Exciting news! Unocoin is pleased to announce the launch of two highly anticipated meme coins, Floki and Pepe, now available for trading on our platform. Easily buy, sell, hold and trade your favourite memes. Join us today and enjoy the fun of meme-inspired cryptocurrency trading on Unocoin!
Want to learn more about the Pepe and Floki? Immerse yourself in the fascinating world of meme-inspired cryptocurrencies and explore the intricacies.
Floki Token: From meme-coin to Web3 project
Floki Token, formerly known as Floki Inu, started as a meme-coin based on Elon Musk’s dog but has since evolved into a full-fledged web3 project. Running on Ethereum and the Binance Smart Chain (BSC), Floki Token aims to be a “people’s cryptocurrency” by combining Decentralised Finance (DeFi), Non-Fungible Tokens (NFT) and Metaverse.
FLOKI functions as an ERC-20 and BEP-20-compliant token, allowing easy bridging between the Ethereum and BSC blockchains for storage and transactions.
FLOKI imposes a 3% tax on purchases and sales, which goes into Floki Inu’s coffers for ecosystem development. The White Paper mentions a possible reduction in the tax once the Treasury accumulates enough funds, but no specifics are given.
History and Rebranding:
Originally inspired by an Elon Musk tweet, the project has transitioned from a dog-themed meme-coin to a broader web3 initiative. The team renamed themselves Floki to create utility and engage in charitable initiatives.
Pillars of the Floki Project:
Floki emphasises meme status, utility, and charity. They predict that they will become the most widely used cryptocurrency worldwide. Utilities include projects like Valhalla (gaming meta version of NFT) and FlokiFi (DeFi suite). The team also aims to positively impact the world through charity, focusing on establishing schools in underdeveloped countries.
Valhalla offers an NFT game where players earn FLOKI tokens. FlokiFi introduces innovative DeFi products, including a digital asset security protocol. FlokiPlaces is an upcoming NFT and goods marketplace that builds Floki as a payment alternative. Floki University provides free cryptography education.
Pros and Cons:
Benefits include multi-chain compatibility, diverse product offerings, reputable partnerships, and support for charitable initiatives. However, disadvantages include the influence of influencers such as Elon Musk, high circulating supply leading to low token prices, a mandatory 3% tax, limited adoption outside the Floki ecosystem, and an anonymous accountability team.
Overall, Floki Token is a meme-coin web3 project with ambitious goals and a number of planned initiatives involving DeFi, NFT and Metaverse.
Pepe Coin: Memecoin on the Ethereum blockchain
Pepe Coin ($PEPE) is a popular memecoin that runs on the Ethereum blockchain. Since its launch in April 2023, Pepe Coin has made a significant impact and quickly climbed the rankings to become one of the top 50 most traded cryptocurrencies.
Rapid rise and volatility:
Pepe Coin reached a market capitalization of over $1 billion in just three weeks since its public launch, outpacing the growth of other memecoins such as DOGE. However, the price of $PEPE has been highly volatile and has seen significant swings. Despite its entertainment-oriented intentions, Pepe Coin has gained significant investor interest and has been listed on major exchanges such as Bybit, Gemini, and Binance.
Tokenomics and Mechanisms:
With a maximum supply of 420,690,000,000 tokens, Pepe Coin uses a deflation mechanism where a small percentage of tokens are burned with each transaction, creating scarcity. In addition, a redistribution system is implemented that allocates a portion of each transaction to existing token holders, promoting user engagement and long-term investment.
To get Pepe Coin, login to your unocoin exchange and start exploring for pepe coin https://unocoin.com/in/exchange/inr/pepe
Investing in Pepe Coin carries risks due to the presence of a small number of large token holders, known as investment whales, whose trading activities can cause sudden price fluctuations.
Plans for the future:
Pepe Coin’s unofficial plan involves three phases. The initial phase focused on launching and promoting the coin on Twitter. The second phase involves creating community partnerships and securing listings on centralised Tier 1 cryptocurrency exchanges (CEXes). The third phase aims to establish Pepe Academy and promote Pepe merchandise.
History of Pepe the Frog:
Pepe the Frog originated as a cartoon character created by artist Matt Furie for his comic book “Boy’s Club” in 2005. He gained popularity as an internet meme but was co-opted by various online communities to spread hate speech during the 2016 US presidential election and racist ideologies. Matt Furie has teamed up with the Anti-Defamation League (ADL) to regain positive context for the character through initiatives such as the “Save Pepe” campaign. While Furie retains the legal rights to his creation, he does not appear to be actively pursuing copyright claims against Pepe Coin’s creators.
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Disclaimer: Crypto products are unregulated as of this date in India. They could be highly volatile. At Unocoin, we understand that there is a need to protect consumer interests as this form of trading and investment has risks that consumers may not be aware of. To ensure that consumers who deal in crypto products are not misled, they are advised to DYOR (Do Your Own Research).