I recently noticed an interesting new gameplay on BSC: stock Meme. At the end of July, http://Four.Meme The Stock Meme feature has been launched, allowing projects to use bStocks tokenized assets as a trading pool. The first supported asset is Nvidia related NVDAb. Subsequently, Binance Wallet launched the "Stock Meme Hot List" and began tracking related projects on BNB Chain and Robinhood Chain. A batch of corresponding tokens have also appeared in the market: MarsCoin: Paired with SpaceX narrative, trading pool uses SPCXB GPU: Paired with Nvidia and AI Narrative, using NVDAb JACKET: also using NVDAb BIYOU: Paired with the S&P 500 narrative, using SPYB So they are called 'stock memes'. There are stocks in the name, but there are no stocks in the wallet. How does it make money? Some people earn money from rising coin prices, while others earn transaction tax dividends. For example, a 3% tax is charged on buying and selling, and the project party uses the tax to buy another token and distribute it to the holders. The more transactions, the more taxes, and the higher the dividends appear. But I think the most easily misunderstood point here is: The so-called dividends usually do not come from the operating profits of the enterprise, but from the taxes and fees generated from on chain buying and selling transactions; The higher the trading volume, the more tax sources there will be, and the trading volume will disappear, leading to a rapid decline in dividends. My understanding is that such projects may indeed be fierce in the short term, as they stack Meme, US stocks, AI, RWA, and Binance ecosystems together, with high dissemination efficiency. But its risks are also more complex than ordinary Memes: High transaction taxes will consume profits; The so-called dividends are not stable and essentially depend on trading volume; Whether stock tokens have sufficient reserves, redemption rights, and holder rights needs to be confirmed item by item; But Meme itself does not represent company equity; Contractual authority and tax rate adjustments may both affect the interests of holders. If I participate, I won't first look at how high APY is, but will first confirm three things: Whether the contract address comes from the official entrance, whether the contract authority and tax rate can be checked and changed; Can I buy and sell normally; Is there a real on chain record of dividends, rather than a promotional statement. The biggest fear of such projects is not a decline, but the disappearance of trading heat. Once attention is diverted, the flywheel may quickly become a reverse loop. In my opinion, stock Meme can be studied and traded with small positions, but it cannot be treated as a stock, let alone a stable dividend product. At the end of the day, stock memes are still playing with attention and liquidity, not corporate profits.