightening. The recent collapses of Silicon Valley Bank and Swiss Bank in the first half of this year are just precursors to the global financial crisis. The actions taken by neutral country Switzerland to freeze Russian deposits have exposed the hypocrisy of centralized finance to the world. The collapse of the US dollar hegemony is imminent, and we will soon witness the gradual collapse of the most powerful stablecoin in centralized finance, followed by a worldwide financial crisis that Elon Musk has been predicting all along.
Undoubtedly, trust in centralized finance has been questioned, and ordinary retail investors face the risk of losing their money held in banks overnight. Meanwhile, the capitalists on Wall Street are taking advantage of their gains and fleeing, using their ill-gotten wealth to bottom-fish in anticipation of the upcoming economic downturn, repeating the actions they took during the previous financial crisis.
During the last global financial crisis, the magnificent BTC emerged as the world’s first cryptocurrency, the first and largest meme coin. The birth of BTC marked a great milestone in history, signifying the people’s resistance against the oppression of centralized finance and their desire to protect their assets from being plundered by the capitalists of centralized finance.
The meme culture brought about by BTC has swept across the world. Meme coins emerged in an unstable economic environment because they represent the power of the people. This power is a resistance against the monopolistic control of centralized financial capital and expresses the people’s anger towards the misdeeds of centralized finance. However, we are now growing concerned and vigilant about the emergence of “centralized capital authoritarianism” within meme coins.
We have observed that the development of many meme coins is beginning to detach from the community and move towards a direction of “centralized capital authoritarianism.” These meme coins are no longer as pure and instead have become tools for certain individuals, organizations, or institutions to manipulate cryptocurrency prices. It is a tragic occurrence within the world of cryptocurrency.
Therefore, a group of decentralized finance believers from around the world gathered in Singapore, at the intersection of East and West, and after numerous meetings, decided to create a brand new decentralized financial model for the development of meme coins. Their aim was to protect hundreds of millions of cryptocurrency users worldwide from the harm caused by “centralized capital authoritarianism” within meme coins.
This new decentralized financial model is symbolized by the Merlion, the iconic creature representing the meeting point of East and West, and the meme tokens created under this model are named after this symbol — Merlion Tokens. The Merlion represents the beginning of a new era of decentralized financial transformation for meme coins.
