As the crypto market looks for a breather after a relentless start to December, the meme coin space remains one of the sectors in the spotlight as its total market capitalization hovers above $23 billion. While Dogecoin, Bonk and Floki have shown remarkable resurgence over the past month, one new token likely to challenge them in the next few months is Memeinator (MMTR).
Notably, staking is now available as the presale accelerates to stage 8. Memeinator has raised over $1.8 million in less than 10 weeks into the offer.
Why is Memeinator (MMTR) such a buzz?
Memeinator is a new cryptocurrency project that eyes dominance within the meme coin sector. This is billed as a community-driven ecosystem that combines the popularity of meme coins with a unique value proposition.
According to the whitepaper, the total supply is capped at 1 billion tokens, and 62.5% of this is meant for the community. About 15% is targeted for marketing and CEX listings, 10% for development and 7.5% for the competition pool. The remaining 5% is earmarked for exchange liquidity provision.
As it aims to reach the $1 billion market capitalization, the Memeinator will leverage both its utility and AI power to bring inevitable judgement to weak meme tokens.
With staking, a play-to-earn (P2E) game offer and NFTs, the Memeinator is likely to challenge every other meme token. Only those offering real value to users and upholding the meme culture will survive the purge.
More than 21.5 million MMTR up for grabs
The Memeinator is also offering its community a chance to earn rewards while holding onto their tokens. As with the top proof-of-stake networks, holders will get a chance to stake tokens to contribute to a blockchain project’s security.
While Memeinator is yet to launch, this will be one of the key features of MMTR. The staking program opened as the team reduced the presale stages from 29 to 20 following community feedback.
Over 129 million MMTR tokens were burned, or permanently removed from circulation. This accounted for tokens in six of the 9 stages reduced, with one stage’s worth of MMTR allocated for the first staking pool. According to the team, 21.5 million MMTR will be used for future staking and marketing efforts.
Memeinator’s staking program is a chance to grab 45% rewards and the lockup or vesting period for first staking pool has been set to 180 days.
It means during this period, holders will not be able to transfer or withdraw their tokens. However, it’s a unique opportunity to add to a presale purchase by acquiring part of the over 21.5 million MMTR up for grabs ahead of Memeinator’s launch in 2024.
Apart from earning passive returns on their MMTR tokens, early backers also have a unique opportunity to be part of a Memeinator’s exclusive NFT project.
You can learn more about this meme project here.
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