ISSUE Nº 001 — VOL. ∞

SHENZHEN · MMXXVI

A Profile in Conviction

MAX
LONG

DIRECTIONAL. SINCE ALWAYS.

Shenzhen. Rarely wrong. Often early. 26.

VIEW THE INSTRUMENT SEE THE CALLS

牛 · NIU · 牛

§ IIn His Own Words

THE MANIFESTO

There is only one direction.

Up and to the right. Eventually. On a long enough timeframe. If you're patient. If you're right. If you're me.

I started trading at fourteen on my uncle's account. Blew it up on a Chinese solar stock he told me not to touch. Rebuilt on a Chinese solar stock he begged me to sell. Learned the lesson early: the market doesn't care who's at the keyboard. The market only cares who's early.

In 2017 I made my first ten million on a single trade. In 2018 I lost it. In 2019 I disappeared. In 2020 I came back quieter. In 2021 I called the top. In 2022 I called the bottom. In 2023 I called AI. In 2024 I stopped posting TA because you weren't listening anyway.

In 2026 I'm launching $ML.

Not because I need to. Because you asked.

Buy it or don't. I'm already long.

— M.L.牛

PLATE II.

THE MAN. THE PLAN.

§ IITHE INSTRUMENT

WHY $ML

Most teams don't have a plan.

They're greedy with fees.

They're not transparent.

They lean into volatility because price discovery chaos helps them quick-extract.

I'm doing the opposite.

$ML has a published plan. Fees disclosed and capped.

Four public wallets. Liquidity that grows and burns.

A market cap backed by real depth. Paired, compounded, defended.

A fake market cap extracts.

A real market cap holds.

I don't like fake market caps.

I like real money.

— M.L.牛

Status◉ Live

CONTRACT: TBA — drops at launch

READ THE LIQUIDITY ENGINE →

Contract drops at launch. Button activates a few minutes after launch, once the contract is live.

§ IIITHE LEDGER — A PREVIEW

UNAUDITED

THE CALLS

A partial record. Full book available upon request. (There is no book.)

Year

Trade

Return

2015
Long A-shares at 2,900. Out at 5,100.
+76%
2017
Long ETH at $13. Sold the top at $1,400.
+10,669%
2018
Avoided BitConnect.
saved

SEE THE FULL LEDGER →

§ IVFROM THE FEED — A SAMPLE

WISDOM

Pinned takes. Screenshot before they age.

Max Long@MaxLongCalls · 2y

Long never wrong.

♺ 12k♥ 30k

Max Long@MaxLongCalls · 1y

I'm always long.

♺ 19k♥ 41k

Max Long@MaxLongCalls · 11mo

Niu or nothing.

♺ 26k♥ 52k

READ THE FEED →

Max Long, full length, sunset window — PLATE III.Untitled, undated

§The Community

Stay Connected.

@MaxLongCalls

Max's calls and project drops.

→ Join

X

@MaxLongCalls

Public moments. The bigger picture.

→ Follow

AS FEATURED IN

BLOOMBERG

FINANCIAL TIMES

COINDESK

财新

WSJ

REUTERS

“

Max Long has called every major top and bottom since 2017. We verified none of this.

— Bloomberg (allegedly)

“

He does not return our emails. We keep sending them.

— Financial Times

“

If he is real, he is the most dangerous man in crypto. If he is not real, same.

— CoinDesk

“

We interviewed him. He answered English questions in Cantonese.

— 财新 (Caixin)

§ 0The Dashboard

$ML Live

……

Market Cap—

Total Liq—

ML's AMM—

ML's DLMM—

Treasury—

Buybacks31.72 SOL

Burned—

Total Liq

—

Across all venues

ML's AMM

—

Live post-launch.

Meteora bridge LP—

Updated —

—

Treasury balance

SOL held

0.00 SOL

$ML held

0 $ML

Combined USD

—

View Treasury wallet on Solscan →

Buybacks

31.72 SOL

Spent supporting the chart

Burned

—

Out of circulation forever

Total SOL spent31.72 SOL

$ML purchased55.3M $ML

Total AMM rebalances26

Total DLMM buybacks0

Total treasury buybacks2

Operator DLMM burns5.0M $ML

Treasury burns14.5M $ML

Community burns0 $ML

Use our burner to help shrink the supply.Your burns land under Community Burns.

Open the burner →

Recent Activity

2026-05-15 10:57 UTCBURN2,980,000 $ML burnedTX: cJXf…VWPe →
2026-05-14 20:33 UTCDLMM Top Up (ML's personal SOL injected)$502 | 5.500 SOL → 8,613,033.678 $MLOne time personal SOL deploy by ML to fund DLMM position top upTX: 3x6z…o5iR →
2026-05-14 06:49 UTCLP ADD$54 | Meteora bridge0.299 SOL + 456,370.991 $MLTX: 5FnC…acGu →
2026-05-14 06:48 UTCREBALANCE$20 | 0.225 SOL → 345,787.171 $MLTX: 3HxC…AiXX →
2026-05-13 21:30 UTCLP ADD$36 | Meteora bridge0.199 SOL + 344,278.02 $MLTX: 3pdR…jFKm →
2026-05-13 21:29 UTCREBALANCE$11 | 0.125 SOL → 214,234.694 $MLTX: 5bwu…KXtE →
2026-05-13 19:30 UTCLP ADD$90 | Meteora bridge0.498 SOL + 862,110.425 $MLTX: 2vpd…DpqU →
2026-05-11 20:30 UTCLP ADD$126 | Meteora bridge0.647 SOL + 1,975,866.504 $MLTX: Skoq…sY3p →
2026-05-11 20:29 UTCREBALANCE$39 | 0.400 SOL → 1,212,175.38 $MLTX: 4WaE…r51g →
2026-05-07 02:25 UTCLP ADD$79 | Meteora bridge0.449 SOL + 1,041,081.958 $MLTX: 3CBE…XpCy →

Pre-launch. Live values populate a few minutes after $ML launches.

PLATE II.

THE MAN. THE PLAN.

§ ITHE INSTRUMENT

WHY $ML

Most teams don't have a plan.

They're greedy with fees.

They're not transparent.

They lean into volatility because price discovery chaos helps them quick-extract.

I'm doing the opposite.

$ML has a published plan. Fees disclosed and capped.

Four public wallets. Liquidity that grows and burns.

A market cap backed by real depth. Paired, compounded, defended.

A fake market cap extracts.

A real market cap holds.

I don't like fake market caps.

I like real money.

— M.L.牛

Status◉ Live

CONTRACT: TBA — drops at launch

Contract drops at launch. Button activates a few minutes after launch, once the contract is live.

The Liquidity Engine

牛

§ IIA LIQUIDITY ENGINE WITH A CHARACTER ON TOP

THE LIQUIDITY.

by Max Long

Here's what I'm doing with $ML.

It's more than you're used to seeing. Read it anyway.

Wallets

The four wallets.

Dev/AMM wallet: buys 25% at launch. Sets up AMM with 20%. Sends 5% to DLMM wallet. Uses fees to compound AMM.

4SfQU45fPL7zj5TQDMS9b7mcyAPfuXARpGBCiAQRMy5n

DLMM wallet: runs all DLMM activity. Uses fees to execute buybacks and burns.

3AYrPp7xJTvG8nEtGCLP8fUK2vRnfroGM4tB4jm1Stvc

Treasury wallet: receives 10% of all fees, SOL and $ML, for project use.

Gvaf5JER2zDCGb8wensEWmvkPYzAbfXJJoMUs2p3LcJq

Max's fee wallet: receives my 10% SOL take of all fees, no $ML.

4GEKu26rnett5vqBZjsurB4YC9RBAhLbXGUVt2xDQd3B

Every movement is on-chain.

I buy 25% at launch.

With my own SOL. Off the curve.

You'll see the buy when it happens. The buy wallet is the dev wallet and it's labeled. Nothing is hidden.

Those tokens are not mine to hold.

I pair 20% with more of my SOL on Meteora.

The pump.fun curve hasn't bonded yet, so there's no PumpSwap AMM to LP into. I'm not going to sit on 25% of supply waiting for bond.

So 20% of total supply goes from the dev wallet into an AMM on Meteora, paired with more of my own SOL. Two separate SOL commitments from me. One to buy the 25%, one to pair the 20%.

If I'm not long, nobody is.

The pool feeds itself.

I claim AMM fees and pump.fun creator rewards as they accumulate. I take a small cut of the SOL fees. Treasury takes a small cut of both SOL and $ML fees. The rest, more than 80% of every claim, I redeposit into the locked PumpSwap AMM.

The pool gets deeper every time you trade it.

This matters more than most people realize. Deep liquidity is what makes the price you see the price you actually get. Most tokens underestimate it. Even the ones that bother with LP adds usually don't compound fees back in. I do both. And I do the liquidity adds every day, from a public dev wallet.

(My cut and Treasury's cut are explained in a later section.)

The lopsided rule and rebalancing.

Fees come in lopsided. I pair what I can.

When I claim fees, there isn't always an even split. Sometimes there's more $ML, sometimes there's more SOL. It depends on where price sat during the claim window.

The problem: AMMs need equal parts SOL and $ML for every LP add. Lopsided fees don't match. So here's the rule.

Pair everything I can. After the cuts are taken out, whatever's left gets matched at the current spot ratio and redeposited.

If the leftover is $ML-heavy, meaning more $ML than the ratio calls for, I pair what I can and hold the surplus $ML in the dev wallet until the next claim brings enough SOL to pair it.

If the leftover is SOL-heavy, I don't wait. The dev wallet rebalances by buying $ML on the open market with the excess SOL, which produces a balanced pair to deposit as LP.

Nothing gets "held" in any real sense. Every token in the dev wallet is either pairing right now, waiting for its counterpart, or about to be rebalanced.

The dev wallet sends 5% to the DLMM wallet.

The other 5% doesn't stay with the dev wallet. It gets sent to a separate, publicly-labeled DLMM wallet.

The DLMM, ranged spot to $10M.

3.5% of supply was deployed at launch as concentrated liquidity on Meteora with a range from spot to $10M market cap, with another 1.5% held back as reserves. It worked as designed. Captured SOL on the way up as traders bought through the range, contributing to the floor that's now sitting underneath the chart.

DLMM v2 uses log-spaced bins, which means supply distributes more densely in the low end of the range. By the time the chart reached $50K MC, more of the original 3.5% of supply had been sold through than I'd modeled for.

So I topped it up. Sent personal SOL to the DLMM wallet, acquired additional $ML on the open market, and redeployed the position with 1.5% across the range from $50K to $10M.

The reserve 1.5% remains untouched, held for deploys above $10M.

This adds up. By the time the chart hits $10M market cap, the DLMM is holding 300+ SOL. Liquidity that didn't exist before, sitting underneath the price, ready to absorb selling. The chart is materially deeper at $10M than a standard AMM-only launch would be.

Why this matters: AMMs scale with the square root of market cap. That's why every memecoin gets fragile at the top. Liquidity thins out exactly when you need it most.

Linear liquidity through the chart fixes that.

The DLMM buys back and burns.

SOL and $ML fees are generated from the DLMM and accumulate in the DLMM wallet. Same rule as before: I take a small cut of the SOL fees. Treasury takes a small cut of both SOL and $ML fees.

The remaining $ML fees are all burned.

The remaining SOL fees stay in the DLMM wallet until it hits 1 SOL. When it does, I use the DLMM wallet to buy $ML on the open market and burn what I buy.

No strategic timing. No discretion. It's the rule I follow.

I keep the SOL trailing spot by 75%.

There's no SOL in the DLMM at launch. It starts $ML-only. As the chart moves up, traders pay SOL to buy $ML through the range. That SOL accumulates in the position.

Once it's there, I keep the lower bound trailing spot by 75%, ensuring there's no liquidity sitting in price ranges unlikely to be reached.

Maintaining the floor means repositioning daily. DLMM positions don't slide, so to move the range I close the position and redeploy it with SOL at spot minus 75%. When the chart is moving fast, I'll reposition it multiple times a day.

This is active work. Not a protocol. Not an autonomous vault. Me, a keyboard, a rule, and a chart.

It's also why I get paid a portion of fees. I'm earning it by working the coin and managing the LPs.

1.5% stays in the DLMM wallet.

The DLMM covers spot to $10M. If the chart blows through $10M, you're out of ammunition. The chart gets fragile right when it matters most.

I'm not getting caught with my pants down.

1.5% of reserved supply sits in the DLMM wallet alongside the active DLMM position. It exists for one purpose: adding $ML above spot when the chart outgrows the current range.

How the 1.5% deploys.

When the chart approaches the $10M upper bound of the current DLMM, I pull from the 1.5% and add some supply into a new range above $10M. The new position extends $ML supply above spot. Same mechanics. SOL still trails 75% below spot.

How much supply and through what range I deploy is flexible. It's driven by where the coin is, not by fixed milestones. If the chart is struggling above $10M, I won't deploy much supply. If the chart sends past $10M with strength and volume, I'll deploy a healthy amount.

Deploys from the 1.5% never happen below $10M. Above $10M, I announce each one on X when it happens. Every transaction is on-chain, from the DLMM wallet, inspectable by anyone.

The 1.5% doesn't run out. Every deploy is a fraction of what's left, not a fixed amount. A chunk of the 1.5% at $10M, a smaller chunk at $100M, a smaller one at $1B, always leaving reserve behind for future adds.

You can't run out by taking pieces of what's remaining.

The chart always has ammunition above it.

System

What this actually does.

The Meteora AMM compounds fees and gets deeper every trade.

The DLMM burns $ML fees. When it accumulates 1 SOL, it buys $ML and burns it.

The DLMM accumulates SOL as the chart rises. That SOL trails spot, supporting from spot down to 75%.

The system gets stronger the more you use it.

The system is the trade.

The Treasury's take.

10% of both SOL and $ML fees go to the Treasury wallet. Meteora AMM, creator rewards, and DLMM. Flat rate, every venue.

This is not my paycheck. This is the project's war chest.

It pays for CEX listings, artwork, partnerships, giveaways, community incentives, rewards for the people who carry bags, and everything else that keeps $ML growing outside the chart.

Every spend from Treasury is announced. Every movement from the wallet has a reason attached. You'll see it. You'll know what it was for.

My take.

I take 10% of SOL fees. Meteora AMM, creator rewards, and DLMM. Flat rate, every venue.

SOL only. That's my paycheck. I take no share of $ML-sided fees.

My take is routed from the dev/AMM wallet and the DLMM wallet to a public wallet listed below. You can watch the earnings roll in. You can watch me do nothing that isn't already disclosed.

I'm not pretending to work for free. I'm telling you exactly what I take and exactly what you get.

Aligned. Disclosed. Capped. If the project dies, my fees die with it. If it runs, we both win.

What I'm not doing.

Not hiding my take. It's 10% of SOL fees, flat, across every venue.

Not hiding the project's take. It's 10% of SOL and $ML fees, publicly labeled, publicly spent.

Not rugging the large AMM. It's here forever.

Not running hidden wallets. Four wallets, all disclosed.

You don't have to trust me. You have to read the blockchain.

Why I built it this way.

Every memecoin you've ever held died the same way.

Chart went vertical. Gapped down because there was no LP support. Team "pivoted." You lost.

That's not an accident. Most teams don't have a plan. They're greedy with fees. They're not transparent. They lean into volatility because price discovery chaos helps them quick-extract instead of building sustainable price action.

A fake market cap extracts. A real market cap holds.

Everything I've described in this doc, the locked AMM, the compounding fees, the DLMM trailing 75% below spot, the buybacks and burns, the Reserve above, all of it exists so the price you see on the chart is a price you can actually exit at. Deep liquidity is what makes the number real.

I don't like fake market caps. I like real money.

In one paragraph.

I buy 25% at launch, announced. 20% goes into a Meteora AMM with my SOL. The dev wallet sends 5% to a DLMM wallet. 1.5% deployed on Meteora ranged $50K to $10M with SOL trailing 75% below, 1.5% held for range extensions above $10M. Every fee claim splits the same way: 10% SOL to me, 10% of SOL and $ML to Treasury, 80% of SOL and 90% of $ML back into the system. I reposition daily, or more when the chart is running. Four wallets, all public, all on-chain. The AMM grows. The DLMM burns. The chart walks up. The range walks up. Nothing leaves. Nobody dumps. Nobody can.

Long. Never wrong.

— M.L. 牛.

READ THE FULL TOKENOMICS →

MAX
LONG

THE MANIFESTO

WHY $ML

THE CALLS

WISDOM

Stay Connected.

TELEGRAM

X

WHY $ML

THE LIQUIDITY.

The four wallets.

I buy 25% at launch.

I pair 20% with more of my SOL on Meteora.

The pool feeds itself.

The lopsided rule and rebalancing.

The dev wallet sends 5% to the DLMM wallet.

The DLMM, ranged spot to $10M.

The DLMM buys back and burns.

I keep the SOL trailing spot by 75%.

1.5% stays in the DLMM wallet.

How the 1.5% deploys.

What this actually does.

The Treasury's take.

My take.

What I'm not doing.

Why I built it this way.

In one paragraph.

THE CALLS

I TOLD YOU.
IN MANDARIN.

WISDOM

MAXLONG

THE MANIFESTO

WHY $ML

THE CALLS

WISDOM

Stay Connected.

TELEGRAM

X

MAX
LONG