Previously, Memeland garnered significant attention from the community by raising 10 million USD in less than an hour through the MEME token sale. Recently, Memeland has once again stirred the community’s excitement by becoming the 39th project on the Binance Launchpool. With these events, Memecoin – the native ecosystem token of Memeland, has sparked speculation about the beginning of another meme season.
While it remains uncertain if a new meme season is truly underway with Memecoin, let’s explore some details about this 39th launchpad event on Binance together, as reported by AZC News.
Binance Launchpad Introduces MEMEcoin as the 39th Project
On October 27th, Binance announced its 39th project on the Binance Launchpool, Memecoin (MEME), the native token of the Memeland ecosystem.
Users will have the opportunity to stake their BNB, TUSD, and FDUSD in separate pools to farm MEME tokens over a 30-day period, starting from 2023-10-28 00:00 (UTC).
Binance is scheduled to list MEME on 2023-11-03 08:00 (UTC) and allow trading with MEME/BTC, MEME/USDT, and MEME/BNB trading pairs. The Seed Tag will be applied to MEME.
Memecoin Launchpool Details
Token Name: Memecoin (MEME)
Total and Maximum Token Supply: 69,000,000,000 MEME
Launchpool Token Rewards: 1,380,000,000 MEME (2.00% of total token supply)
Initial Circulating Supply: 8,797,500,000 MEME (12.75% of total token supply)
Smart Contract Detail: 0xb131f4a55907b10d1f0a50d8ab8fa09ec342cd74
Staking Terms: KYC required
Hourly Hard Cap per User
153,333.33 MEME in BNB pool
19,166.67 MEME in TUSD pool
19,166.67 MEME in FDUSD pool
Supported Pools
Stake BNB (webpage will be available in around 4 hours): 1,104,000,000 MEME in rewards (80%)
Stake TUSD (webpage will be available in around 4 hours): 138,000,000 MEME in rewards (10%)
Stake FDUSD (webpage will be available in around 4 hours): 138,000,000 MEME in rewards (10%)
Farming Period: 2023-10-28 00:00 (UTC) to 2023-11-26 23:59 (UTC).
Following the Launchpool announcement, BNB’s price increased by 2.1%, reaching $225.81 USD (according to CoinGecko).
Memeland Project
Overview of the Memeland project
Memeland is an ambitious project that marks the first step of 9GAG into Web3 and the creation of Memecoin. 9GAG is widely known as one of the world’s largest media platforms dedicated to memes, boasting over 200 million global followers across its social media channels.
Notably, the CEO of 9GAG is personally overseeing the project and actively engaging with the community on platforms like Twitter and Discord.
Supporters and Advisors: Memeland is backed by some of the world’s top investors, including First Round Capital, True Ventures, Y Combinator, Gary Vee, Kevin Rose, Adrian Cheng, Naval Ravikant, Tim Ferriss, and more.
Information About MEMEcoin (MEME)
Memecoin Token Allocation
- Binance Launchpool: 2%
- Community: 11%
- Airdrop: 25%
- Ecosystem: 30%
- Advisory: 3%
- Investors: 12%
- Contributors: 17%
Utility of Memecoin
The Memeland development team has stated that $MEME does not have any intrinsic functionality, utility, or financial value, and it does not promise any profit, earnings, interest, or financial dividends.
There is no roadmap or any commitment that any ecosystem will be developed for $MEME. However, MEME has garnered significant community interest with over 2.1 million Twitter followers.
Conclusion
The Memeland project appears to bring something novel to the market, starting with the free MINT to gain the community’s trust and raising 10 trillion dollars in just 42 minutes during the Fire Sale Memecoin token sale. To date, its appeal within the cryptocurrency community is undeniable, as it becomes the 39th launchpad project on Binance.
Memeland is a promising project, and it’s worth keeping an eye on it.
Read more: A Guide to Farming and Receiving Airdrops of Memecoin from Memeland
