Binance Launches Memecoin (MEME) on Its 39th Project in Binance Launchpool
Binance, one of the world’s leading cryptocurrency exchanges, has unveiled its 39th project on Binance Launchpool – Memecoin (MEME), the native ecosystem token of Memeland. Memeland is a Web3 venture studio that is closely associated with the immensely popular meme platform, 9GAG.
Staking Opportunities and Rewards
Binance Launchpool will allow users to stake their assets, including BNB (Binance Coin), TUSD (TrueUSD), and FDUSD, into separate pools in order to farm MEME tokens over a span of 30 days. This farming endeavor is set to commence on October 28, 2023, at 00:00 (UTC). This opportunity opens the door for crypto enthusiasts to participate in the ecosystem and potentially reap the rewards.
Additionally, Binance plans to list MEME on November 3, 2023, at 08:00 (UTC), and trading pairs will include MEME/BTC, MEME/USDT, and MEME/BNB. The Seed Tag will be applied to MEME, offering further value and potential for traders and investors.
Key Memecoin Details
Let’s take a closer look at some essential details of Memecoin:
- 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: Memecoin (MEME)
- Staking Terms: KYC required
Staking Limits and Supported Pools
There are hourly hard caps per user for each pool:
- 153,333.33 MEME in BNB pool
- 19,166.67 MEME in TUSD pool
- 19,166.67 MEME in FDUSD pool
Supported Pools are as follows:
- Stake BNB: 1,104,000,000 MEME in rewards (80%)
- Stake TUSD: 138,000,000 MEME in rewards (10%)
- Stake FDUSD: 138,000,000 MEME in rewards (10%)
Farming Period and Distribution
The MEME farming period is scheduled from October 28, 2023, at 00:00 (UTC) to November 26, 2023, at 23:59 (UTC). The distribution of MEME tokens will occur daily, and it’s important for users to stay updated with the daily rewards for each pool.
Additional Support for BNB Vault Users
Binance BNB Vault will support the MEME Launchpool. Users who have staked their BNB in BNB Vault will automatically participate in the MEME Launchpool and receive MEME rewards daily in their Spot Wallets.
Users should be aware that they can only stake tokens in one pool at a time. For instance, it’s not possible to stake the same BNB into two different pools simultaneously, but allocation of assets across multiple pools is allowed.
Users also have the flexibility to unstake their funds at any time with no delay and participate in other available pools immediately. At the conclusion of each farming period, tokens staked in each pool and any unclaimed rewards will be automatically transferred to each user’s spot accounts.
Eligibility and Participation
It’s worth noting that participation in the Memecoin Launchpool is subject to eligibility based on the user’s country or region of residence. Users need to complete their account verification and be from an eligible jurisdiction to participate in farming MEME. Currently, residents of certain countries or regions, including Belarus, Canada, Cuba, Iran, New Zealand, Netherlands, North Korea, South Sudan, Syria, the United States of America and its territories, and Zimbabwe, will not be able to participate in farming MEME. It’s important to stay updated as this list may change due to evolving rules and regulations.
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