The recently launched memeDAO saw phenomenal growth on its first day of trading. The coin rose in price by 800% in 24 hours. Unlike other meme coins that are primarily focused on speculation, memeDAO serves as an entry point into the meme coin market. memeDAO hodlers, those who have a certain amount of $MEMD coins in their wallets, receive other meme tokens that the community votes for. Once voting is complete, the memeDAO team purchases the desired coin and distributes it to memeDAO holders.
Before each start of voting, a snapshot of the wallets of $MEMD token holders is taken. The distribution of meme tokens is made in accordance with the share of memeDAO available on hodlers' wallets.
memeDAO's total supply accounts for 420,690,000,000,000 tokens. 93.1% of memeDAO coins in circulation are locked in the liquidity pool while 6.9% are utilized for purchasing meme coins that are distributed to the community and for listings on centralized exchanges. The liquidity is locked for 69 years.
The project roadmap also mentions the creation of a launchpad where new meme coins could be easily launched. This will become a platform for quickly attracting an audience to new meme projects. In addition, it is planned to deploy $MEMD on other popular blockchains. The choice of blockchain will be made by community vote. $MEMD is currently only available on Ethereum (ERC20). memeDAO's plans also include an ambassador program and partnerships with digital wallets, as well as the launch of the MemeCEX crypto exchange with a focus on trading meme coins.
The memeDAO team intends to change the attitude towards meme coins and increase their reputation as a digital currency in the cryptocurrency market.
Currently, memeDAO is traded on Uniswap.