X Content Order Reshuffle: Three New Rules Redefining Value Stratification

Odaily星球日报Published on 2026-01-23Last updated on 2026-01-23

Abstract

X platform has initiated a major restructuring of its content ecosystem, introducing three core changes to redefine value distribution and content hierarchy. First, a dedicated "Meme" category has been introduced, separating entertainment-focused content from informational assets. This reflects a broader content stratification strategy. Second, the platform has overhauled its creator monetization model. Product lead Nikita Bier confirmed that creator revenue is now solely based on views from the home timeline, excluding replies from earnings calculations. This move effectively devalues low-effort, high-frequency interactions (a practice known as "zuilou" or engagement farming), as the platform now views excessive interactions as inefficient and self-limiting for account reach. Third, X is advancing its "Smart Cashtags" feature, currently in testing and expected to launch next month. This tool allows users to tag tokens or smart contracts in posts, enabling others to view real-time prices and related discussions. It signals X's intent to build infrastructure for "content x finance," structuring asset-related narratives and market sentiment into consumable nodes, with data sourced from both centralized exchanges and on-chain APIs. Concurrently, X has open-sourced its recommendation algorithm, which relies on a Transformer architecture. While making the system more transparent, exposure is now increasingly determined by two key metrics: content "understandability" (clear str...

Original | Odaily Planet Daily (@OdailyChina)

Author | Ethan (@ethanzhang_web3)

On January 22, the X platform updated its "Global Trends" page. Following a series of adjustments around content and incentive mechanisms, Odaily Planet Daily found that the platform has added a separately categorized Meme section. Various memes, fun images, and short videos are centrally presented, allowing users to intuitively see the Meme themes and emotional trends currently spreading inside and outside the platform.

At first glance, this seems more like an entertainment-focused content organization. But when placed within the context of X's recent intensive content governance actions, the emergence of this Meme section appears far from "lightweight."

Within X's product logic, content is being re-stratified: which parts belong to emotional expression, and which are considered information assets. The platform is beginning to provide clearer boundaries through the interface and categorization itself.

It is precisely against this backdrop that X has recently tightened creator incentives and API usage rules, explicitly stating that reply interactions no longer count towards earnings, and ultimately targeting the InfoFi application model that relies on external incentives to drive posts and interactions. Within the crypto community, these changes were quickly interpreted as a signal—the platform will no longer continue to cede space to the "high-interaction, low-information-density" content path.

Judging from the detail of Memes being singled out, X's adjustment is not just about shutting down old mechanisms but is simultaneously building a new content order.

Why Did 'Zui Lu' Fail? X's Answer is More Direct Than 'Throttling'

Over the past week, X, through a series of mutually reinforcing rule adjustments, has indicated that: X is redefining what kind of behavior is worth being valued.

The change is first reflected in the creator revenue rules. On January 19, X's product lead Nikita Bier, in response to user queries, clearly stated that current creator revenue is calculated solely based on content views on the home timeline; exposure generated from replies is no longer counted towards earnings. This almost directly overturns a long-default growth logic—interaction itself no longer holds monetization value.

X Product Lead Nikita Bier responds to user questions on X

Under the new valuation system, whether it's high-frequency replies, concentrated spamming, or maintaining activity with low-effort content like "gm" or "+1", as long as it cannot push content onto the home timeline, it will no longer be considered a valid contribution by the platform.

This change did not occur in isolation. In subsequent explanations, X further elaborated on the logic behind it: the average user can actually browse a very limited amount of content per day. Excessive posting and frequent interaction do not expand influence but instead prematurely consume an account's daily exposure quota. When truly important information needs to be published, the account often has "no quota left."

In other words, in X's judgment, excessive interaction is not being suppressed but is seen as an inefficient or even self-damaging behavior pattern.

This stance also echoes Nikita Bier's previous public criticism of the crypto community. In his view, the decline in the influence of crypto tweets is not due to deliberate suppression by the platform's algorithm but is a result of the community's long-term reliance on low-value interactions leading to self-consumption.

From the result, X did not deny the existence of "Zui Lu" but chose a more direct and calmer way to deal with it: stop paying for this behavior.

When reply views are completely stripped from the incentive system, the content model of "arbitraging interaction" naturally loses its foundation. The so-called "end of the Zui Lu era" is not a targeted purge but an inevitable outcome of the adjustment to the valuation system.

The Real Background of Smart Cashtags: X Wants to Turn 'Market Sentiment' into a Consumable Object

While reshaping creator incentive rules, X is also simultaneously advancing another more directional product path—Smart Cashtags.

According to public statements by X's product lead Nikita Bier, this feature allows users to directly tag specific tokens or smart contracts when posting content related to market trends or assets. Users clicking the tag in their timeline can view the real-time price of the corresponding asset and all related discussion content within the platform. The feature is currently still in the testing and feedback phase, but the official team has clearly stated that Version 1 will be launched and has provided a relatively clear launch expectation (expected next month).

This means that Smart Cashtags are no longer just a proof-of-concept but have entered the final polishing stage before feature finalization.

Related tweet and Smart Cashtags test page

Initially, the community saw it more as a tool to enhance the user experience regarding market trends. But as discussions deepened, the focus of skepticism gradually centered on several more fundamental questions:

— If an asset is not yet listed on major exchanges, does X have reliable data coverage capabilities?

— Will its price and on-chain information rely solely on centralized exchanges?

— Will it further extend to wallet or trade execution layers in the future?

Regarding the first two questions, Nikita Bier gave relatively clear responses. He stated that the API used by X will "be able to process almost anything minted on-chain in real-time," implying that the data source for Smart Cashtags is not limited to centralized trading platforms but has the capability to interface directly with on-chain information.

As for whether it will support self-custody wallets or allow trading execution within X via CEX widgets, he did not respond directly, only brushing it off with a "following" emoji. This deliberately reserved attitude反而 sparked more speculation within the community about X's next moves.

If we place Smart Cashtags back into X's existing strategic trajectory, this "reservation" is not out of place.

In 2025, X had already obtained money transmission licenses in over 40 US states and was simultaneously advancing the compliance construction of the X Money payment system. At that time, these moves were seen more as part of the "Everything App" narrative, still distant from the content ecosystem.

Entering January 2026, the pace of Smart Cashtags' development began to clarify: the feature was first publicly discussed, followed by supplementary details about the API layer, alongside information leaks regarding compliance and legal aspects. By late January, although still in the testing phase, official channels had released clear timing expectations.

Odaily Planet Daily believes this further indicates that Smart Cashtags is not an isolated product attempt but rather that X is pre-laying the infrastructure for the "Content × Finance" interface.

If we consider it alongside adjustments like creator incentive rules and the phasing out of the InfoFi API, its positioning becomes clear: X is not in a hurry to介入 transaction execution itself but is attempting to compress assets, prices, and market sentiment into a single clickable, trackable content node.

Within this structure, the value of content is no longer simply determined by interaction volume but depends on whether it can form a sustained, consumable stream of information and narrative around a certain asset. In this sense, Smart Cashtags are also not a tool prepared for "Zui Lu" but are reserving an entry point for those specific content forms.

After the Algorithm's 'Lid Was Lifted', Exposure Rights Did Not Become More Democratic

Besides Smart Cashtags, another change frequently mentioned recently regarding X is the official open-sourcing of its recommendation algorithm.

In late January, X's engineering team announced that the latest version of the platform's algorithm had been made public, adopting the same Transformer architecture as the Grok model under xAI. Subsequently, Elon Musk直言 stated that the algorithm is still "quite clumsy," but open-sourcing means users can clearly see its optimization path. For a long time, content being throttled or topics being suppressed was often attributed to the "black box algorithm"; algorithmic transparency at least means the rules are no longer hidden, and the path is traceable.

Homepage of the Github repository for X's newly public platform algorithm

However, open-sourcing the algorithm does not mean exposure rights are distributed equally.

Almost simultaneously, X is advancing a systematic upgrade of its "interest discovery" mechanism. The core goal is to allow new accounts to find interesting content faster without a lengthy follow-finding process. When organizing the timeline, the algorithm is shifting from relying on "who you follow" to "what the system thinks you might want to see."

Under this framework, whether content gains exposure depends on two key criteria: Understandability and Consumability.

  • Understandability: Clear content structure, complete information, easy for the algorithm to identify and categorize.
  • Consumability: Content can be absorbed, understood, and interacted with by users in a short time, forming an effective information flow.

In other words, exposure rights are no longer determined by "interaction volume" but by whether the content can be efficiently identified, distributed, and attract an audience by the system. This marks a shift from the previous model of "who is more active is more visible" to a distribution logic centered on the value of the content itself.

When the platform simultaneously tightens interaction incentives, structures asset narratives, and strengthens interest recommendation mechanisms, a new filtering logic has taken shape. Within such a system, it is no longer surprising that "Zui Lu" is naturally excluded from the mainstream exposure path.

Conclusion: This Isn't Anti-Zui Lu, But a Repricing of Content Value

From the tightening of creator incentive rules and algorithm open-sourcing, to the gradual advancement of Smart Cashtags functionality, and finally to the separate categorization of the Meme section on January 22, X is gradually piecing together a clear path.

Low-value interactions are being stripped away, assets and sentiment are being restructured, algorithms and interest discovery mechanisms are being pushed to the forefront—these adjustments collectively point to one core result: the platform is redefining what kind of content is worth being distributed, valued, and seen.

Under the new order, Memes are categorized as emotional expression, while financial and crypto content is required to have clear structure and directionality; exposure rights shift from "who is more active" to "who is easier to understand and consume." The platform also no longer pays for noise or mere participation.

As analyzed in Odaily Planet Daily's previous article "X Personally Terminates the InfoFi Incentive Model, the Zui Lu Era Concludes," the end of the Zui Lu era is not the终点 but the first perceptible signal of the restructuring of X's content value system. As the new rules land, the platform is building a value system that favors the content itself rather than interactive behaviors.

For creators and the industry, this means: gaining visibility on X in the future will no longer depend on quantity but on whether the content can be recognized by algorithms, absorbed by the audience, and form sustainable value. This new order is both a reclamation of platform sovereignty and a profound reshaping of the content ecosystem.

Related Links:

《Deconstructing X's New Algorithm: The Ultimate Guide to Content Prospecting in 2026》

《X's New Algorithm Exposed: Likes Are Almost Worthless, This Action's Value Soars 150x》

《X Personally Terminates the InfoFi Incentive Model, the Zui Lu Era Concludes》

Related Questions

QWhat are the three new rules or changes implemented by X platform to redefine content value stratification?

AThe three key changes are: 1) Removing replies from the creator revenue calculation, so only impressions on the home timeline count. 2) Introducing a dedicated 'Meme' category to separate emotional expression from informational content. 3) Developing and preparing to launch the 'Smart Cashtags' feature to structure financial and crypto-related content.

QAccording to the article, why did X platform decide to stop counting reply impressions for creator revenue?

AX platform determined that excessive, low-value interactions like frequent replies were not expanding influence but were instead inefficient and self-damaging, as they could deplete an account's daily exposure quota, preventing important content from being seen. It chose to stop incentivizing this 'high interaction, low information' behavior.

QWhat is the purpose of the 'Smart Cashtags' feature as described in the article?

AThe purpose of Smart Cashtags is to structure asset and market-related content by allowing users to tag specific tokens or smart contracts. It compresses assets, prices, and market sentiment into a clickable, trackable content node, aiming to create a sustainable, consumable flow of information and narrative around an asset, rather than just being a simple price tool.

QHow does the article describe the shift in how content gains exposure (visibility) on X after the algorithm changes?

AExposure is no longer primarily determined by who is most active or has the most interactions ('who is more active is more visible'). Instead, it is now based on two key standards: 'Understandability' (clear structure, complete information, easy for the algorithm to identify) and 'Consumability' (content that can be quickly absorbed and understood by users, forming an effective information stream).

QWhat overall shift in content valuation does the article conclude that X platform is making?

AThe platform is shifting from valuing content based on the quantity of interactions and participation to valuing content based on its intrinsic quality, structure, and ability to be efficiently identified by the algorithm, consumed by the audience, and form sustainable value. It is a re-pricing of content value itself, moving away from incentivizing noise and towards rewarding clarity and consumability.

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2.6k Total ViewsPublished 2025.12.05Updated 2025.12.05

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What is SHOPON

Shopify Tokenized Stock (Ondo): A Comprehensive Analysis of Real-World Asset Tokenization in Web3 This article delves into the Shopify Tokenized Stock (Ondo), recognised by its ticker symbol $SHOPON, exploring its implications at the intersection of traditional finance and blockchain technology. As a part of Ondo Finance's tokenized securities platform, Shopify’s tokenized stock exemplifies advancements in democratizing access to global capital markets through innovative digital assets. Introduction and Overview of Shopify Tokenized Stock (Ondo) Shopify Tokenized Stock (Ondo), or $SHOPON, portrays a pivotal innovation in the realm of tokenized securities, allowing investors to gain economic exposure akin to directly owning shares of Shopify Inc. This token, developed under the umbrella of Ondo Finance, not only provides investors with the ability to hold digital representations of the company’s stock but also integrates features such as automatic reinvestment of dividends. This advancement represents a substantial shift in the landscape of decentralized finance (DeFi), linking conventional equity markets with blockchain solutions designed to enhance accessibility, transparency, and liquidity. By eliminating geographical barriers and enabling 24/7 trading capabilities, $SHOPON is positioned as a bridge connecting traditional financial instruments and the emerging Web3 ecosystem. What is Shopify Tokenized Stock (Ondo), $SHOPON? The $SHOPON token serves as a digital manifestation of Shopify Inc.'s shares, engineered to provide a direct correlation to the underlying asset's performance. Through the utilization of blockchain technology, the token gives holders a mechanism to participate in the economic benefits associated with equity ownership, including capital appreciation and dividend distribution. The unique aspect of $SHOPON lies in its automatic dividend reinvestment mechanism, which allows returns to compound without necessitating active management by the investor. This feature inherently enhances its attractiveness as an investment vehicle, particularly for individuals seeking passive income growth alongside exposure to high-performing equities. The tokenization process is facilitated by the custody of actual Shopify shares through regulated intermediaries, ensuring that every $SHOPON token is verifiably backed by real equity. This structure empowers investors with the dual advantages of both traditional financial characteristics and the innovative benefits tied to blockchain technology. Who is the Creator of Shopify Tokenized Stock (Ondo)? The creator of Shopify Tokenized Stock (Ondo), Nathan Allman, is an experienced figure in the finance sector, formerly associated with Goldman Sachs. His rich background includes significant expertise in digital asset development, bridging the gap between traditional finance and cryptocurrencies. Allman’s educational journey, marked by studies at Brown University, provided him with a deep understanding of economics and biology, equipping him with analytical skills that inform his strategic vision. In 2021, he founded Ondo Finance, committing to developing tokenized securities that meet institutional-grade standards while leveraging blockchain's transformative capabilities. Under Allman's leadership, Ondo Finance has focused on creating compliant and innovative financial products that empower a diverse investor base. Who are the Investors of Shopify Tokenized Stock (Ondo)? The investment landscape surrounding Shopify Tokenized Stock (Ondo) is notably robust, underpinned by significant institutional support. Primarily, Pantera Capital stands out as a strategic partner through the Ondo Catalyst initiative, a $250 million commitment aimed at accelerating the development of on-chain capital markets. This partnership not only signifies institutional confidence in the potential of tokenized assets but also reinforces Ondo Finance's operational capabilities and market positioning. The funding pathways have included earlier rounds that amassed millions in seed funding and further structural investments, solidifying relationships with both venture capital firms and private investors. Moreover, the financial framework is complemented by strategic partnerships with established financial institutions and technology companies, enhancing Ondo’s infrastructure and operational expertise. How Does Shopify Tokenized Stock (Ondo), $SHOPON Work? At the core of $SHOPON's operational framework is a sophisticated system integrating traditional finance mechanisms with blockchain technology. The custody of actual Shopify shares ensures that token holders retain authentic economic exposure, safeguarding their investments in line with recognized legal structures. The smart contracts employed in managing $SHOPON handle various functions, including automatic dividend reinvestment and ownership transfer, offering instant settlement and increased liquidity, marking a significant departure from conventional trading systems plagued by multi-day settlement delays. By providing interoperability with other decentralized finance applications, $SHOPON empowers holders with potentially lucrative opportunities for advanced investment strategies, including lending and automated market making. This complex integration presents a unique value proposition, catering to both traditional and crypto-native investors. The innovative structure of $SHOPON also allows for real-time settlements and transactions documented on the blockchain, delivering unparalleled transparency and security—a major advancement over standard equity trading practices. Timeline of Shopify Tokenized Stock (Ondo) March 2021: Nathan Allman establishes Ondo Finance, initially focusing on decentralized finance yield optimization. August 2021: Completion of a $4 million seed funding round led by Pantera Capital. January 2023: Launch of initial tokenized treasury security products, laying the groundwork for future equity tokenization. July 2025: Announcement of the Ondo Catalyst initiative, a strategic investment program valued at $250 million, aimed at propelling the development of tokenization in capital markets. September 3, 2025: Launch of Ondo Global Markets featuring over 100 tokenized U.S. stocks and ETFs, including $SHOPON. Technical Implementation and Blockchain Infrastructure Shopify Tokenized Stock (Ondo) operates on a technical architectural framework that marries blockchain protocols with traditional financial custody arrangements. The ecosystem leverages Ethereum's smart contract capabilities, providing seamless transaction management while ensuring compliance with regulatory standards through established financial custodians. Central to this architecture are security measures and transparent transaction records that affirm the legitimacy of each tokenholder's economic stake. With automated features managed by intricate smart contracts, $SHOPON not only streamlines ownership transfers but also allows for the tactical reinvestment of dividends—a hallmark of modern investment strategies. Moreover, the incorporation of LayerZero technology facilitates cross-chain interoperability, making $SHOPON accessible across multiple blockchain environments while preserving its functional robustness. This forward-thinking technical design positions $SHOPON as an adaptable asset within the larger DeFi milieu. Regulatory Framework and Compliance Architecture $SHOPON's regulatory framework is built upon the meticulous navigation of existing financial regulations that govern securities. The custody arrangements for the underlying Shopify shares are managed by U.S.-regulated broker-dealers, ensuring compliance and protection for investors. By maintaining a separation between the blockchain tokenization process and traditional custody, $SHOPON adheres to legal requirements while offering innovative functionalities that challenge conventional constraints. This dual-layered compliance approach enhances investor confidence and underscores Ondo Finance's commitment to regulatory integrity. Notably, the availability of $SHOPON is tailored to international investors from regions such as Asia-Pacific, Europe, and Africa, as regulatory parameters in the U.S. and U.K. present challenges in accessing tokenized securities. Market Access and Global Distribution Strategy The distribution strategy of $SHOPON is keenly designed to optimize global access while conforming to regulatory standards. The platform aims to establish comprehensive coverage for eligible investors across multiple regions, effectively dismantling traditional barriers through the implementation of blockchain technology. Integration with various cryptocurrency wallets and exchanges also promotes user-friendliness and accessibility, establishing a streamlined experience for investors to manage their holdings. Moreover, the 24/7 trading capabilities afforded by the tokenized model allow participants to react promptly to market shifts, fundamentally transforming how global equities are accessed and traded. Technology Integration and Cross-Chain Functionality The remarkable technological underpinnings of $SHOPON propagate its multi-chain functionality, set to expand its reach beyond Ethereum to networks such as Solana and BNB Chain. Such cross-chain capabilities allow users flexibility when navigating between blockchains, concurrently leveraging distinct network attributes to optimize their trading experience. LayerZero serves as the backbone for ensuring decentralized transfers between networks while providing the requisite security and speed, quintessential for maintaining investor trust. This comprehensive interoperability illustrates $SHOPON's commitment to being a versatile, user-centric asset in the evolving investment landscape. Ecosystem Integration and DeFi Compatibility Incorporating $SHOPON into broader DeFi protocols signifies its potential beyond traditional stock ownership. Token holders can leverage their holdings for various sophisticated strategies and applications, enhancing investment returns and liquidity management. By establishing a presence in lending protocols and automated trading systems, $SHOPON effectively democratizes access to advanced financial strategies previously limited to institutional investors. Such integration contributes to a more competitive and dynamic financial landscape, where individual investors can capitalize on tools typically reserved for larger entities. Risk Management and Security Framework Security remains paramount in the operational infrastructure of $SHOPON. The tokenization framework employs multiple layers of protection—beginning with regulated custody of the underlying Shopify shares. The operational protocols establish rigorous auditing, key management, and transaction monitoring standards, thus safeguarding against potential vulnerabilities. Moreover, meticulous adherence to evolving regulatory requirements provides an extra layer of security, fortifying investor protections and institutional compliance. Market Impact and Industry Implications The introduction of Shopify Tokenized Stock (Ondo) heralds a transformative shift in how financial markets operate, emphasizing the potential of tokenized securities to reshape traditional investment paradigms. The successful integration of $SHOPON encapsulates the efficiencies inherent in blockchain technology and opens avenues for new user demographics previously barred from extensive market participation. The impact extends beyond the immediate benefits to token holders, indicating broader trends that may challenge the status quo of investment services, particularly in addressing geographic restrictions and operational costs typically associated with traditional brokerage platforms. Undeniably, $SHOPON encapsulates the potential for traditional institutions to innovate further, leveraging the increasing demand for seamless blockchain access to complement existing financial infrastructure. Future Development Roadmap and Strategic Vision As Ondo Finance looks forward, the trajectory of $SHOPON rests on ambitious goals aimed at broadening the spectrum of available tokenized assets significantly. Over the next few years, plans are in place to expand to more than 1,000 tokenized securities, further enhancing market participation and investment options for individuals worldwide. Continued integration with traditional financial actors, development of specialized institutional products, and enhancements in automated trading capabilities will ensure that $SHOPON maintains its position at the forefront of financial innovation. Regulatory collaboration will also remain a focal point, establishing a framework that not only supports the compliance requirements but also promotes a healthy environment for tokenized asset proliferation. Conclusion and Market Significance In summary, Shopify Tokenized Stock (Ondo), represented by the ticker $SHOPON, is more than merely a tokenized equity offering; it embodies the innovation possible when traditional finance collides with modern blockchain applications. With a robust technical architecture, a commitment to compliance, and a clear strategic vision, $SHOPON exemplifies the potential for tokenized assets to enhance liquidity, accessibility, and functionality in capital markets. As the global investment landscape evolves, the transformative implications of $SHOPON extend beyond individual investors to revolutionize how financial instruments are perceived, traded, and utilized within both traditional and decentralized frameworks.

2.6k Total ViewsPublished 2025.12.05Updated 2025.12.05

What is SHOPON

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