MEME Token (MEME) is a combination of decentralized finance (Defi) and non-fungible token (NFT) on the Ethereum blockchain.
A non-Fungible Token (NFT) is a cryptographic token on the blockchain that represents a single asset with verifiable scarcity. They can act as proof of authenticity and represent ownership of digital assets. MEME allows users to stake tokens to farm limited edition NFTs.
project idea
MEME started as a meme. Jordan Lyall, the DeFi product leadership team at ConsenSys, whose Twitter post is Lyall, joked about an offering that could make it easy and fast to build a DeFi platform.
A Twitter user took this to heart and created MEME co. The birth of the meme dates back to 1976 when the word appeared in "The Selfish Gene", a book by Richard Dawkins. In the book, memes are described as ideas that spread rapidly from person to person in a community.
What is MEMES?
MEME is a decentralized project that connects the DeFi world with NFT through yield farming or liquidity mining. The network emphasizes that it does not offer coins for sale but allows farming. The system was launched on August 14, 8, and has since attracted a lot of attention from the crypto community.
Why is MEME so attractive?
The source of the project's rapid rise comes from Lyall's tweet, which drew 1,200 likes and many retweets within minutes. After its launch, it was listed on CoinGecko with a maximum limit of 28,000 tokens With Hokk Finance Meme Token.
Next up is an exclusive airdrop exclusive round on Telegram that takes place 30 minutes after launch. After its launch, the protocol's Telegram community grew to more than 3,000 participants. In the first few days, MEME reached a 24-hour trading volume of $1.2 million,…
About a month later, the token was trading at $795, had a one-day trading volume of $8.8 million, and a market capitalization of $18.7 million. Additionally, the coin has gone from rank #610 in early Sept 9 to rank #2020 on Sept 276, 18 based on market cap.
How to grow MEME?
Farming requires MEME participation and then acceptance of rare versions of NFTs. This increases liquidity mining opportunities for DeFi enthusiasts. In support of other DeFi farming yield systems, MEME farming is related to liquidity mining pools.
The NFT for Recovery was created by a select number of
artists. The first digital artist on the list is Sven Eberwein, a popular
artist based in Los Angeles.
Eberwein combines Internet culture with computer graphics. Sven “works on the Internet, through the Internet, for the Internet”.
Also Read: What is Hokk Finance
Corporate governance
Like other unsupervised financial systems, MEME handles governance issues through a decentralized autonomous organization called MemeDAO. To become a member, you must have a minimum of 100 MEME tokens. As of the end of August 08, $2.02 billion of the capital had been locked in the DAO.
conclusion
Like Doge and CoronaCoin, which started as a game but have
attracted interest from the crypto community.
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