Memecoin (MEME)
Memecoin (MEME) is an ERC-20 memecoin crypto launched in August 2020 by Memeland, a web3 venture studio and crypto ecosystem developed by 9GAG, a popular meme-sharing platform. [1][2]
Overview
The MEME token is a community-driven project aiming to create a decentralized platform for creating and sharing. The platform allows users to create and trade memes using non-fungible tokens (NFTs). [1][4]
"MEME has no functions, utility, intrinsic value, promise, or expectation of any financial return, profit, interest, or dividend." - the whitepaper stated[2]
The MEME token holds utility within the Memeland ecosystem and allows users to participate in various activities and features. Memecoin is designed to facilitate interactions within a meme-centric community among owners of Memeland NFT collections. [1][6]
On October 23, 2023, the token sale[8] of Memeland (MEME) received commitments worth $10 million within 42 minutes of going live. Community members were previously able to complete various activities to enter a waitlist that allowed them access to the sale. [7][9]
In November 2023, OKX listed the MEME token on its perpetual market. With the perpetual listing, users can long and short MEME/USDT with up to 50x leverage. OKX also enabled margin trading and savings for MEME. [10]
On January 4, 2023, Binance Labs, the venture capital and incubation arm of Binance, announced it had invested an undisclosed amount in Memecoin (MEME). Before Binance Labs’ investment in MEME, the MEME crypto was featured as Binance Launchpool’s 39th project in October 2023. [11][12]
On January 9, 2023, Bitfinex, a crypto trading platform announced the listing of MEME. Henry Child, Head of Tokens at Bitfinex, expressed enthusiasm about the addition of Memecoin to their platform, emphasizing the strategic move to incorporate tokens that seamlessly integrate technological advancements with the dynamic culture of the internet. [13]
"It’s a step towards integrating more community-focused and innovative projects." - Henry Child, Head of Tokens at Bitfinex [13]
Tokenomics
The total supply of MEME is fixed at 69 billion and distributed into 7 main pools, each with different unlocking schedules. [3]
30% of the total supply was allocated to the Ecosystem to give back to the community, 25% to Airdrop which took place on November 3, 2023, 17% to Contributors, 12% to External Investors, 11% for Community Presale, 3% to the Advisory, and 2% to Binance Launchpool. [3][5]
