MEMES TOKEN

3 min readMar 30, 2021

BUSINESS CASE
At Memes Token we aim to build a community driven meme ecosystem with direct revenue to content creators and a community that will incentivize both creators and regular users.

We aim to be a community hub where people can find other interesting communities and projects to engage in.

PROBLEM STATEMENT

We have found that although there are many meme communities out there, none are currently operating in a decentralized way on the blockchain. Current communities primarily monetize creators work primarily through ads, and little to none of this income gets passed onto the creator.

PROPOSED SOLUTION

By leveraging the decentralized nature of the blockchain environment, we hope to establish a platform that will be revolutionary for content creators and users alike.

By operating in a decentralized environment and allowing creators and users to interact directly, Memes Token will provide direct compensation to creators and an ad free environment for users.

Creators will have a greater incentive to produce content, and users will have a greater incentive to use our platform by being in control of how a creator is financially supported through the memes token upvoting system.

LONG-TERM FOCUS

Even though the platform launched on Binance Smart Chain we plan to investigate other platforms in order to minimize transaction fees and maximize speed and stability.

Potential solutions include: Polkadot and Ethereum 2.0. We will be examining possible options to determine what would be the most beneficial to users.

TOKENOMICS

To ensure the viability of the project long term a small portion of each transaction goes into the longevity and stability of the project:

2% will automatically go into the locked liquidity pool, as Memes/BNB pair to ensure stable pricing
2% will be automatically redistributed to incentivize people to hold Memes Tokens.

We found these percentages to strike a solid balance between benefiting holders and allowing ease of trading without high fees.

Contrary to other tokens, there is no burn because we’re building a long-term ecosystem and we want to avoid reduction in liquidity and artificial increase of the value.

LIQUIDITY AND SECURITY

To ensure liquidity and security to the community the liquidity has been locked with dxsale and 30% of token supply is locked too until January with 10 releases along the way. Upon each release of the locked tokens, there will be a community vote to decide how the tokens will be distributed i.e. development and marketing budget, community promotions, going into the liquidity pool or returning it to the locked pool for later use.

Proof of locked liquidity: