The meme cryptocurrency Dogecoin fever that started as a joke continues day by day, and Wincrypto, an integrated marketing company in Greater China, interviewed Wayki Sun, founder of WaykiChain. With the recent surge in popularity of Doji Coin, the name of Wayki Sun has also appeared several times on major social media outlets in Asia, especially China. According to WinCrypto, this interview was conducted in-depth to find out the relationship between Waykey Sun and Dogecoin.
<The following is the full text of the interview>
Q. We know you are the founder of WaykiChain. However, many people don’t understand why your name is mentioned with DogeCoin, the hottest issue these days. In the cryptocurrency industry in Asia, especially China, the names’Wayki Sun’ and’Fencer’ are considered to be on the same level as DogeCoin. I want to know why you have a close relationship with Dogecoin.
​A. The relationship with Dogecoin dates back to the end of 2013. In the early days, there were many Dogecoin users. All data metrics, including on-chain addresses and transfers, Reddit discussions, global offline events, and participants in discussions in China and around the world, all hit highs, even higher than Litecoin. However, the market cap was not large, so I thought Dogecoin was extremely undervalued.
Q. In the early days of Dogecoin, one of the founders gave up this project. It has been confirmed that Dogecoin has invested more than $15 million in promoting the Asian community. Why did you spend so much energy and resources on DogeCoin promotion when the founder didn’t believe in your creation?
A. There are two reasons. First, looking at the reasons why the founder is not optimistic about Dogecoin, Billy Marcus, the founder of Dogecoin, turned Dogecoin into a kind of meme. You may not have seen the true meaning of blockchain (including Bitcoin), and despite treating Dogecoin as a joke, you may have been surprised by the interest of the community in a short time.
The entire cryptocurrency industry showed a huge decline, and so did Dogecoin. Many Dogecoin users, especially investors with large positions, were trapped, and at that time the Dogecoin community, like many communities today, praised the project when prices rose, cursed when prices fell, and raised prices. Requested and attacked the founder.
Initially, Billy Marcus was active in the community and patiently explained everything. For him, Dogecoin was still a “stupid” cryptocurrency, but eventually Dogecoin became the currency that people traded for real money. It was stupid from the start and had to remain stupid. However, many in the community disagreed with Billy Marcus’ idea and attacked him. Over time, pressure from the community intensified so much that Billy Marcus eventually gave up Dogecoin.
Second, I have been investing in secondary markets for years and have my own views. Various indicators are evaluated to determine the quality of the project in the investment. At the time, Dogecoin had very good data in all respects, including wide public support, very active, many blockchain addresses and Reddit posts, and all indicators were very high. (Data was extracted from the Baidu Encyclopedia and compared to Bitcoin and Litecoin.) I thought these metrics were seriously underestimated.
The founder’s actions didn’t affect my judgment. The founder, who gave up the project, shakes off the trust of the community, but I was willing to invest heavily because I still rated Dogecoin as a high-quality project. This is what I do. No matter what others think, I’ll accept this if you’re not optimistic and give up.
When the founder left, Dogecoin’s popularity in Western communities such as Reddit also hit a bottom. I led the team and acquired Dogecoin to rebuild the community. We establish Dogecoin Association and Dogecoin Foundation in Hong Kong, hold offline events, add traffic, support listing on major exchanges, protect secondary market investors when the exchange is closed (e.g. American Cryptsy, British MintPal, China bter.com and btc38, etc.), etc. Through a series of’rescue’ work, Dogecoin’s user spirit was maintained.
The market capitalization of Dogecoin was only $7.8 million, a record low, and reached a high of $156 million. I personally invested tens of millions of yuan. It can be said that I spent money and resources to raise Dogecoin, and now Elon Musk also supports Dogecoin.
Q. Dogecoin is popular today thanks to Elon Musk on Twitter as well as evangelists from the early Dogecoin community. Do you think Dojicoin evangelism has brought about great ideas and experiences that can be used in other blockchain projects?
A. Currently, it is consensus and marketing. People with the mind of individual investors have the world. Whether you can control individual investors and whether they can trust you and reach consensus is the key to the success or failure of a project. In addition to that, you must have persistence and faith in your choices.
At the time, I was very confident about the justification of the investment, the marketability, and the Dogecoin on-chain data. How confident were you?
As long as I find something worthwhile, I will go ahead with the project development. I believe other people will see its value in the end. After all, if the gold keeps shining, it will only take more time.
I’ve been observing the dynamics of Dogecoin addresses every day and have been very clear about the exchange’s inflow/outflow metrics. Even though Bitcoin fell to $900, I still didn’t sell it, just bought Dogecoin. History has proved that my choices, persistence, and vision were right. Dogecoin’s current popularity and development exceeds all expectations at the time.
Q. Now, as the founder of Waykichain, will you apply your Dogecoin evangelism experience to WaykiChain?
A. I will upgrade, not just copy. Blockchain projects are developing rapidly in recent years. Numerous public chains work well. For example, learn successful experiences from Ethereum and Ethereum founder Vitalik Buterin.
Dogecoin’s success is mainly in viral marketing or pop culture marketing. This has won the hearts of all ordinary users. The success of Ethereum and other top public chains stems from highly encouraging and cohesive founders who attract other talented communities and resources.
The two methods are different, but we will take the essence and then integrate the knowledge we have gathered over the years and implement it in WayKeychain.
For example, I used the Dogecoin experience in Waykeychain marketing. We held a large-scale airdrop event of Waykeychain tokens on major global SNS platforms such as Twitter, Weibo, and Totiao to promote the content on Waykeychain. We also held offline meetings all over the world. However, it was stopped due to corona. Currently, it is planned to start over in China first. An offline conference was held in March. So far, it has been held in seven cities in a row and communicated closely with local supporters.
Offline meetings are more efficient when communicating the value, skills, and strengths of the project. All participants must wear a mask, but as the host city increases, the passion of supporters is increasing. (In the case of offline conferences, we strictly adhere to health protection measures to prevent virus infection) We travel around China through three to four meetings a month so that more people can learn about WayKeychain. We will promote it so that more people can know it. After the coronavirus is over, offline events will be held around the world.
We would like to take this opportunity to introduce our secret weapon WGRT. According to Tokennomics, 30% of the supply will be used for community airdrops and marketing. At major conferences and major social media, we offer tokens without hesitation.
We will continue to evangelize until more and more users agree and believe in WayKeychain. If we participate in 30 or so offline conferences and do not get the promotional effect we want, we will think again and participate in 100 conferences. If 100 isn’t enough, add 1,000. In the end, we believe we will achieve our goals through patience.
Most importantly, you won’t make a good project that you end up giving up like the founder of Doji Coin. Thanks to our successful experience in e-commerce and investment, we are confident that we will be able to do everything well in the next 10 years. The rise of Dogecoin is the most exciting thing in its years of experience. Since 2017, I have devoted myself to WayKeychain and devoted myself to it as I worked for DojiCoin. I believe in its value and I believe that in the end everyone will see it.
Q. WayKeychain is an integrated DeFi public chain. Compared to Dogecoin, the location is completely different. Do you think Waykeychain will be a project like Dogecoin that people are enthusiastic about in the community?
A. Certainly, the popularity of Dogecoin is enthusiastic. The positioning is different, but the whole blockchain concept, such as decentralization and community opinion gathering, is the same. By comparison, WayKeychain has more mature technology, vision, products (DEX, CDP, Swap, Synthesizer) and team. Besides, I am appealing in the cryptocurrency industry and can also attract more competent and dedicated community members. More importantly, it is more dedicated than the founder of Dogecoin. I see the future of decentralization, believe in digital currency without borders, and believe in the positive effects of blockchain to improve the efficiency of social operations.
I am thrilled with the development of Dogecoin, but I still have to objectively point out some of the existing problems with Dogecoin. It’s really popular right now, but few people actually work in the Dogecoin community. As a simple example, no one maintains a Dogecoin entry in the Baidu encyclopedia. Even now, most of the information is literally entered three or four years ago.
What we did for DogeCoin at the time was the introduction of payments and genuine empowerment. I personally organized the burning of more than 50 million DOGEs on a black hole address (DDogepartyxxxxxxxxxxxxxxxxxxw1dfzr).
And what are most community members doing now? The community seems to have lost its mind. What I saw was a crazy hype. When the price of Dogecoin was high, they asked individual investors to buy it. In fact, the risk factor is already very high. This is completely different from our original intention. We hope that future participants will keep our spirits, do things, and sustain our community.
