The Dawn of PolicyFi

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Are we, dear reader, on the precipice of a new dawn, a veritable sunrise of PolicyFi? 🌅

In a previous discourse, I posited that memecoins are not merely whimsical tokens of digital folly, but rather the harbingers of a new civic engagement. They create speculative markets where the common citizen can trade coins tethered to the very policies of their government. Imagine, if you will, a world where the whims of the populace are reflected in the market caps and holder distributions, guiding the hands of lawmakers as they craft public policy. A delightful thought, is it not?

I dubbed this phenomenon PolicyFi, presenting it as a noble endeavor amidst the chaos of memecoins.

With the Trump administration now gracing us with its presence, and the First Couple launching their own memecoins, one must ponder: are we truly entering the era of PolicyFi? And should we, in our infinite wisdom, embrace it? 🤔

My answer, dear reader, is a resounding yes! The convergence of a meme-loving administration, a meme-enthused citizenry, and meme-driven advocacy has created a veritable garden of opportunity for PolicyFi. Surprisingly, this may lead to better policymaking. Who would have thought? 😂

Meme Admin, Meme Citizenry, Meme Advocacy

PolicyFi demands the presence of meme-sensitive government actors, or as I like to call them, “meme admins.” When I first penned my thoughts, I believed the incoming administration fit this bill splendidly, recognizing the formidable power of memes. I was particularly enamored with Elon Musk’s affection for dogecoin and Trump’s uncanny ability to conjure memes like a magician pulling rabbits from hats.

Yet, I must confess, the President-Elect’s launch of his own Solana memecoin (Trump), swiftly followed by Melania’s, took even me by surprise. (I suspect the timing was influenced by the ever-watchful Emoluments Clause.)

The Trump memecoins skyrocketed, siphoning liquidity from every crypto nook and cranny, nearly bringing the Solana blockchain to its knees. If you are a crypto aficionado, you will forever remember where you were when the First Couple unveiled their memecoins. A moment for the history books! 📚

These coins split the crypto community like a well-aimed meme, but more importantly, they confirmed that Americans had indeed elected a “meme admin” ready to engage with financialized memes. A delightful twist of fate, wouldn’t you agree?

The Trump coins also ushered in a wave of new citizens into the memecoin realm, particularly political coins. The statistics surrounding the Trump and Melania memecoins are staggering. Most holders were fresh retail buyers, with about 50% having never dabbled in Solana altcoins before. Almost half created their wallets on the very day they purchased these tokens, and over 80% of holders possess less than $1,000 worth of assets on Solana. Retail popularity, indeed! 🤑

Many of these new recruits seem utterly bewildered about their next steps in the crypto world. (Fear not, they shall find their way!)

Alongside our meme admin and meme citizenry, we witness a proliferation of innovative policy-focused memecoins. Tokens like D.O.G.E. (Department of Government Efficiency) and SBR (Strategic Bitcoin Reserve) have attracted considerable trading volume as the new administration took the reins, with investors speculating on its initial policy moves.

However, these policy tokens remain somewhat primitive in the grand scheme of PolicyFi, focusing more on attention flows than on genuine engagement with government actors.

Enter the MILK token, which embodies the PolicyFi ethos splendidly. Its mission? To alter U.S. food policy to permit the sale of unpasteurized milk. The MILK community rallies around this tangible policy goal through their token holdings (2,000 strong), a market cap that has soared to USD $1M, and a constant stream of MILK memes flooding social media. In a true PolicyFi era, we would expect a Cambrian explosion of tokens akin to MILK. 🥛

A Dialogue with Leviathan

Expressing political will through meme policy markets is essential, but it is not enough for PolicyFi to flourish. Governments must also engage in

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2025-01-30 01:04