There is a sentiment among the crypto flock that meme coins do not deserve investors’ attention. Arguably, this is partly because meme coins lack real-life utility and their excessive volatility makes them a risky investment even for crypto.
However, if we look at raw statistics, data would tell us a different story. Whilst Dogecoin (DOGE) and Shiba Inu (SHIB) are meme coins, seemingly lacking the aforementioned characteristics, both made top-20 cryptocurrencies by market capitalization.
The trickiest part is to be at the right place at the right time. The founder of Doge sold his share of tokens to purchase a used Honda Civic, but if he HODL’ed long enough, the same amount would allow him to buy a whole Honda factory. Remember this when someone tells you meme coins are not a good investment.
Crypto Goes Bananas
RoboApe (RBA) is a new project that aims to revolutionize the crypto space by creating a meme token with exceptional utility, which gives back to its community more than it takes. It is an ERC20 token built on the Ethereum blockchain, with plans to hand a portion of the collected transaction fee back to wallet holders.
It is a decentralized and community-driven project that wants to unlock numerous opportunities DeFi offers. For example, RoboApe’s ecosystem promotes a peer-to-peer economy and community governance based on a share of tokens each individual has purchased.
This will be the key to the project’s development to unlock many DeFi features, such as lending, crediting and liquidity. Such a diverse range of services will help the RoboApe ecosystem gain traction, starting with the (RBA), by providing a DeFi platform for meme and crypto enthusiasts.
RoboApe DAO
Following the trend of 2022, RoboApe is built as a community-driven DAO (Decentralized Autonomous Organization), providing development initiatives, resources, and decision-making directly to the holders of RBA tokens.
All members of the RoboApe community will possess equal rights, facilitated by voting structures to determine whether a proposal should be approved. As part of this process, RoboApe’s community-driven ecosystem will assure its platform’s automated and impartial operation.
Among the already discussed features, it will also give a flawless framework for organizing funding, communicating communal viewpoints, and establishing consensus on protocol improvements.
RBA Token
The RBA token will be at the heart of this project’s development, providing countless financial opportunities for its long-term HODLers. Since RBA token is a deflationary meme coin, the transaction fee would be counteracted by permanently removed by burning the token. There will be a small fee for every transaction on the RoboApe platform, where half of the transactions will be burned, and the other half will be returned to wallet holders.
By utilizing its deflationary mechanism, the number of RBA in circulation would decrease proportionally to the number of transactions on the RoboApe platform. This, in turn, would result in fewer RBA tokens in the future than their amount at any given moment.
And with a reduction in the token supply with every transaction, the token’s deflationary mechanism would ensure RBA’s long-term prosperity and a continuous increase in value.
NFT Marketplace
However, RoboApe’s ecosystem is not only limited to DeFi and is set to provide a one-stop-shop for everything crypto.
RoboApe’s community will be able to mint images and GIF memes represented by RoboApe trading cards, which users will be able to hold or sell. The RoboApe platform will also host exclusive NFT Minting Events for its community members, where users can mint new NFTs using the Event’s premier trading card template.
Gaming
The RoboApe ecosystem will also provide competitive gaming opportunities and include a dedicated RoboApe Gaming module. The range of gaming options RoboApe delivers is impressive, ranging from a one-stop-shop for all-stuff gaming to browser games, mobile games, game servers, or game mods.
What To Make Of It
RoboApe is a definite bright spot on the not-so-bright bear market conditions we are enduring. It is rare when you witness a project powered by the Ethereum Blockchain that simultaneously amalgamates NFTs, Gaming and DeFi by providing its users with a unique range of options to engage in a plethora of crypto activities. Despite being a meme coin, the utility that the project promises stretch far beyond the likes of Doge or Shiba Inu. Such an all-encompassing project should be on everyone’s radar this summer.
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Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic’s opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
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