In recent years, centralized exchanges have indeed become visibly friendlier towards Meme coins, with quick listing and rapid responses. However, the issue has never been about 'whether they are willing to list' but rather about their fundamental misunderstanding of what Meme is. A Meme has never been a standard financial asset; it is more akin to a collection of emotions and attention. Its price is driven more by dissemination, discussion, and the rhythm of timelines rather than by fundamentals or traditional technical indicators. The reality is that CEXs still rely on outdated methods like observing K-lines, trading volumes, and depths to handle a market that is essentially driven by social networks and emotional diffusion, which is a mismatch in itself.

What MemeMax aims to do is not simply to 'turn Meme into perpetual contracts.' That kind of thing can be replicated by any major exchange within a week. Its true entry point is to try to make the contract mechanism understand Meme for the first time at the design level: price is not just a function of trading volume but must consider community enthusiasm, dissemination speed, and the timing of attention bursts; volatility is not solely a result of historical statistics but rather the slope and rhythm of emotional changes; the narrative cycle is no longer an old template of rise and fall corrections but a complete cyclical structure from silence, brewing, igniting, to diminishing. These dimensions cannot be expressed using traditional perpetual contract models; a new underlying design must be created from data sources, factor construction, to pricing logic specifically for Meme.

Because of this, such innovations cannot simply be copied by CEXs. Exchanges can quickly list new assets and capture traffic, but their mechanisms are highly inertial, making it difficult to overturn existing pricing and risk control frameworks for an asset class that is still rapidly evolving. They can chase hot trends but are not adept at proactively shifting at the rule level. Conversely, if in the future, Meme perpetual contracts truly create a positive feedback loop of 'community enthusiasm → trading participation → price feedback → stronger dissemination,' then the pressure will instead be transmitted to CEXs, forcing them to adjust their contract designs. By that time, the exchange that first absorbs this idea will have a better chance of capturing the next generation of Meme players, rather than just picking up the leftover traffic from the previous round.