Mid-Day Mumbai News: How reflective tokens and real-world use cases can work together

Mid-Day Mumbai News: How reflective tokens and real-world use cases can work together

Mumbai`s homegrown newspaper – Mid-Day is a 41-year-old brand. Thank you for listening to my inputs.

The media outlet has quoted my points on how reflective tokens and real-world use cases can work together. Taking Dogecola as an example. The Cola sold will be used as a form of funds to support its crypto pricing. The added-on elements such as GameFI and NFT would create a better bond and interaction between the brand and the consumers.

The combination may not be rocket science but they are certainly making traditional companies think about how tokenization would work for their business.

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Why DogeCola Is the Reflective Token To Watch

Following news that the ‘king’ of meme coins Dogecoin has relaunched its foundation with plans to become a serious global cryptocurrency, is DogeCola ‘on trend’ as a  meme coin worth taking seriously? Meme coins are tokens backed by crypto influencers and investors have rapidly increased in popularity. CoinMarketCap estimated there were more than 5,000 meme coins available to investors by late June. Created as a joke meme back in 2013 Dogecoin started the trend, rising to prominence after Tesla CEO Elon Musk tweeted about the novel token in April 2019, replying to a tweet saying “Dogecoin might be my fav cryptocurrency. It’s pretty cool.”

While meme coins are a type of cryptocurrency, a key difference between the likes of Dogecoin and currencies like Bitcoin, comes down to utility. Namely that most meme coins, serve no real-world purpose. Even more reason why DogeCola, which is both a reflective token and a soft drink brand, has such potential to grow the meme coin market more sustainably in the future. In just the past week the cola-branded meme token, has delivered on its promise of distributing 1,000 sample cans of the fizzy drink to its token holders. And as its doubling-down on its listing on BigONE exchange with a staking activity, it’s certainly appears worth a closer look.

In this article we’ll therefore review how the ‘reflective’ token mechanism works to maintain price stability, the role the DogeCola soft drink brand plays in its growth, and what this could mean for the chances of success in such a fast-moving meme-market place.

 

Taking a look ‘under the hood’ of DogeCola

Auto-boost function: The auto-boost feature helps distinguishes DogeCola from the other standard meme tokens on the market. The DogeCola project’s developers added this feature to prevent the all too common ‘pump and dump’ associated with meme tokens. It was designed to make variable repurchasing and token burns based on the transaction volume every 24 hours. The goal is to keep the price of DogeCola high by burning tokens and reducing supply every time a sale is made with the tokens.

Reflection mechanism: The reflection mechanism means the tokens are self-generating and aim to discourage selling by promoting a ‘hold and earn’ use culture. By implementing a reflective mechanism in the token’s smart contract, all transactions involving tokens are ‘taxed’, and rewards are distributed evenly among holders. The DogeCola team does this to encourage the holding their tokens, and the commission on sales is much higher to prevent whales from dumping and driving the price down

Both the auto-boost and reflection mechanism are underpinned by a buy and sell fee structure: on buying 6% is set aside for the auto-boost function, with 2% going reflection to holders and 4% of marketing. While on sales, 7% is for auto-boost function, 7% for reflection to holders and again, 4% allocated to marketing.

Branded cola drink: The DogeCola team has begun the process of bringing their soft drink brand to the market as soon as possible. In a recent interview the DogeCola project’s lead developer, Chris, confirmed that the primary goal is to have the soft drinks readily available for purchase in stores, within the next three to six months. In the meantime, DogeCola token holders this week snapped up the first 1,000 samples. As Jason McLeod of the community-based #stopelon crypto initiative, commented on Twitter: “I definitely think this is the way crypto will go in the future. For me, it’s all about that link from crypto to ‘everyday’ people in the ‘real’ world.” The DogeCola team also plans to fight plastic pollution caused by corporations like Coca Cola, using a community-led vote to determine which eco-charities to support – enhancing their ‘disruptive’ branding in the process.

 

What the crypto experts think of DogeCola?

At the launch of DogeCola in July, Chris the lead dev and founder proclaimed: “If you like Coca Cola, if you like Dogecoin, then you will love DogeCola.”  While the meme coin has risen in price by 556.1% from listing on CoinGecko to its all-time high, with the current price 500% from the listing price, its already has some push back from within its 10K strong international Telegram community. “Please know that you are in a project with a team that many times literally does not sleep in 72 hours; please do not look at x minutes candles in DogeCola; try to be patient, intelligent, trust the process and stick to your guts and vision,” said @Freejo1 in response to such jitters.

Jason Suttie, CMO of Bumper, a new protocol designed to protect the value of your crypto says: “What I find most exciting about projects like DogeCola is the visibility it’s bringing to the crypto space from the general public. Everybody knows Cola, many non-crypto people have now heard about Dogecoin. DogeCola creates a connection between a physical and virtual object which starts to make crypto less scary for the uninitiated. It’s through clever projects like this that crypto will make big steps toward mass adoption.”

Chairman of BigONE, Anndy Lian, says he believes that DogeCola being based on a reflective token mechanism and with a real-world use has a clear advantage in the crypto marketplace: “We are excited to list DogeCola on the BigONE exchange because it’s ticked all the boxes – a smart reflective token mechanism, branded cola drink, a great development team with passionate community behind it.” Certainly, this is supported by news that the team has succeeded in reaching 20k token holders just a couple of days after their CoinMarketCap airdrop on August 27th. And with a DogeCola sponsored NSCAR driver due to be announced shortly to further promote growth, this reflective token is surely one to watch out for.

Source: https://www.mid-day.com/lifestyle/infotainment/article/why-dogecola-is-the-reflective-token-to-watch-23191206

Anndy Lian is an early blockchain adopter and experienced serial entrepreneur who is known for his work in the government sector. He is a best selling book author “Blockchain Revolution 2030”. Currently, he is appointed as Chairman, Asia for BigONE Exchange and Chief Digital Advisor, Mongolia Productivity Organisation. Anndy is part of the Gyeongsangbuk-do Blockchain Special Committee, Government of Republic Korea, together with industry experts such as Brock Pierce. Lian played a pivotal role as the Blockchain Advisor for Asian Productivity Organisation (APO), an intergovernmental organization committed to improving productivity in the Asia-Pacific region and was previously the Advisory Board Member of Hyundai DAC Technology.

An avid supporter of incubating start-ups, Anndy has also been a private investor for the past eight years. With a growth investment mindset, Anndy strategically demonstrates this in the companies he chooses to be involved with. He believes that what he is doing through blockchain technology currently will revolutionise and redefine traditional businesses. He also believes that the blockchain industry has to be “redecentralised”.

You can read more about Anndy’s work at www.anndy.com

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All Cake, No-Bake: BabyCake’s Rise in the World of Digital Currencies

All Cake, No-Bake: BabyCake’s Rise in the World of Digital Currencies

BabyCake proudly stands as the world’s first CAKE reflection token. Users receive CAKE in their crypto wallets just for holding the $BABYCAKE native token. 

Best of all – there’s no stress about manually claiming CAKE. Tokens are automatically sent to wallets thanks to BabyCake’s Protocol. BabyCake’s unique classic redistribution scheme is based on contract percentage, current token balance, and the number of holders. 

Our Mission: To Revolutionize DeFi

Just head on over to PancakeSwap to buy $BABYCAKE (users need at least 200,000 tokens to receive distributed CAKE) and check out the BabyCake dashboard to see your daily rewards.

BabyCake features a static reward system representing the next evolution of Binance Smart Chain (BSC) yield-generating contracts. 15% of each transaction splits as follows – 7% CAKE goes right back to holders. 5% is allocated for marketing efforts. The final 3% becomes liquidity for PancakeSwap.

Whales are warned, BabyCake has added an extra 1% fee to all sales to reduce swing trading and monopolization.

Under The Hood

The BabyCake team has taken several steps to ensure optimal security. There’s a 12-month lock on initial liquidity, so holders can rest assured they can trade. DXLock, a cross-chain decentralized token and liquidity provider locker for Ethereum and BSC, is here to help as a middleman.

BabyCake’s contract is also audited and certified by ​​CertiK, a leading blockchain security firm. Founded by Yale and Columbia University professors in 2018, CertiK has worked with hundreds of clients. A CertiK certification is considered the gold standard of contract security.

Still not convinced? Well, BabyCake has also invested in a contract audit from TechRate, a blockchain security consulting firm. They’ve audited 100’s of smart contracts since 2017, saving more than $300 million in investor funds. TechRate worked with BabyCake to ensure the contract had no vulnerabilities to severe issues or hacks.

Anndy Lian was added to the Baby Cake advisory team in August to provide further advice and expertise. He leads the Mongolian Productivity Organization and is the author of the best selling book Blockchain Revolution 2030.

Tasty Morsels For Baby Cake Holders

BabyCake has got a lot coming down the pipeline for its community.

First, BabyCakeSwap makes its grand debut in September.

The company is a Platinum Sponsor of the Dubai Crypto Expo. Monk will be speaking there as well as at the Global DeFi Investment Summit a few days earlier.

Down the line, BabyCake is looking to open up a BabyCake merch shop and an NFT platform. Not to mention, 5% of every transaction is allocated towards its marketing budget, which means BabyCake has plenty of firepowers to push its ambitious projects forward.

BabyCake has also announced its ‘Diamond Hands Sunday‘ and ‘Buy Back Monday’ initiatives. On Buyback Sundays, Rewards increase to 12% – that’s a 5% increase! (24 hours UTC). On Buyback Mondays, BabyCake tokens are purchased with the Rewards earned by the 1 billion tokens released from the Team Wallet. Consider it like a Whale wallet that will never sell and reinvests all its Rewards every week!

We are All About Our Community

Ready to learn more about the first CAKE reflection token?

It’s all about the community at BabyCake.

Follow BabyCake on Twitter to keep up with the latest news.

Chat with our team members on Telegram.

Discuss everything BabyCake inside our Reddit community.

Check in on the BabyCake website to see what’s new.

Get all the details on vision, strategy, and our Roadmap in our whitepaper.

Here’s to earning $CAKE and keeping things light and fluffy!

Source: https://btcmanager.com/all-cake-no-bake-babycake-digital-currencies/

Anndy Lian is an early blockchain adopter and experienced serial entrepreneur who is known for his work in the government sector. He is a best selling book author “Blockchain Revolution 2030”. Currently, he is appointed as Chairman, Asia for BigONE Exchange and Chief Digital Advisor, Mongolia Productivity Organisation. Anndy is part of the Gyeongsangbuk-do Blockchain Special Committee, Government of Republic Korea, together with industry experts such as Brock Pierce. Lian played a pivotal role as the Blockchain Advisor for Asian Productivity Organisation (APO), an intergovernmental organization committed to improving productivity in the Asia-Pacific region and was previously the Advisory Board Member of Hyundai DAC Technology.

An avid supporter of incubating start-ups, Anndy has also been a private investor for the past eight years. With a growth investment mindset, Anndy strategically demonstrates this in the companies he chooses to be involved with. He believes that what he is doing through blockchain technology currently will revolutionise and redefine traditional businesses. He also believes that the blockchain industry has to be “redecentralised”.

You can read more about Anndy’s work at www.anndy.com

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Baby Cake Teams Up with Luna PR to Cook Up More Juicy Marketing Plans

Baby Cake Teams Up with Luna PR to Cook Up More Juicy Marketing Plans

The entire Baby Cake team is excited to announce our partnership with Luna PR, an award-winning crypto and PR global marketing agency headquartered in Dubai.

We look forward to collaborating with Luna PR to bolster our long-term marketing strategy, reach more people through news, and attract more investors and buyers to the world’s first CAKE reflection token rewarding holders with CAKE instead of tokens.

Since 5% of each Baby Cake transaction is allocated to marketing efforts, we’re beyond excited to harness Luna PR’s talented team and get to work, both to propel our most ambitious projects forward and reward our active community.

Luna PR currently works with clients across five continents. They’ve served notable projects like Huobi, Paxful, eToro, Nexo, and EverRise.

Baby Cake: The Next Gen Of BSC Yield-Gen Contracts

With a unique volume-triggered reward system, $BABYCAKE token holders can simply HODL to receive hourly CAKE in their wallet. Baby Cake is a yield-generating contract based on Binance Smart Chain (BSC).

We’re also the first platform where users do not need to manually claim earned CAKE.

Users must hold at least 200,000 tokens to receive passive rewards. It’s advantageous to hold tokens since 7% of every buy/sell is redistributed to all holders. 3% of each transaction is converted into PancakeSwap liquidity. An extra 1% sale fee prevents the possibility of whales dominating and reduces swing trades. The contract can also be modified depending on market conditions.

Our new partnership with Luna PR is just the latest in a string of notable news items for Baby Cake fans over the past several days.

Lots To Look Forward To For The Rest Of 2021

We’re still gearing up for a September launch of BabyCakeSwap. In October, we’ll be at the Dubai DeFi summit & crypto expo and look forward to releasing our Baby Cake passive income generator app.

Earlier this month, Baby Cake warmly welcomed Anndy Lian as an advisor. Currently serving as the Chief Digital Advisor to the Mongolian Productivity Organization, Lian is a well-known business and intergovernmental strategist. He’s also the author of Blockchain Revolution 2030.

Finally, be sure to stay on the lookout for Baby Cake’s special daily event announcements. We’ve already spread the word about ‘Diamond Hands Sundays’ – where there’s 12% CAKE rewards! The next day ushers in ‘Buy Back Mondays’ where collected rewards are used to purchase back Baby Cake tokens.

Don’t forget to keep up with the latest Baby Cake news by following us on TwitterReddit, and Telegram, or by checking out our website!

Source: https://www.newsbtc.com/press-releases/baby-cake-teams-up-with-luna-pr-to-cook-up-more-juicy-marketing-plans/

Anndy Lian is an early blockchain adopter and experienced serial entrepreneur who is known for his work in the government sector. He is a best selling book author “Blockchain Revolution 2030”. Currently, he is appointed as Chairman, Asia for BigONE Exchange and Chief Digital Advisor, Mongolia Productivity Organisation. Anndy is part of the Gyeongsangbuk-do Blockchain Special Committee, Government of Republic Korea, together with industry experts such as Brock Pierce. Lian played a pivotal role as the Blockchain Advisor for Asian Productivity Organisation (APO), an intergovernmental organization committed to improving productivity in the Asia-Pacific region and was previously the Advisory Board Member of Hyundai DAC Technology.

An avid supporter of incubating start-ups, Anndy has also been a private investor for the past eight years. With a growth investment mindset, Anndy strategically demonstrates this in the companies he chooses to be involved with. He believes that what he is doing through blockchain technology currently will revolutionise and redefine traditional businesses. He also believes that the blockchain industry has to be “redecentralised”.

You can read more about Anndy’s work at www.anndy.com

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Anndy Lian: “DeFi will be too profitable to simply kill off with regulation”

Anndy Lian: “DeFi will be too profitable to simply kill off with regulation”

Decentralized finance (DeFi) poses both opportunities and challenges for governments and regulators coming out of the pandemic. Take the case of the USA where tricky new regulations around crypto have been tacked on the key infrastructure bill, lead by Senator Elizabeth Warren, including her urging Treasury Secretary Janet Yellen to identify and remedy risks posed by cryptocurrencies.

At the same time, you have countries like Kazakhstan, Canada, U.S.A. is benefiting from the migration of crypto miners following China’s crackdown, now allowing bitcoin to be used by their banks. The task for the DeFi sector is to carry on educating Governments and regulators on the benefits of DeFi especially in parts of the world where banking is hard to access, and in promoting crypto entrepreneurship for the future. Nevertheless, governments are trying to know more to get themselves fitted with the new DeFi trends.

DeFi is here to stay, that’s worth saying first and foremost. What shape it takes, and how much it will be a benefit to everyone rather than a select few, depends on all stakeholders working together. DeFi startups that take a proactive attitude, following best practices, and in dialogue with their regulators, will be in the best position to advance not just their business but also the interests of their customers. Obviously, recent examples such as Binance reigning in the amount of leverage they are offering for futures contracts show that it’s prudent to take account of the regulatory landscape.

As a pro-government crypto advisor myself, I emphasise the value of working with regulators and the public to explain the risks involved in different products are vital.

 

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Regulators are Coming for the DeFi Goose and Its Golden Eggs

  • There are two big sources of ambiguity: one is conceptual and linguistic, and the other relates to international consistency.
  • DeFi’s survival is “guaranteed” by the fact that it’s much too lucrative for governments to completely hobble it.

Regulation is becoming a very hot topic in the crypto industry as governments try to understand how they should respond to this still relatively new phenomenon. With United States-based crypto companies now fighting the infrastructure bill battle in the House after a defeat in the Senate, the industry could potentially look very different in a few years, after recently proposed rule changes have been implemented.

Various sub-sectors within crypto will likely be affected in different ways by incoming regulation, but one area that may be affected more than most is decentralized finance (DeFi). This is largely because, due to its arguably decentralized nature, it would potentially be very hard to carry out know-your-customer (KYC) and anti-money laundering (AML) checks on users if it becomes truly decentralized.

According to industry figures who spoke to Cryptonews.com, DeFi is currently dogged by vagueness, ambiguity and inconsistency in the application of existing rules, as well as proposed new laws. However, while most observers agree that DeFi will likely suffer from ongoing regulatory uncertainty in the short-to-medium term, they also say that regulators will ultimately choose to adopt guidelines that nurture – rather than nuke – the fledgling sector.

Ambiguity…and more ambiguity

The aforementioned infrastructure bill provides a good example of the kind of minefield that current and incoming regulations present to the DeFi world.

The original draft of the bill included decentralized exchanges and peer-to-peer marketplaces in its definition of “broker,” thereby encompassing much of DeFi with its proposal to subject all “brokers” to the requirement to report large transactions to the Internal Revenue Service (IRS).

Coin Center executive director Jerry Brito celebrated an amendment that sought to remove both decentralized exchanges and peer-to-peer marketplaces from the scope of the bill. However, a subsequent proposed amendment proposed altering the language yet again, so that only proof-of-work mining appeared to be excluded by the new definition of “broker.”

This isolated example illustrates just how tricky it will be for DeFi players to navigate future regulations.

But there are plenty more examples of this kind of lack of clarity and certainty. It’s a common feature of pretty much all laws and regulations that will affect the DeFi sector, from the European Commission’s recent anti-money laundering proposals to the Financial Action Task Force (FATF)’s soon-to-be-revised guidelines.

There are two big sources of ambiguity: One is conceptual and linguistic, and the other relates to international consistency.

Anndy Lian, the Chairman of the crypto exchange BigONE and the Chief Digital Advisor to the Mongolian Productivity Organization, said,

“At the FATF recent Plenary meeting in June this year, a key takeaway was the concern around the apparent lack of consensus across different jurisdictions and between industry players regarding the best way to comply with the Travel Rule. And while the private sector has led the way in developing solutions to enable implementation of the Travel Rule, ‘a majority of jurisdictions have not yet implemented the FATF’s requirements.’”

For Lian, the real issue and challenge for the DeFi sector is the uneven compliance with the Travel Rule across jurisdictions, which “poses real headaches for both DeFi businesses and their customers.”

But in terms of incoming and future regulation, there’s also a big problem related to semantics and conceptual clarity. According to the MakerDAO (MKR) community member PaperImperium, technical terms aren’t used consistently by regulators and the crypto industry, making it unclear as to what exactly policymakers want.

PaperImperium told Cryptonews.com:

“A great example of this is the debate around stablecoins. As the Gorton-Zhang paper from a few weeks ago makes clear, later confirmed by private discussions, even a term as simple as ‘stablecoin’ has a different meaning in policy circles than in the cryptoverse.”

Most people working within crypto would use the term “stablecoin” to signify any token that is purposefully trying to remain in a price band around a given benchmark. However, PaperImperium said, “policymakers and regulators are generally talking about redeemable-upon-demand-for-fiat tokens to the exclusion of algorithmically managed tokens.”

This creates a big headache for stablecoins such as DAI, which is generated by MakerDAO. In fact, prior to the recent infrastructure bill, the Democratic Representative Don Beyer has put forward a draft bill that would effectively outlaw all stablecoins that don’t meet certain regulatory criteria and aren’t registered by their issuer. The latter condition is something that DAI, for instance, could never meet.

Still, most people working within DeFi claim that regulation is not only inevitable, but good for the sector in the long term.

Layerzero, a member of MakerDAO’s Sustainable Ecosystem Scaling Core Unit Team, explained:

“I believe regulation is necessary and a sign that the industry matures. Not having legal certainty is a risk that hinders future growth.”

And Layerzero added,

“I welcome good regulation that provides legal certainty to market participants and that doesn’t hinder innovation, but of course, this is hard to achieve. The problem is that the current regulatory framework is outdated and was not designed for decentralized ledger technology.”

DeFi’s golden eggs

New proposals are coming thick and fast at the moment, and it’s uncertain what regulatory hurdles the DeFi ecosystem will have to clear in the months and years to come. It’s also uncertain whether all soon-to-be-imposed hurdles will actually be clearable, and whether further growth in DeFi sector might become somewhat restricted as a result.

Still, DeFi industry players estimate that the sector will endure for a long time to come, even if its mature form may be somewhat different from how it is now.

For ​​Skirmantas Januškas, the CEO and Co-founder of DappRadar, DeFi’s survival will be guaranteed by the fact that it’s much too lucrative for regulators and governments to completely obliterate.

He told Cryptonews.com:

“The sheer amount of wealth generated and locked into our industry – especially now, at a time when governments inject trillions into the economy by way of rescue packages to the detriment of, say, infrastructure and other long-term needs that must also be met – makes us the proverbial goose that laid the golden eggs. And the act of laying golden eggs is a potentially taxable event.”

Given that DeFi went from USD 1 billion in total value locked in to around USD 90 billion in just under a year (according to DeFi Pulse), most governments will want to extract a portion of the value it has generated for tax and public spending. In other words, they will seek to avoid imposing too-stringent regulation.

Januškas added:

“Regulators worldwide will likely seek to capitalize on our industry, just as we crypto natives have, and this places us in a very strong position in a dialogue that is only just starting. And while it may take years of regulations being proposed, effected, repealed, before we come to a solution that safeguards consumers’ and governments’ interests and still harbors innovation, the regulations that do come into force will likely work to DeFi’s advantage in the long run.”

Anndy Lian agreed that DeFi will be too profitable to simply kill off with regulation, regardless of how that regulation will end up looking in a few years. In his view (as someone who actually does advise governments), DeFi poses both opportunities and challenges for governments and regulators emerging from the coronavirus pandemic.

Lian said,

“The task for the DeFi sector is to carry on educating governments and regulators on the benefits of DeFi especially in parts of the world where banking is hard to access, and in promoting crypto entrepreneurship for the future. Nevertheless, governments are trying to know more to get themselves fitted with the new DeFi trends.”

The question is: how long will DeFi need to wait until authorities produce the clear regulations the sector needs to grow sustainably?

“In some areas, like tax or AML, it’s a matter of months. In some others, it’s unrealistic to expect full regulatory clarity even within years,” said Jacek Czarnecki, the Global Legal Counsel at MakerDAO.

Given the likely lengths of time involved, Czarnecki suggested that new DeFi projects should definitely engage in dialogue with regulators and policymakers.

Czarnecki told Cryptonews.com,

“We have pioneered such activities at Maker, and have been meeting with both multiple national regulators (including central banks) as well as international organizations (e.g. the OECD, FATF, the Financial Stability Board) since 2018. That has helped us gain trust and awareness among the regulatory community.”

Source: https://cryptonews.com/exclusives/regulators-are-coming-for-the-defi-goose-and-its-golden-eggs-11458.htm

 

Anndy Lian is an early blockchain adopter and experienced serial entrepreneur who is known for his work in the government sector. He is a best selling book author “Blockchain Revolution 2030”. Currently, he is appointed as Chairman, Asia for BigONE Exchange and Chief Digital Advisor, Mongolia Productivity Organisation. Anndy is part of the Gyeongsangbuk-do Blockchain Special Committee, Government of Republic Korea, together with industry experts such as Brock Pierce. Lian played a pivotal role as the Blockchain Advisor for Asian Productivity Organisation (APO), an intergovernmental organization committed to improving productivity in the Asia-Pacific region and was previously the Advisory Board Member of Hyundai DAC Technology.

An avid supporter of incubating start-ups, Anndy has also been a private investor for the past eight years. With a growth investment mindset, Anndy strategically demonstrates this in the companies he chooses to be involved with. He believes that what he is doing through blockchain technology currently will revolutionise and redefine traditional businesses. He also believes that the blockchain industry has to be “redecentralised”.

You can read more about Anndy’s work at www.anndy.com

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Investing In Memecoins: Essential Tips On How To Find The Next 1000×

Investing In Memecoins: Essential Tips On How To Find The Next 1000×

Investing in meme coins comes with its ups and downs, even for the most seasoned investors. However, one can minimize the risks and maximize the rewards by seeking out and applying the right information. There are thousands of meme coins to select from, and most of them are scams. Therefore, you will need to be at your best in order to stand a chance in this market.

The truth is that there are diamonds among stones; you just have to know where and how to look. These special meme coins have the potential to produce 1000× for investors who caught it early. This article shall explore the risks involved in investing in meme coins, the huge potential, and some promising coins to consider.

For every investment, you have to evaluate the risks and rewards involved in that investment. Therefore, there are basically two factors to consider:

Low-Risk Investment

About 90% of new meme coins are scams, so learning how to avoid the rugpulls will help boost your expected returns.

High Potential/Reward

Having a strong and dedicated team with a long-term vision for the project rather than have a copy-paste project.

How To Avoid Rugpulls And Minimize Risk

With my experience in the crypto space and having analyzed several crypto projects, I can point out the signs of a crypto rugpull. This analysis majorly applies to tokens that are listed/launched on decentralized exchanges like Uniswap and PancakeSwap.

The initial token distribution
One of the early signs of a crypto rugpull is when the dev team allocates a big chunk of the tokens to themselves. Alternatively, they can give up 50% of the token to a crypto celebrity. This is a red flag because they can dump their huge allocation since they didn’t buy like the rest of the investors. A good crypto token has virtually all the tokens put onto a DEX for purchase by any interested party.

Who owns the liquidity pool?
An early rugpull gimmick is when developers of a token put it in a decentralized exchange and ensure they own the entire liquidity pool. This gives them the power to remove the entire liquidity pool anytime they wish, with all BNB and ETH tokens inside it. Always check for the top liquidity providers for new projects. For security purposes, most of the liquidity pool should be held by the burn address.

High transaction fees
When you find out that there are high transaction fees for the transfer of tokens and that these fees are not transparent, it is a sign you need to back out. Always conduct quality research to know and understand the fees beforehand. A high transaction fee is also another tactic to discourage people from selling the tokens.

Maximizing Meme Coin Investment

Remember that we have two goals while investing in meme coins; to reduce risk and maximize returns. Here are the tips on how you can identify the next 1000× meme coin out there:

Does the project have a long-term focus?
Before investing in any meme coin, take out time to explore the token’s community to know what the developers focus on. Do they have a long-term agenda of building a strong community and long-term growth? Are they more interested in trying to pump the price and pressure people into buying? The former is a good thing, while the latter is a red flag. It would help if you also found out whether there is a whitepaper for the project highlighting its real vision and mission.

What is the reputation and track record of the dev team?
Is the team behind the project trustworthy, or are they just filled with empty promises? When they say they are going to get something done, do they follow through to get it done? Are they only making promises just to pump the price? When you find the answers to these questions, they will help you know the future potential of the token. When the development team is not trustworthy, then they have no intention of building for the long term.

Does the token have real meme potential?
In today’s reality, cute tokens easily win market share since most people love to buy adorable and beautiful tokens. A good example of people’s love for the adorable meme is how the Doge community has grown over the last few months.

Promising Meme Coins To Invest In

Following the above analysis, here are a few promising meme coins that investors should consider.

MiniDoge
MiniDoge is the first auto-boost and hyper-deflationary meme coin in the crypto market.

CorgiCoin
CorgiCoin is the Binance Smart Chain (BSC), and it is completely community-owned.

BabyDoge
BabyDoge is a deflationary token created by the fans of the DogeCoin community as an upgrade of Dogecoin itself.

CateCoin
CateCoin is a payment meme coin used to pay meme creators for creating memes on meme platforms.

1000X is just a dream to many, it has a lot of risks that come with it. You need to study the project properly from its team members to their tokenomics. You have to ask them where are their revenue streams too. Lastly, look carefully where they are listed. Some exchanges are safer, more reputable than others. Always do your own research.” Anndy Lian, Chairman for BigONE Asia and Chief Digital Advisor for Mongolian Productivity Organisation commented.

Disclaimer: The information contained on this article is provided for educational purposes, and does not constitute investment advice.

Source: https://www.benzinga.com/markets/cryptocurrency/21/08/22326671/investing-in-memecoins-essential-tips-on-how-to-find-the-next-1000

Anndy Lian is an early blockchain adopter and experienced serial entrepreneur who is known for his work in the government sector. He is a best selling book author “Blockchain Revolution 2030”. Currently, he is appointed as Chairman, Asia for BigONE Exchange and Chief Digital Advisor, Mongolia Productivity Organisation. Anndy is part of the Gyeongsangbuk-do Blockchain Special Committee, Government of Republic Korea, together with industry experts such as Brock Pierce. Lian played a pivotal role as the Blockchain Advisor for Asian Productivity Organisation (APO), an intergovernmental organization committed to improving productivity in the Asia-Pacific region and was previously the Advisory Board Member of Hyundai DAC Technology.

An avid supporter of incubating start-ups, Anndy has also been a private investor for the past eight years. With a growth investment mindset, Anndy strategically demonstrates this in the companies he chooses to be involved with. He believes that what he is doing through blockchain technology currently will revolutionise and redefine traditional businesses. He also believes that the blockchain industry has to be “redecentralised”.

You can read more about Anndy’s work at www.anndy.com

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