Degenerator Meme

Degenerator Meme

Degenerator Meme MEME Rank #1164

Tutorial Degenerator Meme (MEME) Token - What it is, price and yields

Degenerator Meme Exchanges

Exchange Market Pairs Buy
Poloniex BTC/USDT -
Uniswap (V2) GAME/WETH -
CoinEx NMC/USDT -
Hoo MIM/USDT -
Honeyswap GNO/wxDai -
ShibaSwap SNX/WETH -
Hotbit PPC/USDT -
What is Meme (MEME)? MEME is the native token of the unique NFT digital art platform DontBuyMEME. The platform hosts digital artists from around the world and offers its community the ability to mint NFTs by staking their MEME tokens. In exchange for staking, users earn redemption credits known as pineapples which are used to mint the NFT of their choice. MEME can also be used to bid on art auctions through the platform. About DontBuyMEMED DontBuyMEME started as a community-driven grassroots project that grew rapidly in popularity at the end of DeFi Summer '20. MEME has been the catalyst for a renaissance in digital art, largely due to the enthusiastic community that has formed around the project, educating participants about the crypto space in NFTs. The project continues to thrive today by selecting world-class artists and cultivating rising stars on the platform every week. Who are the founders of Meme? The indirect creator of MEME is Jordan Lyall, Product Lead for DeFi at Consensys. Lyall created what he called Degenerator, a playful tool to launch new DeFi projects in minutes. After posting his work, in which he mocked the ease with which DeFi tokens accumulate value based on often dubious premises, Degenerator himself came across another developer's token. Since its launch in mid-August, MEME has grown to peaks of $1,700 per token. Lyall himself publicly warned potential investors through the media not to buy the coin, as his status was a joke and there was no underlying value proposition. What makes the meme unique? Perhaps the most recognizable unique feature of MEME is its lack of utility: it exists solely to allow investors to conduct classic DeFi trades, and there is no project behind it that gives it innate value. However, as with any meme, its popularity went viral and engagement only increased. Intrinsic value, as such, is not a true investor consideration. The appeal of such a satirical project is likely to increase for DeFi investors who are used to earning passive income from tokens through yield farming and cash mining, regardless of what the tokens are used for. its creator relies on anything other than its own existence, and could disintegrate at any time based solely on the whims of merchants. Related Pages: Learn more about Useless Ethereum Token here. Find out everything you need to know with Alexandria, CoinMarketCap's dedicated educational resource. How many Meme Coins (MEME) are there in circulation? MEME has a fixed supply of 28,000 tokens, all in circulation. This small supply is what contributed to its relatively high market cap and token price, which peaked at $47.6 million and $1,700 respectively in September 2020. Little information is available about the future or plans of the token. , but given their status, they are also likely to be secondary considerations for all parties involved. Meanwhile, assets other than financial ones include earning collectible MEME cards for token holders, theoretically unique as part of MEME's status as a non-fungible token (NFT). How is the Meme Network secured? MEME presents the same basic risks to transacting parties as any smart contract-based platform. Freezing funds in smart contracts, particularly when a project is not audited, carries an inherent risk of loss or theft. For the most part, though, security isn't as big of a risk as the very nature of the MEME, as it lacks a real-world use case beyond satire. Uniswap's Automated Market Maker (AMM) Wrapped Ether (WETH) pair. Other locations include AMM Balancer, as well as traditional exchanges like Poloniex and Hotbit. Interested in learning how to buy Bitcoin (BTC) or any other cryptocurrency? Get all the details here.