I got to know of something called a meme in November 2022. Don’t blame me, I didn’t have much social media exposure at the time. I pronounced it as 'MeeMee' not 'Meem' back then; Looking back, I feel so stupid😹
Coming into the crypto space in 2023 gave me more exposure to what a meme truly is as there are many ways to earn from them.

Before we get into that, What is a MEME?
→According to Grammarly, a meme is a humorous image, video, piece of text, or GIF that is spread across the internet, typically on social media
→According to Chat GPT, Memes are cultural symbols or ideas that spread rapidly, often in the form of humor, through social media, images, videos, text, or other forms of communication.

Well, that's according to them; according to me, a meme is a text, video, image or gif that is relatable, captivating or/and funny seen on the internet. I know there's more to it but I feel it is just something that resonates with people.

Memes can be seen anywhere on the internet:

-Social media platforms like X, Facebook, Instagram, TikTok
-Online communities like Reddit
-Messaging apps like WhatsApp, Discord, Telegram
-Image-sharing sites
-Online forums and discussion boards

Memes often reflect current events, trends, or societal behaviours. Memes have become a pillar of modern internet culture and have also influenced conversations, marketing, and even cryptocurrencies.

Memes influence in cryptocurrency paved the way for Memecoins. And everyone should know by now that there are many ways to make profits from memecoins.

Don’t worry if you don’t, that’s what I’m here for

Let’s begin with a definition:

As the name implies: ‘Meme’ and ‘Coin’. Meaning a coin based on a meme.

A memecoin is a cryptocurrency that is more about a fun image and attracting investors rather than being used for anything. They are usually based on internet memes, jokes, or popular cultural references. Memecoins are a direct result of the rapid development and popularity of cryptocurrencies and the increasingly strong meme culture on the internet.

They are typically created as lighthearted projects and often lack the technical utility found in more established crypto like Bitcoin or Ethereum. Instead, their value is largely determined by online communities, social media trends, and viral marketing. It is also seen that prices of memecoins fluctuate based on hype rather than intrinsic value. This is because there is no "best" meme coin, only meme coin fan favourites and speculators.

The Birth of Memecoins

The memecoin movement began with Dogecoin (DOGE) in December 2013.

Dogecoin is based on the Shiba Inu dog from the "Doge" meme. The original Doge meme began to spread on 4chan and Reddit at the time.

On December 8, 2013, Jackson Palmer and Billy Markus decided to capitalized on the cultural trend and launched Dogecoin on Bitcointalk. It launched as a layer 1 parody of Bitcoin. This made Doegcoin the first cryptocurrency based on internet memes.

Dogecoin was initially created for fun but quickly grew in popularity and became one of the major players in the crypto market.

By 2020, memecoins had grown beyond Dogecoin, with Shiba Inu (SHIB) leading as the self-proclaimed "Dogecoin Killer."

2021 was the golden era of memecoins, driven by the crypto bull run and social media influence. DOGE surged to all-time highs, peaking at $0.73 in May 2021, largely due to Elon Musk’s tweets and mainstream adoption.

Thousands of memecoins appeared since then. Some of these are legitimate while others are outright scams. Projects like SafeMoon, $FLOKI Inu, $MEME, $SHIB, $BONK and $PEPE the Frog also emerged during this period.

The Working Mechanism of a Typical Memecoin

In the case of memecoin, you must remember that they do not have the same limitations as, for example, Bitcoin and Ethereum. Their mechanism is pretty simple making it easy for anyone to launch a memecoin:

• Creating the Memecoin
  ➜A developer creates a memecoin on a blockchain, like Ethereum or Binance Smart Chain, using smart contracts.
  ➜The coin’s branding and theme is often tied to a meme or internet joke
  ➜Developers set the tokenomics of the memecoin (e.g., total supply, distribution, transaction fees).
• Launching the memcoin
  ➜The memecoin is introduced to the public, often through social media platforms like X
  ➜Some developers use airdrops, giveaways, or marketing campaigns to attract attention on these social media platforms
• Building a Solid Community
  ➜A strong community is built around the meme or idea the coin represents.
  ➜Memecoins thrive on social engagements; so users share memes, jokes, and updates to promote the coin.
• Listing on Exchanges
  ➜Memecoins are listed on decentralized exchanges (DEXs) like Uniswap or PancakeSwap, which allows users to trade them.
  ➜As popularity grows, some may get listed on centralized exchanges (CEXs) like Binance or Coinbase, to increase accessibility.
• Trading
  ➜Traders buy memecoins, with the hope of a price surge due to viral marketing or community hype.
  ➜Early adopters may see huge returns if the coin gains popularity.
• Price Volatility
  ➜The price of the memecoin fluctuates wildly, driven by speculation, social media trends, and market sentiment.
  ➜Prices can skyrocket with enough hype but may also crash quickly when interest fades.

The value of cryptocurrencies like Bitcoin or Ethereum is often determined by technical innovations or the underlying blockchain. But, meme coins derive their value primarily from external factors rather than intrinsic utility or fundamentals:

➺Community Support to create buzz, attract new investors, and sustain interest in the coin.
➺Social Media Hype: Viral memes, tweets, and endorsements from influencers ( e.g Elon Musk’s tweets about Dogecoin caused massive price surges in 2021)
➺Market speculative trading fuels demand and drives price volatility.
➺Scarcity and Tokenomics to gauge potential value growth.
➺Exchange Listings to gain accessibility and credibility.
➺Celebrity and Influencer Endorsements
➺Fear of Missing Out (FOMO) further increasing demand

Risks of Memecoin Investing

To me, investing in Memecoins is equivalent to gambling. It is fun and potentially profitable but has many many risks. Let me share with you the top 5 risks👇

1. No Intrinsic Value: Memecoins are not tied to any underlying assets or utility. Their value is purely speculative, driven by hype and community sentiment. This makes them very volatile, with a huge risk of losing your investment.
2. Volatility: Due to their lack of intrinsic value, prices of memecoins can swing wildly within hours, minutes and even seconds. During this time, there is potential for quick profits or quick loss. (For example; the sudden rise in the price of dogecoin in 2021)
3. Scams and Rug Pulls by Developers: Many memecoin developers do not dox meaning they remain unknown to the investors and are not interested in you or your welfare. This increases the risk of scams big time because no one knows who is behind the token. The most common scam here is rug pulls where developers abandon the project and drain liquidity after creating initial hype. There are cases in which the dev doxes and still rugs the project (like the US tween who went on live stream on pumpfun and dumped the token). All in all, just beware of rug pulls.
4. FOMO (Fear of Missing Out): Just like Dogecoin, other memecoins are often heavily promoted on platforms like X, Reddit, and TikTok. This can lead to emotional investment decisions rather than rational ones.
5. Community-Driven Risk: Memecoins rely on strong community engagement to maintain interest and value. If community enthusiasm weakens, the coin’s value can plummet rapidly.

Rewards of Memecoin Investing

With memecoins, you can easily wake up to your next 10x, 100x, or 1000x and at the same time you can wake up to -30%, -70% or -90%. That’s just memecoins for you. The rewards of memecoin investing are largely tied to timing, community enthusiasm, and market trends so doing your research before investing is very important.

1. High Potential for Returns: Memecoins can experience rapid price increases due to viral hype or social media trends. Early investors can often see exponential gains if the coin gains popularity.
   Examples: Dogecoin and Pepe’s sudden increase in price in 2021 and 2023 respectively.
2. Memecoins are often inexpensive unlike Layer 1 tokens. This allows new investors to participate with minimal capital. This is the appealing part for crypto beginners: Their low entry barrier
3. Memecoins bring humour and fun to the crypto world, making them more approachable. Investing in them can feel less intimidating compared to more complex cryptocurrencies.
4. Market Opportunities: Viral campaigns and celebrity endorsements can create short-term trading opportunities. Active traders can benefit from the frequent price swings.

How to Buy Memecoins

If you’re interested in buying memecoins, the process typically involves a few steps, but it can vary depending on the specific coin and platform.

➣Choose a memecoin you want to invest in. You can research a new launch on dexscreener to find one to invest in.

➣Do Your Research:
-Check for the coin’s market performance and tokenomics using Coin Market Cap or Coin Gecko
-Analyze their community on Telegram, X or Discord
-Look into the team behind the memecoin
-Verify the contract audit of the memecoin
-Also evaluate the market sentiment on social media and crypto forums

➣Choose a cryptocurrency exchange to trade your memecoin
-Centralized Exchanges (CEXs) e.g; Binance, Coinbase, KuCoin for more well known memecoins
-Decentralized Exchanges (DEXs) e.g Uniswap, PancakeSwap, Pumpfun for some smaller or newer memecoins
-Trading bot e.g SolTradingbot, Trojan for faster exchange

➣Deposit funds into your exchange wallet or buy the crypto you will use to swap

➣Place an order by searching for the memcoin or imputing the CA of the memecoin

➣Review and confirm the transaction

Engaging with memecoins requires a mix of strategic thinking, community involvement, and risk management. The most common strategies are:

➜Researching the project thoroughly

➜Getting involved early: Monitor new listings using platforms like DEXTools, PooCoin, or CoinMarketCap to find new memecoins. Also join launchpads like DXSale, Pinksale, or Pump.fun which allows you to participate in early-stage token sales.

➜Using social sentiment to your advantage: Follow trends on Crypto X, Reddit and Telegram groups.

➜Adopting a trading strategy
-Short-Term Trading: Ride the hype, but set clear entry and exit points to lock in profits
-HODLing: Some memecoins gain value over time, but this requires confidence in the project’s long-term vision.
-Diversify Your Portfolio: Avoid putting all your funds into one memecoin; spread your investments to reduce risk.

➜Leveraging tools and automation: Trading Bots, Analytics Tools and Sniping Bots

➜Building relationships in communities: Engage in Telegram, Discord, or Twitter discussions to stay informed and build connections.

➜Staying vigilant for scams: Check contracts, avoid FOMO and beware of fake promotions

➜Capitalizing on memes and trends

➜Managing Your Risks: Only invest what you can afford to lose and don’t get greedy (secure profits as soon as you hit your targets)

Memecoins have transcended the crypto space and influenced mainstream culture. They use humour, community engagement, viral marketing, and even charity work to stay relevant in the social and financial landscape:

• Philanthropy: Memecoins have been used to fund charitable causes outside the crypto world.
  Examples: -$PONKE is focused on charitable causes, with a portion of the profits from each transaction being donated to animal welfare charities. -The Dogecoin community raised funds for the Jamaican bobsled team in 2014 and clean water initiatives in Kenya.
• Pop Culture and Media: Memecoins like Dogecoin and Shiba Inu have become cultural phenomena, inspiring memes and merchandise
  Example: Dogecoin was featured on NASCAR vehicles and used as a humorous topic in late-night talk shows.

• Marketing and Branding: Companies leverage the popularity of memecoins to attract younger, tech-savvy audiences.
  Examples: -GAP launched limited-edition Shiba Inu (SHIB) themed merchandise in 2021. -Tesla’s accepted Dogecoin merchandise.

• Entertainment and Gaming: Memecoins have inspired games, NFTs, and virtual worlds.
  Example: Dogecoin-themed games and Shiba Inu’s "Shibaverse".
• Payment Adoption: Some businesses accept memecoins as payment, expanding their use case.
  Example: AMC Theatres and online retailers now accept Dogecoin for goods and services.

Apart from trading these memecoins, there are other ways to make profit off them. Take this for instance👇:

Dev Peri created a memecoin based on a cat meme circulating the internet. He called the memcoin ‘$CATSO’. The meme is viral on the internet and has the hype but he also needs to create hype around his memecoin. That’s where a solid team is needed-

He’s needs a:

• Key Opinion Leader (KOL) or Influencer at least
• A community manager or/and moderator for his community
• An advisor
• A social media manager or content creator

Etc…

These are jobs you can also pitch for once you know the memecoin is going to be solid and not a scam.

After reading all these, I know you are asking yourself THE question

Is Memecoin a Good Investment?
I’d rather call memecoins a profitable investment rather than a good investment. This is because it’s 50/50 when it comes to memecoins. You can either win or lose with trading memecoins.

That’s why it is always important to DYOR (Do your own research) before investing into memecoins

Merry GREEDmas and have a wonderful new year

Reader’s Guide

• DeFi Lending and Borrowing Platforms

→DeFi Lending on SUI Blockchain

→The Problems with Lending and Borrowing Protocols

• Introducing Suilend
• Suilend’s Major Achievements
• Points and Capsules

→Suilend Points

→Tracking your Suilend Points

→Suilend Capsules

• $SEND Airdrop

→What you need to get ready for SEND Airdrop

• Mdrops

→The problem with token distribution

→What is Mdrop?

→Benefits of Mdrops

• Suil.ag: The Suilend Aggregator
• The Future of Suilend
• Official Links

DeFi Lending and Borrowing Platforms

DeFi lending and borrowing platforms are decentralized platforms where users can lend or borrow cryptocurrencies without intermediaries like banks.

These protocols connect lenders (who earn interest by supplying assets) with borrowers (who pay interest on the assets they borrow).

Lending protocols operate on smart contracts. With these blockchain-based smart contracts, users can select which money market they want to lend to and earn interest from, depending on the market’s current annual percentage yield (APY).

The smart contracts also ensure that loans are over-collateralized, meaning borrowers must deposit assets worth more than the loan amount to secure their loans.

DeFi Lending on Sui Blockchain

The Sui blockchain is known for its scalability and speed but it’s still a relatively new network. Because of this, DeFi on Sui is still in its early stages.

Sui’s innovative design makes it suitable for high-performance dApps, but there are some current challenges for DeFi lending protocols operating on the network:

• Liquidity Constraints: Sui’s newer status means it currently lacks the same level of liquidity as more established blockchains.
• User Base Growth: Attracting users to a new blockchain ecosystem can be challenging and without a large user base, demand for lending and borrowing platforms remains lower than on other networks.

Introducing Suilend

Suilend is the fastest-growing lending protocol built on the Sui blockchain, and it's making waves as one of the most promising lending solutions in the DeFi space

Suilend is built by the same team behind Save Finance (X: https://x.com/save_finance) and founded by 0xrooter [https://x.com/0xrooter?t=OuLupKQtMNYbBsJTUdTsGQ&s=09]

The team has been through crypto’s highs and lows, which has given them a solid understanding of the challenges in the lending sector. Suilend allows users to securely lend and borrow assets with ease and efficiency by leveraging the capabilities of Sui Blockchain

Some of their recent achievements👇

➜It has ranked #1; as the best lending protocol on Sui Network

➜Over 5000 users

➜90k+ followers on X

➜Total deposits: $443,000,000

➜Total borrows: $99,600,000

➜TVL: $343,000,000

Suilend Points and Capsules

Suilend Points

In May 2024, Suilend launched a unique reward campaign based on Suilend Points.

It’s a way to reward users who deposit and/or borrow supported assets on the platform

This reward program has an on-chain setup. Due to this, the rewards aren’t stored in a traditional database but are recorded on the Sui blockchain. There are 20 million points distributed daily {10 million points for deposits and 10 million points for borrows} and are all recorded on the Sui blockchain as non-transferable, non-claimable tokens

The points distributed each day are divided among users who deposit and borrow:

➜SUI

➜USDC

➜USDT

➜ETH

➜SOL

{And other assets as seen on the dashboard; Also potentially more assets in the future}

Each asset type has its own specific reward rate, which is affected by the amount of funds deposited or withdrawn within each reserve. This means that when the total deposits increase or decrease for a particular asset, the reward rate for that asset may be adjusted accordingly.

Tracking Your Suilend Points

To make tracking rewards easy and engaging, Suilend offers a Dashboard where you can monitor your points and understand how your contributions rank within the community.

Within the Protocol Rewards section of the Dashboard, you’ll see three key metrics:

• Total Points: This is the total points you’ve earned to date from all of your deposits. It gives you an overview of your cumulative rewards on Suilend
• Points Per Day: This shows your current daily points earnings based on the assets you have deposited. It updates dynamically according to your holdings and the current reward rates for each asset.
• Rank: Your rank shows your position among all Suilend users on the Points leaderboard. This ranking is refreshed hourly.

For those interested in community performance, the Points Hub showcases the top 250 addresses, along with their respective points totals and rankings.

Other Ways to Earn Suilend Points:

In addition to earning points through deposits, Suilend Points can also be earned by contributing to the platform in meaningful ways.

The Suilend team recognizes and rewards active users who help grow and promote the community

These rewards can include both points and Suilend Capsules

What are Suilend Capsules?

Suilend Capsules are special NFTs awarded to users who go above and beyond in contributing to the platform. These Capsules are designed to offer unique benefits tied to the future of Suilend. (And the capsule’s will have a benefit that will be revealed near TGE)

There are three types of Capsule NFTs:

➺Common Capsules

➺Uncommon Capsules

➺Rare Capsules

Other Ways to Earn Points and Capsules

➣Educating the community about Suilend’s features, benefits, and updates through engaging and informative threads on platforms like X (formerly Twitter).
➣Creating fun and engaging memes for Suilend
➣Promoting Suilend across social media, blogs, or forums.
➣Developer Integrations: For technical contributors, integrating Suilend into other DeFi protocols or applications can earn high-value rewards, including Rare Capsules.

$SEND AIRDROP

➜What is $SEND?

$SEND is the native token of Suilend Protocol

➜Wen $SEND?

$SEND is set to launch in December 2024

➜Points and Capsules will gain valuable utilities upon the launch of $SEND《When $SEND launches, users holding Suilend Points and Capsules will be eligible for exclusive rewards》

What you need to know to get ready for $SEND:

Earning Points and Multipliers

➺To maximize your rewards with $SEND, start by accumulating Suilend Points. By depositing, borrowing and contributing to the community, you can earn points; and the more points you earn, the higher your reward multipliers when $SEND goes live.

To Deposit and Borrow Assets:

• Start by going to the dashboard: https://suilend.fi/dashboard
• Depositing or borrowing SUI, USDC, or USDT (more assets available too) lets you earn points daily, calculated based on your asset type and deposit & borrow size.
• Depositing and borrowing assets also lets you earn attractive Annual Percentage Rates (APRs)

Some Deposit and Borrow APR👇

→SUI
Deposit APR- 3.59%
Borrow APR- 4.52%

→SOL

Deposit APR- 5.26%

Borrow APR- 4.68%

→USDT
Deposit APR- 7.62%
Borrow APR- 1.12%

→USDC
Deposit APR- 8.00%
Borrow APR- 1.18%

➺Points and Capsule NFTs awarded for community contributions will also play a role in boosting your points and multipliers. In this case, the rarer the Capsule, the greater the reward

So far, the following communities will receive SEND ecosystem airdrop allocation:

• FUD The Pug [https://x.com/suilendprotocol/status/1857061144084598831?t=SS4KFM-uFndUC7lwNxc2SA&s=19]
• Studio Mirai’s PRIME MACHIN [https://x.com/suilendprotocol/status/1854162888338162045?t=afs7m6vmjosPnAGjYIBfSw&s=19]
• Anima Labs [https://x.com/suilendprotocol/status/1855928606989705482?t=Rfd4ALRVJhZMhW2P4hfFVw&s=19]
• Bluefin League [https://x.com/suilendprotocol/status/1857030806675378297?t=VZ-aNJpO15-H9bU2Q7Nvtg&s=19]
• Aftermath Eggs [https://x.com/suilendprotocol/status/1855981713266180406?t=8jKkQTqK5a5A30V4y8EGxA&s=19]
• Doubleup Citizens [https://x.com/suilendprotocol/status/1856306043065978965?t=RUpN-1U3fo8GhA_MeiNhBA&s=19]
• Octo [https://x.com/suilendprotocol/status/1857393154317771000?t=BBp46H9D55gDrpF8K6b3-Q&s=19]

*More communities to be announced*

Mdrop

The Problem

Distributing tokens effectively has always been a challenge and no approach has been able to fully solve this problem.

This is because two main issues persist:

1. High Initial Float: As the market moves away from "low float, high FDV (Fully Diluted Valuation)," having a large percentage of tokens in circulation upfront is becoming more desirable to reduce insider sell-offs.
2. Overwhelming Sell Pressure: Balancing this high float with the risk of early selling remains tricky. Premature selling often destabilizes the market, leaving projects with unsustainable price action.

To address these challenges, mechanisms like mdrops are emerging. It is inspired by ideas from Zeta, Sanctum, and deBridge.

What Are Mdrops?

Mdrops (maturing airdrops) are airdrops with a decreasing claim penalty. It’s a mechanism designed by Suilebd to launch $SEND.

➣If tokens are claimed immediately, users pay the full penalty in a secondary token (e.g: SUI)

➣If tokens are claimed after the maturity period, no penalty is incurred.

《For $SEND, the penalty will be paid in SUI》

Benefits of Mdrops

➣Mdrop encourages long-term holding.

➣Predictability: Unlike traditional vesting schedules with uncertain unlock dates, Mdrops provide full token unlocking upfront but with a clear and predictable penalty structure.

➣Reduced Sell Pressure: Selling pressure is distributed over time, as immediate selling below the penalty threshold becomes unprofitable. This sets a price floor, stabilizing the token’s market value.

SUIL.AG

Suilend in collaboration with AftermathFi [https://x.com/AftermathFi?t=OhLRaOVR0nHZpeYdiKG-3w&s=09] created a convenient DEX aggregator for the Sui ecosystem called Suil.ag.

You can swap tokens and deposit them on the platform directly within the dApp. And you can do this without having to pay any fee.

The Future of Suilend

Suilend is on a mission to become the ultimate DeFi hub on $SUI, and it’s clear they’re on the right path.

Their commitment to innovation is one of a kind and I can’t wait to see what they have in store for us.

Official Links

➲𝕏: https://x.com/suilendprotocol?t=6DbMRz20W0cZxQGzA6SrbA&s=09

➲Discord: discord.gg/suilend

➲Website: https://suilend.fi/dashboard

➲Docs: https://docs.suilend.fi/

Real World Assets commonly known as RWAs are tangible assets that physically exist and hold intrinsic value in the real world

Unlike digital assets or cryptocurrencies, RWAs include a diverse array of physical assets such as real estate properties, commodities like precious metals or agricultural

RWAs and Blockchain Technology

The advent of blockchain technology and tokenization has introduced limitless possibilities for RWAs.

Tokenization involves representing ownership or rights to physical assets digitally on a blockchain.
This process divides the asset into digital tokens, each representing a fraction or whole unit of the asset’s value.

By tokenizing RWAs, several advantages emerge;

• Enhanced Liquidity:
  Tokenization transforms traditionally illiquid assets into liquid assets that can be traded on blockchain platforms. This improves market liquidity, allowing users to buy, sell, or trade their asset holdings more quickly and efficiently compared to traditional markets.
• Global Accessibility:
  Blockchain technology enables tokenized RWAs to be accessed and traded globally without geographical restrictions.
• Lower Barriers to Entry:
  Users can invest in high-value assets like real estate or art by purchasing fractional tokens, which represent ownership stakes in these assets. This lowers the barrier to entry, allowing smaller investors to participate in markets traditionally reserved for large institutions or high-net-worth individuals
• Integration with DeFi:
  Tokenized RWAs can integrate with DeFi protocols, allowing users to leverage their assets in various DeFi applications.
• Portfolio Diversification:
  Tokenized RWAs allows users the ability to diversify their investment portfolios beyond traditional financial assets markets.

Introducing Re.al

re.al is an innovative blockchain platform designed as a permissionless Layer 2 solution specifically tailored for tokenizing RWAs

Their primary goal is to revolutionize the ownership, trading, and utilization of RWAs through the power of blockchain technology

By tokenizing RWAs and integrating them into DeFi ecosystems, re.al seeks to democratize access to traditionally illiquid and exclusive asset classes.

$RWA Token

$RWA serves as the backbone of re.al

$RWA was launched without VC or influencer pre-sales, ensuring a fair distribution without large token unlocks that could flood the market. This approach ensures transparency access to $RWA tokens for the community.

$RWA represents a migrated version of $TNGBL, the governance token of TangibleDAO. This migration preserves continuity for existing $TNGBL holders, allowing them to seamlessly transition their tokens to $RWA at a 1:1 ratio. It rewards early believers in the platform’s mission and ensures their ongoing participation in governance and value accrual mechanisms

$RWA operates as a dual-purpose token, serving both governance and value aggregation functions on re.al:

Governance

$RWA holders have governance rights, allowing them to actively participate in shaping the future of the re.al ecosystem. This includes voting on key decisions such as protocol upgrades and new feature implementations

Value Aggregation Mechanism

Unlike traditional Layer 2 governance tokens that may lack essential value, $RWA introduces a innovative approach to value aggregation.
Also, holders who lock their $RWA into veRWA (vested $RWA) receive a proportional share of all chain revenues. This includes;
➣Transaction Fee Revenue: Income derived from transaction fees processed on the platform.
➣Product and Protocol Revenues: Earnings from various deployed products and protocols like DApps and financial services.

Mechanics of veRWA Tokens

Upon distribution, veRWA tokens are initially locked. This locking mechanism encourages holders to maintain a long-term commitment to the ecosystem’s stability and growth.

To unlock their veRWA tokens, holders must initiate a burning process where a portion of their $RWA tokens is permanently removed from circulation. This burning mechanism not only reduces the overall token supply but also potentially increases the value for remaining holders. It stops people from making quick guesses and encourages them to stay involved in a way that helps the platform grow steadily in value.

Token Supply and Deflationary Mechanism

$RWA has a total supply of approximately 33,300,000 tokens. Deflationary mechanisms are used in the $RWA tokenomics to manage supply dynamics and potentially increase scarcity over time.

This includes mechanisms designed to reduce the supply of $RWA tokens under certain conditions

Airdrop and Community Incentives

To further incentivize active participation and reward contributions to the ecosystem, re.al plans to distribute approximately 10% of the $RWA token supply through an airdrop.

This distribution will be based on various metrics, including total value locked (TVL) and user activity within the platform.

This brings me to the $RWA REWARD PROGRAM

$RWA Rewards Program

Overview

The re.al Rewards Program is officially live at https://re.al/rewards
It is strategically designed to achieve several key objectives aimed at nurturing a thriving and engaged community within the re.al ecosystem. By allocating 10% of the $RWA token supply to new users, the program seeks to establish a strong foundation of committed participants who actively contribute to the ecosystem’s growth and long-term success.

Aim of the Reward Program

1. Attracting Liquidity: A primary goal of the rewards program is to draw in liquidity within the ecosystem. Liquidity is crucial as it ensures that assets can be traded seamlessly and efficiently on the platform. To achieve this, users are rewarded to bridge their assets onto the chain and provide liquidity. This enhances the overall market depth and liquidity pool.
2. Introducing Applications: The program encourages users to explore and engage with various dApps available on re.al. When users use these dApps, they can earn more rewards and see all the different things the platform can do. This approach improves user experience and demonstrates the utility and versatility of re.al’s ecosystem.
3. Rewarding Active Participation: Participants who actively contribute to the ecosystem’s growth and development are rewarded with veRWA tokens. These tokens serve multiple purposes (I stated a few above). This encourages users to keep participating regularly and ensures that their goals are aligned with the platform’s long-term success.

How the reward system works

The re.al Rewards Program allows users to earn $RWA by actively engaging with the platform. The Rewards Program is built to provide clear and immediate updates, ensuring participants always know how many tokens they’ve earned and their dollar value.

The Rewards Program will take place for 4 seasons each with 60 days. The first season took off on July 1st and will conclude on August 30th.

3.33 million $RWA (10% of the total token supply) will be distributed among participants during this period.

A total of 1,332,000 for Season 1 will all be distributed to users, with an additional 5% set aside as a reward for early adopters and active participants who engaged with the platform before the official launch of the Rewards Program.

Re.al also offers a user friendly interface that allows participants to see how many tokens they’ve earned and how rewards are calculated. This transparency ensures that participants have clear visibility into their progress and can optimize their engagement strategies accordingly.

PS: The program ensures that rewards are distributed based on the value users bring to the platform, including their contributions to the TVL and participation in high-value transactions.

Referral System

The Rewards Program’s referral system helps participants use their networks to benefit together, promoting growth and community involvement.

➜To participate in the program, every user must sign up using a referral link of existing participant.

➜When you refer someone and they join using your link, you receive 10% of all the rewards they earn through the program. {There are no limits to how many people you can refer or how many levels of referrals can be generated}

Calculation of Points

In the Rewards Program, points are determined based on how long you hold your investments and how actively you engage with the platform. It works as:

➟Larger investments held for longer periods earn more points.

➟Transactions involving flash loans don’t count towards points to maintain fairness.

➟Important parts of the platform like the bridge and apps are monitored to assess their impact. Due to this, each transaction affects your total points.

➟Points are calculated off the platform to ensure accuracy, and anyone can verify how points are computed.

➟Calculations can be adjusted if any attempts to misuse the system is detected

Tracked Tokens

The Rewards Program tracks the balances of the following tokens:

1. reETH
2. USTB
3. UKRE
4. DAI
5. CVR
6. sCVR
7. PEARL
8. vePEARL
9. RWA
10. veRWA
11. arcUSD
12. PTa
13. MORE
14. sMORE

These tokens balances are monitored and tracked as part of the Rewards Program. Tracking these tokens allows the program to calculate points and distribute rewards based on participants' holdings and activities involving these tokens within the platform.

Leaderboard

The re.al Rewards Program also has a leaderboard which serves as a ranking system that displays participants' standings based on their performance and engagement within the program.

Participants' positions on the leaderboard are determined by various metrics, like the number of points accumulated, the value of transactions made, or the amount of tokens held.

Also, the leaderboard is publicly accessible, allowing participants and other stakeholders to view the rankings in real-time.

Don’t miss out on this opportunity to earn rewards while being part of a growing community dedicated to redefining asset ownership and value creation.

Join now using https://re.al/rewards

Visit Re.al for more info;
Docs: https://docs.re.al/

Mirror: https://mirror.xyz/0xBE105a62f39a2E0b09772C49E3EcF6ef21BEd85C/Dm0H18kJ2RW6wBXmrARgQTdlcI0kv6pH9zVukGpG5lM

X (Formerly Twitter): https://x.com/real_rwa?t=-kg_SumBuneit9y3u6DLRg&s=09

Discord: https://discord.com/invite/zDBMcEVv

Nigeria’s positions as the largest economy in Africa, coupled with its rapidly expanding cryptocurrency community

Nigeria has one of the highest cryptocurrency adoption rates in the world, with a significant portion of the population actively trading and investing in cryptocurrencies like Bitcoin and Ethereum. Nigerian youths have been early adopters of cryptocurrencies and have recognized the potential of stablecoins as a stable and reliable form of digital currency for everyday transactions and financial activities.

Defining Stablecoins

Stablecoins are cryptocurrencies whose value is pegged, to that of another currency, commodity, or financial instrument. It is designed to maintain a stable value relative to a specific asset or basket of assets, such as fiat currencies like the US dollar, commodities like gold, or a combination of different cryptocurrencies

Types of Stablecoins

Stablecoins come in various types, each with its own mechanism for maintaining stability

• Fiat-collateralized stablecoins

These are among the most popular and widely used stablecoins.

They provide stability by being backed by reserves of fiat currency held in a custodial arrangement. Example include, Tether (USDT), USD Coin (USDC), and TrueUSD (TUSD)This backing ensures that the value of the stablecoin remains stable and is pegged to the value of the fiat currency at a 1:1 ratio

• Crypto-Collateralized Stablecoins

These stablecoins are backed by reserves of other cryptocurrencies, held in a smart contract or decentralized protocol. The value of the collateral is managed dynamically to maintain the stability of the stablecoin. An example is the Dai (DAI)

• Algorithmic Stablecoins

These stablecoins use complex algorithms and mechanisms to adjust the supply of the stablecoin in response to changes in demand. This aims to keep its value stable over time without the need for collateral backing. These stablecoins rely on various mechanisms, such as algorithmic bonding curves, seigniorage shares, or algorithmic rebasing, to achieve stability. Examples include Ampleforth (AMPL) and Terra (LUNA).

• Commodity-Collateralized Stablecoins

These stablecoins are backed by reserves of real-world assets, like precious metals like gold or goods like oil. The value of the stablecoin is pegged to the value of the underlying goods, providing stability. These stablecoins are less common compared to other stablecoins due to the problem of proper storing and auditing of the physical assets. Examples include Digix Gold (DGX) and Tether Gold (XAUT).

Stablecoins over other Cryptocurrencies?

1. Stability
   Cryptocurrencies like Bitcoin and Ethereum are known for their price volatility, which can make them unsuitable for everyday transactions or as a store of value. Stablecoins, on the other hand, provide stability by pegging their value to traditional assets.
2. Efficiency and Accessibility Cryptocurrencies offer advantages in terms of transaction speed, cost, and accessibility compared to traditional banking systems. Stablecoins leverage these advantages to facilitate faster and cheaper cross-border transactions, remittances, and payments.
3. Financial Innovation
   Cryptocurrencies and blockchain technology enable financial innovation by providing new ways to transfer, store, and manage value. Stablecoins serve as the backbone of various financial innovations, like DeFi protocols.
4. Cross-Border Integration
   Stablecoins facilitate integration between traditional financial systems and upcoming cryptocurrency markets. They enable seamless cross-border trade and commerce by providing a common medium of exchange that is not tied to any specific national currency.

Stablecoin in Nigeria
In 2021, Nigeria emerged as a key player in the global stablecoin market, ranking second in terms of transaction volume. This highlights the country’s growing prominence within digital currency.

The Central Bank of Nigeria (CBN) has taken proactive steps to address the growing use of cryptocurrencies, including stablecoins, in the country. Recognizing the rapid expansion of digital currencies within Nigeria, the CBN has implemented guidelines aimed at safeguarding consumers against fraud and curbing the potential misuse of cryptocurrencies for illicit activities. This approach demonstrates a balanced approach, seeking to foster innovation while maintaining financial stability within the country’s economy.
In May 2022, Nigeria’s markets regulator further solidified the regulatory framework surrounding crypto assets by publishing rules governing their usage. This move is likely to have implications for the usage and adoption of stablecoins within Nigeria, indicating a concerted effort by regulatory authorities to ensure transparency, accountability, and legal compliance within the cryptocurrency space.

Role of Stablecoin in Nigeria’s Economy

The adoption of stablecoin in Nigeria is driven by rising inflation and the depreciation of the Naira.

Due to these economic uncertainties and currency devaluation in Nigeria, stablecoins serves as an important tool for individuals and businesses seeking to safeguard their wealth and navigate volatile financial landscapes.

With Binance offering easy access to stablecoins like USDT, Nigerians have used these digital assets as a means to move against currency devaluation and preserve their purchasing power. The user-friendly interface and high trading volumes on platforms like Binance have also increased the adoption of stablecoins among Nigerians, providing them with a reliable alternative to the traditional fiat currencies.

Nigerian exchanges have witnessed an unexpected surge in stablecoin transactions, totaling $60 billion between August 2021 and July 2023, according to Chainalysis. This growth in stablecoin transactions shows the growing demand for stable assets amidst economic uncertainty and currency volatility.

Some problems faced in Nigeria’s finance and their stablecoin solutions

1• Limited Access to Banking Services

According to the World Bank, around 36% of Nigerian adult remains without a bank, with many people lacking access to basic financial services. This limits their ability to save, invest, and participate in Nigeria’s economy.

→Stablecoin Solution:

Stablecoins can promote financial inclusion by providing access to digital financial services for the unbanked and underbanked populations.

2• High Remittance Costs

Nigeria has a wide spread population, with many Nigerians living and working abroad. This makes Nigeria is one of the top recipients of remittances in Africa. Remittances plays an important role in the country’s economy, with billions of dollars sent back home annually.

But traditional remittance methods often involve high fees and long processing times, reducing the amount of money received by recipients.

→Stablecoin Solution:

Stablecoin adoption reduces remittance costs by enabling faster and cheaper cross-border transactions. Nigerians abroad can use stablecoins to send money back home to their families with lower fees and shorter transaction times.

3• Currency Volatility and Inflation
Inflation in Nigeria reached a 30-year high of 28.9% in December 2023, according to Trade Economics, and one of its primary causes is the substantial depreciation of the naira. Nigeria experiences periods of currency volatility, inflation, and economic instability, which gradually reduces the value of the national currency, “Naira”

→Stablecoin Solution:

Stablecoins pegged to stable fiat currencies like the US dollar provide an advantage against currency depreciation and inflation. By holding stablecoins, individuals and businesses can preserve the value of their assets and protect the economic against instability.

4• Cross-Border Trade Challenges

Cross-border trade in Nigeria is often hindered by inefficient payment systems, high transaction costs, and lengthy settlement times.

→Stablecoin Solution:

Stablecoins provides cross-border transactions with a fast, low-cost, and borderless payment solution. Businesses can also use stablecoins to pay for imports, receive payments from international customers, and settle transactions with overseas suppliers, reducing costs and improving efficiency.

4• Slow Digital Economy Growth

Nigeria’s digital economy is growing rapidly, driven by increasing internet penetration, smartphone adoption, and e-commerce activities.

→Stablecoin Solution:

Stablecoins can fuel further growth in Nigeria’s digital economy by providing cheaper, faster, and more efficient payment solutions for online transactions, e-commerce platforms, and digital marketplaces.

Introduction of cNGN

Nigeria launched its inaugural regulated Naira stablecoin, “cNGN”.

cNGN is a collaborative effort between Nigerian financial institutions, fintech companies, and blockchain experts united under the Africa Stablecoin Consortium (ASC). With a mission to establish a stable and interoperable digital currency, ASC endeavors to address longstanding challenges in cross-border payments, remittances, trade, and e-commerce across Africa and globally
cNGN is backed 1:1 by the Nigerian Naira (NGN) and compliant with regulations set forth by the Central Bank of Nigeria (CBN) and the Securities and Exchange Commission (SEC), cNGN. It aims to revolutionize financial transactions within and beyond Nigeria’s borders.

Challenges of Stablecoin Adoption in Nigeria

1. Regulatory Uncertainty: Without adequate regulations and oversight mechanisms in place, stablecoin adoption could pose risks like money laundering, terrorist financing, and systemic stability concerns. This lack of clear guidelines and regulatory frameworks governing the use, issuance, and trading of stablecoins creates uncertainty for businesses, investors, and users. Without regulatory clarity, stakeholders may hesitate to embrace stablecoins due to concerns about compliance, legal risks, and potential regulatory crackdowns.
2. Financial Illiteracy:
   Many individuals, particularly those in rural areas, may be unfamiliar with digital currencies and the benefits they offer.
3. Infrastructure Limitations:
   Limited digital infrastructure, including internet connectivity, mobile devices, and digital wallets, poses as a huge barrier to stablecoin adoption in Nigeria. Many Nigerians lack access to reliable internet services and smartphones, making it challenging to participate in the digital economy and use stablecoins effectively.
4. Trust and Security Concerns:
   Despite the benefits of stablecoins, users may hesitate to use them due to concerns about security breaches, hacking attacks, and the risk of loss of funds.
5. Exchange Rate Volatility:
   While stablecoins offer stability compared to volatile cryptocurrencies like Bitcoin, they are still susceptible to exchange rate fluctuations, particularly when pegged to fiat currencies. In Nigeria, where the Naira has experienced significant depreciation against the dollar, stablecoins pegged to the dollar may not provide sufficient protection against currency risk.
6. Weakened Monetary Policy:
   Stablecoins not under the control of the Central Bank of Nigeria (CBN) and not pegged to the Naira could undermine the effectiveness of Nigeria’s monetary policy. If a substantial portion of the population holds their balances in stablecoins rather than Naira, the CBN’s ability to influence economic variables such as inflation, interest rates, and money supply could be diminished. This could increase existing economic challenges, making it harder for the central bank to stabilize the financial system.
7. Reduction in Seigniorage Revenue:
   Stablecoin adoption could lead to a decline in seigniorage revenue for the Nigerian government. Seigniorage revenue is earned when the government profits from the difference between the value of currency and its production costs. If stablecoins become widely used, reducing reliance on the Naira, the government may experience a loss of seigniorage revenue, similar to the decline seen in countries where cash use has decreased due to dollarization. This loss could strain government finances and limit investment in crucial areas such as infrastructure and social programs.

Stablecoin Growth in Nigeria

Stablecoin adoption in Nigeria has already witnessed significant growth, driven by economic challenges, currency devaluation, and the increasing accessibility of digital financial services. To sustain and further accelerate this growth, several factors and strategies can be considered:

• Partnerships and Integration:

Collaborating with local businesses, financial institutions, and government agencies can help integrate stablecoins into the existing finance system. By partnering with banks, payment processors, and e-commerce platforms, stablecoin issuers can improve the acceptance and use of stablecoins for everyday transactions, remittances, and bill payments, making them more accessible to a wider audience.

• Education and Awareness:

Promoting education and awareness about stablecoins and their benefits is essential to drive adoption. Many Nigerians may still be unfamiliar with stablecoins and cryptocurrencies, so educational initiatives, workshops, and outreach programs can help understand the whole concept and show their potential advantages.

• Regulatory Support:

Clear and supportive regulatory frameworks are important to foster trust and confidence in stablecoins among consumers, businesses, and investors. Regulators in Nigeria can work collaboratively with industry stakeholders to establish regulatory guidelines that ensure consumer protection, financial stability, and compliance with anti-money laundering (AML) and know-your-customer (KYC) regulations, while also fostering innovation and competition in the digital financial space.

• Infrastructure Development:

Investing in digital infrastructure, such as internet connectivity, mobile devices, and digital wallets, is also essential to enable overall adoption of stablecoins. By expanding access to digital technology and financial services, particularly in rural and undeveloped areas, more Nigerians can participate in the digital economy and benefit from the advantages of stablecoins for financial inclusion and empowerment.

• Use Case Expansion:

Expanding the use cases for stablecoins can increase demand and adoption. Apart from remittances and cross-border transactions, stablecoins can be used for savings, lending, investment, and even as a unit of account in everyday transactions. Encouraging this innovation in developing new applications and services built on stablecoin technology can add additional value and utility for users.

• Community Engagement:

Building a strong and supportive community around stablecoins is very important for fostering trust, adoption, and network effects. Engaging with users, developers, entrepreneurs, and other stakeholders through community events, forums, and social media platforms can help improve a sense of belonging and ownership, driving growth and adoption over time.

→Also, addressing exchange rate volatility requires diversification of stablecoin pegs, innovative hedging strategies, and the development of decentralized stablecoin protocols that are less reliant on centralization and external factors.

The adoption of stablecoins in Nigeria represents a promising phenomenon, with hung impact on the country’s financial. Despite the challenges, stablecoins offer amazing benefits that have the potential to reshape Nigeria’s economy

With the right approach and collaborative efforts, Nigeria can make use of stablecoins to build a more resilient, inclusive, and prosperous financial ecosystem for the benefit of all its citizens.

Reference
https://www.investopedia.com/terms/s/stablecoin.asp

https://www-coindesk-com.cdn.ampproject.org/v/s/www.coindesk.com/markets/2021/03/15/nigerians-turn-to-stablecoins-for-protection-against-inflation/amp/?amp_gsa=1&amp_js_v=a9&usqp=mq331AQIUAKwASCAAgM%3D#amp_tf=From%20%251%24s&aoh=17158981107443&referrer=https%3A%2F%2Fwww.google.com&ampshare=https%3A%2F%2Fwww.coindesk.com%2Fmarkets%2F2021%2F03%2F15%2Fnigerians-turn-to-stablecoins-for-protection-against-inflation%2F

https://www.linkedin.com/pulse/adoption-stablecoins-africa-noahhq-lczke?utm_source=share&utm_medium=member_android&utm_campaign=share_via

https://techpoint.africa/2024/02/12/why-stablecoins-may-be-bad-for-nigeria/

https://regtechafrica.com/nigeria-set-to-introduce-regulated-cngn-stablecoin-in-2024-after-cryptocurrency-trading-ban-lifted/

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