About Meme Protocol Coin
Meme Protocol Coin is an ecosystem dedicated directly to Memecoins. The Memecoin space has gained major traction since 2021. Most of the biggest Memecoins are down over 80% since 2021 but once the market turns the big memes are usually the ones that do the best. The purpose of the protocol is to give people a chance to place leverage on memecoins. Use your knowledge of the meme space to make 2x- 1000x just by guessing if a token price will rise or fall.
Users will be able to choose their leverage and the amounts. Theoretically a memecoin master could make a substantial amount of money without having to buy any coins. Keep in mind that even though leverage trading can be extremely lucrative it can also be very risky. Meme protocol will also have daily quiz giveaways that will test knowledge of the meme space.
Daily quizzes will be posted on your website with different prizes. In addition to the quizzes they will have a lot of activities to keep the community involved. Your MemeSwap will be another tool for your users to take advantage of. This swap will have the lowest fee on blockchain. Users will also be able to swap on 8 different networks. Holders of $MEME will have zero fees on all trades on Memeswap.
Meme Protocol Coin (MEME) Point Table
|Coin Name||Meme Protocol Coin|
|Source Code||Click Here To View Source Code|
|Explorers||Click Here To View Explorers|
|Twitter Page||Click Here To Visit Twitter Group|
|Whitepaper||Click Here To View|
|Official Project Website||Click Here To Visit Project Website|
Leverage trading essentially works like a loan. Investors can increase their buying power by borrowing funds which then allows them to purchase more of an asset. The amount needed to trade will be based on their leverage. Here is an example: Mark has $100 in his wallet but he wants to buy $1000 of Shiba Inu. Mark believes the price of SHIB will rise so he’s confident he will make some profits. With Leverage, Mark can use his $100 as collateral and receive $1000 in buying power from an exchange at 10x leverage.
Mark can now place a 10x Long position on Shiba Inu and if he is correct and the price of Shiba Inu rises by 20% he will make $200 in profit which is more than the $20 he would’ve made from buying only $100 of Shiba Inu. Using Leverage to trade cryptocurrencies also allows users to have more available capital. Users can buy more of an asset using a fraction of the cost as collateral.
Risks of Leverage Trading
Leverage trading can be highly profitable but equally risky. Users have to be mindful of the amount of leverage they use because the chance of being liquidated increases with higher leverage. A user who trades with 1x leverage will have a bigger margin for error than someone who uses 10x. When a user adds Liquidity to MemeDex their tokens will be automatically locked in the Memedex contract for a specific amount of time. The length of time will determine the rewards that will be given to the provider.
The Liquidity that is provided will not be added to the token immediately instead, Meme Protocol Coin uses an algorithm to determine when Liquidity is needed the most. These two methods ensure that MemeDex itself will be the only market maker and Liquidity can not be manipulated by anyone. Impermanent loss is also decreased to almost none with this approach at market making on MemeDex.
Why Choose Meme Protocol Coin?
MemeDex will provide staking and Leverage yield farming options to users. Users can deposit their assets into your Memedex contract to earn the best APY (exact numbers will be determined close to main net launch). MemeDex offers up to 5x Leverage on yield farming. The advantage of leverage yield farming is users can gain up to 5x yield and they will only be charged interest. This makes it extremely capital efficient and allows users to open multiple positions on different assets since all they will need is collateral. Typically the collateral is a fraction of what the user receives in borrowed funds.
Where Can You Buy Meme Protocol Coin (MEME)?
Tokens Can Be Purchased On Most Exchanges. One Choice To Trade Is On Uniswap (V2), As It Has The Highest MEME/WETH. e Trading Volume, $8,947 As Of February 2021. Next is OKEx, With A Trading Volume Of $6,180,82. Other option To Trade Include MEME/WETH And Huobi Global. Of Course, It Is Important To Note That Investing In Cryptocurrency Comes With A Risk, Just Like Any Other Investment Opportunity.
Meme Protocol Coin Supported Wallet
Several Browser And Mobile App Based Wallets Support Meme Protocol Coin. Here Is Example Of Wallet Which Meme Protocol Coin – Trust Wallet For Hardware Ledger Nano.
FAQ Of Meme Protocol Coin
Where I Can Find Meme Protocol Coin Whitepaper?
You Can Find Meme Protocol Coin Whitepaper By Clicking Here.
Where I Can Buy/Sell Balancer Token?
You Can Buy or Sell Balancer Token On Some Popular Exchange For Example – Uniswap (V2).
What is Circulating Supply Of Balancer Token?
Circulating Supply Of Balancer Token Is N/A.