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🤩 Memeverse

Everything is meme

Everything is Memecoin

In recent times, Memecoins have emerged prominently in the cryptocurrency market, attracting significant attention from investors and the media. Looking back at the history of cryptocurrencies, various concepts have continuously emerged, captivating investors' interest. However, most of these concepts have gradually faded away, while Memecoins have remained enduringly popular. Their popularity has even intensified amid growing discontent with venture capital governance tokens.

Governance tokens are Memecoins with additional steps

All governance tokens are essentially Memecoins, with their value depending on the meme origin of the protocol. In other words, governance tokens are Memecoins dressed in suits. Why is this said?

• Value Driven by Perception and Hype: Both governance tokens and Memecoins rely on community perception and hype to drive their market value. The community's activity level, the narrative behind the project, and media attention all significantly impact the prices of these tokens.
• Critical Community Influence: The success and market acceptance of both governance tokens and Memecoins heavily rely on the strength of their communities. Communities can increase token value through promotion, proposals, and participatory decision-making, crucial for their sustained growth.
• Speculative Nature and Market Trends: Both governance tokens and Memecoins exhibit strong speculative tendencies in the cryptocurrency market. Investors often buy these tokens with the expectation of market appreciation, influenced by trends, sentiments, and investor behavior.
• Utilization of Marketing and Memetics: Governance tokens and Memecoins often use similar strategies for promotion, such as leveraging entertaining memes, social media campaigns, and influential supporters to increase their exposure and appeal.
• Symbolic Significance: Governance tokens symbolize ownership in a protocol or project's future development, akin to Memecoins representing cultural or social memes. This symbolic value significantly enhances their market attractiveness and investor engagement.

Therefore, governance tokens are essentially formalized Memecoins with additional features and a more serious branding approach. However, their core dynamics and reliance on community-driven value remain unchanged. Moreover, governance tokens are facing significant challenges and a gap between perception and reality:

• Revenue Distribution Restrictions: Due to securities law limitations, many governance tokens cannot distribute income to holders through dividends or similar methods. This restriction weakens the economic incentive for holding governance tokens, making them more reliant on memes to maintain their value and engagement.
• Community-Oriented Decision-Making Framework Issues: The design of governance tokens aims to drive protocol development and decisions through community participation. However, in reality, many governance tokens face issues such as concentration of holdings, low participation rates, opaque governance processes, and ineffective implementation of governance decisions. These challenges often prevent governance tokens from effectively fulfilling their intended community-driven functions.
• Memecoin-like Characteristics: Many governance tokens behave similarly to Memecoins, reflecting more speculation and community culture than actual protocol governance needs. These tokens may lack long-term practical utility or substantial impact on protocol governance.

This is not to say that governance tokens are useless. Ultimately, their existence serves as a constant reminder of the need for regulatory updates. However, governance tokens can often cause as much harm as memecoins in many cases:

• For Builders: Many well-known venture capital-backed governance tokens have started issuing tokens long before product launches, leading to severe disillusionment. This directly undermines the credibility of founders who have worked for years to gain adoption. For instance, Zeus Network even launched with a $1 billion fully diluted valuation (FDV) before product release, a goal that many founders struggle to achieve even after achieving significant milestones.
• For Community: Most governance tokens are venture capital-backed, launching at high valuations and gradually transitioning to retail investors. The so-called decentralized process often turns out to be a process of selling off their company, leading to numerous projects failing catastrophically. Even ICOs from 2017 are viewed more favorably compared to current low-circulation tokens backed by venture capital, as they mostly unlocked a large portion of their supply upon release.
• Low FDV Launch: Allowing retail investors to profit from repricing and helping to form a strong community and sense of identity. Refer to the Celestia case study.

Memecoin is a product of the financial system's collapse

Bitcoin can be considered the largest and oldest Memecoin, born after the 2008 financial crisis. Negative or zero real interest rates have compelled every depositor to speculate in new, shiny asset categories, such as Memecoins. The market environment created by zero interest rates is filled with desperados sustained by cheap capital. Even top indices like the S&P 500 have around 5% zombie companies, which will fare worse as rates rise, making them not much different from Memecoins. What's worse, these companies are promoted by fund managers, with retail investors buying into them every month.

Based on this, the term "financial nihilism" has recently garnered a lot of attention. It encapsulates the viewpoint that the cost of living is strangling most Americans, with fewer opportunities for upward mobility. The American Dream has essentially become a thing of the past, as the median ratio of housing prices to income has reached unsustainable levels. The fundamental driving force behind financial nihilism is similar to populism, which is a political approach that appeals to ordinary people disillusioned with established elite groups—"this system isn't working for me, so I want to try something very different" (for example, opting to invest in TRUMP instead of voting for Biden).

As a fundraising mechanism, Memecoin

Memecoin can serve as an excellent fundraising mechanism and listing strategy. Traditionally, projects raise substantial funds by allocating 15-20% to venture capitalists, developing products, and subsequently building community through marketing efforts while issuing tokens. However, this often results in the community feeling ultimately abandoned by venture capitalists.

In the Meme era, people can raise funds by launching their Memecoin (without a roadmap, just for fun) and early forming tribal-like communities. Then, they can continue to build applications/infrastructure, steadily increasing the utility of the Memecoin without making false promises or providing roadmaps. This approach leverages tribalism within the Memecoin community (e.g., holder bias), ensuring high engagement from community members who become your BD/marketing personnel. It also ensures fairer token distribution, countering the low circulation high FDV pumping and dumping strategies employed by venture capitalists. This trend will eventually lead to a fusion of Memecoin and governance tokens. It's important to note that not all Memecoins are fair, scams are common, but they are easier to expose than the scams carried out quietly by venture capitalists.

In summary

• Everything is a meme.
• Researching Memecoins as a fundraising and community-building mechanism.
• Projects should lean towards fairer launches.

It's time to make early-stage financing more open.

Trapping into the Memeverse

Alright, let's trapping into the Memeverse.

Inspired by FFLaunch, Memeverse shares many similarities and can be seen as the public version of FFLaunch, specifically designed as a protocol for Memecoin, while inheriting all the advantages of FFLaunch. Compared to the entry barriers of FFLaunch, anyone can create their own Memecoin on Memeverse, adhering to the principles of Fair & Free. Due to the no entry barriers for Memeverse, and for security reasons, Memeverse has removed the customizable token generator interface. Instead, a generic token template is used to create Memecoins, allowing users to deploy them effortlessly through our website UI without any programming knowledge required.

Unlike FFLaunch, the tokens deployed on FFLaunch are primarily utility tokens with intrinsic value and good liquidity. In contrast, most Memecoins lack utility value, and their price volatility is significantly influenced by token liquidity. Therefore, a portion of the liquidity for Memecoins deployed on Memeverse will be permanently locked to support their sustained liquidity.

For details regarding FFLaunch features, please refer to the comprehensive FFLaunch documentation.

Why choose Memeverse?

Currently, there are many ways to issue Memecoins on the market, but these methods are often primitive and lack innovation. They also pose significant risks such as insider trading, rug pulls and has a serious gambling nature, creating no new value. In contrast to competitors in the market, Memeverse offers the following advantages:

Currently, there are many Memecoins launch methods in the market, but these methods are quite primitive and lack innovation. They also face significant risks, such as insider trading (Some platforms even promote “immediate purchase within the same transaction as the token issuance” as a major selling point.), Rug Pulls, and a strong element of gambling, without creating any new value. Compared to its competitors in the market, Memeverse offers the following advantages:

• Unique Symbol Ensures Scarcity: Each Memecoin's symbol in Memeverse is unique, ensuring naming scarcity. This helps Memecoins (especially those created for news-driven trading) to have stronger recognition and appeal in the market.

• FFLaunch Style Launch: Memeverse launches through FFLaunch to avoid common risks such as fraud, insider trading, and rug pulls in traditional Memecoin issuance. This method ensures that all participants start on an equal footing, reducing their risk and providing a relatively safe way to participate.

• Capturing Staking Rewards from Outstake: Memeverse allows users to earn native staking yields generated by Outstake through minting Memecoin, which enhances capital efficiency. This enables investors to participate in Memecoin activities while also engaging in DeFi staking. This mechanism not only attracts novice investors to DeFi but also brings more potential users to the DeFi ecosystem.

• Continuous Financial Support and Gas Fee Refund Returns: Memecoin creators can receive ongoing financial support from trading fees generated by locked liquidity and enjoy a rebate of all gas fees incurred on that Memecoin (Only Blast L2). These forms of revenue provide economic support and incentives for the continued operation of the Memecoin community or for developing utility functions for Memecoin.

• Memeverse Referral Service: Memeverse allows users to generate one-click direct referral links for Memecoin. Clicking the link will take users directly to the Memecoin details page. When the referred users trade using the link, the referrer will receive a commission from the protocol fees.

• Memeverse Reserve Fund: The Memeverse Reserve Fund can provide price support, and anyone can use the funds in the reserve fund. Additionally, during continuous repurchases, a portion of Memecoin will be permanently destroyed, and the reserve fund will continuously grow in size when Memecoin is sold.

• PPP Low-Risk Attracts More Capital Participation: Compared to the prevalent high PVP sentiment in the current Memecoin market, participating in the Memeverse genesis involves lower risk. Due to the features of FFLaunch and the presence of reserve funds, even in the almost impossible extreme scenarios, investors can retain most of their investment, and this predictability in mathematics eliminates uncertain risks. This low-risk characteristic attracts capital with lower risk tolerance to invest in Memecoin, providing more abundant liquidity for Memecoin issued through Memeverse. This lays a solid foundation for the development of Memecoin.

• Community Support and Viral Spread from Genesis Users: Every participant in the Memecoin genesis launch becomes a strong advocate for the Memecoin community. They not only hold tokens but also possess liquidity shares locked during the genesis period, making them shareholders during this time. This fundamental drive encourages them to promote the Memecoin they participated in during the liquidity locking period. This mechanism helps reduce operational barriers during the Memecoin community's cold start phase and promotes rapid viral adoption.

In summary, Memeverse provides innovative issuance methods, staking reward mechanisms, economic support measures, and community-driven forces, offering new perspectives and solutions for Memecoin development. These advantages not only enhance the market competitiveness of Memecoins but also have the potential to drive the entire industry towards greater transparency, security, and sustainability.

Memeverse Reserve Fund

The Memeverse Reserve Fund is established during the genesis phase of Memecoin, so each Memecoin has its own reserve fund. During the genesis phase, 20% of the PT minted by investors are allocated to the reserve fund. When the reserve fund is fully constructed, it initially contains only liquidity staking tokens, with no Memecoin. The benchmark price of Memecoin set in the reserve fund is anchored to the initial price at the time of open trading.

The reserve fund is accessible to everyone, allowing anyone to utilize its funds. Users can use the reserve fund to buy back their Memecoin at the initial price or sell Memecoin from the reserve fund. It's important to note that when using the reserve fund to buy back Memecoin, 20% of the Memecoin will be burned initially. Conversely, purchasing Memecoin from the reserve fund will incur a 20% premium, meaning an additional 25% of fund tokens will be required to purchase Memecoin. The reserve fund serves multiple purposes and is an integral part of the Memeverse ecosystem.

• Price Support: Since anyone can use the funds in the reserve fund to trade around the initial price of Memecoin, it will provide strong price support for Memecoin. Additionally, as trading continues, the size of the reserve fund will expand, offering even stronger price support.

• Assisting Deflation: When using the funds in the reserve fund to buy back Memecoin, a portion of the Memecoin will be burned. This will help with the deflation of Memecoin, reducing the circulating supply in the market.

• Price Arbitrage: When the market price of Memecoin falls below a certain threshold, users can buy Memecoin from the market and then use the reserve fund to repurchase and complete arbitrage. Conversely, if the reserve fund holds Memecoin and the market price of Memecoin rises above a certain threshold, users can purchase the previously repurchased Memecoin from the reserve fund and sell it on the market to complete arbitrage.

The Memeverse Reserve Fund plays a crucial role, as not all Memecoins will experience an immediate price surge after launch. Most Memecoins will go through a challenging phase where their prices struggle near the initial offering price. During this phase, the Memeverse Reserve Fund can support the growth of these Memecoins. However, if a Memecoin's price surges immediately after launch and never drops, the Memeverse Reserve Fund may remain unused, serving as a redemption fund similar to that of PeopleDao.

Referral service

The value of Memecoins often comes from community members spreading the word and actively promoting them. When community members discuss and share their views and experiences with Memecoins on different platforms, it effectively spreads the value and philosophy of the coin, attracting more new users and investors.

The success of Memecoins like Dogecoin largely depends on the power of the community. Through platforms like Reddit, Twitter, and other social media, community members continuously promote, share memes, organize events, and attract a large number of supporters, including celebrities. Eventually, Dogecoin not only became a popular cryptocurrency but was also adopted in specific practical scenarios such as tipping, donations, and sponsorships.

Therefore, we have developed a unique referral service where users can generate exclusive referral links to share on social media platforms. Through these referral links, other users can directly access the Memecoin details page with a single click, eliminating the steps of searching for contract addresses and checking details within the community. When transactions are made on the Memecoin details page, referrers will receive a 20% commission from the protocol fees. This referral service not only stimulates community activity but also reduces barriers for potential community members to join, bringing the following benefits to Memeverse:

• Simplified Referral Process: With one-click access links, potential users can quickly learn about and trade Memecoin, reducing the cumbersome steps of finding contract addresses and checking Memecoin details, greatly lowering the entry threshold.
• Incentive Mechanism: Referrers receive a 20% commission from the protocol fees. This reward mechanism not only encourages existing community members to actively promote but also attracts new members, expanding the community.
• Increased Transparency and Trust: Referral links directly lead to the Memecoin details page, allowing users to quickly obtain the necessary information, enhancing the project's transparency and user trust.
• Enhanced Community Activity: This Referral method can motivate community members to participate and interact more frequently, enhancing community activity and cohesion.

When users trade using your Memeverse referral link, it will temporarily bypass Outrun AMM's referrers. If the trading user does not have a referrerat that time, you will be directly registered as the user's referrer.

Event lifecycle

Compared to FFLaunch events, the lifecycle of Memeverse events is simpler, involving only 2 entities and 4 stages.

Entities

1. Investors
2. Creator

Stages

1. Preparation Stage

• The creator inputs the relevant information and sets all the rules for the genesis Memeverse on the Memeverse website UI as prompted. After confirming the creation, the Memeverse immediately enters the genesis stage.

2. Genesis Stage

• During the Genesis phase of Memeverse, investors can call the deposit method of the Memeverse contract to stake native yield token in Outstake, minting PT and a corresponding amount of Memecoin. Two-thirds of the Memecoin will be paired with 80% of the PT to add liquidity on Outrun AMM, with the LP being locked in the Memeverse contract (50% of the LP will be permanently locked). Additionally, liquidity proof tokens, which can be traded, will be minted for the investors. The remaining one-third of the Memecoin will be sent directly to the users, while the remaining 20% of the PT will be added to the Memeverse Reserve Fund.
• It is worth noting that to prevent the genesis of Memeverse from becoming too widespread, the accumulated liquidity during the genesis stage must reach a certain threshold to proceed to the next stage. Otherwise, it will continue until enough liquidity is accumulated.

3. Liquidity Locking Stage

• After the genesis stage ends, anyone can call the Memeverse contract to open the trading switch, allowing Memecoins to be freely traded.
• During this stage, the market-making earnings generated by the LP locked in the Memeverse contract will be distributed to the creator. They also enjoy the refund of all gas fees generated on the Memecoin (Only Blast L2). These income forms provide financial support and incentives for the sustained operation of the Memecoin community.
• The Memeverse Reserve Fund will be activated，the benchmark price of Memecoin set in the reserve fund is anchored to the initial price at the time of open trading. Users can use the reserve fund to buy back their Memecoin at the initial price or sell Memecoin from the reserve fund. It's important to note that when using the reserve fund to buy back Memecoin, 20% of the Memecoin will be burned initially. Conversely, purchasing Memecoin from the reserve fund will incur a 20% premium, meaning an additional 25% of fund tokens will be required to purchase Memecoin.

4. Liquidity Unlocking Stage

• When the liquidity locking period expires, investors can choose to withdraw their liquidity locked during the genesis stage.
• It's worth noting that it's possible to unlock liquidity early even before the liquidity unlocking phase, but only a portion can be unlocked, and the remainder will be permanently locked. The unlockable portion dynamically increases based on the locked days, ranging from (0%, 70%], meaning early unlocking will incur a minimum loss of 30%.

These stages and entities collectively define the complete lifecycle of Memeverse events, ensuring the security, transparency, and compliance of Memecoin throughout the lifecycle.

Social Bonding (Under Construction)

Similar to the social bonding relationships in Friend.tech, this feature aims to maintain the connection between Memecoin creators and their communities, strengthening the interpersonal relationships within Memeverse. In the future, this will transition into a decentralized social product.

Impact of Memeverse on the Outrun Ecosystem

Impact on TVL of the Outrun Ecosystem

In this aspect, Memeverse has a similar impact on the Outrun ecosystem as FFLaunch, but to an even greater extent, due to the higher activity in Memecoin trading. With the presence of the Memeverse Reserve Fund and the permanent locking of a portion of liquidity, the circulation of PT will be significantly lower than the amount of staked native yield tokens.

The increasing demand for PT combined with reduced circulation will lead to a price increase, which in turn attracts more people to stake native yield tokens for arbitrage. The dual growth flywheel created by PT and YT will result in a continuously increasing amount of native yield tokens staked. This scenario represents the dream vision for LSD protocols like Lido.

Use Cases for LST and User Habits

Memecoins have the potential to bring a large number of users into DeFi, fostering the habit of using LST (PT) among them. This represents the dream scenario for many project teams dissatisfied with Memecoins, as they often struggle to find ways to integrate Memecoins with traditional DeFi.

Moreover, traditional DeFi investors often shy away from the perceived risks associated with Memecoins. However, Memeverse provides an opportunity to invest in Memecoins with extremely low and manageable risk. This opens a stable, bidirectional channel between DeFi and Memecoin users, allowing for mutual conversion.

Overall, Memeverse, through its innovative issuance model, staking yield mechanism, economic support measures, and community-driven force, offers new perspectives and solutions for the development of Memecoins. These advantages not only help enhance Memecoins' market competitiveness but also promote the industry toward greater transparency, security, and sustainability.