From HPOS10I to Moonpig: A Triple Perspective on the Listing Logic of Mainstream Exchanges

As on-chain assets gradually take center stage in the market due to their low barriers and fast processing times, the effect of exchanges listing new coins seems to be waning. However, in the narrative-driven and sentiment-dominated crypto market, exchanges serve as the main aggregation points for liquidity, acting both as value discoverers and trend amplifiers. The directional choices made by mainstream exchanges when deciding to list new coins are quietly sketching the foundation of "quality assets" in the next cycle.

Different Listing Logics: Star Projects vs. Grassroots Projects?

Looking back at the recent listing patterns of major exchanges, Binance tends to choose projects with significant user bases, star teams, or strategic investment backgrounds, and emphasizes "official incubation" labels like Alpha and Launchpool, highlighting platform empowerment and compliance review; OKX, on the other hand, leverages its wallet advantages to significantly accelerate community engagement, emphasizing that "on-chain performance is a liquidity signal."

Huobi HTX, in this round of new coin listings, has demonstrated another dimension: not being constrained by financing backgrounds or early VC backing, but rather focusing more on community enthusiasm, narrative strength, and transparency, forming a selection logic that is closer to "real consensus discovery."

Taking the recent new assets launched on Huobi HTX, such as HPOS10I, SOON, and Moonpig, as examples, these three distinctly styled new assets cover three major hotspots: meme culture, technical narratives, and grassroots culture. Below, we will analyze how mainstream exchanges construct their "new coin value discovery system" from three perspectives: platform, project, and user.

Platform Perspective: Community-Driven + Deep Narratives + On-Chain Activity = A New Formula for "Being Listed"
In traditional impressions, "listing" on exchanges often implies resource operations, capital promotion, or strategic bets behind the scenes. However, Huobi HTX's recent selection strategy shows that while traffic is still important, there is a greater focus on whether the "source of traffic" and "narrative dimensions" are healthy and sustainable.

"HarryPotterObamaSonic10Inu" (abbreviated as HPOS10I) is referred to as the "ultimate form" of memes, standing out due to its typical characteristics of "chaotic narrative + community autonomy + multiple cultural extensions." What Huobi HTX values is the self-organizing ability of the real community behind it, as well as the diverse narrative possibilities derived from NFTs, e-commerce, and brand IP. The choice to list HPOS10I also reflects a trend shift: exchanges are no longer just chasing short-term traffic but are placing greater importance on the dual potential of narrative depth and ecological extensibility.

Project Perspective: Meme-ification of Technical Projects, Real Hard Core Hidden Beyond the Packaging

In a narrative-driven market, purely technical projects often struggle to open up liquidity early on if they cannot quickly build "emotional tags." SOON provides a solution to this problem.

The name SOON may seem meme-like, but it is actually a high-performance infrastructure project with a complete Rollup architecture. Its proposed "Super Application Stack (SAS)" model not only offers Rollup solutions for L1 but also integrates Web2 user behavior scenarios—such as live streaming platforms and content entry points—with on-chain technology, forming a closed loop from underlying technology to user experience.

Huobi HTX's choice to list SOON sends an important signal: exchanges are encouraging "narrative-friendly technical projects," where "storytelling technology" is more popular than "pure hardcore stacking." In other words, high-quality projects in the future Infra track that can build a clear user imagination space, brand expression, and cultural topics early on will significantly increase their chances of being noticed by centralized exchanges.

User Perspective: Grassroots Projects with Fair On-Chain Launches Can Also Gain Mainstream Platform Recognition

Moonpig is a typical native project of Pump.fun—no pre-sale, no VC, completely community-driven. Driven by both fair launches and humorous culture, its community enthusiasm quickly surged, reflecting a native decentralized spirit and successfully becoming one of the examples of "grassroots projects also entering the centralized space."

The listing of Moonpig on Huobi HTX sends a clear signal: in the future, there will be more "naturally growing" grassroots projects on-chain that have the opportunity to gain attention and recognition from centralized platforms. Those meme projects that can self-select and grow naturally within on-chain communities, if they meet standards for transparency and community activity, can also gain the trust and resource support of exchanges.

Conclusion: Three Main Lines of "Coin Listing" and a Portrait of Future Valuable Assets

From the projects listed in this round, we can clearly outline three main lines of Huobi HTX's current listing logic:

1. Meme projects with long narrative lifecycles: Assess whether the community is genuinely autonomous and whether it has cultural extensibility. Memes cannot rely solely on hype but must possess the content extensibility from "meme to IP."
2. Technical Infra projects: Evaluate whether the technology is hardcore, whether the narrative packaging is approachable, and whether it can quickly stimulate attention. Infra projects should no longer hide deep within white papers but should use meme-like packaging and clear positioning as a bridge to quickly connect with users and liquidity.
3. Grassroots on-chain native projects: Assess whether the on-chain launch is fair and whether it has formed a natural consensus. Grassroots memes with fair on-chain launches, transparent mechanisms, and a short history of no malicious behavior will become the next batch of "potential stocks" that are "seen."

As an established mainstream trading platform, Huobi HTX's listing strategy in the new cycle has clearly shifted from "hotspot tracking" to "narrative selection." The underlying logic is clear: the evolution of the meme market has transitioned from image meme culture to cultural identity and community belonging; the breakout of technical projects no longer relies on traditional BD promotion but instead penetrates core communities through "new narratives" that are closer to user contexts.

In this transformation, the role of exchanges is also changing—not just as intermediaries for asset listings, but as filters for cultural narratives and consensus values. And this is precisely where the true competitive barrier for exchanges lies in the future.