In the crypto sphere, every day can bring its share of revolutions. Binance has just added a new string to its bow with Memecoin, a cryptocurrency that could well give the famous Dogecoin a run for its money.
Memecoin: the new face on Binance
Memecoin, or MEME for short, is not just another cryptocurrency. Announced as the 39th project on the Binance Launchpool, it is the result of a collaboration between Binance and 9GAG, the most popular meme platform in the world.
It is therefore a marriage between financial technology and internet culture. The potential ? Reach a massive, young and tech-savvy audience. In other words, Memecoin might just be the David ready to challenge the Goliath Dogecoin.
Binance is not only launching a new currency, it is also offering its users the opportunity to earn MEME Coins. How ? By blocking their BNB, TUSD and FDUSD in different pools for 30 days.
Rewards begin tomorrow, with altcoin pairs activating on November 3. This initiative, which emphasizes the community and participatory aspect dear to crypto, could well attract many investors.
Clear rules for transparent play
Participation in the Memecoin Launchpool is subject to certain conditions. Firstly, a mandatory KYC (Know Your Customer) requirement for users.
Additionally, a time limit will be imposed on the MEME tokens that users can stake in each pool.
However, Binance ensures clarity in the process. Rewards are calculated on an hourly basis and can be claimed at any time. In short, everything is put in place to guarantee an optimal user experience, while ensuring the security and transparency of operations.
The crypto sphere is constantly evolving, and Binance, with the launch of Memecoin, has once again proven it. Faced with a well-established Dogecoin, will the MEME manage to find a place in the sun? One thing is certain, Binance, with its reputation and its ability to innovate, has all the cards in hand to make Memecoin the next big name in the cryptosphere. It remains to be seen whether investors and the general public will follow. Meanwhile, Bitcoin and Ether are reliving the glories of 2021.
Receive a summary of the news in the world of cryptocurrencies by subscribing to our new servicedaily and weekly so you don’t miss anything of the Tremplin.io essentials!